Contractors, like everyone, have felt the pinch of the recent recession(s) in the past ten years. Seasoned contractors know how to ride the valleys and dips that occur inside of a recessing economy. They also know how to recognize a recovering economy.

It's been no secret that the housing market has seen several downturns, and that this has hurt contractors. The recovering housing market offers opportunities to contractors who know where to look to rebound and recover.

In any housing recovery, business and residential property owners decide to build, remodel or deal with repairs that have been put off for quite a while. In this housing recovery, given the large number of foreclosures and partial build sites there is an extra opportunity above and beyond traditional rebound work.

Houses and properties that have been sitting for months or years experience deterioration that requires far more work to repair than if preventative maintenance had occurred by present owners. While no one wants to benefit from another person's tragedy, the fact remains that as the housing market recovers, someone has to repair, or demolish and rebuild, neglected property.

To be on the cutting wave of the rebound, a contractor needs to know where to look. Subscribing to local business journals and court registers can help you keep track of suppressed areas that are poised for a lucrative rebound, as well as increases in true post-foreclosure sales (as opposed to sold to the bank), or renewed commercial or home-buying.

Part of the market recovery can be attributed to local, state or federal efforts to renovate and repair aging housing, commercial or business stock. Attending community improvement meetings and fundraisers can help you get a pulse on where revitalization monies and contracts may be flowing.

It will be important to find out if homeowners select the contractor or if the contractor must bid with a government or non-profit agency.

Know and become known in the neighborhoods you serve. Contracting business is often boosted by positive networking. Drive the neighborhoods in your region and note which ones are deteriorating and which ones are being maintained. Watch for the middle ground of properties that need work, but seem to be in neighborhoods where residents are starting to make efforts to get that work done.

Contribute, sponsor or volunteer for community events. By making a positive return to a community, and associating the name of your business with that turn, homeowners finally in a position to make repairs or remodels they have been putting off will think of you first.

In a rebounding housing market, smart contractors are able to locate these opening opportunities at the same time that they are able to incorporate lower cost labor and materials resulting from the economic downturn. Strengthening your financial position in this manner can help you ride the slow upturn, rather than weather through, or miss the boat.

Finally, be aware of any tax breaks or incentives that can help your business or your customer get more from your contracting abilities for less without cutting into your bottom line.

Customers feel they are getting their money's worth when they select a contractor who knows the working and economic environment. Following these tips show these customers you are the contractor for the long haul.