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Home Remodeling News Throughout Maryland from Google
Homeowners chose renovation over selling [Maryland Gazette (MD)]
Maryland Gazette (MD) Via Acquire Media NewsEdge) When Mike and Gillian DuVall moved into their Cape Cod-style home in Annapolis five years ago, they assumed they’d someday be moving to a new house.
In fact, they had planned on doing that right about now.
But then the housing market tanked, and the couple knew selling the three-bedroom home made little financial sense.
“We’ve had the house appraised a couple of times, and we’re just above what we bought it for – we’re very fortunate,” Gillian DuVall said. “But we knew we wouldn’t be able to sell it for what we need to sell it for.” So the couple decided to renovate instead. Once their $40,000 home remodeling project is finished this summer, they’ll be staying put for at least the next five years, she said.
“It’s not like we’re renovating and we’re going to turn around and sell it,” said DuVall, 34. “It’s not that kind of market.” At one time, couples like the DuValls may have purchased a starter home in hopes of one day trading up to something bigger and better.
But with a real estate market that remains soft, that’s not necessarily a good idea right now, say homeowners and real estate agents.
More county families are opting to renovate their existing homes rather than invest in new ones. They’re upgrading kitchens, adding bedrooms and even adding on apartment units in hopes of transforming something old into something new – at least until the market improves.
About 24 percent of Maryland homeowners have underwater mortgages, meaning they owe more on their homes than they’re worth, according to figures released this week by real estate tracking firm CoreLogic.
Article Source Maryland Gazette
Maryland Atorney General Orders Contractors To Pay $15K In Penalties
BALTIMORE — Attorney General Doug Gansler has ordered two former Maryland contractors and their company to pay more than $15,000 in refunds and penalties.
The office’s Consumer Protection Division found that Greg Haigis and Scott Huff and their company, Bay Area Build and Design, violated the state’s Custom Home Protection Law.
Gansler said they failed to place money from customers in an escrow account, failed to have a surety bond and failed to finish constructing a home in Anne Arundel County.
Haigis and Huff were the subjects of an 11 News I-Team investigation in which about a dozen homeowners claimed the men collected payments but never finished the remodeling projects.
Read more: http://www.wbaltv.com/news/28409051/detail.html#ixzz1RULFLl9w
Maryland Home Remodeling Tax Credits | Nosignos – Leaked News Stories
The tax credits change in accordance to style of maryland home remodeling undertaking and how green the undertaking is. Below is a rapid summary of the …
www.nosignos.com/maryland-home-remodeling-tax-credits/
Sell my home? Not now, thanks
Annapolis Capital
Once their $40000 home remodeling project is finished this summer, they’ll be staying … About 24 percent of Maryland homeowners have underwater mortgages, …
Remodelers and Homeowners weigh in on new EPA regulations
RealEstateRama
… MCR, UDCR, President of Merrick Design and Build Inc. in Kensington, Maryland. … The remodeling industry, the bright spot in the housing economy, …
Home Builders group sues EPA, says Chesapeake restoration strategy …
Washington Post
… members in home building, remodeling, multifamily housing construction, … About 16000 are in the Chesapeake Bay watershed, which covers Maryland, …
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