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Real Estate Report: remodels on the rise


"The growth is just unprecedented," says Ron Haskell, President of Maine Properties, LLC. Haskell is dealing with a dramatic rise in remodels. "Usually by now I'm trying to find out if our phones actually work and right now it's very, very active," Haskell ...


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STATEWIDE (WGME) -- The remodeling industry is booming{\/p}From kitchens to bathrooms, homeowners are expected to spend billions over the next year on renovations.{\/p}\"The growth is just unprecedented,\" says Ron Haskell, President of Maine Properties, LLC{\/a}.{\/p}Haskell is dealing with a dramatic rise in remodels.{\/p}\"Usually by now I'm trying to find out if our phones actually work and right now it's very, very active,\" Haskell says\"We're doing a lot of kitchen, bath renovations, a lot of additions, a lot of large renovations right now compared to what it's been in the past.\"{\/p}According to the Joint Center for Housing Studies of Harvard University, home renovation and repair spending will increase from 6.3% in the fourth quarter of this year, to 7.7% by the third quarter of next yearThe center's managing director says homeowners are projected to spend more than $330 billion on home upgrades and replacements, as well as routine maintenance.{\/p}\"It's really kind of an exciting time for remodelers, good ones,\" Haskell says.{\/p}Haskell thinks there could be a variety of reasons why.{\/p}\"Low interest rates, low unemployment, people believe they're going to have jobs, home equity loans are easy to get,\" says Haskell.{\/p}He also says there's a lack of available land.{\/p}\"If you want to live in this certain area, there's no lots available, so their alternative is leaving where they want to live to renovating,\" Haskell says, \"And we're seeing a lot of people do large renovations instead of building.\"{\/p}Haskell even thinks some homeowner are inspired by renovation television shows.{\/p}\"So we're getting inquiries from people that I think are watching TV and saying maybe I can do that too,\" Haskell says.{\/p}Haskell says they're so busy they're struggling to find skilled help like carpenters, so there's a wait right now of about three months.{\/p}\"We're seeing more inquiries right now than we would normally see in the middle of the summer,\" 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(WGME) -- The remodeling industry is booming{\/p}From kitchens to bathrooms, homeowners are expected to spend billions over the next year on renovations.{\/p}\"The growth is just unprecedented,\" says Ron Haskell, President of Maine Properties, LLC{\/a}.{\/p}Haskell is dealing with a dramatic rise in remodels.{\/p}\"Usually by now I'm trying to find out if our phones actually work and right now it's very, very active,\" Haskell says\"We're doing a lot of kitchen, bath renovations, a lot of additions, a lot of large renovations right now compared to what it's been in the past.\"{\/p}According to the Joint Center for Housing Studies of Harvard University, home renovation and repair spending will increase from 6.3% in the fourth quarter of this year, to 7.7% by the third quarter of next yearThe center's managing director says homeowners are projected to spend more than $330 billion on home upgrades and replacements, as well as routine maintenance.{\/p}\"It's really kind of an exciting time for remodelers, good ones,\" Haskell says.{\/p}Haskell thinks there could be a variety of reasons why.{\/p}\"Low interest rates, low unemployment, people believe they're going to have jobs, home equity loans are easy to get,\" says Haskell.{\/p}He also says there's a lack of available land.{\/p}\"If you want to live in this certain area, there's no lots available, so their alternative is leaving where they want to live to renovating,\" Haskell says, \"And we're seeing a lot of people do large renovations instead of building.\"{\/p}Haskell even thinks some homeowner are inspired by renovation television shows.{\/p}\"So we're getting inquiries from people that I think are watching TV and saying maybe I can do that too,\" Haskell says.{\/p}Haskell says they're so busy they're struggling to find skilled help like carpenters, so there's a wait right now of about three months.{\/p}\"We're seeing more inquiries right now than we would normally see in the middle of the summer,\" he says, 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