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By Jamie Smith Hopkins, The Baltimore Sun | July 6, 2010
After the worst real estate slump in decades, something surprising is afoot with homebuilders. They're building homes. The number of permits to construct new residences is on the rise again in the Baltimore area after years of sharp pullback in development activity. And across Maryland, builders are on a buying spree to snap up vacant lots before their competitors do. In the first four months of this year, builders took out permits to construct nearly 1,900 residential units in the Baltimore metro area, up 70 percent from the same period a year earlier.
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NEWS
By Jacques Kelly, The Baltimore Sun | December 6, 2012
Walter M. Stefanowicz, a retired homebuilder who developed sections of Timonium, Catonsville and White Marsh, died of cardiac arrest while recuperating from knee surgery Nov. 17 at St. Anthony's Hospital in St. Petersburg, Fla. The former Cockeysville and Federal Hill resident was 74. Born in Baltimore and raised on Clinton Street, he was born into a family of homebuilders. His father, Walter S. Stefanowicz, and his mother, Alice Michalski, established a residential construction business.
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NEWS
November 21, 2009
Two business partners who misused money intended for building new homes in Baltimore County were sentenced Friday to eight years in prison, with five of those years suspended, the state attorney general's office said. Walter Osborne Ely Jr., 46, and sister Kimberly Zahrey, 44, were also ordered to pay $188,768 to 19 victims after they get out. The state is pursuing a separate civil case against the siblings to try to get more money back. The state said the two, operating as JAE Developers, took payments as large as $50,000 from clients and spent the money on expenses with no connection to the buyers' homes.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | July 16, 2012
A national homebuilder paid almost $20 million for land in two Anne Arundel County locations that are both approved for development, a local land brokerage said Monday. The Annapolis-based Hogan Cos. said it represented builder D.R. Horton in the purchase last week from Koch Development. It was the biggest acquisition of unimproved land in Anne Arundel this year, Hogan said. D.R. Horton could not be reached for comment. Hogan said the builder bought Canterbury Village, 130 lots off Jones Station Road in Arnold, and Millstone Village, 116 lots between Reece Road and Loving Road in Severn.
BUSINESS
April 30, 1993
Columbia-based Ryland Group Inc. reported yesterday improved first-quarter earnings for its financial services unit, which helped offset a $5.1 million first-quarter pre-tax loss for the company's homebuilding operations.Roger W. Schipke, Ryland's chief executive, said the loss in homebuilding "reflects lower gross profit margins resulting from competitive price concessions in the latter part of 1992 and increased lumber prices.""Although our 1993 pricing is improving, we won't see this in our financial results until later in the year," Mr. Schipke predicted.
NEWS
By Erik Nelson and Erik Nelson,Staff writer | March 10, 1991
After taking the brunt of every slump in the homebuilding industry for the last 15 years while watching his employers get rich, Charlie Cockey decided he'd had enough.Last year the construction manager started his own business, Pioneer Inc. of Columbia, which offers people wanting custom-built homes a chance to be their own general contractors, even if they don't know the first thing about homebuilding.While many options are available to homeowners who want to participate in building their home, Cockey's approach is unique, said Bill Young, director of consumer affairs for National Association of Home Builders in Washington.
BUSINESS
By Ellen James Martin | February 7, 1992
Earnings for the Columbia-based Ryland Group were off sharply during the fourth quarter and year, as the company's booming financial-services group continued to cushion a severe slide in homebuilding operations.Nationally, the recession drove housing starts to a 46-year-low in 1991. But Ryland is already predicting that its homebuilding business is due for a rebound, said Nancy L. Smith, a Ryland Group vice president."We're already seeing an improvement in consumer confidence, basedon an improvement in new home orders in January," Ms. Smith said.
BUSINESS
By Ellen James Martin and Ellen James Martin,Staff Writer | October 7, 1993
Maryland's growing counties will face an acute shortage of homebuilding lots beginning next summer because of the lack of loans for land development, real estate analysts predicted yesterday.At the same time, lagging consumer confidence in the economy and fear of job losses will keep home sales in the Baltimore area static through 1994, the Greater Baltimore Board of Realtors was told at its annual convention."The resale markets are still a little weak, especially at the upper [price] end," said Robert Kleinpaste, president of the Legg Mason Realty Group.
BUSINESS
By Ellen James Martin and Ellen James Martin,Staff Writer | November 21, 1992
A New York housing industry analyst issued an unfavorable report yesterday on Columbia-based Ryland Group, saying she is "increasingly uneasy about Ryland's short-term prospects."The analyst, Barbara Allen of Oppenheimer & Co., said in a brief report that "homebuilding earnings are simply not recovering normally at this company, and we no longer believe that the problem is solely California." As a result she downgraded her earnings predictions for Ryland and removed her "buy" recommendation on the stock.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | April 26, 1996
In what analysts described as a significant harbinger, the Ryland Group Inc. yesterday reported net income of $939,000 for the first quarter, largely because its homebuilding segment generated its first profit in the three months ended in March since 1989.Just as important as the 36 percent earnings gain from the year before, the Columbia-based company's results indicate that it is finally beginning to execute a long-stated strategy aimed at improving its homebuilding operations, analysts said.
EXPLORE
August 15, 2011
Korey Homes, of Forest Hill, is celebrating 10 years in business this year. The business was founded in 2001 by father and son, Ken and Korey Smith. "We are humbled to be able to provide so many families with their dream homes and we look forward to many more years of building communities," Korey Smith, president of Korey Homes, said in a news release. Korey Homes is a Maryland-based company whose staff has decades of experience providing custom home building, home additions, outdoor patios, outdoor decks, sun rooms, garage building, home renovations, and home remodeling services to people in Baltimore City, Baltimore County, Cecil County, and Harford County, as well as York County and Southern Pennsylvania.
NEWS
April 25, 2011
Battlefield preservation, since it is a part of our history, means nothing, absolutely nothing, to developers of cram-em-in houses and shopping centers ("Modern life assaults Md. Civil War battlefields," April 25). It's all part of the dumbing down and greed prevalent in the USA today. I await the development of Valley Forge with cookie cutter cabins erected by Shamble Brothers. F. Cordell, Lutherville
FEATURES
By Dennis Hockman, Chesapeake Home | July 24, 2010
Few architects and builders today are recommending trendy architectural elements to clients. Instead, house pros are mining the history of residential design to extract elements and styles that have worked and keep working, hoping to construct timeless residences that don't fall out of fashion. When looking at the general direction of residential design, it's possible to suss out certain long-term trends, tracing an evolution of the way houses look. This is true even here in the Mid-Atlantic, where numerous remnants of colonial architecture survive and the prevailing taste leans toward 16th, 17th, and 18th century European (lots of French and even more English)
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | July 6, 2010
After the worst real estate slump in decades, something surprising is afoot with homebuilders. They're building homes. The number of permits to construct new residences is on the rise again in the Baltimore area after years of sharp pullback in development activity. And across Maryland, builders are on a buying spree to snap up vacant lots before their competitors do. In the first four months of this year, builders took out permits to construct nearly 1,900 residential units in the Baltimore metro area, up 70 percent from the same period a year earlier.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | July 6, 2010
The bonding company for a defunct homebuilder is paying $460,000 to Maryland consumers who weren't refunded the deposits they'd made for new homes that were never built, the state attorney general's office said Tuesday. Arch Insurance Co. — the bonding company for Equity Homes — has handed the money over to the attorney general's Consumer Protection Division, which will handle the consumer claims. The Fairfax, Va.-based Equity Homes, which closed in 2008, was building in Prince George's and Montgomery counties, the state says.
NEWS
By Meredith Cohn and Meredith Cohn,meredith.cohn@baltsun.com | January 23, 2010
Gov. Martin O'Malley got an early endorsement for his re-election bid Friday when the Maryland League of Conservation Voters announced its support for him and Lt. Gov. Anthony G. Brown. It's so early in the political season that few challengers have announced their intentions to run. But Cindy Schwartz, the group's executive director, said, "It seemed clear to us no one was going to run with a better environmental record." She pointed to the governor's record on issues including the Chesapeake Bay, global warming, land conservation, clean energy and public transportation.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | October 23, 1998
The Ryland Group Inc., continuing a financial turnaround, yesterday reported that its third-quarter net profit climbed 36 percent.The Columbia-based homebuilder attributed the increase in net income -- to $9.2 million, or 61 cents a share, from $6.7 million, or 42 cents a share -- primarily to improved sales in new communities, higher profit margins, lower interest rates and the effectiveness of its land-buying and new-product strategies.Ryland's revenue in the quarter was $462.2 million, a 10 percent gain from last year.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | September 11, 1999
The Ryland Group Inc.'s No. 2 executive for nearly five years intends to leave the Columbia-based homebuilder at the end of this month.Michael D. Mangan, a Ryland executive vice president and its chief financial officer, will resign from the company "to pursue other personal and professional opportunities," the company said.Mangan joined Ryland in November 1994 as part of a management restructuring led by R. Chad Dreier, the company's chairman and chief executive officer.In recent quarters, after several dismal performances, Ryland appears to have turned a corner financially.
NEWS
By Meredith Cohn | meredith.cohn@baltsun.com | January 23, 2010
Gov. Martin O'Malley got an early endorsement for his re-election bid Friday when the Maryland League of Conservation Voters announced its support for him and Lt. Gov. Anthony G. Brown. It's so early in the political season that few challengers have announced their intentions to run. But Cindy Schwartz, the group's executive director, said, "It seemed clear to us no one was going to run with a better environmental record." She pointed to the governor's record on issues including the Chesapeake Bay, global warming, land conservation, clean energy and public transportation.
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