Real Estate Report: The majority of buyers search online when looking for homes, in fact 95% of homebuyers use online websites, and 72% use a mobile or tablet app to assist in their home search, based on data from the National Association of Realtors Real Estate in the Digital Age 2017 report. With this in mind, it’s as important as ever to have high quality, professional looking photos. The first few photos that are inc ..
Real Estate Report: With the Federal Reserve raising interest rates last week by a quarter of a percentage point and signaling that the central bank is on track to raise rates twice more in 2018—homebuyers should pay close attention to interest rates and how it will affect their purchase power. Mortgage rates are at the highest levels that we’ve seen over the past 4 years, and while some buyers will not be affected ..
Real Estate Report: CMA vs. Appraisal To clear up any confusion, there is a definite difference between a Comparative Market Analysis (CMA) and an appraisal. Basically, they are two different levels of reports in determining value for a piece of property. The first report, a CMA, is usually completed by a licensed Realtor®, and is less comprehensive than a full-fledged appraisal. This report is used by Realtors® to provide buyers ..
Real Estate Report: In addition to low money down loans, such as FHA (3.5% down loan) and the USDA (100% financing loan), buyers can look to the state of Maryland, which offers many products to help homebuyers within the state achieve their dream of homeownership. The Maryland Mortgage Program (MMP) offers a range of programs that make purchasing and owning a home more affordable. There are three types of 30-year, f ..
Real Estate Report: The National Association of Realtors® official magazine, Realtor®Mag, recently published these eight tips for property managers and landlords to help prevent discrimination lawsuits—as fines for violations of Fair Housing Law are hefty, numbering in the tens of thousands of dollars per violation. DO apply your policies and procedures uniformly.Avoid running a full tenant screening report on some applica ..
Many renters want to become homeowners, but they are afraid that low credit score, debt or student loans may prevent them from their dream. Understanding credit scores, and what factors credit reporting bureaus consider most when generating scores, is crucial to being able to manage your credit score. The rule of thumb for an acceptable credit score to be approved for a home loan is 640. Some lenders and programs offer loans for credit sc ..
Real Estate Report: As of January 1, 2018, there are new residential smoke alarm requirements in the state of Maryland, as per a bill passed by the Maryland General Assembly in 2013. Maryland REALTORS® has provided information to help its members understand the new smoke alarm requirements. (An infographic of this topic can be viewed at Maryland REALTORS® website at mdrealtors.org.) In many ways, the law is simpler n ..
The Maryland Realtors® released their 2018 Legislative Priorities list for Realtors throughout the state to be aware of the key legislation being considered that will affect the real estate industry. Here are the summaries of the proposed bills: First-Time Homebuyer Savings Account: Maryland REALTORS® support tax-free savings accounts for first-time homebuyers. First-time homebuyers or individuals creating an account for a first-tim ..
Maryland REALTORS® released their Maryland Year End sales figures, and announced that in 2017, residential sales in Maryland climbed by 3.2 percent, or more than 2,500 homes across the state. Eighteen of Maryland's 24 jurisdictions posted gains in home sales ranging from 0.7 to 13.2 percent in 2017 as compared to 2016. In Worcester County, the gain in home sales was 9 percent—1,963 homes sold in 2016 as compared to 2017’s total num ..
An important affordable loan product for the Ocean Pines area is in jeopardy—the 100% financing USDA loan. The U.S. Department of Agriculture Rural Development Maryland/Delaware State Office has announced it is conducting a review of all areas under its jurisdiction to identify those areas which no longer qualify as rural for housing programs. Among those areas under review is Ocean Pines. The last rural area reviews by USDA we ..
- LWB Real Estate Report: Photos Sell
- LWB Real Estate Report: Rate Increases
- LWB Real Estate Report: CMA vs. Appraisal
- LWB Real Estate Report: MMP 2018 Options
- LWB Real Estate Report: Tenants Screening Do's & Don'ts
- LWB Real Estate Report: Credit Scores
- LWB Real Estate Report: Smoke Alarm Law
- LWB Real Estate Report: 2018 Legislative Priorities
- LWB Real Estate Report: 2017 Year End Figures
- LWB Real Estate Report: Ocean Pines & USDA Loan Issue
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