Effective this week, Fannie Mae and Freddie Mac backed loans will begin to require additional information as part of the condominium review process. At the direction of the Federal Housing FinanceAgency ...

In 2023, the Maryland State Legislature convened on January 11th and adjourned 90 days later on April 10th. Maryland REALTORS® issues a report each year on the Maryland Legislative ...

In the past two week’s article, we reviewed the Maryland General Assembly new legislation requiring all condominiums, homeowner associations, and housing cooperatives to undertake regular ...

In last week’s article, we reviewed the Maryland General Assembly new legislation requiring all condominiums, homeowner associations, and housing cooperatives to undertake regular reserve studies ...

The Maryland General Assembly has passed new legislation effective October 1, 2022, requiring all condominiums, homeowner associations, and housing cooperatives to undertake regular reserve ...

Consumers can get confused when it comes to dual agency in real estate. The Maryland Real Estate Commission describes dual agency below: The possibility of dual agency arises ...

According to the National Association of Realtors (NAR), single women comprise the second largest group of homebuyers. As of 2023, single women made up 17 percent of all homebuyers. Contrastingly, ...

Anyone who sells a property in Maryland, but is a “non-resident” of the state of Maryland, must pay a withholding tax. Recently the Maryland Association of Realtors released information on various ...

The National Association of REALTORS (NAR) website, www.realtor.org, has information on county median home prices and monthly mortgage payments across the country. NAR applies the House Price ...

The Maryland Department of Housing and The Maryland Department of Housing and Community Development (DHCD) administers a State of Maryland tax credit for residents of the state who ...

In mid-January, the Federal Housing Finance Agency (FHFA)announced further changes to Fannie Mae’s and Freddie Mac’s (the Enterprises) single-family pricing framework by introducing redesigned and ...

Homeowner’s insurance is a necessity if your home is mortgaged, and this type of insurance covers the structure of your home and your personal property, as well as your personal legal responsibility ...

Maryland REALTORS® issued a housing statistics report showing that Maryland home sales dropped 41.9% to 5,124 units in December 2022, against 2021’s figure of 8,818 units. Home sales prices ...

 Since 1969, the REALTORS® Political Action Committee (RPAC), has promoted the election of pro-REALTOR® candidates across the United States. The purpose of RPAC is to use voluntary ...

The National Association of REALTORS®’ 2022 Profile of Home Buyers and Sellers report shows that first-time home buyers have dropped to their lowest numbers on record. NAR further ...

2022 was a year in which we saw a shift in the real estate market: increasing mortgage rates, reduction in the volume of sales, but no increase in inventory resulting in prices ...

Back in the beginning of October, Maryland REALTORS® rolled out changes to its statewide forms library, which contains contracts, disclosures and addenda that members of Maryland ...

C-PACE is the acronym for Commercial Property Assessed Clean Energy. C-PACE programs provide private financing for commercial property owners to upgrade buildings with energy, resiliency, and environmental ...

The multiple list service, BrightMLS, that provides real estate data in the Mid-Atlantic, coveringsix states (Delaware, Maryland, New Jersey, Pennsylvania, Virginia, West Virginia and theDistrict of Columbia), ...

The National Association of REALTORS®’ conducted the 2022 Appraisal Survey, and the results were published showing forty-seven percent of real estate professionals say they have had a transaction fall ...

Last year, Governor Larry Hogan issued a proclamation that October 30th is Weatherization Day in Maryland. The Maryland Department of Housing and Community Development (DHCD) is marking ...

Governor Larry Hogan announced last weeknearly $32 million in project awards through the Maryland Department of Housing and Community Development’s (DHCD) 2022 application round for federal Low Income ...

The talk about town related to real estate right now is mortgage rates are on the rise. To provide some guidance, here’s what industry experts are saying about the present and possible future ...

The National Association of Realtors explains the differences and the pros and cons to both mediation and arbitration, alternative dispute resolution options when a dispute arises from a real ...

Governor Larry Hogan announced last weekthat the Maryland Department of Housing and Community Development (DHCD) has expanded the state’s landmark SmartBuyinitiative to address rising housing ...

Condominium associations provide master policy insurance coverage, but a master policy usually covers only the building’s exterior and common areas. To have coverage for what is inside ...

A well-planned open house allows potential buyers to picture how life in this home would be, and in the summer, people tend to be more relaxed; it’s the time of vacations and lazy days. So making ...

Maryland REALTORS® released information on statewide June home sales. Their release states that home sales continued to slow down as prices continued to rise, according to ...

Appraisals in a sellers’ market can be troublesome, and transactions can fall apart when appraisals come up short—creating an appraisal gap. An appraisal gap is the difference between market ...

In 2022, the Maryland State Legislature convened on January 12th and adjourned on April 11th. Maryland REALTORS® issues a report each year on the Maryland Legislative session to summarize ...

In 2022, the Maryland State Legislature convened on January 12th and adjourned on April 11th. Maryland REALTORS® issues a report each year on the Maryland Legislative session ...

One of the important steps during a real estate purchase is conducting a title search. The title search is just one of the buyer’s closing cost expenses and is usually ordered ...

The month of April this year celebrated the 54th anniversary of the Fair Housing Act, the landmark civil rights law signed by President Lyndon B. Johnson on April 11, 1968, that made discrimination ...

The Maryland Department of Housing and Community Development’s Maryland Mortgage Program announced the launch of two new loan products to provide higher levels of down payment and closing cost assistance. ...

The shift in interest rates is in motion. According to Forbes.com, mortgage rates have jumped 1.5 percentage points during the first three months of this year. They further communicated that ...

You know the old tune by Tennessee Ernie Ford: You load sixteen tons, what do you get; Another day older and deeper in debt; Saint Peter don't you call me 'cause I can't go; I owe my soul ...

What is equitable interest? An equitable interest is an "interest held by virtue of an equitable title (a title that indicates a beneficial interest in property and that gives the holder ...

Homeowner’s insurance is a necessity if your home is mortgaged, and this type of insurance covers the structure of your home and your personal property, as well as your personal legal responsibility (or ...

It’s a hot real estate market right now, but we all remember the real estate “crash era” that began in 2008. That real estate downturn brought about many changes in financing and how loans are approved. ...

With inflation and national average costs of moving on the rise, budgeting in this expense when selling your home is important. Below are some tips for having a smooth move when selling.Try to pick an ...

The number one question most real estate agents are asked right now is "What is the market doing?". The best way to answer that question is to watch the market statistics and listen to the various industry ...

According to a recent article released by the National Association of Realtors, consumers can expect slower housing price appreciation, easing inflation and rising interest rates in 2022. This statement ...

2021 was another banner year in real estate that ended very strong—here’s an “at a glance” recap of some of the various market stats.The average sales prices varied monthly throughout the year, but September ...

The National Flood Insurance Program’s (NFIP) has a new rating methodology, Risk Rating 2.0, and FEMA says it will deliver rates that are easier to understand and better reflect a property’s unique flood ...

A common question from sellers is “when is the best time to sell my house?”. But, the answer to that question is multi-faceted and dependent on market conditions.Traditionally, the slowest buyer demand ...

Maryland REALTORS® just released real estate statistics information from the October 2021 housing market analysis. The market continued its monthly trend of a decrease in units sold, down 8,665 in 2021, ...

Landlords have an importantdecision to make when selecting a tenant to rent their investment propertyyear-round. Property owners have traditionally interviewed prospective tenantsin person and asked for ...

Earnest money is a deposit made to a seller that represents a buyer's good faith to buy a home. This deposit money can be called an escrow deposit, good faith deposit, or earnest money. But, whatever ...

FEMA is changing the way it views flood risk and prices flood insurance. The National Flood Insurance Program’s (NFIP) new rating methodology, Risk Rating 2.0, and FEMA says it will deliver rates that ...

Condominium associations provide master policy insurance coverage, but a master policy usually covers only the building’s exterior and common areas. To have coverage for what is inside your condo unit, ...

With low inventory in our market,and a high buyer demand, we are experiencing many multiple offer situations onproperties. It’s important to pay attention to contract details to be sure thatverbal agreements ...

Second home mortgage requirements are a bit stricter than first home loans, and a bit stricter than in years past with some new guidelines coming into effect this year. Fannie Mae and Freddie Mac ...

Most buyers know they need to save for both a down payment and closing cost money. Buyers also need to pay down their debt to be sure their debt-to-income ratios are under the various thresholds for USDA, ...

A home warranty is different from a homeowner insurance policy. Homeowners insurance policies cover things that “might” happen, such as theft, fire, storms/floods. But, home warranty plans cover things ...

There are a few options in our local multiple list system (MLS) for letting the public know about a property for sale. These different statuses can become confusing as they are disseminated across the ...

Buyers usually pay most of the closing costs associated with a purchase, of which, transfer and recordation taxes are one piece of the total closing costs. Customary in the state of Maryland is a split ...

Purchasing a condominium differs from buying a single-family home in more ways than the obvious. Of course, condo ownership offers buyers the convenience of maintenance free living—but when looking into ...

June, 2021 was proclaimed National Homeownership Month by President Joe Biden. The White House issued a news release statement from President Biden stating, “We also know that people of color continue ...

Last week, we discussed the current sellers’ market and how it is difficult to get offers accepted when facing multiple offer situations. The article last week detailed using appraisal waivers, but additional ...

Buyers are looking for ways to strengthen their offer in this competitive seller’s market. One tactic that carries a lot of weight with sellers is waiving your appraisal contingency. But not every ...

The state of Maryland offers a unique program called Maryland SmartBuy, which can help buyers with student debt attain homeownership. This program can also significantly increase a buyer’s purchasing ...

According to the National Association of Realtors®, existing-home sales declined in February, following gains in both January, 2021 and December, 2020. However, all four U.S. regions recorded year-over-year ...

Lack of inventory, rising prices, multiple offers on new listings—all confirmation that we are indeed in a sellers’ market. Finding a home in today’s market is challenging for buyers, but there are ways ...

Most people are familiar with the VA Loan, which is a loan program through the Department of Veterans Affairs.These loans are available to veterans and active-duty military members and they offer no down ...

The year 2020 in real estate ended very strong. Here’s an “at a glance” recap of some of the various market stats.• The average sales prices varied monthly throughout the year, but June had the highest ...

There are so many advantages to owning your own home, and even with prices on the rise, affording a new home may be easier than you think due to continued record-setting low interest rates.In fact, according ...

When it comes to restrictions that local governments impose on property, there are avenues such as a variance or a special exception that owners can pursue to request changes, but the two are very different.A ...

An important inspection for homes, especially those on a private well water supply, is the water quality test.This test usually covers bacterial, chemical and lead testing in our area. These water tests ...

In a strong real estate market with lower inventory, we are experiencing numerous multiple offer situations, especially on the lower price point category of homes that first-time homebuyers would be seeking.So ...

Most commonly used in the state of Maryland to protect a buyer and ensure that title to a property is clear and marketable in a real estate transaction, is the purchase of a title insurance policy.Title ...

Homeowners in the state of Maryland should be aware that as of Jan. 1, 2018, there were new residential smoke alarm requirements put into place, as per a bill passed by the Maryland General Assembly in ...

Cash may be king in a sellers’ market, but buyers need to understand that the same is not true with financial institutions.So, if you don’t have all of the cash funds readily available already in a banking ...

With “for sale” inventory limited in many price points, sellers may be able to ask more for their home.But, sellers need to remember that the home will still need to appraise adequately if the buyer is ...

The National Association of Realtors Chief Economist, Lawrence Yun, released a video report that dissects the latest homes sales numbers, talks about what could make the market even stronger, and forecasts ...

The National Flood Insurance Program’s authority to provide flood insurance is currently scheduled to expire on Sept. 30.The National Association of Realtors is making every effort to secure a long-term ...

At the beginning of the summer, we reported that demand has been very strong in the Ocean City market and surrounding areas since the end of April.Demand in the Ocean City area has remained robust. We ...

When listing a home for sale, sellers should make sure they really “come out of the gate running.”The following are do’s and don’t’s for sellers when listing their house for sale to ensure the least amount ...

With the recent Tropical Storm Isaias impacting our coastal area, the importance of having a plan in place for storm events to protect your property is top of mind.In addition to purchasing flood insurance, ...

Below is the final summary of the 2020 legislative session of the Maryland General Assembly on items that were passed and put into legislation affecting the real estate industry as it relates to both ...

Condo sales have been soaring in the Ocean City and surrounding beach markets.Purchasing a condominium differs from buying a single-family home in more ways than the obvious.Condo ownership offers buyers ...

With low inventory in our market, and a high buyer demand, we are experiencing many multiple-offer situations on properties.It’s important to pay attention to contract details to be sure that verbal agreements ...

The appraisal of a home is an important step in the real estate process, one that can certainly make or break a deal.An appraisal is a valuation of a property done by a professional, licensed individual ...

Demand has been very strong in the Ocean City market over the past month due to both being in our spring market (although somewhat postponed due to covid-19) and historically low interest rates.With some ...

Some of the biggest misconceptions in buying a home are related to down payments and closing costs.The first misconception is that a down payment is the same thing as closing costs.Down payments are one ...

Purchasing a new home is normally the biggest investment you’ll ever make and once you’ve bought a home, it’s a decision you can’t easily reverse.Contracts of sale offer various contingency clauses that ...

In the 2016 session of the Maryland General Assembly, legislation under House Bill 1192 was passed that alters the contents of required disclosures, authorizesadditional fees, and sets limits on the fees ...

Purchasing a condominium differs from buying a single-family home in more ways than the obvious. Of course, condo ownership offers buyers the convenienceof maintenance free living since you don’t have ...

The Maryland Association of Realtors (MAR) makes great efforts in legislative advocacy at the state level, with a focus on supporting and developing legislationthat helps the real estate industry and ...

Many buyers are aware of both FHA 3.5 percent down loan and the USDA 100% financing loan. Both of these loans require upfront mortgage insurance fees aswell as monthly insurance premiums that can really ...

Real Estate Report: Real Estate Rebound Buyers There is a contingency of buyers referred to as "rebound buyers" or "boomerang buyers"--these are the people who lost homes in foreclosures or short salesduring ...

Real Estate Report: Important first steps to buying a home With affordability on the rise, and interest rates at all time lows, more people are asking the question—should I rent or buy? The most ...

2nd Quarter Worc. County Housing Statistics.The MD Association of Realtors released their housing statistics for the 2nd quarter of 2012 and the numbers show some mixed blessings for Worcester County.The ...

Changes Affecting Home Buyers and Sellers: Various legislative changes and industry modifications are made throughout the year that can affect both homebuyers and sellers. Here are two of the moresignificant ...

Buyers looking to purchase a home with an FHA backed loan will continue to have more leeway to purchase directly from banks or investors with a recentdecision by the Federal Housing Administration to ...