Last week, we discussed the current sellers’ market and how it is difficult to get offers accepted when facing multiple offer situations.

Read more

Buyers are looking for ways to strengthen their offer in this competitive seller’s market.

The state of Maryland offers a unique program called Maryland SmartBuy, which can help buyers with student debt attain homeownership.

Read more

Anyone who sells a property in Maryland, but is a “non-resident” of the state of Maryland, must pay a withholding tax.

Lack of inventory, rising prices, multiple offers on new listings—all confirmation that we are indeed in a sellers’ market.

Finding a home

The Maryland Real Estate Commission is the regulatory agency that provides licenses to real estate brokers and agents.

Its office receives 400-500 consumer complaints annually.

Maryland Real Estate Commission is a special funded entity in which license fees fund its operations as well as the Real Estate Guaranty Fund.

Maryland Realtors have provided

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 sales price average increase for Worcester county at 20 percent higher than last year,

This year has produced noticeable real estate market shifts, and in many cases the surge in real estate demand was fueled by the effects of covid-19.

Here on the shore, we saw increases in feeder market sales due to the consumers desire to have a safe, drive-to vacation spot.

Various other factors

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

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

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 include results on: coliform, e-coli, nitrates/nitrites, sand, turbidity, pH, chlorine, iron and lead.

It is not common to find

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 how can a first-time homebuyer strengthen their chances of beating out other buyers?

This is one of the hardest, but

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

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

With two months left in this bizarre 2020, and the continuation of a very strong sellers market, many buyers are asking what impact continued economic uncertainty could have on home prices and will

Information from a recent Sears Home Services survey is showing that the pandemic has prompted homeowners to reevaluate their homes.

Read more

With “for sale” inventory limited in many price points, sellers may be able to ask more for their home.

Read more

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 what’s ahead

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 reauthorization of the

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.

Read more

When listing a home for sale, sellers should make sure they really “come out of the gate running.”

Read more

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.

Read more

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

Below is a 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 affordable

Condo sales have been soaring in the Ocean City and surrounding beach markets.

Purchasing a condominium differs

Are you looking to buy a home in Wicomico County? The Maryland Department of Housing and Community Development, in partnership with Wicomico County, is providing attractive financial incentives to help make buying new

With low inventory in our market, and a high buyer demand, we are experiencing many multiple-offer situations on properties.

Read more

The appraisal of a home is an important step in the real estate process, one that can certainly make or break a deal.

Read more

Some of the biggest misconceptions in buying a home are related to down payments and closing costs.

Read more

Listing inventory is at record lows both around the country and in our local area, and buyer demand is coming back as the country eases restrictions, so it’s a great time to sell

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 that “will” happen, such as AC isn’t cooling house down,

The National Association of Realtors® sent out a press release last week commending the Department of Housing and Urban Development for finalizing new Federal Housing Administration condominium loan policies. The changes, many of which NAR has championed for over

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 allow you to negotiate the contract

Customary in the state of Maryland is a split of transfer and recordation charges between a buyer and a seller. Section 14-104(b) of the Real Property Article, Annotated Code of Maryland provides that, unless otherwise negotiated in the contract

The local multiple list system is called Bright MLS. Bright tracks how long a listing has been active with the use of Days on Market (DOM) and Cumulative Days on Market (CDOM). The DOM provides a look at how

Residential home prices rose in June compared to the same period of 2017, according to Maryland REALTORS. Average home prices rose by 2.9 percent for the fifth month in a row, while median prices increased by 4.0 percent as

Real Estate Report:

Millennials, age 18 to 35, are now the largest group of homebuyers, according to the National Association of Realtors. With this in mind, it’s important to know what it is they are looking for in a home.

At the top of the millennials’ wish

Most people want to own their own home—it gives a sense of security and stability. It also allows for more flexibility in personalizing and renovating your home to make it your own. Most importantly, it allows the ability to build wealth as your equity grows. But, can

Real Estate Report:

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 include results

Real Estate Article:

Maryland REALTORS recently released a brief report on 2018 Maryland legislation key issues affecting the real estate industry. REALTORS throughout the state provide advocacy and participation through legislative Calls for Action during the

Real Estate Report:

Homebuyers may be eligible to receive up to $5000.00 in closing cost assistance through Bank of America’s Home Grant program. These funds can be used to help with nonrecurring closing costs such

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

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

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:

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

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

There is a Federal Housing Administration program that allows for the financing of a mobile home. It is called the Title I program, and it allows FHA approved lenders to make loans from their own funds to eligible borrowers

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 cost in the purchase of a home; and, closing costs are another separate

Many homebuyers focus on a max purchase price when searching for a new home. This number is usually based on how much a lender has told them they are approved for and/or a total monthly payment that they feel comfortable they can afford. But there are some

Contingencies Provide Buyers an Important Check and Balance

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

In the 2016 session of the Maryland General Assembly, legislation under House Bill 1192 was passed that alters the contents of required disclosures, authorizes additional fees, and sets limits on the fees that may be charged to a seller by a condominium council of unit owners for

Most real estate agents are Realtors®, which means they are members of the National Association of Realtors (NAR). By belonging to NAR, all member Realtors are bound by NAR’s Code of Ethics. But beyond the ethics code, NAR developed

For those considering a purchase of a new home in 2017, there are steps you can take to prepare yourself financially. The first step is to contact a local mortgage broker that can help review your current financial situation—but the two most important aspects to define are

The National Association of Realtors (NAR) conducted a survey that shows real estate like-kind exchanges are an important vehicle for disposing of and acquiring properties and support the nation's financial growth, job creation and economy. NAR's Like-Kind Exchanges: Real Estate Market Perspectives 2015 surveyed

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

In a recent news release from MAR, it

The U.S. House and Senate approved a package of tax extensions that include an important provision that helps distressed homeowners through extending the Mortgage Forgiveness Tax Relief Act for all of 2014.

The approval will be retroactive for homeowners who sold their home during 2014, and the act

CoreLogic, a data and analytics company, recently released its National Foreclosure Report with data through August 2014—and it shows foreclosure inventory is down.

The report states that 45,000 foreclosures were completed in August, a 22.2 percent year over year decline from 58,000 in August 2013.Approximately 629,000

Have you ever wondered what qualifications your Realtor encompasses?

To be a licensed Realtor, there is a detailed list of requirements, not only to obtain your license initially, but also to maintain your license with ongoing continuing education.

To initially obtain a license from Maryland, Realtors are

The Federal Housing Administration (FHA) issued a news release announcing its "Blueprint for Access".

This blueprint outlines the additional steps the FHA is taking to expand access to credit for underserved borrowers. These steps include encouraging a broader use of housing counseling and homebuyers will qualify for

Have you ever dreamed of delving into real estate investments but didn't know how to get started?

There is an online, free resource called BiggerPockets.com that offers real estate networking and information resource platforms, created for professionals, investors, homeowners, and other aficionados. With over 150,000 members, their

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 as well as monthly insurance premiums that can really push up the monthly cost of their loan, which reduces purchase power.

So you want to buy a home, but don’t know where to begin. Many prospective homebuyers call an agent to see a property before figuring out what they really want in a home and also before the other crucial first step — getting pre-qualified.

Buyers should sit

The National Association of Realtors recently released information about REach, the strategic accelerator for technology startups created and managed by the NAR's investment fund, Second Century Ventures.

Applications to join the second-year class are being accepted

Real Estate Report: FHA Introduces Changes to Help Strengthen Its Financial Health.

In a recent Housing of Urban Development (HUD) news release, a series of changes were announced that will allow the agency to better manage risk and further strengthen the health of the Federal Housing Administration's (FHA)

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 as well as monthly insurance premiums that can really push up the monthly cost of their loan, which reduces purchase power.

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 sales during the housing bust who are striving to be homeowners again.

It is estimated

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 important first

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 housing statistics report for April – June, 2012 shows that overall sales volume took a hit

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 more significant changes in 2012.

FHA Fees Change: Effective April 1, 2012 there will be an increase to

$20 billion in relief for homeowners

The federal government and 49 state attorneys general have settled a lawsuit for $25 billion against the country's five biggest banks for foreclosure processing and mortgage loan servicing problems.

Holding out to try and find the lowest price is not always the best strategy...

Are your feet stuck in the sand when it comes to investing? Not sure what to do with your money in today’s economic climate? Here’s an interesting perspective on today’s financial opportunities from

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 recent decision by the Federal Housing Administration to extend its waiver on property anti-flipping rules through 2012.

FHA rules typically prohibit

Real Estate Report: "Move Up" Buyers Stuck in Mud

Our real estate market is missing an important element these days. Many homeowners who would like to upgrade to a larger home, commonly referred to as the "move up" buyer, have to hold off making a move.

A

Real Estate Report: Do You Have What it Takes to be a Landlord

Investing in a rental house can single handedly secure a college education or provide for a more comfortable retirement, but do you have what it takes to be a landlord?

Success in real estate investing,

Have you looked at real estate ads lately, and wondered if there was a printing error that caused a box of squiggly lines to appear??

Well, it's no mistake. It's one of the newest mobile internet technologies using 'bar codes", or more specifically dubbed QR codes.

A QR (Quick Response)

Real Estate Report: Three Helpful Hints to Save on Homeowners Insurance

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

Distressed properties—meaning foreclosures, bank-owned (REO) and short sales, where the property is being sold for less than the mortgage due—are undeniably playing a role in keeping our housing values depressed locally. But…how much so, and when will we see the light at the end of the