Section 1031 of the Internal Revenue Code allows a real estate property used for business or held as an investment to be exchanged for another property that is of “like kind.”IRS notes that “properties ...

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, ...

A wetland delineation is the fieldwork that determines or outlines the boundary between uplands and wetlands on a property. It may be done with aerial photography, digital imagery ...

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 reports that real estate wire fraud continues to be one of the most prevalent cybercrimes in the U.S. About 13,638 people were victims of wire fraud in the real estate ...

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 ...

The COVID-19 pandemic kicked adaptations into overdrive, so the National Association of REALTORS® (NAR) recently provided a report called Adopt to Adapt, with insight into ...

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 State of Maryland has announced three new Sustainable Communities and one of them is located here on the lower Eastern Shore. The Maryland Department of Housing and Community Development announced last ...

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 ...

The Department of Housing and Community Development in Maryland (DHCD) offers a program called the Maryland WholeHome Program which can help homeowners make valuable repairs ...

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 ...

A recent Zillow report is showing that with sales up and values up during the pandemic real estate boom, more homes are selling for over the $1 million mark. The report also detailed that the typical ...

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 ...

Every house has a unique architectural style. Sometimes the architecture is a blend of more than one architectural style due to additions. The National Association of Realtors explains that ...

The National Association of Realtors provides a monthly home showings report based off showing information taken from Sentrilock lockboxes, which are used by the majority of real estate agents ...

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 ...

Governor Larry Hogan announced at the end of April that more than $200 million in financing tools and new programs will be made available to create new affordable housing opportunities in the ...

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 ...

Maryland has a Forest Conservation and Management program in place to encourage landowners to manage their forest land in return for a reduced and/or frozen property tax assessment. Any ...

If a piece of undeveloped land is being sold that has an agricultural use, but it is the intent to change the use to residential, then the Agricultural Transfer Tax and Surcharge applies at the point ...

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 ...

Solar panels on a home can be a great selling advantage, one that provides very affordable utility bills. This type of technology is called a solar photovoltaic (“PV”) panel system or“Solar ...

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 ...

In real estate, there are three levels of licensure: Salesperson, Associate Broker and Broker. Licenses are issued bythe Maryland Department of Labor, Licensing and Regulation, which is the licensing ...

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 ...

Worcester County’s Chesapeake Bay Critical Area Program, which was adopted in 1990, accommodates future growth within the Critical Area, while providing for conservation of fish, wildlife and plant habitats, ...

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 ...

With property reassessments going out last month for much of Worcester County, property owners might be wondering what their options are if they disagree with the values the county assessment office has ...

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 ...

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 ...

All homebuyersknow they should get a home inspection, but a common misconception is that yourhome inspector will also cover inspecting for termites. While home inspectorsmake a notation in the home inspection ...

Mortgage insurance is an additional cost that buyers will have to budget for in their total monthly costs when they are not able to put 20% or more down on the purchase of a home. Referred to as MI or ...

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 ...

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 ...

Per the National Association of Home Builders (NAHB), lumber prices have tripled over the past 12 months and have caused the price of an average new single-family home to increase by $35,872. This ...

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 ...

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 ...

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 aspects ...

The preservation of agricultural land is important to Maryland.In fact, the Maryland General Assembly declared that “it is in the general public interest of the State to foster and encourage farming activities ...

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 ...

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 ...

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 ...

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 ...

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 they ...

Habitat for Humanity of Worcester County operates a ReStore located at 9026 Worcester Highway in Berlin.The current hours of operation are Wednesday through Saturday from 9 a.m. to 2 p.m.Habitat for Humanity ...

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 ...

Information from a recent Sears Home Services survey is showing that the pandemic has prompted homeowners to reevaluate their homes.They surveyed about 1,000 people nationwide on how they feel about their ...

In Worcester County, homeowners may utilize the zoning use called the Accessory Structure to gain additional living quarters.The purpose is to allow no more than one accessory apartment per lot of record ...

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 ...

Since 1921, U.S. tax law has recognized that the exchange of one investment or business-use property for another of like-kind results in no change in the economic position of the taxpayer, and therefore, ...

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 ...

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 housing ...

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 ...

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 ...

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 localmortgage broker that can help review your current ...

 "Remodeling” magazine issues an annual “Cost vs. Value Report” that highlights the remodeling projects that offer the best bang for your buck. This year’s report touted the following projects as ...

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 transactionis the purchase of a title insurance policy. Title ...

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 ...

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 ...

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 ...

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

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 ...

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? ...

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 ...

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 asthe ...

Real Estate Report: Do You Have What it Takes to be a LandlordInvesting in a rental house can single handedly secure a college education or provide for a more comfortable retirement, but do you have what ...

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 ...

Real Estate Report: Three Helpful Hints to Save on Homeowners InsuranceHomeowner’s insurance is a necessity if your home is mortgaged, and this type of insurance covers the structure of your home and ...

As we say goodbye to 2010, it's time to look into this new year with rose colored glasses, but let's temper that optimism with some reality mixed in. In2010, some of our beach markets saw foreclosure ...

I'm proud to announce that I've increased my activities with our local Habitat for Humanity and was invited to join their Board of Directors. I've been working with HFH for over a year now, mostly helping ...

I've just received my SFR designation, which stands for Short Sale and Foreclosure Resource. This is a nationally recognized Short Sales and ForeclosureResource certification. The National Association ...