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.
The state of Maryland offers a unique program called Maryland SmartBuy, which can help buyers with student debt attain homeownership.
Anyone who sells a property in Maryland, but is a “non-resident” of the state of Maryland, must pay a withholding tax.
Most people are familiar with the VA Loan, which is a loan program through the Department of Veterans Affairs.
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,Read more
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 factorsRead more
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 interestRead more
Habitat for Humanity of Worcester County operates a ReStore located at 9026 Worcester Highway in Berlin.
Cash may be king in a sellers’ market, but buyers need to understand that the same is not true with financial institutions.
Information from a recent Sears Home Services survey is showing that the pandemic has prompted homeowners to reevaluate their homes.
In Worcester County, homeowners may utilize the zoning use called the Accessory Structure to gain additional living quarters.
With “for sale” inventory limited in many price points, sellers may be able to ask more for their home.
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 aheadRead more
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 theRead more
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.
When listing a home for sale, sellers should make sure they really “come out of the gate running.”
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,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.
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 toRead more
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 affordableRead more
The appraisal of a home is an important step in the real estate process, one that can certainly make or break a deal.
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.<> Read more
Some of the biggest misconceptions in buying a home are related to down payments and closing costs.
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 areRead more
"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 top on the list as far as return on your investment:
• New Entry Door: replacing your entry door withRead more
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 forRead more
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, theirRead more
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.Read more
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 acceptedRead more
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 firstRead more
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 fromRead more
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 prohibitRead more
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.
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,Read more
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)Read more
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, asRead more
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. In 2010, some of our beach markets saw foreclosure and short sales (collectively referred to as distressed properties), dominateRead more
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 with their fundraising activities and publicity, but will now take a more active roleRead more
I've just received my SFR designation, which stands for Short Sale and Foreclosure Resource. This is a nationally recognized Short Sales and Foreclosure Resource certification. The National Association of REALTORS® offers the SFR certification to REALTORS® who want to helpRead more
- Home Builders Association reports lumber prices rising
- Maryland SmartBuy 3.0 program discussed
- Recordation taxes, transfer fees
- Individual, business rates of withholding tax in Maryland
- Agricultural use assessment in Md.
- VA Loan obtainable through mortgage companies, banks
- Real estate market closes strong despite 2020 chaos
- Real estate year-end observations
- Record-setting low interest rates benefit home buyers
- Different levels of insurance policy coverage
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