Lauren's Blog
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Real estate market closes strong despite 2020 chaos
Thursday, January 07, 2021 Lauren BuntingThe 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,
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Real estate year-end observations
Thursday, December 24, 2020 Lauren BuntingThis 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
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Beat other buyers in multiple bid situations
Thursday, November 19, 2020 Lauren BuntingIn 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
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Undersupply of homes sets up bidding wars
Thursday, October 29, 2020 Lauren BuntingWith 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
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Lenders seek verification of cash deposits in accounts
Thursday, October 15, 2020 Lauren BuntingCash may be king in a sellers’ market, but buyers need to understand that the same is not true with financial institutions.
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Pandemic creates growing homeowner dissatisfaction
Thursday, October 08, 2020 Lauren BuntingInformation from a recent Sears Home Services survey is showing that the pandemic has prompted homeowners to reevaluate their homes.
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Housing prices increase, but appraisals lag behind
Thursday, September 24, 2020 Lauren BuntingWith “for sale” inventory limited in many price points, sellers may be able to ask more for their home.
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Housing market could be stronger
Thursday, September 17, 2020 Lauren BuntingThe 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
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How sellers can get best offer on houses in market
Thursday, August 20, 2020 Lauren BuntingWhen listing a home for sale, sellers should make sure they really “come out of the gate running.”
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Prepare for storms with insurance, actions
Thursday, August 06, 2020 Lauren BuntingWith 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.
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New state legislation impacts HOA and condo associations
Thursday, July 23, 2020 Lauren BuntingBelow 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
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Financial incentives available
Friday, June 26, 2020 Lauren BuntingAre 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
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Validity of contracts explained
Thursday, June 18, 2020 Lauren BuntingWith low inventory in our market, and a high buyer demand, we are experiencing many multiple-offer situations on properties.
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Appraisal of home important part of real estate process
Thursday, June 11, 2020 Lauren BuntingThe appraisal of a home is an important step in the real estate process, one that can certainly make or break a deal.
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OC housing market strong because of low interest rate
Thursday, June 04, 2020 Lauren BuntingDemand 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.
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Now great time to sell home, but take extra safety steps
Thursday, May 21, 2020 Lauren BuntingListing 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
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FHA Condo Rule Changes
Sunday, September 01, 2019 Lauren BuntingThe 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
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Transfer and Recordation Taxes in MD
Monday, July 01, 2019 Lauren BuntingCustomary 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
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Days On Market Calculations in Bright MLS
Saturday, June 01, 2019 Lauren BuntingThe 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
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LWB Real Estate Report: Market Update
Monday, August 27, 2018 Lauren BuntingResidential 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
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LWB Real Estate Report: Millennials
Thursday, July 19, 2018 Lauren BuntingReal 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
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LWB Real Estate Report: Bright MLS
Thursday, June 21, 2018 Lauren BuntingReal Estate Report:
A new multiple list service (MLS), called Bright MLS, is gearing up to take effect in the Delmarva area that will cover the entire state of Maryland and
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LWB Real Estate Report: Rate Increases
Tuesday, March 27, 2018 Lauren BuntingReal 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
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LWB Real Estate Report: 2018 Legislative Priorities
Tuesday, February 06, 2018 Lauren BuntingThe 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:
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LWB Real Estate Report: Ocean Pines & USDA Loan Issue
Thursday, January 25, 2018 Lauren BuntingAn 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
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LWB Real Estate Report: Worcester County Market in 2017
Tuesday, December 26, 2017 Lauren BuntingWith another strong year in real estate coming to a close, let’s take a closer look at our local area to see where the numbers stacked up for 2017 sales. The Maryland Association of REALTORS (MAR), releases sales information on a monthly basis, but the figures for
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LWB Real Estate Report: Importance of Home Scents
Friday, December 01, 2017 Lauren BuntingSmells are an important factor when listing your home for sale, right up there with the visual presentation of a home. Top smells to check for are: garbage, pet smells, mold, body odor and tobacco.
When
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Like-kind swaps have important tax implications
Tuesday, August 25, 2015 Lauren BuntingThe 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
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Real Estate in the New Year
Tuesday, January 04, 2011 Lauren BuntingAs 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), dominate
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Recently Joined Habitat for Humanity of Worcester County as a Board Member
Sunday, August 01, 2010 Lauren BuntingI'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 role
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Short Sale and Foreclosure Resource Certification Obtained
Tuesday, February 23, 2010 Lauren BuntingI'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 help
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Recent Posts
- Worcester County following Md. Forest Conservation Act
- Cost effective home staging tips
- Real estate market closes strong despite 2020 chaos
- Real estate year-end observations
- Beat other buyers in multiple bid situations
- Undersupply of homes sets up bidding wars
- Lenders seek verification of cash deposits in accounts
- Pandemic creates growing homeowner dissatisfaction
- Housing prices increase, but appraisals lag behind
- Housing market could be stronger
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