Last week, we discussed the current sellers’ market and how it is difficult to get offers accepted when facing multiple offer situations.
Buyers are looking for ways to strengthen their offer in this competitive seller’s market.
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 gains.
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
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, butRead more
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.
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
When listing a home for sale, sellers should make sure they really “come out of the gate running.”
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
With low inventory in our market, and a high buyer demand, we are experiencing many multiple-offer situations on properties.
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
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 sellRead more
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 overRead more
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 contractRead more
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 asRead more
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’ wishRead more
Real 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 payRead more
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:Read more
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 itsRead more
With 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 forRead more
Smells 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.
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 surveyedRead 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
- Options exist for homebuyer looking to waive inspections
- Waiving appraisal effective strategy for select buyers
- Home sales slip in February after gains in months prior
- 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
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