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.
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 homeRead more
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 providedRead 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
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 findRead more
Cash may be king in a sellers’ market, but buyers need to understand that the same is not true with financial institutions.
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
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.
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.
Some of the biggest misconceptions in buying a home are related to down payments and closing costs.
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
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,Read 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
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:
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 resultsRead more
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 theRead more
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 determiningRead more
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 helpRead more
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 homeRead 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
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.
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 clausesRead more
Due to recent state legislation, all rental dwelling units in Maryland will be required to have a carbon monoxide alarm installed within the dwelling on every level, including the basement, on or after April 1, 2018. However, like leadRead more
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 developedRead more
Real Estate Report: The Ins and Outs of a Short Sale
You've probably heard the term "short sale" by now—a short sale is the phrase used when a homeowner is selling their home, but the list price and/or sale price is less than what is owed onRead more
- Home sales slip in February after gains in months prior
- Individual, business rates of withholding tax in Maryland
- Cost effective home staging tips
- Tips to improve chances in challenging sellers' market
- Consumers protected from misconduct with Guaranty
- Real estate year-end observations
- Record-setting low interest rates benefit home buyers
- Water quality test important for homes with private wells
- Home smoke alarm requirements
- Lenders seek verification of cash deposits in accounts
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