We are all familiar with appraisals being needed to certify the value of a property sale is adequate for the amount of money being loaned to a buyer, but there is a new method lenders are using to help ...

Realtor.com released its 2024 Housing Market Forecast and Predictions report recently and the headline was: “Housing Affordability Finally Begins to Turnaround.”Synopsis of the data was as follows:As ...

In a recent news release, Gov. Wes Moore announced the UPLIFT (Utilizing Progressive Lending Investments to Finance Transformation) program to increase homeownership opportunities, one of the most powerful ...

According to the U.S. Census Bureau’s latest news release, privately owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1.487 million. This is 1.1 ...

Agency discussions can be a little confusing to the consumer with listing agents, subagents, dual agency and buyer agency. But if you are a buyer, understanding the buyer’s agent role is key.A buyer’s ...

Last week brought about two welcome events for real estate homebuyers and sellers— the fed kept the federal funds rate flat, and the 30-year fixed mortgage interest rate had a minor reduction.The housing ...

On a weekly basis, Bright MLS, the regional multiple list service that our area subscribes to, offers insights and market statistics on various aspects of the real estate industry. This week’s report ...

With the sharp rise in interest rates, the assumable loan is coming back on the real estate scene. An assumable mortgage allows a buyer to purchase a home by taking over, or assuming, the seller’s mortgage ...

In October of last year, the Maryland REALTORS® made changes to how property inspections are handled within the state contract of sale. The new process calls for property inspections to either ...

Maryland REALTORS® released their monthly info from the Housing Statistic report, see the details of the news release below. The number of home sales in Maryland continued to decline in the July ...

In 2023, the Maryland State Legislature convened on January 11th and adjourned 90 days later on April 10th. Maryland REALTORS® issues a report each year on the Maryland Legislative ...

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 ...

The Maryland Department of Natural Resources (DNR) offers a Forest Conservation and Management program and there are approximately 1,300 agreements in effect covering approximately 84,000 ...

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 ...

The National Association of REALTORS®’ released their annual Member Profile report for 2022 recently. Based on a random sampling of NAR's membership, the Member Profile strives ...

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, ...

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 ...

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 ...

Local zoning laws affect how a property can be utilized, and therefore, affect a property’s value. When purchasing a property, it’s important to understand the zoning classification so you can research ...

Most buyers know they need to save for both a down payment and closing cost money. Buyers also need to pay down their debt to be sure their debt-to-income ratios are under the various thresholds for USDA, ...

Buyers usually pay most of the closing costs associated with a purchase, of which, transfer and recordation taxes are one piece of the total closing costs. Customary in the state of Maryland is a split ...

Purchasing a condominium differs from buying a single-family home in more ways than the obvious. Of course, condo ownership offers buyers the convenience of maintenance free living—but when looking into ...

June, 2021 was proclaimed National Homeownership Month by President Joe Biden. The White House issued a news release statement from President Biden stating, “We also know that people of color continue ...

Last week, we discussed the current sellers’ market and how it is difficult to get offers accepted when facing multiple offer situations. The article last week detailed using appraisal waivers, but additional ...

Buyers are looking for ways to strengthen their offer in this competitive seller’s market. One tactic that carries a lot of weight with sellers is waiving your appraisal contingency. But not every ...

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 ...

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 ...

Lack of inventory, rising prices, multiple offers on new listings—all confirmation that we are indeed in a sellers’ market. Finding a home in today’s market is challenging for buyers, but there are ways ...

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 ...

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 ...

When it comes to restrictions that local governments impose on property, there are avenues such as a variance or a special exception that owners can pursue to request changes, but the two are very different.A ...

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 ...

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 ...

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 ...

Homeowners in the state of Maryland should be aware that as of Jan. 1, 2018, there were new residential smoke alarm requirements put into place, as per a bill passed by the Maryland General Assembly in ...

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 ...

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 ...

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 ...

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 ...

Are 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 ...

With low inventory in our market, and a high buyer demand, we are experiencing many multiple-offer situations on properties.It’s important to pay attention to contract details to be sure that verbal agreements ...

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 ...

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 ...

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 sell if you have been considering ...

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 ...

The National Association of Realtors® sent out a press release last week commending the Department of Housing and Urban Development for finalizingnew Federal Housing Administration condominium loan policies. ...

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 clauses that ...

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 PropertyArticle, Annotated Code of Maryland provides that, ...

The 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 CumulativeDays on Market (CDOM). The DOM provides a look ...

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 forthe fifth month in a row, while median prices increased ...

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 importantto know what it is they are ...

 Most people want to own their own home—it gives a sense of security and stability. It also allows for more flexibility in personalizing and renovatingyour home to make it your own. Most importantly, ...

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. ...

Real Estate Article:Maryland REALTORS recently released a brief report on 2018 Maryland legislation key issues affecting the real estate industry. REALTORS throughoutthe state provide advocacy and participation ...

Real Estate Report: Homebuyers may be eligible to receive up to $5000.00 in closing cost assistance through Bank of America’s Home Grant program. These funds can be usedto help with nonrecurring closing ...

Real Estate Report: CMA vs. AppraisalTo clear up any confusion, there is a definite difference between a Comparative Market Analysis (CMA) and an appraisal. Basically, they are two differentlevels of ...

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 Assemblyin 2013. Maryland REALTORS® ...

The Maryland Realtors® released their 2018 Legislative Priorities list for Realtors throughout the state to be aware ofthe key legislation being considered that will affect the real estate industry. Here ...

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 ...

An important affordable loan product for the Ocean Pines area is in jeopardy—the 100% financing USDA loan. The U.S. Department of AgricultureRural Development Maryland/Delaware State Office has ...

There is a Federal Housing Administration program that allows for the financing of a mobile home. It is called the Title I program, and it allows FHAapproved lenders to make loans from their own funds ...

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 thesame thing as closing costs. Down payments are ...

 Many homebuyers focus on a max purchase price when searching for a new home. This number is usually based on how much a lender has told them they are approvedfor and/or a total monthly payment that ...

Contingencies Provide Buyers an Important Check and BalancePurchasing 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 ...

In the 2016 session of the Maryland General Assembly, legislation under House Bill 1192 was passed that alters the contents of required disclosures, authorizesadditional fees, and sets limits on the fees ...

Most real estate agents are Realtors®, which means they are members of the National Association of Realtors (NAR). By belonging to NAR, all memberRealtors are bound by NAR’s Code of Ethics. But beyond ...

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 ...

The National Association of Realtors (NAR) conducted a survey that shows real estate like-kind exchanges are an important vehicle for disposing of andacquiring properties and support the nation's financial ...

The Maryland Association of Realtors (MAR) makes great efforts in legislative advocacy at the state level, with a focus on supporting and developing legislationthat helps the real estate industry and ...

The U.S. House and Senate approved a package of tax extensions that include an important provision that helps distressed homeowners through extending theMortgage Forgiveness Tax Relief Act for all of ...

CoreLogic, a data and analytics company, recently released its National Foreclosure Report with data through August 2014—and it shows foreclosureinventory is down. The report states that 45,000 ...

Have you ever wondered what qualifications your Realtor encompasses? To be a licensed Realtor, there is a detailed list of requirements, not only to obtain your license initially, but also to maintain ...

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 ...

So you want to buy a home, but don’t know where to begin. Many prospective homebuyers call an agent to see a property before figuring out what they reallywant in a home and also before the other crucial ...

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: FHA Introduces Changes to Help Strengthen Its Financial Health.In a recent Housing of Urban Development (HUD) news release, a series of changes were announced that will allow the agency ...

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 ...

Real Estate Report: Real Estate Rebound Buyers There is a contingency of buyers referred to as "rebound buyers" or "boomerang buyers"--these are the people who lost homes in foreclosures or short salesduring ...

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 ...

2nd Quarter Worc. County Housing Statistics.The MD Association of Realtors released their housing statistics for the 2nd quarter of 2012 and the numbers show some mixed blessings for Worcester County.The ...

Changes Affecting Home Buyers and Sellers: Various legislative changes and industry modifications are made throughout the year that can affect both homebuyers and sellers. Here are two of the moresignificant ...

$20 billion in relief for homeowners The federal government and 49 state attorneys general have settled a lawsuit for $25 billion against the country's five biggest banks for foreclosureprocessing and ...

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 ...

Distressed properties—meaning foreclosures, bank-owned (REO) and short sales, where the property is being sold for less than the mortgage due—areundeniably playing a role in keeping our housing ...