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 ...
Read moreLauren's Blog
Recap of real estate laws from '21 session
As a conclusion to the previous week’s articles, below is a final reporting of the MD State Legislature, which convened on January 13thand adjourned on April 12th. Maryland REALTORS®' issues ...
Read moreReal estate industry affected by legislation
As a continuation to last week’s article, the Maryland State Legislature convened on January 13thand adjourned on April 12th. Maryland REALTORS®' issues a report each year on the Maryland ...
Read moreReal estate industry secures several wins in Md. Assembly
In 2021, the Maryland State Legislature convened on January 13th and adjourned on April 12th. Maryland REALTORS®' issues a report each year on the Maryland Legislative session ...
Read moreHome Builders Association reports lumber prices rising
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. This ...
Read moreOptions exist for homebuyer looking to waive inspections
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 ...
Read moreWaiving appraisal effective strategy for select buyers
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 ...
Read moreBuyer 'Love Letters' can be deceptive, according to NAR
In this sellers’ market, one tactic used by buyers is the “buyer love letter”. This is when a buyer will write a personal note/letter in an attempt to stand out to a seller, especially in hot ...
Read moreMaryland SmartBuy 3.0 program discussed
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 ...
Read moreRecordation taxes, transfer fees
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 ...
Read moreHome sales slip in February after gains in months prior
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 ...
Read moreHome buyers should assure septic systems get tested
If a home doesn’t operate off of a public sewer facility, then a private in-ground wastewater treatment system is used to treat and dispose of household wastewater on-site. In Maryland, approximately ...
Read moreLead inspection required in Md. since 2015
Since 2015, the state of Maryland has made it mandatory for all properties built prior to 1978 to have a new lead inspection certificate at each change of occupancy. Here is a reminder of some of the ...
Read moreIndividual, business rates of withholding tax in Maryland
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 ...
Read moreWorcester County following Md. Forest Conservation Act
The Worcester County Forest Conservation Law was enacted under the Maryland Forest Conservation Act of 1991, requiring all county governments to adopt local forest conservation programs. The purpose of ...
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