Most all buyers in Maryland will look to protect themselves with some inspection contingency to allow them to walk away from the deal if the inspection turns up trouble. In Maryland, the two main methods to handle this are through the Property Inspections Addendum or the As Is Addendum. The basic concept of the Property …
2020 will be remembered for a number of things… but the story in Real Estate is all about plummeting housing inventory. Even before the COVID-19 pandemic disrupted everything, 2020 started with strong conditions favoring Sellers. However, as unprecedented uncertainty around our health, economy, social structure, and political environment rocked our nation, many potential Sellers froze …
For nearly every single residential contract for sale*, the Maryland Code requires that the seller to furnish, EITHER: a Residential Property Disclosure Statement, OR a Residential Property Disclaimer Statement. Confusingly, the form provided by the Maryland Real Estate Commission combines both of these statements into one document. As a result, Sellers routinely make mistakes and …
The average rate for a 30-year fixed mortgage has hit an all-time low, now at 2.71 percent. This, based on data released from Freddie Mac, represents the 14th time this year that this average has hit historic lows. So, how can you take advantage of this historic opportunity? Does this mean it’s a great time …
Mortgage Rates fall to record low in December – but still a crappy time to buy Read More »
The Inspection Contingency is by far the scariest, most confusing and frustrating part of any contract for sale. Section 12 of the Maryland Residential Contract for Sale provides that a buyer shall be afforded the opportunity, at Buyer’s sole cost and expense, to condition Buyer’s purchase of the property upon a Home Inspection in order …
September numbers are in, and the Maryland housing market continues to be red-hot. Housing inventory remains incredibly low, while buyers continue to snatch up properties quickly. State-wide: The number of properties on the market has dropped 40% compared with last September. Meanwhile, those properties are going like hot cakes – with the numbers of closings …
In this environment of economic uncertainty, is now the time to swoop in and get a house for super cheap?? Not so fast. When COVID-19 reached pandemic status, there was initially a significant drop in buyer demand. Take a look at the graph charting changes year-over-year for Zillow page views. Throughout the month of March, …