For Sellers
What Is A SFR? And What Does It Mean To You As A Property Buyer Or Seller?
February 13, 2010 by Monica McNamara · Leave a Comment
We are pleased to announce that Kevin (my husband, best friend and co-worker) has earned the National Association of REALTORS newest certification for Short Sales and Foreclosures (SFR). As these type of properties become more and more a part of our marketplace, we felt it was imperative that we be able to deliver the highest [...]
Tip For Buyers And Sellers
January 25, 2010 by Monica McNamara · Leave a Comment
An Agreement of Sale to purchase real estate is a legal document and should be reviewed very carefully by all parties to the transaction. A buyer or seller that is unclear or does not understand all aspects of the Agreement, should most certainly speak with their REALTOR for clarification and explanations, and consult an attorney [...]
New RESPA Changes – What That Means To You
January 4, 2010 by Monica McNamara · Leave a Comment
HUD, (Housing and Urban Development), in an effort to improve disclosure of key loan terms and closing costs paid by the consumer when they buy or refinance a property, HUD has reformed the RESPA Rules.
Here is a summary of the final rule:
Good Faith Estimate – now it will be a three page document, including disclosure [...]
Is the Pendulum Swinging?
December 2, 2009 by Monica McNamara · Leave a Comment
According to the National Association of REALTORS (NAR), we have seen pending home sales rise for the ninth month in a row now. The Pending Home Sale Index is an indicator that looks forward based upon properties that were put under contract (or pending) the month previously. In this case it would be for October [...]
Where Are These Interest Rates Going – Ask The Experts
October 31, 2009 by Monica McNamara · Leave a Comment
Mortgage Rates Seen Below 6% Through 2010
Even as mortgage rates remain near record lows, the Mortgage Bankers Association believes that the looming expiration of a key Federal Reserve program may increase home loan costs next year. Still, the MBA expects rates to remain extremely attractive throughout 2010, helping to juice home sales and insert a [...]
Sold and Active Listings for Ocean City (Worcester County) October 2009
October 23, 2009 by Monica McNamara · Leave a Comment
Ocean City, Md. Statistics and Trends
October 5, 2009 by Monica McNamara · Leave a Comment
The median sales price for homes in Ocean City MD for Jul 09 to Sep 09 was $169,000. This represents a decline of 46.1%, or $144,750, compared to the prior quarter and a decrease of 41.7% compared to the prior year. Sales prices have depreciated 49.7% over the last 5 years in Ocean City.
The average [...]
What You Shouldn’t Do With A Lockbox
September 23, 2009 by Monica McNamara · 1 Comment
OK let’s begin with, (for those that don’t know) what is a lockbox? A lockbox is large gray or black metal box that hangs from the front door knob at the entry to a condo or townhome or single family home . Inside this lockbox is a key to the property. If you a [...]
So What About Those Interest Rates?
September 8, 2009 by Monica McNamara · Leave a Comment
Interest rates…everybody wants to know where they are headed. Here’s what’s coming out this week that will definitely have an impact.
The Fed’s Beige Book – officially known as the Survey on Current Economic Conditions will be reported on Wednesday. It shows info from banks, interviews with business contacts, economists, market experts, and other sources. The [...]
Why You Shouldn’t Buy The Most Expensive Condominium In The Building
August 31, 2009 by Monica McNamara · Leave a Comment
I have always believed that when buyers are considering making a purchase, that they should not buy the most expensive condominium or home in a given neighborhood or building.
Why you ask? Let’s say you fall in love with the best of the best in a particular area. It has everything you could possibly want. You [...]
