Category: Uncategorized
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Montgomery County’s rent stabilization law now in effect
In Montgomery County, Maryland, a new rent stabilization law limits rent increases to 6% or the rate of inflation plus 3%, with exceptions for newly-constructed units. The law aims to protect renters from large increases, requiring approval for raises in troubled buildings. Landlords can request higher increases for maintenance or renovations. The regulations were approved…
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Home Values in Top Suburbs Near DC
In Rockville, MD, the median home value is $500K, and the median household income is $122K. In Arlington, VA, the median home value is $752K, and the median household income is $137K.
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First-time homebuyer loans: Best options and how to qualify
Fox Money, a personal finance hub by Credible Operations, Inc., offers content independently from Fox News Media. First-time homebuyers face challenges like saving for a down payment and navigating the buying process. Various first-time homebuyer loans are available, including FHA, VA, USDA, conventional, FHA 203(k) renovation loans, and region-specific options. Qualifications typically include a minimum…
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What Is a No-Closing-Cost Refinance?
A no-closing-cost refinance allows homeowners to refinance without upfront fees by increasing interest rates or adding costs to the loan principal, potentially leading to higher long-term expenses. Closing costs, which typically range from 2% to 6% of the loan amount, include underwriting, appraisal, credit report, and title search fees. This refinancing option offers benefits such…
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Southern Maryland Housing Market Heats up for Summer
Active listings ↑ 9.39% and new listings ↑ 10.48% yearly. – Home sales: ↑ 13% yearly – Avg DOM: ↓ 6 days to 19
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Southern Maryland Housing Heats up for Summer
Southern Maryland's housing market shows growth, with active listings increasing by 9.39% and new listings by 10.48%.Home sales surged, with units sold up by almost 13% and new pending transactions increasing by 6.84%.
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Avoid Hidden Costs: Checks Before Signing Your Mortgage
Review the contract carefully to ensure you are getting the agreed-upon interest rate and understand any lender fees. Be aware of your prepayment privilege and any prepayment penalties associated with paying off your mortgage early.
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28.4% of Maryland Households Rent Homes
MD's rental vacancy rate is above the US avg. 28.4% of households in MD rely on the rental market.
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Mid-Q2 Home Sales Fall to 6K Units in Maryland
Maryland home sales ↓3.4% to 6,627 units in Mid-Q2 2024. Avg sales price in Maryland ↑6% to $514K.
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Southern Maryland Housing Market Bounces Back
Despite a challenging economic environment, the Southern Maryland housing market is showing positive signs. While total units sold ↓ 2% yearly, active listings ↑ 10.21% and new listings ↑ 18.59% yearly.