Real Estate Report from 2015 General Assembly
The Maryland General Assembly adjourned sine die on April 13th. For a quick summary of some key real estate issues, click below.
FHA Slashing Mortgage Insurance Premiums by $900 a Year
According to Inman News, after raising them six times during the housing bust, the Obama administration is reversing course and rolling back mortgage insurance premiums charged by the Federal Housing Administration by
enough to save homeowners an average of $900 a year.
New Legislative Districts/Reps for the Upcoming Session
Do you know who your Maryland General Assembly legislators are for 2015?
Help us help you advocate about REALTOR issues for the upcoming General Session by being an informed REALTOR advocate.
Realtors® Applaud Final Passage of Legislation to Extend Key Real Estate Tax Provisions
National Association of Realtors® President Chris Polychron stated today (12/17/14), "The package of tax extensions approved by the U.S. House and Senate late last night, and headed to the President’s desk for signature, includes important provisions that will help distressed homeowners and commercial property investors with transactions made during 2014."
Senate Fails to Reauthorize TRIA
"The U.S. Senate’s alarming failure to renew the federal terrorism risk insurance program before adjournment will stall commercial real estate development around the country," according to NAR President Chris Polychron.
Lead Paint Law Changes Taking Effect in January
Are you a property manager or owner of pre-1978 residential rental units? Click below to read the Frequently Asked Question (FAQ) document regarding the new lead paint law changes taking effect January 1, 2015.
USDA Update Response to Rural Lending Delays
See updated, official response from USDA to 2014 MAR President Russ Boyce
per Senator Mikulski's outreach. In USDA's response letter, dated September 24th, Administrator Hernandez states, "To mitigate processing time delay in Maryland, additional staff is temporarily assigned to assist with this effort."
New Regulation for Recommended Service Providers Effective August 18th
- The new regulation regarding real estate licensee "service recommendations" is now final and will take effect August 18, 2014. If you choose to recommend service providers, the Real Estate Commission has indicated that it is reasonable for you to verify license status of contractors at least once a year.
A Must-HAVE for Successful REALTORS® on the Go
Engaged REALTORS® are naturally on the go and so should be your advocacy tools. Now they are! Simply text APP
to receive the download link for the REALTOR® Action Center mobile app, empowering you to take action on an important REALTOR® issue from anywhere, anytime. Once downloaded, login to
FEMA Flood Rate Relief Effective May 1
Effective May 1, 2014, all
buyers of older properties (“pre-FIRM”) will see a premium rate reduction
under the Homeowner Flood Insurance Affordability Act of 2014.