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Warranties Protect Owners of New Maryland Homes

A recent Baltimore Sun article discussed the perils faced by new home buyers and the coverage afforded by Maryland’s applicable law:

“Your home is your castle — but even a palace would be unpleasant if it’s drafty, leaky or crumbling.

Under state law, new homes built in Maryland are protected by a one-year [...]

June 26th, 2010 | Tags: , , | Category: Ocean City MD Real Estate, Real Estate - National News | Leave a comment

Sales of U.S. New Houses Plunge to Lowest Level on Record

Bloomberg is reporting today what most in the real estate business have already noticed, perhaps more so than we even imagined possible:

“Purchases of U.S. new homes fell in May to the lowest level on record after a tax credit expired, showing the market remains dependent on government support.

Sales collapsed an unprecedented [...]

June 23rd, 2010 | Tags: , | Category: Real Estate - National News | Leave a comment

The Foreclosure Spiral: The Next Housing Crisis

Mike Whitney has penned another excellent article this week about the next leg down in the national housing market we are about to face very shortly:

“Did the Federal Reserve collude with the big banks to hold millions of houses off the market until the Fed finished adding $1.25 trillion to the banks reserves?  [...]

June 19th, 2010 | Tags: , , , | Category: Real Estate - National News | Leave a comment

Maryland Eastern Shore Housing Market Still Lags

The Daily Times had an article today about the our local Worcester County, Ocean City Maryland area real estate market:

“The Lower Shore real estate market, plagued by an oversupply of homes and condos for sale, is recovering slower than other markets nationwide.

“I want to be able to say something good about [...]

June 13th, 2010 | Tags: , , , , | Category: Ocean City MD Real Estate | Leave a comment

Mortgage Loan Activity Dropping… Again

On Wednesday, the Mortgage Bankers Association (MBA) released its “Weekly Mortgage Applications Survey” for the week ending June 4th.  Not good news at all:

“The Market Composite Index, a measure of mortgage loan application volume, decreased 12.2 percent on a seasonally adjusted basis from one week earlier. This week’s results include an adjustment to [...]

June 11th, 2010 | Tags: , | Category: Real Estate - National News | Leave a comment

Inviting Attorneys Into The Homebuying Process

The Baltimore Sun had a good interview today with Diane Cipollone, Maryland Mortgage Fraud Prevention Project manager of the nonprofit law firm Civil Justice Inc. Ms. Cippolone has routinely worked with homeowners in danger of foreclosure and has a novel idea: many home owners and borrowers could have avoided trouble by consulting with an [...]

June 5th, 2010 | Tags: , , , | Category: Ocean City MD Real Estate | Leave a comment