The new legislation is about half of the original amount proposed.
If you are buying or selling a home in Howard County, it’s going to cost you more. The Howard County Council passed County Resolution 84, a bill that changes the property tax transfer cost from 1 percent to 1.25 percent. Another bill, CR85 which would have raised recordation taxes did not pass.
Property transfer taxes are paid when property is sold to another party and in certain circumstances when a homeowner refinances their home. The Howard County Association of Realtors estimates it will raise the cost of an average real estate transaction by $1000. The new tax rate will apply to transaction that occur as of Jul. 1, 2020.
Inventory is down but the average sales price is up.
December was a busy month in Maryland for home sales. The number of units sold rose by 12.6 percent compared to the same time last year. The average price was also higher.
“The average sales price increased from $331,681 to $349,629 and the median price increased from $287,000 to $300,000,” said Maryland REALTORS® President John A. Harrison. “Months of inventory dropped to a low of 2.2 months, compared to 3.7 last year. December was an unusually busy month for settlements, defying the typical fall and early winter slowdown.”
Brisk sales were pushed by a dip in interest rates, but just like many areas of the U.S., buyers faced a shortage of inventory available for purchase. In Maryland, inventory in Maryland was 16, 239 versus 25,511 in December of 2018.
According to data released by the National Association of Realtors, the U.S. is short 3.8 million homes. Even though 5.9 million single-family homes were built between 2012 and 2019, it isn’t enough to offset the 9.8 million new households formed.
“Simply put, new home starts are not keeping pace with demand. Homebuilders have a mountain of opportunity, but a big hill to climb,” said Javier Vivas, director of economic research, realtor.com®. “The current inventory crisis and the need for 3.8 million new homes means a nearly insatiable appetite from potential buyers, especially in the lower end of the market.”
Clark’s Elioak Farm has been a favorite fall destination for many years. This Ellicott City farm has it all, a farmer’s market, petting farm and the Enchanted Forest Village. In the weeks leading up to October, you can visit the pumpkin patch, take a hayride and jump on the Enchanted Express train. Admission to the farm is $7 on weekdays and $8 on the weekends. Individual rides range from $2 to $4.
Triadelphia Lake View Tree Farm
15155 Triadelphia Mill Rd.
Glenelg, MD tlvtreefarm.com
TLV has pick-your-own pumpkin patches, a corn maze and other fun activities. Mini pumpkins are $1 each, pie pumpkins are $3 and large pumpkins are 59 cents a pound. Admission is $8 and includes a hayride to the pumpkin patch. TLV is open on the weekends through October.
Butler’s Orchard has weekday and weekend fall festival activities or you can come into the Farm Market and buy a pumpkin starting at 69 cents a pound. Pumpkin Harvest Days are held during the week and include a self-guided tour of the farm, small pumpkin and take-home activity sheet for $.7.50. On the weekends come for the hayrides, corn maze, carnival activities (Pumpkin Cannon) and yummy festival food. Admission is $12.
This Montgomery County farm has pumpkins for sale in their market or you can pick your own. The farm is also famous for fresh-pressed apple cider that is made on site. Heyser also bakes pies, cookies and bread. Monday all pies all 50 percent off!
Queen Anne Farm isn’t close to Howard County, but it is one of the most unique pumpkin patches in the state. The farm carries more than eleven varieties of regular and heirloom pumpkins. It has a fairytale-worthy pumpkin house and a variety of straw animal sculptures. Plus, if you hate carving pumpkins they sell pre-cleaned pumpkins the day before Halloween!
Maple Lawn is a master-planned community in Fulton about seven miles from Columbia Maryland. The community features a mix of single-family homes, condos and townhomes and has a pedestrian-friendly atmosphere.
Maple Lawn has more than 1,300 homes, four parks, a community center with a pool, gym, basketball and tennis courts. The live-work atmosphere boasts walking distance to stores, restaurants including Harris Teeter, Steelfire Grill, Hudson’s Coastal, Looney’s Maple Lawn, McDonald’s, Chipotle and more.
Located halfway between Baltimore and D.C., Maple Lawn has become a popular destination for commuters to both markets. Homes range in size from 1600 to 8000 square feet and start in the high 300s. Currently, there are no new construction homes being built in Maple Lawn proper. Maple Lawn South has new construction opportunities and new lots will be added to Maple Lawn in the future. To get a list of current and future listings for sale in Maple Lawn you can text me at (702) 340-8000 or click here.
The new program allows members of the military and their families to get cashback when they buy or sell a home. The program called Realogy Military Rewards is facilitated by Cartus and utilizes agents in the Realogy portfolio, including Century 21 New Millennium. Customers can sign up through a Realogy broker or through the Cartus system and get anywhere from $350 to $7,500 in cashback after closing.
“Realogy has a long history of supporting our servicemen and servicewomen during one of life’s most special and critical milestones: buying or selling a home,” said Ryan Schneider, Realogy’s chief executive officer and president. “The new Realogy Military Rewards program extends our support to the entire U.S. military community and their families by providing a real estate agent experienced with military moves, an advocate to offer support along the way, and substantial cash back upon closing.”
For more information or to sign up, email or call me at 702-340-8000.
* The cash back bonus is offered in most states. In some states, a gift card or commission reduction at closing may be provided in lieu of the cash back bonus. The program is not available for employer-sponsored relocations or transactions in Iowa or outside the United States. The cash back bonus is not available in Alaska, Louisiana and Oklahoma. In Kansas and Tennessee, a MasterCard MAX gift card will be issued. In Mississippi, New Jersey, and Oregon, a commission reduction may be available at closing. The cash back bonus is only available with the purchase and/or sale of your home through the use of a program-introduced real estate agent. The actual amount you receive is based on the purchase and/or sale price of your home. All real estate commissions are negotiable. Other terms and conditions may apply. This is not a solicitation if you are already represented by a real estate broker. Please check with a program coordinator for details. Program terms and conditions are subject to change at any time without notice. Additional terms, conditions, and restrictions apply.