Page 14 - December 2021 Issue.indd

Those of you who are regular readers will In addition, the contract puts in writing Remember that a house’s value is relative
recall that appraisals done for the purpose the value of the property as determined to others in the area and demand will be
of a mortgage are not determining value as by the buyer and seller which is the the driving force in determining what
much as they are justifying it. Appraisers agreed upon price in the contract and you will ultimately pay for a home.
are given a copy of the contract for their assumes the agreement is at “arm’s length” And only you can determine what you
review to indicate whether the seller is where the parties to the transaction are consider the value of the home to be.
providing any concessions to induce the not in some way related. Some may pay more, some may pay less,
buyer to move forward. Most prevalent and some may not be interested at all.
Current housing data supports a
will be seller paying buyer closing costs.
continuance of price increases. None In a free-market economy such as ours,
Also, the beach area properties are oft en
are showing prices going down. Supply sales of products and commodities will
sold with furnishings, which are not
is still limited in relation to demand with occur any time there is a meeting of

part of the real estate. They are personal
no change in this dynamic for at least the the minds and agreement on all terms

property which can influence the value
next six to nine months. and conditions is accomplished. In real
of the actual real estate.
estate this is when a contract is signed
by all parties and considered ratified.
If there are more buyers’ minds than
sellers’ minds, prices will continue to
move upward.
I wish all of you a very Blessed and Merry
Christmas and Happy and Healthy New
Because you deserve qqualified, llocal representation
Year!
when managing life’s important issues.
Thanks for reading.

? ESTATE PLANNING Mr. Rowe is Vice President/Lending for
? RESIDENTIAL & COMMERCIAL 300 Market Street Bay Capital Mortgage Corp. with offi ces
Suite 104
REAL ESTATE AND SETTLEMENTS Denton, Maryland in Easton and Annapolis. He has lived in
? LLC FORMATION & BUSINESS LAW 21629 Caroline for his entire life and supports
the county by volunteering in a variety of
? MUNICIPAL & ENVIRONMENTAL LAW ways. He currently lives near Greensboro
? GENERAL LEGAL COUNSEL 410.310.1774 with his wife Jeanne and daughter Kelsey.
Our attorney, Patrick Thomas, and our Settlement shayman@mlg-lawyers.com
Agent, Sandy Hayman, are available to travel to your www.mlg-lawyers.com
preferred location.

With appreciation at the holidays, we Thank You

for your support and wish you a very Merry Christmas

A nita’s Hair House

& T ips & Toes by Kelly

Gift Certificates Available Hair Care & Nails
Open Tues.-Sat.

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16470 Henderson Rd., Henderson, MD 410-482-7244

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