Real Estate
APRIL 2018
THE COASTAL REAL ESTATE RESOURCE Coastal Association of Realtors/Ocean City Today
Monoxide law not for all rentals Only units with fuel-burning equipment must comply
The Coastal Association of Realtors selected two finalists in this year’s Fair Housing Art Contest. Pictured, from left, are Worcester Prep Head of Lower School Laura Holme, fifth grader Maxi Ruggerio, CAR Board Member Austin Whitehead, third grader Isha Garg and art teacher Rebecca Tittermary.
Art contest finalists selected Pair will vie for recognition in statewide competition and ‘Fair Housing Brochure’
Lower Eastern Shore, Md. – The Coastal Association of Realtors (CAR) has chosen two finalists in this year’s Fair Housing Art Contest, Isha Garg, third grade, Worcester Preparatory School and Maxi Ruggerio, fifth grade, Worcester Preparatory School Each finalist received a framed copy of their submission and a Visa gift card, compliments of CAR. The two finalists have been forwarded to the Maryland Realtors.
Only one will be chosen for inclusion in the statewide 2019 Fair Housing Brochure. That winner will also be invited to Annapolis for a special recognition ceremony with the governor or other state official. “We think this contest is one of the most important projects that we do each year,” said CAR President Joel Maher. “It’s an important educational tool to help local teachers raise awareness on this important issue. It’s also great to recognize these students for their creativity and artistic abilities. ”The annual contest is sponsored See REALTORS page 2
Effects of dwindling inventory experienced in area’s market Home values increase but supply continues to drop in lower shore marketplace
Lower Eastern Shore, Md. – The Coastal Association of Realtors (CAR) released its 2017 local housing reports for the three counties and their municipalities at the association’s Media Breakfast on Thursday, March 15. According to CAR, Realtors in the Tri-County area sold 3,795 homes worth a total of $873.4 million
throughout 2017. The average sale price of a home was $230,161. When compared to five years ago, inventory decreased by 6.2 percent, new contracts increased by 39.7 percent, home sales increased by 41.5 percent, and home values increased by 2.9 percent. “Overall, the Lower Shore’s real estate market is doing very well,” said CAR President Joel Maher. “In many areas, we’re seeing 2017 numbers that
See REAL page 5
Lower Eastern Shore, Md. – The deadline for installation of carbon monoxide (CO) alarms in some rental properties is April 1, and the Coastal Association of Realtors (CAR) is reminding the public that alarms are only required in properties that contain a carbon monoxide source. In 2016, the Maryland General Assembly passed House Bill 849 and its companion Senate Bill 182. These bills require the installation of carbon monoxide alarms for any new and existing rental units that contain any fuel burning equipment or wood burning appliance, or has an enclosed attached garage. They are not required in rental dwelling units that are powered solely See CARBON page 2