Legislative

Tell Congress to Reauthorize the National Flood Insurance Program

Floods can happen in every state. The only way that a homeowner can acquire a mortgage in over 21,000 communities is through this federal program. We must flood Congress with our letters of support. So please, take action to urge Congress to reauthorize the National Flood Insurance Program today.

Maryland Recording Fee Increased by $20

This year during the Maryland General Assembly session, there were several tax increases included in House Bill (HB) 72, the Maryland Budget Reconciliation Act. Fortunately, both the House of Delegates and Senate avoided significant tax increases including significant tax increases on real estate. However, the legislation did include some fee increases including an increase in the real estate recording fee. The current recording fee is $20 per recordable instrument. HB 72, which was signed by Governor O’Malley, will increase the fee from $20 to $40 for each recordable document for four years (2012-2016). This will go into effect on July 1, 2011 through July 1, 2015. Form 1336, Buyers Estimated Costs Worksheet has been changed to reflect this increase.

Montgomery County Residential Rental Properties Must Be Licensed

Montgomery County law requires residential rental properties to be licensed. Property owners who do not comply can be subject to a $500 fine. Read more.

Politico Recognizes REALTORS® as Major Players in 2010 Midterm Elections

Politico, an influential political publication, has recognized the REALTOR® Party as a major player in campaign fundraising. It lauds the REALTOR® Party as becoming the model for sector-based business groups standing behind issues, not individual parties, in elections. Read the full article here.

DC $5,000 Homebuyer Tax Credit Extended Two Years

The Office of Congresswoman Eleanor Holmes Norton has announced a two-year extension of Norton's $5,000 homebuyer tax credit, and business incentives, including a $3,000 wage credit for each D.C. resident hired by, or already employed at, many D.C. businesses. The incentives will be retroactive for 2010 and will continue through 2011. Read more.