eastern shore: Caroline County, MD, Home Sales Numbers Way Down (Mid Year 2009)
- 07/11/09 03:31 AM
Now is a great time to buy a house, with inventory at an all time high, home prices way down, and excellent interest rates. Looking at home sale stats in Caroline County for the first six months of the past three years (January through June of each year) sales have declined consistently, from 158 in 2007, to 118 in 2008 (- 40), to 102 in 2009 (-56). That's a drop of over 35.4 % in sales in 2009 compared to the same six month period in 2007. … (1 comments)
eastern shore: Non-Resident Owners of Maryland Property - Transfer Tax (Withholding) Rate Increase
- 01/02/08 05:26 AM
Maryland increased its Non-Resident real property transfer "withholding" tax, effective January 1, 2008, from 6% to 6.75 % for individuals and from 7 % to 8.25 % for corporations. If you own real estate in Maryland but you are not a Maryland resident when you sell it you are subject to the withholding. In many cases you can recover the withholding. It will require filing a Maryland "Non Resident" tax return (Form 505) and Form MW506NRS. Go to http://business.marylandtaxes.com/taxinfo/withholding/sale_property.asp for full details.
Now is a great time to buy a house, with inventory at an all time high, home prices way down, and excellent interest rates. Looking at home sale stats in Caroline County for the first six months of the past three years (January through June of each year) sales have declined consistently, from 158 in 2007, to 118 in 2008 (- 40), to 102 in 2009 (-56). That's a drop of over 35.4 % in sales in 2009 compared to the same six month period in 2007.
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