On August 1, 2018, a new law takes effect requiring all Baltimore City rental properties, including one- and two-family and multi-family dwellings, to be licensed to operate as a rental by January 1, 2019. 

Residential home prices rose in July compared to the same period of 2017, according to Maryland REALTORS.  Average home prices rose by 2.3 percent for the sixth month in a row, while median prices experienced a slight drop as compared to the same time in 2017 down 1.4 percent.

The Internal Revenue Service issued proposed regulations for a new provision allowing many owners of sole proprietorships, partnerships, trusts and S corporations to deduct 20 percent of their qualified business income. The new qualified business income deduction is available for tax years beginning after Dec. 31, 2017. Taxpayers can claim it for the first time on the 2018 federal income tax return they file next year.

2018 Professional Standards Webinar! Watch Now

In effort to make this information accessible at all times, Maryland REALTORS® made a webinar for the Professional Standards Training. This video is a resource for all associations. We are building a video library as we recognize that all associations do not receive Professional Standards cases regularly and may need to reference this material at any time.

UPDATE!  The U.S. Senate just passed an extension of the National Flood Insurance Program and the NAR CFA is now closed.  Congratulations Marylanders for achieving and over 22% response rate!  Many thanks to all who took action -- your efforts helped ensure that the National Flood Insurance Program (NFIP) did not lapse. Congress received over 422,000 emails (House and Senate messages) in support of extending NFIP and that effort paid off!  The bill, which cleared the House last week, is expected to be signed into law shortly (before tonight’s midnight deadline).  More details to follow soon.