News & Media

Archive: June `16
Local REALTORS® applaud eased FAA drone regulations
June 27, 2016
Lower Eastern Shore, Md. – Eased regulations announced last week by the Federal Aviation Administration (FAA) are expected to open the door for expanded Unmanned Aerial System (UAS), or drone, use in the local real estate industry.
 
Drones are useful in a number of real estate-related applications, including marketing properties, assisting with appraisals, facilitating insurance claims, and overseeing utility work. However strict regulations have historically hindered commercial use of drones. The new rules announced last week should allow for more real estate and other professionals to use drones for commercial purposes.
 
  • Commercial drone operators are no longer required to hold a pilot’s license. However, they must still obtain new certification for ‘remote pilot in command’ authority, which is less burdensome then a pilot’s license. The test is administered at FAA...
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May housing data reflects ideal time to buy
June 3, 2016
Lower Eastern Shore, Md. – For the third consecutive month, contracts, or pending sales, are up on the Lower Eastern Shore, according to the latest figures from the Coastal Association of REALTORS® (CAR).
 
May 2016 showed an overall 16.8 percent increase in contracts in Somerset, Wicomico, and Worcester counties, compared to the same time last year. Individually, contracts for single family home sales increased by 27.5 percent in Worcester County, by 9.1 percent in Wicomico County, and remained steady in Somerset County.
 
Settlements were down by nine percent in May, compared to the same time last year. Inventory was down by eight percent and listing and sales prices were down by 4 percent and 2.6 percent, respectively.
 
Overall, days-on-market increased by 2.5 percent. However, days-on-market for Worcester County’s single family homes and condominiums decreased by 18.6...
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