News

Condos

msouth — Mon, 01 Dec 2025 14:13:48 +0000

December 1, 2025

A condominium can be a great option for an individual or couple looking for the square footage of an apartment with the benefits that come with home ownership. Below we define what a condominium is, what to consider before purchasing one, and the pros and cons associated with owning this type of property.

What is a Condominium?

A condominium, otherwise known as a condo, is a privately-owned unit within a larger residential building. In most cases, the owner individually owns the walls and the interior of the condo and jointly owns shared common areas such as pools, garages, and elevators. However, the larger building that houses the condo is owned by another individual or business. Most condo communities require residents to pay membership dues to a homeowners association (HOA) to cover the amenities offered.

Condos are similar to housing cooperatives (co-ops), but there is a notable difference that sets them apart. While condo owners individually own part of a building and its common areas, co-op residents own a share of the entire property. Also, unlike the owners of single-family homes and townhomes, condo owners do not hold a title to the land on which the building sits. As a result, the property value of the condo is based solely on the home itself.

Things to Consider Before Buying a Condo

Before finalizing the purchase of a condo, it is wise to visit the building several times. You will want to get an idea of whether the residents would make good neighbors and if the building is noisy or in need of repair. If you notice there are several units for sale at one time in a building that is not a new construction project, it could potentially be a red flag pointing to high levels of dissatisfaction among residents.

If you plan to purchase the condo as an investment property, there are a few other factors to consider as well. First, you should confirm the HOA allows for short-term and long-term rentals. This should never be assumed when purchasing a property, especially when there is an HOA involved. Additionally, research the town and surrounding neighborhoods to determine the levels of tourism and the growth potential of the area. If rental demand is expected to increase, it could be a sound investment.

Pros of Living in a Condo

Condo living can offer a significant number of benefits, especially for single individuals and couples who do not need the square footage offered by single-family homes and townhomes. Here are some of the advantages of living in a condo.

Low Maintenance – Most condo communities have an HOA that covers exterior maintenance such as landscaping, trash removal, snow removal, etc.
Affordability – Condos are typically smaller than single-family homes and townhomes and, as a result, are often more affordable.
Amenities – Condo communities commonly offer pools, barbecue areas, clubhouses, dog parks, and more for residents.
Security – Many communities hire security staff to make residents feel safe and to make it more difficult for non-residents to access the building.

Cons of Living in a Condo

While a condo may be a great fit for a single individual or a couple, they are often too small for families. Below are a few disadvantages to living in a condo.

Limited Space – Condos typically offer less square footage and less outdoor space than single-family homes and townhomes, which is not ideal for families with small children.
Less Privacy – Condos have shared walls and limited outdoor space, so it may be difficult to find privacy at times.
HOA Costs and Restrictions – HOA fees generally go up over time to cover the rising costs associated with maintenance and amenities, and they may be restrictive with their rules involving pets, parking, storage, and more.
Limited Customization – While you are free to customize the interior of your unit in most condo buildings, you lack the freedom to change most everything else.

There are several things to consider before making the decision to purchase a condo. Will the size of the indoor and outdoor space serve the needs of you and your family? Will you get along well with the other residents in the building? Is the building maintained properly? If the answer is yes to these questions, then a condo is likely a good fit for you.

Gift Card Scams

msouth — Mon, 01 Dec 2025 14:02:32 +0000

December 1, 2025

Making a payment by gift card is never a good idea. Scammers love gift cards because they can easily be purchased online and at many stores across the country, are virtually impossible to track, can be converted to cash or cryptocurrency, and offer a way to move large amounts of money in small packages.

There are a few key signs to watch for that will help you determine whether a payment request is a scam, including:

You are asked to purchase one or more gift cards, otherwise known as electronic vouchers, and to send payment quickly.
The scammer asks you to share the numbers on the back of a gift card.
The message comes from someone you do not know or someone you would not expect to request money this way, including a government organization, utility company, lottery company, family member, etc.

If you believe you have been the victim of gift card fraud, report the incident with the Federal Trade Commission at reportfraud.ftc.gov.

New Eastern Branch Now Open at 180 Eastern Blvd. N.

msouth — Mon, 24 Nov 2025 14:04:48 +0000

November 24, 2025

It is official! We have made the move to our new Eastern Blvd. Branch located at 180 Eastern Blvd. N.

Please visit us at our new location next door to the previous branch.

We look forward to providing our Eastern customers with even greater Absolutely Exceptional Experiences in the new office!

Eastern Blvd. Branch Relocation - New Branch to Open on 11/24

msouth — Wed, 19 Nov 2025 14:48:28 +0000

November 19, 2025

Move day is approaching!

We will be moving our Eastern Blvd. Branch in Hagerstown from its current location at 1101 Professional Court to its new location next door at 180 Eastern Blvd. N. on Saturday, November 22nd.

The Branch will be closed on Saturday, so we encourage customers to visit our Paramount Branch that day. The new location at 180 Eastern Blvd. N. will be open to customers starting on Monday, November 24th.

We look forward to providing our Eastern customers with even greater Absolutely Exceptional Experiences in the new location!

Townhomes

msouth — Mon, 03 Nov 2025 15:55:32 +0000

November 3, 2025

Deciding on the type of home you would like to live in is a key part of the buying process. If you will be renting or purchasing the property with a partner, be sure to sit down and thoroughly discuss what you both are looking for in a home. In the sections below, we define what a townhome is, what to consider before buying one, and the pros and cons associated with this property type.

What is a Townhome?

Townhomes typically have two or more floors and share at least one wall with adjacent properties. Most townhouses have bedrooms on the upper floors and a living room, dining room, and kitchen on the lower floors. These types of properties are commonly found in urban and suburban areas, but they are growing in popularity in rural areas due to a shift toward smaller homes nationwide. It is common for townhomes to be grouped together in rows within a neighborhood that is managed by a homeowners association (HOA). Residents typically pay a monthly HOA fee to cover the cost of landscaping, maintenance, trash removal, snow removal, and other amenities.

Things to Consider Before Buying a Townhome

There are several factors to consider when you are deciding on the type of home you want to purchase. Think about both short-term and long-term wants and needs, as these may change over time.

Location – Is the home located near the places you most commonly visit, such as the grocery store, restaurants, shopping centers, etc.?
Homeowners Association – If the neighborhood has an HOA fee, learn more about what it covers and determine if you can fit the cost in your budget.
Floor Plan – Does the size and layout suit your needs?
Amenities – Many HOA communities provide access to a pool, clubhouse, and/or gym. Will you use these amenities?
Future Plans – Consider whether or not the home fits in with your long-term plans, such as adopting a pet, starting a family, etc.
Noise Levels – Visit the townhome during both the day and night to get a feel for the noise levels. Keep in mind that you will have at least one wall that is attached to adjacent properties.
Parking – Will the home have a driveway, garage, a parking lot, street parking, or a combination of two or more options? Also, find out if there are any parking restrictions.

Pros of Living in a Townhome

Townhome living certainly has its benefits, especially for those who prefer multi-level homes. Here are some of the pros of living in a townhome.

Affordability – When compared to single-family homes that are similar in size, townhomes are almost always more affordable. This applies to both the cost of purchasing the home and the monthly energy costs, as the shared walls help insulate the home.
Amenities – Many HOA neighborhoods have pools, community centers, and/or gyms that are included with the monthly HOA fee. These amenities often have the positive impact of enhancing community and bringing residents closer together.
Minimal Maintenance – HOA fees typically cover the cost of landscaping, maintenance, trash removal, snow removal, and more. Townhomes generally require less upkeep than single-family homes even when there is not an HOA, as townhomes typically have smaller yards and driveways.

Cons of Living in a Townhome

Townhomes are not for everyone, as many of the same qualities that are viewed as benefits to some are seen as drawbacks to others. Here is a breakdown of the cons of living in a townhome.

Less Privacy – Shared walls and smaller yards allow for less privacy than single-family homes.
HOA Costs and Restrictions – An HOA fee is an additional expense to account for each month. HOAs can also be restrictive with their rules, which may limit some of the freedom you have to customize your home.

Vertical Layout – Townhomes are commonly two to three levels, which makes stairs unavoidable. If you prefer a rancher or one level home, a townhome is probably not for you.

Is a townhome the right fit for you? They are ideal for first-time homebuyers who are not quite ready to commit to a single-family home but want more space than an apartment or condo can offer. They are also beneficial to those who value community and want to get to know their neighbors better.

Charity Fraud Schemes

msouth — Mon, 03 Nov 2025 15:46:20 +0000

November 3, 2025

Charity fraud schemes are created by fake organizations hoping to appeal to donors who are looking to support charitable causes. These scams are especially prevalent after natural disasters, as bad actors seek to take advantage of those who want to help. Charity fraud comes in numerous forms, including emails, calls, text messages, social media posts, crowdfunding platforms, and more. In the case of natural disasters, fraud may also be committed by unethical or fake contractors looking to take advantage of victims and insurance companies.

How to Protect Yourself

Give only to established non-profits and organizations with a reputable track record.
Be watchful of fake charities with names similar to legitimate organizations.
Thoroughly research new organizations that claim to provide aid to disaster victims.
Do not donate by cash, gift card, virtual currency, or wire transfer, as these are common payment methods requested by scammers.
Do not click on links or attachments from someone you do not know.
Search for the organizations you are interested in supporting. Most reputable non-profits have a .org website address.
Do not provide personal information in response to unsolicited messages.

The Penny is Retiring – Here’s What That Means

msouth — Fri, 24 Oct 2025 18:37:04 +0000

October 24, 2025

The U.S. Mint has announced they will end the production of pennies in 2026. The change comes in response to rising costs and a decline in usage, as the average penny currently costs four cents to produce and distribute.

Pennies will still be accepted as cash, but once they are lost or damaged, they will not be replaced. It will likely take a few years before they fully disappear from everyday use.

A few ways you can still use your pennies:

Spend them as usual.

Check for older coins – pennies made before the early 1980s contain more copper and may be worth more.

Hold on to them as collectibles.

Deposit them at a Middletown Valley Bank branch.

What happens when I cash a check?

Customers: You will still receive cash back, but all pennies will be deposited into your account.

Non-customers: We will round to the nearest nickel:

Transactions ending in 1, 2, 6, or 7 will be rounded down to the nearest nickel.

Transactions ending in 3, 4, 8, or 9 will be rounded up to the nearest nickel.

MVB is here to assist you with any questions you may have about this change. The American Bankers Association has published a helpful list of FAQs regarding the penny.

Phasing Out the Penny FAQs

Shred Event!

jleveque — Sat, 04 Oct 2025 13:02:29 +0000

October 4, 2025

Financial Tips for New Parents

msouth — Wed, 01 Oct 2025 12:57:24 +0000

October 1, 2025

Having a baby is a major life event that comes with several new expenses and decisions to think through and discuss. There is a lengthy list of items to consider updating, including your budget, bank and investment accounts, retirement contributions, insurance, tax forms, and estate documents, to name a few. These are broken down by categories below to make the process feel a little less intimidating for new parents.

Update Your Budget and Accounts

Your budget will change as your child gets older and you take on new expenses and outgrow others. Some expenses are upfront costs and others are recurring. For example, you will likely need to budget for two car seats – one the child will use for roughly the first nine to 18 months and another they will use until they no longer need a car seat. Despite the need for a second car seat at some point, you can view this as an upfront cost. Recurring expenses are those you can expect to include in each month’s budget, such as diapers, food, clothes, childcare expenses, and more. It is best to account for these costs before the baby is born so you can adjust your budget in other areas to account for the new expenses and to boost your emergency fund.

The birth of a child also marks a good time to update your bank and investment accounts. Consider adding your child as a beneficiary and opening a savings account you can contribute to each month. When it comes to investing, most U.S. states offer 529 investment plans that allow you to make federal income tax-free withdrawals to pay for qualified educational expenses. While 529 plans have historically been used for college-related expenses, many of the available state plans even consider K-12 education and trade schools qualified expenses.

Update Your Contributions

If you currently contribute toward a health savings account (HSA), it may be a good time to increase the amount you set aside each month to prepare for health-related expenses. You will likely visit a pediatrician many times in the early years of your child’s life, so take advantage of the pre-tax dollars to pay for health costs that insurance does not cover.

A flexible spending account (FSA) is another option offered by many employers. This account can be used to set aside pre-tax dollars to help with childcare expenses, including nursery school and preschool. These funds can also be used for before- or after-school care for children up to age 13. However, unlike an HSA account, the funds do not roll over from year to year, so you must use what you set aside in the account.

When it comes to retirement, it may be tempting to lower the amount you contribute from each paycheck after having a child. After all, you will be taking on new expenses that you did not previously have to consider. If you do not believe you can afford to save for both retirement and your child’s future college education, consider choosing retirement. There are other ways for your child to pay for college, such as grants, scholarships, and loans, but you cannot make up lost retirement savings.

Update Your Health Insurance

Do not be concerned if your baby is set to arrive before or after your annual enrollment period. The birth of a baby is considered a qualifying life event, and this allows you to update your health insurance or enroll in a new plan to provide coverage to your baby. Most plans require you to make necessary changes within 30 to 60 days after your child is born. If you make the changes on time, your baby should also be covered retroactively between their birth and enrollment.

Update Your Tax Documents

The Child Tax Credit is currently $2,000 per child for individual filers with income less than or equal to $200,000 and joint filers with income less than or equal to $400,000. For those with higher income, the credit amount is reduced by $50 for every $1,000 in income over the threshold. It should be noted that the deduction does not lower your taxable income but is a dollar-for-dollar reduction of your liability. It is best to speak with a tax planning professional to determine your eligibility and to learn more about the options available to you.

Update Your Will and Beneficiaries

The birth of a child is an ideal time to update or create a will. Every parent should have a will, as it outlines important information such as who you would like to serve as the legal guardian of your children if something were to happen to you, the beneficiaries of your accounts, how you would like to divide your assets, selecting powers of attorney for health and financial decisions, and more. This information can be updated at any time but be sure to have the will notarized to help prevent potential legal issues should someone contest what is listed. It is helpful to have a conversation with an attorney to make sure everything is filled out properly, as well as the potential guardians of your children to ensure they understand your wishes.

Cybersecurity Awareness

msouth — Wed, 01 Oct 2025 12:54:00 +0000

October 1, 2025

October is Cybersecurity Awareness Month, so let’s discuss some of the best ways you can protect yourself online. The Cybersecurity & Infrastructure Security Agency (CISA) has chosen the theme of ‘Building a Cyber Strong America’ to promote ongoing cybersecurity habits and safe behavior online. The top four tips they offer for staying safe online include:

Use strong passwords: Characterized by long, random, and unique characters, with a mix of uppercase, lowercase, numbers, and symbols.
Enable multi-factor authentication: Lowers the chances of getting hacked, as it requires users to take an extra step to log in after providing their username and password. Authentication is commonly received through text or email.
Spot and report phishing attempts: Unsolicited messages asking for personal information are a common sign of phishing. Do not share your personal information or click on any links found in these messages.
Keep your software up to date: Regularly check for updates if you have not enabled automatic updates on your device.

Google adds to this list by reminding users to only use secure networks when connecting to public or free Wi-Fi. Do not continue using the network if the browser indicates it is not secure, as others will potentially be able to see the information you provide on the sites you visit. Following these tips will help protect you from many of the scams that are out there today.