Appraised Value

A Carroll County Circuit Court judge refused yesterday to rescind the county's recent purchase of farmland in Union Bridge for $850,000 - more than six times the property's appraised value - for construction of a road and railway spur that will serve Lehigh Portland Cement Co. "An injunction is usually issued to stop something from happening," said Judge Raymond E. Beck Sr. "In this case, the [sale] has already occurred. ... It seems to me this issue is a ballot issue. If enough voters feel the price was too high, the voters will tell the commissioners that three years from now."

Editor: When I ran for City Council last year, one of the primary questions I was asked time and time again was "What are you going to do to protect the Havre de Grace Waterfront?" Not long after being selected to serve on the Havre de Grace City Council I learned that the city was negotiating to acquire the Gamatoria property at 701 Concord St. I felt this would be a tremendous opportunity to do just that…"protect the Havre de Grace Waterfront. " More importantly, this real estate was located right next to an historic landmark on the east coast; the Concord Point Lighthouse.

Hoping to rid Towson of an eyesore in its business district, the Baltimore County Council agreed last night to pay $200,000 toward the purchase of a closed gas station -- even though the price of the half-acre parcel is nearly double its appraised value.In other action, a bill to give the council more say in developments planned on former quarries was withdrawn by the bill's sponsor, who said he wanted to work out an agreement with Arundel Corp., which is proposing two projects on quarry sites.

The city's spending board postponed a vote on a plan to sell a parcel of West Baltimore properties to a team of developers after the city comptroller raised concerns that the buildings were being sold for a tenth of their appraised value. City Comptroller Joan M. Pratt recommended that the Board of Estimates hold off on voting after noting that the four properties in the 400 block of N. Howard Street, recently appraised at $1.2 million, were being sold to Howard Street Lofts LLC for $100,000.

Eager to kick-start his plans for east-side waterfront revitalization, Baltimore County Executive C.A. Dutch Ruppersberger announced yesterday that the county has negotiated the purchase of two prominent commercial properties without the threat of condemnation. "These property owners are willing sellers," Ruppersberger said at a morning news conference in Middle River. "We and they are happy we have done business together." The county plans to purchase Ensor Bros. Ice House and Don's Crabs, both at 1933 Eastern Blvd.

A Carroll County circuit judge refused yesterday to rescind the county's recent purchase of farmland in Union Bridge for $850,000 - more than six times the property's appraised value - for construction of a road and railway spur that will serve Lehigh Portland Cement Co. "An injunction is usually issued to stop something from happening," said Judge Raymond E. Beck Sr. "In this case, the [sale] has already occurred. ... It seems to me this issue is a ballot issue. If enough voters feel the price was too high, the voters will tell the commissioners that three years from now."

Over the strong objections of one council member who bemoaned a waste of taxpayers' money, the Baltimore County Council approved last night the purchase of land in a crime-ridden Dundalk neighborhood slated for redevelopment. The proposed land deal in the old Yorkway apartment complex is part of the administration's plan to buy and raze the complex and then sell it for new development. In the most recent in a series of deals, the county offered $170,000 for less than two-tenths of an acre in Yorkway, using the higher of two independent appraisals.

If you want to understand just how toxic a home mortgage can get, consider this real-life, continuing saga: Katherine Stephens is a 94-year-old widow, now living in a nursing home in southern New Jersey. According to her nephew, William Finch, she has $38 in her bank account. Monthly Social Security checks pay only a small portion of her nursing home bills. In 1988, Stephens and her husband, Harold, signed up for what they thought was a great concept for seniors: A "reverse mortgage" that would pay them $312 a month virtually in perpetuity - until they died or moved out of their house in Brigantine, N.J., near Atlantic City.

By agreeing to pay $165,000 more than the appraised price for Pauline Byers Shaffer's farm, the Carroll County commissioners have set a bad precedent, as Commissioner Julia W. Gouge pointed out in opposing the transaction.Mrs. Shaffer's 104-acre farm -- which has been in her family for five generations -- is adjacent to the Carroll County Regional Airport. A portion of the farm -- about 32 acres -- was needed for a planned extension of the runway. As time passed, the airport plans have been revised and the proposed runway realigned.

Saying any remedy should come at the ballot box, a Carroll County judge dismissed a taxpayers' suit yesterday against the county commissioners for paying substantially more than the appraised value of farmland needed to alleviate truck and train traffic in Union Bridge. The ruling by Circuit Judge Raymond E. Beck Sr. ends the courts' role in the dispute. At issue was the commissioners' Oct. 10 purchase from Sidney Darrell Lease Jr. and David Vincent Lease of 10.6 acres, plus the right to use another 15.7 acres, for $850,000 -- more than six times the appraised value, as reported by The Sun. Construction is expected to begin next month on the first leg of the new Shepherd's Mill Road.

Would you take a $100 chance on winning a $1.6 million house? Organizers of an estate home raffle in Baltimore County are betting as many as 35,000 people will step up to buy a ticket, compelled by the unusually big prize - a 5-bedroom mini-mansion on an estate lot in Phoenix - and the chance to help out a local charity. House raffles such as this one have been used as fundraisers by a handful of nonprofits for years, and they are a growing phenomenon as home sellers caught in a recession look for creative ways to stand out and nonprofits seek alternative funding.

Salary: $105,000 Age: 28 Years on the job: 7 How he got started: : Ryan Hlubb got his first taste of the job of an appraiser when he was a teenager and helped his father, who is also an appraiser, with tasks such as taking photographs and doing research. After high school, Hlubb attended the University of Maryland, Baltimore County as a computer science major but never finished. Instead, he went to work as a technical support supervisor for a digital security company. Later, he decided to go to work with his father as a commercial appraiser.

There are no such things in life as a free lunch, or a $100 house. Yet there seems to be a growing number of ever-so-tantalizing home raffles popping up, as more homeowners embrace innovative ways to beat the housing slump. Two are running in Maryland right now. For $100 a pop, you can try your luck at scoring a $550,000 home in Dunkirk or a $186,000 home in Owings Mills. It sounds like a win-win for all involved. Ticket buyers get a chance at a realty gold mine, homeowners unload property in a down market and a charity gets a slice of the pie. But be warned that this little adventure is not for the faint of heart or the ill-prepared.

City to sell long-vacant police station Baltimore will sell a long-vacant police station in Fells Point to a company that intends to develop the property into 30 condominiums, according to the terms of an agreement approved yesterday by the city's Board of Estimates. The city has agreed to sell the site, at 1621 Bank St., for $584,300 -- far below its $1 million appraised value. City officials said the developer will invest hundreds of thousands of dollars to remove asbestos, lead paint and other environmental hazards.

Over the strong objections of one council member who bemoaned a waste of taxpayers' money, the Baltimore County Council approved last night the purchase of land in a crime-ridden Dundalk neighborhood slated for redevelopment. The proposed land deal in the old Yorkway apartment complex is part of the administration's plan to buy and raze the complex and then sell it for new development. In the most recent in a series of deals, the county offered $170,000 for less than two-tenths of an acre in Yorkway, using the higher of two independent appraisals.

Baltimore County officials say parkland is so scarce in some areas that they're willing to pay premium dollars when it becomes available. But a plan to buy a patch of green on the east side has raised questions from a County Council member about the price the county would pay for it. The county administration has agreed to pay $900,000 to a developer for about 20 acres of a field next to Sparrows Point High School in Edgemere. The deal requires approval of the County Council, which has scheduled a vote for tonight.

Maryland Midland Railway officials say they are negotiating with operators of a dinner train that could replace the EnterTRAINment Line, which went out of business in May owing more than $500,000 to creditors.Maryland Midland President Paul D. Denton said he did not want to discuss details because no deal has been struck with the owners of the excursion line."The negotiations are pretty far down the track," said Mr. Denton. He said he has no timetable for a possible agreement, but that "it looks very promising at this point."

Beating the chemical industry to the buyout, Baltimore has begun acquiring a handful of remaining homes in the neighborhood of Fairfield, in effect extending the public purchase of Wagner's Point to all the communities on the Fairfield peninsula.Two large chemical plants in southern Baltimore -- detergent ingredient maker Condea Vista and herbicide producer FMC Corp. -- offered to buy the same homes this month in a "neighborly" gesture intended to ward off potential lawsuits over environmental exposure.

If you want to understand just how toxic a home mortgage can get, consider this real-life, continuing saga: Katherine Stephens is a 94-year-old widow, now living in a nursing home in southern New Jersey. According to her nephew, William Finch, she has $38 in her bank account. Monthly Social Security checks pay only a small portion of her nursing home bills. In 1988, Stephens and her husband, Harold, signed up for what they thought was a great concept for seniors: A "reverse mortgage" that would pay them $312 a month virtually in perpetuity - until they died or moved out of their house in Brigantine, N.J., near Atlantic City.

Two city-owned parcels of prime downtown Baltimore real estate were sold for more than $2 million below their appraised market values, according to recently released documents. The properties bookend a block of Washington Boulevard, with one across the street from Oriole Park at Camden Yards and the other next to the proposed site of a publicly financed convention center hotel. The Baltimore Development Corp., the city's economic development agency that is proposing the hotel, brokered both deals and had the support of Mayor Martin O'Malley and the city's spending board despite appraisals at higher figures.