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NEWS
By Larry Carson | December 28, 2007
Baltimore's property values are growing faster than anywhere else in Maryland, while the rate of increase in wealthy Montgomery County trails the state, according to 728,185 reassessment notices to be mailed today by state officials. The topsy-turvy results showed the smallest percentage increases in the state's most prosperous places -- such as Montgomery and Howard counties -- while areas that often lag economically saw much greater gains, despite a sluggish real estate market. "Anyone who's been paying attention to the city of Baltimore has watched it become a much more desirable place to live," said Sterling Clifford, a spokesman for Mayor Sheila Dixon, referring to recent news of a slight increase in the city's population after decades of population declines.
BUSINESS
By Janet Kidd Stewart | March 4, 2007
Six children - all living at home at least part of the year. Thousands of dollars in college loans and credit-card debt. Variable income dependent, in part, on a declining real estate market. Is it any wonder Rita and Bob Groark are feeling financially stressed? "I am slowly going broke, and I worry constantly how I am going to pay my bills every month," Rita, 52, said. "It is just incomprehensible that between the two of us we bring in $7,000 net income per month and we still cannot pay our bills."
BUSINESS
By Bill Atkinson | January 10, 1999
INVESTORS enamored with soaring Internet stocks should take a lesson from the people who fell in love with REITs, thinking they had no place to go but up.REITs, more formally known as real estate investment trusts, were hailed by analysts several years ago as a promising bet. They offered investors an ownership stake in the booming real estate market, a fat dividend check and a conservative play all in one.But REITs flopped last year, returning a dismal negative...
NEWS
By Tom Pelton | October 22, 1999
One of the biggest tasks facing Baltimore's next mayor will be trying to slow and perhaps reverse the tide of migration that has seen some 90,000 residents pack up and move out of the city since 1990.Republican nominee David F. Tufaro and Democrat Martin O'Malley offer different perspectives on how the city should persuade more families to remain and buy or rent homes in the city.Tufaro, a developer from Roland Park, says the city's staggeringly high real estate taxes discourage home buyers.
BUSINESS
By Amanda J. Crawford | September 19, 1999
REAL ESTATE in the Baltimore metropolitan area is booming. Month over month existing home sales have increased since July 1997. What factors are contributing to the increased sales? How long can this real estate boom continue? What could happen to slow it?P. Wesley Foster Jr.President and owner, Long & Foster Real Estate Inc.There are two reasons for the good resale home activity. Number one, there is the lowest unemployment in 30 years. People know they are going to keep their jobs, so they are able to make a big purchase.
BUSINESS
By Kevin L. McQuaid | January 24, 1999
Ed St. John has seen more than a few peaks and valleys over the course of three decades in the commercial real estate business.And in the mind of the MIE Properties Inc. president, 1999 will mirror the year before: While healthy, it will be neither zenith nor nadir.He isn't alone in that prediction. Throughout the Baltimore-area commercial real estate market, industry experts say the coming 12 months will be prosperous for all types of real estate."I think you'll see continued momentum at work in both the office and industrial sectors," said Robert A. Manekin, president of Casey & Associates Inc., a Baltimore-based real estate services firm.
BUSINESS
By Kevin L. McQuaid | January 18, 1998
Fueled by a stable local economy and anticipated job growth, Baltimore's commercial real estate market will continue to surge ahead this year, local analysts predict.Unlike the past years of this decade, though, the coming 12 months will be ones in which developers will begin new office projects, in reaction to a dearth of new construction, shrinking vacancies and increasing rent rates throughout the metropolitan area."We're in a recovery mode in all sectors," said Anthony W. Deering, chairman and chief executive of the Rouse Co., the Columbia-based real estate concern that controls the 28-story Legg Mason Tower and Harborplace downtown and a collection of office buildings and retail malls in the suburbs.
BUSINESS
By Kristine Henry | September 27, 1998
INVESTORS in real estate investment trusts have been holding on to their hats. After plunging about 25 percent this year, REITs began rallying last week. Why did REIT stocks fall and why are they on their way back? What does it mean to the real estate market?Martin CohenPresident, Cohen & Steers Capital Management, New York, with $5 billion in REIT holdingsREITs just experienced the strongest rally that they've seen in years. Up until a few weeks ago, we were in a bear market, and they recently bottomed out and started a very strong rally.
BUSINESS
By Robert Nusgart | July 26, 1998
A little more than six months ago, incoming president of the Greater Baltimore Board of Realtors Gilbert D. Marsiglia was cautiously optimistic that 1998 would be a "decent year."Decent isn't the word that area Realtors and industry officials are using to describe the first half of 1998.Try "unparalleled" ... "wonderful" ... "unprecedented."After a flat 1997, when sales for existing homes showed a 1 percent increase for the year, the electricity began to flow into the Baltimore real estate market in January and hasn't stopped.
BUSINESS
By Robert Nusgart | December 20, 1997
Buoyed by strong showings in the city, Howard and Harford counties, existing home sales for the Baltimore metropolitan region are finishing the year with their third straight monthly climb.According to statistics released yesterday by the Maryland Association of Realtors, sales in November rose 10 percent above those of November 1996.That comes after gains of 9.5 percent in October and 16 percent in September. Leading the way was Baltimore, where the continued upsurge in sales showed a gain of 27 percent over November 1996.
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NEWS
By Laura Vozzella | October 9, 2009
Even in this real estate market, a for-sale sign can create a buzz. A "STUNNING/ELEGANT" 6BR, 31/2 BA house for sale in Reisterstown has people talking. It's not the "updated" kitchen that's generating interest. Nor the "lush landscaping." It's the political intrigue. Jim Smith, the term-limited Baltimore County exec, is selling the house and moving to an apartment in Andy Harris' state Senate district, where he'll mull a run for that seat. Smith and his wife, whose four children are grown, put their house up for sale two weeks ago. "My wife and I are planning to downsize," Smith said.
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NEWS
By Lorraine Mirabella | March 14, 2009
Real estate agent Vito Simone resigned yesterday as president of the Greater Baltimore Board of Realtors to focus on resolving a personal bankruptcy case in which he and his wife list $3.9 million in debt. "There have been many circumstances in these economic times of great uncertainty that have affected so many in profound ways, including me and my family," Simone said in his resignation letter. "Recent events require me to step aside and focus on the needs of my family." David McIlvaine Sr., a broker with Keller Williams Select Realty in Ellicott City and president-elect of the Realtors board, automatically becomes president, said Joseph T. "Jody" Landers III, GBBR executive vice president.
NEWS
January 19, 2009
Falling prices keep housing affordable As a real estate agent in Baltimore, I intimately understand the effects of the recession on my business, my clients and the real estate market in our region ("The year of the slump," Jan. 12). And the news isn't great. However, I think some perspective is in order. The 3 percent drop in average home sale price in this area over the last year cited by The Baltimore Sun is nothing compared with what has happened in many other cities. Although some may not want to hear this, I think we in this area ought to consider ourselves lucky.
NEWS
January 1, 2009
Here's an unpleasantry awaiting Maryland homeowners in 2009: Even if your home has declined in value this year - perhaps even substantially - and your local tax rates are unchanged, you may be facing a higher property tax bill. Talk about adding insult to injury. There's nothing quite like taking a heavy dose of theoretical pain (the loss of equity in your home, which you don't see until it's time to sell) with a bracing chaser of higher taxes in the here and now. For about one-third of homeowners, the bad news arrived in the mail this week with the latest round of real estate assessment notices.
NEWS
By LAURA VOZZELLA | November 19, 2008
Andres Alonso is busy fixing Baltimore schools. Don't expect him to prop up the city's ailing real estate market, too, even though he just bought a house in Fells Point. "I don't think I paid top dollar for it," the schools chief said. "I took full advantage of the real estate market." Alonso, who came to town in the summer of 2007, has been renting in Otterbein. He's not saying what he paid for his new digs. (And don't look at me; the price isn't in public records yet, since he just closed Monday.
NEWS
November 16, 2008
The year is quickly fading, along with expectations for a rebound of the real estate market. That's OK, because there's always next year. We're looking for New Year's resolutions from buyers, sellers, homeowners, Realtors, contractors and anyone else who has a piece of the real estate pie. Tell us what you promise to do in 2009 to sell or buy a home, renovate, upgrade or improve your living space or help a client get there. E-mail your resolutions (100 words maximum) to homes@baltsun.com by Nov. 21. Please include your name, city and phone number.
NEWS
November 2, 2008
The year is quickly fading, along with expectations for a rebound of the real estate market. That's OK because there's always next year. We're looking for New Year's resolutions from buyers, sellers, homeowners, Realtors, contractors and anyone else who has a piece of the real estate pie. Tell us what you promise to do in 2009 to sell or buy a home, renovate, upgrade or improve your living space or help a client get there. E-mail your resolutions (100 words maximum) to homes@baltsun.com by Nov. 21. Please include your name, city and phone number.
NEWS
By Ilyce Glink | September 28, 2008
I wish to refinance my rental property (a townhouse). I have been advised that doing a cash-out refinance isn't possible in today's climate, and that if I want to take cash out of the transaction, I have to refinance using an equity loan. I asked if federal or state law required me to refinance this way, but I've received no definitive explanation. Can I refinance to take money using an equity loan? The current credit markets have made it difficult to finance rental property - even if you have a large amount of equity in the deal.
NEWS
By Brad Schleicher | March 16, 2008
With home prices sliding, interest rates falling and worried sellers looking to deal, this may be a good time to become a homeowner. But is it a good time to become a real estate agent? During the boom, young people -- and those looking for a midlife career change -- were drawn to real estate. Money magazine listed "real estate agent" among the Top 20 jobs for the "young and restless." As the market slows and competition increases, young agents are feeling the pinch, perhaps more than others.
NEWS
By Larry Carson | December 28, 2007
Baltimore's property values are growing faster than anywhere else in Maryland, while the rate of increase in wealthy Montgomery County trails the state, according to 728,185 reassessment notices to be mailed today by state officials. The topsy-turvy results showed the smallest percentage increases in the state's most prosperous places -- such as Montgomery and Howard counties -- while areas that often lag economically saw much greater gains, despite a sluggish real estate market. "Anyone who's been paying attention to the city of Baltimore has watched it become a much more desirable place to live," said Sterling Clifford, a spokesman for Mayor Sheila Dixon, referring to recent news of a slight increase in the city's population after decades of population declines.
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