I love Baltimore, thinking about purchasing a property

[ItalianExec]

Originally Posted by Hovering

I took a train to Baltimore last night, and believe it or not - I love it here! My cousin (a Rabbi) owns a synagogue here and toured me around and gave me a better view on the city. I really am enjoying it, my only question is, where the hell are the DC folks and DC money?!?!! I see $$$ potential in mostly every corner here. Also please note that my budget is up to $500,000, however I would prefer to save as much as I can. Also about the apartment I was talking about- it's across the street from the light rail stop!

I usually refuse to feed the trolls, but here it goes. Why would someone with DC money move to Baltimore as their residence. Their job is in DC, Nova, Montgy County. The Merc train is extremely crowded into dc. I have owned 4 homes in Baltimore. Renovated (average about $13K) and then rented them out. 10 out of 13 renters defaulted within in a year. This was in Patterson Park and Pigtown. My car was broken into 5 times in 3 years while parking on the street, older benz. The public school system in Baltimore is among the nations worst.

You say you see Money potential? How? For investment properties. You will encounter a large group of deadbeats who hide behind bmore very liberal renter policy of staying in a home for 3 months and not paying, then having to get a court order and the police to remove them ($475). I enjoy visiting the club areas and few resteraunts but with the racial tension you could not pay me to live in downtown bmore.

I also encountered the crips street gang members twice. How is that for fun.

[pwduvall]

Originally Posted by Tarheel8406

The DC folks are probably staying in DC because its property tax rate is 0.85% versus Baltimore's rate of 2.248%. That doesn't include the state's property tax rate, which brings the total to 2.36%. Half a million dollars worth of property will cost you $4,250 a year in DC and $11,800 a year in Baltimore. Your money will get you more in Baltimore, but what's the point when you're paying an arm and a leg in taxes?

Some people believe that taxes are the only expense that matters. High taxes do knock down the value of property. Still, you need to look at total cost of ownership including principal and interest. High Baltimore City property taxes knock 15-25% off the value of properties with mortgages.

If you are buying a building with cash to just hold empty, taxes are going to eat you up. Baltimore already has enough people holding on to empty buildings. People that want to do that can take their money to DC.

[pwduvall]

Originally Posted by BMoreJuice

Interesting to see ones opinion about downtown. I have noticed that almost nobody has ever recommended downtown as a potential place to live to prospective patrons of Baltimore. The downtown area is just simply one of the weakest urban experiences that I have ever seen. It is just not built up enough, not very large and more of a commercial industry than anything. It's not the downtown that most have vision for. Personally, I would choose Mount Vernon since it has the most characteristics for a downtown experience. Beautiful architecture, restaurants, stores, Peabody library, train station, walkability to inner harbor, ect.

But OP, don't worry about the what others think. If you are three blocks away from work, good for you. The amount of money you would save on gas is incredible. I wouldn't worry about crime either, there is lots of people in the city walking around. If anything, some of the neighborhoods like Hampden have the highest amount of property crimes in the city. You will be fine.

In my opinion the west side of downtown should be a top priority for any administration. I think the situation there could be turned around in just a few years. Of course, our current administration doesn't have priorities. The Mayor believes that her job is to sit in her office and push papers. Riots you say?... well, we need to follow procedures and keep to my schedule... and by the way, I'm not taking any calls.

[ktaadin]

I took a train to Baltimore last night, and believe it or not - I love it here! My cousin (a Rabbi) owns a synagogue here and toured me around and gave me a better view on the city. I really am enjoying it, my only question is, where the hell are the DC folks and DC money?!?!! I see $$$ potential in mostly every corner here. Also please note that my budget is up to $500,000, however I would prefer to save as much as I can. Also about the apartment I was talking about- it's across the street from the light rail stop!

You can find a very nice apartment in Baltimore city for much less than 500k, even in the best neighborhoods.

In my opinion the west side of downtown should be a top priority for any administration. I think the situation there could be turned around in just a few years.

Agreed. If we could clean up downtown and (especially) give it a nearly 24 hour appeal, I think it would accelerate many positive processes throughout the city. The west side has some solid historic and architectural appeal, plus is physically laid out to be well-suited for a walk/bike/bus/subway lifestyle.

[Sunflowery]

Originally Posted by ktaadin

You can find a very nice apartment in Baltimore city for much less than 500k, even in the best neighborhoods.



Agreed. If we could clean up downtown and (especially) give it a nearly 24 hour appeal, I think it would accelerate many positive processes throughout the city. The west side has some solid historic and architectural appeal, plus is physically laid out to be well-suited for a walk/bike/bus/subway lifestyle.

Right, I'm fed up about the Inner Harbor getting so much shine. Downtown Baltimore is very close to the Inner Harbor and it shouldn't be like night and day between the two areas. Since suburban sprawl happened, downtown Baltimore got thrown to the wolves. 20 years ago, I never saw so many junkies and drug dealers down there.

[BMoreJuice]

Originally Posted by pwduvall

In my opinion the west side of downtown should be a top priority for any administration. I think the situation there could be turned around in just a few years. Of course, our current administration doesn't have priorities. The Mayor believes that her job is to sit in her office and push papers. Riots you say?... well, we need to follow procedures and keep to my schedule... and by the way, I'm not taking any calls.

The one time I will ever endorse this but we really need a capitalist for a mayor.

[BMoreJuice]

Originally Posted by Sunflowery

Right, I'm fed up about the Inner Harbor getting so much shine. Downtown Baltimore is very close to the Inner Harbor and it shouldn't be like night and day between the two areas. Since suburban sprawl happened, downtown Baltimore got thrown to the wolves. 20 years ago, I never saw so many junkies and drug dealers down there.

No wonder why people will move to gentrified neighborhoods before they consider downtown. I would only consider Harbor East just because of the space. Little Italy is adorable but to crowded, even though Nancy Pelosi grew up there. I don't know, I don't think downtown could be expanded.

[GoingBackEast]

All anyone needs to do is search on spotcrime.com which gives real stats on reported crime around address you are interested in.