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Old 04-17-2013, 08:21 PM
 
34 posts, read 67,188 times
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Which neighborhoods do you think are on the rise in Baltimore? In particular, which neighborhoods do you think are at the beginning of their rise? Which neighborhoods would you consider to buy a home in, if there was the possibility you'd move after 3 or so yeas? Where is the best short-term investment for an owner-occupant? Thanks!
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Old 04-17-2013, 11:18 PM
 
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Buying a house in the short run is fraught with risks. The cost of buying the house plus the cost of selling the house within a few years is rarely compensated by any appreciations in a normal real estate market, and we haven't even talked about the interest payments you make during the first few years of a mortgage.

It's only during days of rapid appreciation that you can make money "flipping" a house within a few years. Will house prices appreciate noticeably over the next three years? Your guess is as good as mine.

But back to your query. My money is on the mid-town stretch along and off Charles Street between Mount Vernon and Johns Hopkins, including Charles Village. Others will suggest the Patterson Park vicinity. These are areas that are already up and coming and are becoming more established. Much less risky than an outlying neighborhood.
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Old 04-17-2013, 11:44 PM
 
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Highlandtown, Greektown, Patterson Park, Brewers Hill, Remington, Station North, Barclay, Oliver, EBDI.

Depending on who I talk to, I hear Hamilton is either rising or falling. Much of NE and the Lake Montebello area seems to have renovation going on but also taking on displaced low income people from East Baltimore. Pigtown and Hollins Markets are making improvements and I would guess they'll have a strong next 5 years but both have a history of setbacks. There are other consistently stable hoods that will probably rise a bit as allure I'd city living is growing like Violetville, Morrell Park, Medfield and Ednor Gardens.

Reservoir Hill could have a huge rise if the Madison Park North apartment complex goes away...which is being attempted but held up.
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Old 04-18-2013, 04:01 AM
 
Location: Portland, Maine
4,180 posts, read 13,506,496 times
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The Baltimore Sun recently printed an article with a study completed of neighborhoods with greater home-value appreciation. Maybe do a search to see the results.....
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Old 04-18-2013, 07:26 AM
 
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Definitely Cherry Hill.
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Old 04-18-2013, 07:59 AM
 
Location: Bolton Hill
805 posts, read 1,907,700 times
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Quote:
Originally Posted by are you kidinme? View Post
Definitely Cherry Hill.
Maybe from what it was but I'm not sure if that means much.
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Old 04-18-2013, 10:35 AM
 
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Yeah keep in mind you are losing about 6% of the new value at sale for fees and commission and at purchase you are hit with and a few more percent at purchase. Take out whatever money you put into the house, how many days it may be on the market at sale when you could be in another house, and other issues.

I don't think it would be worth selling a house you bought for $200k for much less than $250k.

So find the best deal possible. Pigtown homes are selling at rock bottom numbers right now. I don't think it's out of the question to think something you buy at 120k could be worth 180k in five years.... but who knows. Those homes originally sold for 200k.
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Old 04-18-2013, 11:21 AM
 
6,885 posts, read 10,442,529 times
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Quote:
Originally Posted by KLynch10 View Post
Yeah keep in mind you are losing about 6% of the new value at sale for fees and commission and at purchase you are hit with and a few more percent at purchase. Take out whatever money you put into the house, how many days it may be on the market at sale when you could be in another house, and other issues.

I don't think it would be worth selling a house you bought for $200k for much less than $250k.

So find the best deal possible. Pigtown homes are selling at rock bottom numbers right now. I don't think it's out of the question to think something you buy at 120k could be worth 180k in five years.... but who knows. Those homes originally sold for 200k.

Like the City's Recordation Fee... Yikes.. that will add atleast a grand to most home purchaes in the City in terms of your settlement cost.. I find it funny that the City offers a grant to buyers who purchase homes in the City.. Much of the grant covers the fees that the City places on the buyer... Its like the City is taking money out of its right pocket and putting it in its left pocket.. Giving you a city grant to pay fees that the city imposes? I guess its a good racket so people think they are getting a deal though no where near as lucrative to what they give developers......
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Old 05-04-2013, 07:08 PM
 
1,915 posts, read 3,573,787 times
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I moved to Remington over four years ago, and my friends and family questioned my decision and sanity!!! Well, that has changed!
Within the past year, a majority of the "shells" have been snatched up and are now being renovated. There's several projects being run by the Seawall Corporation....rehabbing shells for teachers. Kind of strange to see Yuppies walking around. Seems like Remington is now the hottest neighborhood in Baltimore. Just glad I bought before it was considered an up and coming neighborhood.
It makes cents though. The location is perfect, right off of 83 and with Hopkins University, great restaurants, parks and close to public transportation. I just thought for a few years, Remington was my little secret!
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Old 05-04-2013, 07:10 PM
 
1,915 posts, read 3,573,787 times
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Quote:
Originally Posted by are you kidinme? View Post
Definitely Cherry Hill.
Hmmm....that's true. Starting from the bottom, Cherry Hill should rise!
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