Buying a Place, What are Reasonable Prices? (Baltimore: for sale, real estate)

[dieanotherday]

So I've been communicating with this realtor and basically he told me that any condo under 200k and townhome under 300k is either in a bad place or is unlivable?

I've been here for half a year now and I don't know what to think. I've driving from the center of Baltimore in every direction and have seen the bad areas. I am living in Mt Vernon and the guy says the cheaper properties in Mt Vernon are also not good?

Am I being tricked or something?

[MrRational]

Originally Posted by dieanotherday

Buying a Place, What are Reasonable Prices?

As opposed to what are current market prices?

...told me that any condo under 200k
and townhome under 300k is either in a bad place or is unlivable?

Sad... but that is closer to true than not and it's a large part of why I'm now in NC

Am I being tricked or something?

Everyone is.

[choccity]

I have a end of row townhouseon the market for under $300 because the market dictates the low prices. And it's a very nice townhouse in a nice quiet neighborhood. It's under $300k. I actually need to lower the price cause it won't sell. It's listed now at $137k. But 5 townhouse in the same immediate area are under $60k. This is not the ideal market to have the nicest house on the block. Baltimore's housing market is great for investors, they want to buy cheap. Plenty of those types of houses around, but I'm not trying to give my house away and it's not a distressed property. Tough market.

[Tallybalt]

Your realtor is ignorant. There are condos for under 200K and rowhouses under 300K in safe and stable and even "nice" neighborhoods in Baltimore.

But what is true is that for condos under 200K and rowhouses under 300K you will have to compromise on something.

[pwduvall]

Originally Posted by Tallybalt

Your realtor is ignorant. There are condos for under 200K and rowhouses under 300K in safe and stable and even "nice" neighborhoods in Baltimore.

But what is true is that for condos under 200K and rowhouses under 300K you will have to compromise on something.

I completely agree with this.

What is your budget? Think about going into Redfin or one of the other real estate sites and putting in a price range of 150 K to 300K. You will come up with about 1,000 houses/condos for sale in Baltimore City. From there, you can start to narrow your parameters to places that may be a compromise for somebody else but not particularly for you. In general, the more expensive the place, the more your agent makes.

[rootless_in_va]

I really disagree with your agent. And I'll tell you something I wish someone had told me before we bought here-- you see those jazzed up, gut-remodeled townhouses with all the pretty finishes, granite countertops and the like? I either wouldn't touch them with a 40' pole or I'd touch them only after you pull the permits on them, check the license of whoever did the remodeling, and have a contractor (not a home inspector unless you get an unusually good one, many of them are utterly worthless) give it a thorough once-over. Everyone warns you about crime in Baltimore but nobody warns you about predatory remodelers. Get a house a flipper has ruined and you'll have bought a house at prime market rates that you then have to go into debt to fix. There are so many places going for top dollar that were snapped up by speculators and held together with wishful thinking and spackle. It happened to me and if I had a dollar for every person who empathizes with me because they've been through the exact same thing, I'd... well, maybe not be rich, but at least be able to get back the five figures we've poured into our house in the last year and a half we've owned it.

Unless you're looking for a top-of-the-food-chain neighborhood, I'd buy a house that's solid but needs updating in a neighborhood that's good but not the hippest. Learn who's good in the building trades from your neighbors (Nextdoor.com is a lifesaver), have the work done yourself-- that way you aren't overspending for a house and you know the work done is quality. Have you considered Remington? Lovely neighborhood with good people and houses that go for way, way less than $300k.

Finally, if your agent doesn't say anything about pulling permits on a remodeled rowhouse, get a new agent. I'd get a new agent anyway, since it sounds like this one is more interested in their commission and less on getting a house that works for you.

[LouisDS]

The house I'm renting at the moment in Patterson Park is worth 250K and although it needs touch ups all over, it is in one of the best residential neighbourhoods of the city and very very livable. Well, I've been living there for 2 years with my wife and kids so I guess it speaks for itself. 3 beds 1.5 bath remodelled 8 years ago.

And I've been monitoring the market for more than 2 years now and I can guarantee you that you can find very nice things in very nice places in the 200-300K range. It depends how much space you need, if you want a parking and how convenient it is to the entertainment, the shopping and a good school.When you search properly you find.