Actually, the yadda-yadda-yadda about “The Housing Market” makes me yawn with boredom. Take a look at Jamie Smith “The Real Estate Wonk” Hopkins’ latest post on her blog entitled “A Drop - or Not“. This is the post before where she writes about Michael Jackson’s house being foreclosed on- didn’t he move to Abu Dubai or someplace? He’s not still living in Neverland, is he?

Anyway, to get back to the subject at hand here. She comments in her blog on her own article in the newspaper! That alone is good for a giggle. But if we look at her original article “Md. home prices dip in 4Q” we get stats from The Office of Federal Housing Enterprise Oversight (a new one on me, and I’m from DC) and then we get an opinion from Andrew Leventis, senior economist at The Office of Federal Housing Enterprise Oversight. Then we get an opinion from Celia Chen, director of housing economics at Moody’s Economy.com. It deosn’t stop there- we get more stats from Standard & Poor’s Case-Shiller index, but guess what? That doesn’t track Baltimore. Whoopee!
I could barely care less about all these stats and what the friggin’ market is doing in California. What makes real estate interesting is that each house is different! Each neighborhood is different. (Although this is less true in suburbia than it is in Baltimore City). We’re not talking about a commodity where each unit is just like every other unit. Each deal is different. Each house has a different history. My neighbor got his house for less than $15,000 in 1975! Some houses are overpriced, some houses are a deal. According to who? Well, I’m not a senior economist with OFHEO, I’m not even a columnist at The Baltimore Sun, but I have opinions. I don’t have opinions on entire friggin’ markets, I have opinions on houses. They’re just my opinions. That’s all.

Lies, Damned Lies, and Statistics

jberlow@cityliferealty.net

March 28th, 2008 marks the expiration of the Open Skies Agreement, thereby voiding red-tape that has in the past kept many US carriers from running routes between certain cities Europe and the US.  While it doesn’t appear there will be any immediate changes, the deregulation could be a real boon to BWI’s underutilized International wing.   European discount airlines RyanAir and EasyJet have expressed interest in starting service to the US, possibly as early as 2010.  Currently the airlines only service locations in and around the European Union.  BWI, already a discount travel hub, would be in the best position to accommodate those routes. 

Southwest airlines, which has its second largest hub at BWI already, has also made suggestions that they could foray into international travel, potentially using assents/routes from recently acquired ATA Airlines.  It’s speculated that Southwest could start by offering flights to the Caribbean as an experiment before making the long haul to Europe. Discount routes between Europe and BWI could also bring tourists to the area (especially if exchange rates stay the way they are).   Certainly the idea of hopping on a cheap flight for a long weekend in Europe is something anybody would love.

Baltimore Sun Article
Aviation Week Article

jeffcantonite@yahoo.com

I purchased a home in the Union Square/ Carrolton Ridge neigborhood about a year ago because of its proximity to downtown and all the major interstates.  Yeah, it was a diamond in the ruff but there are a number of rehabs going on in this area, the newest being my next door neighbor.  Aside from the Universtiy of Maryland Bio Park crossing over MLK, the 400k townhomes adjacent to the B&O railroad on West Pratt Street, is there anything else that I should be excited about purchasing my first home on the Westside of Baltimore City?  Are there some other projects that someone knows about that I don’t?  I’d love some feedback.

I just want to counter some other blogs out there that will have you believe that there’s a housing “bubble” going on and that house prices will decline: so don’t buy a house. Bullfeathers. OK, maybe that’s true in Florida and California, I don’t know. But it’s not true about Baltimore. A house is still one of the best investments you can make, period. If your credit is good and your income is steady, you shouldn’t be renting if you live and work in Baltimore and plan to live here for the foreseeable future. Interest rates are low and there’s a large housing inventory out there for you to choose from. If interest rates go up and house prices decline, are you in a better position? No- you’ll pay more for your mortgage and get less house. House prices aren’t going to decline much (if at all) but interest rates will go up someday. I’m not saying this just because I’m a real estate agent- I really believe it! Baltimore is a better deal than DC, IMHO. Buying a house protects you from inflation, and we’re in an inflationary fiscal environment right now. Also, there’s a feeling of security and pride in being a homeowner that can’t be measured in dollar terms.

OK- I’ve managed to convince you. What steps to take in buying a house?

1. Get pre-qualified. That means finding a lender and making sure your credit is good enough to get a mortgage. It also gets you thinking in terms of how much to spend. I’m conservative on this point- I don’t believe in throwing all your income into a mortgage. No matter how much you’re spending on rent, you can probably find something to buy at that level, or not much more.

2. Decide on the neighborhood. A lot of factors will go into this decision. Pick two or three.

3. Find a real estate agent and look at houses. Do you want a house in perfect condition, or do you have some cash that you can use to make repairs? If you’re willing to make significant repairs, you can save on price and get “sweat equity”.

4. Make an offer. I’m not scared of making a low-ball offer- that’s why I’m a good real estate agent to work with! Negotiate and get a housing inspection. At this point, even if the seller took your offer, you can still ask for repairs. I don’t know why you have to make an offer before the inspection; that seems a strange way to go about things, but I believe that even if your seller took your offer you can still negotiate at this point. I know we did!

5. Settle, get the keys, and move in! Paint the walls, get new windows, learn how to use the heater. You’re home.

This list isn’t meant to be official or anything, it’s just some ideas I have on the process. Comments and criticisms are welcome.

So I was reading Colleen’s blog - SoBoBlog - and very excited to hear that Ledo Pizza is apparently moving to Southside Shopping Center in Locust Point. For whatever reason my wife and I are addicted to their pizza. Maybe it’s because it’s square (how do they do that?), or maybe it’s the sauce… but nevertheless I’m pumped. My very own Ledo pizza within a couple blocks. I wonder if they will be able to acquire a liquor license for the location. Every Ledo’s I’ve ever been to serves beer & wine. But the shopping center may have restrictions because there isn’t currently any other businesses serving or selling alcohol. But that’s really not important - as long as they got the square pizza and big lasagna, I’m set. Another excuse for us not to have to cook. And yet another reason as Colleen discusses, is the opening of Luca’s Cafe on Fort Avenue. Luca’s - occupying the space that was formerly Truman’s Tavern - is serving pizza/Italian/American. Looks like eating in my area are is getting a lot better.

Read the rest of this entry »

Just when you thought the friendly neighborhood Baltimore corner bar was becoming extinct, comes another announcement of a new corner restaurant and bar in Canton.  “Sauté” at the corner of Hudson and Linwood Avenues joins Yellow Dog and Annabel Lee’s as yet another new cozy (but refined) neighborhood hangout.   The restaurant has been under construction for what seems like over a year, and has been watched closely by neighbors who feared that it might have turned into a rowdy nightspot.   Quite the opposite, it appears that Sauté will become a great addition to the Canton Dining Scene.  Sauté is expected to open very soon.  Here’s some more information:

“Chef Cyrus Keefer is opening his new restaurant, Sauté in Canton, Maryland in early 2008. Chef Keefer has had a long on-going affair with food and the restaurant industry Sauté will be a American brasserie style of cuisine, utilizing fresh produce and products from Maryland farmers.

Chef Cyrus Keefer trained at Philadelphia’s prestigious Walnut Hill College Restaurant School, where he trained under many of the world’s finest chefs. Keefer has helped launch several outstanding restaurants in the Delaware shore area, and has been featured in national publications and television programs. Prior to Sauté, Chef Keefer owned and operated Jackie Blue in Harrisburg Pa. and was a chef owner of DISH! Restaurant in Rehoboth Beach, DE. Chef Keefer also helped Chef Kevin Reading at Espuma in Rehoboth Beach and was the opening chef at Reading’s next project, Nage, also located in Rehoboth Beach.”

Sauté Restaurant, Canton, Baltimore, Maryland

This recent comment came in on the last Pigtown thread.  Due to the overwhelming response to that topic previously, I was hoping those readers could chime in here as well and help identify any cool hangouts in the Pigtown area.  Please read the comment below:

 nedworrd on February 20th, 2008 at 12:34 pm #

Finally a politician is putting an emphasis on public transportation in Baltimore.  If only such an urgency was in place 20-30 years ago, we wouldn’t have this mish-mash mess of transportation systems that connect poorly to each other (if at all).  Even though it’s the “in” thing to do (considering gas prices, global warming, pollution, etc…) at least someone is doing SOMEthing.  

Shiela Dixon took the next step in the Red Line project today by appointing a liaison to resolve community concerns and presumably help push the project forward.  Mayor Dixion said the Red Line was one of her top priorities. 

 The Red Line has gained some opposition, particularly from residents of Fells Point who can bear to see Alice Anna and Fleet turned into one way streets while trying to jam a light rail down the middle. 

A Canton resident myself, I would love to be able to hop on a train and make it downtown in 5 minutes without having to pay $25 for parking, but I do share some of the same concerns of my neighbors in Fells Point. 

I happened upon an interesting post from a fellow blogger at baltimoreinnerspace that proposed extending the current Metro, which currently ends at Hopkins Hospital, to Canton Crossing (Ed Hale’s new mixed use development on Boston St.) instead of building the new Red Line. Although it bypasses Fells Point and the Main Part of Canton, it would pass through areas that have a great amount of potential for future development.  It doesn’t seem like a bad idea.  Check out his post here:

http://baltimoreinnerspace.blogspot.com/2006/10/red-line-should-turn-green-running-red.html

 I’m interested to hear what people think.  Post a comment if you have an opinion.  If you want to share your opinion with the city, there will be a community meeting on May 10th, 2008 from 9am to 1pm at the Baltimore Convention Center. 

To learn more about the Red Line, visit http://www.baltimoreredline.com/

Proposed Red Line Route:

Just when you thought the number of daily newspapers in Baltimore was dwindling… First we get the Examiner, now we get “b”.  Starting April 14th, “b” (which is produced by the Baltimore Sun) will be distributed for free at news stands around the city.  The target audience will be generally be young adults, so the papers will apparently be distributed as locations such as restaurants, bars, and gyms.  The tabloid will generally focus on pop culture, but will have heavy coverage of local nightlife and entertainment.   A central repository of local events is urgently needed in Baltimore where coverage of “going ons” is mostly spattered across various websites (such as citysearch and metromix) and the neighborhood newspapers (seriously lacking).  Hopefully “b” will help energize Baltimore’s growing cultural and nightlife scene for younger residents and will encourage even more young people to move to the city.

Visit the website:  http://www.bthesite.com/ 

 Post by: jeffcantonite@yahoo.com

The Baltimore Business Journal reported today that Baltimore City Community College will be requesting proposals to add shops, offices, and possibly housing at the existing downtown campus.  The development will occur in BCCC’s existing Bard building and a space they own in the Harbor Park Garage across the street.  The Cordish Company, which owns the nearby Power Plant and Power Plant Live complexes has already expressed interest.  Cordish may use this opportunity to connect all of their developments in the area.  BCCC will continue to offer classes at this location.