“Desktop Valuations” are a quick way to look at the potential value of a home, but they do not take many factors into consideration, and some of the things they DO use to determine a value should not be used!

I answer questions on the Zillow site, and so many times the questions come from a place of, “Why, in my townhouse community where the houses are very much the same, is my neighbor’s worth $XXX and mine is worth $45,000 less despite mine being an end unit with an additional bump-out?”

That is a very good question, and one that doesn’t have a good answer. The algorithm takes into account the taxes you pay and when the house last changed hands. If a house hasn’t changed hands in some time, the taxes generally are lower, and that would bring the “value” of that house down. That just doesn’t seem right, does it?

Next to this is an example of the “range” of value for one house I found. If a professional real estate agent walked into your house and told you they thought it might sell for somewhere between $391,000 and $740,000, would you feel comfortable that the agent knew your market?

How about the houses “for sale nearby.” Do these look like they belong together as a picture of a particular Towson community to you? They seem to be a random selection of homes that happen to be in the same zip code.

The biggest issue is the quality of the Baltimore Zestimates.

As you can see here, Baltimore Zestimates are within 5% of an actual sales price only 42.6% of the time. They are within 10% of an actual sales price 66.4% of the time. They are within 20% of a sales price 83% of the time. These are with a median error of 6.1%.

Think about what that means.

On a $400,000 sales price, the Zestimate may show $380,000 or $420,000 — but again, that is only 42.6% of the time.

To get above 50%, you have to go within 10% of the actual sales price. So on that same $400,000 house, a Zestimate 66.4% of the time will be from $360,000-440,000.

To get to the closer 83%, you have to bring that out to 20% of a sales price. That could drop the Zestimate down to $320,000. Would you as a Baltimore seller be happy with that if your house were truly worth $400,000? How about a homebuyer? Would a Baltimore homebuyer be happy to pay $480,000 for a house that is really worth $400,000? Probably not. And the buyer’s mortgage company most likely wouldn’t let it happen, because an actual appraisal would most likely be close to the true market value of $400,000.

And don’t forget — that is with a median error of 6.1%, or approximately $24,000 give-or-take, on that $400,000 house.

Real estate everywhere is LOCAL. Hyper-local even.

Baltimore real estate values can be different street-by-street!

For a true understanding of your house’s value, don’t count on automated valuation websites. Contact me for a true idea of you Baltimore house value. I’d love to help!

Would you like to know more and see additional Zillow issues in the Baltimore area? See my past posts on incorrect Towson Zillow Zestimates for details.

According to the Maryland Association of REALTORS(R) Action Alert about the reduction in tax deduction,

“Under the proposal, if a Maryland taxpayer’s federal adjusted gross income exceeds $100,000; single taxpayer’s itemized deductions would decrease by 10% when calculating Maryland taxable income – that’s an INCREASE in your Maryland taxable base! Taxpayers with adjusted gross income over $200,000 would see their deductions decrease by 20%!”

That is A LOT of money that 38% of Marylanders would lose!

20% of Maryland homes are already underwater, and this could bring values down further, as I talked about last January when the government wanted to remove the mortgage interest tax deduction across the US.

That bill was voted down, and now our state is trying it to reduce our deficit.

The Maryland Bill in discussion is Budget Reconciliation and Financing Act of 2012 (BRFA, HB 87/SB 152).

If you feel that the reduction in mortgage interest tax deductions could affect either you or your home’s value, this link should take you to the Action Center, where you can enter your information and email your upper & lower state chamber representatives.

I hope we can keep our Maryland real estate market on the upturn, rather than see it turn downward.

The new members need to sign up by Feburary 29, 2012 or the project will be terminated.

According to the Towson Patch article about the issue, the Club has $318,000 in funds raised by members joining, but in applying for a new loan, plus paying for an engineering contract, they need to secure more members to make it happen.

The cost, according to the paperwork from their website, is $1,975 per household plus $250 application fee and $275 initiation fee. The charter membership may be transferable when you sell your Towson home.

Summer fees range from $495 individual memberships to $685 family memberships, with lower Senior memberships also available.

The Towson Swim Club was originally slated to open Memorial Day 2011. It was then postponed to Memorial Day 2012 when a private investor backed out. Now the opening has been pushed back another year to 2013, and only if 135 new members join by February 29, 2012.

I do truly hope that West Towson homeowners can come together and get this pool financed. It would be a wonderful additional bonus to living in West Towson.

The five highest home sales in Baltimore County, according to MRIS, our local multiple listing system, included a few farms, and most had a large amount of acreage.

5. 905 Hayfields Rd, Cockeysville, MD 21030. $3,475,000. Listed and sold by Krauss Real Property Brokerage. This is a gorgeous newly-built home, that was finished around Summer 2011. Including the finished lower level, there are eight bedrooms, seven full and two half baths. It has 2.28 acres off a private drive, the home overlooking Hayfields Golf Course. Beautifully appointed, and spectacular views!

4. 2700 Butler Road, Reisterstown, MD 21136. $3,750,000. Listed and sold by Coldwell Banker Residential Brokerage. A “French Country Estate” home built in 2005, this is located up a hill and shared/private drive off Butler Road. Located on 53 acres, it has five bedrooms, 4 full and one half bath, and overlooks beautiful Worthington Valley.

3. 12757 Greenspring Avenue, Reisterstown, MD 21136. $3,900,000. Listed and sold by Yerman, Witman, Gaines & Conklin. This home was built in 1940, as is part of the “Vanderbilt Estate,” according to the listing. It is situated off a very private drive on over 138 acres. There are eight bedrooms, eight full four half baths. It boasts an in-ground pool, and it even has a bowling lane and full gym in the lower level!

2. 7309 Brightside Road, Baltimore, MD 21212. $4,200,000. Listed and sold by Coldwell Banker Residential Brokerage. This spectacular home was built in 1880, and has been gracefully and exquisitely restored. I have been in this house a few times, and it is truly gorgeous. It showcases 11 fireplaces (yes, 11!), seven bedrooms, six full and two half baths. It has 5.46 acres in the 21212 zip code!

And the highest sale in Baltimore County for 2011:

1. 2509 Butler Road, Reisterstown, MD 21136. $9,500,000. It was listed & sold simultaneously by Krauss Real Property Brokerage, which is why there are not many details or photos about the home. It is situated on 144.49 acres near the Falls Road Corridor, and looks to be a working farm, with rolling acres, animals, and convenient location. It has four bedrooms and seven full baths.

Much of Baltimore County real estate has been holding its’ own, despite the downturn in many areas. Each neighborhood is VERY different, so general overviews are not good indicators of your value. Contact me for more details on your Baltimore County house value. I would be happy to help!

This time 36 Baltimore County restaurants are participating!

Lunch and Dinner Prices will be  $10.12, $15.12, $20.12, $25.12, $30.12, or $35.12. You will need to check with the individual restaurants as to their pricing.

Participating Towson restaurants are 7West, Cafe Troia, The Melting Pot, and Razorbacks.

Parkville restaurants include Pappas and McAvoys.

There are a number of Timonium restaurants involved, including Basta Pasta, The Charred Rib, Christopher Daniel, Liberatore’s (as well as their location in Perry Hall), Michael’s Cafe, Pasta Blitz, The Peppermill, and Tark’s Grill.

Cockeysville and Hunt Valley restaurants are represented by Barrett’s Grill, The Oregon Grille, and Patrick’s Restaurant and Pub.

Northern Baltimore County showcases the Milton Inn in Sparks, who first began Baltimore County Restaurant Week in summer 2010, Friendly Farm in Upperco, and the Grille at Peerce’s in Phoenix.

There is a great group from East Baltimore County in Dundalk, Essex, Perry Hall, and White Marsh.

There are a number also from the West Side of Baltimore County, with those in Owings Mills, Catonsville and Pikesville, as well as Randallstown, Glyndon, and Randallstown.

Here is a full list of the participating restaurants.

Baltimore Restaurant Week Winter 2012 is January 20-29, so they overlap for two days. So enjoy good eats in Baltimore County and then head to Downtown Baltimore for more!

Tree pick up will begin the week of January 9, 2012, and to ensure your tree is taken, it must be placed at the curb by January 14.

PLEASE NOTE that the Department of Public Works will not be collecting from alleys, so if you live in a neighborhood like Rodgers Forge, where trash is generally collected from the alley, your tree needs to be placed in front of your house at the curb.

Baltimore County officials also caution us to make sure that there are no decorations on the tree, it is not in a bag, and no tree stand attached, so if you have tinsel or anything of that sort, it must all be removed before placing out for collection.

If you would like your tree removed earlier, or should you miss the collection, you can also take your tree to one of three places in order to have it recycled & made into mulch. Tree drop off begins December 27, 2011.

Those three locations for drop off are: Baltimore County Resource Recovery Facility off Warren Road in Cockeysville, Western Acceptance Facility in Halethorpe, and Eastern Sanitary Landfill Solid Waste Management Facility in White Marsh off Pulaski Highway.

So, if you had a real tree for Christmas, just make sure to have it taken down by the 9th to ensure it can have a second life as mulch for the County!

Happy New Year!

**Click here for Baltimore City Christmas tree pickup details!**

This Saturday, December 3, 2011 from 6-8pm, enjoy Santa’s arrival by fire engine to Olympian Park, see the official Baltimore County tree get lit, celebrate the season, and begin an exciting month in Downtown Towson.

There will be free hot chocolate, cookies, and musical performances! The tree will be lit around 6:25pm, and Santa and Mrs. Claus will arrive shortly after, heading to their workshop for good times and photos with kids. (Make sure to bring your own camera for photos with him!)

The Towson Chamber of Commerce has a lot of fun activities planned for the holiday season. Here is a list of everything they have set up for December!

So bundle up & enjoy Downtown Towson on Saturday evening for some good cheer. It should be fun!

According to a Washington Post rundown of the changes, a major one is the “spot approval” that used to be acceptable to be eligible for an FHA loan. Another article goes more in depth on the issues this is causing for condo home sellers.

The agency eliminated spot approval earlier this year. Now, any condo buyer with an FHA loan must stick to an FHA-approved building. A lender, developer/builder, homeowners association or management company can submit a package to the FHA seeking approval. The change was part of a broader initiative to tighten FHA condo policy. Some elements of that initiative have been temporarily loosened through Dec. 31 to try to stabilize the condo market.Why? Condos are widely considered the market’s shakiest segment because they are popular with speculators and financially vulnerable entry-level buyers. A lot of foreclosure-related losses have come from condos, which is why industry policies have forced lenders to look more closely at the makeup of entire complexes before extending loans.

Without that FHA approval, it ties the hands of many buyers, as most would then need more money for a downpayment, which they may not have.

I did a quick spot check on Timonium condos on the HUD site where you can review FHA condo approval statuses. I was sad to see how many had expired, leaving any sellers in those buildings at a disadvantage! Of the 23 Timonium condo communities that came up when I searched 21093, 16 of them have expired. Here is a pdf of the Timonium FHA condo statuses as of today.

I have written much about the FHA Condo Recertifications, because we have so many Timonium condos that are now affected by these changes.

This is not good news, and I hope that the associations are working toward their re-certifications, though I understand across the US that many have tried and been denied over technicalities or other issues, and that the penalty for a director providing incorrect information (even if in error) faces $1 million in fines & up to 30 years in jail, so many are not willing to take on the risk.

Hopefully there will be another resolution on this matter, so affected condo owners aren’t hurt more by the inability to sell to FHA homebuyers.

Though technically it isn’t until Monday, there are plenty of things to do this weekend for Baltimore Halloween fun!

• At Hunt Valley Towne Centre, kids can trick-or-treat on Friday evening from 4-6pm. Children can come in costume and get some treats at the shops on Main Street off Shawan Road in Hunt Valley!
• The Towson Town Center mall will have a festive Halloween celebration on Saturday the 29th at 11am at the Level 1 Grand Court. They will also have mall-wide trick-or-treating on Monday the 31st from 6-8pm at participating stores for children aged 12 & under. More details on their site.
• ZooBOO! at the Baltimore Zoo / Maryland Zoo in Baltimore — 10 am – 4 pm Friday 10/28 – Sunday 10/30. Come in costume, visit the animals, plus free trick-or-treating, carnival games, inflatable slides, crafts, and live entertainment, including magic, mini-theatre, and costume contests! The event comes with your Zoo admission. Costume contests are at 11:30 & 2:30 for kids under the age of 12. There are special events with many of the animals throughout the day, so make sure to visit their website for more details.
• Port Discovery is celebrating Baltimore City’s Kids Month on Saturday from 10am-5pm for FALL-O-WEEN Festival. Activities include making your own tutu or mummy, wildlife adventure, Halloween drum jam, a moon bounce, performances and more! Visit their site for more details.
• Hallowmarine is at the National Aquarium in Baltimore from 10am-4pm on Saturday. Come in costume, there are many spooky events, including a Haunted Classroom! Aqua.org for more info.
• The Great Lantern Parade in Patterson Park is *NOW SUNDAY, 10/30 due to weather!* Saturday October 29 at 7pm. There is a pre-parade Great Lantern Parade Fall Festival from 3-6:30pm. Here is their blog with more details.
• Weber’s Farm in Parkville — Really fun Hillside Slide, pumpkin picking, scarecrow making, hay maze, “Boo Barn”, farm animals, hay ride & more. $7 admission for children, $5 for adults on weekends. Open from 9:30am-6:30pm!
• Valley View Farms in Hunt Valley is open from 7am-9pm and has its’ fantastic Halloween Display, a free haunted house, and straw maze for the younger children. We did this last weekend, and our son had a blast. They even have facepainting inside — and the main building is already their Christmas wonderland!
• Huber’s Farm in Kingsville is open 9am – 5pm and has pumpkin picking, a kids area for $5 per hour, and at night from 7:30-10pm, Creepywoods, a scary haunted wooded attraction, which is supposed to be very intense, and was named one of “America’s Best Haunts.”
• Hampden HalloweenFest — 5pm-7pm on Sunday, October 30– Trick or Treating at participating stores on the Avenue, Chestnut Avenue, and Falls Rd. 6:30 is a costume contest in front of Ma Petite Shoe on 36th St. Sponsored by the Kiwanis Club of Hampden.
• Kim’s Krypt is in a new location in 2011 on Eastern Avenue in Essex. It is open from 7-10:30pm Saturday through Monday — another haunted adventure. The “krypt” is indoors, while the line is outside.

So, as you can see, there is plenty to do for Halloween in Baltimore. I am sure there are many more — what events do YOU know of & can share?

Have a safe and Happy Halloween in Baltimore!

Weber’s Farm and Huber’s Farm are two popular locations.

Visit the Cow at North Run Farm

One I just discovered is North Run Farm near Stevenson University.

My son had his class field trip there today, and there are many fun things to do!

The maze this year is wild — a huge crab — that our entire group proceeded to get lost in.

The kids loved the animals, and even the adults learned something new. Did you know that cows love to eat pumpkins? (We didn’t!)

The farm is open Friday 12-6pm, Saturday & Sunday 10am-6pm through November 6, 2011.

Admission includes a hayride, the farm, including the animal farm, a hay play area, a hay tee pee, corn sandbox, mini hay maze, and more. Add the big maze for just $1 more! Visit their website for more details.

We really had fun at the field trip. I will give you a few tips.

1) If there has been rain in the past week, wear BOOTS. The maze & pumpkin patch will be muddy — and two days after rain there were still large, muddy puddles!

2) The port-a-potties were pretty yucky this late in the season. Bring wipes & toilet paper – and be prepared to hold your breath!

3) Bring hand sanitizer – things can get messy!

4) There is a stand with some good looking food & drinks –bring cash!

5) The entire operation only accepts cash, so be prepared to bring some for pumpkins, food, and other produce & goods you may want to get.

Lastly, enjoy!

North Run Farm is run by Rodgers’ Farm and is open usually Friday-Sunday from the middle of September through the first weekend in November. Field trips have additional time openings.

North Run Farm is located at 1818 Greenspring Valley Road, Owings Mills, MD 21117.