Upbeat Housing Outlook 2012

USA Today reports that economists, banking and building executives are thinking optimistically of the real estate market in the coming year, and that the housing industry may be finally close to hitting the bottom.

The article does clarify, though, that prices are still expected to drop in many areas, but there should be more home sales, and more houses being built, which are usually indicators of the beginnings of a recovery.

The reason prices are expected to fall in many areas would be due to the large number of foreclosures still out there. Many were delayed because of the “robo-signing” scandal last year, but will be moved forward this year.

The economy is an important piece in the housing recovery. Last month, the unemployment rate dropped to 8.5%, and 200,000 jobs were added. These are good signs for the economy, and housing usually follows economic recovery.

There are many factors that affect the housing recovery, and Baltimore real estate is extremely local. Some neighborhoods, like those I’ve noted in Towson home sales in December and Timonium December home sales, have seen some increases or at least stabilization.

Real estate is extremely local — as much as street-by-street or neighborhood-by-neighborhood.

To find out where your Baltimore house currently stands in the housing recovery, please contact me. I would be happy to help!

Mays Chapel Condo for Sale

Mays Chapel offers condos, townhouses, and apartments as a planned-unit community built by Keelty.

One fantastic Mays Chapel condo for sale is 12204 Burncourt Road #301.

This third floor unit is amazingly clean, well maintained, and loved. This building is one of the few that has front-to-back units, meaning you get trees and privacy in the back, plus you can have a cross breeze from the front!

Don’t miss this beautiful third floor Mays Chapel Condo with cathedral ceilings and private feel! 12204 Burncourt Rd #301 is superb!

This Month in Real Estate July 2011

This Month in Real Estate for July 2011 has been released!

First, as always, Jay Papasan discusses the numbers:

Home sales dropped a little to a pace of 4.8 million home sales for the year, versus the 5.1 million they were averaging per June 2011′s This Month in Real Estate. The median home sales price is up to $167,000 from last month. The average rate for a 30 year fixed rate mortgage, according to Freddie Mac, was about 4.5%, down .1% from last month.

Then, Jay talks about the top three technology tools that agents use to help clients buy and sell real estate.

First is email: Almost 2/3 of agents use email to get properties in front of perspective buyers.

Second is personal websites, like mine, realtormarney.com.

Third is national websites, like realtor.com, where I have enhanced listings!

This indicates that real estate is still very local, as we know from the sales numbers differing even within zip codes!

In News You Can Use, Byron Ellington talks about the three ways to get your home sold — even with new and inventive ways to market your house.

1) PRICE IT RIGHT. Know what the trend is. Are prices rising in your neighborhood? Dropping? What has been happening over the last year? Price ahead of the market, instead of chasing it.

2) Consider a Pre-sale Inspection to be able to address issues with the house.

3) If you have multiple offers, consider all factors, not just price!

Contact me for more details about the technology and techniques I use to to sell Timonium houses. I would love to help you!

12204 Burncourt Rd #301 – Mays Chapel Condo
Timonium, MD 21093 – Offered at $215,000.
Withdrawn from the Market

• Download the Brochure (PDF)
• Schedule an Appointment
• Ask a Question

Explore this wonderful Timonium condo for sale at $215,000…

• Main Floor
• Neighborhood

Mays Chapel Condo in Timonium, Maryland

This condo, built in 1997, is located in the Burncourt Condominium community in Timonium, Maryland in Baltimore County. This condo backs to trees and is on a street with other four level buildings.

Located just across Roundwood Rd from the Mays Chapel Pool, and around the corner from the Roundwood Shopping Center and a very short distance to 83N and South, this home is very convenient!

Main Floor

 

Neighborhood: Timonium Real Estate in Baltimore County

The Burncourt Condominium community is located in the Mays Chapel North planned unit community, off West Padonia Rd in the 21093 zip code.

Mays Chapel North is home to the Roundwood Shopping Center, which has a Graul’s Supermarket, Graul’s Wine Shop, a hair salon, called The Salon at Mays Chapel, a Rite Aid Pharmacy, and Restaurant Sabor for fine casual dining. The Mays Chapel Pool offers a banquet room for rent for parties and events.

Timonium is convenient to highways for access to Downtown Baltimore as well as up towards Pennsylvania. It is an ideal location for many! Join the numerous happy Timonium homeowners. You’ll be glad you did!

12204 Burncourt Road #301 Timonium, MD 21093

12204 Burncourt Road Unit #301 is a gorgeous condo in Mays Chapel North.

Located in one of the few buildings that runs front-to-back, this condo can get a cross breeze, and you have the privacy of trees behind. Sitting on the porch feels like sitting in a tree house!

Well maintained and upgraded, this one is spectacular. Cathedral ceilings in the living room and master bedroom make for an open, airy space.

Only six units in this building — and only two on this floor!

Look for the 12204 Burncourt Road #301 Timonium website coming soon.

Meanwhile, here is a link to photos and details:

 

 

 

Don’t miss this beautiful condo for only $215,000!

Baltimore FHA Loan Limits May Drop in Fall

FHA loan limits across the United States had been set at a higher level to help the housing market from further decline, and in September 2010 that was extended through September 2011.

The current loan limit in Baltimore County, Baltimore City, and Harford County is $560,000 for an FHA loan. This means that you can get an FHA loan of up to $560,000 for a house in Baltimore.

If the loan limit extension is allowed to expire, then that limit will be dropped to $494,500 (a drop of $65,500!)

When I think of the Timonium housing market, or Towson house values, many homes are in the $450-550,000 range, and if this extension were to expire, those from $500-560,000 no longer would qualify for FHA financing, which could hurt homesellers in a big way.

Many Towson homebuyers do not have a large percentage to put down on a home, and would need the low 3.5% downpayment program that FHA has to offer. If the loan limits drop, this could bring house values down. How?

Here’s a possible example:

Today, you meet with a REALTOR(R), and after meeting, you determine that your house is worth around $525,000. A qualified buyer using FHA secured financing can currently buy your home.

As of October 1, 2011, that same buyer would not be able to buy your house. What do you think would happen? Might their best & highest offer be $494,500, then, since they need FHA secured financing?

So what can you do? Read more details and information about the bill from the National Association of REALTORS(R). Find out who your local representatives and senators are here, and make your voice heard. Tell them that “H.R. 1754 has been introduced in the House by Reps. Miller (R-CA) and Sherman (D-CA) to make the current limits permanent. No similar bill has yet been introduced in the Senate” and that this bill needs to pass!

Pot Spring Development Must Conform to Current Zoning

There is good news for the homeowners near the Pot Spring and Old Bosley Rd intersection, where a 33 home development had been proposed, and almost presented to the Baltimore County Council.

The lot is currently zoned for 13 homes, while the larger development would have been designed for a 55+ community, adding another 20 homes to the current zoning.

The potential Pot Spring development caused an uproar in the community, because of the additional traffic, drain on resources, and lack of parking would have caused issues for the currently standing communities.

Councilman Todd Huff was ready to propose a change in zoning for the planned unit development, but listened carefully when his new constituents came to him.

The Pot Spring community is located just north of Timonium in Cockeysville.

They are, I am sure, feeling more confident that their Cockeysville house values shouldn’t be compromised by a development not suited for the area.

2119 Kimrick Place – Valleywood Townhouse
Timonium, MD 21093 — Offered at $329,900.
**SOLD**

**SOLD**

UNDER CONTRACT ONLY 12 DAYS ON THE MARKET!**

• Download the Brochure (PDF)
• Schedule an Appointment
• Ask a Question

Explore this wonderful Timonium home for sale at $329,900…

• First Floor
• Second Floor
• Finished Basement
• Exterior
• Neighborhood

(Click on Any Picture to Enlarge)

Valleywood Townhouse in Timonium, Maryland

This townhouse, built in 1979, is located in the Valleywood at Five Farms community in Timonium, Maryland in Baltimore County. A court location backing to trees and up from another quiet street of houses, this home is ideal!

Located just across Timonium Rd from Valley Field North Park where there is a playground and fields, and a very short distance to 83N and South, shopping, and York Rd, this home is very convenient!

First Floor

Second Floor

Lower Level

Neighborhood: Timonium Real Estate in Baltimore County

The Valleywood at Five Farms community is located off West Timonium Rd at the intersection of Thornton Rd in the 21093 zip code.  The three streets that make up the community are non-through streets, so traffic is minimal! It is a tucked away suburban oasis close to shopping as well as larger communities.

Timonium is convenient to highways for access to Downtown Baltimore as well as up towards Pennsylvania. It is an ideal location for many! Join the numerous happy Timonium homeowners. You’ll be glad you did!

Guest Post in Baltimore Sun Online

I was honored to be asked by the esteemed Real Estate Wonk, Jamie Smith-Hopkins, to be her first guest post for her Baltimore Sun blog.

Jamie’s posts are always insightful, chock full of information, plus great statistics and details interpreting the data.

Should this post be well received, I may be doing more in the future.

Today’s Baltimore Sun Real Estate Wonk column was about what to do to sell your townhome in Timonium, as I currently have listed two of the 43 townhouses for sale under $400,000 in the 21093 zip code.

In researching the area in detail, and realizing the depth of the number of houses competing for the same buyers, I realized I needed to help my sellers understand the market on a whole new level than ever before. Thus began the blog post. I am hoping this helps sellers best prepare their house for sale.

Homes need to be clean, neutral, and priced well. Remove clutter & consider staging. A buyer needs to be able to see themselves in the home. Remember, once you’ve decided to sell your house, it is no longer your home. Your goal is to have it be someone else’s!

I hope you will enjoy my Baltimore Sun post, and if you have Timonium real estate needs, contact me!

Development at Pot Spring and Old Bosley Rd in Timonium

The development of the acreage at the corner of Pot Spring Road and Old Bosley Rd in Cockeysville near Timonium had its’ plans halted on Thursday, as new Councilman Todd Huff postponed his consideration of the development.

The land is currently zoned for 13 homes, but the developer, Jeffrey C. Kirby, wants to build 33 attached homes for a 55+ community. Over 200 residents came out, many to oppose the resolution last Monday at a meeting, and the work session was scheduled for tomorrow, February 1, 2011. The Baltimore Sun reported in an article on the development’s postponement. This was just one step of many that would have to be approved before the project were to be able to continue.

The lot’s location is the wooded area behind the Lake Apartments on the left side of Pot Spring, south side of Old Bosley Road.

View Larger Map

The proposal is in limbo right now, but not withdrawn or canceled.

Many of the neighbors are concerned with the change in the current zoning, and the traffic issues that could be caused by an additional 20 homes than zoning currently allows for the land. To the west of the proposed development is an already highly developed area of Cockeysville homes.

I will stay tuned as the changes in development continue!

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