West Towson Elementary School Boundaries Meeting March 10 and West Towson Homeowners

On March 10, the Baltimore County Board of Education had a final meeting before their March 23 vote on the boundaries of the new West Towson Elementary School.

This meeting, unlike the one in January, which had hundreds of attendees with many speaking about the boundary options, this one had very few, and only four Board of Education members available.

Loni Ingraham of the Towson Times covered the hearing, and described it as very tame in comparison to other sessions.

The scenario that has been recommended by the panel for the vote is the West Towson Scenerio G, as depicted in the 4th page of this document provided by Towson Families United.

It is a relief to have these meetings behind us and will be nice to be able to move forward, knowing where children will be attending school in the fall. Most West Towson homeowners were in the same position as my family, where in any of the scenerios, our district would be changed to the West Towson Elementary School, so we were not as affected as others.

I can understand the irritation and passion over where someone send their child to school, but redistricting can ALWAYS happen, and at least the Baltimore County Board of Education gave Towson residents the opportunity to have their voices heard.

This redistricting is part of why Maryland Realtors® are not allowed to talk about the quality of schools when helping someone with the purchase or sale of a home. Most also recommend calling your local school board or looking online (like www.bcps.org for Baltimore County Public Schools) to find a school district. You cannot safely choose a home solely because of a school district because you never know when the attendance boundaries might be changed.

Top Four Inside Secrets To Selling Your Home in This Buyer’s Market

Gary Keller, the owner of the company I work for, Keller Williams Realty, was interviewed this morning along with a few agents on Good Morning America about HOW to sell your home in this market.

These tips hold true in the Towson real estate market as well as others across the US.

Tip #1: When Pricing Your Home, Don’t Try to Make Money. If a similar house down the street is on the market for a certain amount, list your home just under that amount. Buyers will perceive your home as a deal, and will more likely move on yours versus others on the market.

Tip #2: Don’t Be Lazy When It Comes to Presentation. Staging is a great way to get your home to look its best. Remember, once you decide to sell your home, it is no longer *your home*. The goal is for it to be someone else’s! A Staging Professional is a good investment along with a REALTOR(R). As Gary Keller said, “Price gets you interest. Staging gets you offers.”

Tip #3: Some Photos are Priceless. When listing in winter, especially when you have feet of snow still to melt like here in Towson, share any photos you have of the yard, landscaping, etc, from when it is nice out with your real estate agent. Your agent can incorporate these into their marketing of your home. You know how great your yard is to enjoy, but when others can’t see it at the moment, they don’t know what a difference that makes in your home versus another. With these additional photos, it could make the difference.

Tip #4:Don’t Be Cheap When It Comes to Fixes. Have a faucet that drips? A floorboard that squeaks? A carpet that needs replacing? DO IT. Have older appliances? Buy new ones. Yes, new ones. They don’t have to be expensive, but more modern helps to sell!

I disagree with Tip #5 because my buyers find it extremely uncomfortable when the owner is home, and I find that they tend to not take the house seriously if the seller is there. It is good to have brochures and photos there to share information about your home, and your agent is an important facilitator in this process in speaking with the buyer’s agent and getting buyer’s questions answered. But do NOT be there for showings. Buyers want to open cabinets, closets, and feel like it could be their home. If you are there, they can’t imagine themselves as the owners there.

I hope Towson home sellers find this information useful as they prepare to sell their homes. Please contact me to help you further!

Stoneleigh Real Estate – Avondale Road

Stoneleigh has always been a very popular area when it comes to buyers looking for older homes in an established neighborhood.

Currently, there are five homes for sale with an average list price of $573,780. Two of these homes are on Avondale Road, a very small street connecting Stoneleigh Road and Kingston Road.

6901 Avondale Road is on the market for $539,000. It has a redone kitchen with stainless appliances, and is deceivingly larger than it appears from the front. Room sizes are very generous, and the home is very charming!

6905 Avondale Road is on the market for $564,900. It has a large family room off the back and also has a redone kitchen with stainless appliances.

Avondale Road is such a pretty street located in the 21212 Stoneleigh neighborhood.

Stoneleigh has much to offer, with an elementary school in the community, a swim club that Stoneleigh homeowners can join as a benefit to living in the neighborhood, and old, established homes.

The Stoneleigh Community Association is very active in keeping the integrity of the homes and the neighborhood, so no exterior changes can be made without prior approval of the Board. The Association also oversees the pool, the Citizens on Patrol, the tree replantings, recycling efforts, and the social events of the community.

If you would like more information on these two homes on Avondale or any other home in Stoneleigh, please contact me today!

21204 Towson Home Sale Statistics 2009 Year In Review

Reviewing the 21204 zip code sales, contracts and listings for December of ‘08-December of ‘09, there are many interesting variations throughout the year.

The good part for the owners of Towson homes in the $500,000 and higher range, is that finally these seem to be selling! 11 properties in December went under contract with a median price of $500,000. 14 properties settled in the same time period with that same median price.

The graph through the rest of 2009 has shown that houses have been consistently selling, but that the average sales price was under $400,000 (some months by a large amount).

Other good news is that sales and prices are up a tremendous amount over the same time period at the end of 2008, showing that Towson and 21204 seem to be in a recovery & stabilizing mode.

Click here for the full report.

I am excited to see how January’s numbers look, because I have been seeing quite a number of higher priced homes in 21204 going under contract since the beginning of a year. I will update you when those numbers come out!

Update on Questions on Homebuyer Tax Credit for Married Couples

When the Homebuyer Tax Credit was extended to include long-time homeowners buying new houses and getting a $6,500 credit, a whole new group of questions came into play.

Unfortunately for a few clients of mine (and I am sure many others out there), the answers were not what they were hoping.

• One person owns a house that s/he has lived in for 5 out of the last 8 years. S/he got married in 2009, and the partner has never owned a home. Do they qualify for either credit? Unfortunately, according to the IRS, NO. From the IRS site below, the answer:

A. No. Both you and your spouse must be first-time homebuyers in order to qualify for the first-time homebuyer tax credit. Since you had an ownership interest in a principal residence during the three-year period ending on the date of purchase, neither you nor your spouse qualifies for the credit. Similarly, both you and your spouse must be long-time homeowners of the same previous principal residence in order to qualify for the long-time resident homebuyer credit. Since your spouse is not a long-time homeowner of your current principal residence, neither of you qualify for the credit.

 

• A newly married couple each has owned their own personal residences for 5 out of the last 8 years. Do they qualify for the $6,500 credit? Also, unfortunately, NO. They must have owned the SAME residence together for that time period. From the IRS site below:

A. No. Both spouses must have owned and used the same previous principal residence for five consecutive years out of the eight-year period ending on the date of purchase of the new principal residence to be eligible for the credit. Since you and your spouse owned and used different principal residences, neither of you qualify.

If these couples were unmarried, and co-buying a new house, they would qualify.

For people who are planning to buy something in 2010 and were counting on that tax credit, this is not very helpful. That being said, if you have a house to SELL, you need to keep in mind that the buyers of the house you are SELLING may still qualify, so you should try to sell while people will still be buying.

Many times sellers forget how these credits may impact the sale of their home, because they are only indirectly affected. My thoughts are that if you are considering selling your Baltimore or Towson home in 2010, get the sale in BEFORE the credit runs out. With the number of days on the market averaging 60-180 in some areas of Baltimore and Towson, then that means getting your home ready to sell NOW!

Towson Residents Help Determine West Towson Elementary School Boundaries

Over 300 people attended the meeting at Loch Raven High School last night about where the boundaries may be drawn, and which children in Towson may be redistricted to the new West Towson Elementary School.

The Towson Families United group, which is “A coalition of parents and residents seeking a long-term solution to Towson’s overcrowded schools”, reports on their site that four different options were presented, and then the attendees were split into smaller groups to discuss what factor was most important to them in making a boundary change, and each individual was asked to choose which of the four they would prefer to see. The data collected will be sent to an independent research facility for analyzing and the results sent to the committee for further review.

The boundary committee making these recommendations to the Baltimore County School Board is run by Central Area Assistant Superintendent Barbara Walker, and is comprised of parents, community representatives (for example, there is one from the Ruxton Riderwood Lake Roland Improvement Association and one from the Rodgers Forge Community Association) , teachers, and Administrators.

A formal recommendation will be given to the Baltimore County School Board by school officials on February 9, 2010 at its regular Board Meeting. After that point, another meeting will be held for public commentary on February 24, 2010 at Loch Raven High School.

The final decision will be announced March 9, 2010 at 7:00 pm.

It is wonderful that Towson residents are given this opportunity to voice their opinions and be such a large part of this large decision making process. It makes it more and more prevalent why living in Towson is such a great thing!

Happy New Year 2010 Towson Real Estate Market Thoughts

As I sit here and reflect on 2009 and enjoy the beginning of 2010, I am reminded at what a new year can bring.

There is always a sense of excitement — that a new year can mean great things.

What will happen in the Towson real estate market? Will it rise? Will it fall? Will it stay at its’ teetering stabilization point that it has been in? I think we will remain about where we are — I don’t foresee a jump, but I think our neighborhoods are strong and prices will remain strong.

What about the real estate market in general? A few economists, like the National Association of REALTORS (R) economist, think there will be about a 10% increase.

I tend to be cautious in my optimism, and think we still have a large number of short sales and foreclosures coming down the pike in 2010, which will drop values lower, or keep them at the lower prices we are seeing now. I truly don’t foresee a real true recovery until 2012.

What does this mean for Towson sellers? That your homes are still worth a great amount because our area has been stabilized. That being said, they are not worth what they were even two years ago, so you can’t think about those prices when considering selling your home.

What does this mean for Towson homebuyers? BUY! It is a GREAT time! Interest rates are still very low, and prices are much lower than they have been in years.

For a true value estimation of a Towson home as a homebuyer or seller, or to find if this is the right time for you to move, please contact me – I am happy to help!

New Maryland Property Tax Assessments to Average 19.7% Lower Value — What This Means for Towson Homes

The new tax assessments for the State of Maryland are due to come out in the upcoming days, and the state’s assessment office says it will show an unusual thing — a drop of an average of 19.7% in value since 2005-6, the last time many of these homes were assessed.

What does this mean for Towson Homeowners?

Not much, unfortunately.

Your taxes will not be lowered, as Maryland still needs your money.

Also, the way assessments are structured, even if your value had jumped UP tremendously, the taxes would only rise a capped amount. The 19.7% drop does not lower the value enough to restructure your property’s tax rate. In most cases, unless you bought your home in the last two years, your taxes will still rise.

Larry Carson of the Baltimore Sun wrote a very detailed article explaining the drop in values but not in taxes owed.

Towson has not dropped in value as dramatically as some areas, so I do not expect to see that percentage here. I will be curious to see what Maryland now has my Towson home assessed to be versus its true market value.

Tax assessments are not actual market values of a home, so be aware of this. If you would like a true market value range for your Towson home, please contact me, and I will be happy to give you an approximation of market value!

New Baltimore County Carbon Monoxide Detector Law for Rental Units

The Baltimore County Council voted unanimously on legislation to require Baltimore County rental property owners to install carbon monoxide detectors in all units that are heated by fuel-burning units and those directly attached to enclosed parking areas.

This comes on the heels of 1,355 fire department responses to carbon monoxide calls in 2008, and the Baltimore County Fire Department expects that number to be above 1,400 for 2009.

Baltimore County rental unit owners will have eight months to comply with this new law, which begins 45 days from its signing on December 21.

The Baltimore Sun’s Mary Gail Hare reported on this new legislation in an article today. Here are more details on the law:

Landlords must also provide information on alarm testing and maintenance to at least one adult tenant of each unit. The tenant is responsible for maintaining the device and for replacing its batteries.

Property owners who violate the new ordinance would initially receive a correction notice, but no fine. Failure to comply after the notice would authorize the code enforcement inspector to impose a fine of $200 per day for each day the violation persists.

Carbon Monoxide Detectors are a good idea for homeowners in Towson as well, as many homes have natural gas or oil burning heat. I personally just ordered one for my house, because a friend recently had her alarm go off, thank goodness, as their boiler had failed, and CO2 at unsafe levels entering their home. They have an infant and a toddler daughter. Luckily with the alarm, they spent the night out of the house and with the boiler fixed, were able to return home safely. She credits the detector with saving their lives.

You can find Carbon Monoxide Detectors at many stores, the prices ranging from $30-$60.

A worthwhile investment for your family, and now a required investment for many Baltimore County rental unit owners.

Loch Raven Village and Knettishall in Towson Gems in Baltimore Sun Article

A few month back, I received a phone call from Jamie Smith Hopkins of the Baltimore Sun because she knew I know Towson real estate very well, and had sold homes in Loch Raven Village and Knettishall.

Jamie was putting together a series of articles called “Hidden Gems” about areas in Baltimore County and City that were in high demand areas — but not high demand prices.

Part of the criteria was that the median sales price had to be under the “affordable housing” line of $250,000. The buyer’s market of today has put Loch Raven Village and Knettishall in that range.

I was quoted a few times in the article, (thank you Jamie!), and I think she got a great feel for the neighborhood from a few different perspectives. Please read Jamie Smith Hopkins’ Baltimore Sun article about this Hidden Gem of an area!

There are many things that I love about Loch Raven Village and Knettishall. The homes are brick, well built, and generally beautiful. The streets are lined with trees and are so inviting. Its location in Towson and Parkville is convenient for both driving and public transportation. Shops are close by — the newly refurbished Towson Place, the nearby redone Towson Town Center, the Loch Raven Boulevard shops…it is all right there.

I recently sold one in the neighborhood on Aberdeen Road on the eastern side of Loch Raven Boulevard in Parkville. I know the neighborhood well. If you have any questions or would like to sell your Loch Raven Village home or buy one and take advantage of the $8,000 tax credit or $6,500 tax credit, please contact me today. I would love to help!

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