The Gwynns Falls Trail

The Washington Post wrote this weekend about the Gwynns Falls Trail, calling it A Trail Full of Charm in Baltimore. The trail has its own website, which you can visit to learn more. It runs from Northwest Baltimore to the Inner Harbor through some lovely areas. It'll also, if you keep an eye out, introduce you to some great neighborhoods along the way!

East Baltimore Redevelopment Advances

The Baltimore Sun reports that a group of developers has snapped up the old brewery on Gay St. Anyone driving Gay street has certainly wondered about the beautiful old building. With any luck, the neighborhood around it will benefit from the work.

B of A offers No Fee Mortgage

For those buying property and looking to reduce down payment and closing costs, Bank of America is offering a "No Fee" mortgage. They assert that with the exception of the taxes, "prepaids", and insurance, there are no fees - and the interest rate is competitive. Is it for real? Who knows. I'd love to see others follow suit, though! In my mind, it is a real indication of changes in the mortgage market. It indicates that despite the perceived housing slowdown, banks are still competing in siginificant ways to try to drive loans.

Tracking the Price

Every month, we eagerly await the publication of the previous month's home sale prices. In April, the region's prices rose slightly, while Baltimore's fell a tiny bit. $3,000, on average, to be exact. The argument is, this is significant because it's the first drop in "more than four years." I'm not sure how significant it really is. People have been talking gloom and doom for months - and prices have continued to rise. While inventories rose, prices were still climbing. It was somewhat inevitable that at some point, the scuttle would catch up with reality ... especially in Baltimore City. In the end, Supply and Demand will do its thing. This does not even discuss the impact of fewer subprime loans, something I suspect will have a greater impact on Baltimore than most places.

Should sellers rethink selling a home now? Perhaps, but probably not. Many factors go into deciding whether to sell a house. If total sale price is the only measure, then perhaps waiting might be a good thing. Then again, these sales are really January and February offers ... so they may not actually reflect the market -today-. Even more, that last $3,000 should not deter most sellers. We move for lots of reasons, and we have to keep the $3,000 in perspective. Often it's in the scope of $20 or $30,000. It's a lot of money, but if it means a longer commute, higher electric bills, or other economic impact, it may come out in the wash. If the property is an investment property, the money should be considered with the tax impact rolled in.

Elections Drive Real Estate Market

This morning's Turkish Daily News reports that in Istanbul, the upcoming presidential elections are driving the real estate market. Given the ongoing lengthening of the US campaign cycle, I can only imagine how this trend would impact the US market, were it to exist here!

Shared Driveways

Last weekend, the Washington Post ran a story about the hassles of sharing a driveway. I've spent a bit of time since then thinking about it. We share a driveway with our next-door neighbor. It's never really been a problem. When it comes time to replace it, I guess it would be easier if it were 100% mine and I didn't need to cooperate... but since when did sharing become a big deal?

Maybe living in Baltimore gives me a different perspective. Here, we feel lucky to have a driveway and off-street parking. We really don't have room to have our own driveway - it would just eliminate what little yard we have. Do we have hassles with the neighbor? Nope. We try to be considerate; she is incredibly considerate. Occasionally her contractors park behind my car & I have to ask them to move. They always do so without so much as a grumble. It's just never been a problem.

Finally, we should remember that driveways are impervious surfaces... water runs off of them and into the sewers, contributing to run-off problems ultimately impacting the Chesapeake Bay. Anything we can do to reduce these areas, providing more land where water can soak in, is a "good thing".

Disposable Homes

When moving into an older house, the question of what to keep and what to replace is constant. Many items, like hardwood floors, we work to preserve. Others, such as old roofs, we tear off and replace. The Washington Post wrote this weekend about the lifespan of "house parts". I don't agree with all of their lifespans - boilers can easily last 30-50 years - but I think it's a helpful starting place. It's a good reminder that many items can be salvaged and refurbished, rather than replaced. Finally, if we're going to get rid of things before their life is up, we should consider donating to groups such as Baltimore's Loading Dock.

Brooklyn Park Arts District

Baltimore's Brooklyn neighborhood has long been one of my favorites. Sitting at the southern edge of the city, south of Federal Hill - across the river and across I-95, it's incredibly accessible and a great little neighborhood. Like many areas, it has its good parts and its bad parts. It has a nice little commercial district, that should have good potential in days to come. It has several blocks of very nice homes adjascent to the Anne Arundel County line. Slip into Anne Arundel County and you're in the Brooklyn Park neighborhood. Apparently, an arts district may be in the works in Brooklyn Park. This would be great for the area and will likely further propel Brooklyn into Baltimore's list of stable neighborhoods.

BRAC in Baltimore

From the day I heard about BRAC's potential impact on the Baltimore region, I began thinking about how much impact it might have on Baltimore City specifically. While folks in Anne Arundel and Harford County started talking right away about whether they had the infrastructure, I figured Baltimore City could have a significant growth opportunity. It appears that the Lt. Governor's BRAC commission agrees. I look forward to working with folks relocating because of BRAC; I think Baltimore City has a lot to offer, not the least of which is affordable housing.