This special ULC Blog post continues our brokerage dialogue on, “Why did we buy Baltimore?” The focus this week is on the urban market’s housing prices and built-in value for first time buyers and savvy investors.
“The value of properties in Baltimore can be shocking when you first come up from the DC area,” said Gerard DiRuggiero, Principal Broker of UrbanLand Company. “By shocking I mean shockingly low. We’re talking about a marketplace where the average sale price for homes was just $136,549 in 2016 and $132,366 in 2015. This alone creates compelling reasons for any first time home buyer to want to explore further.” At an average price just over $130,000, the cost of entry to being a homeowner in the city is extremely low.
“The MARC train provides an easy linkup between the city and DC for commuters,” commented Gerard. “If you have flexibility in your work schedule or can telecommute periodically, there’s no reason not to investigate how to cut your costs of living WAY DOWN! This is a place where transitional market buyers can score a home cheaply and watch it grow in value around them.”
On the investor / developer side of the table, the Baltimore market offers the same attraction. “Again, it’s all about the cost of entry and the amount of cash you need to have in order to acquire sites and properties,” continued DiRuggiero. “The extremely low purchase prices and availability of sites creates the ideal environment for large cash on cash returns for developers. It simply does not take much investment to get started on infill urban properties in the core City areas, and there are a lot of ‘core areas’ to choose from.”
Baltimore’s a huge market with a lot more geography than DC. Don’t know where to get started? “Real estate is still location, location, location. If any developers want to join in our next trip up to the city to look at sites, just let us know. We’re up there often and love being ambassadors for the city! We can show you quickly how to make sense of the market up north as a developer.” Call Gerard at 202.759.4114 or email him at Gerard@UrbanLandCompany.com to get started.
Expect more Baltimore news to come from UrbanLand Company! We have our own special Baltimore Blog for those who want to follow what’s going on, and news hits our Facebook, Twitter and Instagram constantly.
Here’s a snapshot on Baltimore’s current market data from our Neighborhood Watch. Check it out!
Contact UrbanLand Company Today!
This third UrbanLand Company office is in the Hampden neighborhood of Baltimore on a commercial strip known as “The Avenue;” our address is 831 W. 36th Street. It’s a two story commercial building surrounded by locally owned small businesses – it’s eclectic coffee shops, restaurants, shops and businesses. “The Avenue” is a favorite haunt of movie director John Waters, who regularly features Baltimore as the backdrop for his films. We’re right near new retail and dining locations like The Rotunda in Hampden, R House in Remington and the Mount Vernon Marketplace, and Johns Hopkins University is right around the corner.
Here are some pics of our new location and neighborhood.
UrbanLand Company is licensed in DC, Maryland and Virginia and has sold over 1,250 local residential units since 2003. The firm’s Agent Leads Generation Program, an in-house business development and training pipeline that delivers leads to UrbanLand Company agents, has produced local leads since 2014 that have resulted in over $35.5 million in closed transactions.
If you’re a licensed agent and want to join in our DC and Baltimore expansion, call 202.759.4114 or by email. Don’t be a stranger! We’re already recruiting agents for our Baltimore office to join those already in our group who will be participating up North.
Here’s some of the recent agent closings from our in-house leads program. We deliver close-able opportunities!