Ellicott City Realtor Catonsville Realtor

Q:  I've purchase a home once already, and I did pretty well in the deal.  What's so different about buying an investment property?

A:  I've said them all before, but I will say them here again.  The differences seem simple:

• You do not fall in love with an Investment Property
• You do not fix up an Investment Property the way you would fix up your own home.
• An Investment Property is all about the numbers.  Unlike your home, whose primary function is to be your residence, an Investment Property's sole function is to make you money.  There is no other purpose.

It seems simple.  You would be surprised once you get caught up in the emotion how quickly you might forget these things.

If you're ready to purchase an investment property, give me a call.  I'll help bring you back to reality and determine if your excitement is based on the numbers, or on the emotion.

 

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What do you do when a house comes on the market and it is perfect for your Buyers?  Not only is it perfect for your Buyers, it is also significantly underpriced.  Of course, you write a full price offer and have a home inspection.

What do you do when that home inspector comes up with a significant repair?  To give you an idea, on a $490,000 sale price, the inspector found $25,000 in repairs.  The Buyers do not have $25,000 to put into the home.

What do you do when the owner that you negotiated the sale price with is no longer the owner of the house?  A relocation company now owns the home, and working with relocation companies is like working with a bank on a foreclosure - there's no give.

I have my own strategy for working this out - what's yours?

 

We Love Local - Service Directory of Local Businesses for Howard County, Carroll County and Batimore County.

Maryland Home Painter:  Catonsville Paint Works

At a Glance:
Owner:  Steve Combs
In business since:  2003
Phone:  443-463-4472
Email:  info@catonsvillepaintworks.com
On the Web:  www.catonsvillepaintworks.com

With more than 15 years of experience as a Maryland Home Painter, Steve Combs started Catonsville Paint Works in 2003 and has seen his business grow and thrive through word of mouth referrals.  Steve is not only a top expert in his field, he gives great care and attention to the finished product.

Having used Steve's services, I am happy to include Catonsville Paint Works in my service directory.

Featured Listing Friday - Private, Patio Level Condominium in the Resdences at Lake Elkhorn.  A condominium community that backs to Lake Elkhorn and offers privacy, fishing, wildlife, a community pool, and convenient shopping. In a serene wooded setting, this former model home features beautiful landscaping that only awaits your personal touch.

• 2 Bedrooms
• 2 Bathrooms
• New Appliances and Countertops
• New Heating and Air Conditioner and Hot
• Water Heater
• Fireplace
• Built in Shelves and Finely Crafted Woodwork
• Hardwood Floors
• Ceramic Tile
• Soaking Tub in Master Bath
• Patio Level
• Custom Light Fixtures
• Large Rear Patio
• Bonus Storage Room
• Village of Owen Brown
• Talbott Springs Elementary School
• Cradlerock Middle School
• Oakland Mills High School

For more information, please feel free to visit the website or contact me.

 

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Top Seller Tuesdays - Spend a Little, Get a Lot!  A series of weekly tips for preparing your Maryland Home for sale that are simple, quick and designed to bring you top value.

• Improve safety by ensuring that windows and doors can't slam shut; fixing loose handrails on porches, decks, and stairways; and removing dangerous tools, sharp objects and hazardous materials from the garage.

If you'd like more information about preparing your home for sale, feel free to contact me.

Pristine Home, Completely Updated with Lots of Charm
$275,000

Move in today - you don't need to do a thing!

 

• 3 Bedrooms (Possible 4th Bedroom)
• 2 Full Bathrooms
• Kitchen and Full Bath are New and Fully Updated
• Hardwoods, Fresh Paint throughout
• Lower Level is Newly Finished with Family Room, Office/Bedroom and Full Bathroom
• Fenced Rear Yard
• Large Multi Level Deck is great for entertaining
• Quaint front porch with ceiling fans

For more information, click here.

 

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Q:  I've found a deal, and it's a deal that helps me meet my long term goal. NOW can you tell me how to evaluate it?

A:  If you know what your long term objectives are, and the deal helps you meet them, then the next step is to gather some information about the property.  Here in Maryland you can use the Maryland Department of Assessments and Taxations Real Property Data Search.  From this site you should get the following basic information about the property:

•             Year built
•             Number of Bedrooms
•             Number of Bathrooms
•             Finished Square Footage
•             Lot size

Once you have this information, you can begin to find similar properties with similar amenities.  Everyone knows about websites like zillow.com, domania.com and realtor.com, and you can use those sites to find properties for comparison.  The two biggest problem with these sites is that the information is often not current or updated.

Another option is to sign up for a Listingbook account.  Listingbook is the service that I use to keep my clients informed about properties on the market here in Maryland.  The information is pulled from our local Multiple List Service every 15 minutes, and you can review homes that have sold, and even homes that are under contract.  Listingbook is the only service in our area that provides this information to consumers online.

And of course, you are always welcome to call me.  I can give you a thorough analysis of your property, and of comparable properties in the area including Seller Subsidies that may not be reflected in the research you are able to do yourself.

Tick Tock - It's Not Just a Song - The Home Buyer Tax Credit is Ending - do you still have time to claim it?

If you're not serving overseas with the military or federal government, your opportunity to claim the $6,500 - $8,000 Home Buyer Tax Credit is quickly ending.

Is there still time?  If you act quickly, then yes, there is time.  Not to sound like a salesperson, but the fact remains that the credit expires April 30th.

So, if you haven't done anything yet, what do you need to do?  Talk to a lender TODAY about what you can afford.  Then talk to a Realtor TODAY about what your affordability will buy you.

Tick tock.

Top Seller Tuesdays - Spend a Little, Get a Lot! A series of weekly tips for preparing your Maryland Home for sale that are simple, quick and designed to bring you top value.

• Just before showing your house, turn on all the lights - including closet and oven lights, and those over the stove and kitchen counters.  This makes the house look bigger and brighter..

If you'd like more information about preparing your home for sale, feel free to contact me.

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If you have any questions about this report, feel free to give me a call, or click here to request more information.

Baltimore County Real Estate Market Update, March 2010