Patterson Park Issue #2: July 2008
Kimi Aghevli, REALTOR
Just Listed Listed in June
2 N Milton - $279,900 2 BR/1.5BA 105 N Kenwood - $344,900 3BR/3BA 139 N Decker - $179,900 2BR/1 BA 118 N Glover - $184,900 2BA/1BA 11 S East - $289,900 2BR/2BA
Contract List Price At Time of Contract Acceptance
2804 E Fairmount-$249,900 3BR/3.5BA 146 N Decker - $149,000 3BR/2 BA 32 N East - $199,000 2BR/2.5BA 101 S Curley - $270,000 3BR/1.5.5BA
Recent Sales Settled in June
2920 E Baltimore -$309,000 4BR/2.5BA 2 N Luzerne - $255,000 3BR/1.5BA 9 N Curley - $208,000 2BR/1.5BA 128 S Rochester - $115,500 3BR/1BA
For more information regarding these or other real estate transactions, or to get a free comparative market analysis for your home, email or call me!
July 2008 “The good we secure for ourselves is precarious and uncertain until it is secured for all of us and incorporated into our common life” – Jane Addams
Issue #2: July 2008
Kimi Aghevli, Realtor
Upcoming Events in the Park
Take a stroll around our neighborhood – VIRTUALLY! Want to share pictures of the Park and your neighborhood with your friends or family? Show-off where you live with a virtual tour of Patterson Park! Additionally, if you have photos you want to share , send them to me and I’ll add them to my tour! http://www.visualtour.com/show.asp?T=1552340&prt=10003
Thinking of selling your home?
Imagine how this same technology can help to sell your home faster. Today’s Buyer is technologically savvy and wants to see more pictures, virtual tours, and information without leaving their house. I provide a virtual tour with every listing – call or email me today for more information.
This July, let your creative side loose! Concerts, performances, and cultural events abound this month, so be sure to take advantage of all the different cultural flavors that make our city – and country- so special. Happy Independence Day! July 1st (Wednesday) Citizens On Patrol Walk brings neighbors together to show we care about our community. Bring your dog and meet at 7 p.m. every Wednesday at the corner of Linwood and Baltimore. July 4th (Friday) Happy Fourth of July! Head down to the Inner Harbor for Baltimore’s Fourth of July Celebration! Entertainment begins at 11 a.m., fireworks at 9:30 p.m. July 8th (Tuesday) Jazz-singer Marianne MathenyKatz performs for the second Mercy Music in the Park Concert at Pagoda Hill. July 11h (Friday) Head up to the Creative Alliance for a night of fright! Book of Love, written by Baltimore’s ownLaMartina, won Shock Fest’s Best Horror Feature. July 18th-20th (Friday - Sunday) Artscape 2008 brings music, theater, crafts, performances and, of course, art to Mount Royal.
Patterson Park Neighbors Play Ball! Several members of our neighborhood (myself included!) have been breaking out the bats and balls and representing the Patterson Park Neighborhood Association in the BSSC league! The new interior lights are now on around the fields and tennis courts, so take an evening stroll on over to cheer on your neighbors. Bring a friend or the kids – and even some peanuts! -- and share in some good old-fashioned summer fun. Here are some upcoming games: •
June 30th (Monday) – 6:00 at Utz Field
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July 14th (Monday) – 7:00 at Utz Field
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July 29th (Tuesday) – 10:00 at Utz Field
July 20th (Sunday) The 11-piece band of Orchesta Son de Aqui will get you up and dancing to their classic Salsa sounds at Pagoda Hill. July 26th (Saturday) SalsaPolkaLooza is the Creative Alliance’s free family-friendly festival with music, art, food, prizes, a treasure hunt and more! July 29th (Tuesday) City Paper’s Best Reggae Band, Stryker Posse, continue the concert series in Patterson Park. July 31st –August 3rd (Thursday - Sunday) Heat getting you down? You can’t help by laugh at Baltimore Improv Fest at the Creative Alliance. 2
Issue #2: July 2008
Kimi Aghevli, Realtor
Featured Real Estate Articles:
The Buyer Pool
Foreclosure Facts
In the past, sellers of houses looked for one buyer who would pay them enough for the property. However, sellers should be appealing to the "Buyer Pool", the group of buyers who would buy if motivated to do so. Those in the Buyer Pool are motivated by many factors:
The media is continuing with more foreclosure stories and statistics focusing on the percentage increase in foreclosed houses. Losing a house is a devastating thing for homeowners. There are many factors that cause foreclosures. The major factor is the depreciating prices of houses in many areas.
1. Absolute needs - This can be due to relocation, a need for a better or cheaper commute, increased (or decreased) household size, or divorce.
In the previous market with appreciating prices, when homeowners had a personal financial reversal or an increase in their adjustable mortgage that was beyond their reach, 2. Wants - A different neighborhood, house construction or they could sell their house for more than they owed and style; a more (or less) expensive property; or an investment. come out whole. In a depreciating market, those homeowners find they owe more than the current market The pool of potential buyers remains relatively stable value of their house and have three possible situations although some external factors such as local employment and depending on their financial resources. If they have enough mortgage qualifications can increase or decrease it to some extra money, they can sell their house and bring a check to degree. The major issue is "Are those potential buyers really the settlement table to make up the difference. Or they can motivated to buy?" Those with absolute needs have their own negotiate with their one or more lenders to work out a short motivation. Those with "wants" may sit on the sidelines until sale arrangement to sell their house for less than the total something moves them to buy. What stimulates a retail store mortgage debt. The final one is to let the foreclosure process customer to buy something they didn't previously plan to go through. buy? Bargains! Or better said in real estate, a perception of The statistics we hear focus on the obvious percentage value. increase in foreclosures over the previous year. It appears as if a large number of houses are foreclosed. However, the Are buyers now seeing a perception of value? The ongoing national percentage of foreclosures is less than 2% of all negative news about real estate is that prices are falling due houses. In some areas where a large number of speculating an oversupply of inventory in most areas. With more investors brought houses to flip them quickly such as housing inventory still coming on the market than going off, Florida and California, the percentages are higher. In our the increased inventory causes the downward pressure on prices. The falling price news is only negative for sellers who area, we are a little less than the national average. must sell now because they bought or refinanced at the price peak of the market. But those prices are creating a perception The foreclosure factor has some impact on the market for of value (bargains) for the buyer pool who are now motivated sellers when REO’s (what the banks call the properties they have foreclosed) sell for less. It also has some impact for to action. Sellers who are now appealing to the buyer pool buyers who may buy a foreclosed property for what might will find success in getting their property sold. be less. For information about how the market is doing in If you or anyone you know would like to consult with me on the counties of your interest, please ask me for detailed graphs and data. what to do as a buyer or seller in the current market, please contact me at any time. For other real estate information and expertise, please contact me at any time. Kimi Aghevli
410.925.6625
KAghevli@cbmove.com 3
Issue #2: July 2008
Kimi Aghevli, Realtor
www.pattersonpark.ning.com
Join Your Neighbors Online!
Let’s connect online! Share your favorite restaurant, plan a party, or search for a babysitter down the street…all at your fingertips! By joining this social network you not only enable yourself to get to know your neighbors and your neighborhood better, but you also strengthen our community. Search listings, neighborhood information, buying and selling tools and additional resources and more from my website: www.cbmove.com/kimi.aghevli Or just call or email me and I can do the work for you!
You can plan events, upload pictures, share news, and discuss neighborhood issues in a forum. So log on today and encourage your friends and neighbors to do the same! I look forward to seeing you there!
Questions about this issue? Ideas for what you’d like to see in the next? Have something you want me to share with the neighborhood? I want to hear from you! Whether it’s to find out about buying or selling a home, or to tell everyone you’re happy to babysit or dog walk, contact me anytime via email, phone, mail, or a knock on my door. And of course, if you, a neighbor, a family member or a friend is looking to buy or sell real estate, please call to see how I can help. I can’t wait to hear from you!
Kimi Aghevli, Realtor Coldwell Banker Residential Brokerage, (410) 235-4100
9 South Linwood Avenue Baltimore, MD 21224 (410) 925-6625 KAghevli@CBMove.com www.cbmove.com/kimi.aghevli www.pattersonpark.ning.com Owned and operated by NRT, LLC
This information is deemed to be accurate but is not warranted