Patterson Park Issue #1: June 2008
Kimi Aghevli, REALTOR
Just Listed Listed in May
131 S Curley - $259,900 2 BR/ 3 FBA 101 S Curley - $179,000 3BR/1FBA/2HB 256 S Robinson - $264,999 2BR/1.5 BA 233 S Robinson - $229,900 2BA/1BA 2506 E Baltimore - $820,000 6BR/3.5BA
Contract List Price At Time of Contract Acceptance
123 S Potomac - $235,000 3BR/1BA 126 S Curley - $290,000 3BR/2BA 13 S Linwood - $259,900 3BR/3.5 BA 2 N Luzerne - $274,900 3BR/1.5BA 2920 E Baltimore - $314,900 4BR/2.5BA
Recent Sales
In the Month of May 1 Port - $210,900 2BR/2.5BA 17 S Linwood - $310,000 3BR/3.5BA 2402 E Baltimore - $355,000 4BR/3.5BA 215 S Robinson - $197,500 2BR/1.5BA
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!
June 2008 “I am of the opinion that my life belongs to the community, and as long as I live it is my privilege to do for it whatever I can” – George Bernard Shaw
Issue #1: June 2008
Kimi Aghevli, Realtor
Upcoming Events in the Park
Spring has sprung in Patterson Park! Longer days and warmer nights offer lots of opportunities to get outside and be involved in the community. Here are a few upcoming events in and around our neighborhood. May 30th and June 1st (Saturday and Sunday) Kick off the festival season with the Polish Festival. Enjoy polka bands, crafts, and delicious Polish delicacies. June 5th-8th (Thursday – Sunday) The St. Nicholas Greek Folk Festival will showcase Greek food, dancing, handicrafts, and tours of the Church. June 7th (Saturday) Patterson Park Fishing Festival. Bring your rod (or come early and rent one) for an afternoon of fun, games, crafts, and of course…fish!
Keep our neighborhood looking great by keeping your home looking its best, too! Clean streets and sidewalks show visitors that neighborhood residents take pride in our properties.
Don’t Curb Your Home’s Appeal!
Whether you are thinking of selling or just want to help keep Patterson Park looking its best, here are some quick tips to make your home shine from the outside, and give it “curb appeal” to passers-by or potential buyers: •
Plant season flowers in planters or pots at the base of your steps. If you are lucky enough to have window boxes, make the most of them!
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Keep your tree-bed mulched and weeded, and pull up any stray weeds from the sidewalk, too.
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How is your door looking? A fresh coat of paint and some new hardware can instantly brighten the look of your home.
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Consider having a stained-glass transom made to showcase your house number, and also bring in beautiful light.
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And of course…don’t forget to keep your windows clean and pick up any trash!
June 8th (Sunday) Dust off your bike and tour Baltimore’s parks! All riders meet in Caroll Park, with a rest stop in Patterson Park. More info at www.tourdemparks.org. June 9th (Monday) Patterson Park Neighborhood Association meets every second Monday of each month in St. Elizabeth’s Church Hall. June 15th (Sunday) Don’t’ forget Dad! This Father’s Day, bring your dad to the first Pagoda Hill concert of 2008, featuring the eclectic sounds of “Seed Is…” June 21st (Saturday) Come on in, the water’s fine! Patterson Park Pool opens with new season pass family packages. Pool hours for the summer are: Mon – Sat 12pm-7pm, and Sun 1pm-6pm. June 21st and 22nd (Saturday and Sunday) Latino Fest will bring delicious food, exciting vendors, and wonderful music to the park all weekend long! June 24th (Tuesday) Put on your dancing shoes ! Join Blue Sky 5 and Charm City Swing for an evening of vintage jazz and swing.
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Issue #1: June 2008
Kimi Aghevli, Realtor
Featured Real Estate Article:
The Long View
by Lawrence Yun, Chief Economist of the NAR
“How much have real estate investors lost due to the housing market bust?” That was the (highly loaded) question posed to me recently by a producer of one of the major evening news programs. The show wanted to run a story about the "pains" being felt in the market. Hmm. Well, exactly how much real pain are we talking about? Let's look at a couple of examples. An investor who bought a property in Las Vegas five years ago would be ahead by $150,000; up $200,000 in Miami. The average investor nationwide – up $54,000. Only the recent buyers (flippers) who bought last year in few specific markets would have encountered a loss. Not All Losses Are Created Equal I’m not discounting the discomfort of those who lost big, especially lenders and hedge funds who had large exposures to subprime loans. Investors in homebuilder stocks have certainly experienced pains. But nearly all real estate investors who have a reasonable holding period are doing quite fine. Some of these fortunate buyers who got into the market several years ago will still consider a modest give back as a loss without considering the large gains reaped during the housing boom. That’s the nature of the human mind. A gain of $190,000 in Miami feels like a $10,000 loss considering that the gain had been $200,000. A Home is Not a Stock Certificate -- Thank God! Foreclosures are rising and construction workers are being laid off. REALTORS® are feeling the pinch as well. However, consumers and homeowners who are in it for the long-term are once again coming out well ahead. Because of the power of leveraging, $10,000 used for a down payment on a typically priced home in the United States at a typical appreciation rate of 5 percent will return $110,000 after 10 years. The same $10,000 invested in the stock market appreciating 10 percent annually will result in $23,600. No wonder the data from the Federal Reserve show consistent results year-after-year of the staggering difference in net worth between homeowners and renters. A typical homeowner had $184,400 in net worth versus only $4,000 for a typical renter. The Spooky Thing The lack of buyer confidence to enter the market has been the one principal reason in holding back home sales. Many would-be buyers are spooked of a possible home price decline. And the media is fueling that fear. Some of the most popular market gurus who offer their advice on television and other media say so. Caution is in order, however. As a recent Barron’s article pointed out, stock picks made by one such expert actually underperformed the market. Opportunities to Seize It’s also important to point out that times of crisis often turn out to have been times of opportunity in hindsight. With over four million net new job additions in the past two years– the time frame during which home sales have steadily fallen – a significant pent-up demand has developed. Home sales and home prices will be higher in 2008 compared to 2007. And, as with any investment, look longer term. Those investing in a home and keeping it for a typical holding period of six to ten years will likely see their investment pay off; those homes will have been a good investment.
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Issue #1: June 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 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