Patterson Park Issue #3: October 2008
Kimi Aghevli, REALTOR
Just Listed Listed in September
25 S Linwood - $339,000 23BR/2.5BA 120 N Luzerne - $232,900 3BR/3BA 16 N Milton - $225,000 3BR/1.5 BA 25 N Potomac - $209,900 3BA/1BA 2 N Potomac - $204,000 3BR/1BA
Contract List Price At Time of Contract Acceptance
25 S Linwood-$339,000 3BR/2.5BA 20 N Kenwood - $239,500 3BR/1 BA 20 N Port - $225,000 2BR/3BA 2914 E Baltimore - $239,000 3BR/2BA
Recent Sales
Settled in September 24 N Curley -$173,479 2BR/1.5BA 134 N Luzerne - $193,000 2BR/1.5BA 5 N Linwood - $248,000 2BR/2BA 2800 E Baltimore - $350,500 3BR/2.5BA
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!
October 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 #3: October 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.
Neighbors Blog About Home Renovation Everyone knows that renovating a home can be a real headache, but that doesn’t mean you have to lose your sense of humor! Just ask our PPNA President, Marisa Vilardo, and her husband, Steve Gondol (who works for LiveBaltimore) , who started a blog to chronicle the trials and tribulations of a whole-house renovation. With funny anecdotes, great photos, and a wonderful overview of what goes into a major remodel, this blog is must-read for those considering such an undertaking as well as a trip down memory lane for those of us who have been there before! Visit Marisa and Steve’s Blog at:
www.ournewfrontdoor.blogspot.com
This October, don’t let the ghosts and goblins stay inside! With some of the best weather of the year, this month offers plenty to do in and around our Park. Finish the month in splendor at the Great Lantern Parade in the Park. October 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. October 3rd (Friday) Take a walk along Art Loop the first Friday of the month after 5 p.m. in Fells Point to see art shows, openings, events and food. October 4th and 5th(Saturday and Sunday) Fells Point Fun Festival 2008 brings artists, performers, and food vendors to Baltimore’s original deep sea port for the 42nd year October 12th (Sunday) Celebrate Columbus Day with some of the regions best marching bands, costume groups, and Spanish and Italian organizations – right at the Park! Parade starts at the corner of Linwood and Eastern at 1 p.m. October 17th – 19th (Friday- Sunday) Wrap up the Festival Season with the Russian Festival, with cultural food, performances and souvenirs at the Holy Trinity Russian Orthodox Church on Fairmount Avenue. October 25th (Saturday) The Great Halloween Lantern Parade is one of our Park’s best events! Make a lantern (head to the Creative Alliance for help) and join revelers at the Pulaski Monument to parade to the sound of drums through the park. Costumes, Floats, and a finale Monster Raising promise great fun for the young and young at heart. October 30h (Thursday) Meet and mingle with your neighbors at the monthly Happy Hour, 7 PM (location TBD, but always at one of our great neighborhood bars) October 31st (Friday) HAVE A SAFE AND HAPPY HALLOWEEN! 2
Kimi Aghevli, Realtor
Issue #3: October 2008
Featured Real Estate Articles: Washington Report:
Overview of Bailout Plan
by Kenneth R. Harney
There's no question what's been dominating debate in Washington -- the Treasury's and Congress's plans to buy hundreds of billions of dollars of distressed mortgages from lenders and investors. The fine print rules and regulations for the bailout plan won't be known for weeks, but here's a quick overview from a real estate perspective on how it's supposed to work: At its core, the plan is all about taking home loans off lenders' and investors' books that are currently illiquid -they can't be sold, or are extremely difficult to sell -- because no one is sure what they're really worth. Consider this hypothetical example: Say you own a mortgage-backed bond that has 100 subprime home mortgages in it. At the moment, 24 of those loans are delinquent; but 76 are paying on time. That proportion is pretty close to reality, according to the latest delinquency numbers from the Mortgage Bankers Association. Now, because there are serious defaults in the pool, there's a stigma attached to your subprime bond. The best offer you've heard is maybe 20 cents on the dollar - which is ridiculous because over three quarters of your loans are paying on time, and the monthly cash flows should be worth a lot more. You need an organization or program to intervene, buy your mortgage pool for a fairer price. That, in turn, will allow you to take in some cash and make some new mortgages. The buyer of your loans can now work to see whether the interest rates, monthly payments, and other features of the 24 “bad” mortgages can be modified to be more affordable for the home owners involved. Let's say that over a period of three years, those modifications end up saving 15 of the 24 delinquent mortgages from going into foreclosure. The new owner of the pool now has 90 loans paying on time, making it a lot more valuable than it paid. Although the example is simplified, it's pretty much what the bailout plan is all about: Taking undervalued assets, holding them for awhile and turning them into better assets -- lemons into lemonade -- and reselling them, maybe even at a profit. It's not clear at the moment how successful this will be long-term. But by buying up incorrectly valued mortgages at a “fair” price, the government has a chance to pump new money into the market -- money for new home mortgages -- and even lower interest rates in the process. Exactly how to do that -- with what rules and guidelines -- has been what all the noise in Washington has been about. Published: September 29, 2008 in Realty Times
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Kimi Aghevli, Realtor
Issue #3: October 2008
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, PATTERSON PARK’S NEIGHBORHOOD REALTOR 9 South Linwood Avenue Baltimore, MD 21224 KAghevli@cbmove.com (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