In a recent study of the 50 largest metro areas, Baltimore ranked 19th in high stress levels. The data was analyzed by Portfolio.com, which is part of bizjournals, such as the Baltimore Business Journal online. There was a 10 part formula put together that helped to determine stress factors, including: 1. Unemployment rate (metro area, [...]
The US Housing and Development has awarded Maryland $6.8 Million to help stop foreclosures as part of the Neighborhood Stabilization Program. Areas receiving awards are allowed to use the money to buy land and property to either rehabilitate or knock down houses, and also to offer downpayment and closing cost assistance programs to low-to-moderate income [...]
Buying a home Baltimore just became a little sweeter for homebuyers looking on the east side. The Housing Authority of Baltimore City sent a press release out this morning with this great announcement that 50 eligible buyers participating in the Buying into Baltimore event on September 11, 2010 will receive $4,000 towards their new home, [...]
Baltimore house values are still struggling compared to much of the rest of the US in July 2010. Finally, Baltimore homes are seeing an increase in value, with the first quarter of the year up 2.9% over 2009. The rest of the country, on average, saw an increase of 7.9%. The rough news is that [...]
This Month in Real Estate August 2010 has been released. As I mentioned in my July 15 post, "Mortgage Rates at Lowest Point in Five Decades," mortgage interest rates have dropped to their lowest level in the past 50 years. On July 29th, that number was 4.54%! Freddie Mac's current average interest rate is at [...]
Baltimore City property tax bill errors were popping up in large amounts last week. Approximately 7,900 city residents received additional bills because of a computer issue, stating that their taxes were past due. Many of those who received the erroneous additional property tax bill were newer Baltimore City homebuyers who bought their homes sometime between [...]
Emergent BioSolutions will have 120 new jobs in Baltimore in the next few years. The company, based in Rockville, had a ribbon cutting ceremony on their 56,000 square foot facility on Lombard Street in Downtown Baltimore on Friday. Emergent is the maker of the only FDA approved anthrax vaccine. The Washington Post reports that they [...]
Mortgage rates are at the lowest point they have been in five decades. The national average is 4.57% for a 30 year fixed conventional loan. MSNBC reports that: Rates have fallen over the past two months. Investors, concerned with the European debt crisis, have poured money into the safety of Treasury bonds. Treasury yields have [...]
A recent statement by John Paulson of Paulson & Co, Inc. shows that housing prices are expected to rise 3-5% in 2010. CNBC published an article with quotes from the group's owner, who tracks home prices in California, and notes that what happens in the state tends to trend about six months later in the [...]
Baltimore home sales were up 35% in April over March's sales as well as over April 2009 sales. This a telling sign that buyers were looking to take advantage of the ending homebuyer tax credit, as well as hopefully previewing that the economy is beginning a recovery. The Baltimore Business Journal reported this on information [...]