A new skyscraper at Penn Station? Maybe.
Amtrak is seeking development proposals for a multi-use complex that could spear-head continued development in the Cahrles North area of the city.
click here to read the full article in the Baltimore Business Journal.
Home Sales Slightly Up. Is the Bounce-Back Coming?
According to the Daily Record:
Home sales contracts up
Homebuyers and sellers in the Baltimore metropolitan area signed 2,731 contracts in May, 0.7 percent more than in April and 53.7 percent more than in May 2010, according to RealEstate Business Intelligence LLC, a source of real estate information in the mid-Atlantic region. The monthly increase was consistent with seasonal trends but the year-over-year spike was an anomaly, due to a 48.7 percent drop in pending sales last year related to the expiration of the federal homebuyers tax credit. The median sales price rose 3.2 percent to $221,950 in May 2011 from the prior month, but still 5.1 percent below the $234,000 median recorded in May 2010.
U2 hit the Baltimore Stage
You can practically feel the energy and hear the buzz all over Bmore. Not only is Baltimore getting a chance to host a large rock concert (something that we usually miss out on due to our proximity to the smaller and more difficult-to-get-to city to our south)…but it’s getting a chance to host one of the greatest rock bands of all time.
This is a great opportunity for the city to have a positive spotlight shined upon it while also boosting the local economy. Those concert-goers have to eat and drink somewhere. Fortunately, our stadium is in the heart of downtown (unlike that other stadium…well…to our south).
The massive stage is just about complete.
If you’re one of the lucky ones with tickets, enjoy the show. If you don’t have tickets, maybe you can join me on the shoulder of the off-ramp of I95 for a listen.
The Great Baltimore Check-In
The folks at WTMD (Baltimore’s coolest radio station) and Urbanite Magazine (Baltimore’s coolest free mag…if you’ve never read it, pick up a copy) have put their heads together for The Great Baltimore Check-In. Details are here.
You gotta play to win…so don’t forget to check-in!
More Reasons Why It’s A Great Time to Buy
Following in the footsteps of its counterpart Fannie Mae, Freddie Mac is offering a summer sales promotion for buyers who purchase a home from its inventory of foreclosures or HomeSteps properties. Since banks typically sell foreclosures “as-is” without incentives, warranties, or repairs, this incentive could help buyers view a HomePath property more like a traditional sale, and less like a distressed property, during their search process.
For offers received by July 31 that close by September 30, Freddie Mac is offering:
- 3.5% in closing costs to buyers
- $1,200 bonus to buyer agents
This is on top of the incentives already being offered:
- A two year HomeProtect Home Warranty
- Up to 30% savings on new appliances
Note that this program comes with a few eligibility requirements, which includes the home must be a single-family, owner-occupied, financed dwelling used solely for residential purposes.
Rates Hit Record Low
Rates have reached a new record low after steadily declining throughout May, primarily due to uncertainty in the global and domestic economies. Rates are still expected to follow an upward trend as the year progresses. As overall economic activity gets back on track, rates will likely rise to keep inflation in check. This window of opportunity for buyers to lock in these historically low interest rates may not remain open much longer.
Gradual and Uneven Progress
The U.S. housing market continues its gradual and uneven progress, despite the expiration of the home buyer tax credit. The remarkable rebound in housing activities from the initial drop following the end of the home buyer tax credit this past July adds to the belief that the risk of a double-dip downturn in housing may be disappearing.
As the housing market continues to work through the excess supply overhang, a result from the glut of foreclosed properties which is keeping home prices below their long-term trend growth, economists anticipate mortgage rates at or above 6% by the end of 2012 and expect buying activity to continue its upward momentum.
Supporting this view is the rising concern about inflationary pressures sparked by political unrest in the Middle East. While surging gas and food prices could prove transitory and pose no major threats, these price increases may weigh down consumer spending, which accounts for two thirds of the economy. While, the Federal Reserve is committed to making necessary policy changes to address such risks. Meanwhile, core price gains, excluding food and fuel, were modest in April, offering some relief to consumers.
As the economy improves, stimulus efforts by the government and the Fed is expected to gradually wind down, which typically spurs rising interest rates to keep inflation in check. Meanwhile, buyers continue to benefit from historically favorable buying conditions and sellers are encouraged by increased market stability.
Lessons in Thankfulness
I live in a house that is too big and too old. It is rapidly approaching 90 years old, and it is showing its age. It is located in one of the loveliest neighborhoods in Baltimore City, on a tree-shaded street, and it sits on one half acre of land. It is made of brick and wood and slate. It has a sunroom with 5 beautifully arched windows; there’s a huge fireplace in the living room, and a button on the dining room floor that in another time was used to buzz the maid. There’s a butler’s pantry and a rear staircase that was once trod upon by servants. There are French doors, a crystal chandelier, and a safe in the basement. There used to be a big bent tree in the front yard that we had to cut down. A few years ago we planted a cherry tree in the backyard and every year it blooms bigger and brighter than the year before. This past summer we took large old flagstones and laid them into a small patio. We have had the same mail carrier for the 11 years we have lived here – her name is Joanne.
We have lived in this home for eleven years, raised our children here, celebrated countless birthdays, Thanksgivings, and Christmases here; and within the next few days we will be leaving it and moving on to our next home.
This Thanksgiving, as our family begins a new life-chapter; and as Valerie and I consider the decisions we have made/are making/will make, I am reminded of those things that I am thankful for.
So I offer the following list. Feel free to add your own:
I am thankful…
- For the ability to make painful but wise decisions.
- That I am the child of an almighty, loving, forgiving, and creative God.
- That God put Valerie in my life.
- That God helped us make Chris, Conor, Cate & Maddie.
- That my wife still loves me after everything.
- That my kids are happy, healthy, loving, creative, full of light, and majestic.
- For the way the clouds looked in front of the moon 2 nights ago.
- That my sons still kiss me goodnight.
- That my daughters still call me “Daddy” every now and then
- That my kids tell me, everyday, that they love me.
- That my wife tells me, everyday, that she loves me.
- For the unconditional love and support of my parents
- That I come from a long line of Clancy’s, Reynolds’ and Gambino’s.
- For my brother and 2 sisters who are such a part of who I am that I sometimes take them for granted.
- For options.
- For my dog, who in spite of her smell, is a good and loyal friend.
- For a full head of hair.
- That Elvis Presley, Mother Teresa, Martin Luther King Jr, Saint Augustine, Sid Vicious, Joe Strummer, and Aaron Copland created things and left those things behind for us
- For my friends
- For the ability to serve my church
- For “To Kill a Mockingbird, “A Prayer for Owen Meany,” and “My Side of the Mountain”
- For my children’s friends.
- For my wife’s family
- That I am a citizen of this great and messy country
- For cities, particularly Baltimore City
- For the way the city skyline looks on a clear night
- That I was able to spend the last 11 years in this grand old house
- That I found the hidden song on Springsteen’s new album (it’s beautiful)
- That I have dozens of cousins who love me even though I don’t see them very often
- For the Book of Common Prayer
- For the Baltimore Ravens
- That Joe Flacco keeps getting better
- For the Baltimore Orioles
- For the Chesapeake Bay and the beautiful bridge that crosses it
- For my work
- For my career
- For my business partner
- For the love of Jesus
- For music that moves and inspires me
- For the woman who sings the chorus in “Gimme Shelter”
- For the way C.S. Lewis describes the moment of death in “The Screwtape Letters”
- That our family says grace every night before dinner…even if we’re eating in front of the TV
- That I was raised in the Catholic Church
- That I am a member of the Episcopal Church
- For people who look, sound, and think different than me.
- That Valerie and I still hold hands
- For the ability to make people laugh
- That I used to be in a rock and roll band
- For the roar of the ocean and the quiet of an early morning snowfall.
- For good beer
- For not so good beer
- For every Bruce Springsteen concert I’ve ever been to (even when he had the weird band in the ‘90’s)
- For my Saab
- That our new home has a fireplace and a new kitchen
- That our new home is only 3.5 miles from here
- For college radio, especially 89.7 WTMD – Towson University
- For my mistakes and failures
- For Seinfeld, The Dick Van Dyke Show, Arrested Development, and I Love Lucy
- That during a beautiful sunset, our 20 year old son will send us a text message that reads “Look at the sky.”
- That my youngest son has vision and thinks he is Superfly
- That my eldest daughter is wise and funny, and gives it right back to me and makes me crazy
- That my youngest daughter loves books, has a sense of style, and still lets me tuck her in at night
- That my wife is always late and always forgets where she puts things
- For choir music and beautiful old hymns
- For Hymn #657
- For funny words…like “opine” and “uncle”
- That Maddie is packing even though she doesn’t want to
- For the knowledge that, no matter what, I am loved by somebody
- For forgiveness
- That some people respect my opinion
- For the ability to hold memories in my head and in my heart
- That I talked to God this morning
- For all the things yet to come…
Happy Thanksgiving!
Dining Out for Life
Join dozens of restaurants and thousands of diners by Dining out for Life at a participating restaurant. At least 20% of your bill will be donated to Moveable Feast. Want more information? Visit Dining Out For Life website to learn what it’s all about.
