Sunday, April 02, 2006

Rowhouse for Sale in Canton


"Located in the heart of canton (walk to the square, patterson park,can company,etc.),this 2 story thwse is a winner:refinished original pine floors,tons of exposed brick,pella wood windows. New kitchen features maple cabinets, stainless appliances, granite countertops and practical breakfast bar. Bathrooms offer italian marble tile; 2nd floor laundry. More! New rubber roof in 8/05."




2Br, 2ba, built 1920. It is long and narrow the rowhouse. The house is located in a neighborhood called Canton which is a pretty area of historic rowhouses next to the Baltimore waterfront. Located at 715 S Milton Ave in Baltimore, MD. MLS # BA5515257.

It is priced at $349,900. It has been on the market for 66 days without any price reduction.

Will it sell at this price?

17 comments:

  1. virginia investorApril 02, 2006 12:52 PM

    David,

    What is the price?

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  2. virginia investor,

    Thanks for the catch. I updated the post.

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  3. kidding me..199k no more. Accept it or take a hike

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  4. He'll get 325k and take a hike in Northern Italy with his profits.

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  5. Isn't that the neighborhod where they created and filmed the TV show "Homidice"? Didn't notice that detail on the listing.

    Surfer-X;

    Is that condiered part of Little Italy? Seemed a bit too far east.

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  6. It's a cute house but is this the main hallway? Is that the living room down at the end of the hall? Or is that just a waiting area?

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  7. "It's a cute house but is this the main hallway?"

    These rowhouses are so narrow that there usually is no hallway on the renovated rowhouses.

    "Is that the living room down at the end of the hall? Or is that just a waiting area?

    Yes it is the living room.

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  8. It's well done inside and a in decent location, but Baltimore is still Baltimore. $175K would be reasonable.

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  9. virginia investorApril 02, 2006 7:56 PM

    Does anyone know what this would go for in a similar D.C. neighborhood and also what it would rent for in Baltimore?

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  10. How much was this worth 4 years ago?

    I bet (although I have no idea) that it was a lot less than 175K.

    What is different now than 4 years ago?

    A Redskins fan (who loves Baltimore, but wouldn't pay much to live there)

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  11. My wife bought a Canton rowhouse in 1990 for $60,000. Sold it in 96 for $75k. I had a home near JHU bought in 92 for 100k, beautiful neighborhood. Sold in 2000 for not much more. I can't even look to see what that goes for now. I would be retired very early if we had held, but who knew. Bmore population was declining.

    On the upside I did land in San Diego, bought/sold there.

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  12. He could have got that a year ago. The only people in Baltimore that can spend that much on a rowhouse is someone with a DC job. And with inventory through the roof in DC, why live in Baltimore? Baltimore is just as overvalued as DC and will fall the same.

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  13. He'll absolutely get it. I am currently looking for a house in Baltimore County and am amazed at what people will still pay for a house here. At $350K, that house will have an almost $8K a year property tax bill, but Canton, among a few other places, is the "place to be" if you want to live in the city. Parking around there is a b****, though. But our local paper just ran a puff piece on Sat about how our market isn't a bubble, even though it's strongly linked to DC people escaping the high prices there. Funny how it never mentions their bubble situation and how it would affect people moving back to avoid the horrendous traffic and high gas prices. They also said that certain areas are a bigger risk, such as high-end homes (try to find new SFH construction for less that $500K here, homes in outlying areas (that's everywhere, now!), and condos.

    One realtor said that if we have a landing at all, it will be soft, but now it's still a seller's market, blah, blah. An article parading as news but providing no statistics, even as it quotes a published paper from JHU. There may be a small risk of a huge price drop, as we do not have a glut, yet, but what about a moderate price drop? They refuse to address the most likely scenario and focus on the worst case, so when prices here only decline by 15%, they can spin it and say, At least it wasn't 20%!

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  14. Nikki said...

    "But our local paper just ran a puff piece on Sat about how our market isn't a bubble, even though it's strongly linked to DC people escaping the high prices there."

    Don't have a link handy but I read recently how the Baltimore Sun (not that I ever held the paper in high regard) turned their entire RE section over to control of the advertising department; i.e., no editorial input. The whole section is now by definition 'puff piece'. And the commute from Canton to Camden Yards just to catch a train to DC strikes me as more work than it's worth. Suppose you had to Metro from Union Station in DC too... ugh.

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  15. Zillow.com estimates its value at $233K. In its row Zillow's prices go from $203K to $302K. $350 seems high.

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  16. "Zillow.com estimates its value at $233K. In its row Zillow's prices go from $203K to $302K. $350 seems high."

    This place is a high quality renovation.

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  17. Looks like it's still sitting. And no, I doubt it will sell at this price.

    "Zillow.com estimates its value at $233K. In its row Zillow's prices go from $203K to $302K. $350 seems high."

    Zillow.com itself admits its statistics aren't always accurate, not even close in some cities. But I agree, I'd see this one being more around $300, it's a bit small even for Canton. A lot of sellers still have the mentality of last year, and buyers are a bit more careful now, less of a frenzy here.

    While I do think prices are inflated in Baltimore and I could see deflation of 10%-20% in some neighborhoods, I think it will rebound again in the next 5 years. Is that a bad thing? You've got to look long term, how could we expect houses to double in value here over 5 years and not have a market adjustment? With the new medical campus developments and BRAC bringing jobs to Meade and APG, there will be plenty of new people in the area. And, surrounding counties are limiting new development. I myself am presently looking in the city AND I work in the city. Not everyone buying these places is a DC commuter. Baltimore, at least around the harbor, is really turning some things around. IF the yahoos in office can get it together and fix the infrastructure and crime issues and lower property taxes, the city has a lot of growth potential to come.

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