• The Real Estate Wonk writes about how Maryland will benefit from the mortgage-interest deduction
• Bubble Meter reviews an interesting housing article in Fortune Magazine
• Our friends at DCCondoLoft write about more Condominiums coming to Washington, DC

Remember, check out CondoDomain Baltimore for tons of Baltimore real estate info and news!

Photo From RitzCarlton Baltimore

And if you’re interested in buying a Baltimore area home or Downtown Baltimore Condo, contact one of our agents for details on our fantastic deals!

The Baltimore Real Estate Investing Blog writes a note to the Mayor

The Baltimore Business Journal writes that the city will be the host to a new sporting event

(Photo from Baltimore Biz Journal)

The Real Estate Wonk writes about ways for you to save cash when buying a home, even though the tax credit deadline has passed.

But she forgot one!

When you buy a home with Baltimore CondoDomain you save THOUSANDS of dollars in cash back refunds.

Contact one of our agents at Baltimore CondoDomain to find out more!

Baltimore-area rental and condo market in early ‘10

New condos have taken it on the chin in this housing market, but first-quarter sales in the Baltimore metro area were the highest in three years, according to real estate information firm Delta Associates. (There were 119 “net” deals, which accounts for contracts that fell through.)

About 1,700 new condos are ready for occupancy or under construction, so Delta doesn’t expect “price traction” until next year at the earliest. Asking prices were down 4.2 percent from a year earlier.

On the up side, the inventory was nearly 2,700 a year ago. Big drop since then….

If you’re an artist interested in moving to Baltimore – or just someone who enjoys art in Baltimore – there’s a great new project the horizon that’s sure to attract your attention.

On March 9, Housing and Urban Development (HUD) Secretary Shaun Donovan and National Endowment for the Arts (NEA) Chairman Rocco Landesman teamed up for a site visit to the new City Arts, an affordable residential development designed with artists in mind. Located in the Arts and Entertainment District of Baltimore Station, City Arts is scheduled to open in January 2011.

However, developments targeted at artists are not just for the sake of artists – the presence of people who serve to push against cultural norms and contribute to local community growth are always conducive to community development. And as everyone knows, wherever the artists choose to settle, the rest of the world is soon to follow. (Walden, anyone?)

“At the NEA, we know that artists are placemakers,” Landesman said, as reported by the NEA website. “When you bring arts organizations and arts workers into a neighborhood, the ethos of that place changes: the arts are a force of social cohesion, civic engagement, and economic revitalization. We are thrilled that the City Arts development was made possible through an existing HUD program and a forward thinking public-private partnership.”

Targeted to low- and moderate-income artists, the development will include 69 rental apartments, 8 for-sale town houses, and a professionally managed visual arts gallery and performance arts space.  11 units will also be reserved for non-elderly disabled persons from the Public Housing Waiting List.

The project is being financed as part of the Recovery Act investments, which were intended to jump-start affordable housing development. City Arts will add much to Baltimore Station’s considerable assets, which include a plethora of cultural organizations and activities, entertainment venues, and proximity to public transportation.

But just in case you can’t wait that long for housing, check out other affordable options on CondoDomain, and save thousands!

Hey guys, remember that post a while back about the Google internet project in Baltimore? Well, politicians have taken notice:

[BaltimoreSun.com]

Mayor Stephanie C. Rawlings-Blake turned Thursday to civic leaders and athletic apparel maker Under Armour Inc. for help in luring a high-profile Google pilot project to Baltimore. She also appointed a “Google Czar” to spearhead the effort.

Baltimore is one of many municipalities vying for Google’s attention. The Mountain View, Calif., company recently launched a project called Google Fiber for Communities and plans to develop ultra-high-speed broadband networks in one or more locations across the nation…

Get your running shoes on – if you’re going to manage to get some tickets, that is. A date has been set for one of Baltimore’s largest events: The Baltimore Running Festival. In 2010, the tenth anniversary of this event will take place on Saturday, October 16. (Note! This is a change from the traditional second Saturday of October to the third Saturday.)

The Baltimore Running Festival has done much for the city throughout its tenure. Since its inception in 2001, the event has provided an amazing economic boost for the city by generating $135 million in revenue for the city and state, and more than $5 million for local charities. It’s become one of the city’s top events.

“The event not only has a tremendous impact on the city’s economy, but it brings communities together with residents lining the streets to cheer for runners traveling through Baltimore’s neighborhoods,” Mayor Rawlings-Blake said.

Under Armour is the naming sponsor for the event, and has served to draw international attention to its series of five events: the Under Armour Baltimore Marathon, CareFirst BlueCross BlueShield Half-Marathon, United Way 5K, Legg Mason Team Relay, and Kids’ Fun Run (my personal favorite). Corrigan Sports Enterprises will once again produce the event.

The 2009 field consisted of a record 20,364 runners representing all 50 states, D.C. and 44 countries. And for the third straight year, all races sold out. So get your tickets soon!

Check out listings on CondoDomain to be on the field in time for this great event of Baltimore!

Baltimore Deputy Mayor for Economic and Neighborhood Development Andrew B. Frank announced his resignation yesterday, along with his intention to leave City Hall mid-May for a advisement job with John Hopkins President Ronald J. Daniels. His new job includes economic development advising, and working on neighborhood revitalization with the East Baltimore Development Initiative and the East Baltimore Community School. The massive east side redevelopment project has been long stalled, and strongly opposed by displaced locals.

Frank is a strong member of City Government and will be sorely missed. Baltimore infrastructure has seen significant improvements: the city maintained a high bond rating,  experienced population growth downtown, and the “Superblock” was completed. Previously the Executive Vice President for the Baltimore Development Corporation, he is admired by many city businessmen, who used their influence to assure that he would remain in office after Dixon’s resignation.

So why leave?

One of the highest-ranking officials from the Dixon administration retained by Mayor Rawlings-Blake, Frank claims that disagreements with the new mayor had nothing to do with his decision. However, several occurrences may indicate otherwise.

Former Mayor Dixon’s legal troubles partly stemmed from her relationship with developers, and city officials have privately speculated that Frank was considered “too close” to Dixon. Furthermore, Rawlings-Blake made several changes to Frank’s staff, “dismissing one assistant deputy mayor and demoting another. Kaliope Parthemos, Rawlings-Blake’s former assistant chief of staff and childhood friend, became Frank’s sole assistant deputy mayor,” according to the Baltimore Sun. Interesting.

She has also publicly declared that the Baltimore Development Corp. should be more ‘transparent’, and a mayoral spokesman confirmed Tuesday that Frank had lost his city-owned take-home car (a 2006 Ford Escape hybrid) after Rawlings-Blake took office.

Needless to say, whoever Rawlings-Blake chooses to fill Frank’s position with will certainly be a decision to watch. Considering the pertinence of economic issues to Baltimore, it will certainly a good indicator of her upcoming term.

If Frank’s job is anything to judge by, East Baltimore will soon be experiencing a huge redevelopment overhaul: check out listings on CondoDomain now, and beat the rush.

Jay Hancock recently wrote a neat article in the Baltimore Sun that I thought deserved a post.

Google recently announced a project on its blog, which outlines a plan to build “ultra high-speed broadband networks in a small number of trial locations across the United States.” Installing optical figer carrying a gigabit of data per second to the doorsteps of at least 50,000 homes and businesses, Google would move data nearly a hundred times faster than that broadband normally allows. Sounds awesome? It gets better. Google would pay for it all, in order to usher in a new age of Internet and increase its standing as a cutting-edge company.

According to Hancock, Baltimore is a city that should and could win a bid for Google’s project.

“Getting a piece of the project would be a publicity coup for Baltimore, a jobs generator and a jolt for local Internet development,” Hancock writes. He then goes on to detail the reasons for Baltimore’s need and merit: proximity to DC, Baltimore’s many medical institutions (Google mentions “three-dimensional medical imaging over the Web” as the first benefit), Verizon’s absence in the city, and huge potential economic improvement for the city.

Social networks are exploding with the possibility, and representatives’ inboxes are filling up with requests for the bandwith. Just think: more jobs! economic interest! better schools! better hospitals! incredible internet! Yes please. Well, you guys are Baltimore city residents. So get started! Harass your representatives to your heart’s content, and let’s make it happen!

(While you’re at it, check out some condo listings on CondoDomain. If Baltimore gets the bid, your economic standings may be improving very soon. Hello, Inner Harbor.)

Media sources were buzzing yesterday with the news that the Goldseker Foundation has granted $435,000 to a select group of Baltimore city schools. However, the grants came with some interesting stipulations: the money must be used in partnership with their surrounding neighborhoods. These joint grants serve to improve not only schools, but the community as a whole.

The Goldseker Foundation intends to build healthy neighborhoods from the inside out by improving educational standards and serving the children of the neighborhoods. Better educational standards raises property values, and the grants are expected to make the neighborhoods more desirable places to live through better upkeep of properties and stronger ties to the community.

School grants were offered between $20,000 and $50,000 for the improvement of academics in order to attract residents. Neighborhoods that received grants had already received “Healthy Neighborhoods” program grants from Goldseker, and could win $20,000 to $30,000 to support community organizing and incorporate the schools into Healthy Neighborhoods marketing.

As reported by the Daily Record, the eight Baltimore city schools which have received grants are:

• Cross Country Elementary/Middle School, which received $50,000 for technology integration (in partnership with Comprehensive Housing Assistance Inc., who receive $25,000)
• Calvin M. Rodwell Elementary received $50,000 for the WeatherBug Science curriculum (its partner Garwin Oaks Northwest Housing Resource Center got $25,000)
• Gwynns Falls Elementary received $50,000 (in partnership with Greater Mondawmin Coordinating Council, which received $25,000)
• The Neighborhoods of Greater Lauraville Inc. won a total of $40,000, for partnerships with City Neighbors Charter School, ($25,000), and Hamilton Elementary/Middle School and St. Francis of Assisi School (both $20,000).
• $35,000 each was granted to the Greater Homewood Community Corp. with Barclay Elementary/Middle School and Margaret Brent Elementary/Middle School.

My personal favorite is the Calvin M. Rodwell Elementary grant for its WeatherBug Science curriculum. Students claim that if they had used the curriculum in the first place, they would have been better prepared to inform their community about the impending blizzards. Cutest.

Although the grants will be immensely useful, only schools which bested the city average test scores were awarded the money, which seems only to further the gap between academically successful schools and many others that are struggling. Furthermore, the pattern of rewarding high test scores often leads to devaluation of a whole education in favor of drills and practice tests.

Timothy Armbruster, the president of Goldseker, claimed in a press release that strengthening connections between schools and neighborhoods “is one more step in making the city more reponsive and attractive to a wide range of families, including Baltimore’s growing middle class.”

Check out listings in these up-and-coming neighborhoods (see Lauraville or Homewood) on CondoDomain.

The culture of the coffee house has lost many of its adherents to the fast-paced, corporate cut-and-dry chains of Starbucks and Caribou. But in the Baltimore area, indy coffee shops are striking back. All the Fells Point folks are probably looking a little smug right now, but indy shops are not just for the ‘artsy’ kind. These community-centered cloisters of warm drinks and beautiful art offer a more economically-friendly option for café lovers – and usually, much better coffee.

However, finding these neat spots can sometimes be a hassle compared to the Starbucks on every corner. So for those of you interested in discovering fresh places to spend your coffee dollars – or, even better, new places to spend time reading, writing, or talking – I offer you a survey of the top independent coffee shops in Baltimore:

(in alphabetical order)

Café Latte’da 1704 Aliceanna St - A friendly Fells Point institution, this local hang-out offers an intimate space to share good coffee and fresh pastries made from scratch! With free wi-fi and a homey atmosphere, Café Latte’da is a great place to spend an afternoon. As a bonus, they even offer 2 complimentary computer stations.

Carma’s Café 3120 Saint Paul Street - A Charles Village gathering most famous for its Icelandic yogurt, this warm spot near 32nd street is worth skipping the chains. Coffee is wonderful, and breakfast is also delicious – check out specials on their daily blog. They even offer lots of yummy vegetarian options!

Chocolatea 3811 Canterbury Road – The name alone should set your mouth watering. This incredibly delicious shop isn’t exactly coffee, but its coco-lattes (chocolate drinks infused with milk, spices, and fruit) are absolutely to-die-for. They have a fantastic selection of teas, which upon request will pair with Swiss truffles. Simply amazing.

A Common Ground 819 W. 36th St - This funky café is possessed of perhaps the coolest location: a renovated Hampden row house. Offering all kinds of cozy nooks to curl up in, the coffee is locally roasted and very reasonably priced. A Common Ground may also be the best spot in the area to grab an outstanding bagel - theirs are a definite cut above the rest.

Koffee Therapy 6 E. Franklin St - Voted best coffee shop by CityPaper in 2008, their mission statement states “A great cup of coffee inspires great ideas, creativity, an entrepreneurial spirit, a sense of community, and a time to sit back, relax, and enjoy the good life.” The owners of Koffee Therapy have made it their goal to provide such a space in the culture center of Mt. Vernon. Great coffee, great atmosphere, and awesome quiches.

Red Canoe 4337 Harford Road - If you’re into fuzzy warm feelings and family-friendly spots, Red Canoe is the place for you. Doubling as a delicious coffee shop and a children’s bookstore (featuring daily storytimes!), the neighborhood of Lauraville is lucky to have such a community-focused location. Red Canoe serves Zeke’s Coffee and a large selection of incredible eats, including the best muffins in town.

Van Gough Café 300 S. Ann Street - Nope, that’s not a misspelling. Cute and still somewhat undiscovered, the new kids on the block in trendy Fells Point are on the corner of Ann and Gough in a renovated three-story brick building (the café is located on the first floor). In my opinion, Van Gough wins points for continually supplying some of the coolest artwork. But art isn’t the only thing they’re known for: Van Gough serves up a killer combination of specialty coffees, smoothies, sandwiches, salads, and Goldberg’s bagels. 

BONUS: Local coffee shop Zeke’s Coffee actually supplies the coffee for many shops in the Baltimore area. Offering a huge and unique selection of blends, Zeke’s puts West Coast roasteries to shame with their great organic options. They regularly participate in the Baltimore Farmer’s market, and are located at 3003 Montobello Terrace in Lauraville.
Check out listings for the neighborhoods of Fells Point, Charles Village, Hampden, Mt. Vernon, Lauraville, and more on CondoDomain!

Today, as a reward for reading this blog, CondoDomain is offering you the awesome deal of $25 for $50 worth of sips and savories at the (awesome) restaurant Ryleigh’s Oyster.

Sound like a scam? Actually, it’s the work of the super-saver website Groupon, one of my all-time favorite city secrets.

Group discounts have been a fixture at most commercial events for some time, but the website Groupon has updated this concept of “collective buying power.” Groupon offers a “daily deal” of 50%-90% off restaurants, classes, events, and other fun stuff for over thirty cities in the United States, including Baltimore.

Here’s how it works: you sign up for free on Groupon’s website, under Baltimore. Then, every day, you receive a Groupon email detailing a too-good-to-be-true-but-it-is deal on something going on in Baltimore. If enough people sign up for the deal, it’s all yours. Furthermore, invitations to friends go a long way in bringing this to fruition – plus the invites will earn you $10 in Groupon bucks! It doesn’t get any better than that. Whoever said a great night out had to be expensive?

Okay, so in truth, CondoDomain can’t really reward you for reading this blog. But we can save you thousands on your next real estate transaction, so check out our own money-saving model here.

Baltimore Sun photo by Algerina Perna

Brand new Mayor Stephanie Rawlings-Blake addressed the city yesterday in her first state of the city address since her election, as reported by The Daily Record last night. Her mainly economic speech focused on the budget woes of Baltimore (the city has accumulated a $120 million budget deficit). Most notably, she stated that the deficit is in fact equal to a 36-cent raise in the property tax – however, she pledged to avoid raising the property tax in Baltimore, telling City Council that “if we work together, we can pledge we will not raise property taxes to fix this budget gap.”

The property tax issue is certainly one of the first things on the minds of real estate developers and investors. Fear of raising the already steep tax is palpable as leery investors stand back and assess the health of the real estate market, the development of which would certainly be harmed by a property tax increase. Currently, Baltimore taxes real property at twice the rate of anywhere in Maryland: $2.268 per $100 of assessed value.

Whether Rawlings-Blake will be able to accomplish this goal remains to be seen. Nearly 60 percent of the city’s funds come from property taxes.

“The Great Recession has created the most difficult budget environment in memory. By making everything a priority, nothing is a priority. Our limited resources have been spread too thin, in too many areas. As a result, we now inherit a devastating $120 million deficit,” she is quoted by Daily Report.

Rawlings-Blake has been supported by fellow councilmen in this decision, one of whom claims it to be a simple “yes-no” decision.

Check out Baltimore properties on CondoDomain now, and take advantage of the low prices in today’s market!