We spend most of the time on the Baltimore Condo Loft, and at CondoDomain.com, talking about new home opportunities, neighborhood developments that may influence where you want to live and generally have a lot of information and insight to help you find the best new place to live in Baltimore. Today we’ll take a quick break to talk about something that can help you and your friends connect on Baltimore Condo Loft.

As well as ensuring the quickest page loads possible, our blogs have all been socially mobilized. We’ve got friends! Why not take two seconds to show us some love on Facebook? Now you can comment right onto our blogs straight from your Facebook account. Try it out! Voice your opinion or call for action with your Facebook account in the comments below!

The Leading Online Broker for City Real Estate Solidifies Growth Plans by Securing Capital and Adding Industry Leader Bret Violette to the Board of Directors

New York, NY – January 11, 2011 – CondoDomain continues to enhance its value for customers, build its executive team and expand operations. The company just closed a significant private investment round led by angels including several industry leaders including Bret Violet. The company is the leading national real estate broker focusing exclusively on the specific needs of city condominium, loft and townhouse homebuyers with a superior online experience, expert local agents and cash refunds to clients.

“This capital will allow us to grow our current markets, expand brokerage operations into the balance of the top-twenty U.S. cities and will enable us to ensure that our technology and employee infrastructure are up to the challenge” said President & COO Hoyt Morgan. “Bret’s addition to the team gives us an unbelievable resource as we make key business decisions.”

Bret Violette, winner of the Inman 2005 Innovator of the Year Award and elected to Inman’s 100 Most Influential Leaders (brokerage category) in 2007 & 2008, teams up with CondoDomain’s Founder and CEO, Anthony Longo, who was recently nominated for the 2010 Inman Innovator of the Year Award.

“I am excited to join Anthony, Hoyt and the CondoDomain team,” said Bret Violette. “This company has the technology, web presence and agent philosophy to dramatically change the city real estate landscape for the better – in fact they already are doing it. Our super-efficient business model means we can do more with less and the biggest winner here is our customer.”

As an executive consultant and member of the Board of Directors, Bret’s role will be expansive. His key focus will be assisting with the implementation of technology and methodology to enhance the customer experience, expanding the current agent recruiting, hiring and training programs, and solidifying the 100% in-house real estate agent experience. Prior to joining CondoDomain, Bret was most recently President of RealEstate.com where he started and grew the brokerage operation in 20 markets, to 1,500 agents and to over $30M in revenue, all in three years. He has also served as President of Weichert Lead Network and Weichert Rental Network, as well as CFO and VP of Business Development for YHD Foxtons.

CondoDomain is a premium real estate brokerage, offering best-in-class online and agent experiences. The team’s experience in premium real estate service, new model real estate and building great real estate brands and businesses will help continue the company’s aggressive growth and most importantly enhance the company’s commitment to the customer.

About CondoDomain.com

CondoDomain is a web-based real estate broker that focuses entirely on condominiums, lofts and townhouses in metropolitan markets. The company is one of the first to offer cash back to clients and the only one that does so AND focuses exclusively on urban markets across the U.S. CondoDomain websites and agents have helped hundreds of city homebuyers find the perfect home…and save money!

CondoDomain’s commitment to clients centers on three core principals:

1. We promise to deliver a best in class website, giving city homebuyers tools to access property information easily and transparently.
2. We combine the online world and offline world with our highly educated,professional and city-expert in-house real estate agents whose #1 priority is to provide fanatical customer service to our clients.
3. We offer a cash incentive to work with CondoDomain by refunding 20% of our commission to our clients.

CondoDomain. Smart Agents. Smarter Clients.

To learn more about CondoDomain, see how cash back can work for you and/or to meet an amazing real estate agent in your local city please visit:www.CondoDomain.com.

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.

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.

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!

If you’re looking to buy in the super-luxury market in Baltimore, you’re in luck – the Ritz-Carlton has avoided its debt crisis.

RXR Realty, the developer for the beautiful new Ritz-Carlton on the Inner Harbor, recently announced that it has secured a $176 million loan to refinance the project, as reported by the Baltimore Sun just yesterday. This step will allot RXR a three-year extension to market the many unsold units. In fact, only 23 of the 190 units have been sold since its opening (most famously to novelist Tom Clancy).

The Ritz-Carlton is set in arguably the most beautiful spot in Baltimore, on Key Highway over looking the Inner Harbor. Its stunning views of the skyline and convenient location compliment unparalleled style and luxury and the Ritz-Carlton five-star service.

Floor-plans include one, two, and three bedroom units, all of which have exquisite finishes and the finest accoutrements, from rich hardwood flooring to distinctive moldings. Ritz Carlton Baltimore provides residents ultimate luxury right in downtown Baltimore. The combination is simply incredible. Condos for sale range from the upper $600,000s to more than $5 million.

RXR’s refinancing holds several important implications for the city of Baltimore. The marketing of these units will attract higher-income taxpayers to alleviate the city’s financial burdens and the strain on the middle class. Furthermore, the fate of the Ritz is sure to inform development decisions concerning future luxury condominiums, adding weight to the outcome of the property.

Check out CondoDomain’s listings for the Ritz-Carlton Residences on the Inner-Harbor, and schedule a tour with us!

A couple recent reports offer further encouragement concerning the real estate market in Baltimore!

1. The Baltimore Sun recently reported that “more homes were sold last month – and for more money on average – than a year earlier in the Baltimore metro area.”

Metropolitan Regional Information systems released the numbers Wednesday, and it’s good news. Home sales are up 9% from last January: about 1,100 were sold, and the average sale price increased by just over 2 percent at $272,000. Furthermore, “average buyers last month got homes for about 11 percent below their listing prices.”

With prices beginning to rise, the extension of the first-time home buyer credit until November, and the snowstorms officially past (knock on wood), times are looking good to get that condo on the water you always wanted.

2. RealtyTrac has also released reports that, although the national foreclosure drop for January was 10%, Maryland’s foreclosures have actually dropped by 23% from December, as reported by Gazette.net. (Points for beating the national average by over half!)

Make a move now: check out CondoDomain for Baltimore listings, and see how we can save you thousands.

As we struggle to pull out of the Great Recession, there’s no doubt that the crash of the housing market greatly contributed to our current economic status. Using the real estate market as a temperature gauge for our current status works well, and RealtyTrac has released the latest results on the housing market for January -and although they are initially encouraging, the future may still hold trouble ahead (I know, that’s just what you wanted to hear. Let’s hope they’re wrong.)

According to the data report from RealtyTrac, filings for foreclosure in January were reported on 315,716 properies – 10% less than December, but still 15% up from January ’09. The data includes mortgage default notices, house auctions and home repossessions by banks.

While this looks like good initial news, the original story in Reuters also reports: “While January’s decrease may indicate foreclosure prevention efforts are gaining traction, the data has been volatile in recent months and foreclosure appear poised to rise again.”

While unemployment rates have begun to slightly improved, the 9.7% of those who are still unemployed are preventing monthly mortgage payments. Furthermore, this encouraging 10% drop was also exhibited in 2009 – “January foreclosure numbers are exhibiting a pattern very similar to a year ago,” RealtyTrac’s chief executive officer James J. Saccacio wrote in a statement to Reuters. He also stated that if past behavior was any measure, a surge in the numbers over the next few months was to be expected.

Clearly, the best news in this market is that this is the perfect atmosphere for first-time home buyers. Obama will even send you a check for your purchase – and so will we.

Capitalize on the market now, and check out CondoDomain for up-to-date listings.

Read the whole story at Reuters.

Although the weather outside may be coaxing your thoughts towards your dream retirement in South Florida, take note! The best spot to retire might be right in your own backyard.

As Jamie Smith Hopkins first reported earlier today, Where to Retire magazine has released results for the “eight hippest cities to live in America” from it’s upcoming March/April issue  – and Baltimore has been included.

“Baltimore has a vibrant, revitalized waterfront, museums, world-class medical facilities and everything from historic brownstones to new luxury townhomes,” Hopkins cites magazine editor Mary Lu Abbott as saying.

Furthermore, another requirement for qualification is “unusually good buys in housing.”

Baltimore has often been touted as one of the better urban locations for retirement, but its high ranking in Where to Retire should encourage you further unto its merit.

Within the city of Baltimore, Mt. Vernon has historically been counted among the best neighborhoods for retirement. Known as the lively cultural center of Baltimore, it offers an excellent option for retirees seeking to avoid suburban monotony. A historic location set right in the heart of the city, it offers easy walking access to the beautiful Inner Harbor. Culture gurus will also enjoy the proximity to the symphony hall, opera house, the Peabody Library, and the Walters Art Museum. For an avant-garde taste, Theater Project is also nearby.

But hey – Mr. Vernon clearly isn’t just for those seeking to retire. Mt. Vernon is a great location for young professionals as well – or anyone else desirous of a diverse, cultural urban center near the water.

Contact Simon Warner for information on condominiums in Mt. Vernon, or check out other listings for Baltimore condos!

Still convinced that warmer is better? Well, Fort Worth, TX was also listed as one of the hippest spots to settle down, so you can also check out our Dallas area site for up-to-date information on condo listings down south.

Putting this Whitepaper together was almost as exciting as engaging in the real estate brokerage community this year.  For all of you who have followed us through social media and our blogging efforts… and for all of you who have met us or become a client of ours: you all know we like to have fun along the way!

Well, while all of that fun that is publicly displayed, there is actually quite a bit of work that went on behind the scenes.  I believe that this CondoDomain Year 1 Review reveals our true colors.

What will you find in this report?

i. Transactional Data / Commission Refunds
ii. Negotiation Advantage
iii. Demographics
iv. Customer Satisfaction
v. Why CondoDomain
vi. 2009 Corporate Forecast

Heck, its short enough….check it out.

Like Redfin’s similar real estate annual reviews, Ill let the statistics do the talking.

Congratulations to all of our team members here at CondoDomain for an outstanding 2008 and congratulations to all of our new clients and friends of the firm.

2009 is set to be an even bigger year.

DOWNLOAD THE 2008 ANNUAL REPORT