Just Sold - Patterson Park Home, Baltimore, MD
My buyer just bought his first house!!
His goal was to buy a home in an up and coming neighborhood where the value would continue to improve and was desirable as a rental home. He will live there for 2 years and rent 2 bedrooms out. The 2 bedrooms will pay his entire mortgage.
In a couple years he'll move out, rent the whole house out, for more than his monthly mortgage payment, and use the equity that he has built to put a down payment on another house and he'll do the whole thing over again and buy a second property and continue to build his real estate portfolio. Using conventional financing provided by M & T Bank, my buyer was able to realize the beginning of his dreams for the future.
Patterson Park is an up and coming neighborhood located in East Baltimore. It is located south of Fayette Street, north of Baltimore and East Pratt Streets (north of Patterson Park) and bound by North Milton and Highland on the east. There have been 585 building permits issued over the past year, so the neighborhood is in the process of revitalization. With that number of building permits issued there are lots of fully renovated homes coming on the market for buyers.
There are a number of small neighborhood bistro's and bars and local businesses, pretty much something for everyone within easy reach. Patterson Park is also close to all the happenings in Fell's Point, Butcher's Hill and Canton. There is a Whole Foods in Fell's Point and a Safeway in Canton along with a Harris Teeter.
List Price: $269,000
Sold Price: $265,000
Seller Closing Help: $7950
Thanks to Roy Miller at M & T Bank and Valerie Kuester-Lloyd, The Title Lady at Phoenix Title for the team effort in getting this sale to close earlier than the contract date!! It takes team work to get a deal to close. The home inspector, the termite inspector, the loan officer and the title company as well as the listing agent, the seller and the buyer and their agent. It takes team work to make the dream work!!
If you are thinking of buying or selling an home in Maryland give us a call at 410-292-0100 or start your search here and we'll talk about the market conditions and what your home could possibly be worth in today's market place if you are thinking of selling. If you are considering buying a home, there is no better time than now to buy. The tax savings and wealth building alone is worth the plunge into todays market. Remax New Beginnings and I are connected with some of the brightest and best real estate agents in the world and can assist with your move here in Maryland or anywhere in the United States or abroad. Ask me how.
June Piper-Brandon ~ Associate Broker ~ CDPE, CIAS, ePro, MRP
The Traczyk Team
Remax New Beginnings