Results 1 to 2 of 2

Thread: Housing market in Baltimore?

  1. #1
    Senior Member Lillionaire's Avatar
    Joined
    Jun 2010
    Location
    MD
    Posts
    166
    Thanks
    63
    Thanked 43 Times in 22 Posts

    Default Housing market in Baltimore?

    Thinking of purchasing a house this year in Baltimore, MD, downtown area. I'll be there for the next three years for college (with my brother and his girlfriend, who are also renting apartments). I was thinking it'd be the right time and a good idea to buy my first place, put in down payment and start paying mortgage... Then when school's over and we're ready to move out, I could rent the place out to other students.

    Any input or advice on how to get started, or whether or not I should? I don't see any reason why not...

  2. #2
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: Housing market in Baltimore?

    well, just a few thoughts ...

    the area's housing market price levels are predicted to fall further ... see

    Washington is starting to seriously talk about ending the home mortgage interest tax deduction, at least for those homeowners with higher incomes and lower equity ... see

    even without possible tax changes re home ownership, the cost of renting has never been closer to the cost of owning - and in many larger cities the cost of renting is actually lower than owning... see


    as far as 'getting started' towards buying a home, there are really two issues. The first is saving up about 25% of the price of the house you plan to buy. This will cover closing costs plus a 20% down payment capability that will improve your chances of being approved for a mortgage. The second is documenting your income ( via copies of tax returns etc. ) so that a prospective lender can comply with new income verification requirements for prospective mortgage borrowers.

Similar Threads

  1. The housing market and the dollar
    By Vamp in forum Dollar Den
    Replies: 3
    Last Post: 11-30-2006, 04:57 AM
  2. Replies: 9
    Last Post: 08-25-2006, 11:42 AM
  3. No Crash Forcasted in Housing Market
    By ~Nikki~ in forum Dollar Den
    Replies: 19
    Last Post: 06-24-2006, 03:03 AM
  4. Arizona Housing Market
    By Melonie in forum Dollar Den
    Replies: 28
    Last Post: 12-22-2005, 10:50 AM
  5. Replies: 17
    Last Post: 03-30-2005, 04:54 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •