Reply to Do we stay in DC or move to Baltimore?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]If you bought in Baltimore 20 years ago, you would have doubled your money by now.  If you bought between 1990 and 2000, closer to  tripled.  Future trends are not as predictable as most on this thread seem to believe.

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Subtract inflation, insurance, and taxes.  Plus calculate all of the money you lost by not investing the losing difference in taxes in baltimore vs elsewhere that's cheaper.  Baltimore is a terrible investment.  ROI is barely positive if you're lucky. And [b]when it comes time to sell it can be very difficult[/b]. [/quote]

My friend, properties are flying off the shelf right now. Whatever you're having trouble selling must be pretty bad, because the market is at least quite warm. It's not red-hot/overheated, which is why OP wants to move here, but it's solid. Are all your memories from 2009 or something?

Let's try some numbers instead of speculation.

5 year trends:

[b]Washington DC[/b]
Median sale price: $682k
Year-over-year increase: +10%
Median days on market: 29

[b]Baltimore[/b]
Median sale price: $198k
Year-over-year increase: +23%
Median days on market: 30

Of course, a 10% increase on $700k is a lot bigger than a 20% increase on $200k! But they are entirely different markets. It's a different game. Some prefer one, some prefer the other. Real estate investors can do very well here (I have a dear friend who is one) but only if you know Baltimore. Baltimore is NOT Washington DC. Invest like it is and you'll lose your shirt, and will deserve it.
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Gimme the 10% on $700K in an area with far lower crime and taxes please.  Thanks![/quote]

If you're excited about spending $800k on a tiny TH then you're obviously going to be happy in DC. You're welcome to it. Enjoy! [/quote]

It is amusing to me that the dc boosters who feel the need to post here don’t realize that their gentrifying dc neighborhoods cost twice as much neighborhoods with less crime in Baltimore.  To each his own.  These are the same folks who can’t figure out that even with a higher property tax rate, it costs much less to buy a comparable sized property in Baltimore.  Math is hard.  I can think of m several good reasons to prefer dc, but these are it.[/quote]

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