I sold it before I could blog about it. Here's what you missed.....
Baltimore City has a lot of undervalued neighborhoods, Hillen is my favorite example on the east side of town. The Hillen neighborhood is located next to historic Northwood near Morgan State University. Last summer I found a wonderful home for my buyer client's on Shadyside Rd. A mere eight months later I got a call that they needed to relocate.
When my client's and I were searching for the perfect home last summer, this gem came on the market after we had already previewed 20+ properties. We knew it was "the one" right away. All brick, end-of-group, refinished hardwood floors, updated kitchen, wood burning fireplace, two full bathrooms, detached garage, fenced backyard, mature shade trees, I could go on........
Or I could just let you enjoy the pictures....
Not everyone will see this as a perfect basement, but if you've ever wanted a c.1940 notty pine paneled wet bar, this space will not disappoint!
Why is this place the bee's knee's? You can't beat the price. It's going to trade under $140,000. For any buyer who is out shopping the $120,000 - $140,000 price point, much of the inventory is just not up to snuff.
That's why this property had multiple offers after only a few days on market, a crowded open house, and appeals from agents to allow showings after it was already under contract.
I sold it before I could blog about it. I was working on getting the blog together, I had even taken pictures of my favorite nearby dining + shopping destination Belvedere Square....
So why is the Hillen neighborhood undervalued?
The closest amenity is the Northwood Plaza Shopping Center. It's simply not a contemporary destination. This large commercial area is the linchpin for the entire neighborhood revitalization. Once this plaza is revamped, the real estate values in the Hillen and Original Northwood communities should follow.
Who is going to lead the charge on the Northwood Plaza Shopping Center Revitalization? My money is on Morgan State University. They have the most to gain and they've already started building on an adjacent lot. I've kept my eye on this area for years, my husband is an alumni of the architecture graduate program. Hillen is also my go-to neighborhood when I've done leasing for Morgan community members.
So how did my client's do on property values after only owning the home for less than one year?
We've achieved a result 12% higher than Summer 2013.
I knew we had a serious deal on our hands when we closed on the house last year.
Broker / Owner Guerilla Realty and
Vice President Tranzon Fox Auctions
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