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September 1, 2009

Buying Into Baltimore

Live Baltimore's big home-buying fair and tour, Buying Into Baltimore, offers $3,000 as a first-come, first-served incentive to buy a city home. More than 650 have been bought with those sweeteners since the first event in 1998, and they're everywhere -- from Woodberry to Middle East, from Walbrook to Fells Point.

Live Baltimore, a nonprofit that wants folks to take a hint from its name and live in Baltimore, compiled this statistic as it prepares its latest Buying Into Baltimore event, scheduled Sept. 12. (Pre-registration information here.)

The $3,000 -- which can be used toward closing costs or down payment -- is a city loan that turns into a grant after five years. Fifty are up for grabs. Detailed details are here, but in general, buyers qualify by getting homeownership counseling, participating in the event's home tours and buying a place within 90 days afterward. (You don't have to choose one of the 16 homes on the tour, but you do have to buy in the eastern half of Baltimore. The spring fair focuses on the west and the fall fair on the east.)

"Our Buying Into Baltimore program is mostly designed for first-time home buyers," said Anna Custer, executive director of Live Baltimore. "All of those homes we feature ... are under $250."

Many of the participants aren't planning big moves. Nearly three-quarters of the 500 people who showed up for the spring Buying Into Baltimore event were already Baltimore residents.

Some of the out-of-towners were from the Baltimore 'burbs, some from Washington and some from New Jersey. (New Jersey is the home of Fort Monmouth, due to send thousands of jobs to Aberdeen Proving Ground in Harford County as part of base realignment and closure.)

Live Baltimore bused in BRAC relocatees for the spring event. This time, it's got an overnight trip planned with a BRAC-only tour the following day.

Posted by Jamie Smith Hopkins at 7:00 AM | | Comments (11)
Categories: First-time home buyers, Housing events
        

Comments

As a city resident, I think it's great that Live Baltimore is trying to do this. However, as a city resident again, I do not see much success from these tours. Sure, you'll get a few people to move into the city, but most of these people will not find the city too appealing. First, the drive is a little long for folks with jobs moving to Aberdeen and those that are moving to jobs near Ft. Meade have nicer areas around Columbia to choice from. Most first time home buyers will go along with the new thinking that people have had to face and say, "what if I have to stay here 5-7 years?" The city is not the best place to raise a family and the BRAC workers have good jobs and good salaries so what is their real desire to move into the city? There are plenty of much nicer areas to live closer to their jobs.

What IS the best place to raise a family?

From our house we can walk or ride a bike to a movie theatre, an opera house, the symphony, a city park and the zoo, restaurants, universities, art galleries and museums, sports and concert venues, three light rail stops, Penn Station...and the world.

Their real desire to live among walkable culture instead of car-centric suburbs might compel them to at least take a look at this city of vast potential.

M's right, though, what if they start a family and stay for 5-7 years? Then it all comes down to the schools. Are they on the tour?

Why in the world would you want to live in Baltimore City? High property taxes, awful police, high crime, terrible schools? I was a city resident for 20 years and it is not worth the 3000 dollars.

TBN, I agree that the City has a lot to offer, which is why I live in the City. Anyone single or not interested in a family would really enjoy the City. However, city schools are terrible, crime is bad in most areas, and personally, I don't want my children growing up in the city. Plus, if you want to have a few kids, most city homes can get pretty cramped.

Nothing against people that decide to raise families in the city, it's just not me. That is why I am moving out as soon as I am able to sell.

Plus a city government that gives preferential bids, engages in overt cronyism and shake-downs, and a mayor under indictment for 4 counts of perjury, 2 counts of misconduct, 3 counts of theft, and 3 counts of fraudulent misappropriation.

I am a pragmatist at heart, and am not too offended by politicians bending the rules for the common good... but this is just too much.

I have several friends who moved out of the city because they were afraid that Mayor Dixon's plans for the city framed them as an "oppressor."

This program will have little success. No one working at APG is going to want to commute from Baltimore. I appreciate the desire to get new home owners into Baltimore, but this is not the way to do it.

There is only so much money for programs out there, and this is a foolish way to spend it.

I recently moved to Baltimore City after I got a BRAC related job at Aberdeen Proving Ground. For a young professional who has previously lived in Boston, Baltimore is a very attractive city and affordable. The 30 mile commute takes 30 minutes and is traffic free in both directions. The only people I hear complain about the crime are my co-workers who live in Harford and Cecil County.

Let's see give me $3,000 then take it back in the next tax bill then take an extra $3,000 for the next 20 years or till I am shot. let me think about that one. I 'll take my chances living in the subs. It's bad enough I no longer feel safe walking in Baltimore. Clean it and they will come!

I live in the city and work up in Aberdeen--it is an easy commute--way easier than living outside the city and commuting downtown. I don't know why any reasonable person wouldn't consider it as an option.

I certainly support the program. Anything to get employed people to stay and move to the city can only help. Baltimore is still moving up and 15 years from now all the naysayers are going to look back and say 'I should have bought before condos cost a million bucks'. Just like NYC in the 80s. Remember the alleged crime - no one wanted to live there and it was cheap. There was tv show after movie about the crime. (Ever hear of the wire) Now you cant park your car in NYC for less than what a house costs in west bmore.

There is plenty of crime in Harford county, especially Edgewood and Aberdeen. Traffic along Route 24 and 924 is congested and it can take as long to get to APG from Bel Air as it would from downtown Balto.

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About Jamie Smith Hopkins
Jamie Smith Hopkins, a Baltimore Sun reporter since 1999, writes about the regional economy. Her reporting on the housing market has won national and local awards. Hopkins is a Columbia native and has lived in Maryland all her life, save for 10 months spent covering schools in Ames, Iowa.
She trained to become a wonk by spending large chunks of time as a geek and an insufferable know-it-all.
Baltimore Sun articles by Jamie
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