Homes for less than $10k and other craziness (housing market, mid-2011 edition)
Photo by Sun photographer Jed Kirschbaum
Want a home for less than $10,000? You wouldn't be alone: About 275 of the properties changing hands in Baltimore during the first half of the year fell in that price range.
That's one out of every 10 home sales in the city.
That's more than the number of under-$10,000 Baltimore homes that sold in 2009 and 2010 combined.
That's a bigger group than the number of homes selling for $750,000-plus in the entire metro area.
And that's just one of the tidbits in the mid-year 2011 housing-market story, the every-six-months exercise in number-crunching and mapping that I hope you'll find interesting.
Here's the linkage (and a few details about that photo above):
You can read the story.
You can check out interactive maps showing the change in average prices and buying activity (both for the region's ZIP codes and the city's neighborhoods). Kudos to colleague Michael Workman for putting this together.
You can splash around in the numbers with this searchable database of ZIP codes. Three cheers for colleague Patrick Maynard for making this possible.
And you can have fun with photo galleries, one showing the most expensive suburban communities and city neighborhoods and one showing housing-market extremes. Brownie points to colleague Liz Hacken for turning the numbers into a visual experience.
Enjoy, I hope!
As for the photo: That's the interior of a home on Archer Street in Baltimore that a real estate investment company recently bought for $5,000. AORE Investments expects to put $55,000 in the rehab, which you can see will have to be substantial.
The purchase price is so low that the settlement costs add up to nearly as much. But this home is far from the cheapest transaction in the first half of the year. For details on that, you'll have to read the story.
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Comments
People will have the chance to own a home because of the continuous downfall of home market value. And investor should grab this opportunity to grab this properties and wait until the appreciation of the property happens.
Posted by: Michael Stephen | August 23, 2011 7:54 AM
What an opportunity for those who could not afford to buy a house to get one now. Once a new cycle of house price rise start, we wont see such an opportunity for another generation.
Posted by: Warren | September 3, 2011 8:19 AM