Current Real Estate Trends in Baltimore
According to Todd Lubar, Baltimore’s younger demographic is increasing while the total population is decreasing, leading to many young professionals in the city wanting more apartment selection. Major developments in building refurbishing have produced many apartments and condominium options. Baltimore’s expanding public transportation will help people get to work downtown and from the suburbs.
Todd Lubar says the business community is starting to blossom in Baltimore and there are many initiatives to improve the business environment for companies relocating and opening their doors, which filters down to start-up companies. The cost of living is not expected to rise much, helping people who can’t afford a Washington DC lifestyle. New housing developments will have more amenities than lifelong residents are used to. The diversity of housing options is a big reason why developers are not worried about a decline of permanent residents.
Potomac Real Estate Market
Todd Lubar writes that the Potomac real estate market is one of the strongest in the country with rapid price increases. The strong economy is a driver of the appreciation. Potomac companies are hiring for quality positions, so now is a great time to look for properties. Look at current demographic trends and economic information before buying a property, because rapid growth indicates future appreciation.
Todd Lubar warns of a limited number of homes, which leads to bidding wars for each house, so find homes before they list on the market. To find motivated sellers, mail local homeowners and ask if they want to sell. You need a finance plan before making an offer on a home because rental home loans are more complicated than a typical home. Banks want to know that you plan to make money over time. The best way to get a loan is to pull all of the projected financial numbers on the property before going to the bank.
Todd Lubar is President at TDL Global Ventures and serves as the vice president to Legendary Investments. He graduated from Syracuse University with a B.A. in speech communication. For years he was ranked in the top 25 mortgage originators in the country.