Marc Hayes, Realtor

09/21/2024

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09/08/2024

Real Estate Investing:Sparrows Point, Baltimore with Marc Hayes, Realtor

Sparrows Point, located in southeastern Baltimore, has a rich industrial history tied to the Bethlehem Steel Corporation, which operated one of the largest steel plants in the world. The plant was a major employer, shaping the community from the late 19th century until its closure in 2012. Over the past decade, the area has been transitioning from its industrial roots into a hub for residential, commercial, and logistics development, with the rise of the Tradepoint Atlantic development, which repurposes the former steel plant site for modern industry.

Sparrows Point is bordered by the Patapsco River to the west and north, Dundalk to the west, and Edgemere to the south. Major roads such as Sparrows Point Boulevard and North Point Boulevard serve as key access routes. The neighborhood has a mix of industrial and residential areas, with growing interest from developers due to its proximity to major logistics hubs and the waterfront.

The median household income is approximately $50,000 to $60,000, with a racial composition predominantly White, followed by a smaller percentage of African Americans and Hispanics. Sparrows Point’s demographic is also shifting due to new housing developments and the arrival of younger professionals working in logistics and nearby industries.

The housing market in Sparrows Point offers a mix of older single-family homes, many dating back to the mid-20th century, alongside newer developments and townhouses. The available housing inventory consists primarily of homes priced between $250,000 and $400,000.

Housing Availability: Approximately 20% of the housing stock is currently on the market, reflecting a relatively low inventory that creates demand pressure. The housing supply is expected to increase with new residential projects on the horizon.
Corporate-Owned Properties: Corporate entities, including major players like Blackstone and other institutional investors, own about 10% of the residential housing stock. l

Sparrows Point presents a unique opportunity for both investors and homebuyers. The neighborhood is undergoing transformation, driven by the large-scale redevelopment of the former Bethlehem Steel site into the Tradepoint Atlantic logistics hub, which has attracted companies like Amazon and FedEx. This industrial growth is increasing demand for nearby housing, both for rentals and ownership.

For potential investors, there are opportunities to acquire homes that could appreciate as the area continues to develop. Long-term rental potential is also strong, with a growing number of young professionals and logistics workers moving into the area.

Investing in Sparrows Point offers a chance to get in early in a neighborhood with significant growth potential due to its industrial transformation and proximity to Baltimore’s waterfront and logistics hubs.

08/23/2024

Real Estate Investing in Ashburton, Baltimore with Marc Hayes, Realtor

Overview of Ashburton
Ashburton is a historic and predominantly residential neighborhood located in the western part of Baltimore, Maryland. Known for its well-maintained homes, tree-lined streets, and strong sense of community, Ashburton has long been regarded as one of the city's more stable and desirable neighborhoods. The neighborhood is characterized by a mix of single-family homes, row houses, and a few multi-family units, making it appealing to a variety of homebuyers and investors.

Housing Inventory
The housing inventory in Ashburton primarily consists of well-preserved homes built between the 1920s and 1960s, showcasing classic architectural styles like Colonial, Tudor, and Cape Cod. As of the latest data, the neighborhood has approximately 1,200 residential properties.

- Available Housing Approximately 8% of the total housing units in Ashburton are currently on the market. This translates to about 96 homes available for purchase. The available properties range from smaller, more affordable row houses to larger single-family homes with significant square footage and yard space.

- Occupied Housing: About 92% of the homes in Ashburton are occupied, either by homeowners or tenants. This high occupancy rate reflects the neighborhood's stability and desirability, making it a less speculative but more secure investment environment.

Investment Potential
For investors, Ashburton presents a unique opportunity. The neighborhood's stability, combined with its historic charm, makes it an attractive location for long-term investments. Here are some key considerations:

- Property Appreciation: Ashburton has seen steady property appreciation over the years. While it may not offer the rapid gains found in more volatile markets, it provides consistent and reliable growth, which is ideal for conservative investors.

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- **Development Opportunities**: While much of Ashburton is already developed, there may be opportunities for investors interested in renovation or rehabilitation projects. Restoring older homes to their former glory can be a profitable venture, given the neighborhood's appreciation for its historic character.

Conclusion
Ashburton stands out as a well-established, stable neighborhood with a strong community spirit and a rich architectural heritage. The limited availability of homes for sale, combined with high occupancy rates, reflects a high demand for housing in the area, making it a solid investment choice. With quality schools and a supportive community, Ashburton is also an ideal location for homebuyers looking for a family-friendly environment. Investors looking for long-term appreciation and reliable rental income will find Ashburton to be a promising addition to their portfolio.
realestateinvestor

08/13/2024

The Corporate Takeover of Baltimore Residential Properties
Blackstone, along with other large private equity firms, has become increasingly active in acquiring single-family properties across the United States, including in Baltimore City. These corporations view single-family homes as lucrative investment opportunities due to the stable and often increasing rental income they can generate. This trend has raised concerns about affordability and availability in the housing market.
Blackstone's strategy in the single-family housing market involves purchasing large numbers of homes, often in bulk from distressed sales or through foreclosure auctions. After acquiring these properties, they typically renovate them and rent them out, capitalizing on the strong demand for rental housing, particularly in urban areas like Baltimore.
While exact numbers can fluctuate due to ongoing transactions, it's estimated that Blackstone and similar firms collectively own thousands of single-family homes across Baltimore City. Blackstone itself, through subsidiaries like Invitation Homes, has been particularly active. These corporations often target middle-income neighborhoods where rental demand is high, allowing them to achieve a steady cash flow.

As of the latest available data, Blackstone and its associated entities are believed to own approximately 3,000 to 5,000 single-family properties in Baltimore City. This makes them one of the significant players in the local real estate market.

Looking ahead, Blackstone and similar private equity firms are expected to increase their holdings in Baltimore City. Given the current trends, projections suggest that these corporations could own as many as 10,000 to 15,000 single-family homes within the next five years. This projection is based on continued investment in the Baltimore market, driven by the city's relatively affordable real estate prices compared to other major metropolitan areas and the potential for significant rental income growth.

The aggressive acquisition of single-family homes by corporations like Blackstone has raised concerns about its impact on the local housing market. Critics argue that this trend could exacerbate housing affordability issues, as it reduces the supply of homes available for individual buyers, particularly first-time homeowners. Additionally, the conversion of these homes into rental properties can drive up rental prices, making it more difficult for local residents to find affordable housing

The involvement of corporations like Blackstone in the Baltimore City real estate market is likely to continue growing. While this trend presents opportunities for these firms to generate substantial returns, it also raises important questions about the future of homeownership and affordability in the city. As these corporations expand their portfolios, the local housing market may experience significant shifts that could affect residents, real estate professionals, and policymakers alike.

07/30/2024

History of Govans Neighborhood in Baltimore by Marc Hayes, Realtor

Govans is a historic neighborhood located in the northern part of Baltimore, Maryland. The area dates back to the late 18th century when it was primarily farmland. It became more residential in the 19th century as transportation improved, with the York Road serving as a key route for travelers and traders. The neighborhood saw significant growth in the early 20th century, with the construction of row houses, single-family homes, and apartment buildings, reflecting a variety of architectural styles.

Street Boundaries
North: Northern Parkway
South: Cold Spring Lane
East: Harford Road
West: Falls Road

Current Housing Market
The housing market in Govans is diverse, featuring a mix of single-family homes, row houses, and apartments. As of mid-2024:
Average Home Price: Approximately $250,000
Average Square Footage: Around 1,500 square feet

Area Demographics
Govans is known for its diverse population. The latest census data provides the following insights:
-Race:
African American: 65%
White: 25%
Hispanic: 5%
Asian: 3%
Other: 2%
Income:
Median Household Income: Approximately $50,000
Income Distribution:
Under $25,000: 20%
$25,000-$50,000: 30%
$50,000-$75,000: 25%
Over $75,000: 25%

Future of Govans
Govans is poised for growth and development, making it an attractive area for homebuyers and investors. Key factors influencing its future include:
Community Revitalization: Efforts to improve infrastructure, parks, and public spaces are underway, enhancing the quality of life for residents.
Proximity to Amenities: The neighborhood is close to schools, shopping centers, and public transportation, increasing its appeal.
Real Estate Trends: With a relatively affordable housing market, Govans offers opportunities for first-time homebuyers and investors looking for value appreciation.

Conclusion
Govans is a neighborhood with a rich history and a promising future. Its diverse population, affordable housing market, and ongoing community improvements make it a desirable place to live and invest in. For those looking to buy or invest, Govans offers a mix of historical charm and modern conveniences.

References
1. Baltimore Neighborhood Indicators Alliance (BNIA)
2. U.S. Census Bureau
3. Real estate market analysis reports

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History of Govans Neighborhood in Baltimore by Marc Hayes, Realtor Govans is a historic neighborhood located in the northern part of Baltimore, Maryland. The...

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