Case Study: How Maryland Homebuyers Can Save in a Sellers Market

A combination of historically low interest rates and low supply have created a favorable housing market for sellers in the Greater Baltimore, MD area. Low interest rates are effectively providing Baltimore homebuyers with the ability to purchase much more house for their money.

Heise & Co. recently represented a buyer in purchasing a property in Catonsville, MD, traditionally an area with a lower inventory of quality offerings. The house that our client purchased was an attractive home with many upgrades in the Colonial Gardens neighborhood.

The house was on the market for just four days during which the seller received four offers. As the agent representing the buyer, we helped place our client in the winning position by employing a multi-pronged strategy that made his offer the most attractive even though it did not net the seller the largest amount of money.

Additionally, we were able to build a credit into the purchase price that allowed the buyer to keep his settlement expenses and out of pocket funds to a minimum.

In the market for a new home in Baltimore, MD area? Interested in learning how we can employ similar strategies to purchase a new home in a competitive real estate market like we did for this client? Give our Baltimore, MD-based real estate brokerage a call today 410-276-1983.

Commercial Property Investment Opportunity in Superhot Highlandtown

If you invest in residential or small commercial properties and are ready to take your game to the next level, this is a great opportunity for you.

This commercial property is reasonably priced at $1,200,000 and is currently leased by Dollar General, a verifiable performer, for the next five years. Triple net lease shifts the real estate taxes, insurance and maintenance to the tenant. The roof was replaced in 2017 so this is virtually a hassle free investment. The property has been in the same family for over ninety years and has been a great investment for them. Do not miss this rare opportunity to add an amazing property to your portfolio.

The property is located at 3828 Eastern Avenue, Baltimore, MD 21224 in southeast Baltimore at the center of the Highlandtown, Canton and Brewers Hill neighborhoods. These communities are seeing significant residential and commercial development so there is a potential upside for the buy and hold investor. I could talk about this area and all the benefits that it has to offer all day long, but a quick visit to the neighborhood will tell the tale.

Check out the property details here: https://bit.ly/3etxT86 or call Todd at 410-276-1983 for a private tour.   

Pikesville Short Sale – Sold! $63,000 saved!

We recently facilitated a short sale for a single family home located in Pikesville, MD and could not have been happier with the outcome. The seller engaged Heise & Co., our Baltimore-based real estate brokerage, to handle the sale of the property, and the law offices of Heise & Heise, LLP to handle the short sale component of the transaction.

By having our teams handle both elements of the transaction, all parties benfitted from more streamlined communications between us, our client, bank, title company and buyer’s agent. Normally, in this type of transaction involves six to eights parties throughout the sale effort and short sale processing which often lead to long delays.

Utilizing our tandem Heise teams expedited the processing by dedicating only two individuals to handle the entire sale and short sale processing which is important for clear focused communication.

What does this all mean? It means that the seller went from listing the property to the day of settlement in just 94 days, saved herself over $63,000 in debt and had no out of pocket expenses.

If you find yourself in a situation where you need to short sell your property in the Baltimore area there is no better combination to get this done than Heise & Co. and Heise & Heise, LLP.  Get in touch with us today by calling (410) 276-1983.​

Biggest Mistake Made By Commercial Property Buyers or Lessees in Maryland

At my Baltimore-based real estate law firm, Heise & Heise, LLP, people purchasing or leasing commercial property often ask me to prepare a contract or review a lease after they have negotiated the terms of these documents with a seller or landlord’s agent. Not engaging a Baltimore real estate professional before negotiating a purchase or lease is item number one on the list of the worst things people can do in this type of transaction.

Why do people take this approach to commercial real estate transactions?

    • They may think that they are better negotiators than a real estate agent.
    • They may think that they have a better chance of purchasing or leasing if they deal with the owner’s agent directly.
    • They may even think that they are saving money by not engaging their own real estate agent.

Let’s explore how these notions of Maryland commercial real estate are flawed.

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Selling a Baltimore Waterfront Property (21220) in December

Seller Saves over $6,000 in Transaction Fees

Who says you can’t sell a house in Baltimore in November and December? As the listing agent, we put this great Baltimore County waterfront property, located on Wilson Point Road, under contract in 9 days and settled for $560,000 just before Christmas.

As seasoned experts in the Baltimore residential real estate market, Heise & Co. offered a market analysis as well as marketing advice to the seller prior to listing. This allowed the seller to see what comparable properties were selling for, price his property realistically and enjoy a quick sale. Among the tools used to help induce the sale of the property was the addition of professional marketing photos to get eyes on the listing.

What could make this real estate transaction any better? Heise & Co.’s competitive commission program saved the seller $5,600.00 in real estate commission and we paid the broker flat fee saving the seller another $450.00. Total savings enjoyed by the home seller on this waterfront property in Baltimore County was $6,050.00.

Interested in what we can do to help you sell or buy a house in the Greater Baltimore Area? Contact our Baltimore residential real estate office today to find out at 410-255-3690.

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Dundalk Commercial Property Acquisition

Todd Heise and Heise & Co. recently acted as the buyer’s agent for the acquisition of a commercial property in the Dundalk area of Baltimore County, MD, located at the intersection of Holabird and Delvale Avenues. This freestanding building contains over 5,000 square feet of interior space and is situated on a parcel with an area of .36 acres. The building has retail and office areas, seven service bays, generous surface parking and great signage options. After the purchaser completes some upgrades the property will be offered for lease. The purchaser is looking forward to having another great business set up shop in this high visibility location.

Heise & Co. was able to assist the buyer with the acquisition by performing the following:

    • introducing the buyer to the attorney that prepared and negotiated the purchase and sale agreement;
    • introducing the buyer to the title company that was able to perform a title search and identify title defects requiring cure;
    • identifying companies to prepare an environmental site assessment (“ESA”) and a property condition assessment (“PSA”);
    • negotiating the terms of the ESA and PSA;  and
    • assisting buyer with review of purchase and sale agreement and ESA and PSA results.

Dundalk is enjoying a renaissance and offers tremendous opportunities for commercial real estate investors to get in on the ground floor of some once in a lifetime opportunities. Call us at 410-276-1983 to set up your property search today.

How a Commercial Property Short Sale Works in Maryland

Oftentimes real estate investors experiencing struggles with investment properties do not consider a short sale as an option and believe that their only way out is foreclosure. Fortunately, this is not the case for Maryland commercial real estate properties.

Maryland Commercial Investment Property Short Sale

Recently the founder of Heise & Co. assisted in the sale of a small portfolio of investment properties for a client The portfolio consisted of four properties that were located in Harford County, Baltimore County and Baltimore City. There were a total of seven outstanding mortgages on the properties and total loan balances exceeding $500,000.00.

 After months of hard work by everyone involved, settlement on the final property in the portfolio occurred and we closed this matter for our client. In the final outcome the lenders received less than $250,000.00, half of what was owed, and our client obtained releases of liens and waivers of deficiencies on all loans. Of note is that this client is gainfully employed and draws a strong annual salary, showing that even the seemingly impossible transactions are possible with the right approach and consistent effort.

If you are a real estate investor and find yourself needing to sell your Maryland commercial property at a loss, a short sale may be your best option.

Give our Baltimore-based commercial and residential real estate brokerage a call at 410-276-1983 to see how we may be able to help.

ANNOUNCING SOME CHANGES FOR THE FUTURE

​​For over fifteen years I practiced law as a founder and partner at the Baltimore, Maryland-based law firm Heise & Heise, LLP. The work I perform for my clients has been, and continues to be, very rewarding. I am extremely grateful for the opportunity to help my clients with their legal needs and assist them in achieving their real estate and business objectives.

SITE LAUNCH

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