On June 19th at 11am, the Strawbridge United Methodist Church, located at the corner of Park Avenue and Wilson Street in the heart of Bolton Hill, will be auctioned to the highest bidder. Included with the 8,000 sq. ft. church building, which features some lovely stained glass and an ornamental ceiling, is a 3,800 sq. ft, three story brick rectory. Both are in need of repair. Originally priced at $600,000, the property didn’t sell, and will now be auctioned with no minimum bid. It is being sold by the Baltimore-Washington Conference of the United Methodist Church.
Hot House: 435 Ginn Lane, Pasadena, MD 21122
Glass, steel and concrete house, contemporary design by Leo D’Aleo, circa 1990. 10,000 sq. ft. over four stories, with 4 bedrooms, 4 full, 2 half baths, gourmet kitchen, glass walls, spiral staircase, marble floors, top floor observatory. 3.5 acres of land, with deep water dock, swimming pool, private beach, two bedroom gatehouse, putting green: $5,900,000
Courtesy Citybizlist – A rare Federal desk and bookcase, presumed to be Baltimore 1800 – 1810, was estimated to sell for $150,000 to $300,000 at Christie’s Important American Furniture sale on September 25th. In fact, the satinwood-inlaid, Verre Eglomise (reverse-painted glass) mahogany cylinder desk realized $567,750.
You probably saw the historic Victorian cottage in Mt. Washington we featured last week that goes to auction in just two days! Auctions present a great opportunity to purchase a property at real market value, but if you plan to bid you must be prepared. It’s best to pre-register if you know you’ll attend. Pre-registering will save time and hassle, and it’s a good way for the auction company to give you updates. If you’re a realtor representing a buyer, fill-out the Broker Registration form to be sure you qualify for your commission.
If you plan to bid, make sure you have the required deposit ready to submit if you score the winning bid. If you need to finance the property, it’s absolutely imperative to pre-qualify for financing and it’s best to work with a lender who can offer a quick turn-around and is familiar with the auction process. A.J. Billig has relationships with many local lenders who will make the process as painless as possible.
Watching an auction is an exciting process, and with such a desirable property, this is a great time to just go for it.
Hot House: “Springfield”, 12605 Dulaney Valley Road, Phoenix, MD 21131
Historic manor house, colonial style, in stone, stucco and clapboard, dating from the early 1800’s, in need of extensive renovation, originally part of a 1694, 2,500 acre parcel called The Valley of Jehosaphat. Two story, 6,000 sq. ft., with 6 bedrooms, 8 further rooms, 4 full, 1 half bath, fireplaces, unfinished attic, basement and three car garage. Eight acre property has fields, mature trees, stream, clay tennis court (overgrown), in-ground pool (unusable), stone smoke house, a working well, and a tunnel believed to have been part of the Underground Railroad. Auction December 6th. Minimum bid (suggested): $250,000
One of our faithful readers forwarded to us the email, below, sent by the Potomack Company, the Virginia-based auction house that had planned to sell the painting over the weekend, to all subscribers to its email blasts.
When a story is too good to be true, alas, it often is. Earlier this month, we told you about the Baltimore native who bought a painting at a West Virginia flea market that turned out to be an authentic Renoir. The painting, “On the Shore of the Seine,” was authentic all right — and also authentically stolen from the Baltimore Museum of Art back in 1951.
Looking back over a year of Hot House columns, searching for some rhyme or reason to the local real estate market, the Baltimore Fishbowl ran a quick check to see which dream houses have sold and which ones are still hanging around.
What’s moving — sleek condos or charming cottages? Old estates or giant McMansions? There are any number of ideas on what makes a house sell in this down economy, but the prevailing market-think is best summed up by Noah Mumaw, of Prudential Homesale, YWGC Realty, “This is the most price-sensitive market that I have ever seen. Homes that are priced properly are flying off the market.”
Of course, one man’s “priced properly” is another man’s “practically giving it away.” What is undeniable is that the average home sale price has dropped about 30 percent in the past five years, and yesterday’s $500,000 house is worth only $350,000 in today’s money.