Sometimes I wonder if the inventor of form stone was related to the inventor of fake wood paneling? Lol. It never fails when showing clients row homes in Canton, Fells Point, Brewers Hill, Butchers Hill, Patterson Park, Federal Hill and Locust Point, if the facade form stone or brick is painted, the first thing my Baltimore City buyers ask is “how much is it to remove the form stone and repoint the brick”. Most Baltimore city investors don’t even consider leaving the form stone and little by little home owners are doing the same. But what’s the process and what does it cost?
I purchased my own house in 2001. I renovated the entire house EXCEPT the rear exterior brick. Until just recently it was all painted power blue. Last fall I decided that it was time to get the entire back repointed. I knew it wouldn’t be a cheap job but knew it needed to be done. Since last November I’ve probably called 15 masonries for quotes. I probably got return calls from 10 and about 8 showed and gave quotes. A couple of the masons told me that they wouldn’t touch it because of the lead paint. I didn’t argue it because I didn’t want to hire someone for a large job and they not want the work. The quotes that I did get came in as low as $5500 on up to over $24k!
In February I hired Detailz Construction Corporation. My point of contact through the entire process was Ilan Goldberg. Goldberg was quick to respond to phone calls, text messages, and emails. His crew started on a Monday and finished the following Monday, due to a little mid week rain delay. Detailz required 1/3 payment to start the job, 1/3 mid way through, and final payment once complete. Goldberg’s crew was friendly. It was so cold and rainy but they worked full days on the house. After the first day, I could start seeing the results. Every evening when the crew was done they cleaned up their tools and the back of my house as best as the job would allow.
It’s a very dusty job. I have 5 windows and 3 doors at the rear exterior surrounded by brick, it was no surprise that the red brick dust was going to come into the house. A neighbor that shares my rear exterior wall also felt the dust of the construction. She was upset, so I contacted Goldberg right away to see if there was anything his crew could do for her. His response was immediate. In fact, he called my neighbor right away to assure her that they would clear the brick dust that had gone onto her property.
I tried to keep track of the process so that I could share this with clients.
Process for Removing Stone Form in Baltimore
First couple of days:
If you are looking at buying a house with form stone or have a home you are getting ready to sell with form stone, please don’t hesitate to contact me, Suzie Coronel.
It’s hard to believe I’ve survived almost 13 years in real estate. Since the beginning, I affiliated with the big brands. First, with Long and Foster for two years followed by ten more with RE/MAX. Over 12 years later, most of my business is referral-based and derived from my work with previous clients. Knowing your network and reputation have a direct impact on your business helps ensure your level customer service stays in check. For every successful transaction, a good Realtor should expect others to follow. I try to fight for my clients as if they were all close friends. It’s taken me this long to confidently know that it’s your sole reputation not the size of your company brand.
“As a Realtor, it’s crucial to surround yourself with other active and successful agents. The energy and passion in all seven Cummings & Co. offices is truly contagious, but what impressed me the most when deciding to move companies was the infrastructure and internal systems that Dave Cummings and his team have built. In my opinion, Cummings & Co. is the most efficient and tech-savvy brokerage in Maryland. I’m ecstatic to now be a part of this powerful firm and know my clients will be able to recognize the benefits of my move as well. “
I didn’t expect it. In fact, when I interviewed with the owner, Dave Cummings, I told him not to make it a priority as I was just curious what his brand had to offer. Within 30 minutes s of meeting with Cummings, I knew I’d be joining his company before the month’s end. Today I’m typing from my office at Cummings & Co. REALTORS.
While interviewing with Cummings, I asked: “Who is your biggest competition, Dave?” His response, “Zillow.” It was then when I knew I was making the right move for myself and in the end my clients. This is a fast pace industry. It seems like every day there is a new online company buying and selling homes. If your Realtor is suggesting open houses and full-color flyers, perhaps they are in the dark. iPhone apps, social media pushes, live video feeds and algorithms are what savvy Realtors utilize to stay ahead of the competitive online game. Cummings & Co. is the first real estate firm that brings this powerful additive and cutting-edge support to a brick and mortar office.
Why making the switch was so easy:
Full access to six branches in Maryland. Cummings & Co. have offices Bel Air, Perry Hall, Ruxton, Lutherville, Rolland Park, Federal Hill and Canton. While my main office is located in Canton, access to these other branches across Maryland means greater convenience for my clients in Harford County through our Bel Air branch.
Systems in place for everything. The welcome packet, the online agent tools, the in-office support staff, and IT manager made the transition flawless. Any and all questions I may have at the outset were answered for me as part of their seamless on-boarding process.
The agents at Cummings have an average of 12 years’ experience. Yes! The offices are filled with real estate agents that know what they are doing. As an independent contractor, keeping in the “know” is vital for success, and I am excited to be amongst such an experienced group of like-minded professionals.
The broker/owner. Dave Cummings is involved and understands the business and what agents need. Suggestions about possible improvements for the brokerage, while welcome, aren’t necessary as he’s already thought them. As an agent of his brand, I can dedicate my resources to running my own business and providing even better service for my clients because Dave Cummings handles the rest.
A new energy and excitement are propelling me into the 4th quarter of 2017. Thanks, Dave Cummings & staff for the great welcome, I am looking forward to my future at my new home.
Cummings & Co. REALTORS
If you are a buyer in Baltimore City, you are probably aware of the CHAP tax credit that most knowledgeable builders are making use of. The trouble is that most buyers don’t understand the math behind the credit. 606 Eaton is a newly listed CHAP renovation in Brewers Hill. Here is a good example of how the credit works.
606 Eaton St was purchased in the winter of 2016. Before anything is done to the property, the appraiser from the CHAP office comes to put a value on the property. The pre-improvement appraisal amount for this property came in at $165,000.00. The pics below are before the builder started the renovation:
After the renovation was completed the CHAP appraiser comes back for the Post-improvement appraisal. The house turned out beautiful, see the pictures below. The post-improvement appraisal amount came in at $365,000.00.
CHAP tax credits: Here is the math breakdown:
CHAP appraisal before renovation is 165k
CHAP appraisal after renovation is 365k.
The “locked in” credit is 200k x 2.32 = $4640.00/year in taxes ($386.67/month)
So let’s say the state’s assessment after renovation is 350k.
Normal tax bill for the city portion is 350k x 2.32 = $8120/year ($676.67/month)
CHAP credit is $4640/year
TOTAL AMOUNT OF CITY TAX $8120 – $4640 = $3,480.00 ($290/month)
Buyer will save about $386.67 a month!
***These numbers are good estimates but not exact.
When purchasing a CHAP tax credit house it is important to get the CHAP appraised amounts so that you can calculate the taxes that the buyer will be paying. The above example should help you calluclate but in the event you still have questions, please contact Suzie Coronel atsuzie@CrabbyHomes.com or the cell number in the banner below.
CHAP tax credit renovation properties have been saving buyers a substantial amount in taxes for years. These types of Baltimore row homes hold more valuable because of the generous tax break. I did at recent blog titled 10 year CHAP tax credit renovations in Butchers Hill . That blog highlighted 3 CHAP tax credit renovations all in the popular Baltimore neighborhood Butchers Hill. Since that was published all 3 of those active Baltimore City homes for sale are now under contract and set to settle in March 2017.
When explaining the tax credit, most are vegue in the details. When I explain it to Baltimore City buyers, I try to give them round number within my example to keep things easy to calculate.
Here is the example that I tend to use:
CHAP appraisal before renovation is 100k
CHAP appraisal after renovation is 300k.
The “locked in” credit is 200k x 2.32 = $4640.00/year in taxes ($386.67/month)
So let’s say the state’s assessment after renovation is 290k.
Normal tax bill for the city portion is 290k x 2.32 = $6,728/year
CHAP credit is $4640/year
TOTAL AMOUNT OF CITY TAX $6728 – $4640 = $2088.00
When purchasing a CHAP tax credit house it is important to get the CHAP appraised amounts so that you can calculate the taxes that the buyer will be paying. The above example should help you calluclate but in the event you still have questions, please contact Suzie Coronel at suzie@CrabbyHomes.com or the cell number in the banner below.
Butchers Hill home buyers who are looking for a 10 year CHAP tax credit renovation have some great options. Many buyers will think that a total renovation is going to be way out of their budget. The truth is that Butchers Hill properties are just as diverse as it’s residences. Below I have 3 available CHAP tax credit homes that offer 3 different layouts at 3 different price points.
315 S Washington St – Butchers Hill – $325,000.00
Full CHAP pending, pre-construction appriasal is 115k
3 levels above ground
1 mastersuite on the 3rd level – complete with roof deck access, a full bath, and a sitting room
2 bedrooms share the 2nd level with a full bath inbetween
On the main level is a bright white kitchen, separate dinning room , large living room
This home has a 2 tier deck and an exterior storage shed in the rear.
411 S Washington St – Butchers Hill – $344,900.00
Full CHAP pending, pre-construction appriasal is 125K
3 finished levels, including a fully finished basement
2 bedrooms on the second level – a master w/ private bath and a 2nd bedroom with use of hallway bath
Main level has an open layout living area, separate dinning room and kitchen with breakfast bar
Basement is fully finished complete with a third bedroom, full bath and laundry area
This home also has a 2 tier deck starting from the 2nd level as well as a patio leading off the main level kitchen
2025 Bank St – Butchers Hill – $439,000.00
Full CHAP pending, pre-construction appriasal is 150K
Top 3 levels had an addition built on to the back
4 finished levels of living space
Top level has 2 bedrooms and a shared full bath
2nd level has master bedroom/full bath aside an additional bedroom with hallway full bath
Laundry is also on the 2nd level
Main level is set up for the entertainer- large living room, gourmet kitcken and separate dinning room with a walk out patio
Basement is fully finished with the 5th bedroom and full bath.
If you’d like to see any of these from Mason Properties of Baltimore, a favorite local builder, please contact Suzie Coronel. If you would like to better understand the CHAP credit, don’t hestitate to call!