Although the real estate crisis in Baltimore is far from over, there are signs that it is experiencing a comeback. Early last year, bank arbitrated sales, consisting mainly of foreclosures, went through a significant 7 percent drop, a big improvement considering the status during the previous year. The prices of these homes also increased tremendously, an indication that there is room for improvement.
Improvement in Recent Years
Maryland has made several changes to its regulations regarding real estate in response to the looming crisis. These alterations have made the rules concerning real estate more sympathetic towards customers. Due to these changes, foreclosures in this state are less pronounced than in other jurisdictions.
From the time the distressed real estate market begun to improve, the average sales price rose by 6 percent beginning April 2015 to May 2016 in Baltimore and its environs. The average home price was $243,000, the highest it has reached since 2008.
A Passion for Real Estate
Todd Lubar began his career in real estate after he attained his speech communication bachelor’s degree at the Syracuse University in 1995. Todd’s fascination with the housing industry coupled with his passion to help people made him recognize real estate as his calling. He started out at Crestar Mortgage Corporation as a loan shark. During his tenure at Crestar Mortgage, Todd perfected his skills in mortgage banking, an experience that is one of the hall marks of his career.
Todd’s eagerness to learn all that he could in the housing industry, led him to form relationships with CPAs, insurance agents, real estate agents, and financial planners. Currently, these individuals are included in Todd’s referral base.
In 1999, Todd joined Legacy Financial Group, as a loan broker. He later established his own firm, Legendary Properties LLC, a firm dedicated to the purchase, rehabilitation, sale, and profiting from residences.
Todd is currently the President of TDL Global Ventures, LLC. He is also Legendary Investments senior vice-president. Todd helped in the growth of the Maryland Legacy Financial office, a unit whose loan unit is several 100 million dollars. He was also the former vice president of Charter funding whose focus is assisting the needy. You can contact him via toddlubar.com.