Home Buying in 20745>Question Details

yvonne.somer…, Home Buyer in Oxon Hill, MD

Will homes prices be effected by the new casino at the National Harbor in Oxon Hill, Maryland?

Asked by yvonne.somerville, Oxon Hill, MD Fri Nov 30, 2012

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5
Hi Yvonne,
I agree with my fellow colleagues regarding the speculative nature of real estate. However everything in real estate is somewhat speculative and oftentimes the factors that are used to spur growth or track trends is dependent on the infrastructure that is existing or is future. The more jobs that produced and income that is generated through retail and commercial means the greater the chance of home values increasing over time. How quickly that will happen, that is where the true guess work would come in. Currently you can track any home sale price increases in that area based on what happened over the last 4 years as the National Harbor came out of the ground and grew in popularity not only among those living in the DMV area but also as a tourist attraction. Like one of the gentleman said the increase has been dismal, but that is the real estate market as a whole over the last 4 years. However within the past year we have started seeing a stabilizing and small incremental price increases.
If you want to track the trends easily go to:
http://www.washingtondcluxuryhomes.net/mimarket/zip/20745/

All the Best!
0 votes Thank Flag Link Wed Dec 5, 2012
A new casino at National Harbor is only one factor to consider trying to forecast the future of real estate prices. Generally speaking though, the jobs that a business that size will bring into the community is always helpful.
Web Reference: http://richsellshomes.com
0 votes Thank Flag Link Fri Nov 30, 2012
Hello Yvonne. Probably not. Quite a few people bought homes over the last few years because of all the hype about the national harbor coming but it has not made much difference in home values. If your buying now is the time to buy because of low rates and home prices. If you need to sell that would have to be evaluated specific to how much you owe. Either a short sale or regular sale. If you have any further question imcan be reached at 301-440-1489 or parkerteam4@aol.com.
0 votes Thank Flag Link Fri Nov 30, 2012
While no one has a crystal ball, it would be a reasonable to think that would be the case. They are also in the process of building a new outlet mall there as well.

http://tmcmahon.exitlandmark.com/
0 votes Thank Flag Link Fri Nov 30, 2012
No one can give an honest answer until after time passes and actual effect on prices can be tracked over time. To answer now would be speculative and your guess would be as good as mine.
0 votes Thank Flag Link Fri Nov 30, 2012
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