I've been interested in Water Oaks Townhomes by Ryland at elkridge. I heard that soon new condos are coming

Asked by Raja, Elkridge, MD Sat May 31, 2008

in that area for low-income people. Will that decrease the value. Is it a good idea to buy at Water oaks. Appreciates your advice

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Brian Pakulla, Agent, Ellicott City, MD
Sun Jun 1, 2008
I am not a strong advocate of Water Oaks. The community is having a tough time with resales. Most homeowners over paid and didn't take into consideration the down side of both Rt 1 and close proximity to I-95. Therefore, there is now a lot of homes on the market and prices have rapidly dropped. Of course the entire market has dropped, but some neighborhoods are better off than others.

If you really want to buy there, make sure you do your home work and have a good buyer's agent on your side. I would also recommend looking outside the community to compare and contrast. For the money, they do offer a nice, newer home, but for real estate investment, the good old saying of "location, location, location" holds true. And this community is not a great location.
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