Should I sell my home in Severna Park now or should I wait for BRAC?

Asked by Tulip42, Severna Park, MD Fri May 13, 2011

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11
Charlotte Sa…, Agent, Ellicott City, MD
Mon May 30, 2011
I would definitely suggest listing your home now! The market is stronger now that it has been in quite some time. BRAC is actually here already. One thing I can tell you is that even though BRAC is here, one thing we are finding is that a lot of the people that are arriving are not buying. They are actually renting. The reason for that is that they most likely have a home that they own somewhere else and are having trouble getting it sold and they are renting it out. That prevents them from being able to buy once they arrive here in Maryland. It's the reason our rental market is so strong too. My office has more than 300 foreclosures coming on the marketing in the next 6 months and I can tell you that once those properties come on the market, it will flatten a bit. Definitely do it now and make sure you choose an Agent that does broad marketing and gives your home the best exposure possible! If we can help, let me know! Severna Park is selling very well and you should do just fine!
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Gerard Carney, Agent, Spring Hill, FL
Sun May 29, 2011
Tulip Now is always the right time to sell, just make sure you have a progressive marketing plan
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Ellie McInti…, Agent, Columbia, MD
Sun May 29, 2011
There are currently 178 Active Listings in Severna Park today ranging from $224,000 to $8,500,000. (See link)

Only 6 of those are distressed homes. (Either REO or a short sale)

For such a desirable area with excellent schools, now would be a great time to list your home if you are prepared. Keep in mind that buyers expect the moon in this market, so do not list your home unless you are ready to put your best foot forward. Many buyers with families are paying to be in your area because of the schools, they will want to move over the summer.
There is, without a doubt, a large amount of foreclosures that will hit the market soon, but that does not mean that Severna Park will be overly affected. It seems to have a good strong economy.

Because of the growth of BRAC be sure to use a listing agent that markets your home in as many places on the internet as possible with multiple photos. There is a great deal of new buyers who are relocating to the area and they start their search online. Good photos can make the difference between being passed over or gaining a buyers interest
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John Marcinik, , Deale, MD
Fri May 20, 2011
List your home ASAP. You did not mention a price range but are you aware of new lending policies soon to be implemented by Fannie Mae that could cause you to lose thousands of dollars in equity?

Starting Sept. 1st many areas will face new, lower conforming loan limit sizes. If a purchaser can't borrow the money, they can't buy your house. Your house value and other may decline drastically.
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Daniel Johns…, , Mitchellville, MD
Mon May 16, 2011
Don't know your specific situation but I've been told another influx of foreclosures are soon to be released on to the market (about 3 to 4 months from this time)... this can drive prices down in your area depending on how many there are. If your ready to move on it may not be worth the risk... there is no guarantee that qualified buyers will be knocking down your doors starting bidding wars due to BRAC. Historically speaking this time of year is the best time for real estate sales, if you gamble you may miss out...

Admittedly I am no psychic... list the home if your ready to move/don't list the home if your not.
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Hedy Nelson, Agent, Severna Park, MD
Sun May 15, 2011
Good question. This is a great time to sell. Buyers are looking for homes now in Severna Park. Homebuyers with children want to get situated before the next school year begins.

Regarding BRAC: People have started moving into this area in connection with BRAC, but it is unlikely we will see the rush as originally thought. Many of the people employed at Fort Meade are coming from northern Virginia, where many of them are under water on their homes, and have therefore decided to commute for now. While we will continue to see more people moving into the area because of BRAC, it will likely be more of a steady stream, rather than a flood. As a result, I do not think we will see a huge increase in home values all at once because of BRAC.

-- Hedy Nelson
http://www.hedynelson.com
http://www.witzrealty.com
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The Roskelly…, Agent, Gambrills, MD
Sat May 14, 2011
Hi Tulip,

BRAC is here and we are seeing a large influx of home buyers. Anne Arundel county has had 20 - 35% increase in the volume of sales since January. We still have lots of inventory so if you are waiting for prices to soar that is not expected to happen. Interestingly enough, as Fort Meade real estate specialists we are seeing more Cyber command families arriving! That recently announced command could dwarf the DISA numbers. If you are looking for expert representation that targets military and DOD on Fort Meade visit us on-line!
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Maria Avella…, Agent, LAUREL, MD
Sat May 14, 2011
Yes and no, Only you can answer if you should buy or sell now, You have to look at your overall financial/personal situation and decide if it is best for you sell now or later. There are many questions to be asked. Why do you want to sell? Are you staying in the area? Is there any other persononon title? What do this perso thinks wants? ...

This is a complex question that needs many questions answered to reach a good decision.
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Jennifer Hol…, Agent, Annapolis, MD
Sat May 14, 2011
I think Christine is right - if you are moving "up", you will benefit from the historically high home affordability right now. This is also a nice time of year to be selling (on average). I like this blog post from The KCM Blog for a good overall perspective on listing now:
http://kcmblog.com/2011/05/10/5-reasons-you-should-consider-…

The impact of BRAC for your home really depends on whether the specifics of your home (i.e. location, size, etc) match up with that specific housing demand. If you would like me to do a market analysis for you (no obligation), feel free to get in touch. -- Jen (jennifer.holden@longandfoster.com)
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Christine Jo…, , Severna Park, MD
Sat May 14, 2011
I depends on what you goals are for the move. If you are staying in the area but are a move up buyer you should make the move now. Interest rates are down again this week, the buying activity is high and prices are good but not declining. BRAC has started to move in and our office has had several transactions with these buyers. I live and work in Severna Park and I would love an opportunity to discuss your needs and goals. If you would just like a Market Analysis and a opinion please give me a call.
Web Reference:  http://AACountyRE.com
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Larissa Jel…, Agent, Bel Air, MD
Fri May 13, 2011
There are many Brac people coming in June and maybe in August. If I can help you list your home feel free to email me LarissaJ@kw.com
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