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