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Rebecca, Both Buyer and Seller in Severn, MD

Does anyone know the schedule for the BRAC reocation in Ft. Meade area? We are having a difficult time

Asked by Rebecca, Severn, MD Thu Jun 5, 2008

selling our house, and may put it off until next year or 1 1/2, depending on when we expect more demand.

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I am on the Maryland Association of Realtors Commercial Alliance and we have been working on this project for over three years. The problem is that hundreds of personell are scheduled to move in and there is no space to put them - they are building office space on the base. The first set that was scheduled to come down from NY, investigated the school systems, many of them took retirement or refused the transfer (I do not know this for a fact, but was told this by someone who was coming here). As you can see, the roads surrounding the base have not been improved, and when you consider that up to 30,000 new employees are scheduled to come, how are they going to get back and forth to work - SLOWLY! Neither PG or Ann counties have taken the bull by the horns, and started making plans - its a shame, cause it would be a great boost to the economy of the area. And I guess the other counties up there have taken even worse positions - one refused to build a much needed road, and when the group decided to move out of MD, they went ahead and built the road! Now Maryland has lost a major group of employees!
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0 votes Thank Flag Link Thu Jun 5, 2008
Hi Rebecca, I'm a Fort Meade Area real estate specialist and I do my best to keep up with the latest on BRAC. I even have a blog about it on my web site. First and foremost it's a while down the road and not really beginning to affect us yet. The contract to build the multi-million square foot facility that will house BRAC workers was just awarded to a construction companyr less than 60 days ago. So calculate in the time it's going to take to build that facility in years not months. They are currently letting some contractors and employees work from remote locations (mostly in Virginia) to cover the jobs already available.

What most people don't advertise is that the number of jobs BRAC is supposed to provide is calculated using the new employees PLUS any ancillary growth expected to take place around the new jobs, i.e. the waitress at your local restaurant, and the people who build the roads that will be expanded as well as the government contractors and military personnel supporting DISA and other organizations.

As for how BRAC will affect the real etate market locally, keep in mind that many families who already own homes in the Fort Meade area are commuting to DC and Baltimore. They will no doubt be vying for some of these new jobs to lessen their commute. Many families will also be on shorter terms contracts (3 years or less) and may own a home elsewhere so they plan to rent here. So, not every BRAC employee is going to have an impact on the sale side of our real estate market. This bodes well for wise investors who are picking up rental properties close to the base.

I've had a lot of families tell me that they are going to "wait until BRAc hits" to sell their home. This has been going on for over a year now. Unfortunately during that time our inventory of available homes now exceeds a two year supply and the families that waited have seen the value of their property decrease dramatically.

In addition to the homes that we have on the market now, I do expect to see those who have been waiting on the sidelines, jump in to the market as soon as we see some influx from BRAC. That will only serve to further saturate a market in transition.

While we are all excited about the impact of BRAC on Anne Arundel County Real Estate, we need to remain cautiously optimistic and recognize this as a supporting factor to bring our market back in line and not expect it to be our saving grace.
3 votes Thank Flag Link Thu Jun 19, 2008
Well it is now Nov 2009, 5 months since you were "having a difficult time selling" your house. Did it sell? It sure would be nice to get an update from you., I have a many buyers looking in your area. Just listed a 5 bedroom home in Gambrills and am working with the buyer to finalize the contract of sale after 6 weeks. When you are "serious to sell" please e-mail ...As a senior specialist, I work with retirees. As a BRAC Specialist, I work with military relocations. The Fort Meade housing area is very active for me right now. Would like to get your house sold fast. ...Come to the settlement table.
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0 votes Thank Flag Link Tue Nov 10, 2009
Hi Rebecca.....There are many jobs coming to the area with BRAC,DOD,DISA relocating to the area. There are different timetables for different government jobs. Some of these people are those who already live in Virginia. Employees have been offered bonuses to transfer and live here close to work, some will move, but not all, depending on their situation. Are they close to retirement, do they have children in high school and don't want to transfer them....there are many obstacles for some to overcome, therefore staying where they are. We have military families transfering in all the time, but the expected overall growth is anticipated to be 15% of Anne Arundel Counties overall growth. You must keep in mind, this does not include the jobs for spouces, etc.... The jobs will not be a huge explosion all at one time. They are being "phased in" over the next few years. I believe DISA is one of the first, and they are expected to begin coming in around October.

As far as selling your house goes, I wouldn't wait to see what happens. Right now there are so many buyers out there who want to take advantage of the $8,000 tax credit. My business has doubled with buyers, and my listings aren't lasting very long either.

If you are having a difficult time, you may want to discuss with your Realtor their marketing strategy, the price of your home may need to be reviewed, it could be many factors. Have you looked at other homes on the market in your area that are comparable with yours? There are many things to can consider when your home isn't selling, but the market is full of buyers!
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0 votes Thank Flag Link Tue Jul 21, 2009
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