July 2007 Crofton was named one of the "100 Best Places to Live" in the United States by MONEY magazine.
Crofton placed 72nd out of 100 cities on the list. It was selected for its relative anonymity while still featuring many major amenities, excellent schools and sought after location.
This may come as no surprise to any of the over 30,000 individuals living in Crofton. Within the next year even more people will come to appreciate Crofton too.
Although the National Case-Shiller Home Price index was just released showing that U.S. home prices sank in March to a nine year low, real estate is all about location; Crofton area home prices may be headed upwards.
In 2005, Congress signed a law that would effectively close and move several military bases with the goal of “transforming the U.S. military into a more efficient, more effective and more adaptable operation,” according to the official Maryland BRAC (Base Realignment and Closure) website. BRAC will likely have a great impact on the Crofton community. The possibilities include stimulating the local economy with an increase in home purchases and rentals.
Al Friedman, a real estate professional with Long & Foster Real Estate, Inc., feels that as we move further in the BRAC process the local communities will begin to feel the impact on home values.
“Communities around the Fort Meade will become much more desirable,” said Friedman. He also added the impact will be felt in the Odenton and Gambrills communities as well.
“As the inventory of available homes decreases, property values should start moving up. Also, with the number of new buyers increasing, values could go up even further,” said the 25 year real estate veteran, Friedman. He said that basic supply and demand in the Fort Meade area will stimulate the real estate market.
Although most of the 6,500 households in Crofton would probably agree that an increase in the real estate market and home values is a positive thing some residents have concerns also.
Crofton homeowner John Pinkney fears that the already congested Rt. 3 will become even more congested. “Part of my commute every day now involves sitting through many stop lights on Rt. 3. Although my home maybe worth more money, my commute will most likely get longer!” said Pinkney.
Crofton mom of three Janet Greene has different worries.
“Where will kids go to school? Our schools are already crowded,” said Greene. She went on to say, “However, it would be nice if home values do go up. We don’t want to move but when the day comes, we don’t want to loose money.”