'100 Best Places to Live,' BRAC and the Crofton Housing Market

Crofton residents share opinions on the impact of the Base Realignment and Closure and its impact to the Crofton, Gambrills and Odenton housing markets.

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.”       

Cindy Garhart June 08, 2011 at 01:39 PM
As a local realtor and resident of Crofton I am definitely seeing the impact. Properties are renting very quickly, sales are slower- so many transfers have homes to sell in other parts of the country. Restaurants are busy and traffic is heavy. It is a positive for our local economy. Cindy Garhart, Realtor, Champion Realty, Inc. 301-325-0711 www.cindygarhart.com
Lisa Huffman Webber June 10, 2011 at 01:31 AM
I agree with Cindy, I'm another local Realtor here in the Ft. Meade area and the market is really heating up. We just listed a home in Crofton Farms for $595k and got an offer in a couple days. The rental market is super charged - only 10 homes right now are available for rent in all of Crofton and many homes rent within days. An appraiser just told me that the Crofton area is no longer considered a "declining market" anymore on appraisals and is considered stabilized, which is certainly what we're seeing. Appraisers are always looking backwards however, back 90-180 days. I think that not only are we seeing stability, but in some neighborhoods we are already seeing slight improvements in price. We are also seeing new construction picking up. One neighborhood my client is eyeballing is selling in the $700k+ range and they are not taking contingent lot holds at all - they only have 4 out of 14 lots still available and have been selling since Feb. As Al said, simple supply and demand will help our local prices and the economy overall. Once real estate improves, the rest of the economy will follow. Lisa Webber, Realtor, RE/MAX Executive, 443-274-1114, www.webberteam.com


More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something