BRAC Update
The Base Realignment planned for the Ft Meade area in Odenton, MD is beginning to show some traction. According to recent reports, the Spring of 2010 will produce 300-400 new job transfers to the area. This is a very small piece to the pie that will ultimately bring an estimated 22,000 new jobs to the area.
Unemployment in Anne Arundel County is currently at 7.3%, substantially lower than the national average of 10.2%. The majority of the new positions to be filled at Ft Meade/ NSA (and additional contractors) will be skilled labor and will bring in a pool of not only workers but consumers. From income taxes, to higher spending in the local economy, and naturally housing needs, the surrounding area will benefit greatly from the incoming surplus.
With a 5,000 acre campus available, the amount of office space currently under construction would pale in comparison to the nearby Pentagon. There is much opportunity for expansion which is scheduled to reach completion in 2015 according to the Capital newspaper.
Housing in the area has reached a level of affordability not seen in 32 years according to RE/MAX International. Low interest rates and the softening of the local market has led buyers out in droves to snatch up bargains in Anne Arundel, Howard, and Baltimore County. Days on market has reduced from 145 days to 122. As the local market continues its movement from a buyers market to a stable/ even playfield, home appreciation will be in the near future for local area homeowners.
For more information regarding housing in the Ft Meade / NSA area of Maryland, call Mike Johnson of RE/MAX Summit Realty at 410 544-8370 or visit www.annearundellistings.com For all of your housing needs!
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