It's an exciting time in Odenton, MD. In addition to the projected 33,695 new jobs created by the base realignment, there is a lot of new construction going up in the area as well. As an Odenton, MD resident myself, I hope they can keep up with road expansion and maintainance!
DISA and BRAC Jobs Now Arriving at Fort Meade, Odenton, Maryland, 21113
Ben Weathers at The Capital Newspaper reported this morning (January 5, 2010) that with Fort Meade jobs on the way and thousands of jobs transferring, local area road projects are still many months away from completion.
Traffic congestion around the Ft. Meade area may be a negative by-product of the Defense Information Systems Agency (better known as DISA) move to the base in Odenton, Maryland, but, a surge in the demand for local housing should prove beneficial to the area. So, demand for housing this spring should be strong, especially since home prices are low and interest rates are also very modest.
Along with the 5,000-plus DISA employees expected to work on base at Ft. Meadewill come their families. And with them increased demand for goods and services creating opportunities for local area businesses and store owners. While this is not likely to create an economic boom, the overall benefits will should be noticeable in our area.
Relocating active duty military and certain other Federal government employees may qualify or up to $8,000 in IRS tax credits for first-time home buyers and up to $6,500 in tax credits for trade-up buyers. Those buyers who may qualify have until April 30th, 2011 to get their new home under contract. More information on qualifying for the credit can be found at IRS.gov.
The Metropolitan Regional Information Systems, Inc. (MRIS) data for December is not yet available (typically published by the 10th of the month), but the current active inventory in Anne Arundel County is only 3,130 units (as of this writing). In December 2010 the county had about 9.5 months of inventory, down from 11.9 months in December 2009. A lower inventory level is good for sellers, while higher inventory is better for buyers. Industry experts suggest a balanced market has about 6 months of inventory. So, buyers are still favored in today's real estate market.
If a significant number of DISA employees relocate to the area to be closer to work, to reduce their commuting time and distance, this should have a positive impact on stabilizing local home prices as a result of the increased demand for affordable housing. Sellers should see increased traffic (showings). Buyers will have few homes to choose from. All-in-all, this is good news all around.
If you are interested in renting or buying a home in Annapolis, Maryland or the surrounding area and want to tour any property currently on the market, or if you have a home to rent or sell in Annapolis, Maryland and want a professional consultation on current market conditions, please contact me at 410-923-3217 or e-mail me at firstname.lastname@example.org or visit my website at LiveInAnnapolis.com.
Stephen Howell came to Annapolis to sail the Bay in 1994. What he discovered was a whole new lifestyle. Ever since Stephen Howell has been successfully helping others make the most of Annapolis. You'll find that with the right professional by your side, you can Live the Lifestyle and Live in Annapolis.
Stephen Howell and Rocky (his lab-mix from the SPCA of Anne Arundel County in Annapolis) live on the Chesapeake Bay near Annapolis, Maryland. He works in the Annapolis real estate market. His website lets people search the Washington and Baltimore metropolitan area MLS. Buyers can also search for waterfront homes along the Chesapeake Bay. His website has current real estate data on Annapolis, Anne Arundel County, and Maryland.