Columbia, MD Realtor Says Housing Shortage Is Possible

August 18, 2010

Press Contact: Mark Boyd
GetMyHomesValue
717-406-1851
mboyd@getmyhomesvalue.com

For Immediate Release

COLUMBIA, MD REALTOR SAYS HOUSING SHORTAGE IS POSSIBLE
Columbia, MD - The impact of BRAC (Base Realignment & Closure) could very well include a shortage of available housing, according to Nancy Cummins, a real estate agent with Long & Foster, Real Estate Inc., of Columbia, MD..

“The government has predicted over 11,000 jobs coming to Ft Meade over the next several years.” says Cummins, a Long & Foster agent and local representative for GetMyHomesValue.com. “That will be a huge impact for both Anne Arundel and neighboring Howard County. Traffic patterns, schools, retail stores, restaurants and very possibly a housing shortage.”

The BRAC program relocates military and government personnel living on military bases, as some bases have been closed. Ft Meade is one of the relocation bases and Cummins says the area is starting to feel the impact of BRAC.

“We are already seeing an upswing in the market with homes spending fewer days on the market, multiple bids, and escalation clauses . . . something we haven’t seen in years,” says Cummins. “Of course, the record low interest rates is a huge factor. There has been an influx of rentals lately too.”

“And my investors are getting more active, buying up delapidated properties (often bank owned or short sales) and fixing them up to sell or rent.”

Cummins says Howard County will feel the impact even more because of its reputation as a desirable place to live.

“Howard County is known for many things, but most importantly, the Blue Ribbon Public School System. In fact Columbia/Ellicott City, the center of Howard County, was just named CNN Money Magazines #2 Best Place in America to live.”

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