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Odenton MD – Attractive for Real Estate Investors

Calling all real estate investors! There aren’t many places in this country with greater investment potential than Odenton, Maryland.

Odenton is home to Fort George G. Meade/NSA and about 21,000 households.  It was originally an agricultural area, and became a railroad town early in the 20th century.  Today, it is a suburb of both Baltimore and Washington, D.C. – still tied to its railroad tradition in a new role, as a commuting stop along the MARC route, and fortunate to be the destination for thousands of new jobs under BRAC 2005.  

The real estate market flourished in Odenton during the 1990’s, in the early days of two new residential communities:  Seven Oaks and Piney Orchard.  Today, those communities and others in the 21113 zip code are not immune to the downturn in the housing market, in spite of the presence of Fort Meade, nearby NSA, and the influx of jobs to the area under BRAC.  But these assets aren’t going away, and now is a great time to buy a residential property in this area, while prices and demand are down.

21113-7.11

While new listings were down from previous years in July (a good thing), sales were lower than any of the past five years except 2009 (not a good thing).  More important: the new listings still outnumber new non-contingent contracts 3 to 1. Ideally, these two statistics will be more balanced.

What does all this mean to you:

HOME SELLERS – Be prepared for 3-4 months on the market between listing and closing, and remember… that’s an average.  Some will be quicker and others slower.

Be realistic with your pricing, and accept that 2007 prices are gone.  If you purchased and borrowed at a higher level than you can sell your home for now, you do have options.  Number one, of course, is a short sale.  If you purchased your home before June 30, 2006 and received PCS orders out of the area, you may be eligible for a HAP sale.  If you have questions about either of these, please call me directly.

HOME BUYERS – Whether you’re an investor or owner-occupant, Odenton is a great place to buy a home while the prices and demand are down.  There are few, if any, more promising areas for real estate investment, with Fort Meade and NSA right in the neighborhood, and both D.C. and Baltimore within a half hour. 

No one has a crystal ball in perfect focus, and it’s impossible to forecast when the real estate market will turn around.  However, it’s a pretty safe bet that Odenton will be one of the communities that will come back quickly, with its commuting convenience to D.C. and Baltimore and its neighbors Fort Meade and NSA continuing to attract new jobs.

Odenton Maryland Homes for Sale
Odenton Homes for Sale

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Copyright 2011.  All rights reserved. Margaret Woda

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