Prices going up is a tad unrealistic...Your costs seem well below what the new units are selling for, so just price it accordingly if you want to sell..Waiting for an upturn in prices could cost you more, as the builders will be able to undercut you with upgrades and financing as the market continues to find a bottom.

Terry,

Prices are NOT going up around Odenton and I don't think they will increase within the next year. At best, prices are not falling as steeply (5-6%) like they are in Northern Virginia and Montgomery County (more than 5-6%). Remember, BRAC is still four years out and not everyone is going to settle in Anne Arundel County. I wouldn't be surprised if many of the new population end up in Howard County for its schools. Where the new people live will depend also on what roads will be improved.

I have a friend who has a townhouse there and they're in the same situation. They moved to another county and instead of selling, they are renting their townhouse because they know they won't get the price they want ($425K). The last one sold for $395K last winter.

Is renting out your current residence an option for you?

I agree w/ jy md. I think in a few years, you will be competing w/ alot of new home construction and people buying in better school districts. I do think there will be a good market for rentals provided the price is affordable. I am in AA CO in an area that is not seeing a drop in prices, but DOM is longer. Water access & good schools are the draw. That said, I still don't think the prices are going to go up much if any even w/ BRAC .
BRAC is not going to affect your listing price now vs April.

I have no idea where you are. If the question is leave now or in 2011, I would say you will do better waiting. As between now and next April in most areas, I would go now

This is a retirement situation?

If you can afford to move now and want to move now, I would move now. Moving to a nicer spot with a loved one is worth much more than money that may or may not materialize.

Thank you for your comments and suggestions. I'd like to clarify some.

This would be an early retirement, or semi-retirement. Dh would want at least a part time job.

We have been landlords in the past, and will never do it again.

Dh does not enjoy his current job, but the possibility of something else has come up, and might make him willing to stay another 4 years, to age 59 1/2.

Besides the 15 thousand jobs at Meade, it has been estimated there will be another 60 thousand support jobs created. So far, the various counties have not gotten together on plans to increase the housing or improve transportation. Builders are already complaining about a lack of area to develop, and many are building "50 or better" communities as this lets them escape paying school fees.

Our unit is 2 miles from Fort Meades gate, and 5 minutes walk to a brand new elementary school.

None the less, DH and I have been talking, and if he hears nothing further about the new job possibility in 2 weeks, we will cal our realtor, and have her go over the house with us, with a view towards selling asap.

Thank you again for your time.

Also, consider how much money you would need prices to increase to increase your net take.

If you pay 2000 a month in mortgage and taxes you'd need almost a 24 thousand dollar increase in the selling price to net selling 1 year from now.

(this is true only because you alrady have a second home, you have almost zero increase in costs by moving to a home you already own)

None the less, DH and I have been talking, and if he hears nothing further about the new job possibility in 2 weeks, we will cal our realtor, and have her go over the house with us, with a view towards selling asap.

I think if there's nothing keeping you in the area, then selling now would be the thing to do. I wouldn't stay in hopes of a price increase.

Besides the 15 thousand jobs at Meade, it has been estimated there will be another 60 thousand support jobs created.

Just to clarify. I think you may have misunderstood the BRAC moves. There are 15,000 jobs coming to the state of Maryland as a result of BRAC: 5,700 jobs will go directly to Fort Meade while the remainder will go to Aberdeen Proving Grounds. The entire state is anticipating an additional 60,000 but those can be located anywhere between Harford County down to Prince George's County.

Also, many of the jobs going to Fort Meade come from around the Virginia side of the DC metro area so those people may or may not move. From what I can tell, Virginians will NEVER move to Maryland and vice versa although I have lived on both sides of the Potomac.

Hi, Terry. I am undergoing a similar decision at the moment. I am in Columbia (and agree with some of the above posts that Howard Cty. is likely to be a better draw when the BRAC comes than AA because of schools and the reputation of Columbia, whether one agrees with it or not). I bought this single-family fixer in 2003 for $292; have put $65gs into it (as of tomorrow, when the installers arrive to put in the new AC/heat pump--not something I planned for but now unavoidable). I am trying to decide about leaving and am more and more leaning toward NOW. This is so even though our prices on average in Howard are up a bit (I think around 3%) over last year. Good looking, improved, well-presented property gets into contract in six weeks to three months these days; the rest sits, prices are cut, and so on. With the many improvements (and my house backs to a lake/woods, has a garage, fireplace, and other such goodies), I'm not too worried about selling. My issue is more about where to go, which is into a condo (there are many, prices have dropped some, but perhaps no longer). Our "family" realtor (not a relation but he has handled purchases and sales for us for almost a decade now) advises me: if you want to go "soon-ish", do it now. Why? While he feels prices could continue to go up a bit--and the BRAC will help, when it hits--he feels that interest rates are the thing here. If they start to climb, buyers will have to drop prices and/or drop them more. Your comfort level with your sell price is something only you can determine (as with all risk), but I wanted to share that. Also to wish you luck: it is a very tough decision to make and it is worth thinking it through, pros and cons.

Besides the 15 thousand jobs at Meade, it has been estimated there will be another 60 thousand support jobs created. So far, the various counties have not gotten together on plans to increase the housing or improve transportation. Builders are already complaining about a lack of area to develop, and many are building "50 or better" communities as this lets them escape paying school fees.

If you go to the link below, a lot seems up in the air. I didn't dig into the links, scanned a few pages.. Who knows what they will end up doing. You also can't count on where they will live, whether base housing or off base. I'm in the same situation by Fort Dix / McGuire; but I think we're a bit ahead of you as they started destroying base housing already. I drive by and shake my head; disgusted by the waste. They've been empty for years, to see them torn down instead of gutted & updated is a shame.

If you are thinking of leaving, now is as good a time as any. No one can guarantee what tomorrow will bring.

Here is a link that might be useful: Ft. Meade info

Base housing at FT MEADE is being renovated, updated and new housing is expanding. This started before the BRAC - forecasted to continue for at least 10 years, so the situation seems to be different then Fort Dix/ McGuire. Our taxes are very high here. It is incredibly expensive for everyone esp retirees to live in Maryland. stonegray' s point about the amount of profit you gain to justify waiting to sell is valid. It is a very hard decision for terryinmd because I don't think there is a wrong answer - only one that is better suited for you. You certainly can price your house for X and see what you get. You are not desperate to sell, you don't have to lower the price. See how much the market will bear.
My concern is the Mortgage Industry right now -that is scaring people.
If you are in a position to live where you want, semi retired & maintain a lifestyle that makes you happy - go for it! I wouldn't hesitate!

terry - I hope you see this - go to www.hometownannapolis - the local Annapolis newspaper "The Capital" - the front page all the jobs / households by area BRAC is expected to bring to the area to live and when. Maybe this will help you decide.

Followed your link roselvr, and found your artcle magothyrivergirl. It is all very iffy isn't it? I'm afraid my crystal ball is on the blink ;), but I'm leaning more and more to "go now". DH and I both hate to leave the vacation home when it's time to go.

terry, just curious - if you don't mind - where is your vacation home? I just want to be completely jealous when you leave this rat race, traffic congested area for your full time (maybe semi -retired ) vacation spot! Really, I am envious that you've reached that point in your lives to be considering it!

We're on water, 4' at our dock, which is plenty for a pontoon boat. We're on a cove off a creek which leads into Lake Gaston. This is a manmade lake for a power dam. It's between 85 and 95, on the VA/NC border. There is everything there from campgrounds and singlewide trailers, to multi-million dollar mansions.

Sounds wonderful !! You actually have enough water for a Sailboat! We sail - but a pontoon boat won't spill your beer & wine! I am more than jealous - we have a few more years - so I am hoping BRAC will help us when the time comes. Alot of my neighbors sold in the last few years for top dollar - they were original owners so walked away with mucho bucks. So we will need buyers in 3 years. Good Luck - and lucky you that you are able to have options. The climate is milder in that area - yet still seasonal. I guess you can tell I would GO if I could!

Just an update. Had the realtor over to talk. She was cautiously optimistic. Been in the business over 25 years, and has sen this kind of market before. Her advice was to wait til next spring. If the prime rate goes down, and/or there is a mortgage bailout, the market could improve.

We'd need a couple of months anyway to finish our projects, which would take us right into the holiday season. We're going to pick some projects that we can enjoy while we're here, and do a reality check again in Jan.

This weekend we bought a pale golden tan paint for the master bathroom, and 4 bags of peatmoss to spread on the clay and straggly grass we laughingly call a lawn.