Contact MargaretIt’s Not Too Late to Invest in Crofton Real Estate
October 13th, 2007 Categories: Real Estate
You may have watched Crofton property values double, triple, or even increase ten-fold over the years. My first Crofton condo cost $21,000, and today it would sell for almost $300,000. But it’s not too late for YOU to invest in Crofton NOW and still have potential for profit.
If someone bought my first Crofton condo a few years ago for ten times what I paid – $210,000 -they would have about $84,000 profit today, a 40% increase in property value.
Okay, you say, but it’s a “down market” and this may not be a good time to buy. To that I reply, Bah, humbug! It’s a great time to buy because sellers are highly motivated, offering huge incentives and dropping their prices. ‘Truth is, this is a GREAT time to buy investment property.
If you consider that the Base Realignment and Closing Act is generating up to 22,000 new jobs in the Fort Meade area over the next six years, you can see that there has never been a better time to invest in Crofton. Based on the economic basic law of Supply and Demand, the expected housing demand for this area means Crofton property values are likely to increase more than other parts of the state and country in the next few years.
Consider this beautiful Crofton condo, for example, located off Johns Hopkins Road in the community of Crofton Mews, priced at $245,000. Listing agent Faye Johnson, of RE/MAX Vision in Crofton, describes it as follows:
Well maintained two-bedroom home… One level living never looked better than this! Beautifully maintained floors and recessed lighting accentuate this home. Kitchen has had many upgrades including appliances, flooring and counter tops. Low maintenance, fenced-in backyard.
This 2–bedroom Crofton condo would rent for $1,500/ month, making the cash-flow about even, with a 20% down payment and some types of financing. The property value may not multiply 14 times, as my first Crofton condo did, but I’m betting you’ll be pleased with your return five years from now if you don’t miss the opportunity to acquire some Crofton investment properties this year.
Why don’t you start by contacting me to look at this property and talk about the numbers. This Crofton condo could be just right for you!
Related articles:
How Many Crofton Homes On The Market?
Crofton Market Study – January – August
MLS Search for Homes
To receive timely notices about new posts to FocusOnCrofton.com, SUBSCRIBE NOW.
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _
I don’t think anyone has a real idea what the BRAC project is affect this whole area. They keep focusing on the Baltimore-Wash area…I feel it will go much farther out than predictions.
Bob, thanks for commenting. You’re probably right, but BRAC is certainly going to impact housing supply and demand in Crofton, just 15 minutes from Ft. Meade. ‘Wouldn’t be surprsed, though, to see some folks go a little farther (Frederick?) to explore options beyond the Ft. Meade area.
Margaret- you mentioned how Sellers are highly motivated to sell in this market and for the Crofton condo you referenced, I can attest to the fact that this seller is ready to accept an offer! Not only does this condo have a quaint front patio, it also has a well maintainted, fully fenced backyard! This property is great for an owner-occupant or someone looking to obtain an investment property to take advantage of the NSA employees already starting to move to the area. It’s a great time to buy! Start by scheduling to view this property. You won’t be disappointed!