Crofton Real Estate Update - February 2009
By Margaret Woda, Maryland Real Estate & Military Relocation
(Long & Foster Real Estate, Inc.)
This roller coaster reminds me a lot of the real estate market in Crofton. The ups and downs are making me downright dizzy! In a nutshell, the market was better in February than it was a month earlier, in January. But it was worse than February a year ago. This was true in nearly every area that I've been tracking data since 2005. This time last year, there was some consolation in the fact that the average sold price was still above the 2005 level - in fact 5% higher. Anyone who bought their Crofton home after 2005 was at risk for a short sale, but anyone who owned their home longer would be "okay" - even if they had lost whatever value accrued during the real estate bubble of 2006. That would describe most homeowners in the Greater Crofton area. That's no longer the case, howe...
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