It’s no secret that rental properties in the Potomac Communities are in high demand.
Some say it’s because of the military’s Base Realignment and Closure.
BRAC, as its known, is expected to bring more than 20,000 new military and federal workers to the Ft. Belvoir Army Garrison and Quantico Marine Corps Base, and landlords know those who relocate to these jobs will want to live where they work.
“At least two or three times a week I get an email request from someone relocating to the area. They want a reasonable commute to Fort Belvoir…access to public transportation to D.C. Easy enough to do. Then the hard part or perhaps the reality part hits. Most often they want a three or four bedroom detached home with a garage for under $2,000 a month. Unfortunately reality is the rental prices for a detached homes meeting this criteria starts closer to $2,300, and more likely will be $2,500 or more per month,” stated Woodbridge-based real estate agent Cindy Jones in her blog.
Jones says those who move here can opt for a longer commute time and choose to live in Prince William County to find a home at the $2,000 price point.
Northern Virginia is still a buyer’s market out there, real estate agents say.
It seems many people who are looking to rent still want to see if the market will go any lower, still waiting for their best deals, said Stafford real estate agent Rob Rachon.
“Purchasers are becoming wiser because people do not need to make decisions in one day if they want the home or risk losing it. If they lose out on that home, there will mostly likely be another one like it on the market next week,” said Rochon.
In Stafford, the market has yet to see a major influx of people relocating to the area because of BRAC. But they are coming, says Rochon.
“As people move down here for BRAC the pace will pick up, that’s going to bring more people to the area and fill jobs,” said Rochon.
