I’m not one to use old sayings like Location, Location, Location. When I first took the real estate licensing course a long time ago, the instructor used the phrase constantly. I got so tired of hearing it, I don’t think I’ve said Location, Location, Location since. That is until this past weekend.
I fully understand the value of any home is dependent of any number of factors. Condition is certainly at the top of the list. Time of year and competing listings are part of the value equation. But when all is said and done, (to use another old saying) the overall desirability and value of a home often comes down to its location. Or at least, that’s the way it is in parts of Cecil County.
This weekend I showed listings in North East to a couple with a house to sell in Bel Air. There is no tangible way to compare the two real estate markets. Bel Air is part of the sprawling Baltimore metropolis with direct access to everything and anything.
The couple simply couldn’t come to terms with the prices of the homes I showed them. The homes were not overpriced. Cecil County is considered by some as the place to buy inexpensive real estate after selling a home for top dollar in Baltimore County or Harford County. Sounds like a good plan that might have worked in the past, but times change. While Cecil County real estate remains a solid buy, there’s been a noticeable price correction along the I-95 corridor, and properly so. Location is partly responsible for the increase in property values.
North East is removed from the banks of the Susquehanna River (the dividing line between Harford and Cecil Counties) by just a few miles. The town has direct access to I-95 and Route 40. There’s shopping, restaurants, marinas and a local college. I’m taking a one day course there later this week. There are hospitals in the nearby towns of Elkton and Havre de Grace.
While North East doesn’t have access to the same list of everything and anything that Bel Air has, it’s not rural living either. Not by any stretch of the imagination is it rural living. This weekend, while explaining, or defending, the prices of the homes I was showing, I found myself saying Location, Location, Location.
Reach out to me if you want to discuss property values in Cecil County or the value of your home.