Most of Atlantic Builders’ customers now are moving to the Fredericksburg region because of BRAC. To get more understanding of all the upcoming changes particularly at MCBQ, I am attending an event called “The Role of Marine Corps Base Quantico in the Regional Economy”. I have learned that new contracts awarded in the past quarter are down due to the federal government budget impasse. Chatter at my table shows that government workers are concerned about their financial futures and retirement benefits. I have faith that by Aug 2 a good compromise will be reached and normality and stability will continue.
Marine Corps Systems Command alone contracts over $500,000,000 annually. MCSC expects to hire 1,100 new positions between FY 2012 and 2015 around Quantico. Four new hotels off Route 1 in North Stafford are being planned to handle the over 260 people on average being trained daily at MCBQ.
Median sales prices in Stafford County have increased from about $215,000 to $250,000 per home in the past 6 months. There is only a 2.5 months supply of homes listed in MRIS in Stafford County. A balanced market is considered about a 5 month supply. So Stafford County in particular is now a home seller’s market.
Visit this link to view power points of the various presentations today.