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Think price or cost is the only factor you should consider when buying Virginia Beach Real Estate?
The below article by Steve Harney illustrates how Virginia Beach Real Estate buyers need to consider price vs cost.
The one point you need to take away from this post is that low interest rates and price still make it a very desirable time to buy Virginia Beach real estate with or without the tax credit.
The Price Is the Same, It Just Costs Less
by Steve Harney on April 26, 2010
in For Buyers
 Same Price, Lesser Cost
The papers will be full of articles urging homebuyers to purchase a home this week before the Homebuyer Tax Credit expires. The articles will be correct. Getting a home into contract by this Friday, April 30 will enable you to collect on the tax credit.
However, it is not just the tax credit that makes this the best time in a long time to pull the trigger on the home of your dreams. Prices have reached levels not seen since before the housing bubble. The following graph shows that, according to the S&P Case Shiller Pricing Index, home values have fallen to August 2003 prices.
You can purchase a home today at the same PRICE it sold for seven years ago.
And it will actually COST you less! This blog has been making the distinction between the PRICE and the COST of housing for months now. Price is what you agree is the value of the home. Cost is what you pay every month in the form of a mortgage payment. The cost is a combination of the price and the mortgage interest rate you will pay over the life of the loan.
Interest rates are at historic lows. Interest rates in August of 2003 were over a full percentage point higher than they are today. We can see in the table below that, even though you would pay the same price for a house today, your mortgage payments on a $200,000 loan would be $145.61 less each month. That is an annual savings of $1,747.32. Over the life of a thirty year mortgage you would save $52,419.60.
What does this mean to you?
If you can, get the home in contract by the end of the week for the sake of the tax credit. But if you miss that deadline, still move forward with the purchase before interest rates rise.
Also:
Virginia Beach and Hampton Roads short sales continue to grow in numbers. As of today, Virginia Beach short sale inventory is almost 400 single family and condo/townhomes.
Searching for single family new construction real estate in Virginia Beach?
There are over 40 Builders eager to sell homes and offering great incentives including closing costs, financing, and upgrades. New construction homes range in price from the low $200s to over $3 million - so something for everyone.
Get your new construction contract written before April 30, 2010 to use the first time or move up home buyer tax credit.
View all of these Virginia Beach new construction neighborhoods (enhanced real estate listings with photos) Garnett's Watch, Ridgely Manor, Sajo Farms, Chesapeake Shores, Mira Bella, Chesapeake Beach, Ocean Park, North Shore, Thalia Village, Woods of Little Neck, Thalia Acres, Gatewood Park, London Bridge, Shadowlawn, Beach Borough, Northend Va Beach, Estates on the Lynnhaven, Sherwood Lakes and Executive, Blackwater, Prince George Estates, Heritage Park, Ashville Park, Victoria Park, Mayberry, Mathews Green, Pungo, Sandbridge, Grassland Farms, Highcourt, Lake Archway, Thompkins Estates, West Neck, Hillcrest Landing, Indian Pointe, Bernard Farms, Highland Parish, Eagles Nest, Courthouse Estates, Indian River Plantation, and Woodbridge Pointe.
As always consult your REALTOR(R) about any of these Virginia Beach new construction developments. It's Free ;-)
Read the Virginia Beach and Hampton Roads Homebuyer Guide
Sherwood Lakes New Construction Blog Post
Condo Foreclosure Sales for 2009
Nice article that puts much of the mortgage stuff in perspective. I agree that the future will see much more financially stable homeowners. Via Elvin Lorenzo (FPF Wholesale):
During the Christmas and New Year's Holiday I got a chance to catch up with a lot of my old friends and family and of course we got to talking about the mortgage and lending industry! Yes, believe it or not, this is still a very popular topic these days! : )
We got to talking about horrible loans and the dishonest practice that took place in the past and other not so great experiences that they themselves and their co-workers experienced. I allowed them to vent and express their thoughts and opinions. After a good 30 minutes or so of people just taking turns of bashing the lending industry, the Obama Administration and all this bailout hooplah, I told them these magical words that caught everyone's attention:
"In today's lending environment and the many reforms that have taken place in the industry, I couldn't give you a bad loan if I even wanted to!"
This statement opened up a great discussion and informing everyone of how mortgages are done today and why people who are thinking of getting a new home or a new mortgage, should not be so scared.
Here are a few key reasons why getting a mortgage today is not only safe but to your advantage:
-
You have a choice of vanilla, vanilla and....vanilla! Would you like vanilla sprinkles with that? Mortgage Programs today are pretty straight forward - 30 Year Fixed, 15 Year Fixed and a few other terms in between. There are still a few ARM Programs hanging around but they're definitely not the exotic programs of the previous years and are actually a bit tougher to qualify for in some cases.
-
Interest Rates are still at all time lows! I really didn't want to use this line because it sounds so generic and "salesy" but I'd be lying if it wasn't true! Interest rate are still very low. How long will they last for? If I knew, I sure as heck wouldn't be doing this for a living! But take advantage of them while they're here!
-
The NEW FORMAT of Disclosing to Consumers. Folks, with the new disclosures and rules implemented with them, there are no more surprises at closing (and if there are you will know about it and you will be given time to think about it). Whatever amount of fees are disclosed to you up front (from the very begining), that amount has to stay the same or if it is different you will be given up to 7 days to think about it!
-
Tax Credit for Homebuyers has been extended! As the media has done a very good job informing everyone of this, the tax credit for homebuyers has been extended - just in time for tax season!!! Today's homebuyers will not only enjoy the benefits of buying a home at a very low price, enjoy tax benefits of being a homeowner but also have an additional tax credit of $8,000, too! (ask your tax advisor for further details).
-
Implemented Investor and Lender Overlays = Stable, New Generation of Homeowners and Mortgage Industry! Though this can be extremely annoying to the customer and everyone involved in the transaction, the good news in the midst of all the mayhem and scrutiny is that it does 2 things: (1) minimize risk for the lenders and investors which keeps the flow of lending, credit and cash throughout the whole system and (2) If you're able to get through all the scrutiny of underwriting, approvals, re-approvals and hoops required to jump through to obtain a loan - not only do you deserve to have that loan, YOU DESERVE A MEDAL!!! You're a solid and ideal customer to get a home and chances are, everyone else who got their home about the same time as you are solid and ideal JUST LIKE YOU! This is a start to what we all hope will be a stable, new generation of homeowners in America!
Again, for more specific information on your situation, please contact your tax advisor and local real estate and mortgage professional. Not sure who to contact? I'd be more than happy to refer you to someone in your area!
Be sure to add me on Facebook!!! Search: Elvin @ FPF Wholesale
Very good information for potential buyers.....I am a REALTOR(R), not a mortgage expert - consult and ask questions for yourself and you will do well. Via Jeff Belonger -- The FHA Expert.com -- FHA Loans -- FHA mortgages - USDA loans (Infinity Home Mortgage Company, Inc):
How many of you feel lost out there or even get help from someone such as a realtor letting you know that they can have their mortgage loan officer help you with your loan, yet you could still be lost. Not all referrals are good ones, just food for thought. I know this, because I have seen it happen more than it should, after a borrower comes to me after they had used someone else that was recommended. No, I am not perfect. But there is a lot more than just telling a borrower a rate and costs after looking at a credit score.
This post is not to point fingers, but to educate not only the borrower/consumer, but the realtor and some loan officers that might just do the basics. What do I mean about the basics?
Example :
Borrower : I am looking for the cheapest mortgage with no points. What can you do for me.
Loan Officer : What is your credit score?
Borrower : 659
Loan Officer : I could do 5.25% with zero points.
Borrower : Sounds great. Thanks and I will get back to you.
Important Update (example above) :
You should have received a Good Faith Estimate when someone gave you a quote. To show rate, points, and fees. And that loan officer should have asked about 10 basic questions, which I will talk about below. Important news now on this…. As of January 1st, 2010, there is now a new law in regards to RESPA and new disclosures. Please read below…
As of January 1st, 2010, no loan officer and or lender will be able to give you a Good Faith Estimate upfront when shopping for a mortgage. There will be about 6 triggers that have to take place for them to offer the good faith estimate. I think this will hurt shopping for a mortgage now more than ever before.
What has always been a pet peeve of mine is that many loan officers just give you what you want to hear. Yet they don't ask you some very important questions. One of those main questions should be about your goals, no matter if you are buying or refinancing. What questions should they be asking?
1. My first and biggest question. How much of a mortgage payment would you be comfortable with? A payment range, to include taxes & homeowners insurance.
2. How long do u plan on staying in the house. Yes, the borrower doesn't have a crystal ball, but many still have an idea. And this question should be broken down to 3 years, 5 years, and 7 years. Please read : My 10 top questions when interviewing a borrower.
2 very important mortgage tips :
1. Credit Scores - There are still some lenders that can do credit scores under 620, down to 550. Beware, they are almost impossible to close. I am getting about 2 e-mails a week now from borrowers that were told no problem, and the lender can't close. There are many reasons for this.
2. Making offers - I am also getting e-mails from those that just put an offer in on a house and now want to see about getting a mortgage. First and fore most, speak to a well qualified loan officer. And even though this loan officer should be interviewing you, interview them. Truly understand who you are dealing with and the company that they work for, no matter how you got their name. I can't stress this enough. SO much can be found on the internet about individuals and companies now.
Summary : Overall, there are going to be more issues when moving forward in 2010. Any loan officer that gives a true Good Faith Estimate upfront, could very well be out of compliance. Yet, if we aren't allowed to do this, how can a borrower shop effectively? What, just give the borrower a rate over the phone? That use to get under my skin from day one in this business, because anyone could do that. Rates change daily also. In any case, I will be talking about the new RESPA laws and breaking down the importance of this in Part 2. For a quick example to a negative impact on this new compliance, Gerry Suarez gives a good example of this. The Road to Hell and the new mortgage disclosures.
For some more good reading :
-
Mortgage shopping tips - The new Good Faith Estimate, 2010 RESPA compliance issues. - Part 2 of 2
_________________________________________________________________________________________
For more information on FHA loans, please go to this link. The FHA Expert
For more information about the 2009 Tax Credit for First Time Homebuyers : 2009 Tax Credit
For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags!
Copyright © 2010 by Jeff Belonger of Infinity Home Mortgage Company, Inc
Via Real Estate Tomato (Real Estate Tomato):
 Our goal is to reach 3000 registered attendees to VirtualReBarcamp.com!
The event is free being presented by 28 of the top minds in RE technology and social networking. Currently we have 1500+ registered attendee. To reach our goal we need your help. Fortunately, we have a ringer in our pocket: The generosity of ListingMoves.com. ListingMoves.com is going to be running a contest for everyone that helps us attain our goal.
Anyone that writes/re-blogs this post on ActiveRain about VirtualReBarCamp.com being held January 4th will be entered in a drawing to win one of the following prizes:
1. 1 year free subscription to ListingMoves.com premium package ($720 value)
2. HP Netbook Computer
3. Platinum RainCamp Access Pass (If you don't know what that is go to RainCamp.com or ask one of the guys here on ActiveRain they'll fill you in :-) )
4. One year free NetFlix subscription (3DVD's out at a time)
 The rules:
Comment below with the link to your post or re-blog so we can enter you in the drawing.
You can also tweet about this for a 2nd entry in the drawing and it can say anything to promote VirtualBarCamp but it must include #VREBC & #ListingMoves as hashtags for tracking purposes such as the following:
28Top real estate tech speakers present@ #VREBC Jan4 Register now by going to http://bit.ly/8BBZYu & qualify 4 $25 StarBucks GiveAway #ListingMoves
(ListingMoves.com will also be giving away 25$ starbucks gift cards to the 2000th, 2001st, 2500th, 2501st, 3000th, 3001st registered attendees and donate the same amount to the Warmath Children College Fund Charity)
Wow! Fingers crossed... come on 3000!
Every day we seem to hear some sort of news on the real estate market. One day it is great news about resales being up, new construction permits, foreclosures, etc., the next day doom and gloom.
Some important thoughts:
1. People are saving money right now and hunkering down. Responsible is the "in thing" again.
2. Most markets are experiencing an up tick in real estate home prices - quite the opposite.
3. Lenders are making life tough for responsible people who pay their bills to refi - even though it is out tax payer money for the most part and it would put most home owners in a better financial position to pay bills. Imagine if part of the stimulus money had been earmarked for responsible people to lower their current mortgage rate? Talk about an infusion of money into the economy.
4. The Government is out of control with spending and stimulus. The ordinary citizen could have done a better job directing where stimulus money is going for jobs. I have a few ideas - how about you?
Worst of all the Government wants no input from "average Joe American" - they are stuck on doing what is best for their political party and reelection.
Now for the good news: If you can afford a home buy it now. Interest rates are being driven down (some say artificially) to help you. Waiting to buy could essentially equal out if rates do climb (they have no other way to go) versus real estate prices declining over the next year. Most Important - Do not buy if you are not financially sound nor have a cash reserve.
Virginia Beach and Hampton Roads has plenty of homes to choose from - just look here.
Via Paul Slaybaugh, Scottsdale AZ Real Estate (Realty Executives):
- Housing will not fully recover until 2012. That is when the glut of backlogged foreclosures is expected to be phased out of the market.
- Housing will recover by the end of the year. Now that inventory has contracted to average levels for what constitutes “normal” regional markets in major metropolitan areas where prices have declined as much as 50% in the past three years, and month to month sales have steadily increased over the past six months, demand has realigned with supply to arrest the freefall in values.
- The housing recovery began in early 2009. Median price increases in some markets indicate that even while many pundits were openly wondering when the bottom of the market would appear, it was actually several months in the rearview mirror.
Many factors and variables, and just as many divergent opinions to boot. So many, in fact, that you almost have to choose amongst the purported experts to determine whether you fall in the half empty or half full category. Job rates, interest rates, unemployment rates … psychiatric rates, for spending too much time poring over the data and extrapolations will render one in need of a head exam.
Overanalysis 101.
You don’t need flow charts to tell you where things stand at the moment. You won’t need a market report to tell you when things are better.
You’ll know the market has recovered when you no longer dread the trip to the mailbox or evening phone calls.
You’ll know the market has recovered when you can confidently re-enable automatic bill pay from your checking account instead of prioritizing which ones get paid this month by how far past due each is.
You’ll know that the market has recovered when you don’t have to decide whether you or a loved one is really ill enough to warrant the cost of a trip to the doctor.
You’ll know the market has recovered when you no longer have to explain to the kids why you can’t go to the zoo or stop for ice cream today.
You’ll know the market has recovered when sleep comes as readily as worry formerly did.
You can stop looking to someone else to tell you when the market is fully healed as the housing implosion is the root of these greater ails. It’s far easier to take stock of your own life, and those of your friends and family, to see where along its arc the pendulum is currently settled. As the finance/housing sector dragged our economy into the muck, it will again lead us back to dry ground. No need to watch the stars for celestial clues. Just do what no pundit can and watch your own life for improvement. You’ll know housing has recovered when both of your own feet are planted squarely on terra firma.
Most importantly, beware the forecasts that don’t jive with your own internal index. Those who would adamantly assert the rosiest or bleakest prognosis are likely more interested in influencing your behavior than in your well being.
“Buy now before prices shoot back up!”
“Sell now before prices erode further!”
When you stop listening to yourself, you risk placing all of your trust in the megaphones of those who have a vested interest in your fear.
Is the housing market improving? Is now the time to buy? The time to sell? For months, I have been asked to provide the answers to these questions. I have dutifully provided my vague predictions with the obligatory caveat that no one truly knows how a free market will behave from one day to the next. I realize, though, that in supplying answers to those who actually give the market context, that we have all been looking at this thing from the wrong perspective. It makes zero difference where I think the market stands at present, and where it is headed. The very consumers who ask me these questions are the ones who will ultimately provide the truth or fallacy to my various hypotheses. So I turn the tables and ask the consumer, the actual authority, the very same question.
“What is the state of the Real Estate market?”
Feel free to comment here or send me an email with your thoughts. Looking for opinions from consumers and laypersons, not agents or financial wizards (all comments welcome, though). I will post the results in a follow-up piece.
Mr. Homeowner & Mrs. Homebuyer, the floor is now yours.
An excellent article for anyone having or considering getting credit cards. Home buyers should adopt this strategy 12 months before buying..... Via Tom Burris | Texas Mortgage Dallas Mortgage FHA (DallasLoanGuy.com):
When Credit Card Companies Lower Your Credit Limit
Has this happened to you? It may have happened and you didn't know it because it was tucked into the fine print of your recent bill. But if you aren't using the full limit..... Does this action by the credit card company help you or hurt you!?!?!?!?
It will hurt!! Plain and simple.
There is a term used by the experts in credit scoring.... And that word is Utilization. We are referring to how much of your revolving credit lines that you are currently using. And this is about 30% of your FICO Score.
So how can this hurt? Let's start with an example:
Joe owes $750 on his Visa card. The limit is $2500. Joe is currently using 30%(750/2500) of his credit limit. Experts agree that you should strive to keep that utilization % below 30% and the lower the better. Why? Because once you start approaching the higher percentages.... The FICO Scoring Method sees you as a great risk. Think about it.... Someone with 30% utilization vs someone with all of their credit cards maxed out.... Who is the better risk? Well, FICO knows.... and the person with the high utilization will have a much lower FICO Score as a result.
Ok.... So Joe is being responsible. His hot water heater breaks and he put that purchase on the card to the tune of 30% utilization. But then the credit card company lowers Joe's limit to $1000 to reduce their exposure to risk. Overnight, Joe went from a responsible 30% to utilizing 75%(750/1000) of his credit limit. Ooooops!!! Now what? Well, it is quite possible that Joe's respectable 720 credit score falls into the high 600s. Let's say 660 or so. What is the impact? Go try and buy a car with a 660 FICO and 720 FICO and see what interest rate difference you get. Try to buy a home on a conventional mortgage with a sub 680 FICO Score and see the if you are eligible for PMI.
But, Tom, I pay off the balance in FULL each month? So this doesn't affect me!!
Not so fast.... If you put $800 travel expenses on that $1000 limit credit card and that gets reported to the credit bureaus on the 4th of the month..... Yet you pay your bill on the 5th.... What number will FICO use? That's right, they will assume 80% utilization and dock you many points for it right then and there.
So, how can you protect yourself?
Keep more than one credit card.
Spread out large expenditures over a few cards.
Open a store card for that one time purchase(hot water heater example)
Know when your credit cards report your balance and pay history to Experian, Equifax & Transunion so you can pay off/down those cards before you apply for that big purchase like a car or new home.
Note: FICO says that it adds up all of your limits and all of your balances to calculate FICO. However, I have seen people suffer greatly by maxing out one card when they had 3 other cards with zero balance. Don't ask me why... This has been experienced by me more than once.
This credit scoring tip has saved many of my clients thousands of dollars... And it could save YOU many thousands too!!!
Did you know: That if a credit card company raises your interest rate that you have a right to cancel the card and pay it off under the old terms**?
** Remember: If you close that account, it lowers your total revolving credit available balance and could raise your 'utilization' which we discussed.
Tom Burris
DallasLoanGuy.com
Dallas, TX
http://www.dallasloanguy.com/
I write about Texas Home Loans , live in the Dallas, TX area and lend across the entire Great State of Texas!!
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you should live here.......The Lagomar neighborhood in Virginia Beach continues to be a sought out area for real estate. I make the southeast section of Virginia Beach my home for many reasons. 
Why:
1. Great school system with Kellam and Ocean Lakes High Schools, Princess Anne Middle (great school, I know my son attends), and Redmill elementary.
2. Near two of the finest beaches on the East Coast, the resort area (Croatan and North End), and Sandbridge. Fine real estate adjacent to all these neighborhoods.
3. Minutes to many golf courses including Hell's Pt, Heron Ridge, the Signature, and Virginia Beach National. All offer golf course homes except Virginia Beach National.
4. Minutes to shopping at Red Mill Commons. (Walmart, Starbucks, Panera, Outback, Chili's, Havana's, Inlet Fitness, and much more).
5. Moderately priced and upscale homes - some with deepwater access.
6. And 99 more Virginia Beach reasons here. Compare previous Lagomar real estate reports Current active real estate in Lagomar as of this post date:
| List Price |
Address |
Entered |
BR |
FB |
HB |
SqFt |
Year |
WF |
| VIEW PICTURES |
|
|
|
|
|
|
|
| 386,205 |
2517 MALAGA COURT |
7/1/2009 |
4 |
2 |
1 |
3519 |
1983 |
N |
| 389,000 |
1040 SOUTH CAMINO REAL S |
8/17/2009 |
3 |
2 |
1 |
2603 |
1979 |
N |
| 399,000 |
2401 TONO CT |
10/6/2009 |
3 |
2 |
1 |
2008 |
1984 |
N |
| 415,000 |
2404 VASO CT |
5/29/2009 |
3 |
2 |
1 |
2442 |
1980 |
N |
| 425,000 |
912 ESTRELLA CT |
7/23/2009 |
4 |
2 |
1 |
3000 |
1986 |
N |
| 509,900 |
2441 BRASILENO DR |
7/28/2009 |
5 |
3 |
0 |
3596 |
1995 |
N |
| 529,900 |
909 LA TIERRA CT |
9/24/2009 |
4 |
2 |
1 |
3300 |
1995 |
N |
| 579,000 |
2232 SANTA FE ARCH |
10/16/2009 |
4 |
3 |
1 |
3321 |
2002 |
N |
| 594,900 |
2329 VALLE RIO WAY |
4/1/2009 |
4 |
4 |
1 |
3730 |
2004 |
N |
| 634,000 |
829 COSTA GRANDE DR |
8/4/2009 |
5 |
2 |
2 |
3534 |
1995 |
Y |
| 649,900 |
2437 BRASILENO DRIVE |
9/8/2009 |
5 |
4 |
2 |
4798 |
1995 |
N |
| 665,000 |
2337 TIERRA MONTE ARCH |
4/17/2009 |
6 |
4 |
1 |
4845 |
2004 |
Y |
| 675,000 |
2480 LAS BRISAS DR |
10/9/2009 |
4 |
3 |
3 |
3578 |
1995 |
N |
| 680,000 |
2257 ZIA DRIVE |
10/9/2009 |
5 |
4 |
1 |
4630 |
2004 |
N |
| 698,900 |
2276 CHAMBERINO DRIVE |
6/27/2009 |
5 |
4 |
0 |
3924 |
2006 |
Y |
| 719,000 |
2421 SABINA WAY |
4/3/2009 |
4 |
4 |
1 |
3976 |
2004 |
N |
| 749,900 |
2232 VADITO WAY |
10/23/2009 |
6 |
4 |
1 |
4397 |
2004 |
Y |
| 749,950 |
2345 SANTA FE DRIVE |
9/17/2009 |
5 |
3 |
1 |
4453 |
2002 |
Y |
| 764,900 |
2329 SANTA FE DRIVE |
7/21/2009 |
5 |
4 |
0 |
4802 |
2002 |
Y |
| 787,500 |
2526 ENTRADA DR |
1/26/2009 |
5 |
3 |
1 |
4025 |
2003 |
N |
![Reblog this post [with Zemanta]](http://img.zemanta.com/reblog_e.png?x-id=f09e73fd-6fbe-4808-bc20-5288e4e36443) Also read:
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Question for real estate owners: Would you Mr. and Mrs. Buyer purchase a home with asbestos that is "friable" or not properly wrapped on pipes?
I am not really sure that seller's in Virginia Beach, Norfolk, Chesapeake, Suffolk, and other Hampton Roads communities understand the potential danger and "fear" that buyers may have when considering homes that have asbestos especially those where it has deteriorated and become potentially "airborne".
"Friable Asbestos" can be defined as: When asbestos is crushed it disperses a dusting of microscopic fibers in the air that can remain for very long periods of time. These fibers can be unknowingly inhaled and permanently lodged in lung and other body tissues, yet symptoms might not appear for 20 years or more. Inhaling the fibers has been linked to cancer and asbestosis, a chronic lung disease similar in symptoms to emphysema. Unfortunately there is no known safe level of exposure, which is why asbestos remains a concern today.
Homeowners considering removing asbestos themselves may want to read the cautionary and directions provided by the EPA - most likely you will then be educated and hire a professional certified in this type of work.
As a new real estate homeowner or potential seller, it is not likely that you are acquainted with the inner materials of a home.
However, most Virginia Beach, Chesapeake, Norfolk, Suffolk, and Hampton Roads buyers seek an updated home inspection before closing on a new property.
It is important to reassure buyers that the home is safe and does not contain any potential health hazards. These inspections are critical to clearing hurdles down the road that may slow the sale of property.
 One of the most common surprises new homeowners and sellers confront is asbestos in older structures.
Indeed, asbestos containing materials (ACMs) are now banned for use in the United States but many older buildings still contain these products, which are generally safe, but homeowners should be aware of where they are and when they become hazardous.
Asbestos was included in thousands of construction products and still exists in nearly 80% of homes built prior to 1978.
Common asbestos materials include attic insulation, ceiling tiles, and pipe lining.
Asbestos was particularly adept at insulation and prevention of temperature transfer and was used extensively until adverse health effects began to manifest in those who worked with the material frequently.
It is only when asbestos containing materials are compromised or very old that they become hazardous.
Asbestos products under these conditions are rendered “friable.” Home inspection companies should be able to identify these circumstances and advise you on a course of action. When asbestos material is friable, asbestos fibers can be released into the air, potentially endangering those in the area.
Inhaled asbestos fibers lodge in the body’s inner tissue and have been conclusively linked to the rare cancer, mesothelioma, commonly referred to as asbestos cancer, in addition to many other respiratory disorders.
There are few options for mesothelioma treatment or curative therapies for other conditions caused by sustained asbestos exposures. Homeowners need to be aware of potential hazards that may exist so they may be able to avoid potentially harmful effects of hazardous asbestos.
Again, most asbestos containing materials will not pose an immediate hazard and an informed buyer will not be turned off by their presence if they’re reassured of their safety by a professional opinion.
These simple precautions can be taken to assure that both sides know that they and their families will be happy and healthy in their new home.
Read also:
Virginia Beach, Chesapeake, Norfolk, Suffolk, and Hampton Roads Home Health Safety Check
Virginia Beach Foreclosure REO Feed
Croatan Real Estate Market Report Virginia Beach, VA
Bay Colony Real Estate Virginia Beach Actives and Solds
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Dennis Blackmore
Virginia Beach,
VA
More about me…
Creed Realty
Address: 4500 Holland Office Park ste 301, Virginia Beach, VA, 23452
Office Phone: (757) 502-4070
Cell Phone: (757) 343-4949
Email Me
Virginia Beach, Chesapeake, Norfolk, Suffolk, and all of Hampton Roads Real Estate
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