Greater value in new homes in Virginia Beach and Chesapeake
Virginia Beach is one of the best cities to purchase a home in, the local economy is strong compared to most cities and home buyers can get alot for their money.
After touring many new homes, spec homes and meeting with the builders and their representatives new home purchases offer the new home buyer many perks.
Most builders seem to be offering closing clost assistance right of the back anywhere from $6,000 to $15,000. I what these builders would allow the money to go towards varried. One builder limited the monies to closts associated to the closing, not pre-paids or points. However, some builders would allow the monies to be used towards anything, even towards the purchase price of the home - This is BIG!!
There are about 500 new homes in the MLS, most in the high $200's to low $300's. One of my buyers recently wrote a contract on a new home site and the builder not only agreed to closing costs, he also provided granite counter tops. We were able to negotiate their pick of a lot without a lot premium as long as they reserved the lot and made a decission by a pre-determined date.
Many new homes offer 10 year home warranties, greater possible appreciation over the years and when compared to existing homes they are generally larger with an additional bedroom, have stainless steel appliances, standard upgrades that may not have been selected in the resale homes from 3 or 4 years ago.
If you are looking to purchase a new home in Virginia Beach, Chesapeake, or Norfolk call me lets discuss your specific needs.
The Virginia Beach real estate market continues to show signs of improvement. Recent trends show that inventory is declining, pending & closed sales are increasing. In Tidewater, we consider a healthy market to havea 6 month supply of homes, and we have just over that when factoring in pending sales. When we exclude these pending sales, we are looking at a 7 month supply of homes!
High end homes in Virginia Beach are selling! These are homes with 3000+ sq ft & priced over $500K. The last sixty days really tells the story. High end homes in Virginia beach are showing similar trends as the lower priced homes, those priced between 200K and 300K, that is a steady upward increase in sales and pending homes.
In the last 60 days homes priced over $500K are showing the following trends:
69 Pending sales. These pending homes have an average of 3500 sq ft, 4 bedrooms and 3 bathrooms the average sales price is $842K
There have been 85 Sold homes in Virginia Beach. These high end homes ahve over 3,000 sq ft, 4 bedrooms and 3 bathrooms. The average sales price for these homes is $780K.
If you are interested in viewing any home in Virginia Beach I am available to serve your real estate needs.
Tired of looking for a great deal in short sales and finding that you are wasting your valuable time? If you are a pre-approved home buyer looking for a home in Virginia Beach I have a an opportunity you need to know about. This home is located in Virginia Beaches Foxfire neighborhood ... this is a spacious 3 bedroom, town home listed at $244,900! Located at 2629 Bracston Rd, Virginia Beach, Va. 23456
What makes this home special? Besides the fact that it has high ceilings, no association, a garage and drive way you will be located only minutes from the Virginia Beach Ocean Front, 3 golf courses including the Arnold Palmer and the Herdon Ridge Golf Club. With almost 1800 Sq ft, this home has plenty of room for all your needs. Plenty of closet space, and generous sized rooms, you are going to me amazed with the master bedroom.
The master bedroom is larger than those found in most single family homes at this price point! With the high ceiling, large walk in closet and master bathroom suite you will be amazed - Easily fit a King sized bed!
This home is easy to see, simply call me, or contact your agent to schedule a showing.
Agents working with home buyers in Chesapeake and Virginia Beach with offers currently working, if your buyers are getting frustrated with the process and are pre-approved to purchase a home for $206,900 I have a great alternative for you to present to your buyers' in one of Chesapeakes' premier neighborhoods Riverwalk.
My client has a spacious two level condo unit for sale. This home has an open floor plan, wooded view from almost every room, and especially great view from the 2nd floor balcony. Not only does this home feature a view to write home about, it also has 3 bedrooms and 3 full bathrooms an over-sized LOFT perfect for a home office, or study that shares a full bath with the third room and possible "second" master bedroom. If your buyer is looking for closet space, and what buyer wouldn't wouldn't want more closet space? This home has plenty of storage and closet space with its over-sized closets and walk in closets your buyer will be delighted.
Don't worry about the condo fees, the seller is providing one year of condo fees. These fees are a bargain, the association maintains the grounds, the club house, pool and nature trails. In addition they also maintain the oust-side structure. Did you know that the average home owner, who has to maintain his own yard and structural repairs could easily pay over $160 per month just for basic yard maintenance.
Agents, take your buyers to see this wonderful condo located at 609 Sail Fish Quay Chesapeake Virginia 23320.
Large & inviting condo with spacious loft, 2nd floor wood deck with wonderful wooded view. You will be amazed by the large rooms & cathedral ceilings.Open floor plan, eat-in kitchen & living room have a great flow. Jetted tub in master bedroom, plenty of storage. Schedule your appointment today!
Attention Home Buyers! Open House in RiverWalk 12pm to 2pm
Food and Drink!
Are you looking for a home in Chesapeakes' prestigous Riverwalk community? I have a superb listing that you are going to love! This is a two story attached unit with 3 Bedrooms and 3 Full Bathrooms. This home features an impressive wooded view from almost every window, and an open floor plan complimented by a large loft over looking the living room. Enjoy a relaxing morning coffee, on their very own second floor deck, while taking in the beautiful scenery that this unit has to offer.
As a owner in Riverwalk, you will have access to the pool, clubhouse private parking and much more.
Open House date: 9/19/2009 From 12am to 2pm
Where: 609 Sail Fish Quay, Chesapeake Va. 23320 Get Directions: Google Map
Are you working with home buyers looking to purchase a home in Chesapeake, more specifically in Chesapeakes' Riverwalk community? I have a superb listing that your buyers are going to love! This is a two story attached unit with 3 Bedrooms and 3 Full Bathrooms. This home features an impressive wooded view from almost every window, and an open floor plan complimented by a large loft over looking the living room. Your buyers can enjoy a relaxing morning coffee, on their very own second floor deck, while taking in the beautiful scenery that this unit has to offer.
As a owner in Riverwalk, your buyers will have access to the pool, clubhouse private parking and much more.
Open House date: 9/19/2009 From 11am to 2pm Drop by, leave a business card for the door prize!
The overall health of the Hampton Roads real estate market is showing strong signs of improvement. With the current inventory levels holding steady and sales continuing to rise.
As with any market, the real estate market utilizes key indexes to judge the health of the market. Based on the indexes know as the "absorption rate", "months' supply" and List Price to Sale Price (lp/sp).
It is widely accepted that a healthy market, where neither the seller nor the buyer have an advantage over the other, has a 6 month supply of inventory.
It is interesting to see the LP/SP comparison. That is how low home sellers are actually accepting (sale price), on average, when compared to their LP (list price).
Virginia Beach has a 7.39 months supply of residential real estate, that is at its current rate of home sales and inventory it will take just over 7 months to sell all the existing homes. The average home sale in Virginia Beach was $277,000 represent just under 3% of the average list price of $286,000.
This also indicates that home sellers have moved their home prices to "rock bottom" leaving little room to negotiate both closing cost and sales price. As the months supply reaches 6 months, we will begin to see sale prices increase slightly along with fewer buyers' concessions accepted.
While it is not generally reported in the MLS, it is understood that many home buyers continue to ask for, and receive closing cost assistance from the seller anywhere from 2 to 4 percent.
Interest rates are low! Most recently rates have dipped to the low 5's, home prices have dropped to "rock bottom" and sellers are still providing some concessions. If you have been sitting on the fence just thinking about purchasing a home the time has come to get off the fence and to call me for a no obligation home buyers consultation.
You just received your orders to transfer to NAS Oceana, Dam Neck, NOB or any of the other bases in Virginia Beach and Norfolk. Now you need to determine your next step.
A military relocation to a new city can be very stressful, and in some cases complicate. After all you are packing up your family, your property, and saying good-bye to friends and family, then moving it to a new home possibly across the country. This is no easy task!
My job, as a military relocation specialist, is to help make the entire process as easy as possible. To work with you and your family to find that PERFECT place that you can call home. As a professional Real Estate Agent helping the military members of the US Armed Forces relocate to Virginia Beach is my top priorityl. I can provide you with great tools, at no cost to you. These tools can help you search and categorize all of the available homes that meet your specifications.
Wether you are looking to purchase or sell a condo, townhouse, single family detached in Norfolk, Virginia Beach, Chesapeake I am here to help you with all of your real estate needs.
Is City Assessment of any real value, other than to the City?
I like looking at numbers, specifically numbers that have some bearing on the real estate market in the cities that I work in. I ran a simple MLS report looking for all the SOLD transactions in the City of Chesapeake between 3/9/2009 and 4/8/2009.
The resulting report showed 181 Sold Listings, the average sold property is a 3 Bedroom, 2 Bath, 2,095 Sqr Ft home with a sale price of $272,000 sqr feet with an average of 97 days on the market.
I then looked at city assessments versus the sale price on the average home sold. I ran my second report based on the average sold home in Chesapeake, Va., with a sales price between $260K and $280K, and a closed date between 3/9/2009 and 4/8/2009.
The resulting report only identified 12 homes out of the original 181 sold homes in Chesapeake. The average sale price of these homes was $270,000 for a 3 bedroom, 2 bath home with 2,013 sq. ft.
I then looked at the sale price and the tax assessment of each home. Here is what I found:
8 out of 12 homes sold for less than the city assessment!
In the cities I work in, the city assessment should reflect the Fair Market Value of a home. In the sample case, I found that the city of Chesapeake Va, was off by an average 7%. On a home assessed at $200,000 the actual Fair Market Value would be about $186,000. Currently the city of Chesapeake charges $1.04 per $100 of assessed value in Non-Mosquito controlled areas.
Assuming the city over valued a home by $14,000 resulting in an assessment of $200,000 the tax paid will be $2,080. The tax paid on the fair market value, $186,000 would be $1,934 resulting in a difference of $146. According to the City of Chesapeake, there are 72,000 homes. If just half of these homes pay $146 over what they should be, the City of Chesapeake Va. may be over charging the home owners by as much as $5,256,000.
New homes for sale in Virginia Beach, Chesapeake, and Hampton roads as well as local real estate trends.
If you have a client how is moving to the Hampton roads area (Virginia Beach, Chesapeake or Norfolk) Please contact me regarding referrals.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
SEAN SCHROEDER The Real Estate-XChange 517 Baylor Ct Chesapeake, VA 23320 Phone: 757-839-3954 Fax: 757-410-7894 Email: seanschroeder@757realproperty.com Web: http://www.757mls.com 
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