Virginia Beach and Chesapeake Homes for sale

Updated information on the Home buyers tax credit - EXTENDED and EXPANDED

Sean Schroeder (The Real Estate-Xchange) — Wed, 09 Dec 2009 12:50:13 -0600

By now you’ve heard the new law, The Worker, Homeownership and Business Assistance Act of 2009, went into effect November 6, 2009, which extends and expands the first-time homebuyer tax credit, making it available to move-up buyers and expanding the income limits for purchasers.

Under the new law, home buyers have until April 30, 2010 to enter into a binding contract to qualify for the tax credit and purchase must be settled until June 30, 2010.

First-time home buyers, a buyer who has not owned a primary residence during the three years up to the date of purchase, with adjusted gross incomes up to $125K (singles) or $225K (married) can get the maximum $8,000 tax credit. Homebuyers with an income over $145K for singles or $ $275K for married may be eligible for reduced credit.

Current homeowners, a buyer must have owned and used the same home as a primary residence for at least five consecutive years of the eight-year period ending on the date of purchase of new home, meet the same income requirements the first-time buyers, are eligible for a credit of up to $6,500.

Taxpayers have the option of claiming the credit on either their 2009 or 2010 tax returns for all qualified home purchases in 2010.

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

Buyers able to get MORE home for their dollars than ever!!!

Sean Schroeder (The Real Estate-Xchange) — Fri, 04 Dec 2009 11:11:34 -0600

Virginia Beach real estate market.

The Virginia beach and surrounding Hampton Roads real estate market has shown significant signs of improvement since the beginning of the year when our monthly supply of inventory was in the double digits. Today, the local real estate market is in the single digits with home values leveling out, and in some areas, home values have even begun to rise. Due to the drop in real estate values, federal tax credit, and low interest rates home buyers have found themselves to be in the midst of the best real estate that we have seen in almost three decades.

As with any economic trend, and real estate is no exception, we have market indicators similar to the DOW and NASDAQ. One of our key indicators is the Months Supply of Inventory ( MSI ) which tells us how long at current sales levels it will take to sell the existing inventory. A healthy market is considered to have a 6 months supply of inventory ( MSI ) at the beginning of the year Hampton roads had reached a 12 MSI. Today in Virginia Beach, we are seeing the months supply of inventory decreasing, currently at 7.1 and factoring in pending sales we are at 6.75. We reached our highest number of pending transactions, 794 in total in Virginia Beach towards the end of October. This was in part due to the anticipated end of the First Time Homers tax credit. November pending transactions had decreased to 720. Since October, we have seen the 12-month sales trend increase from 5123 closed transactions to 5594 an increase of almost 9% while existing inventory for the same period has dropped by 8% from 3563 to 3291 homes. It is possible that we will have a normal market sometime in 2010, with modest appreciation.

In October, the Mortgage Bankers Association (MBA) issued a report that the average contract interest rate for a 30-year fixed rate mortgage has decreased to 4.83 percent. The the cost of money at historic lows, home prices in Virginia Beach and Hampton roads have reached the bottom. Home buyers, particularly first time and move up home buyers who qualify for the Home Buyers tax credit, will benefit from the affordability conditions that have been created due to the "bubble affect". Home buyers haven't had this much buyer buyer since the 1970's.

2010 will present great opportunities for home buyers to take advantage of the historically low home prices and interest rates. With the extension and expansion of the home buyers tax credit, more buyers will be able to take advantage of the current market conditions resulting in a more balanced and stabilized market.

Scan this:

image with your cell phone
go to http://get.beetagg.com for the application

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

New homes for sale in Virginia Beach and Chesapeake.

Sean Schroeder (The Real Estate-Xchange) — Tue, 17 Nov 2009 13:27:53 -0600

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.

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

Virginia Beach real estate information and resources

Sean Schroeder (The Real Estate-Xchange) — Fri, 23 Oct 2009 12:38:16 -0500

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.

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

Buying a Home in Virginia Beach? Tired of looking at Short Sales for a deal?

Sean Schroeder (The Real Estate-Xchange) — Mon, 19 Oct 2009 21:15:53 -0500

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.

To view an online broucher

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954

Equal Housing Opportunity (EHO)

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

ATTN Chesapeake and Virginia Beach Real estate agents working Short Sales

Sean Schroeder (The Real Estate-Xchange) — Mon, 28 Sep 2009 16:43:39 -0500

609 Sail Fish Quay
Chesapeake, Va. 23320

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.

Virtual Tour

Offered and Marketed by:

The Real Estate-XChange
Sean Schroeder, REALTOR
757-839-3954

517 Baylor ct. Chesapeake, Va. 23320
Equal Housing Opportunity ( EHO )

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

Riverwalk Condo For Sale - MOTIVATED

Sean Schroeder (The Real Estate-Xchange) — Mon, 21 Sep 2009 11:22:45 -0500

JUST REDUCED!!!!!

609 SAIL FISH QUAY $206,900

MLS #: 0936798

Property Features

List #: 0936798 Appliances: Refrigerator, Washer, Dryer, Dishwasher, Elec Range, Microwave

Status: Active Interior Features: Cathedral Ceiling, Walk-In Closet, Window Treatments, Skylights, Walk-In Attic

City: Chesapeake VA Exterior Features: Wooded, Deck

Zip: 23320-2092 Exterior Siding: Stucco, Vinyl

Subdivision: RIVERWALK Pool: No Pool

Property Type: Residential Heating: Natl Gas

Type of Home: Attached Cooling: Central Air

Style: Contemp, Townhouse Equipment: Cable TV Hookup, Ceiling Fan, Jetted Tub

Home Owner's Association: 33 Amenities: Clubhouse, Playgrounds, Pool, Tennis Cts, Trash Pickup

Condo Fees: 203 Parking: 1 Car

Unit Description: 2 Living Lvl, End Unit Fence: No

Bedrooms: 3 Fence Description: None

Full Bathrooms: 3 View: Wooded

Half Bathrooms: 0 Waterfront: No

Rooms Other: Attic, 1st FBR, Mstr Bdr w/ Bath, Utility Closet, Utility Room, Loft Waterfront Description: Not Waterfront

Rooms: 6 Lot Dimensions:

High School: Oscar Smith Lot Depth:

School Other: Lot Frontage:

Year Built: 1995 Lot Acreage:

Stories: 2.0 Zoning:

Square Footage: 1770 Water: City/County

New Construction: No Sewer: City/County

Flooring: Carpet, Vinyl Water Heater: Gas

Foundation: Slab Disclosures: Disclosure Statement, Prop Owners Assoc

Fireplaces: 1 Miscellaneous: Vacant, Warranty Plan, Pet Restrictions

Additional Features

Comments: 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!

To request more information, contact...

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 BACK Property 2 of 11 NEXT My Listings › Property Details Featured Property| My Listings| My Office Listings| Buying/Selling| Tips for Success| Contact Me
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 Information is Not Guaranteed and Should Be Independently Verified for Accuracy. Copyright 2009 Real Estate Information Network, Inc. Terms of Use Listing Broker Disclosure

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Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

Riverwalk home for sale. OPEN HOUSE 9/19/2009

Sean Schroeder (The Real Estate-Xchange) — Wed, 16 Sep 2009 21:39:29 -0500

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

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Sean Schroeder, REALTOR
The Real Estate-XChange
757-839-3954

517 Baylor Ct. Chesapeake, Va 23320

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

RiverWalk Chesapeake Virginia - OpenHouse 9/19/2009

Sean Schroeder (The Real Estate-Xchange) — Wed, 16 Sep 2009 21:29:46 -0500

Attention Hampton Roads Real Estate Agents!

Brokers Open House - Door Prize - Food and Drink!

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!

Where: 609 Sail Fish Quay, Chesapeake Va. 23320

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Sean Schroeder, REALTOR
The Real Estate-XChange
757-839-3954

517 Baylor Ct. Chesapeake, Va 23320

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

Buyer’s Market beginning to weaken!

Sean Schroeder (The Real Estate-Xchange) — Mon, 14 Sep 2009 10:12:50 -0500

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.

Sean Schroeder, REALTOR
The Real Estate-XChange
757-839-3954
SeanSchroeder@757realproperty.com

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

PCSing to NAS Oceana, Dam Neck - Virginia Beach

Sean Schroeder (The Real Estate-Xchange) — Mon, 29 Jun 2009 10:03:39 -0500

Moving to Virginia Beach due to military orders?

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.

Feel free to call me at 757-839-3954 or email me

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

Sale prices versus tax assessment

Sean Schroeder (The Real Estate-Xchange) — Wed, 08 Apr 2009 22:12:14 -0500

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.

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

New browser for your mobile phone

Sean Schroeder (The Real Estate-Xchange) — Tue, 07 Apr 2009 10:06:18 -0500

ARe you like me? Tired of the default browser on your PDA or Smart Phone? Are you looking for a full featured web browser for your mobile phone? Three weeks ago, while using the default internet explorer browser in my phone, I became highly frustrated with its inability to render a page in such a way that I could actually use it.

I ran a quick Google search for an alternative browser and I found one with great potential. The browser is called SkyFire. When I read their description, which i pasted below I had to try it out!

                                    "Skyfire is a free, downloadable mobile browser that gives you a web browsing
                                    experience exactly like PC browsing. For the first time ever, on your phone,
                                    you can watch any video, connect with friends, listen to music, shop, and browse
                                    the web using the full-featured PC versions of your favorite websites. With
                                    Skyfire, mobile browsing just works
                                    -- speedy page loads, full video, images and audio."
                                       - SkyFire web site { www.skyfire.com }

The SkyFire browser is unique in the way it handles requests. When you request a website, such as ActiveRain.com, the request is goes directly to the SkyFire server. The server than makes the request for the website, renders a graphic representation of the page and sends this graphic back to the PDA or Cell Phone with "hot spots". It appears to be a mini-flash overlay.

All the buttons work as expected, the text fields and pull down menus work wonderfully, and it also plays videos as it would on you home or office computer. The start screen is also rather interesting, it uses tabs like FireFox and allows you to ADD your FaceBook and Twitter accounts.

Oh, by the way, you can also become a "friend" of SkyFire on FaceBook...

To install SkyFire on your mobile device simply visit http://www.skyfire.com and their system will identify your device, prompt you to install the program and you are up and running.

This browser is currently in BETA, I can't wait to see the next release!

To view an online demo of SkyFire

Try out SkyFire for your self and let me know what you thought.

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

Is Our market is normalizing, we are seeing a downward trend.

Sean Schroeder (The Real Estate-Xchange) — Mon, 26 Jan 2009 17:49:18 -0600

Some downward trends are desirable

In the not so distant past, we watched as the number of listed homes quickly out paced the number of qualified home buyers, eventually forcing sellers to not only accept lower prices than they had originally expected, but to also provide Closing Costs Assistance and other seller concessions. We call this the law of supply and demand!

As real estate agents, we like to look at market statistics. One of the more interesting stats we look at is the Average Month supply, in other words, at current sale trends, how many months will it take to sell off the current inventory. This number is as important in real estate as the NASDAQ and S&P indexes are to those who buy and sell stocks.

Throughout 2008, we watched helplessly as the average month supply of homes steadily rose to over a 10 month supply. To put this this in perspective, a "healthy" market is cosidered to have a 6 months supply of homes.

In January 2009, 1,434 homes have sold and are under contract in an average of 87 days. The current inventory of 9,058 will gives us 8.67 month supply of inventory.

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

Home For Sale Smithfield Virginia

Sean Schroeder (The Real Estate-Xchange) — Thu, 15 Jan 2009 20:59:45 -0600

*** ONLY 15 minutes from OBICI Hospital ****

Currently priced at only $299,700 ( Best Value In The Neighborhood ! )

This wonderfull 4 Bedroom, 3.5 Bth home with Jack and Jill bath, in ground pool, hard wood floors, Jetted Tub in master bedroom and two level wood deck over looking in ground salt-water pool. Great floor plan with Open Eat-in kitchen, wood and glass French doors open to study. This home offers plenty of space to entertain. This is a must see!

Virtual tours and more information can be found at www.hrshortsales.com and www.757mls.com

This home is proudly marketed by:

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

Are you sitting on the fence?

Sean Schroeder (The Real Estate-Xchange) — Tue, 06 Jan 2009 13:49:59 -0600

If you are sitting on the fence, you are not alone. Many home buyers just like you, are waiting to see what happens in the real estate market. It isn't surprising home buyers are missing out on terrific real estate opportunities. With all the doom and gloom in the news regarding the nation's real estate market, banks going out of business and the high number foreclosures I am not surprised that you are hesitant about purchasing a home.

The truth of the matter is ...

The high number of foreclosures, bank closings and mortgage defaults are creating a great "BUYERS MARKET". These issues have resulted in lower interest rates, which have dropped to "historic lows" currently around 5%. The number of foreclosures has increased, resulting in additional competition that is driving down home prices, and forcing sellers to offer closing costs assistance.

It is ironic that the very issues that the media has been focusing on are the very
reasons why you need to get off the fence today.

We are offering Free Home Buyers Bus tour of bank owned and foreclosed homes on January 24, 2008. Connie Ramsay with the Lending XChange, Sean Schroeder with The Real Estate-XChange, John Burke whit House Masters and Alison Rodriguez with Title Quest, will host the tour. We are there to show you homes, and to discuss with you the ins and outs of purchasing a home in today's exciting real estate market.

One last thought, as interest rates hit these historic low's, a small increase in home prices of 10% will negate a 1% decrease in your interest rate. The old saying is "Buy Low, Sell high" this is about as low as we can go.

Call today to for more information on our Home Buyers Bus tour at 757-839-5458 or email kathy.schroeder@757realproperty.com

Sean Schroeder, REALTOR

The Real Estate-Xchange
757-839-3954

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

FREE Home Buyers Bus Tour

Sean Schroeder (The Real Estate-Xchange) — Sat, 03 Jan 2009 23:31:09 -0600

Hampton roads home buyers bus tour

View foreclosed and Bank Owned Properties

It is a wonderful time to purchase a home! Home prices and interest rates are low and in 5, 8 or 10 years the purchase you make now will earn more equity than if you wait. For this reason, we are putting together a "Home Hunters Bus Tour" featuring up to 10 or more homes, personally selected and previewed by Sean Schroeder. Many of these homes are Pre-Foreclosures, Short Sales, Bank Owned or Standard Listings. Each home will offer substantial value, and strong equity gains in the years to come.

The tours are sponsored by Title, Mortgage and home inspectors. These professionals will be available to help explain and point out issues that may affect the purchase of a home. Each guest will be provided infomation on all the homes to be viewed, mortgage information and options available, title information, and facts regarding the purchase of of bank owned, pre-foreclosure properties.

This tour is available to anyone looking to purchase a great value in Hampton Roads. We will offer tours in all the 7 cities: Virginia Beach, Chesapeake, Norfolk, Portsmouth, Suffolk, Hampton and New port News.

To register for the Home Hunters Bus tour, or to recieve a schedule
please contact: Kathy Schroeder
                      Email: kathy.schroeder@757realproperty.com or
                      Call:   757-839-3954

ONLINE REGISTRATION

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

Big Changes for 2009!

Sean Schroeder (The Real Estate-Xchange) — Tue, 30 Dec 2008 07:56:32 -0600

I have been a full time real estate agent since 2004. My wife, Kathy, has helped me throughout the years with my business. Over the last several years she has wanted to spend more time with her family and our son Ethan. But working a full-time job, for 11 years, at the Virginia Pilot prevented her from her goal. On Christmas eve she gave our us a wonderful gift. Her resignation letter! Though this was in the planning for some time ( 4 years ), she had to take the leap on her own. Yesterday, she delivered this letter and she began her new career as a full-time MOMMY and real estate assistant and coordinator. Wow 2009 is going to be exciting!

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

Relocating to Virginia Beach

Sean Schroeder (The Real Estate-Xchange) — Fri, 19 Dec 2008 13:45:57 -0600

Relocating to the Virginia Beach Area?

Are you relocating to the Virginia Beach, Chesapeake, Norfolk area due to military orders, job relocation or family? The Tidewater area offers home buyers many great opportunities in a wonderful and diverse area. Virginia Beach offers many City owned and National parks. Most notable of these parks is First Landing National park which offers several miles of hiking trails, as well as beach camping. Virginia Beach's wonderful coast line provides swimming, fishing ( piers ), live out door bands, Neptune Festival and much more.

To learn more about what homes are available in Tidewater use the Relocating to Virginia Beach page.

Make your relocation to Virginia Beach, easier by relying on a life time resident of the Tidewater area.

Do you have questions about your relocation to Virginia Beach? Please feel free to email me your questions and I will get you a prompt answer.

Sean Schroeder, REALTOR
The Real Estate-XChange
757-839-3954
seanschroeder@757realproperty.com

Relocating to Virginia Beach; Relocating to Chesapeake; Military orders to Virginia Beach

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

Smithfield Va. Home For Sale --

Sean Schroeder (The Real Estate-Xchange) — Sat, 13 Dec 2008 23:14:15 -0600

*** ONLY 15 minutes from OBICI Hospital ****

Currently priced at only $299,700 ( Best Value In The Neighborhood ! )

Virtual tours and more information can be found at www.hrshortsales.com and www.757mls.com

This home is proudly marketed by:

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

3 OPEN HOUSES on DECEMBER 21st in Smithfield Virginia Come and join us

Sean Schroeder (The Real Estate-Xchange) — Thu, 11 Dec 2008 20:21:41 -0600

The Real Estate-Xchange will hold 302 Nottingham Place open to the public between 12 and 4. Durring this same time frame 2 other homes will also be open. Connie Ramsay, with the Lending Exchange will be available to answer your questions regarding loan options, and to get you pre-approved.

The three homes on the tour are:

302 Nottingham Place, Marketed by The Real Estate-XChange
212 Winchester Place, Marketed by Greg Garrett Realty
201 Keswick Place, Marketed by Liz Moore & Assoc and held
open By The Real Estate-XChange.

For more information regarding this open house please call Sean Schroeder at 757-839-3954

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

which is a better deal Short Sale or Bank owned property?

Sean Schroeder (The Real Estate-Xchange) — Mon, 08 Dec 2008 22:07:22 -0600

Short Sales and Bank Owned properties in Virginia Beach

Are Short Sales a better deal than Bank owned properties?

Every Monday, I pull up a lot of interesting information from the MLS. And today was no exception. In Hampton Roads, also known as Tidewater, is made up of 5 cities in this report I will focus only on Chesapeake, Virginia Beach & Norfolk.

Virginia Beach itself is the fastest growing City in Virginia with over 500,000 households and growing.

The Tidewater real estate market is buffered, unlike many other cities, we have a very strong Navy presence. But, even with this we have our share problems too. Currently The Greater Tidewater area has 274 short sale listings & 303 Bank Owned Properties.

The average short sale property in Virginia Beach has 3 bedrooms, 2 bathrooms, 1969 Sqr feet and has an average list price of $292,000. The average List Price per Sqr Ft on the short sale properties is only $144.

The average bank owned property in Virginia Beach also has 3 bedrooms, 2 bathrooms, and has 1,738 sqr ft with an average list price of $223,000. The average List price per sqr ft on the bank owned property is $130.

During the Month of October 2008, 12 Short Sale properties closed:

Beds Baths List Price Sale Price SP/LP Percent
High 4 3 $799,000 $799,000 103%
Low 2 1 $155,000 $150,000 91%
Average 3 2 $293,496 $288,500 97%
Median 3 2 $247,450 $242,500 97%

From the information above, Average and Median home sold for 3% less than the list price. Most short sales, are priced to sell, usually below the the fair market value.

Looking at Bank Owned properties during the month of October 2008.

Beds Baths List Price Sale Price SP/LP Percent
High 5 4 $679,900 $655,000 115%
Low 2 1 $104,900 $95,000 77%
Average 3 2 $263,714 $247,846 95%
Median 3 2 $239,900 $215,000 96%

Comparing the information between both Short Sale properties and Bank Owned. We see
that the Bank Owned Properties sell for fare less than the Short Sale properties, and at 95% of the list price as well.

First this tells us that the banks get less when they sell properties than do the current owners when a Short Sale is used with a professional real estate agent.

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

Short Sale Deal in SmithField Virginia -- Quick won't last!

Sean Schroeder (The Real Estate-Xchange) — Sat, 29 Nov 2008 00:36:40 -0600

302 NOTTINGHAM PL, Smithfield, VA

Must see first! 4 bed 3.5 bath home w/ inground pool & large hardwood flooring, jetted tub in master bath & deck overlooking the inground pool and MORE.

For more information and to view virtual tour of this property please visit www.757mls.com

4BR/3.5BA Single Family House

$299,700 Best Value In the Area!

Year Built	1998
Sq Footage	2,290
Bedrooms	4
Bathrooms	3 full, 1 partial
Floors	wood
Parking	2 Car garage
Lot Size	23,522 sqft
HOA/Maint	$0 per month

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
Hardwood floor	Family room	Living room
Office/Den	Dining room	Breakfast nook
Dishwasher	Refrigerator	Stove/Oven
Laundry area - inside	Yard	Swimming pool
Jacuzzi/Whirlpool

ADDITIONAL PHOTOS

All Offers Are Subject to Bank Approval-- Call for details

Seller contact info:

Sean Schroeder

The Real Estate XChange

757-839-3954

517 Baylor Ct.
Chesapeake, Va. 23320

Equal Opportunity Housing

Posted: Nov 26, 2008, 9:19pm PST

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

Foreclosure or Short Sale?

Sean Schroeder (The Real Estate-Xchange) — Sat, 08 Nov 2008 15:47:32 -0600

The most common question I get now has to do with short sales and foreclosures.

As a Professional real estate agent I am asked many questions as I am out meeting people. Lately one of the most common questions that I am asked is "Which is better for me Foreclosure or a Short Sale?" Generally speaking a Short Sale is slightly better than a Fore Closure, or even a deed-in-lieu of foreclosure. It should be noted that all three options Foreclosure, Short Sale or Deed-in-Lieu of foreclosure have a derogatory affect on your credit score ( FICO ). Foreclosures and Short Sales all require seasoning. Meaning that a certain amount of time must elapse before you will be able to purchase a home, with a bank loan. The seasoning of a foreclosure is 5 years and that of a short sale is only 2 years. Once a property is foreclosed on, that fact is kept in public records for a period of 10 years, this is known as a "derogatory public record" which is one of the three categories that can greatly lower your score. The other two are Serious Deliquencies and Collections filed. Many home owners who are facing foreclosure, are either seriously behind in their mortgage payment or anticipate that they will soon be unable to pay as required. This alone will also affect your credit report. : When applying for credit anyone who has been foreclosed on must attest to that fact by answering the following two questions:

Have you had property foreclosed upon or given title or deed in lieu thereof in the last 7 years? (Y/N)
Have you directly or indirectly been obligated on any loan which resulted in foreclosure, transfer of title in lieu of foreclosure, or judgment? (Y/N)

It is likely that after a short sale, foreclosure or deed-in-lieu of foreclosure that the home owner will receive from the bank a 1099C. This is because most home loans are loans without recourse meaning that if the home owner defaults on the loan, the bank an only take possession of the property. In short - no pun intended, someone has to pay the taxes on the money. The money that the bank has forgiven the home owner is considered "earned income" and therefore it is reported using form 1099-C, otherwise referred to as Cancellation of Debt. A short sale may provided the home owner with a smaller tax liability than a foreclosure.

The IRS has this to say about foreclosure: "The IRS urges struggling homeowners to consider their options carefully before giving up their homes through foreclosure."

Sean Schroeder, REALTOR
The Real Estate-XChange
cell: 757-839-3954
ofc: 757-277-9779

Equal Housing Opportunity ( EHO )
The Real Estate-Xchange 517 Baylor Ct. Chesapeake, Va. 23320

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

Short Sale Questions ( FAQ )

Sean Schroeder (The Real Estate-Xchange) — Tue, 28 Oct 2008 21:17:22 -0500

Virginia Beach and Chesapeake Short Sales Frequently Asked Questions

Throughout the day I am contacted by home owners who are, or soon be, behind in their payments, unable to sell their home because they are "upside down" or are facing family issues such as a divorce or loss of a job. These home buyers, like you are looking for options. One option is a Short Sale, this is a list of questions that I receive and some general answers to those questions.

What is a Short Sale?

A: Simply put a short sale is when you the home owner offers your home for sale below what you owe on it, asking the bank to take a loss.
I am not behind on my payments, but I can't sell my home because I owe more than the house is
worth. Will the bank approve me for a short sale?

A: We can list your home below what you owe on it making any purchase agreements "contingent"upon the banks approval. There is no such thing as "Short Sale approval"
When I purchased my home, the bank required PMI how will this affect a short sale?

A: First the bank required the insurance to protect their interest in the property not to protect you. Once a ratified contract is received it is sent to the bank for bank approval. The bank will not give permission until the Insurance Company approves the short sale.
How will short sale affect my credit score?

A: In general if you are behind in your payments these rolling lates will show up on and lower your credit score. It is easier to recover from a short sale than it is from a foreclosure.
I recently missed my mortgage payment, and know that I will miss my next payment as well. How long do I have before the bank forecloses on my home?

A: The foreclosure processes can begin at anytime that the bank feels it is necessary. However, generally it can take up to 6 months before the bank actually does foreclose. In some cases by listing the home, and actively working to find a buyer, the bank may be less likely to foreclose.
I am ready to get out from under my house, what should I be prepared to do to?

A: Your agent will ask you for your financial information when you have a ratified contact including pay stubs, bank statements, purchase agreement, listing agreement and most importantly a hardship letter.
I am living paycheck to paycheck and don't plan to walk away from this sale with anything. How can I afford to pay your brokerage fee?

A: First as a short sale, the bank will not approve the sale if you receive any funds or contribute any monies to the buyer. Further, any existing escrows or monies owed to you from the taxes will go directly to the bank. As for the brokerage fee, this is paid by the bank.
Do I have to claim the short sale on my taxes as income?

A: Once the bank approves the short sale, they issue a letter outlining the conditions of the short sale. Due to the fact that the bank is losing money, and the money was loaned to you the home buyer, you will receive a 1099C for the deficiency
Will I still be responsible for the property taxes?

A: The home sale must transfer free and clear of all liens, including taxes. Yes, you will still be responsible for the taxes, unless the bank has agreed to bring them current.
How long should it take for my home to sell?

A: The great news is that because you are selling your home short, we can price and market your home to a larger audience and to a group of home buyers that are looking for a great deal, or as I like to call them "wholesale" buyers. This will result in a quicker sale, after all price is King!

My name is Sean Schroeder, a REALTOR and member of the National Association Of REALTORS ( NAR). My job is to help you, my client, with your real estate needs. In this case, my job is to help you sell your home, to help you start over, everyone deserves a second chance.

If you find yourself in a situation where your mortgage payments have gotten out of control due to interest rate adjustments, loss of employeement, family changes or other situations please call me today to discuss your options and how I can assist you.

Sean Schroeder, REALTOR
The Real Estate XChange
757-839-3954

seanschroeder@757realproperty.com
www.HRSHORTSALES.com

The Real Estate XChange 517 Baylor Ct, Chesapeake Va. 23320

Sean Schroeder, REALTOR
The Real Estate-XChange

757-839-3954
sean@757realproperty.com

517 Baylor Ct.
Chesapeake, Va. 23320

List #:	0936798	Appliances:	Refrigerator, Washer, Dryer, Dishwasher, Elec Range, Microwave
Status:	Active	Interior Features:	Cathedral Ceiling, Walk-In Closet, Window Treatments, Skylights, Walk-In Attic
City:	Chesapeake VA	Exterior Features:	Wooded, Deck
Zip:	23320-2092	Exterior Siding:	Stucco, Vinyl
Subdivision:	RIVERWALK	Pool:	No Pool
Property Type:	Residential	Heating:	Natl Gas
Type of Home:	Attached	Cooling:	Central Air
Style:	Contemp, Townhouse	Equipment:	Cable TV Hookup, Ceiling Fan, Jetted Tub
Home Owner's Association:	33	Amenities:	Clubhouse, Playgrounds, Pool, Tennis Cts, Trash Pickup
Condo Fees:	203	Parking:	1 Car
Unit Description:	2 Living Lvl, End Unit	Fence:	No
Bedrooms:	3	Fence Description:	None
Full Bathrooms:	3	View:	Wooded
Half Bathrooms:	0	Waterfront:	No
Rooms Other:	Attic, 1st FBR, Mstr Bdr w/ Bath, Utility Closet, Utility Room, Loft	Waterfront Description:	Not Waterfront
Rooms:	6	Lot Dimensions:
High School:	Oscar Smith	Lot Depth:
School Other:		Lot Frontage:
Year Built:	1995	Lot Acreage:
Stories:	2.0	Zoning:
Square Footage:	1770	Water:	City/County
New Construction:	No	Sewer:	City/County
Flooring:	Carpet, Vinyl	Water Heater:	Gas
Foundation:	Slab	Disclosures:	Disclosure Statement, Prop Owners Assoc
Fireplaces:	1	Miscellaneous:	Vacant, Warranty Plan, Pet Restrictions