Real estate blog entries tagged with real estate by Gene Allen, Realty Consultant for Cary Real Estate (Fathom Realty)

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real estate: Buy and Bail - 09/09/08 12:49 PM

I seen this on TV the other day and was talking to a lawyer in Virginia Beach today when he said he had someone he thought was doing it. What do you do if you know if some is going to "Buy and Bail"?
The scenario is a seller bought at the height of the real estate market and can't sell if his life depended on it. So he goes and finds a great house in the same or general area that is priced much lower then his current house. Of course now interest rates are better and he doesn't have … (3 comments)

real estate: Why I Like A Small Sensor Camera Part II - 08/13/08 12:19 PM

I wrote recently on why I like a Small Sensor Camera This is part two. This is a picture you could use in real estate. This is a picture of a home I may list in Virginia Beach. It is at the widest angle of my lens which is 28mm. I saw a little bump on the roof and wanted to get a closer look but didn't have my ladder on my bike (just kidding) so I used the lens on the camera and bumped it to the fullest zoom. Not much to worry about. Looks like maybe a nail popping up. I actually took … (1 comments)

real estate: Norfolk To Feature Two Local Artists - 08/05/08 12:28 PM

The city of Norfolk is looking for design proposals for two Town Point Park outdoor sculpture projects. One project is an artwork that will act as a fence between Waterside Dr and the park near Nauticus. The city will give $20,000 to the chosen artist. The other design is for a water feature, such as a fountain, at the entrance to the park. The city will pay $60,000 for this design. Apparently water is worth more here, the same as in real estate. The city will build and pay for the winning designs. Visit www.norfolk.gov/purchasing/artwork_rfp.asp for details and an application.

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real estate: Just One House - 07/13/08 01:05 PM

I just had a prospect call me on my listing which wasn't for them so I sent them a few more listings in Portsmouth, Va. They drove down from Richmond to look at one townhouse in a little subdivision called Westmoreland and fell in love with it. They wanted to look at a few more so I showed them five more a few days later to help them make up their minds. They bought the first house they looked. They knew what they wanted and went for it.
http://www.geneallen.com/ Come and see ALL the Homes for Sale in Virginia Beach, Chesapeake, … (2 comments)

real estate: Here A Court, There A Court - 07/12/08 12:33 PM

It seems Portsmouth can't make up its mind where to put the new court building. The new builidng would cost about $45 million but with real estate values going down so did revenues. That got the city thinking about putting the courts into an existing building in Port Centre. That idea only cost $27 million and would save the city $18 million or so. I guess we will see which wins out in the near future.
http://www.geneallen.com/ Come and see ALL the Homes for Sale in Virginia Beach, Chesapeake, Norfolk, as well as the rest of Hampton Roads. This site is … (0 comments)

real estate: Skinny Houses in Suffolk? - 06/28/08 10:44 AM

Skinny houses in Suffolk? How about a 15 foot wide house that is 55 feet deep. That is what happens when you build homes in older areas and have to abide by code that says you need a ten foot buffer around the property. I guess you have to build homes somewhere and add to the real estate tax base but these homes are just ugly. Chesapeake has basically stopped the practice and Suffolk is looking into it.
http://www.geneallen.com/ Come and see ALL the Homes for Sale in Virginia Beach, Chesapeake, Norfolk, as well as the rest of Hampton Roads. This site is updated … (2 comments)

real estate: Portsmouth Blight Continues - 06/28/08 10:39 AM

Portsmouth keeps trying to do something about blight in its neighborhoods but is short on inspectors. Back in 2005 four inspectors were hired but now the city has four vacancies. This only hurt the real estate valuations in the city and reduces the tax base. Hopefully the city will lift the hiring freeze for this department and get on with cleaning the city up.
http://www.geneallen.com/ Come and see ALL the Homes for Sale in Virginia Beach, Chesapeake, Norfolk, as well as the rest of Hampton Roads. This site is updated daily with new real estate listings, pictures and other information vital … (0 comments)

real estate: Reduce Your Car Tax Bill - 06/21/08 01:42 PM

If you are a Virginia Beach resident and have a below average car, you can go to the drive-through appeals station at the City Hall and appeal your tax bill. If you have extremely high mileage, scratched soft tops or lots of chipped paint, you can trim your vehicles assessed value. Shrink the assessed value and your tax bill goes down. Wish we could do our houses like that.
http://www.geneallen.com/ Come and see ALL the Homes for Sale in Virginia Beach, Chesapeake, Norfolk, as well as the rest of Hampton Roads. This site is updated daily with new real estate listings, … (0 comments)

real estate: Virginia Beach To Build Apartments For Mentally Disabled - 06/14/08 12:37 PM

Virginia Beach is building an apartment complex on Nelms Ave for 18 mentally challanged disabled residents. The cost will be $1,085,000 and there will be ten buildings that will look like townhouses. In addition the city will rent the places for $180 a month and provide money for maintenance of the buildings. The Virginia Beach Community Development Corporation will get the money to build the complex. That still leaves over 170 people on a waiting list for housing.
http://www.geneallen.com/ Come and see ALL the Homes for Sale in Virginia Beach, Chesapeake, Norfolk, as well as the rest of Hampton Roads. This site … (0 comments)

real estate: I'm In A TIF - 06/07/08 05:36 AM

Well not yet but I could be by next year. The city of Virginia Beach wants to create a new TIF that would include Pembroke Mall and be used to pay for the $3.15 million foot bridge over Virginia Beach Blvd. The special tax areas can be a good thing if used properly as in Sand Bridge and the orignal Town Center but I think the city can get carried away with them. The idea is that the TIF money can improve an area and raise real estate properties because of the improvements. Just build the bridge or get smart and sloooooow … (0 comments)

real estate: Money Coming to Tornado Victims - 06/07/08 05:23 AM

The city of Suffolk was hit by a tornado on April 28, 2008. Many residents are facing big bills from deductibles and other charges. A little bit of good news came thier recently as the United Way of South Hampton Roads mailed $500 checks to 288 people in Suffolk who applied for assistance. There were pledges of $600k but so far only $175k has actually come in. The area did not qualify for federal assistance because to many people had insurance. Go figure. The price of real estate hasn't suffered so if residents want to sell the homes there the opportunity exists.
Here … (0 comments)

real estate: South Hill To Benefit - 05/31/08 09:46 AM

The biodiesel plant that was going into South Hill in Chespeake is gone. You would think the area would be the same or worse but it looks like the area may be better off. The city still wants to relocate residents and that could be a good deal for prices. The city needs put up a large block of property to make the the area viable as commercial property and buying up the homes there is one way to do it.
http://www.geneallen.com/ Come and see ALL the Homes for Sale in Virginia Beach, Chesapeake, Norfolk, as well as the rest of … (0 comments)

real estate: Another Cost Of Short Sale/Foreclosures - 05/31/08 06:21 AM

A forgotten cost of the the new real estate market consisting of vacant short sales and foreclosures is the cost to the city in terms of caring for the property. The city of Norfolk says the number of properties it cares for is up to 325 from 160 a year ago. There are three full time employees who do nothing but care for the private property. The city does assess a fee for the mowing but it can be difficult to get payment. Norfolk charges $40.00 a house and Portsmouth charges $250 a house. Portsmouth officials feel if they charge more … (6 comments)

real estate: Great ROI - 05/31/08 05:56 AM

Where can you spend a $1 and get a return of $1.18? Why in Virginia Beach of course. For every $1 the city spends on tourism it nets $1.18 back. That is pretty good if you ask me and one the reasons the city is trying hard to draw tourists all year round. Of course most tourists just come for the beach but the beach is pretty much maxed out. You can build bigger hotels but that is only a marginal increase. Town Center is a start, the new Convention Center helps and maybe a new attraction at the old Dome site … (2 comments)

real estate: Portsmouth Teachers Get A Raise - 05/24/08 12:08 PM

Portsmouth School superintendent David Stuckwisch proposed an average teacher raise of about 4 percent recently. That is lower then what was expected. With real estate rates going down lots of budget items in city are taking a hit. The city didn't give the school system any money and this was one of the solutions along with cutbacks.
http://www.geneallen.com/ Come and see ALL the Homes for Sale in Virginia Beach, Chesapeake, Norfolk, as well as the rest of Hampton Roads. This site is updated daily with new real estate listings, pictures and other information vital to your home search.
Google gene allen

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real estate: Quick and Dirty Exposure Fix - 05/21/08 12:26 PM

I was out shooting my latest but certainly not my greatest listing in Virginia Beach and the sun was to my back and right and the driveway was in the dark shade. My display gets washed out in the sun so I was using the viewfinder so the picture was really small. The shot kept coming out dark and then I remembered I could play with the aperture and get a better exposure but I couldn't really see that. So I zoomed into and took an exposure on the house, locked the exposure and zoomed back out to take the picture. … (4 comments)

real estate: Half Price Gas In the Country - 05/14/08 01:26 PM

After showing some homes in rural Suffolk and trying to sell some real estate, my tank was empty and I was out in the country. I stopped to get some gas and thought I had gone back in time. Gas was $1.80 a gallon. I thought I was on to something and was looking for milk jugs to fill up with. Imagine my surprise when I went in to pay. The guy took out a calculator and multiplied times two. What was going on I asked. He smiled and said that the old fashioned gas pumps with the mechanical insides can't go … (7 comments)

real estate: Solar-Ready Homes - 05/14/08 01:06 PM

Ok I have heard of pre-wiring for fans, garage door openers and the occasional generator but for SOLAR POWER???. Are you kidding me. I guess it is the newest thing in new construction. You have to think ahead on something like solar power and build the house with it in mind. Extra cables, chases, energy efficiency, the way the house sits and other considerations have to be put in place. If the house isn't built at the beginning for solar power then it probably will never be retrofitted because of the extreme cost involved. I don't think it has hit Virginia … (1 comments)

real estate: Dog Seizer - 04/19/08 12:30 PM

At least 102 dogs, cats and assorted livestock were recently saved from an illegal kennel. The owners say they have the proper licenses but the ploice siezed the animals until it can all be sorted out. The animals lacked a license or vaccinations and were in poor condition. The kennels were in poor condition also. Animal control has been to the house before with no problems but apparently things are different now. We will see how this plays out.
http://www.geneallen.com/ Come and see ALL the Homes for Sale in Virginia Beach, Chesapeake, Norfolk, as well as the rest of Hampton Roads. … (0 comments)

real estate: CM Developement Bilked Millions From Investors - 04/07/08 03:10 AM

Two investors claim that a failed real estate company's president repeatedly broke the law in his dealings with them. Cary McEntee repeatedly kited checks to make it look like the company had money coming in and to keep investors happy. Multiple code violations on many properties were also hidden from view. It seemed to be kind of a pyramid scheme where an investor would purchase a fix up home, sell it to another investor and so on. Eventually the the system collapsed under its own weight and the market slowdown. The investors are suing to try and relief from the bankruptcy … (0 comments)

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