Buy a Home Now Or Later: Real Estate Q & A - Virginia Beach Neighborhoods

Question: Hi, Will. We last lived off Shore Drive on the beach and loved the area, but would prefer to be in an established neighborhood because we have two children now, 3 and 1, and probably more to come. Do you know how rental properties are doing? One concern we have is missing out on [...]

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“Home values have never fallen in Virginia Beach!” – 2006 Today this seems comical except for one small detail. At the time, it was a true statement. “Real estate is not a good investment.” – 2010 It is easy to take the side of real estate naysayers since the bubble popped. But just like the [...]

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Before even considering finding the right home or the right neighborhood, most home buyers must be convinced that the benefits of home ownership outweigh the risks. Until three years ago, this was a no brainer. Home prices in Virginia Beach had made new highs every year for 50 years. There seemed to be very little [...]

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If you were to buy a home today in Virginia Beach, how long would it take for you to break even? a. 3 years b. 5 years c. 7 years d. All of the above The answer is “All of the above,” of course, because it depends on the details. The important thing to understand [...]

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When the time comes to move into a bigger home or change neighborhoods, the decision to sell or rent always comes up. There is no right or wrong answer but there are three important things to consider. Can you accept selling your home at market value? For those who purchased their home before 2005, you [...]

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John and Jane eventually put an offer on the waterfront home they chose in Virginia Beach. Here’s how it started. The home was listed for $350,000 but the bank was never going to accept such a low price. After talking up the listing agent, I found that they had a previous offer that the bank [...]

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I just spent a couple hours sorting through the latest Virginia Beach home sales data. Things are starting to look up! 1. Home prices in Virginia Beach are steady. 2. Asking prices are still falling. 3. Short sales and foreclosures are only a small portion of the market. While the median home sale price is [...]

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Back in 2006, a local Navy family bought a home in Princess Anne Quarter in Virginia Beach, off Princess Anne Road, for about $630,000. Interest rates at the time were about 6.5%. Their monthly payment was about $4500 which included taxes and insurance. The home was sold to another buyer for $540,000 in 2008. Today [...]

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Because buying a home isn’t a one step process, one must remain vigilant to ensure a smooth process. Unfortunately, sometimes things just don’t work out. Dick and Jane Smith (names changed to protect the innocent) were having trouble finding the perfect home. Getting a husband and wife to agree on the something like this is [...]

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Thank you to everyone who helped put this year’s tournament together. Next year I recommend that we make the string longer. I did my best to get pictures of everyone, but at some point I inadvertently switched from the Hornet to the Tomcat course and got lost. Sorry to those I missed. Enjoy. The Start [...]

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