Virginia Beach Home Prices - Virginia Beach Neighborhoods

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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Is my Virginia Beach real estate assessment the same thing as market value? The short answer is “no.” But it should be in the ball park. The City of Virginia Beach Real Estate Assessors Office does its best to assign a value to every property for tax purposes. The current tax rate is $0.89 for [...]

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Most people assume that the listed price is negotiable when a home is for sale. But how negotiable? Will a buyer accept an offer $20,000 below asking price? How about $30,000? Here’s the answer!

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There is a trick to selling your home quickly in today’s market. Present your home in its best light and price it very close to where it is most likely to sell. Your home will stand out because it shows nicely and is priced fairly. This brings lots potential buyers and multiple offers very close [...]

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John and Jane bought their home in 2006 for $400,000 with a 20% down payment ($80,000). Today, the market value of their home is about $300,000 and there is a 10 months supply of homes on the market in their neighborhood. They have $5,000 is savings and John expects to lose his job in the [...]

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The problem with recoveries is that we don’t usually recognize them until they have already happened. Is the housing market recovering right now? The stock market is certainly having a great rally and pending home sales seem to be on the rise in Virginia Beach this month. But one month of improving data hardly defines [...]

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Do you think that foreclosures are to blame for the falling home prices? I don’t. I think falling home prices are partly to blame for the foreclosures. But we can debate that for the next ten years. The most important thing to consider is how do foreclosures affect your neighborhood. First lets get a couple [...]

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I get this question more than any other. “How long do homes stay on the market” or “How long will it take for my home to sell?” There is no textbook answer because every house is different. The market time for homes in Virginia Beach varies widely. Here’s an example of a home that I [...]

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While there are many people who want to buy a home, it’s hard to borrow money right now! Let’s take the example of a $400,000 home in Virginia Beach. A couple of years ago, you could buy one with no money down. To avoid paying PMI (private mortgage insurance) which is required when you borrow [...]

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When will it get better? Everyone wants an answer. Jim Cramer, the talk show host of Fast Money on CNBC, says June 30th will be the housing bottom. He worked at Goldman Sachs for years and appears to know what he is talking about. I am doubtful of this claim because everything that I see [...]

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