Portsmouth, Virginia
Portsmouth is located in the heart of the Hampton Roads area on the western side of the Elizabeth River directly across from the City of Norfolk. With a population of 101,377 (as of the 2006 census), Portsmouth is one of the older cities in Hampton Roads and has a limited capacity for growth, since it is surrounded by water and other Hampton Roads cities.
Despite its name, The Norfolk Naval Shipyard, often called the Norfolk Navy Yard, is a historic and active U.S. Navy facility which is actually located in Portsmouth; Navy ships of all types are built, remodeled, and repaired here. There is a large military medical community thanks to the Portsmouth Naval Medical Hospital.
Portsmouth is about 15-20 minutes from the Norfolk International Airport, and is serviced by the Hampton Roads Beltway and several bridges and tunnels from neighboring cities. In recent years, Portsmouth has seen a revival of its charming downtown business and historic district, referred to as Old Towne. Old Towne features one of the largest collections of historically significant homes between Alexandria, Virginia and Charleston, South Carolina. Along with the many unique restaurants and entertainment venues in the Old Towne district, Portsmouth is home to several other attractions for families and visitors. The Children's Museum of Virginia, Virginia Sports Hall of Fame, Naval Shipyard & Lightship Museum, and Harbor Center (home of the Ntelos Pavilion, a concert venue which hosts mainly national touring acts) are all located in Portsmouth.
The Portsmouth Public School System is made up of 14 elementary schools, 3 middle schools, 3 high schools, and several secondary and specialty schools.
Portsmouth is considered to be one of the most affordable areas in the Hampton Roads region, although there are also many miles of waterfront property which are more exclusive. A family-friendly city, Portsmouth has many parks and recreation centers for the public to enjoy.
Portsmouth VA Homes For Sale
What's My Portsmouth Home Worth
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by: Dave.Macklin on Feb 27, 2008 @ 12:14 am Leave a comment »
Portsmouth home sales also decreased by 30 percent in January, with market times increasing 67 percent compared to Jan 2007. The median price increased to $180,950 or 5 percent and the average sales prices remained relatively unchanged.
Now is a GREAT time to be buying a home in Portsmouth. To learn more about Portsmouth real estate, please contact us at 866-222-0158 #550 or visit ButlerTeamHomes.com. To begin searching for Portsmouth VA homes for sale, please use our complimentary MLS search. Also read Virginia Beach real estate market report. 
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by: Dave.Macklin on Feb 19, 2008 @ 3:50 pm Leave a comment »
Virginia Beach & Hampton Roads mortgage insurance requirements will tighten March 3. MGIC Investment Corp, the nation's leading mortgage insurance provider, plans to limit its exposure in a number of the weaker housing markets around the country by requiring higher credit scores and larger down payments. Virginia Beach and Hampton Roads are among the areas affected by the tighter standards. Starting March 3, MGIC will require at least 5 percent down on homes and a 10 percent down payment on condos. Mortgage insurance is required by lenders when buyers put less than 20% down on a home. If the borrower misses mortgage payemnts, the mortgage insurance company pays the lender. If homes end up in foreclosure, both lenders and insurers lose money. Read the full story. Wondering how this tightening of lending requirements will affect your ability to buy a home? Give us a call to discuss your situation, 866-222-0158 #550, or visit our website, ButlerTeamHomes.com.
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by: Dave.Macklin on Jan 29, 2008 @ 5:22 pm Leave a comment »
Happy New Year! In this month's edition of the Virginia Beach Real Estate Market Trends Report, we will re-cap the market activity from 2007 and take a look at the real estate forecast for 2008. Existing-home sales rose slightly in November, indicating a stabilization in housing in the wake of mortgage disruptions earlier in the year, according to the National Association of Realtors®.
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To begin your search for the perfect home or to sell your home in the Virginia Beach area,
call Dave Macklin and The Butler Team at 866-222-0158 #550.
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