Virginia Beach Real Estate

Freddie Mac released the results of its Primary Mortgage Market Survey®. Virginia Beach interest rates on a 30-year fixed-rate mortgage averaged 6.01 percent, down from last week when it averaged 6.05 percent. Last year at this time, the 30-year FRM averaged 6.15 percent.

"Recent remarks by Federal Reserve (Fed) officials, which partly bolstered optimism that financial markets will recover later this year, helped mortgage rates ease up a little this week," said Frank Nothaft, Freddie Mac vice president and chief economist. "Fed Chairman Bernanke indicated in a speech on May 13th that the Fed stands ready to continue to add liquidity to the markets. On the same day, San Francisco Fed bank president Janet Yellen added that she anticipates inflation will slow as commodity prices level off in the second half of the year.

"Despite the bleak housing market, there was positive news on the overall state of the economy. Retail sales (excluding automobiles) rose 0.5 percent in April, over twice that of market forecasts, and there was a significant upward revision in March's figures as well. Also, the consumer price index for April rose less than expected, allaying some market concerns of inflation taking hold."

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Norfolk Downtown living may mean less square footage and lack of a private garage, but it also means great restaurants, shopping and entertainment are all within walking distance.

More and more people, from young professionals to retirees, are becoming enamored with Downtown living. The number of Norfolk downtown residents has grown to 3,800...1,000 more than in 2000.

Downtown Norfolk council wants to show off what all the hype is about with a daylong Open House on Saturday, May 17 from 10AM to 6PM.

"It's an effort on our part to highlight the ease and attractiveness of the downtown urban lifestyle," said Stephen Fuschetti, DNC chairman. "We want to help people visualize what the downtown lifestyle really looks like."

The event, Downtown Lifestyle - A Taste of Downtown Living, features tours of 18 homes plus free classes and demonstrations. Tickets cost $8 in advance and $12 on Saturday.

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Aeries On the Bay is a neighborhood located in the northern part of the City of Virginia Beach, offering casual, beach-style living year round.  Aeries On the Bay lies just a few blocks off of busy Shore Drive, but is miles away in attitude. Turn off Shore Drive north towards the Chesapeake Bay, wander through quiet Pelican Dunes, tucked under glorious, old Live Oak trees and you come to the bay-front community of Aeries On the Bay.

Beach Style Living

Aeries On the Bay, Virginia Beach real estate was developed in the mid 1980s with contemporary style townhomes and single family residences. Cedar siding and wood trim adds to the beach feeling of this small intimate community.

In the beginning, Aeries On the Bay was made up of mostly young singles and newly married couples, but these days you also find growing families with children and retirees. This wide span of age groups makes for a cohesive, close knit community¦why, because they all have a love of the Beach!

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Contrary to popular belief, home inspections are not just for new home purchases!  It is extremely important to have your Virginia Beach real estate inspected professionally on a regular basis - especially if you are using it as a vacation property - to ensure you keep up with any necessary maintenance or repairs. 

Home inspectors offer many types of inspections to suit Virginia Beach real estate owners’ needs - some of these include:

• Pre-Listing Inspections
• Pre-Purchase Inspections
• New Construction Inspections
• HUD/FHA Inspections
• Multiunit Inspections
• Annual Maintenance Checkup

A Virginia Beach home buyer can save thousands of dollars by having a professional home inspection performed before purchasing a home.  Also, in case of extreme weather circumstances, inspectors can help locate potential problems or damage that may be hidden to the naked eye.

To learn more about Virginia Beach real estate or for a referral to an experienced home inspector, please call us at 866-222-0158 #550 or 757-490-7300 #550 or visit ButlerTeamHomes.com.  You may also begin searching for Virginia Beach real estate here!

We know that the Baby Boomers account for a large part of the Virginia Beach home owning population.  But did you know that they may be the latest trend-setters in Virginia Beach real estate also? 

Sounds unlikely, but it is very true!  As this article in the Wall Street Journal explains, designers and architects are catering more and more toward this fast-growing segment of the population. New innovations include: 

•    ¢ Stoves that monitor pots to prevent boiling over
•    ¢ Adjustable appliance control panels
•    ¢ Use of levers instead of knobs
•    ¢ Dishwasher drawers  

Redesigning products for aging consumers seems to make good business sense. There are 78 million U.S. baby boomers, and roughly one-third will be 62 years old or older by 2013, says AARP. 

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