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suffolk va

Suffolk, Virginia

suffolk vaWith 430 square miles, Suffolk is the largest in land-area of the Hampton Roads cities and the largest independent city in the state of Virginia. Suffolk, a community rich in history and recreation, is dedicated to quality education, has a clean, safe environment and a strong economy, making it one of Hampton Roads' fastest growing, most attractive places to live and work. Between the 2000 and 2006 census, Suffolk's population grew almost 20% to 81,071.

 

Peanuts grown in the surrounding areas became a major industry for Suffolk. Notably, Planters Peanuts was established in Suffolk beginning in 1912, making Suffolk the "birthplace" of Mr. Peanut, the company's mascot.  In modern times, Suffolk remains a major peanut processing center (Planter's - now owned by Kraft Foods - is still one of the areas largest employers) and is also a railroad/highway/transportation hub. It hosts a diverse combination of industrial, manufacturing, distribution, retail, and hospitality businesses, as well as active farming.  Other large employers in the City of Suffolk include Unilever Lipton Tea, Wal-Mart, QVC, and two major modeling and simulation companies, Lockheed Martin and Raytheon. Lockheed Martin's Center for Innovation is based in Suffolk.

suffolk va

 

The communities in contemporary Suffolk vary widely, from the urbanized areas and downtown section of the former town of Suffolk, to suburban neighborhoods, and areas which were rural farms, woodlands, or grew as small unincorporated towns. The Suffolk Public Schools system operates 13 elementary schools, four middle schools, three high schools, and one alternative school. Most parts of Suffolk are 20-30 minutes from the Norfolk International Airport.  Interstate 664, part of the Hampton Roads Beltway, crosses through the northeastern edge of the city.

 

Every year in the fall, locals and visitors alike flock to the Peanut Festival, hosted by the City of Suffolk.  Families enjoy national touring musical acts, games and activities, and - of course - plenty of peanuts.  Suffolk is also home to many unique cultural and recreational attractions, including museums, wildlife refuge, and educational farms.

Suffolk VA Homes For Sale 
What's My Suffolk Home Worth
by: Dave.Macklin on Apr 23, 2008 @ 9:35 am     Leave a comment »

Suffolk Real Estate Market Report - March 2008

Little change is expected in Norfolk real estate sales of existing homes over the next few months, before notably improving during the second half of the year, according to the latest forecast by the National Association of Realtors

Lawrence Yun, NAR Chief Economist, said the market will come into clearer focus this summer. ”Existing home sales could start to show a sustained increase within a few months, unless there are some additional economic problems or excessive inflationary pressure,” he said. ”The wider access to affordable credit should increase sales activity notably this summer as pent-up demand begins to be met.”

Let’s take a look at the Suffolk real estate market activity for this March to see how the spring is looking so far:

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by: Dave.Macklin on Apr 22, 2008 @ 10:12 am     Leave a comment »

Suffolk Real Estate Market Report - March 2008

Little change is expected in Norfolk real estate sales of existing homes over the next few months, before notably improving during the second half of the year, according to the latest forecast by the National Association of Realtors

Lawrence Yun, NAR Chief Economist, said the market will come into clearer focus this summer. ”Existing home sales could start to show a sustained increase within a few months, unless there are some additional economic problems or excessive inflationary pressure,” he said. ”The wider access to affordable credit should increase sales activity notably this summer as pent-up demand begins to be met.”

Let’s take a look at the Suffolk real estate market activity for this March to see how the spring is looking so far:

Read more »

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by: Dave.Macklin on Apr 04, 2008 @ 10:55 am     Leave a comment »

The centerpiece of Congress' recent $170 billion economic stimulus plan is tax rebates, but few Virginia Beach & Hampton Roads real estate owners and taxpayers actually understand what the rebates mean or how they'll benefit.

The details of the plan are still being worked out, but below are some of the facts:

  • To be eligible for a full rebate, single tax filers must have 2007 adjusted gross income (AGI) below $75,000.  These filers will get rebates up to $600.
  • Joint filers must have Adjusted Gross Income below $150,000 and are eligible to receive rebates of up to $1,200.
  • Parents will receive $300 rebates per dependent child and there is no cap on the maximum number of children eligible.
  • Filers who do not owe income taxes because of various credits and deductions but who do have at least $3,000 in income (can include Social Security or disability payments) will get $300 rebates per person or $600 per couple.
  • The rebate is a one-time tax cut - an advance on a credit you'll receive on your 2008 return.

If you make the IRS deadline and file your taxes by April 15, you can expect to receive a check sometime between May and July.

Why not put your 2007 tax rebate toward the purchase of Virginia Beach or Hampton Raods real estate?  To learn more about Hampton roads real estate, please visit ButlerTeamHomes.com or begin searching for Hampton Roads real estate.  For more personalized service, please call me at 866-222-0158 #550.

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by: Dave.Macklin on Mar 25, 2008 @ 10:00 am     Leave a comment »

school bus

Schools are important when buying Virginia Beach real estate - even if you don't have kids!

Most families with children are concerned about schools, whether public or private, making the school district a Virginia Beach home is in one of their top priorities. But even families without children need to be concerned with the area schools. Virginia Beachproperty values are influenced be the school system that services your neighborhood.

You can take the same house and put it in two different locations with two different schools and the house feeding into the better school system will appreciate faster. The resale value of your home will definitely be influenced by the schools in the area.

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by: Dave.Macklin on Mar 23, 2008 @ 3:42 pm     Leave a comment »

Suffolk VA experienced a decrease in real estate sales of 25 percent this February compared to February 2007. Market times increased 16 percent, 74 days vs 86 days. The average sales price decreased in Suffolk to $292,475 or 10 percent. The median price also decreased by 10 percent to $255,000.  

Suffolk

Sold
Listings

Median
Price

Average
Sale Price

Average Days
On Market

 Feb 2008

84

$255,000

$292,475

86

Feb 2007

118

$282,325

$326,240

74

Now is a GREAT time to be buying a home in Suffolk VA. To learn more about Suffolk VA real estate, please contact us at 866-222-0158 #550 or visit ButlerTeamHomes.com. To begin searching for southern Virginia homes, please use our complimentary MLS search

Interested in knowing what your home is worth? Visit HRHouseValue.com.

Statistics compiled from Real Estate Information Network. They are deemed reliable, but not guaranteed.
 

Related posts:
Hampton Roads & Virginia Beach Real Estate Market Trends

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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.