Suffolk, Virginia
With 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.
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
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by: Dave.Macklin on Mar 18, 2008 @ 10:55 am 3 comments »
Hampton Roads & Virginia Beach real estate market to remain steady. The volume of existing-home sales is expected to hold steady through late spring, with a gradual recovery during the second half of the year as the mortgage situation improves in high-cost areas, according to the latest forecast by the National Association of Realtors®. Lawrence Yun, NAR chief economist, said many buyers have been waiting for higher mortgage loan limits. "The higher loan limits for both FHA and conventional loans will increase consumer choice and provide greater access to lower interest rate mortgages in high-cost regions," he said. "Therefore, a notable rise in home sales can be anticipated in the second half of the year." Let's take a look at the sales statistics for our Hampton Roads cities in February 2008 to determine if the market is holding steady locally: 
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by: Dave.Macklin on Feb 28, 2008 @ 12:19 am Leave a comment »
Suffolk experienced a decrease in sales of 32 percent this January compared to January 2007. Market times increased 57 percent, 107 days vs 68 days. The average sales price decreased in Suffolk to $295,724 or 9 percent while the median price increased 4 percent.
Now is a GREAT time to be buying a home in Suffolk VA. To learn more about Suffolk real estate, please contact us at 866-222-0158 #550 or visit ButlerTeamHomes.com. To begin searching for Suffolk 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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