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 Sep 03, 2008 @ 9:41 am Leave a comment »
/strong> Real Estate Sales Statistics & Market Report - July 2008 Suffolk sales declined in July by 23 percent compared to July 2007. Market times increased 24 percent, 99 days vs 80 days. The average sales price decreased in Suffolk to $285,725 or 8 percent. The median price also decreased by 14 percent to $251,000.
What do these statistics mean for Suffolk real estate buyers and sellers? The Suffolk real estate market has not started to stabilize, but remains a great time to buy a home. Especially with the new first time home buyer incentives provided for in the Housing and Economic Recovery Act. Suffolk Real Estate Market Report Existing-home sales rose from the first quarter in 13 states, largely from buyers responding to discounted home prices, according to the latest quarterly survey by the National Association of Realtors®. Nearly one-quarter of metropolitan areas showed rising home prices in the second quarter from a year ago, with greatly mixed conditions continuing around the country. NAR President Richard Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif., said foreclosures are distorting the price data. "In many areas with large concentrations of foreclosure sales, homes are being purchased below replacement cost values," Gaylord said. "Many buyers with long-term expectations are getting exceptional value in the current market. Once the inventory is drawn down, price pressure will return because the costs of construction are rising - today's buyers are very well positioned to build wealth over time." National Association of Realtors®. Also read: Virginia
Beach Real Estate: South Hampton Roads Market Report July 2008 To learn more about Suffolk and Virginia Beach real estate, please contact us at 866-222-0158 #550 or visit ButlerTeamHomes.com. Search all Suffolk and Virginia Beach homes for sale. Find out what your home is worth.
Statistics compiled from Real Estate Information Network. They are deemed reliable, but not guaranteed.
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by: Dave.Macklin on Aug 01, 2008 @ 5:53 pm Leave a comment »
Suffolk, Smithfield & Isle of Wight June 2008 Sales Statistics
Residential sales in Suffolk, Smithfiled & Isle of Wight dropped by 35 percent in June compared to June 2007, causing the average market time to increase 23 percent, from 91 days to 112 days. The median sales price decreased 3 percent, while the average sale price decreased 7 percent to $310,513.
What do these statistics mean for Suffolk, Smithfield, Isle of Wight and Virginia Beach real estate? It remains an excellent market for first time home buyers to get their feet wet. Market times have increased and prices have decreased, making sellers more negotiable. Modest near-term movement is expected in Virginia Beach real estate sales, with a recovery in sales seen during the second half of the year, according to the latest forecast by the National Association of Realtors®.
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by: Dave.Macklin on Jun 29, 2008 @ 11:55 am 1 comment »
Suffolk, Smithfield & Isle of Wight Real Estate Market Report A modest gain in the level of home sales is possible over the next couple months, and an improvement is forecast for the second half of this year as more buyers are able to access affordable mortgages, according to the latest forecast by the National Association of Realtors®. The Pending Home Sales Index,* a
forward-looking indicator based on contracts signed in April, rose 6.3 percent
to 88.2 from a reading of 83.0 in March. It's the highest index since last
October, but remains 13.1 percent lower than April 2007 when it stood at 101.5. Let's take a look at the Suffolk, Smithfield & Isle of Wight real estate market activity to see how the spring market is shaping up. Suffolk, Smithfield & Isle of Wight May 2008 Sales Statistics
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by: Dave.Macklin on Jun 18, 2008 @ 10:23 am 1 comment »
South Hampton Roads Real Estate Area Market ReportA modest gain in the level of home sales is possible over the next couple months, and an improvement is forecast for the second half of this year as more buyers are able to access affordable mortgages, according to the latest forecast by the National Association of Realtors®. The Pending Home Sales Index,* a
forward-looking indicator based on contracts signed in April, rose 6.3 percent
to 88.2 from a reading of 83.0 in March. It's the highest index since last
October, but remains 13.1 percent lower than April 2007 when it stood at 101.5. Let's take a look at the South Hampton Roads real estate market activity, including Virginia Beach, Chesapeake, Norfolk, Suffolk and Portsmouth, Smithfield and Isle of Wight for this May. South Hampton Roads May 2008 Sales Statistics
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by: Dave.Macklin on May 30, 2008 @ 11:20 am Leave a comment »
A flat pattern in Suffolk VA real estate sales activity could continue for the next couple months before improving over the summer, according to the latest forecast by the National Association of Realtors®. Lawrence Yun, NAR chief economist, said the extent of an expected recovery hinges on better access to affordable loans. "Things are beginning to improve, but the availability of affordable mortgages is uneven around the country and sometimes within metropolitan areas," he said. "As anticipated, we continue to look for a soft first half of the year, for both housing and the economy, before notable improvements in the second half. Some time is needed for FHA and new conforming jumbo loans to become widely available." Let's take a look at the Suffolk VA real estate market activity for this April to see how the spring is looking so far:
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