Virginia Beach, Virginia
When most people think of the Hampton Roads area, they first imagine the sparkling shorelines and rolling dunes of Virginia Beach. While Virginia Beach may be most known for the oceanfront resort area, with over 430,000 residents, it is also the most populous city in Virginia and is home to several state parks, a number of large corporations, a leading university, and many historic sites. Virginia Beach is also a military town, home to NAS Oceana (one of the Navy's four major jet bases), Fort Story, Camp Pendleton, Dam Neck Fleet Combat Training Center, and Little Creek Amphibious Base.
Near the point where the Chesapeake Bay and the Atlantic Ocean meet, Cape Henry was the site of the first landing of the English colonists bound for Jamestown on April 26, 1607. Virginia Beach is listed in the Guinness Book of Records as having the longest pleasure beach in the world and is located at the southern end of the Chesapeake Bay Bridge-Tunnel, the longest bridge-tunnel complex in the world.
Most locals will tell you that the temperate and seasonal climate of Virginia Beach makes up for the threat of storms. While hurricanes are a legitimate concern, it should be noted that the city is geographically south of the average path of storms originating in the higher latitudes, and north of the usual tracks of hurricanes and other major tropical storms. With chilly (but rarely snowy!) winters, mild autumns, pleasant springs, and famously beautiful and warm summers, each season is enjoyable and ideal for vacationers and locals alike.
Outdoor lovers and "indoor folk" alike have plenty to keep busy with in Virginia Beach. For nature lovers, a day in Virginia Beach could include surfing, fishing, boating, bird-watching in several protected habitats, or hiking in state parks. Golf lovers can enjoy over 20 magnificent golf courses, including courses designed by Jack Nicklaus, Curtis Strange, and Arnold Palmer. On an indoor day, families can enjoy the Virginia Aquarium & Marine Science Center, a tour of historic sites such as the Adam Thoroughgood House, or exploring the interesting Edgar Cayce Center for Research and Enlightenment.
The beautiful ocean can be enjoyed from the shore, or aboard one of many area pleasure cruises. There are dolphin and whale watching cruises, an inlet dinner cruise, and of course deep-sea fishing charters. Once a year along the famous Boardwalk, Virginia Beach celebrates its oceanfront area with the Neptune Festival, which features activities for the whole family, a sand-sculpting contest, sand soccer and volleyball tournaments, concerts, and a parade to top off the event. The Boardwalk also plays host to the annual Boardwalk Art Show, Rock N Roll Half Marathon, and on-going musical festivals and events.
The Virginia Beach Public School System includes 55 elementary schools, 15 middle schools, and 11 high schools. There are also several secondary and private schools in the city.
Most areas in Virginia Beach are within 10-20 minutes of the Norfolk International Airport that services the entire Hampton Roads area. The smaller Newport News/Williamsburg airport is less than an hour away.
Real estate prices and availability vary widely throughout the city, as every area within its limits has unique characteristics and style that influence the home values. Many home-buyers looking for a home by the sea find that Virginia Beach offers the best housing value dollar-for-dollar, as there is such a wide selection of neighborhoods and styles to choose from.
Virginia Beach Homes For Sale
What's My Virginia Beach Home Worth
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by: Dave.Macklin on Aug 20, 2008 @ 10:40 am Leave a comment »
Virginia Beach 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®. Let's take a look at the Virginia Beach real estate market activity for this July to see what is happening locally. Virginia Beach July 2008 Sales Statistics 
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by: Dave.Macklin on Aug 04, 2008 @ 5:56 pm Leave a comment »
With Virginia Beach real estate sales slowing a bit for the summer, many sellers are left wondering if they may be better off renting their home out for the time being until market activity picks back up. If you have already purchased another home, this option is especially attractive as it allows you to cut down on the expense of paying two mortgages while you wait for your home to sell. Below are some items to think about, courtesy of BankRate.com, before deciding to become a landlord:
In addition to extra tax advantages (on top of the regular deductions of mortgage interest and taxes), renting out your property might also allow you to continue to build equity in your old home at the expense of the renter. You might even be able to make a profit from the rent, if your expenses are low enough! If you are interested in buying or selling Virginia Beach real estate, please call us at 866-222-0158 #550. Request a complimentary market analysis of your Virginia Beach home!
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by: Dave.Macklin on Jul 31, 2008 @ 5:48 pm Leave a comment »
President Bush signed into law today The Housing and Economic Recovery Act. This is the most sweeping change to housing reform since the New Deal of 1934. You need to write your Congressmen to see if we can get legislation to revoke some of the changes. FHA effective October 1, 2008 will increase the minimum required down payment from 3% to 3.5% for Virginia Beach home buyers. The legislation also calls for the elimination of seller down-payment assistance programs such as AmeriDream and Nehemiah by October 1, 2008.
High-level Details of the Housing and Economic Recovery Act: Here are some key provisions of the Housing and Economic Recovery Act that most affect Virginia Beach home buyers: 1) Higher permanent loan limits for conventional conforming and FHA will become effective Jan. 1, 2009; the Act calls for limits to increase to a maximum amount of $625,500, depending on the metropolitan area. Note: The temporary limits established in March will expire on Dec. 31, 2008. 2) FHA floor limits will remain the same at $271,050. 3) The VA guaranty will increase.
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As of July 14, 2008 they already made upfront MIP premiums risk based on credit scores but also increased the annual premium across the board.. Instead of the original plan of making FHA loans more affordable for potential Virginia Beach home buyers; the new legislation makes it more expensive.
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by: Dave.Macklin on Jul 25, 2008 @ 5:29 pm Leave a comment »
Virginia Beach June 2008 Sales Statistics Residential sales in Virginia Beach dropped by 23 percent in June compared to June 2007, causing the average market time to increase 18 percent, from 55 days to 65 days. The median sales price decreased 7 percent, while the average sale price decreased 7 percent to $318,784.
What do these statistics mean for 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. Search for all Virginia Beach real estate listings or get the current market value of your home.
Lawrence Yun, NAR chief economist, said some pullback after a sharp increase in the previous month was expected. "The overall decline in contract signings suggests we are not out of the woods by any means. The housing stimulus bill that is still being considered in the Senate is critical to assure a healthy recovery in the housing market, jobs and the economy," he said. Furthermore, Yun said location has never mattered more than in the current market. "Some markets have seen a doubling in home sales from a year ago, while others are seeing contract signings cut in half. Price conditions vary tremendously, even within a locality, depending upon a neighborhoods exposure to subprime loans." Also read: Virginia Beach Real Estate: South Hampton Roads Market Trends
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by: Dave.Macklin on Jul 08, 2008 @ 10:59 am Leave a comment »
Before lending you a large sum of money to purchase a piece of Virginia Beach real estate, it is understandable that your lender will want to know a little bit about you and your ability to pay back the loan. If you are a first-time homebuyer, or if it has been a while since you last spoke with your lender, it is helpful to be prepared for some of the questions you may be asked and to have some responses in mind. Below are some general examples of questions you may expect to hear when applying for a home loan:
Outstanding debts • What recurring debts do you
have? • Credit
cards?
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Employment and income 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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