Archive | June 2014

Great Realtor in Hampton Roads

I can’t believe I haven’t posted about this yet–if you need a Realtor, a really top-notch real estate agent, contact Liz Schuyler at 757-235-0274, liz.schuyler@rmxtalk.com, or visit her website at http://www.hamptonroadsrealestate.us.

Liz is very service oriented, has a fantastic work ethic, and is a great communicator.  She gets the job done. She has earned many awards and is always among the top producers in Hampton Roads. She works for Re/Max Allegiance out of the Virginia Beach office at 4000 Virginia Beach Blvd, Suite 164.

She does all of Ocean Front Solutions real estate transactions. She is an expert at negotiating, real estate contracts, loans, marketing, and interpersonal interaction, and she is very thorough and detail oriented–very important!

Allow one of the best to help you when you need a real estate agent–call Liz!

Enjoy the day!

Oh, and for fair disclosure, she is my lovely wife–I know how hard she works!

 

 

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Happy Summer! What a Great Time to do Real Estate!

Hello friends,

Happy summer to everyone now that it is officially here!  My lovely bride and I spent the weekend with friends on the beautiful St. Mary’s peninsula (not sure if that’s an official name, but it works) in Maryland on the Potomac–wonderful!  With our friends and the dogs we hiked a deserted beach; we went kayaking/canoeing; we went for a run; and we ate.  Of course we looked at a few properties–one home for sale on the Potomac and a few lots–not sure if they were for sale.

With all this daylight it is a great time to look at real estate!  Home prices and mortgage rates are still low so it’s a good time to buy your first home or your next home.  Allow me to help you with your real estate needs and just to let you know, Ocean Front Solutions (our sister company) has a new property coming on the market this week–three bedrooms, two and one-half baths, 1,728 square feet single story detached home in Norfolk, VA.  I’ll keep you posted!

As always enjoy the day!

South Hampton Roads Real Estate Market Report

Virginia Beach VA Market Summary

According to Realty Trac (www.realtytrac.com) home sales for April 2014 were up 10% compared with March, and down 22% compared with April 2013. The median sales price of a non-distressed home was $230,000 while the median sales price of a foreclosure home was $153,750, or 33% lower than a non-distressed home.

In May, the number of properties that received a foreclosure filing in Virginia Beach, VA was 7% higher than in April and 23% lower than May 2013.

There are 808 properties in Virginia Beach that are in some stage of foreclosure (default, auction or bank owned) while the total number of homes listed for sale on RealtyTrac is 2,350.

Norfolk VA Market Summary

Current total home sales data for Norfolk is not available, but for May 2014 the median sales price of a non-distressed home was $197,500 compared with $135,000 for a foreclosure home or 32% lower than a non-distressed home.

The number of properties that received a foreclosure filing in May in Norfolk, VA was 2% lower than in April and 0% higher than May 2013.

At present there are 432 properties in Norfolk, VA that are in some stage of foreclosure (default, auction or bank owned) while the total number of Norfolk homes listed for sale on RealtyTrac is 1,610.

Chesapeake VA Market Summary

The data for total home sales for April 2014 are incomplete. The median sales price of a non-distressed home in Chesapeake VA was $220,000 while the median sales price of a foreclosure home was $192,500, or 12% lower than a non-distressed home.

Right now there are 284 properties in Chesapeake, VA that are in some stage of foreclosure (default, auction or bank owned) and the total number of homes listed for sale on RealtyTrac is 1,188.

In May, the number of properties that received a foreclosure filing in Chesapeake was 10% lower than in April 2014 and 18% lower than May 2013.

What does all this data tell me? Foreclosures continue to slow down, but they are still an active component of the market and continue to sell for less than a regular resale market home, although the discount for a foreclosure home seems to be dropping.  Are we turning into a seller’s market?  Time will tell.

Thank you for reading and as always enjoy the day!

Clean the Bay Day (Chesapeake Bay) Follow-up

Hello Friends!  I have good news to report about the Chesapeake Bay Clean the Bay Day.  Our group cleaned the beach at False Cape State Park from the Back Bay National Wildlife Refuge line to the North Carolina border (see image below for location).  We had 24 volunteers split into four or five groups with each group taking different sections of the beach.  All told we gathered 245 pounds of trash (I believe it was 245-could have been 275).  The good news is that the beach was much cleaner than the past few times I did the clean up.  I asked the Rangers about this and they said that how much refuse is on the beach is largely a matter of wind and swell direction, and storms including nor’easters.  They acknowledged it was possible that there is less garbage coming ashore because less is being dumped in the ocean or bay.  They also said that ships, including military, are much better these days about keeping our waters clean.

Thank you to everyone who came out!  We were all blessed with a beautiful day and wonderful camaraderie!  And a big thank you to the folks at False Cape State Park who organized this and provided transportation.  You’re the best!

As usual, if you or someone you know wants to sell a property, or if you want to buy a property, in Norfolk, Virginia Beach, or Chesapeake, please let us know how we can help.  It would be our honor.  Call us at 757-752-8882 or email at jeff@oceanfrontsolutions.net.

As always, enjoy the day!

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The Chesapeake Bay and South Hampton Roads Real Estate

Our area is largely defined by water, lots of it–we have the Atlantic Ocean, many rivers including the James, Elizabeth, and Lynnhaven; lakes including Lake Drummond in the Great Dismal Swamp, Edward, Crystal; and many bays such as Broad Bay, Lynnhaven Bay, Back Bay and of course the Chesapeake Bay.

This Saturday, June 7, is Clean the Bay Day which is designed to lead efforts to clean the Chesapeake Bay and areas of land and water that affect the cleanliness of the Bay.  One of the many reasons that people choose to live in our area is the water, so it’s important to keep all of it clean and all of the bays, rivers, streams and other bodies of water healthy and happy!  Real estate, clean water, it’s all connected isn’t it?

Every year I join with others to clean up either the beach at False Cape State Park or the water where I live at the conjunction of Lynnhaven River and Wolfsnare Creek.  Each person carries trash bags and an observation sheet on which to record the number and type of refuse found.  The most interesting things I’ve found include 3/4 of a bowling ball, an aluminum arrow (in great shape, too!), and fish nets.

Help make our area (or wherever you live) clean and healthy and that can do a great deal for the happiness of an area, real estate included!

As always, enjoy the day!

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Open House Sunday June 8, 1-4 PM at 3430 Bangor Crescent!

We are having an open house at 3404 Bangor Crescent, Chesapeake VA, 23321–you can own this home for 500$ down!  Of course you have to meet the criteria:  have a 660 or better credit score; get the seller to provide 3% closing cost assistance, and be able to afford the loan payment.  This is a great opportunity to own this 3 bedroom, 1 bath 1,120 square foot home in the Dunedin area of Chesapeake!

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See you there!