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Virginia Beach, VA Real Estate News

By Sean Schroeder, Century 21 top producers
(Century 21)
The city of Virginia Beach gave the old convention a face lift, a bigger better convention center that to me looks like something out of Buck Rogers.  For years the city has wanted to build a hotel to support the convention center, the Double Tree is the closest but has fewer than 300 rooms.  Real estate consultants have told the city that the longer they wait, the more they will lose.  This resulted in a several unsolicited bids to build a new hotel closer to the convention center with 300 or more rooms.  Now the city has 4 public-private ventures to consider. 
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By Sean Schroeder, Century 21 top producers
(Century 21)
 Everyone has heard of Operation smile, the not for profit organization that travels the globe to  transform a child's cleft pallet into a smile, they do an estimated 10,000 of these operations every year.Operation Smile has decided to stay in Hampton roads, moving their facility to a larger building in Virginia Beach, will provide the group and additional  15,000 square feet of space next to TCC and ODU/NSU buildings.   
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By Sean Schroeder, Century 21 top producers
(Century 21)
I have been reading an article entitled "Census and Survey numbers don't tell full story".  Up until 2000 the US Census used a novel reporting technique that required that each house hold be count.  I call this real numbers.  In 2006, the US Census used a general sampling, or survey.This new approach resulted in an estimated 30%t rise in vacant units across the region when the samples numbers  of 2006 were compared to the real number of 2000.For Virginia Beach the numbers are:Owner Occupied     2006        2000        variance    %ChangeVirginia Beach         112,476   101,308     11,168      11.0%Norfolk                   41,326    39,238       2,088        5.3%Chesapeake           59,403    52,335        7,068        13.5% Renter Occupied Virginia Beach         49,157     53,147      ...
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By Gene Allen, Realty Consultant for Cary Real Estate
(Fathom Realty)
A couple of goods of rains is what we needed.  It won't cure the draught in Hampton Roads but it will help fill up some resiviors in the area.  The threat of wildfires will go down as well with this last bit of rain.  Monthly rain averages have been down since last November and the area is still more then 10 inches behind.  Even with the rain outdoor burning is still banned. 
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By Sean Schroeder, Century 21 top producers
(Century 21)
I grew up in Virginia beach since age 7, after moving here from Ohio.  As a young boy and teenager I have vivid memories of blue crabs.  During the summer all of the neighborhood kids would purchase chicken legs and head to the apartment complexes boat dock. We would than tie one piece of chick to a string of chicken and toss it in. Before you knew it, there were 20 or so lines in the water.  Eventually, the lines would tighten and we would net our crabs.  This would go on for hours.  Eventually we had several coolers and boxes full of yummy blue crabs.  That night we would cook'em up and eat!  That was in the early 80's.Fast forward to 2007.  I haven't crabbed for years and today I read a story in our local newspaper.  In 1997, the peak of the crab harvest reach 39,777,238  and it has ...
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By Gene Allen, Realty Consultant for Cary Real Estate
(Fathom Realty)
First its' no cursing, blocking intersections, no feeding the birds, no watering and now its no smoking.  Norfolk city council is the first in the state to ask for a ban on smoking in restaurants.  The city of Virginia Beach is expected to follow.  Guess we are in some kind of a health crisis.  Second hand smoke is a pain and we don't go to places that are small and allow smoking ourselves which means most bars are out of bounds.  Whats next?
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By Sean Schroeder, Century 21 top producers
(Century 21)
Here is a little bit about me:Here is a little bit about me: I have been working in the Real Estate business for almost 4 years now, before that I was a internet programmer and web developer.  My friend Greg Olive owned his own brokerage firm in Virginia Beach and he convinced be to get my license and work with him.  He closed his brokerage firm and moved on to better things, you could say a greater calling. Just under 1 month ago I transfered my License to The Real Estate-XChange, in hopes of providing my clients with better service.  As an agent I believe in maintaining open lines of communication.  By clients can always call on me, and I will always answer if able or I will return their call at the first opportunity.  I am a father of a 6 year old son who is also my little helper.  I...
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By Sean Schroeder, Century 21 top producers
(Century 21)
Are you ready to purchase a home in Virginia Beach?  Maybe you are tired of renting and making your landlord rich, or possibly you are up-sizing or down-sizing.  Whatever the cirumstance I am here to assist you.  I have assembled  a team of professionals including a title company, lender, real estate lawyer, and myself a dedicated full-time real estate professional.As a long time resident of Hampton roads, I  know the area very well, I can answer your questions and help guide you based on your needs. 
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By Sean Schroeder, Century 21 top producers
(Century 21)
I have talked to many renters, and this is what I am most commonly asked. "How do I know if I should keep renting or if I should buy?" In my neck of the woods, here in Chesapeake, Virginia Beach and Norfolk, a home buyer can get a really nice home for $250,000.  This would be a 3 bed, 2 bath, 1500 to 1800 sqr foot home with a nice yard.  The mortgage payment per month would be 1200 to 1300, of course this would vary based on credit score, MIP, escrows etc.  But with the mortgage interest deduction and taxes the buyer may possibly save or break even. (Check with your tax consultant)So my answer to anyone who is renting if you are paying 900 or more, it is probably high time to consider purchasing a home.   
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By Sean Schroeder, Century 21 top producers
(Century 21)
I still think it is odd that we are in a strong buyers market, were the sellers are just giving away closing cost assistance, and the builders are including granite counter tops, tiled floors, sprinkler systems and in some cases 10 to 20,000 dollars contributions towards closing costs and down payments.  So are the buyers really not buying?  Based on the reports I ran this morning for the areas that I work ( Virginia Beach and Chesapeake ) home purchases dropped, significantly for the month of October compared to the same time frame a year ago.  Here is the current market report YTD ( October 22, 2007 ) for Virginia Beach and ChesapeakeHomes sold to date:  8,645Homes sold last year: 10072A difference of  1,427 homes this is a 14% decrease from 2006 with the number of homes available in ...
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By Sean Schroeder, Century 21 top producers
(Century 21)
Are you looking to purchase a new home in Hampton roads?  Knowing what is happening in our market is a MUST.  I have set up several mailing lists that you can subscribe to.  During the month you will receivereports based on the list or lists that you have joined. Each email will contain an OPT out link and an Update link.And if you have an idea, or suggestion for a list topic please send feel free to contact me with your idea Subscribe To Mailing List(s) 
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By Sean Schroeder, Century 21 top producers
(Century 21)
 43 acres of land dedicated to FUN and enjoyable, relaxing family time.  Just hang out with your children, play ball, jog, basket ball and whole lot more.  When you purchase a home in Kempsville this park, and many others like it, are available to the residents.  I have put togehter a virtual tour of City View parkIf you have a home to sell, or are looking to move to Kempsville give me a call 
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By Sean Schroeder, Century 21 top producers
(Century 21)
I have lived in Virginia Beach since I was 6 years old, and I have come to think of Virginia Beach as home!  I have seen it develop from a small city to a large city with over 500,000 residents!  Over the years I have been able to watch our Navy pilot fly their A-6 Intruders, F-14 Tom cats ( I was sad to see the Navy retire those jets) if you ever had the opportunity to stand next to one, or see 3 or 4 of these jet fights perform maneuvers you would understand.  The Navy replace the F-14 with the F-18, and I am told this is a really awesome machine. I will post some pictures of an F-14 here soon.[ F-14 pic here ]Not only do we have The Navy's Master air base here we also have Damn neck and Little creek (Norfolk) the home of our Navy Seals.  These guys get very little fan fair or press f...
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By Sean Schroeder, Century 21 top producers
(Century 21)
I have friends who play the stock market, they like to say "Buy low, sell high"  I couldn't agree with them more!  If you have been reading your news paper, listening to the evening news you have heard that the real estate market is down or Low. You have also heard or read about the banks.  There has been talk about the feds doing some kind of bail or providing assistance,  a large number of banks have closed their doors, or reduced staff and loan products.  Banks have only one product to sell, that is MONEY.  The federal reserve lowered the rate it charges banks to borrow that money by 50% - this should be old news by now.  However, this rate reduction has allowed the banks to keep their rates low ( there is that word again "LOW" ).Sellers are willing to pay all or a large portion of y...
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By Sean Schroeder, Century 21 top producers
(Century 21)
Virginia Beach homes sales are down from last year. But only slightly! Homes sales in Virginia beach are holding steady, currently 6,488 have been sold in Virginia Beach, and this is year to date. During the same period last year January to October, home sales in Virginia Beach were at 7,303.  This is a marginal drop, in over sales for the city.  However sale prices of existing homes are 3% higher than the year before.  Buyers if you are interested in purchasing a home in Virginia Beach, sellers are providing great incentives such as closing cost assistance and rate buy downs.   But as the inventory starts to decline, sellers will be under less presure to provide you with closing cost assistants or rate buy downs, and the sellers will become less willing to reduce their asking price.  I...
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By Sean Schroeder, Century 21 top producers
(Century 21)
Buyers listen up, and take this into consideration.  I talk to several home sellers every day.  Generally these sellers have to sell, they are either downsizing, moving out of the area, etc.  Sellers who are strongly motivated to sell are more than willing to assist the buyers with closing costs and accept lower sales price.The trend seems to be changing ...Lately however have been hearing a change in sellers attitudes.  Yes they still want to sell their homes, but the urgency is going away.  When the urgency goes away, so does their willingness to assist with closing costs.  Not long ago the sellers were enjoying their good fortune, buyers were lining up and bidding thousands of dollars over asking price.  And than Bam, overnight, things changed.  The inventory increased and buyers sto...
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By Sean Schroeder, Century 21 top producers
(Century 21)
City View park in the Kempsville area of Virginia Beach, is convenient to the residents of Virginia Beach and Chesapeake.   The park is less than 1 mile from the Chesapeake city line, and is located on Kempsville road, between Centerville Turn pike ( Virginia Beach ) and Volvo parkway ( Chesapeake).This wonderful park features two play ground areas, one in the front of the park and the second in the back of the park near the 4 base ball & soft ball fields, walking trails, large field for soccer and basket ball courts, and much more.  During the softball season softball teams from around the country gather to compete in Fast Pitch Softball tournaments.  Basket Ball courtsSoftball fieldsBaseball fieldsWalking pathsJogging trailsLarge modern play groundsSwingsHorse shoesVolley BallPicnic t...
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By Rosie Koehler
(RE/MAX Allegiance)
Ocean Lakes- $309,985Wonderful home on a cul-de-sac, 4 bedroom , 2.5 bath , formal living room, dining room family room with fireplace.  Hardwood floors in foyer and family room. Beautifully landscaped yard with wonderful garden. All new within the last 6 years, roof, windows, flooring, shed, fence, deck, levlor binds.This home is close to the bases, shopping, beach. Great school district- Ocean Lakes High.Comunity pools, tennis courts, playgrounds, clubhouse.  Seller offering $5000 closing costs assistance on a full price offer. A First American Home Warranty and Job Loss Protection. Call today for your private showing.Thinking of buying or selling please give me a call.Rosie Koehler,RealtorRE/MAX Allegiance472-9349www.rosiekoehler.sell4.comrlst8rose@juno.com
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By Rosie Koehler
(RE/MAX Allegiance)
Great new listing in Ocean Lakes- $315,000Transitional 2 story home with 4 bedrooms and 2.50 baths is ready for your family. Nice deck with rollout awning perfect for family cookouts. Above ground pool, hot tub, shed ready to use next summer. Brand new roof Oct. 07, new carpet in 3 bedrooms, hardwood floors in Living room,dining room, and family room, Ceramic tile in Kitchen.This home is located in Ocean Lakes complete with community pools, playgrounds, tennis courts, clubhouse.Great school district- Ocean Lakes High School. Close to shopping, beach, bases. Seller is offering $5000 in closing costs assistance on a full price offer.  A First American Home Warranty, and Job Loss Protection. For your private showing give me a call today!  If you are thinking of buying or selling give me a ...
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By Sean Schroeder, Century 21 top producers
(Century 21)
  As a professional real estate agent I like to watch market trends.  Like everyone else I read the articles in the newspaper regarding the real estate markets.  The average home purchase in Virginia Beach and Chesapeake is approx $250,000.  For 2007, there have been 1,201 homes sold between $200,000 and $250,000.  The average home in these price ranges had 3 bed rooms, 2 full bath and was listed at $227,000.  These sellers received offers of 99% of the list price.  However, these numbers do not factor in the sellers contributions to the buyer for closing costs and pre-paids. 
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