Hampton Roads real estate market

The South Hampton Roads Real Estate Market is Rockin’!

The South Hampton Roads Real Estate Market is Rockin’!

Anyone who is in the market to buy a home in South Hampton Roads can tell you–the market is lively–the real estate market is rockin’! If you don’t get your offer in quickly and if it’s not competitive–you are not going to win the bid! If you are a seller it is a fantastic time to have your home on the market. It seems that people are trying to beat the inevitable interest rate hikes and increased prices that come with enhanced economic activity. Even though it is technically a seller’s market (average length of time on the market is less than six months) it is still a good time to buy a home: interest rates are still very low and home prices are still below their 2008 highs.

Lot’s of Homes on the Market

Don’t worry, there is still a lot of inventory (homes, I mean) on the market; homes are just moving a little more quickly than in the recent past. There are also still bargains out there–foreclosures, short sales, auction properties, and tax sales. Just remember that most of these properties are sold as-is, which means the seller will do no repairs. It is important in these cases to do your due diligence–get a home inspection, research the property, make sure you can get title insurance, make sure you can get out of the contract if you want to be able to without sacrificing your earnest money deposit.

If you want to search for homes in Hampton Roads, I suggest you go here .

Where Will the Market Go?

As I analyze my real estate crystal ball (yes, it’s made of wood, concrete, and dirt) I foresee the market continuing on this track for at least the next year or two. There’s a lot of construction going on; interest rates are still historically low, but rising; inflation is not too bad; jobs and wages are growing. At least that’s what -they- tell us, right? But, I do know from my own experience that houses are selling faster and that prices are higher. That’s why the South Hampton Roads real estate market is rockin’!

As always, thanks for visiting and I’ll see you out there!

Enjoy the day!

 

Hampton Roads Real Estate Market Update

Hampton Roads Real Estate Market Update

Hampton Roads Real Estate Market Update

Hello Hampton Roads! Happy May to everyone and I trust that the spring is going well! How about a quick Hampton Roads real estate market update for the first quarter in Hampton Roads, Virginia?

Virginia Data

First I want to provide some background info–the overall Virginia numbers for the first quarter this year compared with the first quarters of 2014 and 2015. This information is provided by The Virginia Association of Realtors . Statewide home sales in the Commonwealth of Virginia were 2.2% greater in the first quarter of 2016 compared with 2015, and almost 15% higher than 2015!

For the Hampton Roads area, which in the Virginia Realtors report is much larger than what we typically think of as Hampton Roads (the report includes Accomack, Chesapeake, Franklin, Gloucester, Hampton, Isle of Wight, James City, Lancaster, Mathews, Middlesex, Newport News, Norfolk, Northampton, Northumberland, Poquoson, Portsmouth, Southampton, Suffolk, Surry, Virginia Beach, Williamsburg, and York).

Hampton Roads/Chesapeake Bay Data

This area, which the report calls Hampton Roads/Chesapeake Bay, saw it’s home sales (5,304) rise 9.3% compared with the 1st quarter 2015 (4,851) and median sales price rose 1.5% from 1st quarter 2015 ($202,000 ) to 1st quarter 2016 ($205,000).

Time on Market (Virginia Data)

In addition, the report notes that overall in Virginia, the average time on the market for the 1st quarter 2016 was down 6.4% compared with 1st quarter last year–this is good news for sellers since it means that homes are selling faster (and for more money!). But, buyers should not fret because interest rates are still historically low and home prices are still far below bubble prices leading up to 2008.

That’s about it for now, and here’s a gratuitous dog pic just because…

Hampton Roads Real Estate Market

New Construction Home in Norfolk, VA! 1243 Hanson Ave!!!

New Construction Home Norfolk VANew Construction Home in Norfolk, VA! 1243 Hanson Ave!!!

Greetings on this weathery evening (everyone in this plane is experiencing some kind of weather, right?)! Just wanted to tell you about our New Construction Home in Norfolk, VA!

Our sister company, Sound Choice Investments, Inc. , just put 1243 Hanson Ave Norfolk VA on the the market earlier this week. It is a beautiful, well built, new construction home with 2,268 SF of living space, 300 SF attached garage, 4 bedrooms, 2.5 bathrooms, front porch, 2 rear decks, dual zone HVAC, spacious kitchen with granite counter tops, rectangular tile flooring, soft-close cabinetry, 4-piece stainless steel Samsung energy efficient appliance package, large bedrooms including a master with two walk-in closets, deck and tile and granite 2-sink master bath and…well I’m getting too excited about it so I better stop. The lot is over sized, too!

Incidentally, I want to publicly thank our builders, Montgomery Builders, for doing such a great job on this house, very nice work!

This Home is Listed for Sale at $229,900!

This is a great price for this home–you will not find a nicer home than this for under $230,000. If you’d like to see it, please call the best Realtor I know, Liz Schuyler, at 757-235-0274.

More Photos

New Construction Home Norfolk VA

New Construction Home Norfolk VA

That’s all I have for now, and thanks for reading!

Jeffrey Schuyler, Buy and Sell Investments
Jeff Schuyler

Where Is Bruce’s Park, Norfolk VA?

Where Is Bruce’s Park?

Here is question I am asked frequently, “Where is Bruce’s Park?” Usually it’s after I tell them that I’m building new construction homes on Hanson Avenue in Norfolk, in Bruce’s Park. I’ll do a boundary description followed by a map that should be relatively clear.

Start at the corner of Princess Anne Road and Tidewater Drive. Go north on Tidewater Drive and turn right (east) on Goff Street. Go two blocks east on Goff, then turn left (north) on Bolton Street. Follow Bolton all the way to Saint Julian Avenue and turn right (east). Travel east on Saint Julian to Lead Street. Turn right (south) on Lead Street and go to Princess Anne Avenue. Turn right (west) on Princess Anne and return to the intersection of Princess Anne and Tidewater–the enclosed area comprises Bruce’s Park!

Bruce's Park Norfolk VA

Bruce’s Park includes the soon-to-be renovated Cigar Factory which will become apartments; Globe Iron; Jacox Elementary; a couple of parks and churches, and lots of residences. Interior streets include Courtney, Hanson, Maltby, Reservoir, Marshall, Link, Cary, and Jamaica.

Bruce’s Park is an up and coming community that is having lots of infrastructure work, including new gas and water lines. There has also been sidewalk and street repair. Drive through and you’ll notice new construction (see Sound Choice Investments and click on “Property for Sale”) and renovated homes along with a few duplexes and fourplexes. Bruce’s Park is a great place to live because it’s close to schools, Norfolk State University, and Downtown Norfolk.

Bruce’s Park also boasts a newly established civic league which meets the last Thursday of each month at 6 PM at Jacox elementary in the auditorium. Anyone can attend the meeting so come on down! The next meeting will be in January, 2016.

I know what the next question is: Who’s Bruce?

Very good, but the answer will be it a future blog post!

As always, have a truly fine day,

Jeff

Progress on 1243 Hanson Avenue, New Construction Norfolk, VA

Progress on 1243 Hanson Avenue Norfolk, VA

Hello Friends, I trust that all of you are doing well and enjoying the fall, or the spring, depending on where you are!!! It has been a very rainy and wet time in my part of the world, although the last few days have been sunny and incredibly beautiful! The weather hasn’t been too much of an issue for my house-building project because the exterior has been completed for the most part. The roof, siding (except for one peak) windows and exterior doors are all done. The sheet rock and mud work are done. Next steps–primer paint and tile.

Here are a few photos to show what’s going on:

New Construction Norfolk VA
Exterior Front
New Construction Norfolk VA
Living Room
New Construction Norfolk VA
Bedroom 1

It is not easy to find a quality new construction Norfolk VA house for a reasonable price, but this is what our goal is. With each new home we help to build neighborhoods!

Thanks for reading and have a fine day!

Jeff

 

Hampton Roads Real Estate Market Update

Hampton Roads Real Estate Market 2

Don’t have my own photos of an ion collider, so here’s a picture of our dog Bodhi.

 

Hampton Roads Real Estate Market

Can’t leave Ziggy out!

Hampton Roads Real Estate Market

I’m a science guy so the most exciting Hampton Roads Real Estate Market event is the proposed ion collider project at Jefferson Lab in Newport News. Last week the city announced that it would donate 16 acres if more space for the billion dollar project were needed.

According to news releases by The Daily Press the project will be highly collaborative and will bring over 4,000 jobs during the seven-year construction phase and 60 full-time jobs to Jefferson Lab, with a total of $557 million of spending in Hampton Roads during that time.

Any influx of capital and jobs is bound to be good for the real estate market. And this is not the only project–the Tech Center Corporate Research Park construction will begin next year.

 

New Construction House, Norfolk VA

New Construction House, Norfolk VA

Progress at 1243 Hanson Avenue

10-10-15, Exterior Front

 

New Construction House in Norfolk VA

10-10-15, Exterior Front Left

New Construction House in Norfolk VA

10-10-15, First Floor Living Area

New Construction House in Norfolk VA

10-19-15, Exterior Front

New Construction House in Norfolk VA

The builders are really moving on this house and they’re doing a great job! They were finished with the framing October 10, and they had the roof on, insulation up, and windows in by October 19!

This new construction house, Norfolk VA has 4 bedrooms, 2.5 bathrooms, attached garage, and 2,269 square feet of awesome living space!

To view other photos of progress on this house go here.

Please contact Liz Schuyler at 757-235-0274 or Liz.Schuyler@rmxtalk.com if you are interested in this home. You can also find out more at Liz’s website .

Thank you and have a fine day!

New Construction 1243 Hanson Avenue

New Construction 1243 Hanson Avenue
New Construction 1243 Hanson Avenue

New Construction 1243 Hanson Avenue

Our wonderful builders (Montgomery Builders) poured the concrete for the new construction, 1243 Hanson Avenue in Norfolk, VA! Despite the iffy weather, our people were able to get the footers done. The block work should be completed by the end of today (September 28, 2015) and then let the framing begin!

New Construction Description

This 2-story home will be 4 bedrooms and 2.5 bathrooms, 2,268 square feet, have two decks, attached, oversized garage, large yard, and fantastic location. It will have vinyl siding, architectural shingle roof, granite and stainless kitchen, wood, tile, and carpet flooring, and a roomy layout, thanks to the design by Seagull Enterprises.

This single family house will be completed by January, 2016. Please contact me at 757-752-8882 to get more information.

New Construction 1243 Hanson Avenue
1243 Hanson Ave Front Drawing

As always, enjoy the day!

New Construction at 1243 Hanson Avenue, Norfolk VA

1243 Hanson Ave Front Drawing
1243 Hanson Avenue, Norfolk VA

New Construction at 1243 Hanson Avenue

We have the building permit, the stakeout for the footer, and we’re ready to go for our new construction at 1243 Hanson Avenue in Norfolk, VA. The house will be a 2 story, 4 bedroom, 2.5 bathroom home with an attached garage. The square footage will be 2,568 including the garage and 2,268 not including the garage. The house will be located in the Bruce’s Park neighborhood in Norfolk where a lot of exciting projects are happening, including the renovation and conversion of the historic Cigar Factory into apartments.

The home will feature a kitchen with granite counter tops, 42 inch cabinets, stainless steel appliances, custom lighting and tile floor. The bathrooms will also feature granite cabinet tops and tile floors. the living and dining areas will be wood and the bedrooms will have carpet.

The attached garage will be over sized (300 square feet!) with plenty of room for your car plus storage. The house will have vinyl siding, architectural shingled roof, plus main floor and master bedroom decks.

The lot is also over sized at 117.5 feet by 55 feet and will have a privacy fence in the back yard.

The living and dining area plus master bedroom will have ceiling fans.

This large home will be ready to move into in January, 2016!

Labor Day Weekend Thoughts

Labor Day Weekend Thoughts

Labor Day Thoughts
“Fruit” of My Labor

Happy Labor Day Weekend, Everyone!

There is no doubt this is a big weekend. It signals the end of summer, back to school, back to work, holiday weekend, cookouts, the beach, running, music, all kinds of good stuff!  But why do we celebrate Labor Day; where did it originate?

This description is straight from the US Department of Labor website: Labor Day “is a creation of the labor movement and is dedicated to the social and economic achievements of American workers. It constitutes a yearly national tribute to the contributions workers have made to the strength, prosperity, and well-being of our country.” Federal legislation in 1894 stated that the holiday will be celebrated on the first Monday of September each year.

Labor Day in Virginia Beach

Here in Virginia Beach each year we have the American Music Festival and the Virginia Beach Rock ‘n’ Roll Half Marathon . The events coincide and are combined–that is, if you register for the race, you gain entry to the music festival.

If you think about it, these events fit well into the Labor Day theme–they provide work, economic opportunity, and prosperity to all workers and businesses involved. These are not the only events of course. Many of us also have private events, and at some point during the weekend I would like each of us to think about the work that we do, be thankful for the work we have, and look at ways to make our work better for others and ourselves. I like to view work in a positive light because it is a blessing. I exert effort doing something that I’m good at that I enjoy. Others find my effort beneficial and are willing to pay me for it. This allows me to provide me and my family with the ability to live and for this I am truly grateful!

Enjoy your labor (effort) and enjoy the fruits of your labor, especially this weekend!