Home Values & Market

How does the value of your home compare to when you purchased your home?   Should you buy now?   Where is the local Hampton Roads real estate market headed?  Are homes selling?

There are currently 25 blog entries related to this category.

Possibly the most architecturally recognized home in Hampton Roads was up for sale recently has been sold for 2.2. million.   The Cooke House was designed by American architect, interior designer, writer, and educator Frank Lloyd Wright.  Some consider Wright the greatest architect of the 20th century, and the greatest American architect of all time.  He believed in designing structures that were in harmony with humanity and its environment, a philosophy he referred to as  organic architecture.  Wright’s  American style of architecture emphasized simplicity and natural beauty in contrast to the elaborate and ornate architecture that had prevailed in Europe at the time.

 

 The 3,000-square-foot house has 4 bedrooms, 3 complete bathrooms, 3 zone

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Chesapeake Beach was developed in the early 1900's (somewhere around World War 1) as a beachfront residential community. Current maps have it being bordered on the south by Shore Drive (Shore Drive is one of the corridors leading to the tourist destination of the Virginia Beach oceanfront) and Little Creek Naval Amphibious Base caps the west side of this community.  This two mile stretch of beach merges longer stretches of undeveloped, protected beaches which harbor dolphin and other marine life.    Older maps, dating back to the 18th century, identify the area as “Pleasure House”, likely named for The Pleasure House, a tavern that catered to Confederate soldiers.  Currently this little stretch is where the longest bay-bridge connects to the Eastern…
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There are many cool Home Trends this year, so much so that I will be writing a second blog on just luxury home trends.  Please stay tuned and check back soon in regards to that.  If there is one word for 2016, I think it would be STYLE!

As we begin to mark the halfway point of 2016, here are some design trends that have really taken off over the last 6 months.

Now if you are anything like me, your home is always changing and evolving to keep up with your busy "on the go" lifestyle. Our living environment affects us in a multitude of fashions so it’s important to create your home to integrate well with your needs.

Personally I'm always running from point A to point B that when I get home I crave simplicity.  A more serene lifestyle that includes

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Members of the armed forces learn very early in their careers that being flexible is an important skill. When orders are handed down, they will be expected to cooperate and make adjustments quickly. One of the major adjustments that this group faces is called PCS or permanent change of station. Essentially, this is a relocation, and for those who own a home there can be quite a few complications. Here are a few simple solutions and tips that can make these change easier to handle.

Major Issues

The main issue with home ownership and PCS is something like this: You own a home and are forced to move somewhere new, where you must decide to rent, own or (if available) live in the barracks. This is complicated further by the following considerations:

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    It might seem like the holidays, November through January, would not be a good time to sell or buy a home.  While it's true that the holiday season can be  stressful enough without added distractions, don't rule out the unique opportunities that the season provides.  Here are a few examples. 

    Because the holidays are so hectic many choose not to sell during this time.  This provides a less competitive time to place your home on the market.  It can be a particularly good opportunity in a popular area or a hot market and give you a step-up in showing your home. 

    Speaking of showing your home, the holiday season can be the best time to make yours feel warm, cozy and inviting.  The smell of the tree or fresh cookies baking can make visions of sugar

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    With the extremely high heat index temps that we have been graced with lately, it is very easy for the humidity levels in your home to also increase.

    During summer months the Hampton Road climate can lead to a lot of moisture in your home, which can cause damaging mildew. To control this moisture, you should think about getting a dehumidifier, which helps to remove unwanted humidity.  How your home deals with humidity depends heavily on the design and construction; a building that is more energy-efficient and airtight will have a higher chance of increased humidity problems.  This happens because the tighter your house is, the less air is exchanged. 

    When this becomes an issue is when you are trying to cool your house.  The air conditioning can

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    Did you know that staging your home when getting ready to sell can actually increase your sale price?  Staging helps boost a home’s perceived value! On average, sellers receive $2 in increased sale price for every $1 they put into staging a home.  According to The International Association of Home Staging Professionals, 95% of staged homes sell on average in 11 days or less and for 17% above the asking price compared to those not staged, in a similar market.

    Proper staging can help a potential buyer visualize your home as “move-in ready” and facilitate in not only helping you sell your home for a higher price but help you to sell your home quicker.  It assists in allowing the buyer feel like they could drop their bags and move right in.

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     Hampton Roads is a wonderful place to raise a family!  With the coast on the right and land on the left, there are always numerous fun things to do.  We are lucky to live in such a great area to keep kids engaged with kid-friendly family activities.  From exploring with toddlers at the Children’s Museum to refreshing water slides at Ocean Breeze, you and your visitors this summer are sure to have a blast over the next few months. You and your kids can do these fun activities listed below indoors and outdoors.  I’ve broken it up by city.

    NORFOLK

    • Cannonball Trail

    Description: Follow markers through Town Point Park and Downtown Norfolk on the self-guided tour. 

    Address: Freemason Street Reception Center for the Cannonball Trail

    401 E.

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    On Thursday, March 12, Old Dominion University’s E.V. Williams Center for Real Estate and Economic Development (CREED), hosted the 20th anniversary of Hampton Roads Real Estate Market Review and Forecast at the Ted Constant Convocation Center.  It featured reports and forecasts from local experts about the residential, industrial, office, multifamily, retail and investment markets within Hampton Roads.

    Six hundred of real estate and economic development's top industry professionals gathered at the campus for this annual event that this year celebrated two decades of transformative development across Hampton Roads. 

    According to John Lombard CREED executive director and chair of the School of Public Service in ODU's Strome College of Business,

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    The recession and recovery effected young adults and their headship rate more than that of older adults. Many young people struggled in the recession and as a result moved in with their parents. 

    As our economy continues to improve and add jobs, younger Americans—millennials—are slowly starting to move out of their parents' homes where a record number of them have been living for the past few years.  The global financial crisis that resulted in the 2007–2009 recession forced many unemployed or financially struggling millennials (those currently aged 18 to 34) to move back home or continue to stay living with their parents.

    This trend has been one of the forces holding back the US housing market.

    Establishing an independent household has long been

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