Five Reasons To Buy A Virginia Beach or Hampton Roads Home Now

5 reasons to buy a virginia beach homeBased on prices, mortgage rates and soaring rents, there may have never been a better time in real estate history to purchase a Virginia Beach or Hampton Roads home or condo than right now.  Here are five major reasons purchasers should consider buying:

1.  Supply Is Shrinking 

With inventory declining in many regions, finding a home of your dreams may become more difficult going forward. There are buyers in more and more markets surprised that there is no longer a large assortment of houses to choose from.

The best homes in the best locations sell first. Don’t miss the opportunity to get that ‘once-in-a-lifetime’ buy.   Inventory in Virginia Beach and Hampton Roads has fallen consistently in 2012.

Search all Virginia Beach and Hampton Roads Homes and Condos Here.

2.  Price Increases Are on the Horizon

Prices will bounce along the bottom this winter.  However, projections call for appreciation after that. Several studies and surveys call for price increases over the next few years starting in 2013.   One such survey shows that prices will increase over 10% by 2016.

3.  Rents Are Skyrocketing

Rents historically increase by 3.2% on an annual basis. A study issued earlier this year projects rent increases of 4% for the next two years. Trulia recently reported that rents this year have actually shot up by 5.4%.

4.  Interest Rates Are at Historic Lows

Federal Reserve Chairman Ben Bernanke has kept interest rates low in an effort to stimulate a lethargic economy. He understands that low rates will help housing and housing is a key to bringing back the economy. As the economy approves, the need to keep rates low will no longer exist. The 30-year-mortgage rate before the financial crisis was 6.57% (August 2007).

5.  Buy Low, Sell High

We would all agree that, when investing, we want to buy at the lowest price possible and hope to sell at the highest price. Housing can create family wealth as long as we follow this simple principle.   Today, real estate is selling ‘low’.   It’s time to buy.

Contact Dennis Blackmore with Creed Realty Virginia Beach for your Dream Home or Condo.  A few of your dream homes are shown below:

See all Just Listed Virginia Beach Zip 23456 Homes for Sale.
(all data current as of 3/29/2015)

  1. 3 beds, 2 full baths
    Home size: 1,464 sq ft
    Year built: 1990
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  2. 4 beds, 3 full baths
    Home size: 1,987 sq ft
    Lot size: 13,939 sqft
    Year built: 1975
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  3. 3 beds, 1 full, 1 part baths
    Home size: 1,288 sq ft
    Lot size: 5,227 sqft
    Year built: 1983
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  4. 7 beds, 3 full baths
    Home size: 4,025 sq ft
    Year built: 1968
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  5. 3 beds, 2 full baths
    Home size: 1,778 sq ft
    Year built: 2004
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  6. 4 beds, 2 full, 1 part baths
    Home size: 2,355 sq ft
    Lot size: 13,846 sqft
    Year built: 1999
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  7. 4 beds, 2 full, 1 part baths
    Home size: 2,400 sq ft
    Year built: 2015
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  8. 5 beds, 2 full, 1 part baths
    Home size: 2,976 sq ft
    Year built: 2015
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  9. 5 beds, 2 full, 1 part baths
    Home size: 2,737 sq ft
    Year built: 2015
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  10. 5 beds, 3 full baths
    Home size: 3,037 sq ft
    Lot size: 11,325 sqft
    Year built: 1997
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  11. 4 beds, 2 full, 1 part baths
    Home size: 2,097 sq ft
    Lot size: 41,382 sqft
    Year built: 1990
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  12. 4 beds, 2 full, 1 part baths
    Home size: 2,460 sq ft
    Year built: 2014
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  13. 4 beds, 2 full, 1 part baths
    Home size: 2,684 sq ft
    Lot size: 8,276 sqft
    Year built: 2012
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  14. 3 beds, 2 full, 1 part baths
    Home size: 2,674 sq ft
    Year built: 2003
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  15. 6 beds, 3 full baths
    Home size: 3,054 sq ft
    Year built: 2014
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