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

filed under: General Articles posted on October 3rd, 2012

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 12/28/2014)

  1. 4 beds, 2 full, 1 part baths
    Home size: 2,485 sq ft
    Year built: 1989
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  2. 4 beds, 2 full, 1 part baths
    Home size: 2,240 sq ft
    Year built: 1998
    Broker reciprocity icon
  3. 3 beds, 3 full baths
    Home size: 1,824 sq ft
    Year built: 1989
    Broker reciprocity icon
  4. 3 beds, 2 full baths
    Home size: 1,627 sq ft
    Year built: 2007
    Broker reciprocity icon
  5. 2 beds, 1 full bath
    Home size: 400 sq ft
    Year built: 2004
    Broker reciprocity icon
  6. 4 beds, 2 full, 1 part baths
    Home size: 2,540 sq ft
    Year built: 1996
    Broker reciprocity icon
  7. 5 beds, 2 full, 1 part baths
    Home size: 3,484 sq ft
    Year built: 2003
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  8. 5 beds, 3 full baths
    Home size: 1,950 sq ft
    Year built: 1969
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  9. 5 beds, 3 full baths
    Home size: 3,216 sq ft
    Year built: 1986
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  10. 3 beds, 2 full, 1 part baths
    Home size: 2,303 sq ft
    Lot size: 6,790 sqft
    Year built: 2003
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  11. 4 beds, 3 full, 3 part baths
    Home size: 2,964 sq ft
    Lot size: 20,473 sqft
    Year built: 2008
    Broker reciprocity icon
  12. 5 beds, 3 full, 1 part baths
    Home size: 3,841 sq ft
    Lot size: 16,117 sqft
    Year built: 2000
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  13. 3 beds, 2 full, 1 part baths
    Home size: 2,140 sq ft
    Year built: 1990
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  14. 6 beds, 3 full, 1 part baths
    Home size: 3,137 sq ft
    Year built: 2014
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  15. 3 beds, 2 full baths
    Home size: 1,830 sq ft
    Year built: 1995
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Listing information deemed reliable but not guaranteed. Read full disclaimer.

 

posted by Dennis Blackmore

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