Happy New Year 2008 to all!
The local and national news media continue to get the status of Real Estate overall wrong..wrong..wrong! How frustrating it is to all of us in the real estate business and how concerning and confusing it is to potential real estate buyers and sellers.
Our local newspaper had an article (front page; below the fold) a couple of days ago, regarding the condition of real estate in this part of Va ie Virginia Beach, Chesapeake, Suffolk, Norfolk and Portsmouth and all other areas in the broader general area of Virginia. They used statistics, indicating a large inventory of homes for sale and the stagnent nature of Real Estate, finding people to quote who had nothing but "gloom and doom thoughts" about Real Estate in the area. (They say that you can prove anything by statistics and how you interpret them if you have an agenda going in. How true it is.)
Also, the cable network news (several the last few days) had pieces indicating the "terrible condition of real estate nationally, with no improvement in sight until 2009...maybe?" Irresponsible!
The Reality in the Virginia Beach, Chesapeake, Suffolk, Portmouth, Norfolk Area of Virginia:
In the year 2007, the price of Homes sold in Virginia Beach increased from 2006 by 5.38%. This 5.38% increase is more reflective of the real estate market in the area (prior to the Real Estate Boom between 2002-2005) ie an increase in value yearly of 5%-7+%, consistently over time. The Virginia Beach Area Real Estate market has always been a very stable market with no real downturns and always a positive increase in Home Values!Residents of the Virginia Beach and surrounding area can go into this New Year of 2008 with a positive approach to our Virginia Beach Area real estate market!
(We did end the year 2007 with a large inventory of homes for sale--a standard condition of a home buyers market and homes are staying on the market longer then the "Feeding Frenzy" years of 2002-2005. Also the overall increaee of value in the other cities of Chesapeake, Norfolk, Porsmouth, Suffolk was 2.37%. Not great, but far from a disaster.)
www.hrmls.com/jameswillis All Homes for Sale in Virginia Beach and all surrounding areas of Va. Easy to Navigate, Updated Daily!! PLUS great 'Local Links' about this wonderful Va Beach Area PLUS Blogs about the local area, including real estate.
www.activerain.com/jimwillis Jim's Virginia Beach Real Estate Blogs
GOOGLE ME jim willis
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See All Homes for Sale (Entire MLS) in Virginia Beach and All Surrounding Areas of Va. Full Details, Addresses, Photos. Plus Lots of Local Information. Click on any Hyperlink that shows googlejim.com
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I'm sorry I can't read your comment in that it came to me in code.
Jim Willis GOOGLE ME jim willis
Rose and Womble Realty
757 287 6345
jimworks4u@aol.com
www.hrmls.com/jameswillis
Right on Jim! You are the man with the plan! And all the info! I would work with you any day of the week!--Your fellow Realtor-Dawn Horns-Miller