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Sean Schroeder

Big Changes for 2009!

I have been a full time real estate agent since 2004. My wife, Kathy, has helped me throughout the years with my business. Over the last several years she has wanted to spend more time with her family and our son Ethan. But working a full-time job, for 11 years, at the Virginia Pilot prevented her from her goal. On Christmas eve she gave our us a wonderful gift. Her resignation letter! Though this was in the planning for some time ( 4 years ), she had to take the leap on her own. Yesterday, she delivered this letter and she began her new career as a full-time MOMMY and real estate assistant and coordinator. Wow 2009 is going to be exciting!

Relocating to Virginia Beach

Relocating to the Virginia Beach Area?

Are you relocating to the Virginia Beach, Chesapeake, Norfolk area due to military orders, job relocation or family? The Tidewater area offers home buyers many great opportunities in a wonderful and diverse area. Virginia Beach offers many City owned and National parks. Most notable of these parks is First Landing National park which offers several miles of hiking trails, as well as beach camping. Virginia Beach's wonderful coast line provides swimming, fishing ( piers ), live out door bands, Neptune Festival and much more.

To learn more about what homes are available in Tidewater use the Relocating to Virginia Beach page.

Make your relocation to Virginia Beach, easier by relying on a life time resident of the Tidewater area.

Do you have questions about your relocation to Virginia Beach? Please feel free to email me your questions and I will get you a prompt answer.


Sean Schroeder, REALTOR
The Real Estate-XChange
757-839-3954
seanschroeder@757realproperty.com

Relocating to Virginia Beach; Relocating to Chesapeake; Military orders to Virginia Beach

Smithfield Va. Home For Sale --

*** ONLY 15 minutes from OBICI Hospital ****

Currently priced at only $299,700 ( Best Value In The Neighborhood ! )

This wonderfull 4 Bedroom, 3.5 Bth home with Jack and Jill bath, in ground pool, hard wood floors, Jetted Tub in master bedroom and two level wood deck over looking in ground salt-water pool. Great floor plan with Open Eat-in kitchen, wood and glass French doors open to study. This home offers plenty of space to entertain. This is a must see!

Virtual tours and more information can be found at www.hrshortsales.com and www.757mls.com


302 Nottingham Place Smithfield Virginia

This home is proudly marketed by:

3 OPEN HOUSES on DECEMBER 21st in Smithfield Virginia Come and join us

The Real Estate-Xchange will hold 302 Nottingham Place open to the public between 12 and 4. Durring this same time frame 2 other homes will also be open. Connie Ramsay, with the Lending Exchange will be available to answer your questions regarding loan options, and to get you pre-approved.

The three homes on the tour are:

  1. 302 Nottingham Place, Marketed by The Real Estate-XChange
  2. 212 Winchester Place, Marketed by Greg Garrett Realty
  3. 201 Keswick Place, Marketed by Liz Moore & Assoc and held
    open By The Real Estate-XChange.

For more information regarding this open house please call Sean Schroeder at 757-839-3954

which is a better deal Short Sale or Bank owned property?

Short Sales and Bank Owned properties in Virginia Beach
Are Short Sales a better deal than Bank owned properties?

Every Monday, I pull up a lot of interesting information from the MLS. And today was no exception. In Hampton Roads, also known as Tidewater, is made up of 5 cities in this report I will focus only on Chesapeake, Virginia Beach & Norfolk.

Virginia Beach itself is the fastest growing City in Virginia with over 500,000 households and growing.

The Tidewater real estate market is buffered, unlike many other cities, we have a very strong Navy presence. But, even with this we have our share problems too. Currently The Greater Tidewater area has 274 short sale listings & 303 Bank Owned Properties.

The average short sale property in Virginia Beach has 3 bedrooms, 2 bathrooms, 1969 Sqr feet and has an average list price of $292,000. The average List Price per Sqr Ft on the short sale properties is only $144.

The average bank owned property in Virginia Beach also has 3 bedrooms, 2 bathrooms, and has 1,738 sqr ft with an average list price of $223,000. The average List price per sqr ft on the bank owned property is $130.

During the Month of October 2008, 12 Short Sale properties closed:

Beds Baths List Price Sale Price SP/LP Percent
High 4 3 $799,000 $799,000 103%
Low 2 1 $155,000 $150,000 91%
Average 3 2 $293,496 $288,500 97%
Median 3 2 $247,450 $242,500 97%

From the information above, Average and Median home sold for 3% less than the list price. Most short sales, are priced to sell, usually below the the fair market value.

Looking at Bank Owned properties during the month of October 2008.

Beds Baths List Price Sale Price SP/LP Percent
High 5 4 $679,900 $655,000 115%
Low 2 1 $104,900 $95,000 77%
Average 3 2 $263,714 $247,846 95%
Median 3 2 $239,900 $215,000 96%


Comparing the information between both Short Sale properties and Bank Owned. We see
that the Bank Owned Properties sell for fare less than the Short Sale properties, and at 95% of the list price as well.

First this tells us that the banks get less when they sell properties than do the current owners when a Short Sale is used with a professional real estate agent.