About Virginia Beach's Pembroke Meadows

Short sales in Pembroke Meadows are a rare occurrence, even in these trying times. This community of approximately 500 homes was built primarily in the late 1960's and early 1970's. The single family residences in Pembroke Meadows range in size from three to six bedrooms with square feet estimates from a low around 1,400 to over 2,700. Some of the houses are waterfront, a few have pools, and almost all of them have attached garages. But few of them have been short sales or foreclosures. In fact, there have been only nineteen on the market in the past year and of that 19, four are currently on the market. One of the active properties is a foreclosure property, or REO. Fourteen were sold, one of them was a short sale, and one was withdrawn.

It seems that once someone moves into the neighborhood, they don't want to leave. When you look at the neighborhood it's easy to understand why. There is a city maintained community park, a community swim club, and an elementary school right in the neighborhood accessible without crossing any major roads. The location of Pembroke Meadows is about five minutes from the downtown Virginia Beach business and shopping district called Town Center. Because the neighborhood was built in the 60's, the lots are larger than what is customary for today's neighborhoods and as anyone who buys a lot of real estate will tell you, buy the house that comes with land because land doesn't generally depreciate. With easy access to a number of highways and thoroughfares, it's easy to see why this popular neighborhood has a low turnover rate.

If you're looking for a short sale or foreclosure in Pembroke Meadows, you might be in for a bit of a wait. And when one does come on the market, you'll want to jump right on it before someone else grabs it up.