Foreclosures Down Last Month
May 28th, 2008 | Posted in Hampton Roads Housing | No Comments »
Between March and April of 08 the number of foreclosures fell sharply in Hampton Roads according to a company that monitors forecsloures nationwide. The number was 83 percent higher than April 2007 according to RealtyTrac. In Hampton Roads, the foreclosure concentration ratio was one to ever 2006 home owners. In Virginia Beach the ratio for April was 1 to 903 home owners or 192 filings for the month.
There are opportunites out there for people that have good credit and can move fast on foreclosed homes as we are seeing banks become more aggressive in moving some of the homes by dropping prices $50,000 to $100,000 in a day. If you have a credit line or cash, you are in even a better position when negotiating with a bank because they looking to move inventory and many times will place a lower cash offer within reason ahead of an offer that is being financed.
If you are not working with an agent and looking to get back into the game and can show verification of funds or get preapproved with a direct local lender, email me or call me to get in on the game. Each deal has to be looked at and evaluated as there may be work to do. My specialization is in representing buyers and sellers with the sale of Virginia Beach homes and condos.
News Release
May 28th, 2008 | Posted in Hampton Roads Housing | No Comments »
William E. Wood and Associates - Introduces the Region’s Newest Real Estate Magazine. The first edition of its new, self-published monthy Home Source Magazine will be on newstands throughout Williamsburg, Southeast Virginia, and Northeast North Carolina in the 1st week of June.
This free full-color will intially have over 100 pages that promote the company’s more than 2600 properties for sale throughout the region. The President of William E. Wood sees this as an innovated way to advertise all our listings in a professional designed publication that drives prospective buyers to the company website and to the agents until the listings sell.
As the region’s largest real estate company, William E. Wood continues to lead the market in sales and innovation with over 700 agents.
Grantor’s Tax Ruled Unconsitutional
March 13th, 2008 | Posted in Hampton Roads Housing | No Comments »
The Virginia Supreme Court has ruled the grantor’s tax unconsitutional. This would have unfairly raised taxes only on those people selling homes in Hampon Roads by enormous portions in order to pay for new roads and existing roads. Currently, on a $200,000 home the grantor’s tax is $200. The proposal would have raised it to $1000 on the same $200,000 home. Lets be grateful that this did not go into affect and create another obstacle in this unbelieveable home market.
Homes are still selling in Virginia Beach
December 27th, 2007 | Posted in Virginia Beach Homes | 1 Comment »
Homes are selling in Virginia Beach and neighboring communities! Yes, the market has slowed, but people are still buying too! Seller’s need to be realistic and make sure their homes are up to par prior to putting them on the market because of the number of homes on the market. Buyers are looking at everything and will not come back for a 2nd look unless it shows well intially. Curb appeal is a necessity just to get the buyer in the door. Experienced agents coach home owners on items that need to be addressed prior to putting the home on the market. Some of my clients ask me do I have to do that, and I ask them do you want to live in your home or sell your home! If you are looking for an aggressive agent to work on your behalf whether you are buying or selling a home, give me a call.