The most important piece of a person’s financial life is their credit score. Whether buying a new Virginia Beach home, applying for a job, refinancing your Virginia Beach home, paying off debt, or getting utility service, your credit score will drive the outcome. One would think that Americans are all aware of what the scores are measuring and what factors play a part. But, most Americans do not know enough about the three digit rating or what is involved. Do not let these credit score myths get in your way when preparing for the purchase of your next Virginia Beach home.

Myth: Checking a credit report can either damage or lower your score.
A credit report can be conducted by you or someone like an employer as many times as desired with out having any impact on your credit score. Reviewing your credit report will never change your credit score. Just make sure that reports are retrieved through the bureaus or a legitimate score seller.

Myth: Age, sex, and income are factors that affect your score.
None of this information plays a role in determining your score. A higher income may make it easier to pay off debts, but income and net worth have no impact of credit scores.   

Read the rest of this entry »

Sometimes people have to sacrifice purchasing their dream home for a less perfect home in a better location. The buyer and family’s quality of life can be affected by their surroundings and features a neighborhood has to offer.  Choosing the best neighborhood is just as important as finding the perfect home.  Neighborhoods have numerous characteristics to consider when trying to make the right choice.

One of the most important things to look in to is the quality of schools in the area. Compare various public schools within a school system; some may be better than others. In order to keep all options open, also take a look at private schools in the area. Even if you do not have kids that will attend school, it is still a good idea to pick an area with good schools to help with reselling Virginia Beach real estate.

Another crucial characteristic of a neighborhood to research is the crime. Contact the local police office to find out crime trends, types, and rates. Go online to find out if there are any sex offenders living near by. Do not judge a book by its cover, just because a neighborhood looks well kept and charming does not mean there are not any crime related issues.

Read the rest of this entry »

New tax code changes create benefits for owners of a Virginia Beach home. For years, many people have usually turned away from considering taking on the financial responsibilities of being a homeowner. Renters and prospective home owners are well aware of all the financial stress that comes with owning a home, which makes them hesitant to make the big step and commitment. What might not be known is that homeowners are receiving more tax benefits now than ever before. The Internal Revenue Services, known as the IRS, has made owning a Virginia Beach home a more favorable option in several ways. 

Monthly house payments bring the biggest tax benefit to home owners. The interest included in the monthly mortgage payments is tax deductible as long as the loan is for less than a million dollars. IRS guidelines also allow deductions for interest on refinancing and home equity loans. However, they do put limits on how much is actually allowed to be deducted. Borrowing against the equity of your Virginia beach home is an option renters do not have. Renters also do not have the ability to file federal tax deductions on their monthly rental payments. 

Read the rest of this entry »

Existing-home sales rose for the third consecutive month with inventory easing and home prices declining less sharply in June, according to the National Association of Realtors®.

Lawrence Yun, NAR chief economist, is hopeful about the gain. “The increase in existing-home sales occurred in all major regions of the country,” he said. “We expect a gradual uptrend in sales to continue due to tax credit incentives and historically high affordability conditions. Despite the rise in closed transactions, many Realtors® are reporting lost sales as a result of new appraisal standards that went into effect May 1 of this year.”

Now, let’s take a look at the numbers for single family home sales in Hampton Roads real estate sales statistics and see how June sales compared to last year.  

Norfolk-Is the only city showing a decline in the number of home sales, however, the decline in median sales price is less than all the other reported cities. 

Virginia Beach- People are on the move!  Home sales increased over 21% from this same time last year. 

Portsmouth- Also shows an increase in sales volume, although the decline in sales price is still in the double digits. 

Chesapeake – Is still showing a double digit decline in median sales price. 

Suffolk The average days on market appears to be in line with last year but they have had a significant decline in median sales price, ouch! 

Now is a GREAT time to be buying a home in Hampton Roads, if you are looking for a long term investment. Now is not the time to buy and flip…but to buy and hold for 3,4 or 5 years. 

To learn more about Hampton Roads real estate, please contact us at 866-222-0158 #550 or visit ButlerTeamHomes.com. 

 Interested in knowing what your home is worth?  Visit HRHouseValue.com. 

Statistics compiled from Real Estate Information Network. They are deemed reliable, but not guaranteed.

Finding ways to deal with small spaces in your new Virginia Beach home can be tricky. Everyone likes the place they call home to be somewhere they can kick back and relax. However, it is hard to relax in areas that are cluttered and uncomfortable. Strategic interior design can make a big difference when dealing with small living spaces. Colors, lighting, organization, and décor can make spaces appear smaller or larger. Here are some solutions to make your Virginia Beach home look and feel cozier. 

Organization is the first thing to be conquered when transforming a small living space. Getting rid of clutter and maximizing the use of storage space are the keys to success. Clutter will make any space appear smaller than it really is. Eliminating excessive knick-knacks is one way to reduce clutter. Multiple pieces of small, scattered furniture can also make a room look jumbled. Using a couple pieces of slightly larger furniture leads to a less cluttered look. Every inch of storage space should be taken advantage of in small living areas. Planning out storage space will allow for more walking room, functional closets, and more productive space. Use multipurpose furniture like ottomans, which can be used for storage and seating. Try installing an organizational system in the closets. These systems usually provide a perfect spot for everything. 

Read the rest of this entry »

Selling your Virginia Beach home should be a smooth profitable transaction. But it could end up being an unsuccessful, draining experience, especially if the appropriate precautions and preparations are not observed. A majority of the time, the chance for success lies within the hands of the hired real estate expert. In order to guarantee optimal results, the sellers must be willing to cooperate and consider the professional advice of their real estate agent. Agonizing over a listing price, making the property presentable, rushing for last minute showings, answering inconvenient calls, and frazzling thoughts of not being able to sell are all stressful components of selling your [city] home. If you and your [city] home are not properly prepared there is a great risk of losing thousands of dollars in an unsuccessful transaction. Included in the following section are five of the most common, costly mistakes homeowners can easily avoid when selling their Virginia Beach home. 

1. Do not believe all real estate professionals are the same, choose wisely

The process of selling your home involves many tedious details and critical decisions. Real estate professionals are experts in handling these situations and offering knowledgeable guidance to sellers. It is crucial to research several professionals in order to find a suitable match with experience selling homes similar to yours. Real estate agents use different methods to sell their listings. Innovative professionals who promote listings with newer techniques to attract buyers are always more successful than professionals relying on traditional strategies. 24-7 advertising, excessive exposure and lead generation are important services agents offer to aid in selling your home. Hiring and utilizing the right real estate professional can significantly maximize the chances for a smooth, profitable transaction. 

Read the rest of this entry »

A real estate Appraisal is not the same thing as a Comparative Market Analysis (CMA). A real estate Appraisal determines the market value of the property, which is an estimate of the sale price of the house. An Appraisal is mandatory when you are borrowing money from a lender to purchase a home. An Appraisal is done by a specially trained and experienced individual known as an appraiser. 

On the other hand, a Comparative Market Analysis is used to determine a reasonable asking price based on the selling and listing prices of comparable real estate. This is conducted by the real estate agent listing the property. The sole purpose of a CMA is to help the real estate agent advise the sellers when trying to come up with an appropriate asking price. This is different from an appraisal because a Comparative Market Analysis helps determine the actual asking price, where as the appraisal reveals the property’s actual value. Appraisers usually use similar research on comparable properties as a factor in determining the property value. 

Here are some myths and facts to help you lean more about the Appraisal of your Virginia Beach real estate. 

Read the rest of this entry »

Summer is a time for fun in the sun and endless recreational activates. Unfortunately, the summer time is also the most hazardous time of the year. During the summer months, people of all ages, particularly young children and senior citizens, are more prone to experiencing a rage of mild to deadly health related issues. Whether having fun in your own backyard or away from your Virginia Beach home, there are numerous precautions to be observed when ensuring the safety of children family and friends, especially when it comes to water related actives or severe weather. In order to have a safer and more enjoyable summer, here are some crucial tips to consider. 

The summer season brings some of the most deadly weather of the year. Severe thunderstorms and scorching heat often interrupt summer plans. 

Read the rest of this entry »

There were 1,262 Virginia Beach foreclosure homes for sale with 254 new foreclosures in May 2009, down for the April 2009 high of 300 new foreclosed homes. The average foreclosure selling price was $219,965. The estimated median value of a Virginia Beach home is $233,108, down 7.01 percent from May 2008, according to RealtyTrac.com.

Virginia Beach Foreclosure Activity and Home Price Index

Read the rest of this entry »

Virginia Beach Homes For Sale:

929 Fern Ridge Road Virginia Beach , VA 23452

HERE IS THE EXCEPTION TO WHAT YOU’VE SEEN SO FAR: …. Up until now, everything you see “Needs Work”; “Has Potential”; “Look what you could have” “Subject to Short Sale” ….

NOW you have found the ONE home that is really in great condition and ready for you to say AHHHHH! Look, Love, Buy and Move In! Custom kitchen features new cabinets (42″ wall cabinets) and counters, new flooring and a wall of pantry space. Add the new island complete with pan drawers and an electrical outlet and you have a wonderful and functional cooking area. Never enough counters or storage space? Not Here! More cabinets and better placed than anything you’ve seen in this price range.
This is just the kitchen, continue reading to learn even more about all the wonderful updates and upgrades in this home. Maybe you’ve found the Home for your future.

Search all Virginia Beach homes for sale.