There were 1,901 Virginia Beach foreclosure homes for sale with 409 new foreclosures in May 2010. The average selling price of a Virginia Beach home was $257,165 in May and the average foreclosure selling price was $231,877, a savings of $25,288 according to RealtyTrac.com.

Virginia Beach Foreclosure Activity and Home Price Index

Home price appreciation was 0.00% with 409 new foreclosures.

Virginia Beach foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or repossession notice – each month. Home price appreciation is based on month-over-month percentage change of the Home Price Index. The Home Price Index is calculated from home sales records.

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Every few years home buyers’ demand change. The 2010 design trends reflect the current move toward family togetherness, casual living, and energy efficiency. Potential purchasers of Virginia Beach real estate are looking for smaller, cost-effective homes which provide both functional and flexible spaces to match their current lifestyle. First-time buyers cannot afford McMansions, empty nesters are looking to downsize, and families are into low maintenance, energy savings, and open spaces,

The age of formality and overindulgent features has gone by. Buyers of Virginia Beach real estate are giving up formal dining and living rooms and passing on libraries, parlors, and studies, opting instead for casual great rooms in which to entertain and enjoy family togetherness. Features currently in demand include the following:

STORAGE SPACE: A double car garage is a must since most homeowners use half of it for storage. Ditto for walk-in closets, a basement or attic, storage space  under stairs, and pantries.

ROOMS: The kitchen (with an island), family room, and master bedroom remain the three most important rooms, and they will most likely increase in size. Living and dining rooms, however, will tend to disappear. Another growing trend is a first floor master bedroom suite, a feature especially desired by seniors.

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Given the state of the economy and our ever-increasing fascination with nature and fresh air, more and more Virginia Beach home owners are discovering the advantages of transforming their backyards or patios into outdoor living spaces. Entertaining at home is much less expensive and more relaxing than going out, and outside “rooms” increase useable living space, provide sensory stimulation, provide stress-free enjoyment, and serve as a multifunctional oasis for family and friends.

Before undertaking such a project, you should first decide on a location and then make a master plan, one that can be implemented in steps. Select a space that can be easily viewed from your home’s interior so that it will feel like an extension of your house. Easy access to the space from the house is also preferable.

The size and scope of an outdoor living space can vary greatly, ranging from a screened in porch to a large area featuring a spa or pool. Whatever the size, however, you will want to consider function, features, furniture, and flora.

FUNCTION: Most outdoor rooms begin as an extension of your kitchen and include some type of grill, space for food preparation, and often a small refrigerator or modular cabinetry.  Other defined areas may include a conversational grouping, a quiet secluded spot for reading or resting, or an area set aside for family activities such as badminton, croquet, or playing in the sandbox or on children’s equipment. Spas and pools generally define their own space.

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Considering buying a newly built Virginia Beach home? Here are some things to think about.

ADVANTAGES:

• HOME WARRANTY: Generally this warranty is good for one year and covers heating, cooling, and electrical systems and plumbing. Some also cover appliances.

• INCENTIVE PROGRAM: Many builders use incentives, both large and small, to attract buyers. Examples include vacations or furnishing for your Virginia Beach home. Note: these incentives are often offered only if you use the builder’s lender.

• CUSTOM DESIGN: If you become involved with the builder early in the building process, you may have a say in the home’s construction–from customized features to flooring to colors.

• FASTER CLOSING. No titles to search.

• SAFETY/HEALTH: No worries about old wiring. lead paint, or asbestos.
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Interior Painting Tips

Whether your desire for a new look inside your Virginia Beach home is because of the arrival of summer or because you hope to hasten the sale of your house, you may be considering repainting in the near future.

While paining can be a long, and sometimes unrewarding, task, professional painters and expert “do-it-yourself-ers” alike agree on ways to make the process less frustrating and more likely to produce a finished product you’ll be proud of. Basically, these tips center around organization, preparation, and patience.

1. GET ORGANIZED

• Purchase all necessary supplies in advance. Include paint, brushes, rollers, and drop cloths on your list. Most pros advise using a canvas drop cloth because it absorbs drips and spills better than plastic, can be more easily contoured around corners, will lie flatter, and can be reused often. Consider buying a canvas runner (4’x15’) which can be more easily moved.

• Set up a work station in the middle of the room. This is the place to keep your paint, brushes and rollers, spackle, hammers and screwdrivers,  cleaning rags, plastic sheets and bags, painter’s tape, paint can opener, etc. Think of everything you might possibly need while painting and gather them together in this one place.

• Take everything down from your walls. Remove furniture completely or, if that’s not possible, move it all to the center of the room and cover with a cloth.

• Remove all hardware from the surfaces to be painted in your Virginia Beach home. This includes switch plates, outlet covers, doorknobs, and light fixtures.  Place the pieces from each one in a separate small plastic bag and label each one

2. TAKE TIME TO PREPARE

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For Sunday’s open house, your Virginia Beach home was in “show-ready” condition. With curb appeal at its finest, clutter nowhere to be seen, windows and appliances sparkling, and the aroma of freshly baked cookies wafting in the air, you were certain that potential buyers couldn’t help but be positively impressed.

However, now it’s midweek, and the house has fallen back into its “lived in” state. Clutter abounds, dishes are in the sink, laundry has piled up, and toys have proliferated overnight. What a time for your Realtor to call to tell you that she wants to show your Virginia Beach home to very serious buyers in two or three hours! What to do? First, don’t panic. Take deep breath, walk through the house to identify trouble spots, and make a mental plan following these handy guidelines.

REMOVE CLUTTER FROM ALL FLAT SURFACES. It’s amazing how quickly items accumulate on the kitchen counters, coffee and side tables, bathroom vanities, dressers, desks, and nightstands and how negatively this disarray affects a buyer’s impression of your home. Straighten papers, put books on bookshelves, stack dishes in the dishwasher, collect newspapers, magazines, and sundry items in shopping bags or pillowcases and stash them–neatly– in your garage or storage shed–or even in the trunk of your car!  Do not try to hide gathered items in your closet or cabinets because people touring your home will definitely be opening the doors to those areas. Also, be sure that your stairs are clear and clutter-free and that piles of dirty laundry are hidden from sight in the washer and/or dryer.

DUST, SWEEP, AND VACUUM. Don’t forget mirrors, wood furniture, or television and monitor screens in your dusting efforts. Also be aware of the need to remove animal hair from sofas and chairs (and perhaps the animals could stay with a neighbor during the visitation). In the living room, arrange area rugs and fluff throw pillows.

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Every few years home buyers’ demand change. The 2010 design trends reflect the current move toward family togetherness, casual living, and energy efficiency. Potential purchasers of Virginia Beach real estate are looking for smaller, cost-effective homes which provide both functional and flexible spaces to match their current lifestyle. First-time buyers cannot afford McMansions, empty nesters are looking to downsize, and families are into low maintenance, energy savings, and open spaces,

The age of formality and overindulgent features has gone by. Buyers of  Virginia Beach real estate are giving up formal dining and living rooms and passing on libraries, parlors, and studies, opting instead for casual great rooms in which to entertain and enjoy family togetherness. Features currently in demand include the following:

STORAGE SPACE: A double car garage is a must since most homeowners use half of it for storage. Ditto for walk-in closets, a basement or attic, storage space  under stairs, and pantries.

ROOMS: The kitchen (with an island), family room, and master bedroom remain the three most important rooms, and they will most likely increase in size. Living and dining rooms, however, will tend to disappear. Another growing trend is a first floor master bedroom suite, a feature especially desired by seniors.

Read the rest of this entry »

There were 1,739 Virginia Beach foreclosure homes for sale with 403 new foreclosures in April 2010. The average selling price of a Virginia Beach home was $266,599 in April and the average foreclosure selling price was $214,453, a savings of $52,146 according to RealtyTrac.com.

Virginia Beach Foreclosure Activity and Home Price Index

Home price appreciation was 0.00% with 403 new foreclosures.

Virginia Beach foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or repossession notice – each month. Home price appreciation is based on month-over-month percentage change of the Home Price Index. The Home Price Index is calculated from home sales records.

Virginia Beach Foreclosure Geographical Comparison

February Virginia Beach foreclosure activity was lower 0.03% lower than national statistics and 0.02% higher than Virginia statistics.

Virginia Beach Foreclosure Activity by Month

The number of Bank-Owned Virginia Beach homes decreased in April from 118 homes in March to 82. The number of Auctioned Virginia Beach homes increased from 194 to 321. The six month Virginia Beach foreclosure trend is rising.

Are you or someone you know behind on your mortgage payments and facing a Virginia Beach foreclosure? You do have options. A foreclosure is not the only way. A short sale may be the answer to saving you, your family and your home. I am a Certified Distressed Property Expert (CDPE). I have the training, knowledge and experience needed to help save your Virginia Beach home from foreclosure. The clock is ticking. Don’t hesitate. Give me a call for a private consultation.

Learn more about selling your Virginia Beach home by visiting ButlerTeamHomes.com and ButlerTeamHomes.net.

What’s your Virginia Beach home worth?