In addition to the demands of current Virginia Beach home buyers for environmentally-friendly, or green real estate, there is also a growing segment of consumers who are looking for houses which incorporate the principles of feng shui. An ancient Chinese practice, feng shui is believed to improve one’s life through the use of color, location and positioning, and specific materials and objects, all of which combine to produce a positive energy, or chi, in your home.

The primary focus of feng shui is the positive flow of energy, which contributes to the creation of harmony in life. Integral components of the philosophy are the five elements of fire, earth, water, metal, and wood, and each of these is enhanced by color selection and use in your Virginia Beach home as follows:

FIRE – Passion and high energy. These strong colors include red, orange, purple, pink, and bright yellow.

EARTH – Nourishment and Stability. Beige and various earthy sand colors.

WATER – Ease, freshness, and abundance. Blue and Black

METAL – Clarity and preciseness. Grey and white.

WOOD – Health and Vitality. Brown and Green

Other feng shui principles to follow include:

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Because it is both a resort town and a military community, investing in Virginia Beach real estate can be quite profitable and safe. Such a transaction can also be challenging, especially for first-time investors, and requires prior planning, a time commitment, realistic goals, and careful consideration of the following factors.

1. Selecting a property. First decide on a location and the type of property you are interested in. Bordering on both the Atlantic Ocean and the Chesapeake Bay and being the home to large military bases, a thriving Towne Center, and numerous medical facilities, Virginia Beach real estate offers a wide variety of desirable locations sought after by renters. You might also consider proximity to good schools, public services, shopping centers, highways, etc.

Another decision will deal with the type of property you want to own–a single family residence, a multi-family unit, or a vacation rental home. Discuss with you realtor and tax advisor the pros and cons of each to decide which will be most advantageous for you.

2. Examining your finances. In addition to a monthly mortgage payment, investment property expenses can also include taxes, property management fees, utilities, insurance for fire and floods, repair and maintenance costs, condo fees, and periods of vacancy. Be prepared to have cash on hand for a 20% to 30% down payment (or investigate other options).

Also keep in mind that long term (5 to 10 years) ownership is usually best for the average investment. The shorter the length of time you hold the property, the greater the risk.

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Considering a Reverse Mortgage for Virginia Beach Home

There may come a time when, after exploring all your real estate options for the future, you decide that you really don’t want to sell your Virginia Beach home and that you’d rather “age in place.” In that case, you should investigate applying for a reverse mortgage, also known as home equity conversion mortgage (HECM). As with any program or plan that is financially based, there are many pros and cons to be considered before you make a final decision.

Eligibility: you must be at least 62 years of age, own your own home (or have a very low balance that can be paid off), and be living in it as your primary residence. Your Virginia Beach home must meet FHA property standards, and you must provide on-going maintenance and pay property taxes, association dues, and insurance. In addition, you must also agree to attend an information counseling session

Amount: Factors used to determine the amount of your eligibility include your age, interest rates, and the value of your home. Most reverse mortgages provide you with a monthly payment. The are online websites that allow you to calculate/estimate the amount. Go to AARP.com, USAReverseMortgageAdvisor.com, or ReverseMortgageGuides.org for assistance.

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Although house sales usually slow down in the winter months, this year may be different. Because the Home Buyers Tax Credit deadline has been extended and the qualifying income levels have been expanded, this is an ideal time for both first-time and repeat buyers to purchase a Virginia Beach home.

Basic facts Home Buyers Tax Credit:

• The new deadline is April 30, 2010 (June 30^th with a binding, signed contract)

• First-time buyers are eligible for a tax credit of 10% of the purchase price–up to $8000.00

• Repeat buyers (those who have lived in one residence for 5 consecutive years of the last can receive a credit of up to $6500.00.

• Income levels–$125,000 for individuals; $225,000 for couples.

The credit may be claimed on this year’s tax return (for 2009).

***Remember that a tax credit is a dollar-for-dollar deduction in what a taxpayer owes. If the credit exceeds the amount owed, a refund will be issued.

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This final portion of your guide to homeowners insurance gives you information you hope you’ll never use–dealing with damage to your Virginia Beach home. Most likely your policy will explain how to file a claim, but here are the basic steps:

How To File An Insurance Claim On Your Virginia Beach Home

1.  If a crime has been committed, report it to the police. You should get a copy of the police report.

2.  Contact your insurance agent or company immediately.

3. If necessary, try to protect your property from further damage. Save your receipts.

4. Don’t dispose of damaged items until the adjuster has seen them.

5. Prepare a list of damaged items. Take pictures of the damage. (Now aren’t you glad you made an inventory list/video?)

6. Get the appropriate claim forms and fill them out completely. Return them within the time limit.

If you encounter problems (such as denial or inaction within a reasonable period of time) settling your insurance claim for your Virginia Beach home, you can follow these steps:

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We all want to get the best deal when buying Virginia Beach real estate. In the current buyers market, this usually translates to buying when the market hits bottom. Ken Rosen of the Rosen Consulting Group and UC Berkeley recommends buying Virginia Beach real estate for shelter and not as a short term investment. Listen to what Ken has to say:

Learn moare about buying Virginia Beach real estate by visiting ButlerTeamHomes.com.

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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

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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.

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This Virginia Beach home at 1932 Sunrise Drive should be featured in a garden magazine as a guide to tranquil lakeside living. You can feel yourself relax while looking out onto the lake whether you’re inside or out. In the kitchen? No problem, you can see the lake. Relaxing in the hot tub–you can see it from there too. In the back yard amongst the flowers–you can see the lake from there too.

The current owner is a Quality control supervisor and treats his home the same way. As one company says: “Quality, Job One”. He has let nothing slip through the cracks. The family expectation was to stay here “forever”. So, everything was done to be sure it would be as worry-free a home as possible. Now, YOU get the opportunity to take advantage of all his forethought, creativity and wonderful results!

The 3/4 lake front lot is peaceful and beautiful.  Enjoy the view from inside or outside.  The deck offers a hotub, or if you prefer, relax by the gazebo flanked by flowers and shrubs, both sporting views of the lake.

Learn more about 1932 Sunrise Drive and other Virginia Beach homes by visiting ButlerTeamHomes.com.