There is no question that the Virginia Beach and surrounding communities are a sought-out area for home-buyers and real estate. Virginia Beach Neighborhood home and condo sales are doing well and the amount of distressed properties keeps dropping (short and foreclosure sales).
The Virginia Beach community is experiencing growth in all spectrums including small and large business relocation and start-ups. These type of changes occurring means growth is moving in the right direction. Many corporations and businesses start-up in the Virginia Beach area because they know the population, neighborhoods, demographics, and have done the research.
Growth projections for out-years and knowing home owners disposable income equates to profitability for them. Virginia Beach and Hampton Roads has all this and more going for it.
This means good things for buyers of Real Estate. As always, home buyers searching for properties should keep resale in mind when they purchase a home and the attractiveness of Virginia Beach neighborhoods are something businesses research before relocating or starting-up.
The Virginia Beach area benefits with the ocean nearby, especially both Sandbridge and the Virginia Beach oceanfront. There is just a certain amount of real estate available that is convenient to these areas. This is further verified as we see new construction homes and condos selling at a good pace in the city.
Dam Neck, Little Creek, and Oceana Naval Bases also add to the attractiveness of the Virginia Beach. Military personnel are a very important part of the communities and neighborhoods. They are frequent buyers of real estate and infuse large amounts of money into the community.
Affordability: While some areas of Virginia Beach have many established and newer upscale neighborhoods there are still bastions of communities that are very affordable. Many of these homes are older but with minor remodeling become very nice real estate for the imaginative home buyer.
Homebuyers should always consider the current or projected economic development and its effect on real estate ownership. Always look for varied types of businesses in the area and understand their “staying power”. The business building going on many areas of Virginia Beach support this principle. Choose your neighborhood carefully.
Lastly, keep a watchful eye on “Days on the Market or DOM”. When this starts decreasing we know that inventory is going down and it becomes more of a seller’s market. What was previously a less than optimum home location can later turn around to be a sought out area. A good example of this is Towne Center and its surrounding neighborhoods.
Need more information about Virginia Beach neighborhoods or surrounding cities and homes for sale? Contact us here – we know the area!!