Chesapeake, VA Real Estate News

By Denise Allen, Realtor@ Chesapeake, Hampton Roads
(Resh Realty Group)
The North Landing Bridge has reopened.  The bridge connects Chesapeake and Virginia Beach.  The bridge has been closed for more than two months for repairs.  The repairs were delayed because cold weather interfered with the concrete work according to the Army Corp of Engineers web site. The span is located where Mt Pleasant Road changes to North Landing Road.  It was built in 1951 according to the Army Corp of Engineers. The steel grid and the concrete surface was removed and replaced.  They also repaired some underwater support pilings, and worked on concrete abutments.  Traffic control gates were also replaced and lights and poles were painted.  Lastly the bridge house was upgraded and a storage building was added to the site.  
Comments 1
By DeAndrea "Dee Dee" Jones, DMVRealEstateChick
(Found It, LLC)
It is important for everyone to know that FHA Guidelines for new loans will change again around Feb 1st, 2010.  This will effect new buyers and those trying to sell a home.  Changes are designed to help stabilize the market but the effect is to be determined. The changes include: 1.Increase the up-front mortgage insurance premium (MIP) to 2.25%; 2.Update credit score and down payment requirements for new borrowers; (check with your loan officer) 3.Reduce seller concessions to three percent, from six percent; and 4.Implement a series of significant measures aimed at increasing lender enforcement.  Obviously these changes will: For new buyers- you will need to Save and come up with more of your own money for closing cost and down payment requirements. Thus Creating a stronger buyers marke...
Comments 2
REIN- Real Estate Information Network December 2009 Summary - A view from our Virginia Beach MLS                                                     REIN is our local Multiple Listing service.  It is indepenly owned by broker stockholder members.  It serves the areas in Tidewater or Hampton Roads, including Williamsburg , the North Carolina border and all the cities in between. Although you have to take in to consideration that these are average prices and each city would have different results, if done city by city.   Our local market seems to be on the recovery, but we must not forget that a very large percentage of the homes sold were distressed sale, short sales and bank owned properties. Every spring we get the military transfers coming in, so If you are thinking of selling your h...
Comments 0
By Denise Allen, Realtor@ Chesapeake, Hampton Roads
(Resh Realty Group)
Do you know where yard sales are in Chesapeake?   I know where most of them are because I go to www.YardSaleTreasureMap.com .  The site takes information from Craigs list and posts them.  You enter a starting address, how many miles you want to drive, the day of the week and click search.  You are awarded with a Google (of course) map with each yard sale as well as driving directions.  If you click on the red balloon it gives you the time, address and any specifics about what is being sold.
Comments 0
  Map of homes that have been on the market in the past 6 months in Ravenna - Chesapeake - Virginia Ravenna - Chesapeake - Market Report, Homes for sale information has good news for the neighborhood. Once again, priced right properties are selling. Most neighborhoods have a long list of stagnant listings, and although in Ravenna there are expired's now, we must take in to consideration that we just finished the holiday season and the selling season is just in it's way.  There are 3 houses under contract at the time of this blog being published.   The blue line only tells us how long the houses that sold where on the market. - Of the active 5 are New Construction. - Of the Pending homes 2 are New construction. - Homes are selling close to asking price, ( 90%) but this doesn't take in to...
Comments 1
By Denise Allen, Realtor@ Chesapeake, Hampton Roads
(Resh Realty Group)
Do you have stinky water in Chesapeake?  Do you have well water?  What causes the smell and how can the typical homeowner in Chesapeake fix it?  Often water pipes are contaminated during construction with soil and the soil is deposited in the bottom of the tank. The soil contains Sulfate Reducing Bacteria (SRB).  The SRB react to the metal rods in the water heater creating hydrogen sufide which is harmless but smelly.  Here are three cures that might help you out. 1.  Replace your current magnesium metal rod in the water heater with an aluminum one.  The rod is used to improve the life of the glass liner but produces hydrogen sulfide as a by product.  The aluminum rod does the same thing but generates less hydrogen gas. 2.  Completely remove the metal rod and put a plug in its place.  T...
Comments 4
By Denise Allen, Realtor@ Chesapeake, Hampton Roads
(Resh Realty Group)
I am very happy to announce my move to Exit Realty Central in Norfolk, VA.  Exit Realty Central is centrally located to 7 Hampton Roads city.  I am looking forward to working with a full service company,Through the Exit Realty network I can offer more to my buyers and sellers. If you are looking to buy or sell a home contact me and I will show you how Exit Realty Central and I can put our resources to work for you.
Comments 4
By Denise Allen, Realtor@ Chesapeake, Hampton Roads
(Resh Realty Group)
Rents prices rose slightly in Chesapeake and Hampton Roads last year.  Good news for landlords and not so good for renters.  They were up almost 1.5% from April to Oct and the vacancy rate is down to 6.9%.  That probably will go up after new figures are in for the next quarter.  More houses were bought and taken out of the rental market.  That should drive vacancy rates down and rents up.  More investors are being foreclosed on at the same time.  Planned new construction for apartments dropped dramatically as well from nearly 3,800 to 1,500.  That is a really big fall off from April 2009.
Comments 0
By Denise Allen, Realtor@ Chesapeake, Hampton Roads
(Resh Realty Group)
One of the largest homebuilders in Hampton Roads is planning to build a 416-unit condominium community in Western Branch aimed at middle-income homebuyers.  The Dragas Company, based in Virginia Beach, received approval by the Chesapeake Planning Commission to move forward with King's Pointe at Western Branch.  The project will consist of two- and three-bedroom condos that will run between $175,000 and $200,000.         
Comments 0
By Tina Merritt, Virginia Real Estate
(Nest Realty)
On Friday, the United States Coast Guard gave it's approval for a $100 million dollar replacement for the Jordan Bridge.  The existing Jordan Bridge has been closed since November, 2008. The plan is to have the new bridge constructed by the middle of 2011.  The new bridge will also have a new toll of $2.00. The new Jordan Bridge will be 145 feet high.  This is not acceptable to some in the area's shipping industry.  They feel that larger and more modern ships will not be able to clear the new bridge.  The bridge's developer, Figg Bridge, did widen the bridge's horizontal clearance in response to complaints in the original design. According to the Virginia Department of Transportation, building the bridge any higher is not possible due to I-464 and a SPSA plant adjacent to the bridge. Ar...
Comments 0
By Gene Allen, Realty Consultant for Cary Real Estate
(Fathom Realty)
Are you selling a home with at least one major health risk in Chesapeake?  To find out read the following information.  I found it very insiteful and sensible. New research from the National Center for Healthy Housing (NCHH), says that the majority of U.S. families (67%) live in a home with at least one major health risk. Adults 18 and older were recently surveyed by NCHH to gauge their levels of awareness of the common health and safety hazards found in many homes. The results reveal that although most people realize serious health problems may result from the way their homes are built and maintained, they have not taken action to create a healthy and safe home environment for their loved ones.  Because of the responses, NCHH is encouraging families to make healthy housing a priority a...
Comments 0
By Gene Allen, Realty Consultant for Cary Real Estate
(Fathom Realty)
I have heard of everything now.  The santa at the Greenbrier Mall in Chesapeake will text your kids for you Xmas eve.  For $5,49 you can order a package of three texts to arrive before Xmas.  You can do that on the website at www.greenbriermaill.com  For just .99 more, you can customize the text.  I can hardly wait for that.  http://www.geneallen.com Come and see ALL the Homes for Sale in Virginia Beach, Chesapeake, Norfolk, as well as the rest of Hampton Roads. This site is updated daily with new real estate listings, pictures and other information vital to your home search.
Comments 0
By Gene Allen, Realty Consultant for Cary Real Estate
(Fathom Realty)
Farmers in Hampton Roads have taken a big hit from the latest Nor'easter.  It came much too soon for them.  Not only did the rain flood the fields keeping the farmers from finishing the harvest but it also washed away the winter wheat crop for the area.  About the only plant that was done harvesting was the peanut.  Cotton and soybeans took a big hit.  The cotton falls out of the balls making the color decline and the wind beats the soy beans into the ground so they just rot.  The farmers are praying for a lot of sunshine in the next few weeks to help them out. http://www.geneallen.com Come and see ALL the Homes for Sale in Virginia Beach, Chesapeake, Norfolk, as well as the rest of Hampton Roads. This site is updated daily with new real estate listings, pictures and other information v...
Comments 2
By Gene Allen, Realty Consultant for Cary Real Estate
(Fathom Realty)
The Homebuyer Tax Credit has extended and expanded for Chesapeake residents.  It has been extended to include current homeowners.  The following are features of the new bill: •·Deadline for current credit is November 30, 2009. •·Deadline for new and improved credit is April 30, 2010, as long as the home is under contract by that date; deal must close within 60 days. •·Eligibility and amount of new credit: •-$8,000 for first-time homebuyers (those who have not owned a home in the last three years). •-Up to $6,500 credit for homeowners who have lived in the home they are selling, or have sold, as a principal residence for five consecutive years in the past eight.   •·Buyers with income exceeding $125,000 for single and $225,000 for married couples are not eligible.  •·Homes valued at more...
Comments 1
By Tina Merritt, Virginia Real Estate
(Nest Realty)
The Chesapeake Redevelopment and Housing Authority oversees the HOME Investors Partnership Program.  This program assists qualified residents in the City of Chesapeake with the following: Down payment/closing cost assistance to qualified homebuyers for the purchase of affordable single family residences.   Low interest/deferred loans, to qualified homeowners, for improvements to residential structures to correct violations of applicable housing codes and standards   Low interest loans to qualified residential rental property owners for improvements to correct violations of applicable housing codes and standards   Provide homeownership and credit counseling services to homeowners who participate in the Authority’s rehabilitation loan and homeownership programs   Provided financial assist...
Comments 0
By Gene Allen, Realty Consultant for Cary Real Estate
(Fathom Realty)
There are an unknown number of homes built with Chinese Drywall in Virginia Beach and Chesapeake.  Along with all the known problems comes a new one. Insurers are dropping homeowners or not renewing them based on the fact that a home is built with Chinese Drywall.  Homeowners are submitting claims to the insurance companies and they are saying that this is a "pre-existing" condition and they will not pay claims for the damage caused.  Robert Hartwig, president of the Insurance Information Institute, agreed that homeowners policies were never meant to cover "faulty, inadequate or defective" workmanship, construction or materials. Chinese Drywall has been found by state and federal agencies to emit "volatile sulfur compounds," and contain traces of strontium sulfide, which can produce a r...
Comments 2
By Dennis Blackmore
(Creed Realty)
Thank you to all my lVirginia Beach, Chesapeake, Norfolk, Suffolk, and Hampton Roads loyal real estate clients and their kind remarks below………. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Image via Wikipedia Best Real Estate Agent! Not really, but I do care very much about every client and friend.....read on: When we became serious about buying a house in the Hampton Roads real estate area, I really wanted to work with a top notch real estate agent. This was our first home buying experience, and since so much of the process was new and strange to us we were very dependent on an agent that really knew the ropes. We had met with two other...
Comments 0
By Robin Gauthier, I have the Key to your NextHome
(NextHome Tidewater Realty)
1121 Norcova Ct Chesapeake, VA Click For Listing Website Click For Interactive e-Tour Welcome to Norcova Court. The location of this home cannot be beat. One can access the Greenbrier shopping district within 5 minutes. This home is spotless with 3 spacious bedrooms and 2.5 bathrooms. There is upgraded flooring of tiling, wood laminate and berber carpet throughout this home. The eat in kitchen is large and bright with skylights. The backyard is large with a huge deck. The master bedroom has a sitting area and very spacious closet. Don't delay. This one will not last long. MLS# 0928198 $324,900 3 Bed, 2.5 Bath 1121 Norcova CtChesapeake VA, 23320 Robin Gauthier EXIT REALTY SPECIALISTS 757-739-7754 RobinSellsHomes@cox.net
Comments 0
By Gene Allen, Realty Consultant for Cary Real Estate
(Fathom Realty)
Remember, the clock is ticking for first time home buyers in Chesapeake.  The American Recovery and Reinvestment Act of 2009 included an enhanced First-Time Homebuyer Federal Tax Credit, a housing stimulus that provides a maximum tax credit of $8,000 for first-time home purchases. The credit expires November 30, and given the time it takes to find a home, secure financing and close on a property, potential buyers should act NOW.  Qualified first-time buyers must purchase and reside in the principal residence before December 1, 2009. Other eligibility requirements apply, including income limits, but individuals who exceed the limit may be eligible for a partial credit. Buyers should seek advice from a professional tax advisor for specific tax calculations. Since its inception earlier thi...
Comments 0
By Sean Schroeder, Century 21 top producers
(Century 21)
Attention Home Buyers!  Open House in RiverWalk   12pm to 2pm  Food and Drink! Are you looking for a home in Chesapeakes' prestigous Riverwalk community?  I have a superb listing that you are going to love! This is a two story attached unit with 3 Bedrooms and 3 Full Bathrooms.  This home features an impressive wooded view from almost every window, and an open floor plan complimented by a large loft over looking the living room. Enjoy a relaxing morning coffee, on their very own second floor deck, while taking in the beautiful scenery that this unit has to offer.   As a owner in Riverwalk, you will have access to the pool, clubhouse private parking and much more. Open House date:  9/19/2009From 12am to 2pm Where:  609 Sail Fish Quay, Chesapeake Va. 23320Get Directions:   Google Map   --...
Comments 0