Housing Market (Virginia Beach, Suffolk: comparable sales, for sale, townhome)

[meeshee1]

We're selling our townhome at the end of this month/1st of December, and I'm curious as to how the housing market looks on the Peninsula to you all? My realtor says December is her busiest month, so I am trying to be positive. It does seem like there are more buyers than homes, which could be good for sellers. Anyone recently sell a home or do you have one on the market? How's the fish, are they biting? Thanks in advance

[Isabella Tiger Moth]

The houses in my neighborhood aren't selling. It's a problem of people not being able to get what they need for their homes and taking them off the market. The bubble burst and left a lot of people underwater. If your home is priced well (meaning to meet current market values) it should sell easily. Supposedly, it's a seller's market (meaning there are fewer houses on the market than people looking to buy them), but this only works in your favor if you can afford to sell at the price people are willing to pay. Apparently, my neighbors can't.

Good luck to you. It's tough to be ready to move on only to find out you can't. I hope things go well for you.

[meeshee1]

Originally Posted by Isabella Tiger Moth

The houses in my neighborhood aren't selling. It's a problem of people not being able to get what they need for their homes and taking them off the market. The bubble burst and left a lot of people underwater. If your home is priced well (meaning to meet current market values) it should sell easily. Supposedly, it's a seller's market (meaning there are fewer houses on the market than people looking to buy them), but this only works in your favor if you can afford to sell at the price people are willing to pay. Apparently, my neighbors can't.

Good luck to you. It's tough to be ready to move on only to find out you can't. I hope things go well for you.

Thank you! And you summed up my situation exactly... I will be selling at a loss, however we need to sell to move to another state and I'm prepared to pay even though it makes me sick to think about it. My realtor said the same thing that there are more buyers than homes right now, so I am hoping if it's priced right, I can find a buyer quickly. Crossing my fingers!

[RosemaryT]

I just purchased a home in Northern Suffolk, and it had two offers on it within 24 hours.

Perhaps there are just too many variables to make a sweeping pronouncement on values. :/

[meeshee1]

Originally Posted by RosemaryT

I just purchased a home in Northern Suffolk, and it had two offers on it within 24 hours.

Perhaps there are just too many variables to make a sweeping pronouncement on values. :/

Probably I am not too worried about values as much as the probability of it selling quickly. Congrats on your new home!

[rtandc]

I still owned a home in Va Bch and decided to sale it as I have no plans to return to the area. I listed it for sale with a local realtor back in May. It sold in 3 days after multiple offers all above asking price. I'm sure the market has cooled off a little this close to the holidays but if your house is updated in move it condition and priced right it should sell quickly.

[meeshee1]

Originally Posted by rtandc

I still owned a home in Va Bch and decided to sale it as I have no plans to return to the area. I listed it for sale with a local realtor back in May. It sold in 3 days after multiple offers all above asking price. I'm sure the market has cooled off a little this close to the holidays but if your house is updated in move it condition and priced right it should sell quickly.

Wow, that's great! Yeah, my realtor told me June and December were actually her best months, which I find hard to believe, but I will cross my fingers...

[fmac]

I had a listing in Virginia Beach go under contract in 6 days several weeks ago with multiple offers. If a home is priced right, it should not sit for a long time. Sometimes that will happen however if the school district is perceived to be less than optimal. Your Realtor can tell you average days on the market for your size home and location as well as average price based on comparable sales. Good luck!!

[meeshee1]

Thanks! I think it's priced really well in comparison to the others in the neighborhood, and we've done a lot of upgrading so I am crossing my fingers My main concern is the time of year with the holidays, but I think if someone is really looking for a home, the time of year shouldn't matter as much. I assume it's all about finding the right buyer...

[lovnova]

Originally Posted by meeshee1

We're selling our townhome at the end of this month/1st of December, and I'm curious as to how the housing market looks on the Peninsula to you all? My realtor says December is her busiest month, so I am trying to be positive. It does seem like there are more buyers than homes, which could be good for sellers. Anyone recently sell a home or do you have one on the market? How's the fish, are they biting? Thanks in advance

First, good luck selling your townhome.

I have to laugh at you realtor saying December is her busiest month. I've never thought of Dec. being a desierable time to sell. I'm sure the "busiest month" changes client to client.
Maybe she means, shes so busy trying to sell something in December.