What's up with the current houses on the market here? (Chesapeake: sales, foreclosure)

[Steph22679VA]

Whoa, that's a lot of house for the money. Indy is cold, but I think someone brought up the comparison because a member here had considered moving there. I think everyone is just making a point that we are really getting ridiculous here with housing when job opportunities are slim and the money stinks! That would definitely be at least $700-800k here.

Another crazy point about that house is that it's been on the market for 294 days, so maybe they should consider lowering their price... or maybe they're some of those delusional sellers ;-) So likely someone will get that house for much less than $355k at this point.

I know when I was looking to go to grad school at Auburn University in Alabama, I could have bought a a brand new, all brick ranch with about 2,400 sq ft and all upgrades (stainless, jetted tub, hardwood/tile, etc) with a big yard for about $215k. This was only about a year ago.

[Erma]

Originally Posted by Steph22679VA

Whoa, that's a lot of house for the money. Indy is cold, but I think someone brought up the comparison because a member here had considered moving there. I think everyone is just making a point that we are really getting ridiculous here with housing when job opportunities are slim and the money stinks! That would definitely be at least $700-800k here.

Another crazy point about that house is that it's been on the market for 294 days, so maybe they should consider lowering their price... or maybe they're some of those delusional sellers ;-) So likely someone will get that house for much less than $355k at this point.

I know when I was looking to go to grad school at Auburn University in Alabama, I could have bought a a brand new, all brick ranch with about 2,400 sq ft and all upgrades (stainless, jetted tub, hardwood/tile, etc) with a big yard for about $215k. This was only about a year ago.

Florida's housing prices are very low. We priced a house similar to ours, just for S & G in Ponte Vedra, which is on the water between Jax and St. Augustine. With factory and city jobs being cut down there, people are trying to off load before it gets hard for them to keep up the mortgages.

[Steph22679VA]

Hello group! Just updating here to let everyone know who followed this thread that we finally have a ratified contract!! We are very happy and love what we have a contract on. We had the home inspection yesterday and everything was nearly perfect, so full speed ahead! We are hoping to close within a month. Stephanie

[citydweller]

Congratulations! So which area did you end up deciding on?

[Steph22679VA]

Originally Posted by citydweller

Congratulations! So which area did you end up deciding on?

Thank you!! We ended up going with a property off of Shore Dr We're only a couple of blocks from the bay and it's in a nice area. We also met some neighbors yesterday and they were our age (early 30's) and seemed really fun.

I am soooooooooooo glad that whole house hunt is over, I don't think I could take another second. We're just crossing our fingers nothing comes up to delay this process! I'll definitely post here as I get updates on where we are in the process!

[Freefreq]

Pictures ??? of the big investment ??

[Erma]

Originally Posted by Steph22679VA

Thank you!! We ended up going with a property off of Shore Dr We're only a couple of blocks from the bay and it's in a nice area. We also met some neighbors yesterday and they were our age (early 30's) and seemed really fun.

I am soooooooooooo glad that whole house hunt is over, I don't think I could take another second. We're just crossing our fingers nothing comes up to delay this process! I'll definitely post here as I get updates on where we are in the process!

Awesome! You will absolutely enjoy living there! Come on down to the Lesner Bridge and beach fish with us!

[gallowsCalibrator]

Steph, congratulations on the home! Good to hear that your search is over.

Originally Posted by Freefreq

Pictures ??? of the big investment ??

I don't think anybody should post pictures of their home. There's too many weirdos out in the world. This is a public forum.

Originally Posted by Erma

Awesome! You will absolutely enjoy living there! Come on down to the Lesner Bridge and beach fish with us!

City-Data fishing trip?

[Erma]

Originally Posted by Rita Mordio

Steph, congratulations on the home! Good to hear that your search is over.



I don't think anybody should post pictures of their home. There's too many weirdos out in the world. This is a public forum.



City-Data fishing trip?

Yes, I totally agree about posting pictures of your home, even your kids or family pets. The world today is just not as honest as it used to be...unfortunately.


Hey, fishing is good for the soul. Come on down and work on your tan! We went to the RV show yesterday...OMG, the prices are awesome and there's a 30 footer we fell in love with. Me may have a new summer home next year!

[PCS Advisor]

I work with a lot of military that are relocating to and from the area and I have my own take on the home prices in the Hampton Roads area. I am prior mil and my wife is still active duty and we have lived in several different markets. One observation that I have made is the fact that there are a lot of military who have orders or are about to get orders very soon. Some of these families came in before the housing market peaked and others came in at the very top and ended up paying more than there houses are now worth in today's market. I think one person asked earlier why the market here is still commanding higher prices for homes compared to rest of country. I primarily feel it is because of the military and the fact that there is always going to be transient families coming in and out of the area. The families that moved here around 05' and that have orders are going to have to sell there homes at just about what they paid for them. This is going to vary a littlefrom area to area and it depends on where you are located but I am seeing it more and more with the houses that are on currently on the market. I would say that there are a big majority priced just high enough to cover the buyers closing costs and other fees.
There are a lot of bank owned properties that are starting to show up on the market as well. If your patient and your willing to take your time you can find some values on some homes out there. The only drawback is that banks are terrible negotiators and they love to take their time on contracts and negotiating.