what price is considered "affordable" rent in Virginia Beach? (Hampton: foreclosures, rental homes)

[lovesMountains]

So what's the least amount a newcomer should plan to spend to be in a fairly safe, nice area of Virginia Beach?

[chesapeakesim]

Originally Posted by lovesMountains

So what's the least amount a newcomer should plan to spend to be in a fairly safe, nice area of Virginia Beach?

Probably $900 - $1000 a month for a one bedroom would get you in a safe area.

[lovesMountains]

Originally Posted by chesapeakesim

Probably $900 - $1000 a month for a one bedroom would get you in a safe area.

Thank you so much. What about a 2 bedroom though? And what about rental homes? Nothing fancy, just safe. Would rents be cheaper in Hampton Roads?

[telemonster]

You can try to negotiate. There is an oversupply of housing, so there are lots of places empty. The old Realtor lies about there not being enough housing / have to jump in before it's all gone was just part of the speculative mania.

I think you could come away with a 2bd/2bath for $1000 in a good area. Hampton Roads (the 7 ciites and other counties) is a very large region. Move near your job.

[Spazkat9696]

In Va Beach you're not going to find a good 2 bed room for 1000$. More like 1200+.

[lovesMountains]

Originally Posted by telemonster

You can try to negotiate. There is an oversupply of housing, so there are lots of places empty. The old Realtor lies about there not being enough housing / have to jump in before it's all gone was just part of the speculative mania.

I think you could come away with a 2bd/2bath for $1000 in a good area. Hampton Roads (the 7 ciites and other counties) is a very large region. Move near your job.

That would be my preference - to live near work, thanks for the info!

[lovesMountains]

Originally Posted by Spazkat9696

In Va Beach you're not going to find a good 2 bed room for 1000$. More like 1200+.

That is really disturbing to hear - in Charlotte you can get some very nice 2 and 3 bedroom apts for $850! Dang, those rents are more than my mortgage payment

[Spazkat9696]

We just bought a house Our rent was 1195.00~not a nice area. Our mortgage is only 1300.00 for a great house in a good neighborhood.

[chesapeakesim]

Originally Posted by lovesMountains

That is really disturbing to hear - in Charlotte you can get some very nice 2 and 3 bedroom apts for $850! Dang, those rents are more than my mortgage payment

Damn, you are leaving Charlotte for Hampton Roads??? Just curious why you would want to move. Charlotte is a far better city and much cheaper as you can see. Unless you absolutely have to move I would stay in Charlotte.

[telemonster]

The good news is housing prices will continue to fall. The banks are sitting on LOTS of foreclosures that they haven't put on the market. When they do, it will flood the market with more inventory. As I understand it, many of the mortgage companies may start to go forward soon with all the people that aren't paying their mortgages. Lots of people are living free, because the mortgage companies can't keep up with all the people behind, or don't wish to show the losses, or are hoping that Obama somehow gives their deadbeat customers help.

In terms of rent, look around. I'm seeing places offering 1 month free specials and what not. You never used to see that. On the commercial side, I just negotiated a place down from $1600/month to $1000/month.

In all honestly, Hampton Roads isn't a great place. There is interference with the housing market from military with housing allowances, and the fact that so many of the residents probably aren't very intelligent and were willing to get funky loans to overpay.