Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Virginia > Hampton Roads area
 [Register]
Hampton Roads area Chesapeake - Hampton - Newport News - Norfolk - Portsmouth - Suffolk - Virginia Beach
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 08-01-2009, 09:21 AM
 
13 posts, read 37,517 times
Reputation: 14

Advertisements

my family is looking into moving back to virginia beach and we are interested in buying a foreclosurer to see if we could find a good deal on a single family property is there such a market or are the prices stll high. Any information would be great.
Reply With Quote Quick reply to this message

 
Old 08-01-2009, 10:17 AM
 
239 posts, read 633,054 times
Reputation: 73
There are some foreclosures here, but no where close to markets like Florida, Nevada, California, etc. Prices still remain high, we have not had the huge drop that many places have. Personally, I think you would be much better to rent, I would not want to be buying now unless you plan on living in the same place for 7 years or more.

Also, why would you want to move back to VA Beach???
Reply With Quote Quick reply to this message
 
Old 08-01-2009, 10:36 AM
 
13 posts, read 37,517 times
Reputation: 14
we used to live there we now live in Memphis tn not many places worse than here.
Reply With Quote Quick reply to this message
 
Old 08-01-2009, 05:15 PM
 
1,790 posts, read 6,515,154 times
Reputation: 1003
It might be a good time to buy if you can get a good deal however as chesapeakesim stated you may only want to buy now if you are here for the long term.
Reply With Quote Quick reply to this message
 
Old 08-02-2009, 05:58 AM
 
Location: Williamsburg
1,194 posts, read 3,975,688 times
Reputation: 424
In a check of our local MLS I found approx 180 foreclosures in the Va Beach market, 93 in Chesapeake, and 811 in the Hampton Roads area. Some are great values others are not.
I don't want to argue if it's a good time to buy. Thats been done enough.
Reply With Quote Quick reply to this message
 
Old 08-02-2009, 02:43 PM
 
1,477 posts, read 6,016,416 times
Reputation: 1116
Most of the move in ready foreclosures are not priced much below regular resales, there are some great deals out there if you are willing to rehab the home
Reply With Quote Quick reply to this message
 
Old 08-02-2009, 04:30 PM
 
520 posts, read 1,626,102 times
Reputation: 86
There was just an article of how the foreclosures are understated.

You must remember, that the good deals will probably never make it to the public eye. All that the public gets a shot at is the left overs. Inside deals normally claim the good stuff. I don't know about this market, but I've heard of tactics such as mis-describing the property and such by the Realtor in charge of REO so their friends could get the hook up first.

It might be the time to try to find a builder + land and come in under the price of foreclosure? Part of the high cost was land. So if you can find land cheap, that might be half the battle.

Granted, I've only looked at craigslist and there are some real dumps on there priced high.
Reply With Quote Quick reply to this message
 
Old 08-04-2009, 06:51 PM
 
13 posts, read 37,517 times
Reputation: 14
thank for all the info
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Virginia > Hampton Roads area

All times are GMT -6. The time now is 06:01 AM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top