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Old 04-06-2010, 09:03 AM
 
3 posts, read 10,078 times
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We'll be moving to VA Beach soon and we've already done some house hunting in this area. We visited some neighborhoods over and over again (at different day times) and we always come back to the same areas.
However, as soon to be home-buyers we're a bit afraid about buying in a town we don't know yet.
Does anyone have some input on these neighborhoods: Salem, Pine Meadows, Ocean Lakes, Lynnhaven Woods, and Glenwood? We ruled out Castleton because of the jet noise (seems to be their breaking point).
We're looking for a safe, family-friendly neighborhood that isn't too far from everything you need (grocery stores, schools, etc) and that will hopefully maintain its value for future resale. (If one could just forsee this!)

Thanks!
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Old 04-06-2010, 10:09 AM
 
520 posts, read 1,495,876 times
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Originally Posted by Sail123 View Post
everything you need (grocery stores, schools, etc) and that will hopefully maintain its value for future resale. (If one could just forsee this!)
Thanks!
As home values have increased over 100% in 6 years or so in Virginia Beach, the likelyhood of anything being worth more tomorrow is kind of dim. The incomes haven't gone up nearly enough to match the increase in cost of living, debt has filled in the gaps. The gov't is doing what they can to falsely prop up the housing prices, but at the end, you can't fight gravity. Lower home prices would be great for America, but the gov't won't acknowledge this. So they continue to try to respike the punchbowl, to reignite America into a world where our entire existence is morons selling each other pressboard boxes at ever escalating debt loads, with little true useful results.

Housing in the region is grossly overpriced given the job opportunities, but that doesn't stop people from overpaying. The majority of the good paying jobs are directly related to gov't spending (gov't contractors, gov't GS positions, etc.) The future kind of hangs on that, I guess.

As far as neighborhoods, the higher the price the less "undesirables."

Some of the nicer neighborhoods in Virginia Beach suffer from not so nice neighborhoods next to them.
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Old 04-07-2010, 05:25 AM
 
1,477 posts, read 5,463,629 times
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Quote:
Originally Posted by Sail123 View Post
We'll be moving to VA Beach soon and we've already done some house hunting in this area. We visited some neighborhoods over and over again (at different day times) and we always come back to the same areas.
However, as soon to be home-buyers we're a bit afraid about buying in a town we don't know yet.
Does anyone have some input on these neighborhoods: Salem, Pine Meadows, Ocean Lakes, Lynnhaven Woods, and Glenwood? We ruled out Castleton because of the jet noise (seems to be their breaking point).
We're looking for a safe, family-friendly neighborhood that isn't too far from everything you need (grocery stores, schools, etc) and that will hopefully maintain its value for future resale. (If one could just forsee this!)

Thanks!
Well if you ruled out Castleton because of the jet noise you might as well rule out Pine Meadows, much of Ocean Lakes and also Lynnhaven Woods because the jet noise is just as bad in those neighborhoods.. Salem and Glennwood are both very large neighborhoods? Some streets are ok others are iffy.....IMO if you are buying a home right now you are crazy to expect it to maintain its value
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Old 04-07-2010, 07:40 AM
 
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Thanks for your reply, rtandc.
We had checked out the area by the golf course in Glenwood. You're right, it's a large neighborhood and it changed a bit from street to street.
As far as the noise, it seemed much worse in Castleton as the jets were breaking right above us. We didn't notice it as much in the other neighborhoods.

I guess home value is always a gamble.. Have the prices gone up a lot over the past 2-3 years? It seemed to have stayed relatively constant compared to other places.
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Old 04-07-2010, 04:40 PM
 
Location: Va Beach
3,506 posts, read 12,557,067 times
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Originally Posted by Sail123 View Post
Thanks for your reply, rtandc.
We had checked out the area by the golf course in Glenwood. You're right, it's a large neighborhood and it changed a bit from street to street.
As far as the noise, it seemed much worse in Castleton as the jets were breaking right above us. We didn't notice it as much in the other neighborhoods.

I guess home value is always a gamble.. Have the prices gone up a lot over the past 2-3 years? It seemed to have stayed relatively constant compared to other places.
No, actually, they have dropped and the finance rates are lower. Many are refinancing at the 4.25% rate...lowest in a very long time from what I hear.
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Old 04-08-2010, 06:34 AM
 
1,477 posts, read 5,463,629 times
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As far as the jet noise you can check the flight pattern maps from the Oceana jet base web site...sorry don’t have the link handy....but also remember that they do not have to follow those patterns, they have the right to the whole sky and can fly where ever they wish…..Jet noise is the biggest complaint from residents in Va beach so keep that in mind when looking at homes, don’t listen to your real estate agent about how the jet noise may or may not be for a certain neighborhood he/she is just going to give you a number……...talk to the residents living in the neighborhoods you are interested in and see what they have to say….

Home prices are all over the board in Va Bch, so trying to look at neighborhood comps are pretty much a joke right now.....Va Beach did see a large increase in home values pretty much the same time many other places did across the USA…but due to several reasons ( military, resort town etc etc) the reset on home prices are lagging in Hampton Roads compared to many other areas….. Locally some neighborhoods in Va Beach have really not seen much of a price decrease but most neighborhoods have seen their homes prices drop 10-20% or more in price over the last two years......A big difference compared to other places across the country that have seen much larger drops in value.

What will the prices do locally when the gov bail out money dries up and rates start to increase is a no brainer, prices will have to go down …....Also with the large number of homes for sale in Hampton Roads (last I checked it was over 15K homes) along with an increasing number of bank owned homes and distress sellers flooding the market will also cause the market to continue to drop....Now put those two together and the million dollar question is, how much more will the local market drop? Who knows that is the risk you have to take if you want to buy a home in todays market..Some experts say only another 5-10 percent, others say the worst is yet to come and expect the local market to take a major hit of 25-50% yet.....

Last edited by rtandc; 04-08-2010 at 06:43 AM..
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Old 04-08-2010, 07:40 AM
 
29 posts, read 62,814 times
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I agree wholeheartedly with all that Telemonster said. As someone who bought in Va Beach in 2006, when the market was super high, this is not good news, but that's the way it is. I may be selling my house in 10 years for what I paid for it in '06! Oh well. Still better than renting I suppose. I least I get some money back at the end of the road.

Have you looked at Cypress Point? Prices seem lower there & there's no jet noise.
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Old 04-08-2010, 10:37 AM
 
520 posts, read 1,495,876 times
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You can always strategically default.
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Old 04-08-2010, 03:15 PM
 
29 posts, read 62,814 times
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Telemonster, can you say more about what you mean by, "strategically default?"
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Old 04-09-2010, 04:14 AM
 
Location: Virginia Beach
162 posts, read 750,894 times
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I live in Pine Meadows and love this neighborhood. There is no HOA, therefore no covenants, yet everyone for the most part keeps their houses up pretty nice. There is one house that has some strangeish looking yellow paint on the trim & garage when you turn into the neighborhood from Old Dam Neck Rd, but that's all I've seen that makes me grimace a little. The yards are many different sizes, which I love. We are in a rancher with a nice sized yard. I am not a fan having a house so close to yours that you can practically touch both at the same time! This neighborhood was perfect for us.

That being said, there is definitely jet noise here. It's not low and overtly loud every single day, but there are times when it's definitely louder than other days. It depends on what runway they're using and what type of exercise(s) they're doing. We've lived here since 2005 and it doesn't bother me. I actually like it. My neighbor hates it. To each his/her own.
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