Thinking about buying a home in Hampton Roads? Congratulations! You’ve chosen very well. To make that transition as smooth as possible, we’ve got some helpful hints and tips.
- Buy the house you love when you love it. If you’re waiting for the “best time” to buy, you’ll miss out on a great house in Norfolk, a great neighborhood in Virginia Beach, a great school district in Chesapeake. The real estate market is cyclical, but not in any way that makes buying a house in August any better than buying one in December. If you see a house, you like, make it your home before someone else does.
- Get Pre-approved for your home loan. The biggest mistake new home buyers make is confusing pre-qualified with pre-approved. Being pre-approved means you’ve shared your financial information with your bank or lending institution and you’re clear on what you can afford. This also means that if you can afford to live near the Oceanfront, your Realtor can seek out homes that fit all of your sand-between-the-toes needs.
- Don’t play with credit cards. If you’re getting ready to buy a house, the worst thing you can do is start opening credit cards and filling rooms you don’t own yet. As a home buyer, you’re going to have people evaluating your financial stability so keep your money in your pocket until after the sale.
- Work with a professional realtor. You may think you’re saving money by going it alone, and if you have a ton of free time on your hands you may be correct. But consider this: a professional realtor does more than facilitate the sale once you’ve found your dream home. The biggest value they offer is unearthing any hidden issues with your home before you’re committed to it. A professional realtor knows everything about your home, your neighborhood, your school district, your tax assessments, any fees, any liens, property disputes and more. By working with a professional you get your own personal advocate.
Follow these tips and you’ll set yourself up for smooth sale-ing!
We are happy to announce that Nancy Chandler Associates, top real estate agency for Norfolk, Virginia Beach and all of Hampton Roads, was voted one of the best Real Estate Services in Norfolk by readers of The Virginian-Pilot. NCA took the Bronze Awards for Norfolk and Chesapeake for the 2010 poll. We can’t thank you enough for your votes and your support. We love the Hampton Roads region and for nearly forty years have devoted ourselves to helping new and established residents find affordable housing that suits their needs. Going into mid-2010 and 2011, and beyond, we will continue to help you succeed in buying homes in Norfolk and Virginia Beach, while assisting you with real estate needs like guidance for loans and tax credits, rental information, and other concerns.
We are pleased to announced the launch of the Nancy Chandler Associates new and improved website!
Take a look at the new NancyChandler.com today an try out our customized home searches. We’ve built up the resource sections, too, so you can get information on buying and selling a home, home loans for Virginia, and moving tips.
FOR IMMEDIATE RELEASE
Nancy Chandler Associates is proud to congratulate Lisa Chandler on her recent recognition as a 2010 YWCA Woman of Distinction. Chandler was recognized along with eleven other women in the Hampton Roads area who have made significant contributions to the community through professional activities and volunteer efforts, while exhibiting a dedication to eliminating racism and empowering women. Lisa Chandler was honored this year in the Volunteerism category.
The twelve women listed for this honor include:
Arts – Donna F. Smith
Business – Suzy Kelly
Communications – Barbara Hamm Lee
Education – Dr. Ella Ward
Finance – Kathryn Shelton
Government – Paula Miller
Law – Amy Harman
Medicine – Dr. Cynthia Romero
Military – CDR Margaret Hoskins
Nonprofit – Edith White
Science/Technology – Catherine Giordano
Volunteerism – Lisa Chandler
Lisa Chandler is the Executive Vice President of Nancy Chandler Associates Realty Company. She is a member of three professional organizations and ten community service organizations. Lisa is Chairman of the Norfolk Education Foundation, Chairman of Norfolk NATO Festival, and Vice Chair of the Crispus Attucks Cultural Center. She has a strong belief in community involvement and a passion for volunteering. She serves on the Board of Directors at Heritage Bank and is a Planning Commissioner for the City of Norfolk. In her personal life, Lisa enjoys spending time with her husband Webster and their two daughters, Whitney and Brynn.
On the Web: www.NancyChandler.com
4536 LARKIN ST, Norfolk VA 23513-3962
For under $200K, you can live in one of the most accessible neighborhoods in Norfolk. You’re close to the airport, downtown, and Virginia Wesleyan College for championship Marlins basketball. Craving a day at the beach? Just hope on Northampton and head for Chick’s shore. Interested in a day on the Eastern Shore for delicious jimmies and bird watching? You’re not far from the Chesapeake Bay-Bridge Tunnel, either.
This lovely two-bedroom home in Sherwood Heights in Norfolk is located in a beautiful neighborhood and features a huge backyard for play and relaxation. The home may require some fixing up…it’s perfect for a first-time buyer looking to shape a home into their vision.
Contact Nancy Chandler Associates’ own Annell Lemmie today at (757) 470-1314 or visit us online to learn more about this amazing home for sale in Norfolk.
There’s no better time than now to check out the available properties in the historic Ghent district. Nancy Chandler Associates has listed a beautiful condo on Granby St. You’re just a short distance from the Naro Theater, shops and dining on Colley Avenue, and the Chrysler Museum. The unit comes with garage parking for two cars and a balcony. If you’ve been looking to move to Norfolk, this is the ideal location for convenient access to the bases, EVMS, and downtown.
Contact Katie Fraim Cline today at (757) 331-0022 for more information on this condo and other available homes in Norfolk.
By Christy Barritt
For the second year in a row, the St. Jude Dream Home is in Chesapeake.
On Nov. 30, Summit Construction and representatives from St. Jude Children’s Research Hospital broke ground for the area’s 10th annual home giveaway.
This year’s home is located in the Chapel Hill Estates neighborhood in Hickory and is valued at approximately $515,000.
The house, which is being built by Summit Construction, will feature four bedrooms, three bathrooms, a gourmet kitchen, sunroom, upgraded flooring and a two-car attached garage.
“It’s going to be beautiful,” said April Warren, senior event marketing representative for ALSAC/ St. Jude. “We’re really excited this year to have a bedroom downstairs. That’s a change from the houses we’ve had in the past and a great addition.”
The $100 tickets to win the Dream Home Giveaway will be available beginning Jan. 19 at such locations as Value City Furniture, TowneBank, Judy Boone Reality, Nancy Chandler Associates, and Ferguson Bath and Kitchen Gallery.
The winning ticket will be drawn May 2.
All the proceeds for the event go to St. Jude Children’s Research Hospital, a pediatric cancer research center where families never pay for treatment not covered by insurance.
“The Dream Home Giveaway gives people a chance to enter into a raffle and win this half-million dollar house and 20 other prizes all valued at $1,000 or greater,” said Warren. “Also, at the same time, they’re supporting the kids at St. Jude Children’s Research Hospital.”
For more information, visit www.stjudedreamhome.org.
By Staci Dennis
Correspondent
CHESAPEAKE
Rob Kinser is fighting childhood cancer by building a house.
Granite counte rs, hard wood floors and 9-foot ceilings are among the tools he ’s utilizing to bring attention and financial help to those who need critical medical care.
“Everyone can do their part,” he said. “We can all work toward finding a cure.”
Kinser, president of Chesapeake-based Summit Construction Corp ., is building Hampton Roads’ 10th annual St. Jude Dream Home . The company started construction on the 3,528-square-foot dwelling in early November and held a ground-breaking ceremony Nov . 30.
“When we first signed on for this project, I was a little skeptical,” Kinser said. “But after visiting St. Jude Hospital and seeing how they function, I am a firm believer.”
St. Jude Children’s Research Hospital, in Memphis, Tenn., is the only pediatric cancer research center where families never pay for treatment not covered by insurance. Families without insurance are never asked to pay.
Raffles tickets for the house are $100 and will go on sale Jan . 19. Chances of winning a prize are one in 500, said April Warren, senior event marketing representative with the fundraising arm of St. Jude. No more than 10,500 tickets will be sold.
This is the 10th time St. Jude has worked with area contractors to build a dream home in Hampton Roads . Twenty-six other locations across the U.S. hold similar programs.
The grand prize is the house, located in Chesapeake’s Chapel Hill Estates . The new neighborhood, when complete in two to three years, will have 137 homes. Chapel Hill Development Corp . donated the $140,000 lot on which the giveaway home is being built.
“It’s a great neighborhood in a wonderful location,” said Chellie Burton , a Realtor with Nancy Chandler Associates. ” It’s an honor to have the St. Jude home as part of the neighborhood.”
Other prizes include a $1,000 gift certificate at Value City Furniture, fresh flowers for one year, a $1,000 Target gift card, a laptop computer, a weekend getaway and a $1,000 gift certificate to The Full Cup, among others.
Nancy Chandler Associates is happy to have assisted The Virginian-Pilot in this recent article on Virginia Beach real estate.
Hampton Roads home sales up 28 percent over last October
By Josh Brown
The Virginian-Pilot
© November 17, 2009
First-time buyers rushing to take advantage of the now-extended federal tax credit continued to drive home sales in Hampton Roads in October, according to a report released Monday.
Last month, sales volume was up 2.3 percent over September and 28.1 percent over October 2008, according to Real Estate Information Network Inc. The Virginia Beach-based multiple listing service reported 1,107 homes in the region sold in October, compared with 864 a year ago.
October’s was the biggest year-over-year gain for 2009, and it was the fifth month of such increases since home-sales volume turned positive in June. The rebound in home sales stands in stark contrast to the homes market a year ago, when sales were plummeting amid deteriorating economic conditions.
The federal tax credit for first-time homebuyers has buoyed sales across the country. Congress recently extended the $8,000 tax credit, originally scheduled to expire this month, through April and expanded the credit to include $6,500 for home-owners who have lived in their home for at least five years and want to buy a replacement primary residence.
“The tax credit, no question about it, has had a positive impact on the market,” said Ron Pearman, regional vice president for Long & Foster Real Estate. O f a sampling of homes that closed last month with Long & Foster, 70 percent were first-time buyers, Pearman said.
Other local brokers said Monday that the tax credit has accounted for as much as half of their recent sales.
“It’s given a shot in the arm to help revitalize the housing industry,” said Peter Shaw, a business and economics professor at Tidewater Community College. “The question is, when you remove that tax credit, what state will the market be in? Sooner or later the industry has to stand on its own feet.”
Despite increased sales activity, home prices have continued to fall. Real Estate Information Network reported that the median price for existing homes in October was $208,000, down 3.3 percent from a year ago. The median is the point at which half the prices are higher and half are lower.
Part of that decline in median price can be attributed to the swell in sales of foreclosures, which accounted for 19 percent of the closings last month, according to the multiple listing service. That’s compared with 9 percent a year ago.
The other part of the decline in median price could be tied to the tax credit itself, which has encouraged home sales primarily at the lower-priced ranges of the market.
Web Chandler, president and principal broker at Nancy Chandler Associates, said the extension of the tax credit will remove the sense of urgency for first- time buyers in the next few months.
“During the holiday season there is always a traditional slow down in the sales market,” he said.
The report also showed that the number of homes on the market last month in Hampton Roads fell slightly. In October, there were 13,776 homes on the market, compared with 14,029 in September. Meanwhile, the average time on the market for existing homes in Hampton Roads also fell slightly to 83 days last month, compared with 85 days at the same point last year.
The inventory and market time figures include the Peninsula and outlying regions such as Williamsburg and northeastern North Carolina.
Several brokers said it will be a while before the overall market inventory is brought back down to a reasonable level. The looming fear for them is the jobless rate, which was 6.7 percent in September, up from 4.3 percent a year earlier.
“The wild card in all of this is the unemployment rate,” Shaw said. “If the unemployment rate keeps rising going into the winter and the spring months, I really don’t see any great strides in the housing market.”
Josh Brown, (757) 446-2318, josh.brown@pilotonline.com
