Showing posts with label Chesapeake. Show all posts
Showing posts with label Chesapeake. Show all posts

Tuesday, March 24, 2015

Chesapeake Living: The Herbal Bath and Body Book || Home By Design


Enjoying Chesapeake Living

Life is too short.   Part of enjoying life in Chesapeake is knowing how to enjoy oneself at home.

Though the Beach is near by and ample athletic venues including numerous road races and challenge runs are readily available as are theatre, college athletics, pro hockey and so much more are minutes from one's home in Chesapeake, staying put just times feels good.

And if you are in the mood to really feel good, you must read this latest article in my Home By Design magazine.  You will find the perfect way to "self soothe" yourself in the comfort of your own home.


New Weekly Article - The Herbal Bath and Body Book || Home By Design

Monday, September 29, 2014

Why Chesapeake?

Why Chesapeake?

In working with buyers, it isn't unusual for relocating buyers to understand the advantages of living in Chesapeake versus the other cities in Hampton Roads.

Chesapeake boast an active but laid back suburban feel that is common to many major markets.   Though Chesapeake lacks the vibrancy of the Virginia Beach Ocean Front, Chesapeake boasts many fine neighborhoods with large lots and executive homes mixed with modest priced homes, townhomes and condos.  Without a doubt, single family housing is predominant in Chesapeake.
It is the city that "you come home to after a long day's work".

But you rarely stay home, if you have kids or desire physical activity!!   A host of baseball, soccer, volleyball, softball and basketball teams, traveling teams and school teams will keep the kids busy every night if you want it so.  Then the numerous bike clubs that fill the roads with serious bicyclists every Saturday morning(I am sure they are out daily!!).  

With quiet streets and winding neighborhood baths, runners and walkers are very common each morning and evening.  Even some very hardy people can be seen during the middle of the day!!
I will stick to the mornings.

Without doubt, the fine Chesapeake Schools are another key advantage of living in Chesapeake.  Always enjoying a high number of schools meeting state accredidation and always being a top performer in students graduating on time and those going on to post high school education attest to the quality of the schools.  Yet, the Special Needs Programs, Music Programs, Sport Programs and numerous clubs ensure the educational programs meets varied student needs.  An extensive Adult and Continuing Education programs allows adult to get GEDs or to simple explore a topic of interest!

Though very much a bedroom community, Chesapeake doesn't lack for places to shop and to eat!  With two major Mall/Shopping districts, Greenbrier Mall area in Central Chesapeake and Chesapeake Square Mall area in Western Branch Chesapeake have all the major players.  But add a host of Wal-Marts, Targets, Bed Bath & Beyonds, ect and one never has trouble finding needed item.

Add hundreds(so it seems) of strip centers and a host of stand alone businesses, no one drives far to get a prescription, a hair cut or to fill up the car.   

Though fine dining may be less available in Chesapeake, numerous local venues like Courthouse Cafe, Chesapeake Pizza and Andrea's Italian Restaurant and those special new or newer places like Broken Egg(Breakfast/Lunch/Dinner) in Greenbriar along with a host of national chain restaurants makes meals at home optional.

And this is only a short list of "Why Chesapeake"!!  


Monday, May 6, 2013

A Caution on the Housing Market??


An unusual turn in direction in this week's Mortgage Matters!!

The Market Recap of Real Estate focuses on the mass purchases of properties by large investors(Blackstone Group noted) to hold as rental properties and the possible distortion in market direction.  No doubt, the improvement in the market can be distorted by investors purchasing and holding property.  Yet, this would only be true if there were not additional inventory for the non-investor to buy.

As Jim Belote notes below, the former bubble markets of California, Arizona and Florida have seen lots of Market Speculation which has fueled good recovery in pricing in these areas.  The question that is posed is that is it time to take caution as a home buyer contract on his/her new home.

This may be a very valid question if one lives in one of these states or in a given market that has seen double digit recovery in prices in the past two year. Yet, this isn't a valid question for Hampton Road buyers.

In the Hampton Roads area encompasing Chesapeake, Virginia Beach, Norfolk, Portsmouth, Suffolk, Newport New, Hampton and up to Williamsburg/James county area as well as Northeastern North Carolina, we have seen a steady increase in values over the past three years in the 2% to 7%(last year) with a tightening of inventory.   The tight inventory is not due to a large company picking up 100s or 1000s of homes to rent out such as Blackstone did in some other parts of the country. 

Rather the shortage is due to buyers coming out to grab the 3.5% rates before they disappear while many sellers are on the fence about moving.   The tight inventory will pressure home prices as buyers bid on homes; homes under $300,000 are already seeing multiple offers.  Yet, a seller that needs to move may hit the double whammy of a higher value for his/her home coupled with higher interest rates. 

If a $300,000 home increases to $310,000 and rates move from 3.5%, 30 year note to a still very good 4.5% rate, 30 year note, the buyer has to come up with $223.59 per month.  For many buyers, this risk causes them to hit the market now.  A very wise move indeed!!

Sellers need to respond as well to reap the increase buyer activity and not wait until the buyers pause because "the market" seems against them.







 
Keeping you updated on the market! For the week of 
May 6, 2013

MARKET RECAP
 
Time to Get a Little Cautious
 
Home prices continue to chug along the upward trajectory.
The latest edition of the S&P/Case-Shiller Home Price Index shows that home prices rose in all 20 metropolitan areas the index tracks. What's more, not only were prices up, they were up strongly: Prices in the aggregate rose 1.2% month over month in February, which, when combined with previous monthly increases, produces a 9.4% year-over-year price gain – the highest annual gain since 2006.

To state the obvious, home prices have been on tear over the past 12 months. Many metropolitan regions have experienced double-digit year-over-year gains, and a select few are approaching triple-digit gains.
How times have changed.

In the dark days of 2009 and 2010, when home prices were continually trending lower, we repeatedly championed the need to remain positive. To be sure, the ride down was painful, but we reasoned that prices always bottom. Today, we see that in the majority of local markets prices have not only bottomed but have recovered nicely.

Prices continue to recover, and in many markets the price recovery has advanced to the point where prices are approaching previous highs. This tells us that the housing recovering needs to be viewed with a more discerning eye. We say that because this is a recovery unlike any other.
For one, the recovery is being driven by investors and not owner-occupied buyers. What really makes it unusual, though, is that institutional investors, who in the past drove the multi-family rental market (e.g. apartments), are buying single-family homes en mass.

For example, Blackstone Group, the world’s largest private equity firm, has invested over $3.5 billion to purchase 20,000 vacant and foreclosed single-family homes. In the past, this single-family rental market had been the domain of the small investor.

Not surprisingly, the Blackstones of the world are buying these properties and renting them. This makes economic sense. Vacancy rates are at multi-year lows, while rents are at multi-year highs. Rising rents warrant rising rental property values. Our concern is that we've never seen such a strong push into single-family rentals that we are seeing today. Is this creating a market-distorting effect? We can't say for sure.

We are also concerned by the rise in market speculation, particularly in the former bubble markets in Florida, California, and Arizona. We've noticed a considerable rise in the number of cable television shows devoted to rehabbing and flipping homes. RealtyTrac has even penned an article titled “25 Markets Where Flipping Homes is Most Profitable.”

In short, housing is showing signs of becoming the hot market again, and that alone is reason to vet the market more cautiously.

That said, we still view housing positively. We think there is plenty of improvement to be had in many markets. We also think there is plenty of room left to grow. After all, the upside to rising home prices is more mobility and more buying and selling.

What's more, the lifeblood of the market – financing – remains very attractive. Indeed, mortgage rates have fallen steadily over the past two months and are now flirting with the lows seen late last year.
The mortgage market is also showing signs of becoming more inclusive. More lenders are willing to venture into riskier lending. The Los Angeles Times reports that a growing number of lenders are embracing subprime lending. That's good news, because loans are being underwritten with eyes wide open. More important, they are being underwritten with the risk properly priced in.

And as for risk, it's something we need to become more aware of as the recovery progresses.
 
Economic 
Indicator
Release 
Date and Time
Consensus 
Estimate
Analysis
Consumer Credit
(March)
Tues., May 7,
3:00 pm, ET
$12 Billion (Increase)
Important. Student-loan growth is driving the increase in credit use, which suggests a slowdown in overall consumer spending.
Mortgage Applications
Wed., May 8,
7:00 am, ET
None
Important. Purchase activity slowed this past week, but the longer-term trend still points to an uptick in spring sales.
Wholesale Inventories
(March)
Thurs., May 9,
10:00 am, ET
0.1% 
(Increase)
Moderately Important. Modest inventory growth is a reflection of rising business-to-business sales.
 
An Overlooked Positive
In the content above, we reasoned why caution is warranted, but we didn't reason that pessimism is, because we don't think it is.

Investment in residential real estate construction is a significant reason why we don't think the housing recovery is likely to wilt. Contrary to popular perception, consumption doesn't drive growth, investment does. We say that because production precedes consumption.

The good news is that private residential investment is on the rise, which portends a rise in sales and sales-related activity. Looking at the bigger picture, private residential investment tends to lead economic growth, so this is obviously a good sign going forward.

Though relatively more cautious, we remain bullish on housing. But as we've noted many times in the past: all real estate markets are local, which means we are more bullish on some markets and less bullish on others.
 
 

Thursday, April 18, 2013

Local Market Roars Back! Home Sales

 
 
Local Market Data:   REIN(Real Estate Information Network) is Hampton Roads MLS system with a report on sales in the past month.  
 
 
Just more good news.
 
 












Wednesday, April 17, 2013

April Market Summary: Hampton Roads Real Estate Data

 
     The news on the Hampton Road's real estate market only keeps improving. All the lower price ranges are below the 6 month historical average on market times. 
 
 
Thus, we have certain price points that buyers are beginning to out  number the homes for sale.  It is not the time as a home seller to wait for the market to improve.
 
 
                IT IS ALREADY POPPING!!!
 
 
Don't miss out.   Please read and know the facts.
 
 
 
 

 



Monday, April 1, 2013

Things to do In Chesapeake on Spring Break

Community Events Newsletter

Week of April 1stChesapeake, VA   Change email preferences
Good Morning Bryan,

Here's this week's newsletter for Chesapeake! It's your first stop to learn what’s going on, happening and coming up around town.

Remember, your group’s activities, events and news can be part of it. Add an upcoming event to the Chesapeake Calendar or an announcement to the Community Corner today!

Please let others in the community know about AmericanTowns by linking to our site from yours. Thanks in advance!

Businesses:
Make it easy for your Chesapeake customers to find you. Be a part of the local Chesapeake community site today!

Chesapeake Guides and Reviews (new!)

Real Estate
Coupons and Deals
Classifieds
V olunteer Opportunities
Homes for Sale
Things to Do
Yellow Pages Search
Restaurants
and more... 
Chesapeake Community Calendar
04/01 Basketball Class - Basketball 12:00am
04/01 Spring Break Camp - DCCC 12:00am
04/01 Jazz & Hip Hop Dance 12:00am
04/01 "Big Shot" Basketball Spring Break Camp 12:00am
04/01 Spring Break Camp 12:00am
04/01 Zumba @ IRCC 12:00am
04/01 Spring Break Camp-RCCC 12:00am
04/01 WB Spring Break Camp 12:00am
04/01 "Fast Break" B'ball Camp 12:00am
04/01 Fun Spring Break Camp 12:00am
04/01 Fun Spring Break Camp-GBCC 12:00am
04/01 Jazz & Musical Theater 12:00am
04/01 Spring Break Camp 12:00am
04/01 Spring Break Camp-SNCC 12:00am
04/01 Spring Break Camp-IRCC 12:00am
04/01 Spring Break
04/02 Fitness Class - Karate 12:00am
04/02 Spring Break
04/03 Ballet and Tap For Beginners I 12:00am
04/03 Drawing with Charcoal 12:00am
More Community Events in and around Chesapeake
Event Categories:
Business and Professional
Clubs and Organizations
Government and Politics
Health and Fitness
Real Estate
Religion and Spirituality
Restaurants
Schools and Libraries
Sports and Recreation
Shops and Stores
Arts and Entertainment Calendar
04/06 ABSU 12:00am
More Arts and Entertainment in and around Chesapeake

Sunday, February 24, 2013

January 2013 LOCAL Market Report--Hampton Roads

Rose & Womble is the Best!!!

Always with the best data on the market and the best agents in the business.    Yes, I am one of them!

Click the link and review all the charts!



January 2013 LOCAL Market Report


Below is a breakdown by price point pulled from the Market Report: