My Real Estate Blog

January 12, 2012

Properties for sale

There are 8,914 homes currently for sale today in the greater Hampton Roads area. This area consists of Norfolk, Virginia Beach, Portsmouth, Chesapeake, Suffolk, Newport News, Hampton, and Poquoson. Prices are ranging from a low of $32,500.00 to a high of $2,600,000.00 so there is a huge variation fitting almost every search and pocketbook.

Of the 8,914 homes, 3,909 are "bank owned" homes so these are probably priced below market and, as such, can be remarkable bargains.

Interest rates, according to one lender, are ranging between 3.75% and 4.25% with closing costs often being paid by the seller. Opportunities like this haven't been available for a very long time, if ever!

Rentals

There are 1,824 homes currently for rent in the same area. Rents range from a low of $450.00 per month in Newport News to a high of $8,000.00 per month in Virginia Beach. Housing is available throughout the entire area in almost any range and type desired.

The next update will be one week from today on the 19th of January. Please email any questions to PMangum@RoseandWomble.com .