The Lake Placid neighborhood is centrally located near Dam Neck and London Bridge roads.

The neighborhood has close proximity to Oceana NAS and Dam Neck military installations located in Virginia Beach.

Schools include Landstown High School, Corporate Landing Middle School, and Strawbridge elementary.

Below are the statistics for 2009 and up to this post date.  Lake Placid homes were built in the late 70s and early 80s.

You can view Virginia Beach, Chesapeake, Norfolk, Suffolk, and Hampton Roads real estate statistics which are updated weekly.

Active real estate sales listed may be viewed by using the link on the address or here.

Pendings real estate sales are the best indicators of home values although not yet closed.

Sales figures do not include concessions given such as closing costs.  Read more about real estate closing costs here.

Recently while showing homes to clients (mostly foreclosures) there have been several instances of mold presence.  One home in Norfolk was so bad it will probably require a complete “gut out”…..the price was good and enticed us to view – but it was quickly evident of why a low price….

This generally is a big “turn off” for real estate buyers and can potentially cause problems with appraisers, not to mention more importantly health issues.

The EPA has put forth some good information that both real estate owners and potential buyers should reference.  Specifically:

1. Potential health effects and symptoms associated with mold exposures include allergic reactions, asthma, and other respiratory complaints.
2. There is no practical way to eliminate all mold and mold spores in the indoor environment; the way to control indoor mold growth is to control moisture.
3. If mold is a problem in your home or school, you must clean up the mold and eliminate sources of moisture.
4. Fix the source of the water problem or leak to prevent mold growth.
5. Reduce indoor humidity (to 30-60% ) to decrease mold growth by: venting bathrooms, dryers, and other moisture-generating sources to the outside; using air conditioners and de-humidifiers; increasing ventilation; and using exhaust fans whenever cooking, dishwashing, and cleaning.
6. Clean and dry any damp or wet building materials and furnishings within 24-48 hours to prevent mold growth.
7. Clean mold off hard surfaces with water and detergent, and dry completely. Absorbent materials such as ceiling tiles, that are moldy, may need to be replaced.
8. Prevent condensation: Reduce the potential for condensation on cold surfaces (i.e., windows, piping, exterior walls, roof, or floors) by adding insulation.
9. In areas where there is a perpetual moisture problem, do not install carpeting (i.e., by drinking fountains, by classroom sinks, or on concrete floors with leaks or frequent condensation).
10. Molds can be found almost anywhere; they can grow on virtually any substance, providing moisture is present. There are molds that can grow on wood, paper, carpet, and foods.
11. Get a professional licensed inspector/contractor to give you remedial options if mold is present.

Should You Have the Air Ducts in Your Home Cleaned?

Searching for single family new construction real estate in Virginia Beach?

New construction real estate Virginia Beach (single family homes)

There are over 40 Builders eager to sell homes and offering great incentives including closing costs, financing, and upgrades.

New construction homes range in price from the low $200s to over $3 million – so something for everyone.

Get your new construction contract written before April 30, 2010 to use the first time or move up home buyer tax credit.

View all of these Virginia Beach new construction neighborhoods (enhanced real estate listings with photos)

Garnett’s Watch, Ridgely Manor, Sajo Farms, Chesapeake Shores, Mira Bella, Chesapeake Beach, Ocean Park, North Shore, Thalia Village, Woods of Little Neck, Thalia Acres, Gatewood Park, London Bridge, Shadowlawn, Beach Borough, Northend Va Beach, Estates on the Lynnhaven,  Sherwood Lakes and Executive, Blackwater, Prince George Estates, Heritage Park, Ashville Park, Victoria Park, Mayberry, Mathews Green, Pungo, Sandbridge, Grassland Farms, Highcourt, Lake Archway, Thompkins Estates, West Neck, Hillcrest Landing, Indian Pointe, Bernard Farms, Highland Parish, Eagles Nest, Courthouse Estates, Indian River Plantation, and Woodbridge Pointe.

As always consult your REALTOR(R) about any of these Virginia Beach new construction developments.   It’s Free

Read the Virginia Beach and Hampton Roads Homebuyer Guide

Why the Government’s bailout can make this the best time to buy foreclosure, short sales, new construction, investment, or resale real estate in Virginia Beach and  Hampton Roads.

Don’t believe me?  Listen to a renowned expert discussing buying a home at the bottom of the market and why it can be good for your long time happiness.

So if you are seriously considering a home purchase when in Virginia Beach, Chesapeake, or elsewhere in Hampton Roads you might want to watch the video and see for yourself.

As always, you can search for all types of homes, foreclosures, short sales, waterfront, investment property, and condos right now.

Visit msnbc.com for breaking news, world news, and news about the economy

The following real estate statistics for the Castleton neighborhood (homes and  condos) for 2009 are listed below.

You can search all active Castleton active real estate for sale (homes and condos) here.(with pictures)

Three of these homes in Castleton are/were foreclosures.

Two of these homes in Castleton are/were short sales.

Note that sales price does not indicate concessions given for repairs, closing costs, etc.

The Virginia Beach, Norfolk, and Hampton Roads area has a long, proud military history.   The city’s Naval Base is home to NATO’s defense headquarters, and the base itself is the world’s largest.

Thousands of military members and their families have purchased real estate and spent time in the region. Some stay for just a few years, while others decide to make a permanent home in the Virginia Beach and Norfolk area.

When it comes to buying a home in the area, both active duty and retired military members can capitalize on one of the most powerful and low-cost lending programs on the market — VA loans.

These dynamic loans are backed by the Department of Veterans Affairs. The governmental guarantee helps lead to excellent loan rates and terms for qualified borrowers. The VA currently guarantees about 13,700 home loans in Virginia with a total value near $4 billion.

VA loans are also one of the last ways borrowers can buy a home without putting down any money. Qualified VA borrowers can purchase a home worth up to $417,000 (and even more in costlier parts of the country) without the need for a down payment.

Other benefits of VA loans include:
-No private monthly mortgage insurance
-No penalties for loan pre-payment
-Higher debt-to-income ratio allowed than for most conventional loans
-Sellers can pay up to 6 percent of closing costs and concessions

For many veterans, VA loans are easier to obtain than conventional loans. Studies show that about 80 percent of VA borrowers couldn’t have qualified for a conventional loan.

The VA Loan Guaranty Program doesn’t have credit or income requirements. But remember that the VA does not issue loans — it guarantees them. VA-approved lenders will examine credit and income and typically look for a credit score of at least 620.

To be considered eligible for a VA loan, applicants must be:
-Military members who’ve served 181 days on active duty or three months during war time may be eligible.
-People who have spent at least a half-dozen years in the National Guard or Reserves
-Spouses of those killed in the line of duty

Those who meet the criteria must file a Certificate of Eligibility (COE) with the VA. This formal document, which basically certifies your ability to participate in the program, is available online or through a VA broker.

Be sure and read the buyer’s guide to help you through the real estate home process.

The following graphs for Virginia Beach Real Estate depict median price, days on market, inventory, and average price per square foot.

These real estate statistics reflect all four quartiles of prices (bottom, lower, upper, and top). Individual Virginia Beach neighborhood real estate statistics will vary by price range.

Absorption Rate: If no other homes were to come on the market it would take approximately 6.5 months to sell all inventory based on current sales. Once again, the absorption rate differs by price point – lower time to sell for bottom quartile homes and much higher for top quartile real estate. Virginia Beach has the best absorption rate in Hampton Roads at this time.

To see these statistics on a weekly basis go here.

Want Your Own Personalized Virginia Beach or other Hampton Roads Market Report? Request it here.

Time is Running Out – Tax credit information for First Time home buyers and move up buyers – are you eligible?

The following graphs for Virginia Beach Real Estate depict median price, days on market, inventory, and average price per square foot.

These real estate statistics reflect all four quartiles of prices (bottom, lower, upper, and top).   Individual Virginia Beach neighborhood real estate statistics will vary by price range.

Absorption Rate: If no other homes were to come on the market it would take approximately 6.5 months to sell all inventory based on current sales.   Once again, the absorption rate differs by price point – lower time to sell for bottom quartile homes and much higher for top quartile real estate.  Virginia Beach has the best absorption rate in Hampton Roads at this time.

To see these statistics on a weekly basis go here.

Want Your Own Personalized Virginia Beach or other Hampton Roads Market Report?  Request it here.

Time is Running Out – Tax credit information for First Time home buyers and move up buyers – are you eligible?

Very good information for potential Virginia Beach, Chesapeake, and Hampton Roads real estate buyers….I am a REALTOR(R), not a mortgage expert – Our goal as a “real estate/mortgage team” is to get you in your new home with zero issues and complete satisfaction.  But,  consult and ask questions of all parties and you will serve yourself well.

Foreclosure real estate sales in Virginia Beach for 2009 (as of this posting date) for condos and town homes totaled approximately just over 190  properties as of this posting date.

Below you can view all Virginia Beach real estate foreclosures and their listing and sold price for comparison.

Most prospective buyers of town  home and condo foreclosure properties in Virginia Beach are often surprised that huge discounts on these properties are slim and rare.

If big discounts do exist it is generally because of extensive repairs being needed.   Getting banks to repair properties beyond the minimum is often difficult and time consuming.   A Home Inspection to protect your interests is a must.

Receiving closing cost assistance is generally expected by buyers in today’s real estate market and sale prices below do not reflect what the seller may have given in concessions (closing costs, repairs, etc). Read more about typical closing costs here.

Currently as of this posting there are approximately 85 condos and town home real estate listings on the market (you can see all Virginia Beach foreclosures listings here and sign up for automatic notifications.)

You may be eligible for the Tax Credits being offered for first time and move-up buyers.   Read here.