“A short sale within Virginia Beach and surrounding areas occurs when the proceeds of a real estate sale fall short of the balance owed on the property.[1] In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the mortgagor.
More simple:
“A real estate short sale in Virginia Beach or elsewhere is a seller’s lender agreeing to accept less than what is owed to them. Period. End of story. Nothing more, nothing less. “
Currently as of this post date within Virginia Beach real estate listings there are over 140 properties in a short sale status:
Good deals on foreclosure real estate in Virginia Beach continue to be available.
Foreclosed properties under $300,000 both detached and attached offer potential value to first time home buyers, investors, and others seeking real estate in Virginia Beach. Read the rest of this entry »
Sandbridge real estate in Virginia Beach is unique and offers a piece of the ocean and bay in a non resort setting.
Homes and condos in Sandbridge have sold in 2008 in the high 390’s to over two million dollars. Many homes are directly on the oceanfront and others have the bay as their backyard.
Much of the Sandbridge real estate is a rental market for the summer time with many large homes able to accommodate families and others use for primary and secondary homes. Read the rest of this entry »
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