Virginia Beach, Norfolk, Chesapeake, Suffolk, and Hampton Roads VA, Real Estate Foreclosures and Delinquency Status
Posted by Dennis Blackmore in Main category, tags: Buyers, Foreclosures, hampton roads, military ibate, new construction, Real Estate, realtor, va, Virginia BeachHow does Virginia Beach and Hampton Roads real estate delinquencies and foreclosures compare with the rest of the United States?
With the continued reporting of bad news on the real estate market sellers and investors wonder what the future holds.
In Virginia Beach and Hampton Roads we are blessed with a transitory and growing population, military and civilian. Also, our real estate buyers for the most
part come to the table with good credit and pre approvals from lenders.
The Virginia Pilot Newspaper
reported today that real estate delinquencies in Virginia Beach and Hampton
Roads remained slight in the first quarter compared with other areas of the
country. The area also ranked 343 of 381 real estate markets nationwide which is unchanged from last quarter
according to Core Mortgage Risk Monitor. The economic health of the area is better than most.
What does this mean for the Virginia Beach or Hampton Roads buyer? It is still a buyer’s market and
sellers are anxious to get a purchase contract. Price reductions, allowances, and closing
cost assistance are the norm and not the exception. Contact your REALTOR® to find out where the good deals can be found. This trend should continue until the excess
real estate inventory decreases. With 70+ new construction developments in Virginia Beach it shows
families still want to own a home and live in this great area.
Military and Veterans read here.
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