Inland towns such as Hampton Roads, Williamsburg, and Chesapeake off of Virginia's Atlantic coast are showing strong home sales, say local Realtors.

The Hampton Roads area

"The Hampton Roads area of Virginia is blessed with a moderate climate that avoids the extreme temperatures of many other areas," says Realtor Chuck Dunlap. "It is conveniently located to the Atlantic Ocean, and only a few hours away from mountain living. There are opportunities to visit parks and museums for all ages and interests, take in professional sporting events, attend performing arts programs and partake of many other interests. A heavy military presence contributes to an ever-changing, vibrant community and economy."

Dunlap explains, "Hampton Roads is a very diverse community. The cost of living is relatively moderate compared with many other metropolitan areas. However, we have been experiencing a sellers' housing market since mid-1999, and home prices have been appreciating at a rate of about 5 percent to 15 percent per year, depending on the specific city/county or neighborhood. While continued appreciation is not "guaranteed", many have bought homes and sold only a few years later at with equity in their pockets."

Williamsburg-

"We continue to see a strong market," say Realtors Troy and Susan Deierling. "The lack of inventory has favored the sellers. Multiple offers on property priced below 180K is common. Detached homes under 150K are gone in a day or two if priced right and in acceptable condition. The over 350k market is generally slower."

The Deierlings suggest, "The Ford's Colony community continues to have a very large number of lots available on the resale market at bargain prices. Brand new lots are selling at a premium. Several other popular golfing communities are available as alternatives."

Chesapeake

"Chesapeake is an inland city with Virginia Beach to the east, Suffolk to the west and Portsmouth to the north," describes Realtor Tommy Alphin. "It's a major bedroom community with building progressing at a steady rate at several price point levels."

Alphin advises, "Chesapeake is a strong sellers market. Inventories are low so homes are sold very quickly. I have seen several sell in one day or less after listing. Land is less scarce in the southern part of Chesapeake where current building is underway. New building projects have also been approved by city council. Growth is creating a crisis in Chesapeake. A solution is being pursued by the city and parents. The solution could show up in higher new home prices in the future."

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Published: December 15, 2003

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