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Local Market Conditions




Virginia Beach's Sellers' Market Swims Along
An application for REALTORS®

The summer beach season may be over, but Virginia Beach, Virginia's seller's market continues into the holidays, say local Realtors. "Virginia Beach offers a wide array of recreational and cultural activities, excellent school systems, moderate climate and water activities, such as, swimming, fishing and boating," says Realtor Gary Crawford. "For the past few years we have been in a strong seller's market in which home prices have been increasing significantly. However, we still have homes in an affordable price range."

"Although the summer frenzy has slowed down a bit," says Realtor Carlos Cardo, "the new downtown area, and limited land available for new construction has maintained this area as a seller's market. This city has it all for the family. The beach and parks, and many several local entertainment events make Virginia Beach a highly desirable place to visit, invest in and to settle down. Virginia Beach is a unique city due to its many military bases, a family-friendly beach, and a healthy economy.

Says Realtor Janet Gilbert, "The Hampton Roads area is a great place to live! In addition to our wonderful beaches, there are cultural activities, a dynamic downtown area, excellent restaurants and lots of family activities. The Norfolk/Hampton Roads region is currently experiencing a strong seller's market. Prices in most neighborhoods have increased significantly in the past two years. If you are considering buying a home, now is the time because this trend shows no sign of changing for the foreseeable future. In this type of market, buyers need a Realtor with strong negotiating skills and persistence in order to get the right home in the best area for the right price."

Click here to view current Market Conditions in your location.

Published: November 19, 2004

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Mortgage Rates
30 Year Fixed: 3.87%
15 Year Fixed: 3.16%
1 Year Adj: 2.78%
(U.S. Weekly Averages)

Today's Headlines 11/19/2004


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