|Virginia Beach - Buy Your Own Slice of Heaven!|
What's better than vacationing in Virginia Beach? Living here! Now is a great time to purchase a year round home or invest in a vacation rental home or condo.
According to a recent ABC Good Morning America segment, Virginia Beach was ranked one of the top five cities in the entire country as the best place to invest in real estate in this troubling economy. Here's an excerpt of the report:
Aug. 11, 2009
The struggling housing market has sellers and buyers searching for the best regions to get a great deal. Nationwide, home values are down 12 percent, compared with the same time a year ago, according to real estate website Zillow.com. Zillow, which tracks virtually every house sale in the nation, has ranked the top five best locations for home buyers and sellers. The results may surprise you, because the best places to buy a home are not necessarily where the houses cost the least. "For people who are financially qualified, it never has been a better time in nearly 40 years," said Lawrence Yun, at the National Association of Realtors. "I think this is good long-term investment opportunity to get into the market now."
When you go to buy a house, low-priced markets are not the only factor you should consider. "The No. 1 factor for a market holding its value over time has to do with what types of jobs are fueling the local economy," said Amy Bohuntinsky, of Zillow.com Look for communities with a strong job market and stable housing values. Some common threads: cities with military bases, state capitals and college towns all fare well because they are more "recession proof," according to Zillow. A strong tourism industry helps too.
Number one on the list...
Virginia Beach, Va.
Virginia Beach, Va., is one of the top picks for buyers. The city has a beautiful beach, and three military bases with steady jobs that make it one of the best places to buy. And right now, there are bargains: 30 percent of homes there sell for less than the asking price. "Virginia Beach is an area where home values have fallen, but they appear to have bottomed out," Bohuntinsky said. "If you're a buyer, this is your real, real opportune time to get in there and buy when home prices are at the bottom before they start going up again."
Top Realtors in the area:
601 Sandbridge Road
Virginia Beach, VA 23456