The Monthly Spiel

How's the Virginia Beach Real Estate Market?


This is the transcript of the video...

When is the best time of year to go house hunting?
How long will it take for my home to sell?
What’s the best time of year to put my house on the market?
When buying a house, when is the best time to get a good deal?
Are sales prices higher in the spring?

Hi, I’m Will Layton, Realtor in Virginia Beach, and today I’m going to answer these questions.

How’s the real estate market? This is the most common question that I get, but it means different things depending on whether you are selling your house or looking to buy one. To answer, these questions, we have to look at some of the sales data.

Here’s a chart showing the number of new listings

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Hi, I’m Will Layton, Realtor, in Virginia Beach. This is part 2 of the $50,000 Rule. Watch The $50,000 Rule Part I if you haven’t seen it already because there was a quiz at the end of it, and I’m about to give you the answers.

Okay, here’s the situation, let’s say you’ve set your budget at $500,000 but the house you really want in Virginia Beach can only be had for $550,000.  This is the $50,000 Rule in action. What do you do? And let’s keep it simple, we’re not talking about negotiating the price down to 500, let’s say that $550,000 is as low as the seller is willing to go. You have a choice to make; stick to your budget and buy a different house, or change your budget and buy the house you want. I’ve been in this situation a hundred times.

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The $50,000 Rule video transcript

Hi, I’m Will Layton, Realtor in Virginia Beach. Today I’m going to teach you about the $50,000 Rule. 

For over 10 years I have helped hundreds and hundreds of people learn about the neighborhoods and find the perfect house. While every family wants something different, certain patterns start to develop and one of those patterns is the $50,000 rule. Word to the wise, It’s far better if you learn this rule before you start house hunting. 

So, $50,000! That buys a lot of beer.

Unfortunately, it doesn’t buy you quite as much house, but $50,000 is often the difference between the house you think you can afford and the house you really want. Today, we are going to learn how to bridge that gap using the…

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too many family picturesBy: Will Layton

How a home makes you feel is probably the single most important variable when it comes to making a home purchase decision. So how does a home's decor come into play? Let's start by looking at the pictures on the wall. 

“You have a beautiful home, but you might want to take down the family pictures. You don’t want the buyer to be distracted.” I said this to a client recently while taking pictures for a listing. The home was immaculate. The furnishings beautiful. The only thing I noticed that would be an easy change was to take down the family pictures. There weren’t a lot of them, but more than usual. I couldn’t help but look because I was curious. Like many of us, I am a people person.

Both the husband and wife looked at me

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Ashville Park, new constuction in Virginia BeachThe smell of a new home rivals that of a new car. It’s the smell of the carpet and paint, mostly, but it’s also the lack of smells common to older houses that help you paint a mental picture of fresh and clean. Everyone likes this. Even people who like old houses. Given the opportunity, few people would pass up a new house in the right neighborhood for the right price. Buying new gives you two things; choices and peace of mind (we will get to why you shouldn’t buy new later).

Everybody likes choices and with new construction you get plenty. You can choose your lot, the floor plan, the colors, the carpet, the wood, the tile, the granite, and the appliances. You can even chose your toilet, if you want to go there. The idea of being able to create the

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best neighborhoods in Virginia BeachThink about how much time and effort you have put into making your home a comfortable place to live. This must be worth something, right? You have spent countless hours painting (not to mention picking out paint colors), rearranging furniture, and cleaning. And that is only on the inside! How many hours have you logged beautifying the outside of your home?

Now you are thinking about how much your home is worth because your neighbor just listed her house, or you want to refinance, or you plan to move! Let’s make sure that everyone sees the value you have added to it! Here is a quick summary of how home values are determined in Virginia Beach.

There is a catch 22 when it comes to calculating the market value of your home. You need the market value to

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Choosing a Neighborhood in North vs. South Virginia Beach

 “If you can’t explain it simply, you don’t understand it well enough.” Do you know who said this? One of the smartest people I never met, Albert Einstein. So let’s start out by making this simple. North Virginia Beach is more expensive because it is closer to everything that makes Virginia Beach a desirable place to live. South Virginia Beach is more affordable and the place to go if you want a newer home. It doesn’t get much simpler than that.

So, which is better for you? For the vast majority of us, there is no right or wrong answer. The answer becomes clear to me after identifying your wants and needs, but two couples with the same budget are equally likely to choose either the north or

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