When we meet with buyers for the first time, part of our buyer counselling is to explain the difference between a short sale and a foreclosure and also explain the pros and cons of buying them.  I am sure anyone who has done online home shopping has seen a home pop up in a neighborhood they have had their eye on that seems like a deal too good the be true.  The chances are that that property is a short sale.  So what is a short sale?

Short Sale Example:

A homeowner named Bob bought his home at the peak of the housing bubble for $300,000.  The recession hit and home values in his neighborhood took a big hit.  Values started to recover in the past few years but his home is now only worth $250,000.  He owes $280,000 and he is having a hard time paying

We get this question a lot.  The general consensus is that the spring is the best time to buy or sell a home and the winter is the worst.  Well lets look at the data to see what it says. 

As you can see there are definitely more sales during the spring and summer, peaking in June each year.  To be precise, approximately 40% more sales in June than in January.  There also pretty consistent trends that have a dip in July and November due to vacation plans and the holidays.  August and December often times see an increase in closings due to people trying to close before school starts or before the end of the calendar year. 

What about the number of homes on the market?

I won't put another graph up but the data shows that there are around 15%

The short answer is NO.  Real estate values are very micro.  By micro, I mean that they can change from one street to the next, from one school district to another.  In some cases values can change significantly.  I can speak from experience that It has taken years of experience to be able to accurately valuate a property taking into account all the nuances that add or detract value.  Here is a real world example of a property that just had an appraisal done.  The appraisers job is to evaluate all of the micro factors that dictate the value of a property.  There is no algorithm that spits it out, it is a manual review, using their local knowledge and analysis of market conditions.  In this situation the property was valued at $700,000.  The Zestimate for

We love Hampton Roads - and it’s our pleasure to work with the military men and women in our region. We understand the unique real estate needs of our military community. In fact, many of our agents are Veterans, MilSpouses or have completed advanced training allowing them to better serve our military.

Whether you’re PCSing from another part of the country, looking to buy or sell locally, or just need the professional guidance of a REALTOR®, we’ve got all your needs covered. No one knows the local market better than we do, we are truly "A Hampton Roads Original". Let us make the process of moving a smooth and enjoyable experience. We’re proud to serve our military!

At The Real Estate Group we understand the importance of online exposure for your property which is why we’ve gone to great lengths to build an online presence that makes it easy for users to find exactly what they’re looking for. With clean, modern design we ensure that your property will never be held back by a confusing interface and a focus on imagery means that the unique details of your home are never lost in translation. Whether you’re a first time homebuyer or you’ve been down that road time and again, you won’t find a more reliable guide to navigate the Hampton Roads real estate market than a seasoned professional at The Real Estate Group.

Providing great real estate service is what we do, giving back to our community is who we are. Our agents support local schools through our annual schools supply drive that also honors the teachers among us. We are proud to support EDMARC Hospice for Children through our annual Movies with Santa event, now in its 11th year. We are deeply rooted in the community, many of us grew up here. Our kids are on the soccer team and go to school with your kids. We love our country and are proud to support our military community. Learn more about The Real Estate Group by visiting our ABOUT page.

When you have worked hard to get ahead, you began with a vision of what you wanted. You had a lifestyle in mind for yourself and those you love. Maybe it was a beachfront luxury home and summer afternoons together. Maybe it was a home with the finest amenities next to a championship golf course. Or perhaps an equestrian property or horse farm with room to ride. The Real Estate Group is here to help that vision come to life. The Real Estate Group is pleased to announce a resource dedicated to helping you.  TREGLuxuryHomes.com, a website dedicated specifically to finding the ideal home and lifestyle for clients who know what they want, all conveniently laid out in an easy to find and search format that you can browse from your phone or desktop computer.

One of the most exciting parts of our business is helping people build their dreams into reality. Backed with the resources and experience of The Real Estate Group, hundreds of families are helped on their journey, many of them choosing to build or buy a brand new home as their "dream home". The Real Estate Group is please to announce its newest new home resource TREGNewHomes.com, a website dedicated specifically to finding the perfect new home. It contains the latest new home communities throughout Hampton Roads, all conveniently laid out in an easy to find and search format that you can browse from your phone or desktop computer. Allow us to assist you in building your dreams and we will make it your best move ever!

Owning rental property can be a great way to build wealth. Ownership can also offer significant tax benefits under the right circumstances. Finding the right income property means having the right professionals on your side. Start with an experienced real estate professional and a top notch tax advisor.  Property Management is a real estate specialty and the right property manager can help you evaluate the rental market and take the stress out of being a landlord. The Real Estate Group offers a full service property management department that serves hundreds of property owners throughout Hampton Roads.

Looking for the right vacation home in North Carolina? The Real Estate Group serves all of Hampton Roads and Northeast North Carolina. Let us help you find the perfect waterfront or beachfront property. From the outer banks to Edenton, we have you covered.