I am looking into purchasing a home by Nov. Is it realistic for me to find a home in norfolk,va/va beach,va area in the price range of $80k-$120k?

Asked by Catherine, Norfolk, VA Sun Aug 14, 2011

I am looking for a home with a decent kitchen size and dining area (family loves to be around the kitchen), 2-3 bedrooms (but would love 3), 1.5-2 baths (prefer 2).

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Mick Shaw, Agent, Norfolk, VA
Sun Aug 14, 2011
Dear Catherine,
Let me first thank you and your husband for his (and yours!) service to our Nation. All over town, our flags are flying at half staff in honor of our fallen heroes from the recent tragedy in Afghanistan. Many on that fateful mission were stationed here in Hampton Roads as part of SEAL team 6. We continue to lift these families and friends up in prayer. God Bless our servicemen and women deployed across the world in defense of our freedom!
As a lifelong resident and third generation native of Norfolk, I would love to assist you with a potential home purchase in Norfolk as would virtually all REALTORS. I always try to get as much info as possible before suggesting homes or even a home purchase? The rule of thumb used to be that a military person needed to be sure they were going to be stationed here for at least 3-5 years to ensure they would have enough equity if they had to sell upon getting new orders. Given that our home prices are still sliding and the cost of selling exceeds 10% generally, I would caution that you may want to push that safety window out past 5 years? Unfortunately, many military personnel who purchased locally in the past 5-6 years are being forced to rent their homes because their value has decreased substantially in addition to the aforementioned 10% cost of selling (3-4% closing costs plus 6% sales commissions). This has undoubtedly caused some unnecessary hardship in addition to preventing them from taking advantage of a probable buyers market at their next duty station.
That said, I practice almost exclusively in the City of Norfolk and feel there are great bargains to take advantage of if you decide that's the right decision for your family. I also feel that you will more likely end up in the upper 160's to upper 180's if you need the second bath and a larger kitchen or open floor plan for family gatherings. That is in keeping with Norfolk's median home price currently around $170,000. Virginia Beach's median home price is even slightly higher so I'd bet you would end up closer to $200,000 if you opted for Virginia Beach. Norfolk is roughly a 6 mile by 6 mile square so every neighborhood would be close to the either the Air Station or the Amphibious Base, Norfolk's two bases, and Interstate 64 which runs through the heart of Norfolk. You can contact me at http://www.MickShaw.com or by cell phone at 757-286-0800. I can also send you a Hampton Roads welcome package via the postal service or in digital format electronically. Let me know which you prefer? Thanks for your inquiry...and welcome !
Web Reference:  http://www.MickShaw.com
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Shelley Otey, Agent, Norfolk, VA
Sun Aug 14, 2011
I work with Fannie Mae & Freddie mac listing agents so I see a lot of reduced prices $80,000-$120,000 that are close to the bases and I-64. It is a very good possibility I can find a home with a good size kitchen , 1.5 - 2 baths with 3 bedrooms in the area you are Looking for. I am also a 50 year local so I know the areas well. Call or email anytime. 757-407-3032. Sotey@roseandwomble.com I'd enjoying helping you no fees involved.
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Teresa Lanca…, Agent, Chesapeake, VA
Sun Aug 14, 2011
Yes it is realistic. My buyer just purchased this turn key foreclosure for $110k. http://www.trulia.com/property/3029924645-4629-Windermere-Av… We had alot of competition in this price range and alot of the houses need work. Luckily we found this gem in a great neighborhood. Definitely possible. I could send you automated listings that meet your criteria. Please feel free to email me if you need further assistance. Thank you and good luck with the house hunting!


Teresa Lancaster
HomeQuest Realty, Inc.
Direct 757.478.0009
Web Reference:  http://www.ownhomesinva.com/
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Nica Jackson, Agent, Lithonia, GA
Sun Aug 14, 2011
It is realistic. Just give me a call. I'd be glad to help. http://Www.monicamyers.com
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Sherry Albe…, Agent, Norfolk, VA
Sun Aug 14, 2011
Hi...thanks for your interest.... there are several properties in Norfolk that may suit your needs.... closer to the upper range you were thinking of.... most of the houses in that range have 1 bath, but there are some with 2.... you'll have to see the kitchens and see if they will work for your family and for you... but I saw several that may work.... if I can help you, when you're ready, just let me know...thank you again! 757-477-9123 ; sherrya@williamewood.com
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Catherine, Home Buyer, Norfolk, VA
Sun Aug 14, 2011
To add a little idea to what I am looking for is that I am also looking for a home near the norfolk military base or at least an easy access to 64.My husband is in the military. I am currently residing in Northern VA and it might be a little easier to have an access to what is available out there via email so that I can schedule the time frame for house hunting personally.Thank you
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DellaCarey R…, Agent, NORFOLK, VA
Sun Aug 14, 2011

We are the Norfolk RE/MAX. Please see our website for everything Norfolk. Any of our very experienced agents can help you. RE/MAX Ambassadors. Contact the owner Carey at 757-692-4344! http://Www.careyhodsden.com

Web Reference:  http://www.careyhodsden.com
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Tee Williams, Agent, Portsmouth, VA
Sun Aug 14, 2011
Ms Catherine

I am confident that I would be able to help you find a nice property in that price range. Please contact me at your first opportunity so that we can futhur discuss what is available in the area. My office number: 480.3VA.REOS
Web Reference:  http://jamesallengroup.com
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Jeanne (Geni…, Agent, Virginia Beach, VA
Sun Aug 14, 2011
Very easy go to my site and do a search. You can more unlikely find it for $120,000. I'll be glad to answer any questions you might have, and help you search for your property.
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