subject: How Is The Hampton Roads Real Estate Market In 2012? [print this page] How is the Hampton Roads Real Estate Market?
There has never been a better time to invest in residential real estate than this summer. Record low prices, combined with a gradually reducing inventory and profoundly low interest rates have created the perfect storm of favorable market conditions for investors. Throughout Hampton Roads, in particular, economic forecasts point to explosive growth in the residential sector in the next three to five years, growth thatthe savvy investor can capitalize on with strategic investment in new construction Hampton Roads.
Hampton Roads Market Forecast
The tidewater region is heavily reliant on the numerous military bases that dot the Virginia Peninsula and South Hampton Roads. These military bases tend to push prices in local real estate markets up, especially in starter homes and multi-family dwellings. With military bases in other parts of the country closing, it is likely that the Hampton Roads area will see an influx of active duty military personnel who will be resettling along with their families within the next four years. Additionally, the new HRTA program to construct a third crossing of the Hampton Roads harbor crossing is the type of bold infrastructure development that usually signifies a general economic revitalization. The old home inventory is low in this area, and new construction has been purchased almost as soon as it hits the market. According to the Newport Gazette, homes for sale have only declined in value slightly during the recession, with every indicator pointing to a strong resurgence in value.
Virginia Beach Real Estate Forecast
One of the most promising areas for home sales has been Virginia Beach. Virginia Beach started off 2012 with increases in home prices throughout many neighborhoods in the city, and the inventory of new construction Virginia beach has sold consistently at asking price. Real estate deals in Virginia Beach are hard to find due to the number of investors looking to build their real estate portfolio, but most real estate agents recommend looking at some of the coastal neighborhoods as they will experience the greatest increase in prices when homes for sale Virginia beach begin increasing in value at the tail end of the current recession.
With home prices set to increase sharply in the next decade, now is the perfect time to build a dream home in Hampton Roads or Virginia Beach. HomeQuest is an experienced builder that produces energy-efficient homes that are friendly on both the environment and the budget. Founded in 2006, HomeQuest made a name for itself by producing several multi-million dollar homes, showcasing the innovative architectural techniques that they would later translate into their more affordable homes. Founders Steve Smalto and Brad Greene intend on making "green" construction affordable for everyone in Virginia. HomeQuest homes have been singled out for awards and media attention, and they represent the best value in real estate investment in this crowded and active market.
