The Shore Drive Blog : April 2008

SHORE DRIVE RENTAL HOMES

The entire Shore Drive / Chesapeake Bay beach area of Virginia Beach is a very desireable place to live.  Sometimes it is referred to as Chicks Beach.  Though I consider that to be the nickname of Chesapeake Beach, one of Shore Drive's unique neighborhoods.  There is a wide variety in the types of homes in the Shore Drive cooridor.  There are single family neighborhoods, condos, high-rises, townhomes, duplexes, deep waterfront, and bayfront.  The area attracts families, young professionals, military personnel, and empty-nesters alike.  Close by there are good schools, restaurants, marinas, and of course, the beautiful southern end of the Chesapeake Bay.

These qualities make owning rental property in the area a wise investment choice.  I am a real estate agent and handle residential sales and property management.  My specialty is "Hands-on" property management. 

Plaese click here to view some of my rental portfolio.

I live off of Shore Drive and consider the area as my "backyard".  If you own rental property (or would like to) in the Shore Drive cooridor I would love to discuss what I can offer you.

Thanks for looking!   -Mark                  

Please click on "comments" at the bottom of this post to ask about, or comment on Shore Drive Real Estate.

Also please visit my "Shore Drive Blog" by clicking the link below:

Cape Story By The Sea Sunset

We finally get a nice, warm, and sunny Saturday to head for the beach.  Here is my youngest boy checking out another one Saturday night.  The sun sets over the bay here for most of the Spring and Summer.

You can tell who on the beach watching has been to Key West, by the clapping at the precise moment the sun goes below the horizon.

-Mark

Do you own rental property in Cape Story By The Sea?

I do, and I also live there.

I believe that property in the neighborhood is an excellent long term investment, maybe having the best future appreciation potential in all of Virginia Beach.  Its proximity to the Chesapeake Bay, First Landing State Park, and the Lynnhaven River watershed, make the neighborhood very desirable. 

I am REALTOR with RE/MAX Alliance.  I sell homes but also manage residential rentals.  If you own a home in the neighborhood that you rent out or are considering renting your home, or if you are looking to buy in Cape Story, please give me a call.  I would be more than happy to help.

Summer Sunset Over Chesapeake Bay From Cape Story by the Sea Beach

With all the talk of a potential government bailout for the current situation with the increase in foreclosures and short sales, I have some concerns.

First off I will say that I have true compassion for those who have had their incomes drop due to the current economic situation, and are trying to provide a home for their families.  I feel for those who were coerced into "getting in over their heads" and sold ridiculous loans by lending institutions.  Also I regret that some in the real estate and mortgage industries took advantage of lax regulations and the public's ignorance of those industries.

Some of my thoughts:

If I personally am looking at homes and could get a 5.5 - 6.0 % 30-year fixed conventional mortgage, but I had to go with an interest only / adjustable product to afford the payment, I AM SHOPPING FOR SOMETHING I CANNOT AFFORD!!  

If I am buying a home to live in and I am planning on relocating in two or three years - I SHOULD BE CONSIDERING RENTING.

If I hear a lender's representative say "just refi in 2-3 years before the rate adjusts" I AM GAMBLING.

The four main causes of this current crisis, in a nutshell:

1.  Lack of regulation and oversight in the mortgage industry

2.  Greediness

3.  Peoples' desire to jump on the (real estate) Bandwagon

4.  Ignorance

Your thoughts?