LOVE Where You Live!

LoveHomeAccording to Punxsutawney Phil, there’s a good chance that winter will linger for a while longer here in Southeast Virginia. Now is a good time to look around and give your home some maintenance love before the next wave of freezing weather moves in. Although we generally have mild winters,  homes in Suffolk, VA are still susceptible to damage from periods of snow, wind, and bitterly cold conditions. Take the opportunity to restock emergency supplies and address any items that may need repairing to improve your home’s efficiency:

-Winter storms bring the potential for power outages. Remember to fully charge electronic devices and have flashlights on hand with additional batteries. Update your first aid kit if needed and keep extra bottled water on hand.

-Protect your entryways from water damage by using heavy-duty floor mats and waterproof trays for boots and shoes.

-Check for drafty areas around doors and windows. Seal any cracks and install or replace weatherstripping as needed. Resolve any issues with your heating system right away.

-If your pipes are prone to freezing, let your faucets drip slightly when temperatures dip below freezing.

Do these cold days leave you longing for a new home this spring? Don’t worry! We can help you LOVE where you live. Let us play matchmaker and find the perfect home to suit your needs. REIN statistics for January 2022 reflect a median sales price of $281,000 with an average of 15 days on the market. Ready to buy or sell?

Contact us at Chorey & Associates Realty, Ltd. WE GET RESULTS.

Ready for A Starter Home?

Are you ready to purchase your first home in 2022? The Suffolk real estate market offers possibilities for you. Although most people envision owning their dream residence one day, chances are your first home will be a smaller and more affordable housing option that you can enjoy before moving on to your forever home as your needs and circumstances change over time.

What a Starter Home Is

The first home you buy is one you will likely outgrow. It typically has a smaller square footage area, with 2-3 bedrooms and 1 bathroom. Several reasons may drive your purchase, from price to location.

Advantages of Buying a Starter Home

Starter homes are often closer to city centers and are typically less expensive as they are considered the first rung on the real estate ladder. There are benefits to a smaller home, such as having a lower mortgage payment and reduced maintenance costs (utilities, taxes, upkeep, etc.). They also allow you to build equity more quickly while planning for the perfect “forever” place. Some people also turn starter homes into supplemental income as a rental once they find their dream home.

On the Right Track

Finding the right starter home can often require some combination of compromise, whether that be with price or making upgrades to an older property. Our team of real estate professionals is here to guide you through every step of the process from property search to closing. We love helping first time buyers! Give us a call today to get started.

The Top Reasons to Work with a Real Estate Agent

Buying or selling real estate is an involved process, no matter which side of the deal you are on. In this blog post from Chorey & Associates Realty, Ltd., we’ll look at the top reasons you should work with an experienced agent. Our team has extensive knowledge of southeast Virginia and northeastern North Carolina real estate .

These are just a few of the ways we can help:

  • Experience – A knowledgeable agent knows the market and speaks the real estate language. This expertise will help you as a client avoid mistakes that could cost you valuable time and money. Your real estate professional has access to the multiple listing service, current market data, and updates to laws & regulations to help you make the best decisions.
  • Objective representation – Buying or selling a home is often the biggest financial transaction a person will make, and it can often be an emotional process. An agent will objectively keep your best interest at heart while keeping you focused on your end goal, whether that be buying your dream home or selling a property.
  • Information – A real estate agent has access to the tools you need to manage advertising, open houses, and fielding offers if you are a seller. They will help you identify key selling points of your home and the sale prices of similar houses in your neighborhood. An agent will help you sort through listings, arrange showings, and negotiate a reasonable offer if you’re buying. They can also provide you with community demographics, information on amenities, and school data.

Every one of our Chorey real estate professionals is a REALTOR®. We hold ourselves to the highest industry standards and are proudly continuing a tradition of excellence. Put your trust in us…We Get Results.

Leigh Anne’s Local Picks + Tips

Real Estate

IT’S FALL Y’ALL! This is a great time to get out into the community and take advantage of the many seasonal activities happening around Suffolk. Here are a few of my picks for upcoming events that might interest you and your family in the coming weeks:

28th Annual Driver Days Fall Festival                   Legends of Main Street: A Suffolk Ghost Walk           

October 16-17                                                              October 22

Driver Village (Kings Hwy)                                        Suffolk Visitor Center

https://driverevents.com/                                            VisitSuffolkVa.com

 

Driver Fall Vintage Market                                       Music Bingo Night

October 23                                                                     October 25

Simply Vintage (Kings Hwy)                                      Nansemond Brewing Station

VisitSuffolkVa.com                                                         nansemondbrewing.com/

 

Touch A Truck, Train, & Trick or Treat

October 30

Seaboard Station Railroad Museum

VisitSuffolkVa.com

 

Come on out and enjoy what our local community has to offer this season! And if you’re ready to FALL for a new home, I can help you find the home of your dreams. Give me a call today for answers to all of your real estate questions! Now is a great time to start the process of working to achieve your real estate dreams  and here at Chorey & Associates Realty, Ltd., we are committed to our clients and our community. Put your trust in the Locals’ Choice!

Right now, there is a shortage of homes on the market. What does that mean for you? It means that if you are considering SELLING, now is a prime time to list your home for sale. There are buyers looking specifically in Suffolk and the surrounding areas and many of those buyers are willing to pay over the asking price!

Thinking about selling a home? Curious to know the current value of your home in today’s market? I’m here to help! Please don’t hesitate to call or text me directly at (757) 676-9790 with your real estate questions!

LEIGH ANNE PARKS, Associate Broker

Chorey & Associates Realty, Ltd.

757-676-9790 (CELL)

757-539-7451 (OFFICE)

leighanne@choreyrealty.net

Connect with me on Facebook!

Questions to Ask When Seeking Suffolk Land for Sale

Real estate is a significant investment, and it can prove to be a valuable one if you make a smart purchase. The value of property always seems to be on the rise, and the piece of land you buy today can be worth considerably more next year if you do some research prior to purchasing. So, whether you plan to purchase some Suffolk land for sale as a way to make your money grow or as a building lot for a new home or business, this blog post is for you.

You must ask some important questions as a buyer, and the team at Chorey & Associates Realty, Ltd. will address a few of them here.

Why does location matter? Location is everything and you don’t want to rush into a purchase of land with no resale value. Know how you to intend to use the land. Do you want to build a home or business and if so, can you do that on any potential properties you are considering?

What are potential costs involved? You will need a professional land survey and could incur that cost if a recent survey hasn’t been done. Survey costs vary depending on location, size of property, and other factors. Also, utilities and building costs should absolutely be considered up front. Will you need to have utilities run to the property or are they in place? This can be a tremendous cost. Do you know if the soil is good quality? You may need to pay for a soil quality test to be sure.

What are zoning restrictions? These are laws that tell you what can and can’t be done with the land. You’ll want to know how these apply to your potential properties. Can you build a house? Or have a business? Contact the local zoning office for more useful information.

What about access to the land? If the property is not accessible by public road, is there an easement in place or will you need to work with a real estate lawyer to negotiate an easement with the owner of a neighboring property?

Additionally, you always want to be aware of any environmental hazards on the land. This is not always apparent from a tour of the property; it pays to ask.

Here at Chorey & Associates Realty, Ltd., our team is standing by to help you. We have the answers. Several of our real estate professionals have decades of experience in land transactions and are licensed in Virginia and North Carolina.

Give us a call today to get started. (757) 539-7451.

Is There a Financial Benefit to Homeownership?

buying a homeThere’s no denying it: homeownership is still an important part of the American dream. But as time moves forward, many individuals start to wonder if owning a home in today’s world is as beneficial as owning a home in previous decades. The good news is that there are still countless positives associated with owning a home, including many financial upsides. When you’re looking for homes for sale in Suffolk, VA, remember that a house isn’t just a place to live—it’s an investment in your future. Take a minute to read about two of the main financial benefits of homeownership.

Builds Wealth

Housing prices do not remain stagnant. Therefore, the price you pay today will likely be lower than the price that the next person will pay when they buy the home from you. The difference between these numbers is all wealth that you’ve accumulated simply by owning a home. This increase in housing equity is a significant financial advantage for homeowners if you make a smart purchase and buy within your means.

Promotes Financial Stability

Seeing your mortgage shrink every month is a great feeling that shows your progress as you build equity. On the other hand, when you pay your monthly rent, all you see is a decline in your bank account. For this simple reason, owning a home is often the better option. Many mortgage payments are similar or lower than rent payments—with the added benefit of contributing toward a goal. Owning a home is a step toward financial stability in the long run.

Contact Chorey & Associates Realty, Ltd. today for more advice and to discuss local homes for sale.

Buying a Townhouse? Read This First

townhouses A townhouse can be a great option if you are looking to buy a place of your own. The team at Chorey & Associates Realty, Ltd. is here with a few tips on searching for townhouses for sale in Suffolk, VA.

For the right buyer, there are a some excellent reasons to purchase a townhome as opposed to other options on the market. Townhouses are often more affordable than single-family homes of the same size and similar location. You are responsible for fewer maintenance items than a single-family dwelling, thanks to a homeowners association. Additionally, a townhouse community will keep you in close proximity to others if you prefer to be near your neighbors. A pool, clubhouse with fitness center, playground, and more amenities are usually within close distance and easily accessible.

Ready to start your search? You want to make sure you have an experienced real estate professional working to help you find listings, negotiate pricing, and guide you through the purchase process. Know your budget and prepare ahead of time by working with a mortgage lender to get pre-approved before you immerse yourself in the search for the perfect property.

Our team here at Chorey & Associates Realty, Ltd. is happy to help you find townhouses for sale and get you into one that’s perfect for you. Give us a call today to get started. (757) 539-7451.

 

couple touring a home with their real estate agent

What to Look for in a Starter Home

Congratulations on your decision to purchase your first house. It’s a big step and one to be celebrated.

Now that you’re ready to start scouring the market for listings, the team at Chorey & Associates Realty, Ltd. is going to tell you what to look for in a starter home. We are intimately familiar with the listings for homes for sale in Northern Suffolk, VA, and happy to share the benefit of our knowledge and insight.

The primary thing to keep in mind is that it’s best not to let emotions rule your decision. You may find a home that you love, but it could be way out of your price range. It’s important to buy a house you can afford to you avoid any financial difficulties down the road. At this particular time, our local market is hot and with limited inventory, potential buyers are encountering bidding wars. Stick to you budget and hold out for the right home so you don’t get yourself into an uncomfortable situation.

When you’re looking for homes for sale, do your research about the location, especially if you are new to the area. Do you want to be close to your family, work, and the places and activities you enjoy? Are you willing to make a daily commute?  Buying your first home is not only a financial commitment!

If you have any questions about being a first-time home buyer, we’ve got the answers. Please contact Chorey & Associates Realty, Ltd., and our experienced professionals will help make your dreams of home ownership a reality. We love what we do and we get results!

family standing in front of their new home with SOLD sign

House Hunting Tips to Find Your Dream Home

Buying a house is one of the biggest decisions you’ll ever make in your life, and you don’t want to go into it unprepared. Knowing what you’re looking for and what’s most important to you can make this often stressful process much easier. Get a sense of the Suffolk real estate market and surrounding areas by researching community information (crime rates, property taxes, flood zones, and school ratings, etc.)  Knowing your price range and anticipating future needs (growing family or downsizing, for instance) can make  a huge difference in how much you invest now and can possibly sell for later. Work with a mortgage broker to have your preapproval, price range, and down payment ready, so you’ll be prepared to make an offer in this competitive market.

Not sure if it is good time for you to buy or sell? An experienced REALTOR® from Chorey & Associates Realty, Ltd. can tell you whether Suffolk real estate is a buyer or seller’s market right now. A buyer’s market is when available properties exceed the number of buyers. That offers you (as a buyer) more leverage and flexibility in negotiations, like requesting upgrades as part of the contract. Currently, in March of 2021, we are seeing a seller’s market scenario, where the available inventory does not meet the demand. Considering a move this spring? You’re in luck! Our team of professionals is here to help you every step of the way.

land for sale

Buying Land to Build Your Dream Home – Things to Know Before You Purchase

You’ve been planning and saving for years, and now you are ready to make a real estate investment. Congratulations! If you are considering purchasing land to build your dream home, there are some things you will want to seriously think about before making a commitment to a particular parcel. It’s a big decision to make, so let us help by providing information about purchasing land for sale in Suffolk, VA, and surrounding areas.

You want to build your home in a place you love and eliminate the stress of unforeseen issues in the process. Doing some homework beforehand can help prevent potential problems before you begin construction. These are some things to think about as you begin your property search:

Financing: What type of loan will you need? Are you financing the land AND the construction of your home? Let your real estate professional connect you with an experienced loan officer who can give you the best options based on your particular circumstances and goals.

Flood Zone:  Here in Southeast VA and Northeast NC especially, you will want to know if the property you are buying is in a Flood Zone. This can make a significant difference in building and insurance costs.

Survey: A completed survey is a must for determining boundary lines and helping you with placement of driveways, fences, etc. Without a survey, you can potentially be setting yourself up for legal disputes down the road.

Utilities: Does the property currently have any utilities? There can be significant costs in adding them if none are in place. Check with your local city or county planning commission and utility companies to help you clarify answers to questions concerning these matters.

Perc Test: Some parcels of land cannot connect to city sewer and make a septic tank a necessary addition. In this case, a “perc test” needs to be done to determine if the land can handle a septic system. Testing and a septic system can be expensive additional costs. A failed “perc test” determines the site is unsuitable for building.

Zoning and Restrictive Covenants: Know of and review any zoning and/or legal restrictions in place that could dictate future building and usage plans for the property. A Realtor, Title Company, or attorney can provide this information to you.

Lot Prep to Build: Don’t overlook expenses if your lot of choice needs to be cleared or there are existing structures that will need to be demolished. This can add up quickly and needs to be considered in overall cost if applicable.

These are just a handful of many details to consider when buying land to build your home. With that in mind, have a look at available land for sale in Suffolk, VA, to find your homesite! Our real estate professionals can guide you through the process of finding what’s right for your needs. We have REALTORS® on our team with decades of experience in land transactions. Put our knowledge to work for you.