Archive for June 3rd, 2013

Positive Economic Outlook in US

Waterfront homes in suffolk va

According to many research polls, the view of the economy (in the opinion of the American public surveyed) is no longer as dour as it was a few short years ago. In fact, according to a recent Gallup poll, American consumers are more upbeat than they have been since 2008. In the state of Virginia, the sentiment is similar. Specifically, in the state of Virginia, the economic outlook, including factors such as employment and earnings potential, is on par with the national average. As such, housing sales in Virginia (including homes for sale Norfolk VA) in the first quarter of 2013 increased 3.35 percent year over year (also on par with the rest of nation), and the median sales price in Virginia increased 8.2 percent year over year (also including homes for sale Norfolk VA), which is slightly better than the rest of the nation.

Virginia is home to five of the top 100 cities in which to buy real estate, according to CNN and Money magazine. (Reston takes the seventh spot in the nation.) A lot of the appeal of Virginia, including homes for sale Norfolk VA, for example, has to do with the local economy and workforce, and the climate and natural beauty of this mid Atlantic state. Because Norfolk is home to the largest naval base in the world, which not only introduces a viable and large employer, but the talented workforce is drawn to purchase homes for sale Norfolk VA. Also according to Money magazine, the state and local tax rate for Norfolk is lower than the national average, and job growth is nearly 18 percent.

In addition to the local economy and military presence, many homes for sale Norfolk VA lie near various bodies of water (Cheseapeake Bay, Hampton Bays, the Atlantic Ocean). As such, Suffolk new homes, homes for sale Chesapeake VA, and waterfront homes in suffolk va are an attractive option. Another fact adding to the attraction for homes for sale Norfolk VA, is that it is a good, sound investment. Unlike other areas of the nation, homes for sale in Suffolk VA, including new homes in Suffolk VA, experienced a median price increase of .84 percent year over year. The good news does not end there. In addition to searching for homes for sale norfolk va, area home builds are on the increase, and many area residents are also seeking to refinance by taking advantage of these historically low interest rates.