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Virginia Beach VA Home Sales November 2019

1/20/2020

Virginia Beach VA Sales November 2019

By the Numbers courtesy of the Virginian Pilot:
Median residential closing price in Virginia Beach for November 2019 $269,900.
Closings in Virginia Beach for November 2019 = 596.
Median residential closing price in South Hampton Roads for November 2019 $249,000.

Norfolk VA Home Sales November 2019

1/16/2020

Norfolk VA Sales November 2019

By the Numbers courtesy of the Virginian Pilot:
Median residential closing price in Norfolk for November 2019 $212,000.
Closings in Norfolk for November 2019 = 276.
Median residential closing price in South Hampton Roads for November 2019 $249,000.

Suffolk VA Home Sales

1/13/2020

Suffolk VA Sales November 2019

By the Numbers courtesy of the Virginian Pilot:
Median residential closing price in Suffolk for November 2019 $269,900.
Closings in Suffolk for November 2019 = 138.
Median residential closing price in South Hampton Roads for November 2019 $249,000.

4 Things You May Not Know About VA Loans

12/30/2019

1. A down payment may be required. The fact that there's no requirement for a down payment and no private mortgage insurance or mortgage insurance premium is probably the VA loan's biggest draw. In 2020, there is no set figure for which a lender will require a down payment.

2. VA home loans are attractive in a rising-rate environment. Your VA lender may allow a buyer to step in and assume your loan -- a particularly nice feature if interest rates rise. The terms of the loan could be a lot more favorable for the buyer, and the cost of the transaction could be substantially less. There are liability and VA loan entitlement issues to be aware of, so you'll want to research the ramifications with your lender.

3. These home loans are quick and competitive. Really. It's common for veterans to be concerned about these two issues, but you need not worry. Today, the VA's automated system facilitates the process from beginning to end. Typically, you can close your loan in just a few weeks. According to the loan processing firm Ellie Mae, VA purchase loans took four to five days longer than conventional loans during the early months of 2019. From an interest-rate standpoint, VA loans are typically lower than a conventional loan with the same terms.

4. You can use it more than once -- and maybe more than once at a time. Yes, you can use a VA loan more than once. If you've paid off the previous loan, all of your entitlement is restored and you're eligible to use another VA loan. One note: Subsequent use may require an increased VA funding fee. If you have a VA loan but decide to rent your home when you relocate to a new primary residence, you may be able to use another VA loan to buy your new residence and have two VA loans simultaneously. This can be a bit complex but, if the numbers work, it can be done.

Visit va.gov to learn all the details. Buying a home is a big decision, so your first task is to ensure it makes sense, given your personal circumstances. However, if you're buying, a VA loan is worth a look.

VA Offers Tips on Coping with PTSD During Holiday Season

12/26/2019

The holidays are a time for coming together with family and friends, but they can also bring on added stress for veterans dealing with PTSD, according to the Department of Veterans Affairs.

There can often be that person at holiday gatherings who just has to ask awkward questions of the veteran with post-traumatic stress, the VA said in a list of tips on its Vantage Point blog.

Rather than blow that person off, the veteran should first consider cutting them some slack, the post noted, adding that the person asking the annoying questions is probably doing so out of genuine concern, however misdirected, for the veteran's well-being.

"A polite way of handling these types of situations is by taking a few slow, deep breaths and calmly responding to someone, 'I think it is nice of you to show you care by asking, but I'd rather not talk about that right now,' or 'thanks for your concern, but I'm not comfortable answering questions about that,'" the post said.

The best course for the veteran in such a situation is to try to redirect the conversation to other topics, it added.

"Ask that family member about work, their children or their favorite sports team, and steer the conversation to safer ground," the Vantage Point post said.

Other VA tips for getting through the holidays for veterans with PTSD include these:

  • Talk with your family about how you feel. Your family can help you. This does not mean you have to tell them everything, but let them know you're feeling stressed.
  • Set limits. Don't join activities for longer than you can handle. You can choose when you want to be a part of the group.
  • Get plenty of rest. You may already have difficulty sleeping, but do your best to maintain your usual bedtime or wake-up. Naps should be taken sparingly, as they may further disrupt your nighttime sleeping patterns.
  • Make the best of it, if you can. Sometimes, people who are feeling depressed find that if they go through the motions, they just might catch themselves having fun.
  • Go easy on alcohol. Many people have a few drinks, thinking it will relax them, but instead, alcohol causes many people to have less control over their emotions and behavior.

The VA also advised that the Veterans Crisis Line will be available throughout the winter holiday season, including Christmas and New Year's Day.

Veterans and their loved ones can call 1-800-273-8255 and Press 1, chat online, or send a text message to 838255 to receive confidential support 24 hours a day, seven days a week, 365 days a year. Support for deaf and hard of hearing individuals also is available.

Virginia Beach VA Sales September 2019

12/16/2019

Virginia Beach VA Sales September 2019

By the Numbers courtesy of the Virginian Pilot:
Median residential closing price in Virginia Beach in September 2019 $275,000.
Closings in Virginia Beach for September 2019 = 670.
Median residential closing price in South Hampton Roads in September 2019 $257,400.

Norfolk VA Sales September 2019

12/12/2019

Norfolk VA Sales September 2019

By the Numbers courtesy of the Virginian Pilot:
Median residential closing price in Norfolk in September 2019 $209,000.
Closings in Norfolk for September 2019 = 271.
Median residential closing price in South Hampton Roads in September 2019 $257,400.

Home Sales in Hampton Roads October 2019

12/9/2019

Portsmouth VA Sales October 2019

By the Numbers courtesy of the Virginian Pilot:
Median residential closing price in Portsmouth in October 2019 $169,000.
Closings in Portsmouth for October 2019 = 179.
Median residential closing price in South Hampton Roads in October 2019 $245,000.

Chesapeake VA Sales October 2019

By the Numbers courtesy of the Virginian Pilot:
Median residential closing price in Chesapeake in October 2019 $289,990.
Closings in Chesapeake for October 2019 = 398.
Median residential closing price in South Hampton Roads in October 2019 $245,000.

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