Coastal View 1

During the past several weeks I have developed a new business relationship that I believe will greatly enhance  the marketing of my listings.  Through the network of social media I heard about local photographer Patrick McLaughlin’s aerial photos and quickly contacted him in regards to residential aerial photography.

Patrick McLaughlin

Patrick specializes in extreme photography including aerial, action sports, travel and destination.  You can see fine examples of Patrick McLaughlin’s work at: www.patrickmclaughlinphotography.com

I believe that aerial photographs of your property are important to selling your “premium” home.  Here are just a few of the reasons of importance suggested by our aerial photographer, Patrick McLaughlin.

Aerial photos taken by a professional in high resolution quality allows the prospective home buyer to see clearly the condition of the property and surrounding homes.  Google and other “web based” location/address aerial image providers offer fuzzy and muted or dark images. Good for driving directions, certainly not for property review.

Aerials also provide “prospective” of the neighborhood and surrounding recreational or geographical features such as the ocean, parks, shopping and transportation access.

Coastal View 1

Aerials most importantly create a powerful impression of land ownership.  This is “my” land and my home as viewed against other homes adjacent or nearby.  Creates a strong impulsive urge to own this unique property.

Patrick has provided professional aerial shots of my newest listing, Coastal View 1 and I look forward to utilizing his services with future listings as well.  SBH wants our clients to have every advantage to allow your home to sell quickly, and at the price you want.  Professional aerial photographs provide another strong selling tool!

Guest Speakers John Lubatti (Regional technical Recourse on Flood) and Kevin DuPree (Harleysville Flood Operations) will be speaking about “Flood Issues and Coastal Living Concerns.”  Please come early at 6:45 to enjoy refreshments and visit with your friends and neighbors.

Of the 13 homes that have sold this year, 8 sold at a price above city
assessment. The graphic below shows the properties that have sold in
January, February and March of 2012 and their corresponding city
assessment versus sold price.

Home Sales in Sandbridge

This month the featured guest speakers are U.S. Representative Scott Rigell and Delegate Barry Knight.

There is lots of activity in the community at the moment with summer fast approaching; contractors finishing up remodels, power washing decks, and opening pools.

This past month I’ve had many conversations regarding the investment part of purchasing in Sandbridge Beach. Property can be purchased as a second home, rented and still be considered a second home purchase. If you own several homes, the purchase would be considered investment property to most lenders. What’s driving this interest? Its many reasons, but a few would include lower acquisition costs, low interest rates and stable rental income. There are a few articles that have been published that point out this rise in interest from an investment point of view. See link for a recent article by TIME; http://moneyland.time.com/2012/04/02/market-for-investment-and-vacation-homes-has-been-booming/?iid=pf-article-latest

Along the same lines, I was recently introduced to a company that manages self-directed IRA’s. This is another avenue to purchase real estate. You can find more information about this company and the process of using IRA money to purchase property at www.trustetc.com. Look for more information on this subject in future newsletters.

As we end the first quarter of the year, market activity continues to be active with 3 sold and 5 homes under contract during the month of March and 2 sold with 3 under contract condos during the same period. See link for detail.

Aloha,
Pat

Photo Courtesy of Cindy Graf

The current real estate market in Sandbridge is very active and has investors looking for good opportunities.   Below is an excellent news article from TIME Magazine I found relevant to the vacation homes market in our community.  Please let me know if you have any questions regarding investment properties and/or the current market in Sandbridge.

“Market for Investment and Vacation Homes Has Been Booming”

By BRAD TUTTLE

Buyers snatched up houses as investment properties and second homes at an especially fast clip last year. The number of homes purchased for investment purposes rose a whopping 65% in 2011, from 749,000 to 1.23 million properties—which was more than one-fourth of all homes sold last year.

Click here to read the rest.

A guest speaker from Marlyn Development will present information regarding the Sandbridge Villas Apartment Complex that might be built along Sandbridge Road.

Please arrive at 6:45 to enjoy refreshments with your friends and neighbors.

Photo courtesy of Sandbridge Sunrise

I’ll start this newsletter with an update from city officials on our sand replenishment project. The city will be asking for bids in June for a combined beach replenishment that will include the resort- hotel area of Virginia Beach. This should result in the lowest possible price for sand due to the size of the project. The proposed start date for the work is December 2012. I will continue to keep you posted on this very important project.

Here’s a snapshot of this year’s real estate market at the beach. Year to date there are 7 homes sold and 4 pending which is comparable to last year at this time. See link for homes and link for condos pending or sold in 2012. Much of the activity can be attributed to higher affordability, low rates, and availability of funds. Lenders are slowly beginning to provide better loan options and slightly less stringent requirements to qualify.

Sandbridge is experiencing its normal preparations for the Spring/Summer season with lots of renovations, repairs and for the first time in many years, 7 homes under construction. Four of the seven are on the oceanfront and will be welcoming guests this summer.

Aloha,
Pat

This should increase interest in the project from the beach engineering and construction industry and generate competitive bids for the work. If successful, this will be the first time that the two projects have been combined.

In December, Congress passed a bill that enabled the Corp. of Engineers to manage the project without federal financial participation; this has cleared the way for our next replenishment.

2848 Sandfiddler Rd.

Do you dream of watching the dolphins play in the surf while sitting on your front deck as you sip your coffee? Are you looking for a getaway that provides a stunning sunrise and a place to gaze at sailboats moving along the horizon? “Windows” is the epitome of perfection for catching views of all these beach activities and more! Floor-to-ceiling windows span the entire east wall of the main living area and open kitchen. A long breakfast bar offers plenty of seating highlights the kitchen. Convenience abounds with two master suites – one on each floor with private baths. With 5 bedrooms and 4.5 baths, “Windows” provides plenty of privacy and space for the whole family to enjoy. Catch a wave on your surfboard, paddleboard or body board and then relax on the bi-level back deck. Come inside to challenge your friends and family to a Ping Pong tournament in the first floor Rec Room. “Windows” is the home of choice for those who want to be immersed in the natural beauty of the beach.

Specifications:
5 bedrooms – 2 master suites
4 and ½ bathrooms
Vinly siding and newer windows
Trex decking
100ft lot with no on-street parking
2- Zone York HVAC system

Offered at 1,125,000.00
Click here for a Virtual Tour.