All Forum Posts by: Kristine F.

Does anybody know why property values have not gone up as much as the properties in other neighborhoods? I was looking at Redfin and saw that some of the houses in Riverbreeze sold in the high $280s in 2007; however, the most recent 4 bedroom property just sold for only $220,000. I just bought a foreclosure in that neighborhood and renovated it. I haven't decided yet if I will keep it as a rental or if I will sell it. If I sell it, I will likely lose money since I spent more money for renovations than I originally planned. However, if the value will not appreciate or will decline, I am thinking I might be better off selling now at a loss and investing somewhere else that have more potential for growth than keeping it as a rental. Thanks in advance for the response.

Hello.  Is anyone familiar with the detached condos in Riverbreeze, Western Branch South?  Does anybody know why property values have not gone up as much as the properties in other neighborhoods?  I was looking at Redfin and saw that some of the houses sold in the high $280s in 2007; however, the most recent 4 bedroom property just sold for only $220,000.  I just bought a foreclosure in that neighborhood and renovated it.  I haven't decided yet if I will keep it as a rental or if I will sell it.  If I sell it, I will likely lose money since I spent more money for renovations than I originally planned.  However, if the value will not appreciate or will decline, I am thinking I might be better off selling now at a loss and investing somewhere else that have more potential for growth.  Thanks in advance for the response.

Good to know.  Thanks so much! :)

My property is in River Breeze in Western Branch South.

Hello. I am new to investung and I just purchased a foreclosure in Chesapeake Va for $185K. I will spend about $25K in renovation costs. There is a $200/mo HOA fee. I will pay my property manager the first month's rent and $89/mo. The fair market rent in the area is around $1650. Can you please advise if I made a good deal? Also, how does the Chesapeake Va real estate market look like? I live in California so the properties are too expensive which is why I looked into purchasing out of state. I was initially going to purchase in Dallas because all of the articles I read say that the Dallas market is great. However, I decided on Chesapeake because I was worried that property values in Dallas are already inflated. I found a great realtor that helped me find the foreclosure and I read that Chesapeake is a great rental market since it is close to a lot of military bases. Any input would be greatly appreciated. Thanks in advance!