Examining Virginia Beach’s Esteemed Reputation as a Real Estate Hotspot

Virginia Beach | John S. Quinn/Shutterstock.com

Virginia Beach distinguishes itself as one of the nation’s most enticing real estate destinations. Nestled by the water, it is both a powerful economic hub and a captivating tourist attraction. There has been a lot of recent activity from “we buy houses” companies in the area over the last few years, due in large part to the city’s desirability and affordability. With so many compelling reasons to call this city home, let’s further explore what sets Virginia Beach apart and why investing in this great city is a prime opportunity for multiple real estate investment portfolios.

Virginia Beach comprises a sweeping shoreline that attracts visitors from across the U.S. and the world. With a bustling boardwalk filled with vibrant shops, restaurants, and attractions, the city creates a classic summer getaway ambiance. Virginia Beach also provides plenty more to see and do with its exceptional entertainment offerings, lively nightlife, and a full calendar of events. If you are looking to explore, check out the Town Center of Virginia Beach, Chic’s Beach, and The North End.

Beyond its appeal as a vacation destination, Virginia Beach offers an equally alluring lifestyle for residents. As the largest city in Virginia, Virginia Beach boasts a powerful economy anchored by major corporations contributing to robust sectors like tech and the military. In fact, the Naval Air Station Oceana in Virginia Beach and Naval Station Norfolk in Norfolk together create a globally significant military operation. The local economy, coupled with a lower cost of living and tax rates, allows residents to enjoy a high quality of life while retaining more of their earnings. The highly diverse and transient population demographic adds a unique touch to this Mid-Atlantic region.

The aforementioned factors make Virginia Beach a sound investment opportunity for savvy cash buyers. Experiencing significant population growth and economic expansion, the city’s real estate sector has surged. In just five years, its median sale price has risen from $269,700 to $380,000, according to Redfin’s April data. Those who foresaw the potential of investing in Virginia Beach have greatly benefited from their decision. More importantly, the city has been fully developed over the years. Just as there are inventory shortages nationwide, there are also inventory shortages in Virginia Beach. With roughly one-third of the buyer pool working for the military, VA mortgage-backed purchases help the housing supply turn over more frequently.

Navigating the Virginia Beach real estate market can be daunting, prompting many to seek expedited cash offers for their homes. 757 Offers, a company dedicated to providing fast cash offers to sellers in the Virginia Beach area, has seen a fair amount of competition over the last few years, largely due to the growing popularity of this market. Whether looking to purchase a new home or facing situations such as divorce or foreclosure requiring prompt decisions, this service offers a seamless solution.