35 Phelps Circle, Hampton, VA 23663
According to CBS News, the Virginia Beach area is one of the top 10 cities in the country for foreclosures. While foreclosures were down seven percent in 2015 from the previous year, the area’s numbers are still high. In fact, the state of Virginia had an increase of foreclosure auctions of 21 percent from 2014 to 2015. A higher rate of unemployment than the national average exists here, which isn’t helping sellers. For buyers, however, the housing market here is highly favorable.
This cute mid-century rancher is going for $49,900, when in 2007 it sold for $124,900. It’s in a neighborhood of similar homes, just a four-minute drive to ocean beaches. That has to be a huge plus in its favor. Two bedrooms, a spacious kitchen and a great yard make this an appealing option for a starter or retirement home for beach lovers. That yellow door draws me right in, too. Perhaps some day this small rancher might look something like the photo below.
See full listing here.