Hampton Roads, VA Homes for Sale

Because the port is strategically less than 20 miles from the open ocean, the Hampton Roads naval base in Norfolk has grown into the largest in the world. This booming metropolis with a cumulative population of about 1.6 million was also the site of a legendary naval skirmish that revolutionized warfare tactics. The now famous ironclad Battle of Hampton Roads between the CSS Virginia and the USS Monitor during the Civil War was a historic event because it marked the first time two iron-surface warships clashed. Due to the city's proximity and open access to major waterway routes, Hampton Roads' economy revolves largely around its port. For consecutive years, Hampton Roads has been the mid-Atlantic leader in U.S. waterborne foreign commerce, according to wikipedia.com. The city is also significantly influenced by the military, whose presence collectively generates more than $10 billion for the area's economy.

The Hampton Roads area is also prominent for being the site of the first permanent English settlement in America: Jamestown. The Jamestown settlement, with its legacy of John Smith and Pocahontas, continues to be a main tourist attraction. Jamestown was founded in 1607, many years before the United States was formed. The Jamestown Settlement is a living history museum that makes the settlement come alive through period re-enactments and authentic exhibits of a Powhatan Indian Village and James Fort. Visitors can explore the Powhatan way of life and learn about Pocahontas' roots. At the James Fort exhibit, visitors can get a glimpse of what early settlement life was like and view the earthen homes with thatched roofs that comprised of much of the community's housing stock. Historical interpreters also offer demonstrations of everyday tasks and activities common during the 17th century.

Another popular tourist stop is the Mariner's Museum, one of the largest maritime museums housing 60,000 feet of galleries and exhibits. The Age of Exploration exhibit educates visitors about the evolution of shipbuilding and navigation, chronicling voyages from the 15th century onward. Here a host of navigational instruments and models of early ships can be found. The Defending the Seas exhibit, however, is mostly dedicated to outlining the significance of the naval presence in the nation's development. Five different sections of the exhibit feature different points in the nation's history in which power was tantamount to controlling the seas.

As the metropolitan area expanded, Hampton Roads real estate also grew, taking part in the housing boom that affected the rest of the nation. The result was a strain in housing supply and demand and a cooling Hampton Roads housing market, according to 2005 reports from the Virginia Association of Realtors (VAR). According to data compiled by the VAR, home sale closings dipped nearly 20 percent in June compared to May of last year. Bidding wars for Hampton Roads homes for sale have also become more commonplace, especially in South Hampton Roads. According to home.hamptonroads.com, the rate in that area has seen an average bid of $9,000 over the original home asking price for an existing single family home in 2005. VAR data also shows that Hampton Roads real estate is appreciating with the 2005 average home price at $250,000, compared to $204,000 in 2004. Additionally, a statistical snapshot from dailypress.com shows that the median sales price for Hampton Roads real estate for sale was about $240,000, reflecting an eight percent appreciation in the last year. Although the Hampton Roads home search has become more challenged, this blooming metropolis and natural harbor offers first-rate living that makes it worthwhile. Invest in Hampton Roads real estate today!

Sources:
http://en.wikipedia.org/wiki/Hampton_Roads
http://www.globalsecurity.org/military/facility/hampton-roads.htm
http://www.mariner.org/visitorinfo
http://www.historyisfun.org/jamestown/jamestownhistory.cfm
http://home.hamptonroads.com/stories/story.cfm?story=92993&ran=124602
http://www.wvec.com/news/business/stories/wvec_local_072606_home_sales_June.593b62f.html
http://www.dailypress.com/classified/realestate/livinghere/