I am excited to announce that RE/MAX Allegiance in partnership with SandbridgeHouses.com soon will open a new office at 3713 Sandpiper Road, directly across from The Sanctuary Condos. This was the original location of Kabler and Riggs Realty. We will be open by March 18th with renovations already underway. The move takes on a special meaning for my family and me. This is where my mother, the late Karen Barton, worked for many years as a realtor for Kabler and Riggs Realty. I welcome everyone to come by and check out the new office. Look for the Dolphin with the Stars and Stripes at the end of the road!
In other Sandbridge Beach news, at our last Civic League meeting city officials announced plans for our next beach nourishment project which is scheduled to begin in late July or early August and take 45 days to complete. The project calls for 1.5-2 million cubic yards of sand to be pumped onto the beach between Little Island Park and the Dam Neck fence to the north. This is a timely project due to the recent survey that shows the beach is close to levels prior to the last nourishment in 2007. The main reason for a summer start is the cost of sand is approximately 50% less than a fall or spring start date. I will be establishing a dedicated “tab” on the front page of SandbridgeHouses.com for updates on this important project.
The city also announced the start of the beach access way program. They will begin construction on the Tuna Lane access next month with completion by Memorial Day weekend. The accesses will have bike racks, be handicap accessible, and will include an unload and load spot for vehicles. The plan is to improve 2-3 accesses every year.
In real estate news, we currently have six 6 houses under contract with three 3 homes sold in the first two months of the year. The sale at 2932 Sandfiddler was a “short sale” and property at 3204 Little Island – pending- is “bank owned”. There are no condos under contract at the moment however two sold during the month of January (see link). New real estate assessments were mailed this week by the City of Virginia Beach, and it appears that the market has declined in value by 8 percent for non-oceanfront property and 1 percent for oceanfront. The main point I want to emphasize is that these assessments are based on sales in Sandbridge for the last 12 months. Assessments always lag a recovering market.
That’s it for now, please let me know if you have any questions about the information discussed in the newsletter.