Hampton Roads Real Estate Blog

Published by The Morton Group with AtCoastal Realty | Todd Morton, REALTOR and Owner | November 2, 2026

The practical answer: Hampton Roads buyers should request a written homeowners-insurance quote as soon as a property becomes a serious contender. The premium on a lender's early estimate is not a property-specific insurance price, and the final cost can change the monthly payment and cash needed at closing.

Published by The Morton Group with AtCoastal Realty | Todd Morton, REALTOR and Owner | November 1, 2026

The practical answer: A VA lender does not judge affordability from debt-to-income ratio alone. VA underwriting also measures residual income - the money left after debts, taxes, housing costs and other obligations - because two households with the same DTI can have very different room in their monthly budgets.

Published by The Morton Group with AtCoastal Realty | Todd Morton, REALTOR and Owner | October 31, 2026

The practical takeaway: the national rental vacancy rate rose to 7.6% in the third quarter of 2026, but that does not mean Hampton Roads suddenly has abundant rentals or falling rents. A current Hampton Roads multifamily report measured 4.4% vacancy for a narrower local apartment segment. The two figures cover different geographies and housing types, so they should not be treated as competing measurements of the same market.

For renters, landlords and rental-property buyers, the useful question is not which headline is "right." It is which data set actually matches the property, location and time period being evaluated.

Published by The Morton Group with AtCoastal Realty | Todd Morton, REALTOR and Owner | October 30, 2026

The practical answer: a lender's title insurance policy protects the mortgage lender, not the buyer's equity. An owner's policy is separate coverage for the buyer's ownership interest. Before a Virginia closing, compare both policies, the title commitment and the itemized fees instead of assuming the lender-required policy protects everyone.

Title insurance addresses certain ownership problems that existed before closing, such as an unpaid tax claim or a contractor asserting a prior lien. It is different from homeowners insurance, which generally covers future events affecting the house and personal property.

Published by The Morton Group with AtCoastal Realty | Todd Morton, REALTOR and Owner | October 29, 2026

The practical takeaway: the Navy's newly closed $1.7 billion Homeport Hampton Roads Phase II program is a major regional housing investment, but it is not 8,098 homes being added to the civilian for-sale or rental market. The five-year plan covers privatized unaccompanied housing for eligible Sailors in Norfolk, Virginia Beach and Newport News.

That distinction matters. The project may eventually affect where some junior Sailors live, but the available information does not establish a specific effect on civilian rents, home prices or buyer demand. Any local market impact will depend on construction timing, eligibility, Navy referral policies and conditions in each city.

Published by The Morton Group with AtCoastal Realty | Todd Morton, REALTOR and Owner | October 28, 2026

The short answer: a fixed mortgage rate does not automatically change when the Federal Reserve acts, but a variable-rate home equity line of credit, or HELOC, can respond more directly because its APR is commonly based on an index plus a lender margin. Homeowners should check their actual line agreement before assuming when or by how much a payment may change.

The Federal Open Market Committee is scheduled to release its decision at 2:00 p.m. Eastern on October 28, after this article's publication. This guide does not predict that decision. It explains what Hampton Roads homeowners should watch if they already have a HELOC or are considering one for repairs, renovations or other major expenses.

Published by The Morton Group with AtCoastal Realty | Todd Morton, REALTOR and Owner | October 27, 2026

The short answer: buying a Virginia Beach home that is advertised or currently operated as a short-term rental does not automatically guarantee that the buyer can continue the use after closing. The City says a new owner must submit a new permit application, and eligibility depends on the property's location and permit history.

Published by The Morton Group with AtCoastal Realty | Todd Morton, REALTOR and Owner | October 26, 2026

The short answer: "as is" usually signals that a Virginia seller does not plan to repair or improve the property before closing. It does not automatically erase the buyer's right to inspect, cancel every required disclosure, excuse false information or waive separate financing and appraisal terms. The signed contract controls the actual rights and deadlines.

For Hampton Roads buyers and sellers, the safest approach is to treat "as is" as a negotiation position - not as a substitute for reading the contract, completing due diligence and putting every agreement in writing.

Published by The Morton Group with AtCoastal Realty | Todd Morton, REALTOR and Owner | October 25, 2026

The practical answer: a general home inspection, a termite or wood-destroying insect report, and a moisture-focused crawlspace evaluation answer different questions. Hampton Roads buyers should confirm the scope of each service before the inspection contingency deadline instead of assuming one appointment covers all three.

A home inspector evaluates readily accessible systems and visible defects. A pest professional looks for evidence of termites or other wood-destroying insects. A moisture evaluation documents water, humidity and conditions that can contribute to mold or wood decay. Depending on the property and contract, a buyer may need more than one report.

Published by The Morton Group with AtCoastal Realty | Todd Morton, REALTOR and Owner | October 24, 2026

Qualified Hampton Roads buyers may have more than one way to reduce the cash needed at closing. Virginia offers no-repayment grants, deferred assistance delivered through local providers, and a matched-savings program. These programs are not automatic, and availability depends on the buyer, property, loan and funding.

The practical move is to compare assistance before touring homes or writing an offer. A lender or program provider can explain eligibility, timing and whether a particular option works with the financing you plan to use.