February 2019

Found 2 blog entries for February 2019.

qualified opportunity zones (qoz) what you need to know

So, you may have heard about something called a "Qualified Opportunity Zone" (QOZ). Have you wondered what these might be about, and, specifically, what they could mean for the Hampton Roads real estate market?

Well, wonder no more. We're here to give you the basics on Qualified Opportunity Zones for Hampton Roads home owners, buyers, and investors.

Let's get started...

Qualified Opportunity Zones - How They Work

First, QOZs were introduced by the Tax Cuts and Jobs Act of 2017 as part of a plan to encourage development in economically under-served areas by creating tax advantages for investors.

As part of this new plan, thousands of census-designated areas across the country have been designated as QOZs based on their lagging

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community spotlight: East Beach, Norfolk, Virginia

When new developments are built, they are often located on farmland or within areas of relative wilderness outside of a town or city. While such areas are fabulous for facilitating the construction of new properties and on relatively inexpensive land, there may be drawbacks.

For example, a new homeowner may revel in the solitude of living further from the epicenter of the town or city, but may soon begin to dread the longer commute, not only for work, but also for activities of daily life, such as heading to the grocery or hardware store, medical appointments, restaurants, or cultural activities.

The community of East Beach, northeast of Norfolk, Virginia, on the shores of Chesapeake Bay, is a picture-perfect case for a new kind of urban

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