PHOEBUS REVISITED

Back in 2010, I wrote a blog post about Phoebus, located in Hampton, Virginia and on the National and Virginia Registers of Historic Places. I'm not sure why my fascination with Phoebus, but I do love it. I took a drive through yesterday and eveything is so quaint. The yards and homes are nicely maintained and manicured. While some shops are empty along Mellon Street, there are several antique stores and even a bridal shop, as well as the home of the Phoebus Improvement League. The most exciting recent happening for Phoebus was the announcement at the end of 2011 that President Barack Obama had signed to make Fort Monroe a National Monument that will be operated by the National Park Service. Phoebus Improvement League President, Faith Jones, said "We are the first ring to the National Monument" and "we need to be ready to take full advantage of it". For those that do not know this, in order to get to the main entrance of Fort Monroe, one needs to drive through a part of Phoebus. With this new annoucement the Phoebus Improvement League is working to update their master plan. What an exciting time for Phoebus...THE FUTURE COULD NOT LOOK ANY BRIGHTER! June 2012 Real Estate Data for Phoebus (as recorded by REIN MLS): 1) There are 10 active residential listings priced between $37,000 and $279,900 of which 2 are foreclosures and 1 is a short sale. There are 2 pending residential listings that are listed between $135,900 and $159,900 of which 1 is a foreclosure and 1 is a short sale. There were 12 sold residential listings within the past 12 months and they closed between $24,900 and $214,900. Of these 12 sold listings, 6 were foreclosures. 2) There is 1 active duplex listing priced at $170,000 and no sales reported within the past 12 months. 3) There is 1 active commercial listing priced at $500,000 and no sales reported within the past 12 months 4) There are 4 active lot listings priced between $25,000 and $75,000 and no sales reported within the past 12 months. For comparision, I have posted below my original post from 2010. Lynne Jakobowski, Long & Foster Realtors September 9th, 2010 \\ Uncategorized Phoebus is a Hampton, Virginia community that is showing signs of revitalization. In 2006 the Phoebus National Historic District was added to the National Register of Historic Places. It also was added to the Virginia State Register. There is a mix of specialty retail and residential. Some of Hamptons oldest homes are located in Phoebus. Because Phoebus was once a town unto itself, it still retains the small town charm. With revitalization, Phoebus is now home to The American Theatre. The American Theatre is one of Phoebus’ shining stars. The theatre holds many events to include concerts, art exhibitions and classes. Another recent Phoebus area historical renovation has been the Hotel Chamberlin. The Hotel Chamberlin currently is home to active adult rental apartments. For more information on Phoebus, check out the Phoebus Improvement Leauge website. Also a great read about the history of Phoebus can be found on the application for consideration as a historic district. This is located at the Virginia Department of Historic Resources website. August 2010 real estate statistics for Phoebus are as follows (as recorded in REIN MLS): 1) 26 active real estate listings consisting of 20 detached residential, 1 duplex, 2 commercial properties, and 3 lots for sale. The residential is ranging in price between $51,900 and $249,900. Commercial is ranging between $299,000 and $375,000. The lots are between $50,000 and $75,000. Of these, 2 properties are located within the historic district. 2) 2 pending sales on residential property. 3) 2 closed residential properties ranging in price between $49,000 and $68,400. 4) 1 expired listing at $165,000 and located in the historic district. If you would like any further information on the current Phoebus real estate market, email me at lynne.jakobowski@longandfoster.com or call me at (757) 240-9056. I would be happy to provide you a detailed listing.