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  • psst … I’m a Realtor! Thanks for stopping by my website. I would love to help you find your dream home and community in the Hampton Roads or Williamsburg area or to sell your existing home. This website is authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of Hampton Roads and the historic triangle, and his expertise in the local real estate market. His websites, WilliamsburgsRealEstate.com and Mr Williamsburg.com were created as a resource for folks who are exploring a move to Williamsburg, VA , Hampton Roads VA and the surrounding areas of the Virginia Peninsula. On his website you can search homes for sale , foreclosures, 55+ active adult communities, condos and town homes , land and commercial property for sale in Williamsburg, Yorktown, New Kent, Poquoson, and Gloucester, VA as well as surrounding markets of Carrolton, Chesapeake,Gloucester, Hampton, Isle of Wight, Portsmouth Mathews, Newport News Norfolk, Poquoson, Smithfield, , Suffolk, Surry, Va Beach, Yorktown and York County Virginia You can reach John by email John@MrWilliamsburg.com or phone @ 757-254-813

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    • From the Garden, May 22
      Trenching CeleryBlanched CeleryThe first of the spring celery has been transplanted to trenches for blanching. The ancient celery was of such a stringy and bitter nature that it would be virtually unpalatable if not for this process which much reduces the strings and sweetens the stems. The modern, or “self-blanching,” celery may be eaten green though it, to […]
    • New Podcast – Fifes and Drums: The Music
      Members of the Senior Corps of the Colonial Williamsburg Fifes and Drums play the tunes that directed a soldier through his day, from morning’s first light to the night’s last ale. Listen
    • From Our Kitchens: Chicken Pudding
      A favorite dish in its day, this chicken pudding combines elements of a quiche and a cake. Savory yet wholesome, this dish could easily become a favorite in your family, too. Learn More
    • From the Garden, May 15
      Transplanted melons under paper frame“Zatta” cantaloupeThis week we have moved the melons out of the hotbed frame and planted them in the garden under frames covered with oiled paper so that they may not be annoyed by the sun and wind before they have established themselves sufficiently to withstand the rigors of full exposure to the elements. It is of the u […]
    • New Podcast – Fifes and Drums: The Instruments
      Learn the history of the instruments behind the distinctive sound of the Colonial Williamsburg Fife and Drum Corps. Listen

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    Kingswood home for sale-Williamsburg VA

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Sweet spot for Williamsburg VA Real Estate

Posted on May 24, 2013 by mrwilliamsburg

So what’s the sweet spot for Williamsburg VA real estate ?. inquiring minds want to know..

Seems like we have a number of them : The 150-200k, 200-250k, 250-300k, and 350-400k price ranges each contribute about 14% of our total home sales or 56% combined.

Note: Sales number are from the Williamsburg VA MLS and correspond to sales from Jan 1,2013 To April 30, 2013

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Note: Sales number are from the Williamsburg VA MLS and correspond to home/ townhome/ condo sales from Jan 1,2013 To April 30, 2013

Are you interested in monitoring home value trends in your Williamsburg or Yorktown VA  neighborhood?  If you would like to receive e-mail alerts when new listings or sales happen in your neighborhood, we can set you up.  There is no cost or obligation to participate in our Nosy Neighbor  e-alerts, just let us know which neighborhood(s) you are interested in following, and we’ll make it happen! Fill out the form here

What’s my home worth ?

Mr Williamsburg offers a complimentary, no obligation market analysis of your Williamsburg VA home.  It’s a great way to get a handle on what your home might sell for in today’s market, with no obligation to list.  Call him today at 757,254,8136 or click here to request more info or an appointment.

Filed under: real estate, Real Estate Statistics, williamsburg va | Leave a Comment »

Williamsburg VA Real Estate Market Update: April Home Sales Soar Yet Again for April 2013

Posted on May 21, 2013 by mrwilliamsburg

April 2013 Market Observations

The Williamsburg VA  real estate market continues to demonstrate it’s incredible strength in April  2013 with home sales up a whopping 44% over the previous April.

The closed median home price in April 2013 for the Williamsburg  VA market , which includes the City of Williamsburg, James City County and Upper York County’s housing data, was $285,000 an increase of 9.4  percent from April 2012

Williamsburg Home Contract Activity

Contract activity, which is a leading indicator of home sales, continues to point in an extremely positive direction. This April was 13% above last year

With available inventory levels being less than a year ago, and robust contracted activity, the month’s supply of inventory is currently 8 months compared to over 13 months in April 2012. The month’s supply is also referred to as the absorption rate which indicates that if the current market conditions were to continue; this is how many months it would take to deplete the available inventory.

Williamsburg home sellers this month are experiencing an average 98.51 percent sales price to list price ratio. This average is a 2.36 percent increase over 2012.. The increase can be attributed to high demand and limited inventory.

Total inventory for sale is at 817 homes, a 23 percent decrease from the 1065 homes on the market in April of 2012 .The limited amount of inventory continues to inflate pricing and intensify demand for properties.

      The pace of closed sales increased dramatically this month showing a 26 percent reduction of days on market down to 67 days.

        image

         

        See real time data here for Williamsburg VA home sales statistics

         

        Click here for real time stats

        Read a detailed summary report for home sales in Williamsburg -March 2013

         

        What does this mean for you?  Well, we’ve had a strong market this year with steady home values and an increase in market activity.  If you’re thinking of selling anytime soon, consider going on the market to take advantage of the increased number of buyers, list prices, sales prices, and fewer days on the market before sale..

        Psst.I’m a real estate agent.

        Filed under: Real Estate Statistics, williamsburg va | Leave a Comment »

        What’s a typical water bill in Williamsburg VA

        Posted on April 25, 2013 by mrwilliamsburg

        A question I am often asked from folks considering a move to Williamsburg is “What do you pay for water and sewer in Williamsburg ?

        I think our household probably consumes an average amount versus others with four people in a home.  We have two teenage boys and wash a lot of clothes almost daily.

        Our average consumption is approximately 12,000 gallons quarterly, and our total water/sewer bill ranges from a low of $120 to a high of $145 in the summer. Note: we don’t do a lot of outdoor watering. If you do our rate increases with additional usage so be warned.

        Below is our actual quarterly billing going back to 2011..Not sure what happened with the low bill in Nov 2012. I guess our boys stopped taking showers !

         

        image

        Read about our electric bills here

        I will cover our typical cable, internet, phone, costs in a subsequent post.

        So what about your home, how much is your quarterly water bill where you live ?

        Filed under: Real Estate Search, williamsburg va | Leave a Comment »

        Top Home Buyer Regrets

        Posted on April 18, 2013 by mrwilliamsburg

        Trulia commissioned  a “Real Estate Regrets” survey which revealed interesting regrets from both home buyers and renters.

        Topping the survey:

        A. It’ll be better to buy now than next year.

        B. It’ll be better to sell next year than now.

        “A” is probably true — more buyers are entering the market, and inventory is tight and getting tighter. Further, there’s no clear sign of that letting up. 

        “B” is harder to call. Now is a great time to sell, but if inventory stays low we could be headed into a full-fledged sellers’ market next year. so maybe it will be better. It’s going to depend on local conditions, though.

        Here’s some more fun stuff from the survey: regrets.

        * Topping the list for buyers (34%) (and number two for renters): “I wish I had chosen a larger home.” This ranked as the biggest regret among home buyer surveyed

        * 27 percent of homeowners wish they had done more remodeling when they first bought. (Thank you HGTV)

        * 18 percent of homeowners wish they had put more money down, and 16 percent wish that they had been more financially secure. Very few homeowners  ( 1 percent )wish that they had borrowed more.

        For the full report check out Trulia Trends.

        image

        Filed under: real estate, williamsburg va | Leave a Comment »

        How’s the Williamsburg Real Estate Market March 2013

        Posted on April 13, 2013 by mrwilliamsburg

        After an astounding sales increase in Feb 2013  (40% over 2011) the Williamsburg home market is settling back down . Closed sales in our Williamsburg market ( 23185,23188 & 23168 zip codes)  are up slightly over 18% for the first quarter.  Pending sales are up just under 12%.  Both of these metrics (in addition to lower inventory) are great news for what seems to be a continually strengthening local market.

        What’s even more impressive is that our office is up almost 50% in closed sales (units) so far this year, and almost 60% in pending sales units.  To outperform the market at that margin is nothing short of PHENOMENAL!!

        image

        Home sales are off to a great start in 2013 here in the Williamsburg VA area. .We’ve seen an unseasonably high level of activity in the Williamsburg, VA area. ( James City County, City of Williamsburg and Upper York County) since the beginning of the year.

        With home inventory shrinking Williamsburg home buyers are having a tough time finding good quality homes to purchase. This is causing prices to rise.  If you’ve been thinking of selling, now may be a great time!

        I work both in Williamsburg VA and the greater Hampton Roads area. So the stats above are all reflective of the Williamsburg VA market . ( 23185,23188, 23168 zip codes) this incudes the City of Williamsburg, James City County and upper York County.

        Click here for real time stats

        What does this mean for you?  Well, we’ve had a strong market this year with steady home values and an increase in market activity.  If you’re thinking of selling anytime soon, consider going on the market to take advantage of the increased number of buyers, list prices, sales prices, and fewer days on the market before sale..

        Psst.I’m a real estate agent.

        banner_thumb1

        This post was authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of the Williamsburg/ Hampton Roads area and his expertise in the local real estate market.

        Thanks for stopping by my website. I would love to help you find your dream home and community in the Hampton Roads or Williamsburg area or to sell your existing home.

        I can help you access all the information you will need about choosing a neighborhood and buying a home in New Kent, Gloucester, Newport News, Hampton, York County, Smithfield, Williamsburg, Poquoson or the greater Hampton Roads area, including area information on schools, local government, shopping, activities for the children and more! Whether you have made a decision to relocate, retire or are just considering a move to Williamsburg or Hampton Roads VA, let me help make your transition or PCS to the area a smooth and enjoyable one!

        Hampton Roads is a transient community due to the large population of military members in the area. I have a unique perspective on relocation and have helped many families move in and out of the area. I understand the kind of support team it takes to make a smooth transition.

        Area Orientations

        Complete tours can be scheduled to help you familiarize yourself with Williamsburg and Hampton Roads neighborhoods, home prices, shopping centers, military bases, recreational facilities, public & private schools and transportation systems. My orientation will provide you with awareness of aircraft noise & accident potential zones, flood zones, major traffic patterns and commute times to your job.

        You can search homes for sale , active adult communities, 55+ communities, condos and townhomes ,foreclosures/ REO, land, building lots, commercial property in Williamsburg , Yorktown, New Kent, Gloucester, Poquoson as well as the surrounding areas of Hampton Roads, Virginia

        You can reach text or call me at 757-254-8136 or email John@MrWilliamsburg.com

        I look forward to serving your real estate needs!

        Best,

        John

        Filed under: Real Estate Statistics, williamsburg va | Leave a Comment »

        James City County offers free class for first-time homebuyers

        Posted on April 2, 2013 by mrwilliamsburg

        The James City County Office of Housing and Community Development will hold a First-Time Homebuyer class on Tuesday, April 16 and Thursday, April 18 from 6-9 p.m. at the Law Enforcement Center Community Room, 4600 Opportunity Way.

        Anyone who is currently purchasing a home or is considering a purchase in the future will benefit from this class. Topics covered include personal finances, credit and credit scoring, qualifying and applying for a loan, choosing the right home and what happens at a loan closing.

        For many applicants, a mortgage company requires them to complete a homebuyers class prior to loan approval.  Those who attend both sessions will receive a certificate of completion.

        Space is limited.  Please call 259-5340 to register.

        Filed under: real estate, williamsburg va | Leave a Comment »

        Value Range Marketing—What are you talking about ?

        Posted on March 21, 2013 by mrwilliamsburg

        Have you noticed any homes for sale showing up in multiple price searches with a description similar to this : Sellers will consider offers between $275,000 and $228,876, then you have been exposed to Value Range Marketing !

        How it’s supposed to work:

        A property is listed with a nod to a buyer’s preferred price — that is, the lower end of the range — and at the higher end of the range is the seller’s ideal price ( i.e. $275k to $325k) The range tells buyers that sellers will entertain offers between those numbers, and if a bid is made within the range, the negotiation process may begin.

        Range marketing

        “A lot of buyers ( and I) simply say ‘Why on Earth would I offer any more than the bottom end of the range?’ ” It has caused confusion and maybe that’s due to little explanation by the broker prior to offers. After making a solid offer that wasn’t accepted, some buyers have become confused and upset .Some buyers feel that if they’re making an offer within that range, it should be accepted.Some buyers feel like it is a bait and switch, where they are lured in with what looks like a decent price but then told they can’t have that price. So it affects everyone involved in the sale and can leave a lot of negative feelings.

        Some list agents use it as a crutch because they don’t want to list at the sellers desired price , knowing that buyers won’t bother to look at at with a price that’s out of line with comparable home values.

        The concept has come of age  most property searches. like realtor.com, Zillow, Trulia and area MLS’s . Properties with range pricing allow a property to come up in more searches. So a property range priced from 275k to 325k shows up when you search both the high and the low dollar amounts. Hence it does get more exposure showing up in multiple different price range searches.

        The theory is engage a buyer by getting them to submit an offer. Hopefully the buyer can then be moved upward to an amount acceptable to the seller.

        In other words there is no intention of selling a range priced home at the bottom of the scale. Seems a bit deceptive to me. ( and to most home buyers I work with)

        Supposedly the advantage of using value-range pricing in this market is “giving people the opportunity to think they have the chance to negotiate" .

        But I can tell you that buyer view range-pricing with great skepticism, and if they do make an offer, they look at the lower price, and want to go down from there.

        A review of the stats for homes sold in an out of state area shows it didn’t work very well in that market..

        Closed since January 1:

        120 not using range-pricing, averaging 73 days on market and 96% SP:LP

        28 on range pricing, averaging 78 days on market and 93% SP:LP

        Of the 28 that closed, ONLY SEVEN SOLD ABOVE the original low end of the range.

        It should occur to those touting the range-pricing that if some buyers are turned off by range-pricing, that is bad for the sellers!

        Check the stats, it isn’t producing the benefit you think it is.

        75% of recent solds closed below the original bottom of the range!

        Range-pricing is the lazy man’s way to pricing a home. Don’t risk alienating any buyers, hire an agent who can pinpoint the value.

        Read this article about Value Range Marketing in USA Today

        What about you ? What do you think ?

        Want to discuss marketing your home ?

        Filed under: real estate, williamsburg va | Leave a Comment »

        Buying a bank owned home in Williamsburg or Hampton Roads VA

        Posted on March 18, 2013 by mrwilliamsburg

        ForeclosureWith mortgage interest rates at record lows and single-family home affordability at an all-time high, there has never been a better time to buy. In the wake of the recent housing crisis, it’s increasingly common for prospective homebuyers to consider buying a real estate owned (REO) home – one that has gone through the foreclosure process and is owned by a bank or other institution. While the process for buying an REO is a lot like buying any other home, it’s important to understand what you should know before you buy.

        Real-Estate Owned (REO), or "bank-owned," properties for sale are not that prevalent in Williamsburg VA but are more common in the Southside of Hampton Roads area

        What is an REO or bank-owned home?

        As a prospective homebuyer, it’s more than likely that you are hearing about, or seeing, homes for sale that are referred to as “Foreclosures” "REO" or "bank-owned." Essentially, these properties are one and the same. They are homes that have been through the entire foreclosure process and are now owned by the lender. This means that the seller is the bank or an institution such as Freddie Mac.

        What should I know about buying an REO home?

        • Know your market. You may be able to find a "deal" when buying an REO home, but it’s more important than ever that your offer price is comparable with other homes in the neighborhood. Most banks and institutions can and will negotiate; however, the goal is to sell the home at or near current fair market value. Rely on your real estate agent for guidance. ( I will tell you that the market is heating up like crazy. The last bank owned home I made an offer on (last week) had 11 offers on it ! Competition is stiff.
        • Budget appropriately. Most REO homes are sold "as is," so you’ll need to consider the costs for renovation and/or repair and the time required to complete them. Most banks and institutions make necessary repairs and properly maintain the home after the foreclosure, but you may want to make some as well.
        • Inspect the home. Be sure to have the home inspected. This is an important step for any real estate transaction, but even more so for REO homes since they may have been vacant for a period of time.
        • Be ready. As with any real estate transaction, if you are a serious buyer and approved for financing, you need to be able to act quickly. If you see a home that you’d like to buy, the sooner you can make the offer the better. Many investors are interested in REO homes and they are often able to move fast.
          Freddie Mac’s First Look® Initiative gives owner-occupant homebuyers the ability to purchase a HomeSteps home during its initial 15 days of listing (30 days in Nevada) before investors may make offers. Search bank owned homes here.

        What is the buying process for REO homes?

        The buying process for REO homes is not much different than any other home. There are typically additional addendums and disclosures for REO homes, and your real estate agent will walk you through each of them.

        1. Get approved, or at least pre-approved. This is a critical step in any real estate transaction to help you determine how much home you can afford and show sellers that you’re a serious buyer.
        2. Reach out to a licensed rea estate professional and begin house hunting! You should consider a qualified real estate professional who has a proven track record in all types of transactions, including short sales and REOs. HomeSteps® works with a network of real estate agents from all over the country, many of whom are familiar with your local community.
        3. Contact Mr Williamsburg ( a bank owned specialist)
        4. Make an offer. Your real estate professional can work with you to determine a price that you believe is fair.

          Don’t forget the home inspection!

          Because REO homes are sold “as-is,” you should always have a home inspection to ensure you are financially prepared for any maintenance costs.

        5. Wait for approval. Your offer or counter offer, if applicable, will likely need to be reviewed and approved by several people and/or companies. Response times vary by bank or institution.
        6. Move forward with closing Once the offer is finalized, you will move forward just as you would with any real estate transaction.image

        Resources for Bank-owned Homes in Williamsburg or Hampton Roads VA

        Search Foreclosures For Sale

        You can search foreclosed , bank-owned homes/ REO in all of Hampton Roads VA with the links below. No registration required.  FREE

        Search Chesapeake VA Foreclosures

        Search Hampton , Newport News Foreclosures

        Search Isle of Wight Foreclosures

        Search Norfolk Foreclosures

        Search Poquoson Foreclosures

        Search Portsmouth Foreclosures

        Search Smithfield Foreclosures

        Search Suffolk Foreclosures

        Search VA Beach Foreclosures

        Search Williamsburg Foreclosures

        Search Yorktown Foreclosures

        Filed under: real estate, williamsburg va | Tagged: , | Leave a Comment »

        Housing is Back !

        Posted on March 2, 2013 by mrwilliamsburg

        t’s a fact: The housing sector continues to gain momentum. The National Association of Realtors reported in February that the national median existing single-family home price was $178,900 in the fourth quarter of 2012, up 10 percent from $162,600 in the fourth quarter of 2011.
        Trending Into 2013
        In December home prices rose again by 8.3 percent compared to a year earlier–the largest increase in more than six years, according to a CoreLogic report released early last month. It was also the tenth straight month of year-over-year increases. States seeing the biggest price increases were Arizona (up 20.2 percent), Nevada (up 15.3 percent) and Idaho at 14.6 percent. Only four states saw declines in home prices from last year: Pennsylvania, New Jersey, Illinois and Delaware.
        While the U.S. housing market has certainly headed into 2013 with home prices on the rebound, many wonder how long this upward trend will last. A surge in home prices generally forecasts an increase in home buying. Home buying revives the housing industry, which is a key indicator for measuring the U.S. economy’s progress and health.image
        Buyers Remain Selective to Price and Property
        Home prices not only surged due to tightening supply but also as a result of a decline in available foreclosures and distressed properties. This means more home buyers are choosing relatively more expensive and non-distressed properties. As a result existing home prices have increased, and in some areas substantially, during this time. The decline in distressed property sales should also have resulted in newly constructed homes being more competitively priced.
        Yet in many instances new home prices have increased in tandem with existing home prices. In some areas, this has caused buyers to experience low inventory and bidding wars for homes.
        Interest Rates Still at Record-Lows
        For 2013, the Federal Reserve has vowed to keep interest rates and home loan rates "exceptionally low" in an effort to spur economic growth and to shore up the housing markets. The Federal Reserve, or the Fed, is the central bank of the United States and regulates the U.S. monetary and financial system. It oversees four general areas: 1) Conducts monetary policy 2) Regulates banks and protects the credit rights of consumers 3) Maintains the stability of the financial system and 4) Provides financial services to the U.S. government.
        The Bottom Line
        As the economy strengthens from the housing comeback and other major reviving indicators such as manufacturing and trade, interest rates could rise. Great opportunities to purchase or refinance a home still exist, but fence-sitters should be advised as the path of least resistance for interest rates is higher, since they are currently at record lows.

        Filed under: Real Estate Statistics, williamsburg va | Leave a Comment »

        Why are there no photos of my home in the MLS ?

        Posted on March 1, 2013 by mrwilliamsburg

        imageHave you ever noticed a photo like the one on the left when you were looking at for homes for sale ? Ever wondered why ?

        Two reasons:

        1. Overzealous real estate agent who thinks by entering the info in the MLS the home will sell quickly. The problem with this method is thousands of home lookers get emails once a home is listed. Guess what most will do when they see the listing come thru without photos ?  Fuggetaboutit !

        2. The other reason this might happen ?  Laziness. You heard it right. The real estate agent can’t take the time to schedule a photographer to shoot the home or property before it hits the market.

         

        Read Why I use a professional photographer

        Mr Williamsburg believes in the power of professional photography. Every house that I list is marketed with professional photos, and I pick up the tab. So, is it worth the dough? It turns out that in most cases the answer is a resounding, “Yes!”

        Whether you are buying, selling or a home in Williamsburg, Yorktown or Hampton Roads VA , I  want to earn your business. I invite you to contact me with any questions that you may have regarding your next real estate transaction

        John Womeldorf

        John@MrWilliamsburg.com

        757 254 8136

        Filed under: real estate, Real Estate Statistics, williamsburg va | Leave a Comment »

        What is $521,700.00 ?

        Posted on February 25, 2013 by mrwilliamsburg

        Any idea what that number represents? 

        It’s the total marketing expenditures for our company ( Liz Moore and Associates)  in 2012.

        Pretty big number for a 2 office boutique real estate brokerage.  And a primary reason for our success. (Number one position in the market place for our two offices both here in Williamsburg VA and in Newport News)

        So what is your real estate company spending on marketing ?  Maybe its time to ask.

        Filed under: real estate, Real Estate Statistics, Selling a home in Williamsburg VA | Leave a Comment »

        Why is the seller asking more than assessed value ?

        Posted on February 24, 2013 by mrwilliamsburg

        Most of the home buyers I work with in the Williamsburg Area will typically use the James City County, Williamsburg or York County Va assessed value as a basis when determining what price to offer on a home they are purchasing. While you would think its an accurate indicator the recent sales numbers will disagree. ( SEE THE CHART BELOW FOR PROOF)

        Many consumers confuse assessments and appraisals. An assessment is the value placed on a property by the county or city’s assessor’s office for the purpose of determining the property taxes due. The city or county determines your assessed value and an appraiser determines your appraised value. In James City County property is assessed biannually by the Real Estate Assessments Division . Virginia State law requires that assessments be at 100 percent of fair market value. With reassessments only occurring every tow years it takes a while for them to catch up to market pricing.

        An appraisal is a report done by an appraiser to determine value.  The appraiser will use recently sold prices ( going back 90 days or  a maximum of six months in some cases) of similar properties making adjustments for differences between the subject property and the comparable.

        Assessed value and appraised value will usually not be exactly the same on a property as the appraised value takes a snapshot in time and will be impacted by market activity.

        Below is a  report for home sales in Governors Land, Williamsburg VA. It shows both the sold price and the James City County Assessed Value. You can see that sale prices ranged from 34% below assessed value to 34% above assessed value. With no rhyme, reason or formula between them.

        assesed value versus sales prices james city county va

        One thing to consider, the James City County assessor has most likely NEVER been inside the home. A home in the upper price range could have drastic differences in trim, finish levels and upgrades. In many instances homes were sold with unfinished bonus rooms or basements. If homeowners finished then off later without permits the county will not factor that in to assessed value. Its common to see square footage errors in county records as well.

        Before buying (or selling) it is wise to do some homework and look at what similar homes in the neighborhood sold for . A real estate agent ( ME) can supply you with detailed information on comparable sales and can give you a pretty good idea what homes are worth in your area.

        Of course, the ultimate solution is to have an appraisal done by a professional appraiser. If you purchase a home  the lender will require one. Our company orders them for all of our listings to insure we don’t have appraisal issues at closing. ( a common occurrence these days)

        Filed under: Real Estate Statistics, williamsburg va | Leave a Comment »

        Who sold more Fords Colony real estate in 2012 ?

        Posted on February 16, 2013 by mrwilliamsburg

        Bragging Rights !

        It seems there are many real estate brokers  in the area that claim to be  #1 this and #1 that. I felt it was time to set the record straight. Drum roll please.

        The NUMBER #1 Brokerage for sales and listings in Fords Colony in 2012 was Liz Moore and Associates. With an astounding 31.98% market share, we sold or listed one of every three homes in the community in 2012.

        The runners up for 2012 in second and third place were William E Wood and Fords Colony Realty who had a COMBINED share of 28% .

        Our company had sales greater than the combined totals for the offices in 4th, 5th, 6th, 7th, 8th, 9th, and 10th place combined.

        image

         

        Click here to see all detached homes for sale in Fords Colony

        Click here to see all townhomes, attached homes and condos for sale in Fords Colony

        Download a detailed sales report for Fords Colony showing all homes sold in 2012

        Download sales statistics for Fords Colony in 2012 here

        What does this mean for you?  Well, we’ve had a strong market this year with steady home values and an increase in market activity.  If you’re thinking of selling anytime soon, consider going on the market to take advantage of the increased number of buyers, list prices, sales prices, and fewer days on the market before sale..

        Psst.I’m a real estate agent.

        This post was authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of the Williamsburg/ Hampton Roads area and his expertise in the local real estate market.

        Thanks for stopping by my website. I would love to help you find your dream home and community in the Hampton Roads or Williamsburg area or to sell your existing home.

        I can help you access all the information you will need about choosing a neighborhood and buying a home in New Kent, Gloucester, Newport News, Hampton, York County, Smithfield, Williamsburg, Poquoson or the greater Hampton Roads area, including area information on schools, local government, shopping, activities for the children and more! Whether you have made a decision to relocate, retire or are just considering a move to Williamsburg or Hampton Roads VA, let me help make your transition or PCS to the area a smooth and enjoyable one!

        Hampton Roads is a transient community due to the large population of military members in the area. I have a unique perspective on relocation and have helped many families move in and out of the area. I understand the kind of support team it takes to make a smooth transition.

        Area Orientations

        Complete tours can be scheduled to help you familiarize yourself with Williamsburg and Hampton Roads neighborhoods, home prices, shopping centers, military bases, recreational facilities, public & private schools and transportation systems. My orientation will provide you with awareness of aircraft noise & accident potential zones, flood zones, major traffic patterns and commute times to your job.

        You can search homes for sale , active adult communities, 55+ communities, condos and townhomes ,foreclosures/ REO, land, building lots, commercial property in Williamsburg , Yorktown, New Kent, Gloucester, Poquoson as well as the surrounding areas of Hampton Roads, Virginia

        You can reach text or call me at 757-254-8136 or email John@MrWilliamsburg.com

        I look forward to serving your real estate needs!

        Best,

        Filed under: Ford's Colony, real estate, Real Estate Statistics | 2 Comments »

        Fords Colony Real Estate Market Turns Around in 2012

        Posted on February 10, 2013 by mrwilliamsburg

        fords colony williamsburg vaWhat a difference a year makes for home sales in Fords Colony, Williamsburg VA !

        At the beginning of 2012 the unsold home inventory in Fords Colony stood at almost a 17 month supply. As of today it is almost at six months, WOW. ( six months is considered a balanced market. Under six months is a sellers market)

        This makes it the number one most improved neighborhood market in the James City County, Williamsburg VA area..

        It almost feels like 2005 again with a number of homes selling within a few days and multiple offers coming in on a number of listings.

        From a low of 78 sales in 2011,the total number of homes sold soared 56% in 2012 to  118 homes.

        In 2012 there were 19 homes in Fords Colony that sold in 10 days or less. 45 homes sold in 45 days or less. Basically if a homes comes on the market in Fords Colony that is realistically priced and is decent condition they are selling in a very short period.

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        A few highlights for 2012:

        Median days on market has dropped from 345 to 73 days !

        The number of homes on the market has dropped from 112 in Jan 2012 to 88 in Jan 2013  (21% drop)

        8 home sales have closed in 2013 so far compared to 3 in January 2012 ( 166% increase)

        A number of price categories had tremendous jumps in sales activities. Sales for homes priced from 350k to 400k increased 78% from 14 sales in 2011 to 25 sales in 2012. From 450k to 500k the number of homes sold soared 89% from 9 to 17.

        500k to 550k jumped 45%. 600k to 700k home sales increased 66% from 6 to 10. The upper end is starting to move again as well . There were 4 sales over $900k in Fords Colony in 2012 versus only 2 in 2011

        List prices are increasing in 2013. The median list price has jumped 10% from $454,500 to $500k.. Although median sales prices dipped from $487,500 in 2011 to 479k in 2012. It is steadily increasing in the last 12 months. We will most likely see a 10% increase in median sales prices this year due to the low inventory of home.

        Percentage discounts from list price ranged from 84% to 1.03 percent. Yes, that’s correct buyers paid more than list price. The median discount has been 96% from list price . This has risen to 98% in the last 3 months. We are seeing a number of offers coming in at list price. In this price range fewer buyers are asking for closing costs. Most simply pay them own.

        So, what does this mean to you as a buyer ? Expect to pay more , make an offer quickly if you want the home, expect competing offers on nice homes that are priced reasonably.

        If you are Fords Colony homeowner thinking of selling , maybe now is the time !. I would be happy to chat if you so desire..

        Click here to see all detached homes for sale in Fords Colony

        Click here to see all townhomes, attached homes and condos for sale in Fords Colony

        Filed under: Ford's Colony, James City County Williamsburg VA Neighborhoods, Real Estate Statistics, Selling a home in Williamsburg VA | Leave a Comment »

        How’s the real estate market in Williamsburg ? Jan 2013

        Posted on February 7, 2013 by mrwilliamsburg

        home sales statistics williamsburg vaFirst things first , these stats will improve as brokers update closing info from the end of Jan 2013.

        Home sales are off to a great start in 2013 here in the Williamsburg VA area. .We’ve seen an unseasonably high level of activity in the Williamsburg, VA area. ( James City County, City of Williamsburg and Upper York County) since the beginning of the year.

        But buyers are having a tough time finding good quality homes to purchase. This is causing prices to rise.  Median home prices were up 18.79% compared to a year ago, which is a continuation of a trend we have seen for several months now.  If you’ve been thinking of selling, now may be a great time!

        image

         

        Here are some of the highlights of the Jan 2013 real estate market statistics for Williamsburg

        * Closed sales are up almost 26.92%.  We’ve sold 66 homes through the end of January 2013 as compared to 52 in January 2012.

        * Pending sales are up almost 22% !.

        * The median list price is up 4% from $287,000 to $299,000

        * The median sales price is up 18.79% from $243,000 to $289,250.

        * Homeowners are getting an average of 96.75% of  list price when they sell. ( so a home listed at $100k is selling for $96,750)

        * The number of days a home spends on the market is down from 81 to 78.

        * Number of homes for sale: We only have 728 homes for sale ( a 20% reduction from last year)  giving us 7.62 months of inventory on the market (down from 11.69 months of supply in Jan 2012).

        Click here for real time stats

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        What does this mean for you?  Well, we’ve had a strong market this year with steady home values and an increase in market activity.  If you’re thinking of selling anytime soon, consider going on the market to take advantage of the increased number of buyers, list prices, sales prices, and fewer days on the market before sale..

        Psst.I’m a real estate agent.

        This post was authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of the Williamsburg/ Hampton Roads area and his expertise in the local real estate market.

        Thanks for stopping by my website. I would love to help you find your dream home and community in the Hampton Roads or Williamsburg area or to sell your existing home.

        I can help you access all the information you will need about choosing a neighborhood and buying a home in New Kent, Gloucester, Newport News, Hampton, York County, Smithfield, Williamsburg, Poquoson or the greater Hampton Roads area, including area information on schools, local government, shopping, activities for the children and more! Whether you have made a decision to relocate, retire or are just considering a move to Williamsburg or Hampton Roads VA, let me help make your transition or PCS to the area a smooth and enjoyable one!

        Hampton Roads is a transient community due to the large population of military members in the area. I have a unique perspective on relocation and have helped many families move in and out of the area. I understand the kind of support team it takes to make a smooth transition.

        Area Orientations

        Complete tours can be scheduled to help you familiarize yourself with Williamsburg and Hampton Roads neighborhoods, home prices, shopping centers, military bases, recreational facilities, public & private schools and transportation systems. My orientation will provide you with awareness of aircraft noise & accident potential zones, flood zones, major traffic patterns and commute times to your job.

        You can search homes for sale , active adult communities, 55+ communities, condos and townhomes ,foreclosures/ REO, land, building lots, commercial property in Williamsburg , Yorktown, New Kent, Gloucester, Poquoson as well as the surrounding areas of Hampton Roads, Virginia

        You can reach text or call me at 757-254-8136 or email John@MrWilliamsburg.com

        I look forward to serving your real estate needs!

        Best,

        John

        Filed under: Real Estate Statistics, williamsburg va | Leave a Comment »

        Can you guess the list price of this Williamsburg home ?

        Posted on January 29, 2013 by mrwilliamsburg

        imageOur company is running a fun contest, and I know everyone loves Opus 9 restaurant in New Town.

        The challenge : Guess the list price of an upcoming listing for a home I will be putting on the market in Williamsburg VA

        The prize: the winner whose guess is closest to the actual list price will win lunch at Opus  9. In the case of a tie, the correct guess submitted first will win. All winners will be notified via e-mail

        guess the list price of this williamsburg home

        This spectacular one of a kind property features 8500 square feet of luxurious living, soaring 35’ ceilings, stunning kitchen with professional grade appliances, 5 bathrooms, and additional fireplaces in the keeping room and mater suite.

        To play click here  and guess the list price of the house being featured.  We change them out every few weeks, so there are multiple chances to win. 

        imageRules: When the property officially goes on the market, the winner whose guess is closest to the actual list price will win the prize described above. In the case of a tie, the correct guess submitted first will win. All winners will be notified via e-mail. Sellers, Liz Moore agents and staff are not eligible to win. One vote per e-mail address per property contest.

        Psst.I’m a real estate agent.

        This post was authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of the Williamsburg/ Hampton Roads area and  his expertise in the local real estate market.

        I can help you access all the information you will need about choosing a neighborhood and buying a home in New Kent, Gloucester, Newport News, Hampton, York County, Smithfield, Williamsburg, Poquoson or the greater Hampton Roads area, including area information on schools, local government, shopping, activities for the children and more! Whether you have made a decision to relocate, retire or are just considering a move to Williamsburg or  Hampton Roads VA, let me help make your transition or PCS to the  area a smooth and enjoyable one!

        Hampton Roads is a transient community due to the large population of military members in the area. I have a unique perspective on relocation and have helped many families move in and out of the area. I understand the kind of support team it takes to make a smooth transition.

        Area Orientations

        Complete tours can be scheduled to help you familiarize yourself with Williamsburg and Hampton Roads neighborhoods, home prices, shopping centers, military bases, recreational facilities, public & private schools and transportation systems. My orientation will provide you with awareness of aircraft noise & accident potential zones, flood zones, major traffic patterns and commute times to your job.

        You can search homes for sale , active adult communities, 55+ communities, condos and townhomes ,foreclosures/ REO,  land, building lots, commercial property  in Williamsburg , Yorktown, New Kent, Gloucester, Poquoson as well as the surrounding areas of Hampton Roads, Virginia @ www.MrWilliamsburg.com

        You can reach me by phone at 757-254-8136 or email  John@MrWilliamsburg.com

        Filed under: real estate, Real Estate Search, williamsburg va | Leave a Comment »

        Online real estate searches grow 253%

        Posted on January 17, 2013 by mrwilliamsburg

        Real estate-related searches on Google.com have grown 253 percent over the past four years, according to a joint study from the National Association of REALTORS® and Google.

        image“Increasingly, online technologies are driving offline behaviors, and home buying is no exception,” said Google Head of Real Estate Patrick Grandinetti. “With 90 percent of home buyers searching online during their home buying process, the real estate industry is smart to target these people where they look for and consume information—for example through paid search, relevant websites, video environments, and mobile applications.”

        The Digital House Hunt: Consumer and Market Trends in Real Estate leverages NAR’s custom research and Google’s proprietary and third-party research. Google’s research focused on consumers who had completed an online “conversion”– taking the next step of contacting an agent or requesting additional information from a real estate company’s website.

        The study uncovered these trends in buyers who search for homes online:

        • In the beginning of their search, buyers rely on search engines, moving toward maps in the middle of the process, and engaging mobile applications most toward the end of their search.
        • First-time buyers frequently searched terms such as “FHA loan,” “FHA,” “home grants,” “home loan,” and “home buyer assistance.” Last year, more than four out of 10 first-time buyers purchased their homes with a Federal Housing Administration-insured mortgage.
        • Queries related to retirement homes were highest in Nebraska, North Carolina, Oregon, Virginia, and Washington.
        • Searches on numbers of bedrooms/bathrooms, square footage, garages, HVAC systems, and swimming pools accounted for 70 percent of all searched features on REALTOR.com.
        • Of those who used a mobile device in their home search, 48 percent did so to get directions to homes for sale, and 45 percent used the device to request more information about home features or real estate services.

        According to NAR’s most recent Profile of Home Buyers and Sellers, multiple listing service websites and REALTOR.com were the top two websites used in online home searches. NAR reports that search activity on REALTOR.com has increased 31 percent nationwide between March and October 2012.

        Source: National Association of REALTORS®

        Filed under: real estate, Real Estate Search, williamsburg va | Leave a Comment »

        Williamsburg VA Real Estate Market heads upward !

        Posted on January 15, 2013 by mrwilliamsburg

        Our Williamsburg Area Association of Realtors has just released the latest report showing stats for sales in our area, for Year Ending 2012. Our Williamsburg Area Association of Realtors has just released the latest report showing stats for sales in our area, for Year Ending 2012.

        This report gives us a good idea of the current Real Estate Market in the greater Williamsburg Area which is comprised of the City of Williamsburg, James City County, and the upper portion of York County. The corresponding zip code regions are 23185,23188 and 23168. Remember to discuss specific market conditions with your Realtor.

        Williamsburg VA Area Year-End 2012 Highlights:
        • Overall sales in Greater Williamsburg were up 20.71% over 2011, resulting in largest year-over-year increase in six years.
        • Active inventory to close 2012 was at the lowest level since year-end 2005 and down almost 15% from year-end 2011.
        • Median sales price for the region  was up 2.27% over -2011 to $283,000
           
        • Months supply of inventory was down a whopping 29.40% to 7.94. ( a balanced market is 6-7 so we are almost there)
        • New Listing in this area for the month of December yielded 146 available resale dwellings. This was a decline of 21.93% or 41 units in comparison to December 2011

        Filed under: real estate, Real Estate Statistics, williamsburg va | Leave a Comment »

        How’s the real estate market in Williamsburg ?

        Posted on December 18, 2012 by mrwilliamsburg

        November 2012-As a real estate agent in Williamsburg, the most often asked question of me is “How is the market ?

        Can you say fantastic ? that would be the word I use to describe the real estate market in Williamsburg VA. Can you believe we had an 80% increase in sales from November 2011 as compared to November 2012 ?

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        December started off with a bang, offers flying left and right. Wow, who would have expected it. December is usually pretty tame especially the last 2 weeks. This year we got slammed early, although we still expect the rest of December to be flat with the holidays happening. In the first 10 days of December our office has done has much business as it did in all of December 2011 !

        We were seeing some hesitation among buyers with regard to the situation in Washington and the pending "Fiscal Cliff". Now that the elections are over buyers are flocking back to the market.

        The statistics below are from the Williamsburg Multiple Listing Service (MLS) They cover all detached and attached homes in the zip codes 23168, 23185 and 23188 in the James City County, City of Williamsburg and upper York County Virginia areas.

        Below are just a few highlights for the month of November 2012:

        November 2012 | Williamsburg Real Estate Market Update Statistics

        • 108 – Single-family homes sold, a whopping 80 percent more than November 2011.
        • $272,750 – Median price for single-family homes, down 6.35% from $291,250 in November 2011.
        • 94 – Average number of days single-family homes spent on the market, 12 days fewer than November 2011.
        • 9.16 – Months of inventory* of single-family homes, 3.49 months less than November 2011.
        • 22.43%- Year to date sales are up 22.43% with 1037 home sales through the end of November 2012 as compared to 847  through the end of September 2011.
        • 97.37 %-Homeowners are getting an average of 97.37 of their list price when they sell.

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        What does this mean for you?  Well, we’ve had a strong market this year with steady home values and an increase in market activity.  If you’re thinking of selling anytime soon, consider going on the market soon to take advantage of the increased number of buyers, low interest rates, and fewer days on the market before sale. Interest rates are AMAZINGLY LOW. Bankrate.com national average for a 30 yr fixed mortgage is only 3.38%. These low interest rates and low housing costs continue make Housing Affordability at historic lows

        The low inventory level is definitely our biggest challenge for Buyers. Supply is dropping and demand is still high. Buyers, when looking for homes be “ready to buy” with a preapproval letter from your lender in hand. If you find the home that meets your needs, “act quickly” as there are others buyers that probably like the same home you do. You can’t think too long, or that house will be gone.

        If you are thinking of selling, please give me a call so we can determine the best strategy for putting your home on the market.

        Click here to contact John by email, or call him at 757-254-8136.

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        Filed under: Real Estate Statistics, williamsburg va | Leave a Comment »

        What to Look For & Look Past While House Hunting

        Posted on November 28, 2012 by mrwilliamsburg

        Thought I would share this great post about buying an older dated home from the folks at Young House Love.com.

        Here in the Williamsburg VA area there are a number of homes that seem to languish on the market due to their need for updating. Most buyers will simply rule them out right off the bat saying they aren’t up to “fixing-up” a house.

        For those that appreciate older homes its an opportunity to capitalize on some very unique homes at great prices.

        Q: I have a house-hunting question for you. What do you look for? What do you look past? Help! My main complaint of all the older homes that we’re looking at in our price range is that they all feel dated, but that seems to be what you guys look for. How do you know which dated houses are worth buying and which ones are lost causes? I keep worrying we’ll end up in a money pit! – Aviva (not the one from Housewives of NY).

        A: First of all, I’m glad you clarified that you’re not NYC Aviva. Haha. And second of all, we actually get this question a lot. So when it comes to what we “look past” in a house (and what we pay attention to) my general answer is to never be deterred by the following things:

        • baaaad paint on the walls or the trim
        • nasty wallpaper (borders, or entire walls)
        • dated or not-your-style furniture
        • ugly curtains
        • dark brick or paneling
        • not-your-cup-of-tea light fixtures
        • green/blue/pink toilets

        imageFor example, here are a few before photos of our first house to further demonstrate how off-putting those dated features can be… but we all know they can be remedied with a little elbow grease if you’re a willing DIYer:

        Read the rest of the story here on Young House Love.com

        click here to search older homes in the Williamsburg, Yorktown VA area.

        Filed under: Real Estate Search, Selling a home in Williamsburg VA, williamsburg va | Leave a Comment »

        First Time Home Buyer Club-James City County

        Posted on November 26, 2012 by mrwilliamsburg

        james city county home buyer clubOn Thursday, November 29, at 6 pm, James City County Housing and Community Development Office will hold an Orientation for the upcoming 2013 Homebuyer Club at the Liz Moore Realty Office at 5350 Discovery Park Blvd in New Town. The Homebuyer Club is a year-long program which will help members prepare for homeownership. The Orientation will provide detailed information to help attendees determine whether they will benefit from joining the Club.

        During the year Club members will learn about: Developing a Spending Plan & Saving Goals, Calculating the Income Needed for Homeownership, Understanding Credit and Your Credit Score, Working with a Real Estate Agent and Lender, and Learning about Insurance and the Loan Closing.

        imageMonthly classes will be offered on the following evenings from 6-7:30 pm January 10, February 12, March 14, April 11, May 9, June 13, July 11, August 8, September 12, October 10, November 14, December 12. The Orientation and monthly classes will be held at the Liz Moore Realty Office in New Town. The classes are free and open to area residents. Space is limited and registration is required for the Orientation. To register of for more information, call 757-259-5340.

        Filed under: First Time Home Buyers, Real Estate Search, williamsburg va | Leave a Comment »

        Where are the single female home buyers ?

        Posted on November 20, 2012 by mrwilliamsburg

        Dual-income couples are a major factor in the nation’s housing market’s recovery, according to the latest numbers from the National Association of REALTORS®.

        According to recently released 2012 Profile of Home Buyers and Sellers, married couples with dual incomes now make up 69 percent of all home buyers. That’s the highest percentage this group has claimed since 2001.

        At the same time, only 16 percent of recent home buyers were single females. That’s this group’s lowest percentage since 2001.

        65 percent of recent home buyers were married couples—the highest share since 2001. Conversely it was the lowest share of single buyers since 2001. Two years ago, just 58 percent of buyers were married.

        For most home buyers, the purchase of real estate is one of the largest financial transactions they will make. Buyers purchase a home not only for the desire to own a home of their own, but also because of changes in jobs, family situations, and the need for a smaller or larger living area.

        Here are a few other highlights from the latest report.

        • 39 percent of recent home buyers were first-time buyers. That is up 2% from last year, and only one point away from the norm.
        • 79 percent of buyers said that they used the internet frequently during the search process, a little more than the 74% last year. In 2003 that number was only 42%.
        • The typical home buyer searched for 12 weeks and viewed 10 homes—a decline from 12 homes in prior year, which speaks to the tightened inventory in many areas.
        • 89 percent of buyers purchased their home through a real estate agent or broker, similar to last year’s report—a share that steadily increased from 69 percent in 2001.
        • 88 percent of home sellers were assisted by a real estate agent when selling their home.

        imageBuyers use multiple sources of information in the process of looking for a home. Far and away the most used sources are the internet (90%) and real estate agents (87%). What is the third most used information source? Yard signs (53%).

        Multiple Listing Service (MLS) websites were the primary source of information for buyers who used the internet in their search process. 54 percent of those buyers went to MLS sites. Of course, many went to a variety of different sites. 51 percent used Realtor®.com, 39% went to real estate company websites, and 47% went to sites hosted by individual agents. Aggregators such as Zillow, Homegain, and Yahoo were visited by 27% of buyers.

        Despite all the buzz about using social networking sites like  Facebook and Twitter, only 1% of buyers used them as a source of information about available properties; and only 1% used video hosting sites such as YouTube.

        imageThe differences in a decade are fascinating. In 2001, 48 percent of buyers learned about their home through a real estate agent, and only 8 percent found their home on the internet.  This year the information 47% of buyers found their home in the internet.

        Print media is almost dead . In 2001, 7% of homebuyers found the home they ultimately purchased through a newspaper ad; in 2012, it was only 1%. Less than 1%  found their home through a home book or magazine.

        Some 30 percent of buyers said the biggest reason people buy a home is the simple desire to own a home of their own. That included 60 percent of first-time buyers.  The next biggest reasons for buying were desire for a larger home, cited by 11 percent of respondents; a job-related move, 9 percent; a change in family situation, 8 percent; and the affordability of homes, 7 percent.

        The report also mentions heating and cooling costs, and the financial burden of commuting, as top factors for 87% of home buyers.

        2012 NAR Profile of Home Buyers and Sellers

        Filed under: Real Estate Search, Real Estate Statistics, williamsburg va | Leave a Comment »

        New off campus housing website for W&M launches

        Posted on November 14, 2012 by mrwilliamsburg

        imageThanks to an innovative bunch of business students at William and Mary I now have a place to send all the students who contact me  looking for off campus housing .

         Zilify, has launched and is ready to help W&M students find off campus housing.

        Together the founders spent countless hours aimlessly driving around campus hoping to find properties with “For Rent” signs. Add to that  multiple months Googling every key word about Williamsburg housing, and an entire year trying to convince people to give us their landlord’s name and phone number. After much frustration the Zilify founders decided create a website to simplify the process.

        After endless brainstorming, Zilify was born as a new way for students to find all of the best local housing options, without the unnecessary headache. Every property posted on Zilify has gone through an extensive review process, and has been hand selected by their team as one of the best off-campus places to live.

        Users can now create a Zilify account and browse nearby residences for rent. By entering a price range and a number of occupants, you can view properties with corresponding minimum prices.

        In addition to price listings, Zilify provides students with pictures, owner specifications and a downloadable copy of the house’s lease.

        Thanks to an innovative bunch of business students at William and Mary I now have a place to send all the students who contact me looking for off campus housing .The process is simple .

        1. First you create a profile. That allows you to search all of the properties, but to see more details about properties and submit offers to landlords you do need to pay a one-time $5 membership fee.

        2. Search for properties using filters such as distance from campus, laundry availability, and what sort of parking  each property offers.

        3. Once you find a property you and your roommates like, take a look at the lease and amenities it has to offer. Then enter your offer and the number of tenants you expect to live with. Don’t worry, you can make as many offers as you want, and the offers are non-binding.

        4. Now the landlords will get back to you. Zilify will then pass along your contact information to the landlords. The landlord will then call or e-mail you to talk more about your offer.  The platform is similar to eBay in that others can also submit bids to lease a property so keep an eye on the highest offer for the property if you want to insure you are selected as the tenant.

        If you are a local Williamsburg landlord that wants to want to market your house on Zilify you can contact them here

        The Zilify Team is composed of :

        Hank Couture Co-CEO/Co-Founder .

        A senior at the College of William & Mary, majoring in Finance and Economics with a concentration in Accounting. Last summer Hank was a summer analyst at Goldman Sachs in New York. He has also spent time working with Thinknear, a Los Angeles based technology start-up.

        Todd Saunders Co-CEO/Co-Founder .

        A senior at the College of William & Mary, Todd is a Marketing major with a concentration in Entrepreneurship. Todd spent the summer working in Regional Sales Management for AOL in New York. He also has experience in Business Operations for Triton Digital.

        Chris Crisalli VP of Sales & Marketing

        Another senior at the College of William & Mary, Chris is majoring in Marketing with a concentration in Entrepreneurship. As a diehard hockey fan, Chris worked in digital marketing last summer for the New Jersey Devils hockey team in Newark, NJ.

        Noah Willard UI/UX Designer

        Noah is a sophomore at the College of William & Mary, majoring in Government. When he is not working on Zilify, he spends his time as the Chief Product Officer of Photorankr, an online social marketplace for photography. Last summer he worked on PhotoRankr with the other co-founders in Nashville.

        Filed under: Apartments, Real Estate Search, williamsburg va | Tagged: | Leave a Comment »

        CoreLogic: national home prices continue to inch upward

        Posted on November 7, 2012 by mrwilliamsburg

        CoreLogic released its September 2012 Home Price Index  report which showed home prices nationwide, including distressed sales, increased on a year-over-year basis by 5 percent in September 2012 compared to September 2011. This change represents the biggest increase since July 2006 and the seventh consecutive increase in home prices nationally on a year-over-year basis.  .

        “Home price improvement nationally continues to outpace our expectations, growing 5 percent year-over-year in September, the best showing since July 2006,” said Mark Fleming, chief economist for CoreLogic. “While prices on a month-over-month basis are declining, as expected in the housing off-season, most states are exhibiting price increases.  Gains are particularly large in former housing bubble states and energy-industry concentrated states."

        “Home prices are responding to better market fundamentals, such as reduced inventories and improved buyer demand,” said Anand Nallathambi, president and CEO of CoreLogic. “So far this year, we’re seeing clear signs of stabilization and improvement that show promise for a gradual recovery in the residential housing market.”

        Highlights as of September 2012:

        • Including distressed sales, the five states with the highest home price appreciation were:  Arizona (+18.7 percent), Idaho (+13.1 percent), Nevada (+11.0 percent), Hawaii (+8.9 percent) and Utah (+8.7 percent).
        • Including distressed sales, the five states with the greatest home price depreciation were: Rhode Island (-3.5 percent), Illinois (-2.3 percent), New Jersey (-1.8 percent), Alabama (-1.3 percent) and Delaware (-0.5 percent).
        • Excluding distressed sales, the five states with the highest home price appreciation were: Arizona (+14.0 percent), Idaho (+10.5 percent), Nevada (+9.5 percent), Montana (+8.5 percent) and California (+8.4 percent).
        • Excluding distressed sales, this month only four states posted home price depreciation: Alabama (-3.1 percent), New Jersey (-1.6 percent), Delaware (-1.4 percent) and Rhode Island (-1.3 percent).
        • Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to September 2012) was -27.0 percent. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -20.4 percent. 
        • The five states with the largest peak-to-current declines, including distressed transactions, are Nevada (-53.9 percent), Florida (-44.7 percent), Arizona (-41.7 percent), California (-37.2 percent) and Michigan (-35.0 percent).
        • Of the top 100 Core Based Statistical Areas (CBSAs) measured by population, 18 are showing year-over-year declines in September, nine fewer than in August.

        Full-month September 2012 national data can be found at http://www.corelogic.com/HPISeptember2012.

        Filed under: Real Estate Statistics, williamsburg va | Leave a Comment »

        Developer proposes town homes in place of condos for Williamsburg VA site.

        Posted on October 26, 2012 by mrwilliamsburg

        Parkway Partners LLC, a local developer is asking the  Williamsburg Planning Commission to allow it to build town homes instead of the originally approved condos for a 3.5 acre site on Parkway Drive.

        The planning commission will hold a public hearing on Wednesday, November 14, 2012, 3:30 P.M. in the Council Chambers of the Stryker Building, 412 North Boundary Street, to consider the request of Parkway Partners LLC to amend the zoning proffers for 222 Parkway Drive.

        This property is zoned RM-2 Multifamily Dwelling District Conditional and was  approved in 2004  for a 46 unit condominium building.The original approved plans called  for a single four story 46-unit brick condominium building with enclosed parking on the ground floor, and three stories of condominiums above.The project has not been built.

        image

        The developer indicated that the proposal is  in response to the current economy and general marketability of condos.

        This proposal significantly reduces the density as originally originally proposed Surprisingly the proposal asks that the number of dwelling be reduced from 46 condos to 30 town homes .

        The City’s Architectural Review Board approved  a conceptual  plan and building elevations in August 2012

        Pictured below are the new proposed elevations showing three story townhomes with front facing garages. Similar to what was built in Liberty Crossing by Ryan Townhomes. At this time no builder has been announced.

        The original proposal called for restricting rentals to 15% of the 46 condos. The new proposal asks for 10 of the 30 units to be allowed to be rented.

        New proposed elevations for townhomes

        image

        Location map of proposed townhomes in Williamsburg VA

        image

         

        New proposed site plan

        image

        Filed under: real estate, williamsburg va | Leave a Comment »

        Print is dead

        Posted on September 28, 2012 by mrwilliamsburg

        I just received this email  from the owner and publisher of the local Homes and Land magazine publisher. For 32 years they have printed and a peninsula and a Williamsburg VA edition showcasing local homes for sale.At one time these were 60+ page publications.

        Dear Valued Advertiser,
        It is with great sadness that I write this letter to inform you that, effective immediately, I will discontinue publishing Homes & Land of Newport News/Hampton and Homes & Land of Historic Williamsburg. As you all know, the economy has had a great impact on the Real Estate market over the past several years. In spite of my best efforts, it is no longer financially feasible to continue these publications, and I will be enjoying a much needed retirement.
        I would like to thank each and every one of you for advertising with me throughout the last 32 years. It has been a great pleasure to work with you, and to be of service to you. I wish each of you the best in your future endeavors.
        Sincerely,
        Lawrence Carr, Jr.

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        Foreclosure settlement spawning mortgage scams

        Posted on September 27, 2012 by mrwilliamsburg

        VA Attorney General Ken Cuccinelli announced this week that claim forms are going out to approximately 46,600 Virginia borrowers who lost their home to foreclosure between Jan. 1, 2008 and Dec. 31, 2011 and who may be eligible for payment under the $25 billion national mortgage foreclosure settlement.

        Eligible borrowers had mortgages serviced by Ally/GMAC, Bank of America, Citi, JPMorgan Chase and Wells Fargo, the nation’s five largest mortgage servicers that agreed to the settlement with the federal government and attorneys general for 49 states and the District of Columbia.

        The settlement, which took effect in April, earmarked approximately $1.5 billion in payments for 2 million borrowers nationwide who lost their homes to foreclosure during that period and had their loan serviced by one of the settling servicers.  The exact payment will depend upon the total number of borrowers who decide to participate.

        Foreclosure servicing settlement spawns new mortgage scams
        The $25 billion mortgage servicing settlement  is already creating a new problem for distressed borrowers.
        It seems fraudsters, who want to capitalize on the historic settlement, are calling homeowners asking them to participate in the settlement by providing upfront fees and personal information.

        The Washington Post says homeowners in various states started receiving calls from parties who falsely promised cash payments from the settlement in exchange for a fixed fee.
        In Alabama, some homeowners were asked to provide bank routing numbers over the phone, so settlement funds could be shipped to them, the newspaper reported.
        Click here to read more.

        Beware of scams

        Borrowers should not need to pay anyone to file their claim. Do not provide personal information or pay money to anyone who calls or emails you claiming that they are providing settlement-related assistance.  If you believe someone is conducting a settlement-related scam, call the Consumer Protection Hotline at (800) 552-9963 if calling from Virginia, or (804) 786-2042 if calling from the Richmond area or from outside Virginia.

        Forms mailed to qualified borrowers, must be returned by January 18

        In Virginia, packets containing a letter from the Attorney General, claim form, instructions and answers to frequently asked questions are being mailed to eligible borrowers beginning today and continuing through Oct. 12.

        Virginia borrowers are urged to complete their claim forms and return them as soon as possible in the envelope provided, or file them online at www.nationalmortgagesettlement.com.

        The deadline for all claims is January 18, 2013.Payment checks are expected to be mailed in mid-2013.

        Free claim form assistance available

        The one-page claim forms are simple to complete. However, borrowers who have questions or need help filing their claim can contact the settlement administrator, toll-free, at 1-866-430-8358, or send questions by email to administrator@nationalmortgagesettlement.com.

        The information line is staffed Monday through Friday from (7 a.m. to 7 p.m. Central).

        Eligible borrowers do not need to prove financial harm to receive a payment, nor do they give up their rights to pursue a lawsuit against their mortgage servicer or to participate in the Independent Foreclosure Review Process being conducted by federal bank regulators. More information about that program is available at www.independentforclosurereview.com.

        Eligible borrowers may get a payment from this settlement even if they participate in another foreclosure claims process. However, any payment received may reduce payments borrowers may be eligible to receive in any other foreclosure claim process or legal proceeding.

        Eligible borrowers not notified should contact settlement administrator

        Borrowers who believe they may qualify for a payment, but did not receive a notice because they have moved, should contact the settlement administrator directly to provide that information:

        Call toll-free: 1-866-430-8358.  The line is staffed Monday through Friday from (7 a.m. to 7 p.m. Central).

        Email: administrator@nationalmortgagesettlement.com

        For more information about eligibility and filing a claim:

        www.NationalMortgageSettlement.com

        Email: administrator@nationalmortgagesettlement.com

        Call toll-free: 1-866-430-8358 (hearing impaired: 1-866-494-8281).The line is staffed Monday through Friday from (7 a.m. to 7 p.m. Central).

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        Is real estate better off than four years ago ?

        Posted on September 13, 2012 by mrwilliamsburg

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        Thanks to the KCM Blog for the image

        Filed under: real estate, Real Estate Search, williamsburg va | Leave a Comment »

        How is the real estate market in Williamsburg ? July 2012

        Posted on September 1, 2012 by mrwilliamsburg

        Typically home sale peak in the spring and the then slow up a bit after July 4th and then pick up again after school starts in September.  Sales start to slow way down again around Thanksgiving time and then they pick up again in the beginning of the year.  People buy and sell housing all year long and the people who sell during the slow season have the advantage of having less competition Generally t buyers who are looking in the slower parts of the year are more motivated.

        What follows is an August  2012 update for residential home sales for the Williamsburg area housing market.  This comprises the city limits of Williamsburg, James City County and upper York County ( Bruton District) The zip codes for those areas are  23168, 23185, and 23188,

        The chart below shows the number of residential homes sold in July 2012 (112) as compared to (94) during July 2011.   That is a 19% increase over both this time last year and 16% over the running 12 month average.

         Note that we have had sales increases almost every month since September 2011. 

        Homes under contract (Pending Sales ) for July 2012 are up by 24.66% to 91 versus July of last year at 73 that went under contract. Again a healthy increase in 12 months.

         Prices Going Up According to the preliminary trends. The Williamsburg market area has experienced some upward momentum with the increase of Median Price this month. According to the July 2012 statistics, this market area has experienced some upward momentum with the increase of average prices at closing. Prices increased 8.33% to $338,479 versus the previous year July at $312,446.

        This number can be a tricky component as if we sell more higher end homes it will simply skew the numbers up. Personally I see very few market segments showing price increases. New Homes are the primary one.

        Months Supply of Inventory (MSI) Decreases

        The total housing inventory at the end of July 2012 decreased 21.42% to 939 existing homes available for sale.

         

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        I would be happy to send you more detailed reports for your home, neighborhood or market segment.

        Simply email me John@MrWilliamsburg.com or call 757.254.816

        Filed under: real estate, Real Estate Statistics, williamsburg va | Leave a Comment »

        What is an Energy Efficient Mortgage (EEM)?

        Posted on August 21, 2012 by mrwilliamsburg

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        Did you know that an Energy Efficient Mortgage can be used to purchase a home and add the cost of certain repairs to the loan?  With tons of distressed properties on the market, this can be a good way for home buyers to purchase a nice home without paying $1000’s out of pocket for repairs.

        What is an Energy Efficient Mortgage (EEM)?

        The main idea behind these types of mortgage is that energy efficient homes use less energy and are, therefore, less expensive to own. People who have more efficient homes spend less per month on utility costs.  Theoretically, home buyers should have more to spend on their monthly mortgage payments allowing them to afford a larger mortgage.

        The cost of the repairs is added to the loan amount for an FHA or VA loan.  This process is easy and does not add additional time to the processing of the loan.

        (more…)

        Filed under: real estate, williamsburg va | Leave a Comment »

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