• 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

January Homes Sales Update for Hampton Roads

home sales statistics williamsburg vaInventory is down and prices are up !

The Hampton Roads real estate market is off to an optimistic start for 2013.

The number of residential homes for sale significantly dropped when compared to January 2012, resulting in a lower month’s supply of inventory. Residential closed  sales and homes under contract both experienced double digit percentage year-over-year increases.

The number of residential homes listed  for sale in Hampton Roads in January 2013 was down 10.75% when compared to the same time last year. Of the regions seven major cities (Chesapeake, Hampton, Newport News, Norfolk, Portsmouth, Suffolk, Virginia Beach) Chesapeake and Virginia Beach experienced the largest year-over-year declines in residential active listings at 19.01% and 16.87% respectively. Portsmouth was the only city not to experience a year-over-year decline as residential active listings increased 2.05%. The drop in active listings has resulted in a low 6.18 months’ supply inventory which is down 17.6% from January 2012 when it was 7.5 months.

Pending sales (Homes under contract) showed promising numbers during January 2013 with an increase of 14.14% when compared to January 2012. Suffolk and Chesapeake saw the largest year-over-year increases of 39.74% and 25.54% respectively, while Hampton experienced the smallest year-over-year increase of 3.74%. Portsmouth was the only city not to see a year-over-year gain, with residential under contracts down 14.12%.

Closed home sales round off the month’s positive trend. January 2013’s residential settled sales increased 20.66% when compared to January 2012. Suffolk and Hampton substantially contributed to this increase as they saw year-over-year gains in residential settled sales of 59.26% and 40% respectively. Norfolk experienced the smallest year-over-year gain of 3.87% and Portsmouth saw no gain at all as residential settled sales dropped 1.18% year-over-year.

Home prices

The median residential sales price is currently $193,000, a 10.63% increase from $174,450 in January 2012. image

 

The Hampton Roads distressed homes market, (BANK OWNED, FORECLOSURES OR SHORT SALES ) continue to impact the region’s real estate market. Distressed homes accounted for 34.88% of residential settled sales during January 2013. This is the highest percentage since February 2012 when distressed homes accounted for 36.39% of residential settled sales. As for residential homes for sale, 27% of the listings in January 2013 were distressed properties. This percentage has fluctuated between 22% and 28% over the last 18 months. There appears to be an upward trend in both active and sold distressed residential properties starting in August 2012

This information is derived from the Real Estate Information Network, Inc., (REIN)

An independent MLS owned by broker stockholder members serving real estate brokers in the Tidewater / Hampton Roads area of Virginia from Williamsburg east to Virginia Beach and south to the North Carolina border.

REIN MLS database primarily lists homes, condos, townhomes or land for sale in Carrolton,  Chesapeake,Gloucester, Hampton, Isle of Wight, Portsmouth  Mathews, Newport News Norfolk, Poquoson, Smithfield, , Suffolk, Surry,  Va Beach, Yorktown  and York County Virginia as well as other outlying areas of VA and NC

 

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

First Time Home Buyer Club-James City County

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.

Fed Expected To Keep Rates Low Into 2014

The Federal Reserve announced that short-term interest rates will likely stay near zero for nearly three more years, a move that is expected to spillover to long-term mortgage rates for home buyers and home owners.

In August, the Fed had made a rare move to say it would keep rates near zero until at least mid-2013. The Fed said Wednesday that the economy still needs more help and it will now extend that period to 2014.

Fed Chairman Ben Bernanke said in a news conference that the Fed isn’t happy with the modest economic recovery and that the Fed may need to take additional steps to spur recovery. He did not comment further on what those steps might be, though.

While the economy has improved somewhat in recent weeks, Fed officials say it’s worried about “strains in global financial markets” and the still high unemployment rate.

Some critics say that the Fed’s vow to keep mortgage rates longer won’t do enough to help the economy and the housing market. They argue that too many Americans are already unable to take advantage of the record low mortgage rates because of the tightening of lending standards.

Bernanke shared that concern, saying that millions of home owners were unable to refinance because of damaged credit or being from underwater in their homes.

Source: “Fed Sees Low Rates to 2014,” The Wall Street Journal (Jan. 26, 2012) and “Fed Signals That a Full Recovery Is Years Away,” The New York Times (Jan. 25, 2012)

Its Official The First Time Home Buyer Tax Credit is EXTENDED !

The government has extended and expanded the tax credit for first-time buyers. You now have until April 30, 2010 to sign a contract and qualify. And starting November 7, many existing home owners also qualify.

Am I eligible?

If you have not owned a home in the past three years, you may qualify. That’s right, even if you or your spouse owned a home more than three years ago, you are still considered first-time homebuyers and may qualify for the tax credit.

Existing homeowners thinking about buying a new home  also be eligible for an up to $6,500 tax credit.
(For details, visit FederalHousingTaxCredit.com.)

Am I entitled to the full $8,000 home-buying tax credit?

It depends on your modified adjusted gross income (MAGI) and current eligibility.

How does the home-buying tax credit work?

It is a direct tax credit that reduces the amount of taxes you owe. It’s different from a tax deduction, which only reduces the amount of your income that is subject to tax.

If your eligible tax credit is more than what you owe in taxes, the balance will be refunded to you. (See an example scenario at FederalHousingTaxCredit.com.)

This is not a loan. You do not have to repay this tax credit.

How long does the program last?

The federal home-buying tax credit applies to homes contracted for sale by 04/30/10 and closed on by 06/30/10.

For additional details on the federal home-buying tax credit, visit FederalHousingTaxCredit.com.

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Home Buyer Tax Credit extension pending

This just in from  NAR the UI bill including the homebuyer tax credit extension and expansion has passed the House by a vote of 403-12 after passing the Senate last night 98-0.

The new provisions take effect as soon as President Obama signs the bill, which is expected  before the weekend.

Here are a few FAQ about the new Tax Credit provisions

Continue reading

More Chinese Drywall issues in Wellington/ James City County

From an article by Leslie Wayne/ New York Times:

When Bill Morgan, a retired policeman, moved into his newly built dream home in Williamsburg, Va., three years ago, his hopes were quickly dashed.

Bill Morgan blames Chinese drywall for toxic fumes and corrosion in components of his home.

Bill Morgan had to abandon his newly built dream home in Williamsburg, Va., blaming drywall for corrosive fumes that attacked metal objects.

His wife and daughter suffered constant nosebleeds and headaches. A persistent foul odor filled the house. Every piece of metal indoors corroded or turned black.

In short order, Mr. Morgan moved out. The headaches and nosebleeds stopped, but the ensuing financial problems pushed him into personal bankruptcy.

Continue reading

VA Free Home Ownership Education Classes- VHDA

After living in an apartment in Hampton for several years, Genea did some simple math and realized how much she had been spending on rent. "I couldn’t believe how much money I was throwing away each year – I knew I had to do something," she said.

VHDA Free Class

That "something" came in the form of a Virginia Housing Development Authority homeownership education class she read about in her local newspaper. Genea jumped at the opportunity.

As a full-time accounts receivable professional for a local non-profit organization, Genea was pleased to find a class time that fit her schedule. She was even more impressed with the knowledgeable VHDA instructor. "My instructor was wonderful," said Genea. "The most beneficial information dealt with the role of the lender and the importance of a person’s creditworthiness. At the end of the class, it all fit together like a puzzle."

After completing the class, Genea qualified for a VHDA home loan. She remembers the exact date that she closed on her property. "I purchased my home on October 23, 2008," she said. "This class was worth my time because it changed my life – VHDA provided a great gift to the community by sponsoring this course."

VHDA homeownership education classes cover topics including credit issues, personal finances, home inspections, the role of lenders and real estate agents, and the closing process. In addition to helping people understand the home buying process, the completion of a homeownership education class is now required of all borrowers before applying for a VHDA home loan.

"Are you interested in taking a free VHDA Homeownership Class? Sign up for an in-person or online class at http://www.vhdafreeclass.com.

Watch this first person testimonial about the VHDA Homeownership Class

FHA finalizes bridge loan program for the $8000 first time homebuyers tax credit, allowing use of the credit towards closing costs

From the HUD Website:

Speaking to the National Association of Home Builders Spring Board of Directors Meeting, U.S. Housing and Urban Development Secretary Shaun Donovan today announced that the Federal Housing Administration (FHA) will allow homebuyers to apply the Obama Administration’s new $8,000 first-time homebuyer tax credit toward the purchase costs of a FHA-insured home. Donovan said that today’s action will help stabilize the nation’s housing market by stimulating home sales across the country.

The American Recovery and Reinvestment Act of 2009 offers homebuyers a tax credit of up to $8,000 for purchasing their first home. Families can only access this credit after filing their tax returns with the IRS. Today’s announcement details FHA’s rules allowing state Housing Finance Agencies and certain non-profits to "monetize" up to the full amount of the tax credit (depending on the amount of the mortgage) so that borrowers can immediately apply the funds toward their down payments. Home buyers using FHA-approved lenders can apply the tax credit to their down payment in excess of 3.5 percent of appraised value or their closing costs, which can help achieve a lower interest rate. To read the FHA’s new mortgagee letter, visit HUD’s website.

"We believe this is a real win for everyone," said Donovan. "Today, the Obama Administration is taking another important step toward accelerating the recovery of the nation’s housing market. Families will now be able to apply their anticipated tax credit toward their home purchase right away. At the same time we are putting safeguards in place to ensure that consumers will be protected from unscrupulous lenders. What we’re doing today will not only help these families to purchase their first home but will present an enormous benefit for communities struggling to deal with an oversupply of housing."

Currently, borrowers applying for an FHA-insured mortgage are required to make a minimum 3.5 percent downpayment on the purchase of their home. Current law does not permit approved lenders to monetize the tax credit to meet the required 3.5 percent minimum down payment, but, under the terms of today’s announcement, lenders can now monetize the tax credit for use as additional down payment, or for other closing costs, which can help achieve a lower interest rate. Buyers financing through state Housing Finance Agencies and certain non-profits will be able to use the tax credit for their downpayments via secondary financing provided by the HFA or non-profit. In addition to the borrower’s own cash investment, FHA allows parents, employers and other governmental entities to contribute towards the downpayment. Today’s action permits the first-time homebuyer’s anticipated tax credit under the Recovery Act to be applied toward the family’s home purchase right away. Unlike seller-funded down-payment assistance, which was a vehicle for abuse, this program will allow homebuyers to shop for the best home price and services using their anticipated tax credit.

To explore financing options for real estate in Hampton Roads or Williamsburg VA  contact: John@MrWilliamsburg.com

Home Buyer’s Down Payment FAQs

With today’s combination of lower home prices, some of the lowest interest rates the industry has ever offered, and the $8000 tax incentive for first-time buyers, buying a home has never been so attractive. The only real hurdle left for many Americans is coming up with a down payment. With this in mind, we’ve put together some of the most frequently asked questions we get about down payments in today’s market in the Hampton Roads and Williamsburg Va areas.

Q. Are there any no-down payment programs left?
Yes. While it’s true that most of the popular no-down payment programs disappeared in the wake of the subprime mortgage collapse, there are still two longstanding government-backed programs that offer mortgages with no down payment: the USDA Rural Development Program and the VA Loan Program.
A USDA Guaranteed Loan is a government-insured, 100% purchase loan. This means there is no down payment required if you – and the house you intend to buy – qualify for the program. Not all areas qualify, but you’d be surprised at how many neighborhoods in your area do. There are income and other limitations, but if coming up with a down payment is challenging, you might want to consider this program.
If you or your spouse is a military veteran, you may qualify for a 100% financed loan from the US Department of Veterans Affairs. More than 29 million veterans and service personnel qualify for this service benefit. Give us a call to find out if you’re one of them.
Q. Are there any other government-insured programs that can help someone struggling with a down payment?
Yes. In 1965, the federal government created the FHA loan programs to encourage homeownership throughout the country. FHA-insured mortgages offer many benefits, including a minimum down payment of 3.5%. FHA-insured loans have grown in popularity recently due to the seller’s ability to pay closing costs up to 6% and a temporary increase in loan limits up to $729,750 in certain high-cost areas, which allows more potential buyers to utilize this program.
Q. May I use a gift from family members as part of my down payment?
Yes. In many cases, immediate family can provide monetary gifts to be used as a down payment. There are restrictions of course, and strict documentation will be required, but we will gladly walk you through the finer details of this process. Be sure to mention this option when you’re filling out an application with us.
Q. May I use funds from my IRA for my down payment?
Yes. First-time home buyers can use funds from an IRA under certain circumstances for a down payment. The rules regarding this option, however, can be complicated, especially with a Roth IRA, and it’s important to understand any and all tax implications before tapping into these accounts. Please talk to your tax professional before making any decisions. If you don’t have one, we’ll gladly refer you to one we work with on a regular basis.
Q. May I use the $8,000 tax credit as my down payment?
No. At the time of the writing of this article, qualified first-time home buyers do not have direct access to the $8,000 credit to use as a down payment. In May, HUD officials made an announcement to the contrary, but statements backing the announcement were quickly withdrawn from the HUD website. This doesn’t mean that HUD and lawmakers will not allow this in the future. We’re following this issue closely and will let you know if anything changes. Just keep reading our newsletters and other materials we send to you or give us a call and we’ll let you know if any progress has been made.

To explore loan options, monthly payments, etc for mortgage loans in the Williamsburg VA and Hampton Roads areas contact Nina Efird with Suntrust Mortgage.

Nina brings more than 20 years of experience to her clients. With her vast experience in real estate and mortgages, she has the unique ability to understand the expectations and needs of all parties involved in the mortgage financing process. Nina is known throughout the community for her ability to quickly identify and match each individual’s goals with the appropriate loan products and ensure that her clients’ needs and expectations are met.
http://www.suntrustmortgage.com/loanofficer.asp?nefird

Click here to see if you or your home qualifies for USDA Rural Development Program. http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?NavKey=home@1

The government is handing out money… but there’s a deadline !

$8000 Tax Credit

By now, you’ve heard about the new Tax Credit passed by Congress for first-time Hampton Roads and Williamsburg VA home buyers.

But did you also know…

  • You must purchase and close on your new home by December 1, 2009
  • The credit also applies to those who have not owned a home in the past 3 years
  • This credit does not have to be repaid
  • If you wait too long, you may lose this opportunity!

A record 844,000 prospective homebuyers visited the National Association of Home Builders’ FederalHousingTaxCredit.com Web site in February to learn about the new $8,000 tax credit for first-time homebuyers that was enacted last month as part of the landmark $787 billion economic stimulus package.
Find out more at  www.FederalHousingTaxCredit.com

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DOD to help Hampton Roads Military Home Sellers

Hampton Roads VA has many military families who maybe in for some help in selling their home courtesy of Uncle Sam.

 The President signed the American Economic Recovery Act which included expansion of the HAP authority. HAP is a DOD program, and DOD will establish policy guidance on applicant processing and benefits. Until that time, potential applicants may submit applications to appropriate HAP districts; however, no action will be taken on the applications until any change to the HAP authority has been enacted and DOD guidance is received.

Their is a provision in Congress’ economic recovery package that may provide relief to Military Home Sellers who are trying to sell for less than they owe on their mortgages..

The stimulus package includes $555 million in aid to compensate military service members who are given orders and must sell their homes for less than market value. The Department of Defense would reimburse the individuals for up to 95 percent of the loss if the homes were purchased before July 1, 2006. The department could also elect to purchase the homes for up to 90 percent of the fair market value.

Many families are waiting for clarification on  whether the DOD will use the value of the home at the time of purchase or the value in today’s market.

The defense department is reviewing the program to determine the eligibility requirements but it has set no deadline for decisions.

The legislation , administered by the Army Corp of Engineers is an expansion of the Homeowners Assistance Program.

Originally created to help military personnel forced to sell their homes after a base closing it is being expanded to include those affected by the housing downturn would last until 2012. However, those who bought after the July 2006 deadline are not eligible.

You can find out more about the HAP Program here

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Uncle Sam wants to give you $8000

But only if you meet the following criteria.

Up to an $8,000 home-buying incentive from the U.S. Government plus  low interest rates from our prefered lenders when you buy now. 

First question, Are you eligible?

Answer: If you have not owned a home in the past three years, you may qualify. (That’s right, even if you or your spouse owned a home more than three years ago, you are still considered first-time homebuyers and may qualify for the incentive.)

Am I entitled to the full $8,000 home-buying incentive?
It depends on your modified adjusted gross income (MAGI).

How does the home-buying incentive work?
It is a direct tax credit that reduces the amount of taxes you owe. It’s different from a tax deduction, which only reduces the amount of your income that is subject to tax.

If your eligible tax credit is more than what you owe in taxes, the balance will be refunded to you. (See an example scenario at FederalHousingTaxCredit.com

How long does the program last?
The federal home-buying incentive applies to homes purchased (closed) on or after January 1, 2009, and before December 1, 2009.

The tax credit can be claimed on your 2008 or 2009 tax return.

For additional details on the federal home-buying incentive, visit FederalHousingTaxCredit.com

Want to explore what your monthly payment would be ? email John@MrWilliamsburg.com for further information

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Ford’s Colony Community Spotlight- Williamsburg, VA

fordscolonywilliamsburgva Ford’s Colony is a gated golf community located in Williamsburg /James City County , Virginia. Offering  three 18-hole golf courses all designed by Dan Maples, that weave throughout  the community giving golfers a challenging place to test their game.  Ford’s Colony features two swimming pools, tennis courts, walking trails, and a clubhouse. Residents can enjoy an active lifestyle without leaving their neighborhood! Homes in this community range in price from $295K to $2.5 million.

Recently voted the number one master planned community in the United States, Ford’s Colony in historic Williamsburg, Virginia is a relaxed and graciousfcgc community offering a variety of home styles and amenities.
The hub of activity in the center of this 3,000-acre community is the Country Club, complete with award winning dining, meeting rooms, and a full-service Golf Pro shop. The Dining Room in the Country Club has repeatedly received the AAA Five Diamond award.

Continue reading

Hampton Roads VA- Foreclosures

Are you thinking of buying a foreclosed home in Hampton Roads Virginia ? Freddie Mac is offering a Closing Cost incentive of up to 3.5% of your purchase price for all Purchase Offers received between October 23, 2008 – January 31, 2009, that close by March 14, 2009.

Homebuyers: Now, no matter where you looking to buy a home in Hampton Roads VA, owning your own home may be more affordable than you think! If you are currently renting or wanting to move up, Mr Williamsburg would like to help you on your way to homeownership. By teaming up with Freddie Mac Mr Williamsburg can help you receive up to 3.5%* of your purchase price in closing costs for any offer presented on HomeSteps homes between October 23, 2008 – January 31, 2009 that closes by March 14, 2009

To qualify for this great money-saving offer, just ask Mr Williamsburg to show you the available HomeSteps homes in your area and to include this closing cost offer at the time of your initial offer on a HomeSteps/ Freddie Mac owned  home. Then, upon qualified closing, you will receive your closing cost incentive.

No coupon required!

Saving up to 3.5%* at closing adds up! Just think, you could use your closing cost savings to purchase new carpet, new furniture – you name it!

This offer only lasts until January 31, 2009, so make sure and Call or email Mr Williamsburg today John@MrWilliamsburg.com  about HomeSteps homes/ Freddie Mac Foreclosed Homes in Hampton Roads VA

*As an example of your savings, if the purchase price of your home is $300,000, HomeSteps will pay up to $10,500 of your closing costs. This savings is money that you can use for moving expenses or new furnishings. (Please note HomeSteps will only pay up to 3.5% of your purchase price in closing costs, not to exceed the total closing costs.

Promotion is valid only on HomeSteps (Freddie Mac-owned) properties.

Terms and Conditions:

In order to redeem an Ask an Agent buyer’s closing cost offer or Selling Agent bonus, homebuyers/agents must purchase/sell a HomeSteps home between October 23, 2008 – January 31, 2009; sale must close  by March 14, 2009.

Terms:

  • Only HomeSteps (Freddie Mac-owned) properties are eligible.
  • This offer valid in the United States (including PR, VI and GU).
  • All offers submitted on or after October 23, 2008, and on or before January 31, 2009, are eligible.
  • Buyers Closing Cost offer must be mentioned to the HomeSteps Listing Agent at the time of initial offer on a HomeSteps home.
  • All sales must close escrow on or before March 14, 2009, to be eligible for Ask an Agent offers.
  • *Ask an Agent closing cost offer is valid only on owner-occupied, financed homes; a limit of 1% closing cost offer on owner-occupied, cash sales.
  • Closing cost offer may not exceed actual closing costs.
  • Investor sales are not eligible for buyer’s closing cost offer.
  • Ask an Agent offers are not valid on Auction or Sealed Bid properties.
  • Ask an Agent offers are not transferable and may not be combined with any other offer.
  • Seller reserves right to remove homes from “Ask an Agent” promotion or end promotion at any time.

If you are thinking of buying a foreclosure, short sale, REO or bank owned property or home in Williamsburg, New Kent, Gloucester, Yorktown, York, Newport News, Hampton, Isle of Wight, Suffolk, Chesapeake, Va Beach, Norfolk or any other areas of Hampton Roads email or call John Womeldorf John@MrWilliamsburg.com  757 254 8136 for an up to date list of all properties currently on the market.

Williamsburg VA- Mortgage Lenders

Question:Are you able to give a short list of mortgage companies in the Williamsburg/ Hampton Roads VA. area which I might want to consider.  I understand that you can’t really recommend one over another.  But a short list of generally approved businesses would be a help.

 

Answer: To achieve a preferred status with out company Lenders had to agree to not charge for credit reports and not to charge junk fees, Admin Fees, etc.  That´s the pledge from lenders we have hand selected to earn ‘preferred’ status to offer mortgage services to Liz Moore & Associates´ buyers.  And adding up the dollars NOT spent on extraneous fees results in an amazing amount of money our buyers now have to spend on their new homes!  When it´s your home, everything counts. They work out of an office in our building and are available seven days a week.

You would be surprised at what these extraneous fees add up to. I have seen mortgages where the fees  added up to over $4000.

Our preferred lender list includes B.F. Saul, Wells Fargo, Suntrust and a local company Atlantic Bay. Contrary to popular belief our Broker (Liz Moore) has advised us that we can recommend one lender or home inspector or contractor or surveyor, etc.

Her reasoning was if a client is asking who should they should work with, who has the best service , who has the best rates then why can’t we tell them ?

To that end I would recommend Ginny Phillips at BF Saul. Great to work with, great rates, Great service.

In the last five years of selling real estate, the only times I have had issues was with out of state lenders who we don’t have relationships with. I could fill a book with the last minute snafus and displeasure that they have caused .

Ginny’s contact info is below.

http://www.bfsaulmortgage.com/lo_home2.html?gphillips

Ginny Phillips Loan Officer BF Saul

 

Phone:
(757) 599-2827

Cell:
(757) 572-9635


Send her an email

Read her bio

BF Saul Mortgage

721 Lakefront Commons
Suite 201
Newport News, VA 23606

Williamsburg VA 2008 A Year In Review

From an article in the Va Gazette By Cortney Langley  Dec. 2008

The recession slowed the growth of housing and commerce for the first time in 10 years. Still, there was plenty left to propose and oppose.

James City County set out to revise the Comprehensive Plan with various forums and committees taking the public pulse.

A new slow-growth group called J4C produced research papers challenging various assumptions and projects. The outgoing Democratic majority tightened a James City ordinance to expand stream buffers to 300 feet instead of 100. The new Republican majority promptly unwound that and eventually compromised at 225 feet, then defeated the whole measure. The stream buffers were among many disputes in which four of the five members criticized each other as politically partisan. Almost 900 Ford’s Colony residents petitioned to block a big continuing care facility across the road as too big, generating too much traffic and burdening the HOA. They found a zoning loophole to support their case legally.

The HOA agreed not to sue when management backed down on applying full residential rights to those in a proposed senior care facility. Others still opposed the project on grounds of traffic and scale, even after it was scaled back from 944 units to 739. Despite a last-minute gimmick to stop it, the James City supervisors approved, but the financing dried up during the national credit crisis.

Also near Ford’s Colony, a plan for 240 workforce housing units on News Road was pulled back to weave it into the new Comp Plan. It was considered DOA after the continuing care controversy. Ford’s Colony announced Westport as 100 large homesites across Centerville Road but removed from the controversial continuing care facility.

Two-year assessments found York home values up an average of 15%. The Board of Supervisors reduced the real esate tax rate from 69.75 cents per $100 of assessed value to 65.75 cents.

York county administrator James McReynolds said he needed $26 million worth of expansion and new buildings for his various departments.

A new task force promised to have ideas on developing workforce housing by summer. Work languished, but the group plans to take up the mantle in 2009.

High Street scaled back 99 townhouses to 36 in the first phase as real estate sales continued soft. The Movie Tavern theater that was supposed to open by Labor Day was delayed to November, and then to March along with the retail shops. By year-end, two of five apartment buildings at High Street began to be occupied.

Two new sets of stoplights were erected for High Street, bringing the total in greater Williamsburg to 87. Yet very few were synchronized to keep traffic moving.

The Salvation Army set out on a feasibility study for a $6 million complex of teen center, child care, computer lab, food pantry and other services to the community. The site is on Richmond Road near 199.

An extended runway was ruled out at Williamsburg-Jamestown Airport, which seemed to scotch any federal subsidy for acquisition. By year-end, it was going to take more than $3 million to buy the airport or $16 million to rebuild elsewhere. Some citizens were adamantly against James City County putting up the money. The death of co-owner Jean Waltrip complicated matters.

Philip Morris completed the expansion and conversion of the Route 143 plant to make spit-free tobacco. 1,200 acres were put on the market by Williamsburg Pottery, though Kim Maloney clarified the business would remain intact. With no buyers at hand, the property was later taken off the market. Longtime farmer Don Hunt closed Hill Pleasant Farm. He had no plans to sell to developers but asked for the land-use designation to change to mixed-use with the Comp Plan update. The York supervisors compromised on requiring Kiln Creek Golf Club & Resort owner Dick Ashe to cut the grass of its abandoned nine-hole course.

Overcrowding worsened at Stonehouse Elementary, but a 9th school was still two years away.

Pockets of retail vacancies were showing up at Patriot Plaza and were persisting at Williamsburg Crossing.

A revised version of controversial condos were approved on South Henry Street despite criticism that they were out of scale.

Williamsburg Community Chapel spent $15 million to expand to 70,000 square feet with an auditorium for 1,500.

York denied its first mixed-use development of apartments and stores, on Route 17 at Battlefield Road. 10 four-story buildings for mixed use at Route 17 and Battle Road worried York residents as too massive.

The York supervisors were lobbied heavily to approve in a 3-2 vote a house on the Chesapeake Bay that was within the 100-foot Chesapeake Bay resource protection area.

The Honda dealership in Norge sought to expand, but neighbors complained of encroachment. Neighbors in Chisel Run protested Prime Outlets expanding across Olde Towne Road after two dozen older trees were cut down. James City had a raft of road projects, but the state budget was cut in half to $3.5 million. Two James City supervisors had second thoughts about approving a $50 million contract with Newport News Waterworks. It’s good for up to 5 million gallons a day. Water rates raised 12%- 15%, with more to come.

VDOT ramped up its traffic studies in ways that would cost developers more time and money, but slow-growth advocates hailed the move for reflecting a more cumulative impact.

J4C came up with six pages of ways to prevent flooding through improved draining. The crux of the problem was assigning responsibility for flooding after a development is built.

Three days of citizen meetings led to a vision of the Eastern State campus for mixed uses and housing around various mental health components. Sites emerged for at least one new school, an office park, apartments, “Geriatric Square” for research, and faculty housing.

Neighbors near Hubbard Lane protested expansion plans for a mini-warehouse behind James-York Plaza. The Planning Commission recommended denial of the proposal and the application has yet to go to the Board of Supervisors.

Seasons Trace sought a second road out of the subdivision in the event of hurricane flooding.

The city budget was ho-hum except for a 15% hike in water rates to pay Newport News Waterworks in times of need. Last year the rates went up 10% and more hikes are coming, in part to cover costs of the new King William Reservoir. Geologist Gerald Johnson lost his fight to save the last patch of 5-million-year-old fossils along the bluffs of the James River. Kingsmill wanted the site for more homes.

Wiliamsburg VA Real Estate “Fords Colony News”

From an article in the VA Gazette 

JAMES CITY – In a stunning affront, homeowners in Ford’s Colony are looking outside the gates to find a new management company. That threatens developer Realtec’s hold over the sprawling planned community.

The potential shakeup is the latest wedge in a series of disputes that date back to an attempt to build 220 workforce homes across News Road. Realtec hoped to roll the project into the Ford’s Colony master plan, which homeowners vehemently opposed. Things went downhill when management pushed a big continuing care facility as well.

The homeowner association president downplayed any animosity. Deborah Gatzek-Kratter said, “This isn’t anything adverse about RCS,” referring to Realtec Community Services. “It’s just a normal process. It doesn’t reflect anything about anybody. There’s no problem [with Realtec]. This is about getting the best value, the best service, for the money.”

It is nonetheless the first time the Homeowner Association has challenged an arrangement forged 23 years ago by opening the management contract to outside bidders. Last week six bids came in, including one from Realtec.

What’s at stake is a contract worth $4.5 million that covers more than 25 employees in 24-hour security, 30 in maintenance, five in management and two in recreation, plus summer temp help. Community Services maintains 45 miles of private roads and 250 acres of common area.

Realtec the company oversaw the compound until 2000, when it ceded control to the Homeowner Association after a series of phases.

Insiders said this week that with Realtec’s “veto power” over association decisions set to expire in 2010, now’s the time to recast the contract or retain a new company altogether.

Realtec general manager Drew Mulhare said, “We believe that keeping the interests of the developer and the HOA aligned is in the best interest of both entities and, of course, the folks who own property here.” He said Community Services drew a 90% approval rating in a recent survey.

Skeptics feel Realtec is still in charge.

Ousting Community Services is more complicated than hiring a new company. It owns the project maintenance facility, which houses management offices, storage, a mechanic’s shop and a fuel depot. The HOA pays into a shared-use agreement, but the cost is half of what homeowners can expect to pay in mortgage or lease costs for separate facilities, Mulhare said.

Indeed, Community Services would be under no obligation to let the homeowner association use the facility.

“Maintenance companies, large landscape companies and construction companies have spoken to us in the past regarding co-op agreements, mergers or leases,” Mulhare said. They are attracted to being close to the 3,000 lots, 2,400 homes and 600 to-be-built units at Ford’s Colony.

Then there are the 60 or so Community Services employees. Realtec could be subcontracted by the new company, Mulhare noted, which moves the negotiations mostly to a matter of the $436,000 upper management portion of the contract.

“It would separate me and my development connection from the management agent,” Mulhare said. “However, there is no evidence that my dual relationships have been a determent to the [Home­owner Association].”

Village at Ford’s Colony, the controversial continuing care facility on News Road, will come online in a matter of years, Mulhare said, providing more business for whoever runs the compound.

Gatzek-Kratter carefully noted that the decision was not based on the controversy over the continuing care facility. More than 900 Ford’s Colony residents initially opposed the plan, and the HOA later tried to block it through legal means. Eventually both residents and the HOA supported the retirement home, or at least agreed to not fight it anymore.

Selling shares in property

 

 

 

Brian, three brothers inherited property and one brother wants to sell his share to one of his brothers; does the third brother have to give permission?

The short answer is no, no permission is necessary. This question illustrates a couple of different principles.

The first principle is the nature of property passing by way of will or intestacy (no will). Whether heirs take title via a will (if by will they are rightly called devisees) or by intestacy (rightly called heirs) they take and hold title as

tenants in common without right of survivorship

You can read the rest of the answer here in the Lytle Law weekly lytle-letter-11-24-08

Lytle Law is a general practice law firm located in Newport News, Virginia. From two office locations on the Virginia Peninsula we serve clients and try cases across the Commonwealth including the Peninsula, Newport News, Hampton, Williamsburg, James City and York County areas. Lytle Law has the experience and ability to satisfy nearly all of a client’s legal needs, and where we believe we need help we will either associate appropriate counsel or provide a referral. www.LytleLaw.com

Brian Lytle is the president of Lytle Title www.LytleTitle.com Lytle Title & Escrow, LLC a Virginia licensed, insured, and bonded real estate settlement company doing business as Lytle Title. With offices in Newport News and WIlliamsburg, Virginia,  primarily serving the Virginia Peninsula (Hampton, Newport News, York County,Poquoson, James City County and Williamsburg), but we also regularly serve surrounding areas, to include New Kent, West Point, Suffolk, Isle of Wight, Gloucester and the greater Tidewater and Hampton Roads areas of Virginia.

Brian D. Lytle, Esq., Lytle Law, P.C. www.lytlelaw.com  Reprinted with permission of the author. 

 The law may have changed since this article was written and published so caution is advised.

I have posted this article as a local REALTOR living and working in the Williamsburg Va area. I would be happy to assist you in buying or selling a  home there.  Click this link to search all real estate ,homes, condos town homes ,new and resale  currently for sale in New Town/ James City County Williamsburg VA

Click here to search all other real estate/ homes, condos ,townhomes, land for sale in the Williamsburg, James City, New Kent or York County Virginia

Click here to search for real estate,land,homes,condomiuns, town homes, commercial, in any of the following areas through the REIN MLS Database ( real estate information network) Chesapeake, Gloucester, Emporia, Greenvile, Hampton, Isle of Wight, Mathews,  Newport News, Norfolk, Northampton,  Poquoson, Portsmouth, Smithfield, Southampton, Suffolk, Sussex, Surry, VA Beach, York, Yorktown, Virginia

Close out deals on New Homes in Hampton Roads Virginia

Year End Closeout! Every Day is Different! 
HURRY, only 1 deal per day on standing inventory homes will be accepted! 
 Don’t let the deals pass you by on this schedule of amazing incentives at Chesapeake Homes that will change every day! These incentives are designed to help you own the home of your dreams! 

 

Want more information on any new home deal closeout pricing in Hampton Roads/ Tidewater Virginia  ?

Contact John Womeldorf/ Realtor/ New Homes Specialist

Liz Moore and Associates

757 254 8136 John@MrWilliamsburg.com

 

www.MrWilliamsburg.com

www.MrHamptonRoads.com

Foreclosure Rescue Scams

The economic climate has  given rise to a cottage industry known as “loan auditors” or “foreclosure rescue firms.” All essentially promise to stop a foreclosure. I want you to be aware of new Virginia law regulating these practices.

Typically, the foreclosure scammer will tell the homeowner that he can negotiate a deal with the lender to save the house, or evaluate the situation to look for loopholes, but the scam artist requires an upfront fee, and then often requires a more substantial fee when things “look promising.”

 You can read the rest of the article here lytle-letter-11-17-08

Lytle Law is a general practice law firm located in Newport News, Virginia. From two office locations on the Virginia Peninsula we serve clients and try cases across the Commonwealth including the Peninsula, Newport News, Hampton, Williamsburg, James City and York County areas. Lytle Law has the experience and ability to satisfy nearly all of a client’s legal needs, and where we believe we need help we will either associate appropriate counsel or provide a referral. www.LytleLaw.com

 

Brian Lytle is the president of Lytle Title www.LytleTitle.com Lytle Title & Escrow, LLC a Virginia licensed, insured, and bonded real estate settlement company doing business as Lytle Title. With offices in Newport News and WIlliamsburg, Virginia,  primarily serving the Virginia Peninsula (Hampton, Newport News, York County,Poquoson, James City County and Williamsburg), but we also regularly serve surrounding areas, to include New Kent, West Point, Suffolk, Isle of Wight, Gloucester and the greater Tidewater and Hampton Roads areas of Virginia.

 

 Brian D. Lytle, Esq., Lytle Law, P.C. http://www.lytlelaw.com Reprinted with permission of the author. 

 The law may have changed since this article was written and published so caution is advised.

I have posted this article as a local REALTOR living and working in the Williamsburg Va area. I would be happy to assist you in buying or selling a  home there.  Click this link to search all real estate ,homes, condos town homes ,new and resale  currently for sale in New Town/ James City County Williamsburg VA

Click here to search all other real estate/ homes, condos ,townhomes, land for sale in the Williamsburg, James City, New Kent or York County Virginia

Click here to search for real estate,land,homes,condomiuns, town homes, commercial, in any of the following areas through the REIN MLS Database ( real estate information network) Chesapeake, Gloucester, Emporia, Greenvile, Hampton, Isle of Wight, Mathews,  Newport News, Norfolk, Northampton,  Poquoson, Portsmouth, Smithfield, Southampton, Suffolk, Sussex, Surry, VA Beach, York, Yorktown, Virginia

Click here to search real estate, land, homes, condos, town homes, commercial in the following counties of North Carolina Camden, Chowan, Currituck, Dare, Elizabeth City, Gates, Hertford, Moyock, Pasquotank, Perquimans using the REIN MLS Database

contact: John Womeldorf/ REALTOR

Liz Moore & Associates

757 254 8136

John@MrWilliamsburg.com email

www.MrWilliamsburg.com/ website

www.MrBurg.com website

www.MrHamptonroads.com/ website

www.MrTidewater.com/ website

 

 

Williamsburg Va real estate search

 

Home Buyer Workshop in York County Va

York County’s Division of Housing and Neighborhood Revitalization is offering a Virginia Housing Development Authority home ownership education workshop on Saturday, Nov. 22 from 9 a.m. – 4 p.m. in the Community Services Conference Room located at 224 Ballard Street, Yorktown, Virginia, 23690.
The workshop will cover personal finances, credit reports and credit issues, the role of the lender, your relationship with a real estate agent, the Fair Housing Act of Virginia, home inspections, loan closing and home maintenance.

 


To register for this workshop, or for more information, call Tracy Pierce at 757-890-3885.

This update brought to you by Mr Williamsburg.com / Realtor/ John Womeldorf

A Realtor living / working in the Hampton Roads/ Tidewater area of Virginia.

You can reach me at 757 254 8136

Email John@MrWilliamsburg.com

 

 

FAQ Real Estate Legal Questions Hampton Roads Virginia

Brian, I’ve got a real estate transaction closing where we can’t get the home repairs done in time. What do I do?

Hmmm. I suppose it is too late to fuss about repair timing. Perhaps that wasn’t the agent’s fault anyway (didn’t ask).

The first thing you do not do, and I get asked this quite often, is blithely have the seller write a personal check to the buyer at closing for the cost of the repairs.

 

You can read the rest of the answer here : lytle-letter-11-10-08

 

Lytle Law is a general practice law firm located in Newport News, Virginia. From two office locations on the Virginia Peninsula we serve clients and try cases across the Commonwealth including the Peninsula, Newport News, Hampton, Williamsburg, James City and York County areas. Lytle Law has the experience and ability to satisfy nearly all of a client’s legal needs, and where we believe we need help we will either associate appropriate counsel or provide a referral. www.LytleLaw.com

Brian Lytle is the president of Lytle Title www.LytleTitle.com Lytle Title & Escrow, LLC a Virginia licensed, insured, and bonded real estate settlement company doing business as Lytle Title. With offices in Newport News and WIlliamsburg, Virginia,  primarily serving the Virginia Peninsula (Hampton, Newport News, York County,Poquoson, James City County and Williamsburg), but we also regularly serve surrounding areas, to include New Kent, West Point, Suffolk, Isle of Wight, Gloucester and the greater Tidewater and Hampton Roads areas of Virginia.

Brian D. Lytle, Esq., Lytle Law, P.C. www.lytlelaw.com  Reprinted with permission of the author. 

 The law may have changed since this article was written and published so caution is advised.

I have posted this article as a local REALTOR living and working in the Williamsburg Va area. I would be happy to assist you in buying or selling a  home there.  Click this link to search all real estate ,homes, condos town homes ,new and resale  currently for sale in New Town/ James City County Williamsburg VA

Click here to search all other real estate/ homes, condos ,townhomes, land for sale in the Williamsburg, James City, New Kent or York County Virginia

Click here to search for real estate,land,homes,condomiuns, town homes, commercial, in any of the following areas through the REIN MLS Database ( real estate information network) Chesapeake, Gloucester, Emporia, Greenvile, Hampton, Isle of Wight, Mathews,  Newport News, Norfolk, Northampton,  Poquoson, Portsmouth, Smithfield, Southampton, Suffolk, Sussex, Surry, VA Beach, York, Yorktown, Virginia

Click here to search real estate, land, homes, condos, town homes, commercial in the following counties of North Carolina Camden, Chowan, Currituck, Dare, Elizabeth City, Gates, Hertford, Moyock, Pasquotank, Perquimans using the REIN MLS Database

contact: John Womeldorf/ REALTOR

Liz Moore & Associates

757 254 8136

John@MrWilliamsburg.com email

www.MrWilliamsburg.com/ website

www.MrBurg.com website

www.MrTidewater.com/ website

www.MrVaBeach.com/ website

 

My other area Real Estate and Information Blogs for Hampton Roads/ Tidewater/ Williamsburg Virignia and surrounding areas

Williamsburg Real Estate Blog II

Williamsburg Real Estate Blog

Williamsburg Happenings/ Events Blog

 

Williamsburg Va real estate search

 Page copy protected against web site content infringement by Copyscape

   

 

 

 

REIN, WAAR, CBRAR, CVRMLS, MLS information

Nearly everyone has heard or read a story lately regarding the climate of the real estate market. It is important to remember that real estate is locally driven, sometimes differentiated all the way down to a specific or unique neighborhood. Statistics used to describe the state of the national real estate market do not bear the same weight or the same meaning on many local markets.

The best source for statistics about current home prices and trends in any region is the local Multiple Listing Service, or MLS. A Multiple Listing Service is a cooperative of real estate brokerage firms. The MLS maintains a robust database containing a consolidation of property listings submitted by member brokerages over many years. It is available to all member brokers and their agents and provides a fast, effective way to list, view and market properties and conduct market analysis, benefiting both the buying and selling public as a whole.

Market statistics provided by the MLS are explained through the use of terminology, such as median, mean, and percentage change. Here is a look at some simple and easy to understand definitions of these terms. A median, the most frequently used and cited statistical measure in real estate, is simply the middle value of a set of numbers. In other words, it is the exact point at which half of the values are higher and half are lower. With home prices, the median is the exact sales price where 50 percent of the homes sold for less than the reference price and 50 percent sold for more. A median is especially relevant when discussing home prices, because it is not influenced by extremely high or extremely low prices.

Another popular term is mean. The mean, or average, is the sum of a set of values divided by the number of values. Averages are useful in determining market time of properties, but averages are not useful in measuring home prices. Highly susceptible to becoming skewed by outliers (extreme highs or lows) in the data set, averages can drastically alter results. The average price of a home in any Hampton Roads city will be artificially inflated if a few homes sold for prices greater than a million dollars.

Finally, a more frequently used statistical term is percentage change. This phrase is used to show a month-to-month or year-over-year comparison. A month-to-month percentage change compares the subject month’s value to the preceding month’s value. A year-over-year percentage change describes the trend of a particular statistic from a period in one year as compared to the same time period the following or previous year. Any change in value is reported as a percentage of the prior year’s reading.

Statistics are an extremely valuable tool for evaluating the condition of any real estate market, provided there is a basic understanding of both the source of the data and the terminology used in the reporting.

—Story courtesy Real Estate Information Network, Inc. (REIN)

FAQ Real Estate Law Contract Questions

THERE ONCE WAS AN AGENT NAMED NO‐BRAINER

WHO IN HASTE FAILED TO DELIVER THE DISCLAIMER

UNTIL AFTER IT WAS ACCEPTED

HAVING HER SELLER REJECTED

WITH NO CHOICE IN THE SUIT BUT TO NAME HER

Anon Tall Lawyer

Your man on the corner continues to hear grumbling about failure to get disclaimers and disclosures to buyers before contract acceptance.    

A. The owner of … shall deliver to the purchaser the written disclosures or disclaimer … prior to the acceptance of a real estate purchase contract. … The residential property disclaimer statement or residential property disclosure statement may be included in the real estate purchase contract, in an addendum thereto, or in a separate document.  Read the rest of the article here : disclaimers

Lytle Law is a general practice law firm located in Newport News, Virginia. From two office locations on the Virginia Peninsula they serve clients and try cases across the Commonwealth including the Peninsula, Newport News, Hampton, Williamsburg, James City and York County areas. Lytle Law has the experience and ability to satisfy nearly all of a client’s legal needs, and where we believe we need help we will either associate appropriate counsel or provide a referral. www.LytleLaw.com

Brian Lytle is the president of Lytle Title www.LytleTitle.com Lytle Title & Escrow, LLC a Virginia licensed, insured, and bonded real estate settlement company doing business as Lytle Title. With offices in Newport News and WIlliamsburg, Virginia,  primarily serving the Virginia Peninsula (Hampton, Newport News, York County,Poquoson, James City County and Williamsburg), but we also regularly serve surrounding areas, to include New Kent, West Point, Suffolk, Isle of Wight, Gloucester and the greater Tidewater and Hampton Roads areas of Virginia.  

Brian D. Lytle, Esq., Lytle Law, P.C. http://www.lytlelaw.com Reprinted with permission of the author. This article was originally published in the Realtor Update , a publication of the Virginia Peninsula Association of Realtors ®

 The law may have changed since this article was written and published so caution is advised.

I have posted this article as a local REALTOR living and working in the Williamsburg Va area. I would be happy to assist you in buying or selling a  home there.

  Click this link to search all real estate ,homes, condos town homes ,new and resale  currently for sale in New Town/ James City County Williamsburg VA

Click here to search all other real estate/ homes, condos ,townhomes, land for sale in the Williamsburg, James City, New Kent or York County Virginia

Click here to search for real estate,land,homes,condomiuns, town homes, commercial, in any of the following areas through the REIN MLS Database ( real estate information network) Chesapeake, Gloucester, Emporia, Greenvile, Hampton, Isle of Wight, Mathews,  Newport News, Norfolk, Northampton,  Poquoson, Portsmouth, Smithfield, Southampton, Suffolk, Sussex, Surry, VA Beach, York, Yorktown, Virginia

Click here to search real estate, land, homes, condos, town homes, commercial in the following counties of North Carolina Camden, Chowan, Currituck, Dare, Elizabeth City, Gates, Hertford, Moyock, Pasquotank, Perquimans using the REIN MLS Database

contact: John Womeldorf/ REALTOR Liz Moore & Associates

757 254 8136 John@MrWilliamsburg.com email

www.MrWilliamsburg.com/ website

www.MrBurg.com website

www.MrHamptonroads.com/ website

www.MrTidewater.com/ website

www.MrVaBeach.com/ website  

My other area Real Estate and Information Blogs for Hampton Roads/ Tidewater/ Williamsburg Virignia and surrounding areas Williamsburg Real Estate Blog II Williamsburg Real Estate Blog Williamsburg Happenings/ Events Blog Williamsburg Va real estate search        

 

Va. Code § 55520 provides as follows:

Drugstore plans withdrawn in Norge

 From the Va Gazette 11/1/08 Courtney Langley

Plans for a new Walgreens at the Norge Candle Factory site have been withdrawn, another indicator of the recession arriving. Retailers are especially hard hit as consumer spending, which makes up about 70% of economic activity, dropped below 1980 levels July-September, according to government figures.

Walgreens’ special use permit passed Planning Commission scrutiny last month but was pulled before the supervisors got a look. “I just know that the developer and property owners are two separate entities and they both asked us to pull the application,” said Chris Basic of AES Consulting Engineers, who had filed for the permit. “I wasn’t really given much of an explanation as to why.”

The pullback comes amid speculation that businesses in New Town, including the Wal- Mart’s Neighborhood Market, has been delayed. A company spokesman denied that this week, saying that plans for a new unit at Settler’s Market remain.

Williamsburg Va Real Estate Growth Update

From an article in the Va Gazette

What will the rolling landscape of James City County Virginia’s Stonehouse District look like with three times the number of today’s homes? Hard to imagine.One of the side effects of the new rooftops may also be increased activism. Today most of the slowgrowth lobby is concentrated in Powhatan and Jamestown districts. “Because the growth has been focused in those areas, there have been a lot more issues around which galvanize people,” Krapf said. “As the growth demand turns to the upper county, you’ll probably see a lot more activity on the part of those groups served by public water. Much of the upper county relies on wells for drinking water. “It’s far too early to talk about expanding the [Primary Service Area} at this point,”  Stonehouse supervisor Jim Kennedy said. “We need to be looking at new technologies and water supply, such as reclaimed water systems,” 

Last year the James City County’s Real Estate Assessments Division assessed 4,825 parcels in Stonehouse, the westernmost of five magisterial districts.

More than 5,000 new housing units are approved and under way, according to a James City County Citizens’ report on cumulative growth.

Beyond that, another 5,500 are approved but not yet started. New housing of that magnitude seems far-fetched in the middle of a real estate slump, but Stonehouse remains a hot market for $200,000 homes . The population of the county could drastically shift within 20 years as Villages at White Hall, Jennings Way, Michelle Point, Stonehouse and Colonial Heritage build out. On the commercial side, Stonehouse is expected to add about 3.8 million square feet of shops, stores and restaurants.

The Stonehouse area of the county is definitely going to get the brunt of the growth.Some serious consideration needs to be given to the road structure that supports it, as well as the water situation. 

Plans for the Stonehouse development once included using reclaimed water, but were abandoned because of cost.

Despite efforts to control growth, there is still plenty of room. A good portion of the Williamsburg Pottery tract is in the district, as is the neighboring Hunt farm property. Both would provide large development opportunities. “It’s not just the Hunt property,” Kennedy added. “There’s also Anderson’s corner.” Planning Commission member Rich Krapf lives in the district and cautions not to overreact. “The buildout schedule could take years to achieve,” he said. “So people forget that that’s been approved. Then the new owners come in and people say, ‘That’s new growth and we don’t want new growth.’Yet it’s a 20-yearold project. That’s where so many citizen groups are raising the flag about cumulative impacts.”

The housing market is a wild card, though. Because of the downturn, Colonial Heritage construction has slowed to a trickle and developers throughout the county are not meeting building projections.

Typically, each phase in a development depends on the success of the previous phases. In a flagging market, growth stalls and plans change. “The whole county has time to breathe,” Kennedy said. “Certainly this Comprehensive Plan is critical.” 

Kennedy said that Stonehouse and its development are different from the other districts. “More people in this district are property rights people than in other areas in the county, because they are large property owners.

They don’t want to see the commercialization of the Stonehouse district either, but they certainly want to protect their interests. We’re ‘a little bit country’ out here, and we like it that way, for the most part.” “Even with the growth likely to occur, we’d still like to see the rural character retained out there,” Kadec said of J4C. “It may not be possible, but it sure would be nice.” Kadec believes the county can balance the rooftops by encouraging equine-related businesses, agri-tourism, and other industries that make preservation profitable. The same sentiment was mentioned frequently by residents recently in Comprehensive Plan meetings in the upper county. “

Waiving rights when buying property Hampton Roads Real Estate FAQ

Brian, can a home buyer waive their rights under the

 

Virginia Property Owner’s Association Act?

In a word, no. Va. Code § 55-509.4, which sets forth the Act’s

contract disclosure requirements and rights of cancellation, says:

Read the rest of the answer here lytle law-letter-10-27-08

Lytle Law is a general practice law firm located in Newport News, Virginia. From two office locations on the Virginia Peninsula we serve clients and try cases across the Commonwealth including the Peninsula, Newport News, Hampton, Williamsburg, James City and York County areas. Lytle Law has the experience and ability to satisfy nearly all of a client’s legal needs, and where we believe we need help we will either associate appropriate counsel or provide a referral. www.LytleLaw.com

Brian Lytle is the president of Lytle Title www.LytleTitle.com Lytle Title & Escrow, LLC a Virginia licensed, insured, and bonded real estate settlement company doing business as Lytle Title. With offices in Newport News and WIlliamsburg, Virginia,  primarily serving the Virginia Peninsula (Hampton, Newport News, York County,Poquoson, James City County and Williamsburg), but we also regularly serve surrounding areas, to include New Kent, West Point, Suffolk, Isle of Wight, Gloucester and the greater Tidewater and Hampton Roads areas of Virginia.

Brian D. Lytle, Esq., Lytle Law, P.C. www.lytlelaw.com  Reprinted with permission of the author. 

 The law may have changed since this article was written and published so caution is advised.

I have posted this article as a local REALTOR living and working in the Williamsburg Va area. I would be happy to assist you in buying or selling a  home there.  Click this link to search all real estate ,homes, condos town homes ,new and resale  currently for sale in New Town/ James City County Williamsburg VA

Click here to search all other real estate/ homes, condos ,townhomes, land for sale in the Williamsburg, James City, New Kent or York County Virginia

Click here to search for real estate,land,homes,condomiuns, town homes, commercial, in any of the following areas through the REIN MLS Database ( real estate information network) Chesapeake, Gloucester, Emporia, Greenvile, Hampton, Isle of Wight, Mathews,  Newport News, Norfolk, Northampton,  Poquoson, Portsmouth, Smithfield, Southampton, Suffolk, Sussex, Surry, VA Beach, York, Yorktown, Virginia

Click here to search real estate, land, homes, condos, town homes, commercial in the following counties of North Carolina Camden, Chowan, Currituck, Dare, Elizabeth City, Gates, Hertford, Moyock, Pasquotank, Perquimans using the REIN MLS Database

contact: John Womeldorf/ REALTOR

Liz Moore & Associates

757 254 8136

John@MrWilliamsburg.com email

www.MrWilliamsburg.com/ website

www.MrBurg.com website

www.MrTidewater.com/ website

www.MrVaBeach.com/ website

 

My other area Real Estate and Information Blogs for Hampton Roads/ Tidewater/ Williamsburg Virignia and surrounding areas

Williamsburg Real Estate Blog II

Williamsburg Real Estate Blog

Williamsburg Happenings/ Events Blog

 

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USA Today Article about Williamsburg VA

 Saw this article in USA Today and thought I would share. A previous article in Money Magazine rated Williamsburg as one of the top five place to retire in the USA. Now USA Today is recommending Williamsburg as a great area for a 2nd home purchase.
It’s great to receive all of this national and worldwide attention to out area. The Today Show was here recently filming a live episode from the restored area of Colonial Williamsburg. The 3 hour remote feed gave viewers a look into our wonderful region.

You can read the full article by Larry Olmstead in USA Today. Below are some highlights from the article.

Williamsburg , Virginia ,The best known city in  a region of Virginia known as the “Historic Triangle,” aptly nicknamed “where America began.” The claim is no exaggeration: In 1607, 13 years before the Pilgrims reached the shores of Massachusetts, three ships of pioneers landed in Jamestown, Va., the first permanent English settlement in the USA.

 

Today, Jamestown Settlement is just one of several historic sites packed into the area. The most popular is Colonial Williamsburg, which occupies the city of Williamsburg’s Historic Area. It’s a place where life today goes on just as it did more than 200 years ago, down to blacksmiths and farmers dressed for the part, all thanks to the non-profit Colonial Williamsburg Foundation.

The Colonial Williamsburg Foundation is the hub of our wheel, the centerpiece of the entire community .A lot of the people looking at second homes have visited it once or twice, or in some cases every year, and just fell in love with the place.

 

In addition to its wealth of historic sites and newer attractions such as the Busch Gardens amusement park, the region also is appealing for what residents say is its quality of life.

Everyone has a checklist of things they look for in a place, in ‘quality of life.’ We have a lot of things on those lists: small-town feel, a college town, four distinct seasons yet a mild climate. We are just an hour from the Atlantic and 2½ from the nation’s capital.”

The area is popular, too, with members of the military because of several large bases and stations nearby. Moreover, compared with other desirable second-home destinations, home prices in Williamsburg are reasonable: Seven-figure properties are almost unheard of.

The city of Williamsburg is small, just 9 square miles. Its population is 13,000 — nearly half of whom are students at the College of William & Mary. Much of the city is occupied by the Historic Area and the college, but most locals don’t differentiate between “downtown” and the nearby suburbs, just few minutes away.

Until not so long ago, most second homes have been in large, gated golf communities such as Kingsmill and Ford’s Colony. But a “new urbanism” has taken hold, an in-town mix of retail, commercial, residential, dining, services and entertainment.

A look at three Williamsburg neighborhoods:

• Kingsmill. Occupying nearly 3,000 acres, this resort development is owned by brewery giant Anheuser Busch. In addition to condos, townhouses and single-family houses, Kingsmill includes a hotel, spa, marina, restaurants, golf and tennis. Most townhouses or single-family houses are in the $300,000 to $500,000 range.

New Town. This 365-acre mixed-use village just outside the city, is an ongoing partnership between a construction company and the College of William & Mary’s endowment. It includes shopping and dining as well as condos and townhouses, with single-family houses planned. One-bedroom condos start at $229,000.

Downtown. Port Anne and Holly Hills and High Street are the primary options here. Port Anne and Holly are quiet, upscale neighborhoods of single-family houses near the college. Expect to pay $500,000 to $800,000. High Street is a new mixed-use development similar to New Town, except smaller at about 50 acres and without an office/business park component. Home prices also are similar to those in New Town.

 

I have posted this article as a local REALTOR living and working in the Williamsburg Va area. I would be happy to assist you in buying or selling a  home there.  Click this link to search all real estate ,homes, condos town homes ,new and resale  currently for sale in New Town/ James City County Williamsburg VA

Click here to search all other real estate/ homes, condos ,townhomes, land for sale in the Williamsburg, James City, New Kent or York County Virginia

Click here to search for real estate,land,homes,condomiuns, town homes, commercial, in any of the following areas through the REIN MLS Database ( real estate information network) Chesapeake, Gloucester, Emporia, Greenvile, Hampton, Isle of Wight, Mathews,  Newport News, Norfolk, Northampton,  Poquoson, Portsmouth, Smithfield, Southampton, Suffolk, Sussex, Surry, VA Beach, York, Yorktown, Virginia

Click here to search real estate, land, homes, condos, town homes, commercial in the following counties of North Carolina Camden, Chowan, Currituck, Dare, Elizabeth City, Gates, Hertford, Moyock, Pasquotank, Perquimans using the REIN MLS Database

contact: John Womeldorf/ REALTOR

Liz Moore & Associates

757 254 8136

John@MrWilliamsburg.com email

www.MrWilliamsburg.com/ website

www.MrBurg.com website

www.MrTidewater.com/ website

www.MrVaBeach.com/ website

 

My other area Real Estate and Information Blogs for Hampton Roads/ Tidewater/ Williamsburg Virignia and surrounding areas

Williamsburg Real Estate Blog II

Williamsburg Real Estate Blog

Williamsburg Happenings/ Events Blog

 

Williamsburg Va real estate search

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VHDA Home Ownership Classes for First Time Home Buyers in Hampton Roads Virginia

 

You can see the full schedule here vhda

Are you interested in becoming a homeowner but don’t know where to begin? The Virginia Housing Development Authority and local nonprofits are offering free home ownership education classes throughout November in the Hampton Roads region.

Homeownership education classes cover topics including credit issues, personal finances, home inspections and the role of lenders and real estate agents. To become eligible for VHDA loans, borrowers must complete VHDA’s Home ownership Class. Attend one of the many free sessions below to learn about the advantages of home ownership.

Upcoming classes will be held in Chesapeake, Newport News, Portsmouth, Hampton, VA Beach and Yorktown Virginia

You can find out more about VHDA here

 

Richmond Virginia Home Sales Increasing

Total homes sales in the core area of Richmond — the city and Chesterfield, Hanover and Henrico counties — rose 1.6 percent in the third quarter from the same period a year ago.

Hanover and Henrico reported sales increases of more than 2 percent, according to a report released  by the Virginia Association of Realtors ( VAR).

In the greater Richmond Virginia area, prices remained flat. The median price for new and existing homes, with half the houses selling for more and half for less, was about $238,000.

Amid the national financial uncertainties and news about the economy and stock markets, the central Virginia and Richmond economy and housing market are outperforming the country and most metropolitan areas, according to an analysis included in yesterday’s VAR report.

Sales are still slipping in Virginia — and in the greater Richmond metropolitan area — but not nearly as much as they were in the first half of the year, according to the report.

Nationally, third-quarter figures are not available. However, sales of existing single-family homes fell 10.7 percent in August from a year ago, according to the latest figures available from the National Association of Realtors. The median home price was $201,900 in August, down 9.7 percent from a year ago.

After nearly a year of sluggish sales and price depreciation, the housing market in Virginia is beginning to show signs of strength, said Lisa Fowler from the George Mason University School of Public Policy, who spoke yesterday during a news media conference call.

The state’s healthy economy is helping housing here as other markets continue to languish, Fowler said.

Home sales statewide fell 3.9 percent in the third quarter from the same period a year ago, according to the VAR report. The median price rose 1 percent to $232,601.

In central Virginia, which includes Richmond and 15 surrounding localities, sales fell 3.8 percent from a year ago.

The dip is mild compared with the first quarter when sales in the region dropped 31 percent in the first quarter and 28 percent in the second quarter from the year-ago periods.

The market in the Richmond area is stabilizing There is still a large inventory  of homes to choose from. We still need to see price reductions to increase sales.

The housing market across the state will benefit from a slowdown in construction, as inventory levels fall. Housing starts statewide are at their lowest level since the early 1990s.