• 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

Top Williamsburg VA Real Estate Brokers-June 2015

The numbers are in for June 2015 in the Williamsburg Virginia real estate market. . Year to date for 2015 our office (Liz Moore and Associates) has a commanding lead in market share with over 16% of the market.

Not to brag but our company’s listings and sales were greater than  the combined listings and  sales of  six area real estate brokerages : KIngsmill Realty, Fords Colony Realty, REMAX Capital , Century 21 Nachman, Twiddy Realty & Coldwell Banker Traditions,  who were the 6th-10th place finishers in sales in the Williamsburg VA real estate market year to date in 2015

In second place is Long and Foster,  third place is William E Wood and Associates followed by Berkshire Hathaway Home Services ( previously Prudential)

 

image

Note sales number above are from the Williamsburg Area Association of Realtors (WAAR) MLS numbers,  It reflects sales for Residential real estate : (Single Family Detach, Attached/Condo/Townhome, Condo, Townhouse), Lots and Land: within the zip codes of 23188,23185 and 23168.

 

If you’re a Williamsburg or Hampton Roads VA Home seller who has been wondering if it might finally be time to sell, email me a tJohn@MrWilliamsburg.com or call 757 254 8136 , and I can prepare a complimentary analysis of market value for you – you just may be pleasantly surprised.

Top selling Neighborhoods in Williamsburg VA. 2014

Its always interesting to look back to see the top selling neighborhoods in Williamsburg VA.  The areas covered in the report below this includes the City of Williamsburg, James City County and Upper York County.   The numbers are from the Williamsburg Area Assoc of Realtors MLS. There could be some sales ( new construction, for sale by owners) that don’t show up in this report.

 

Ranking

Subdivision

# Listings Sold

1

Fords Colony

110

2

Kingsmill

102

3

New Town

51

4

Colonial Heritage

44

5

Powhatan Secondary

30

6

Braemar Creek

28

7

White Hall

27

8

Governors Land

25

9

Seasons Trace

24

10

Stonehouse

21

11

Villages of Westminster

20

12

Greensprings West

19

13

The Settlement at Powhatan Creek

19

14

Pointe @ Jamestown

17

15

Queens Lake

17

16

LaFontaine

16

17

Creekside Landing

14

18

Brandon Woods

13

19

Chickahominy Haven

13

20

Holly Hills

13

21

The Mews

13

22

Wellington

13

23

Monticello Woods

12

24

Scotts Pond

12

25

Skipwith Farms

12

26

Chisel Run

11

27

Longhill Station

11

28

Settlers Mill

11

29

Villages of Powhatan

11

30

Windsor Forest

10

31

James Terrace

9

32

Liberty Crossing

9

33

Longhill Gate

9

34

Mirror Lake Estate

9

35

Powhatan Crossing

9

36

The Midlands

9

37

Williamsburg Bluffs

9

38

Berkeleys Green

8

39

Claiborne

8

40

Fairways Villas

8

41

Springhill

8

42

Stonehouse Glen

8

43

Carver Gardens

7

44

Michelle Point

7

45

The Cottages at Stone Haven

7

46

Vineyard Height

7

47

Williamsburg Commons

7

48

Fenwick Hills

6

49

Kristiansand

6

50

Queenswood

6

51

Riverview Plantation

6

52

St. Georges Hun

6

53

Sterling Springs

6

54

The Oaks at Fenton Mill

6

55

Westgate

6

56

Williamsburg Village

6

57

Adams Hunt

5

58

Canterbury Hill

5

59

Ewell Hall

5

60

Greensprings Plantation

5

61

Grove

5

62

Indigo Park

5

63

Jamestown Hundred

5

64

Patriot Condominium

5

65

The Oaks

5

66

Wyndham Plantation

5

67

York Terrace

5

68

Brandywyne

4

69

Chancos Grant

4

70

Cypress Point

4

71

Fernbrook

4

72

First Colony

4

73

Fox Ridge

4

74

Governor’s Grove

4

75

Heritage Landing

4

 

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.

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

I look forward to serving your real estate needs!

Best,

John

Top 11 home sales of 2014 in Williamsburg VA

This time of year it’s always interesting to look back and review the most expensive homes sold in the Williamsburg VA area.

In 2014 there were 11 single family homes which sold for $1,000,000 or more in the Williamsburg area. ( note I am including nearby Charles City) A slight increase from the same period a year before where nine homes sold for over a million dollars

While multi-million dollar price tags create oohs and aahs, it’s nothing more than a price tag until it’s sold. Four out of the top ten most expensive home sales in 2014 were in the Kingsmill Community. The average discount from list price on the 11 homes was 10% from list price, ( although that doesn’t count data from homes that are relisted so the real number is below that. The average sale price per square foot for the top ten list was $361 per square foot. Unlike the Washington DC area where 266 homes sold for $5 million or more last year. Our median selling price for the top 10 home sales was $1.250,000. Aside from the $3.4 million home sale the other homes ranged in price from $1 million to $1.8 million.

In 2014 the highest dollar transaction for a home sale in the Williamsburg VA area was $3.4 million dollars for a waterfront estate located on the James River in Charles City County.

By neighborhood Kingsmill was the leader on the list with four of the top 11 transactions. Fords Colony, Governors Land and Riverview Plantation each had one on the list.

Back to #1 on the list, initially listed at $5.4 million the spectacular 146 acre waterfront retreat on the James River included 1.5 miles of riverfront. The  5,000 square foot , 4 bedroom, 5 bath home offered water views from all of it’s rooms.  Outdoor features included a pool, dock, recreation pavilion & walking trails . An aerial photo is below…

image

Tied for second place on the list were homes in Kingsmill and Fords Colony.   The 8000 square foot  home at 324 Dogleg was the personal home of Dick and Dorothea Ford the developers of Fords Colony.   Where most of the lots in Fords Colony are half an acre in size this home sat on almost five acres with views of 4 holes of golf and water.  Originally listed for for $2,395,000 the home sold for $1,800,000 after 284 days on the market. This lot and home were truly one of a kind.

 

image

 

Tied for #2 at $1.8 million was this 8800 square foot home in Kingsmill’s Sandy Fort Neighborhood. Sited on a rolling private one+ acre lot it overlooks a scenic easement that backed to Carter Grove Country Road.

andrew lindsey

image

#3  on the list with a sales price of $1,670,000 was an historic property in Charles City. Burlington Plantation was built in 1818

After 1859 the property passed to John Mumford Gregory, a member of the
Virginia House of Delegates and Governor of Virginia for a short time during the civil
war. The property included 260 acres land on Mapsico Creek, Outbuildings included a smokehouse, ice house four car garage, caretakers cottage and more.

 

109 greens way#4 on the list was this 7000 square foot home in the Brownings Grant section of Kingsmill. Built in 2008 by Joel Sheppard . The home sold for $1,3000,000 after being listed for $4.499.000

#5 on the list with a sales price of $1.250.000 was this waterfront home in Charles City County just across the Rt five bridge on John Tyler Hgwy. If you look to the left when you are crossing the bridge you will see the home.

The home sits at the mouth of the Chickahominy River and enjoys amazing sunrise and sunset on the James River.image

#6 on the list at a selling price of $1,150,000 was another waterfront home. This one located in the Riverview Plantation neighborhood on the York River. The home was built in 2008 replacing the sellers previous home.

riverview plantation home

Watch for the remainder of the list later this week..

 

Mapping the top 11 homes sales in 2014

 

image

1. 19101 Sandy Point Rd , Charles City VA 2. 120 Andrew Lindsey , Williamsburg VA Kingsmill
3. 324 Dogleg Dr , Williamsburg VA Fords Colony 4. 205 Harrison Ave , Williamsburg VA
5. 1608 Harbor Rd , Williamsburg VA Gov Land 6. 207 Rivers Edge , Williamsburg VA Kingsmill
7. 141 Riverview Plantation Dr , Williamsburg VA Riverview Plantation 8. 16520 Chickahominy Bluff Rd , Williamsburg VA
9. 109 Greens Way , Williamsburg VA Kingsmill 10. 13501 John Tyler Hwy Hwy , Charles City VA
11. 309 Rivers Edge , Williamsburg VA Kingsmill


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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 post was 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

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

Who sells more real estate in Williamsburg VA ?

December  2014-The numbers are in for November 2014 in the Williamsburg VA real estate market. While it was a close race way back in 2012 for market share in the month of November 2014 our office (Liz Moore and Associates) has a commanding lead in market share with over 18% of the market. Our listings and sales were almost equal to combined sales of Kingsmill Realty, Fords Colony Realty, Twiddy Realty, Coldwell Banker Traditions, Century 21 Nachman Realty, and ReMax Capital, who were the 6th-10th placed brokerages in town.

image

Note sales number above are from the Williamsburg Area Assoc of Realtors (WAAR) MLS numbers,  It reflects sales for Residential real estate : (Single Family Detach, Attached/Condo/Townhome, Condo, Townhouse), Lots and Land: within the zip codes of 23188,23185 and 23168.

 

An important trend to study is how market share is shifting in our market. From the chart below we can see that only three brokerages are increasing their Williamsburg VA market share. Liz Moore and Associates, Kingsmill Realty and Twiddy. The remaining seven of the top ten brokerages are experiencing a drop in market share that ranges from 4.86% to almost 15%.

image

If you’re a seller who has been wondering if it might finally be time to sell, email me at John@MrWilliamsburg.com  or click below, and we can prepare a complimentary analysis of market value for you – you just may be pleasantly surprised.

what is my williamsburg va home worth


eSignature_Womeldorf

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.

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

September 2014 Real Estate Market Share Update Williamsburg VA

October 2014-The numbers are in for September 2014 in the Williamsburg VA real estate market. While it was a close race back in 2012 for market share with the lead changing between the offices of William E. Wood and Liz Moore and Associates. Year to date for 2014 our office (Liz Moore and Associates) has a commanding lead in market share with almost 18% of the market.

Our office’s listings and sales were almost equal to the combined listings and  sales of  six area real estate brokerages : KIngsmill Realty, Fords Colony Realty, Twiddy Realty, Coldwell Banker Traditions,  Century 21 Nachman and ReMax Capital  who were the 6th-10th place finishers in sales in the Williamsburg VA real estate market year to date in 2014

October 2014-The numbers are in for September 2014 in the Williamsburg VA real estate market. While it was a close race back in 2012 for market share with the lead changing between the offices of William E. Wood and Liz Moore and Associates. Year to date for 2014 our office (Liz Moore and Associates) has a commanding lead in market share with almost 18% of the market.

If you’re a Williamsburg or Hampton Roads VA Home seller who has been wondering if it might finally be time to sell, email me at John@MrWilliamsburg.com , and I can prepare a complimentary analysis of market value for you – you just may be pleasantly surprised.

How is the real estate market in Williamsburg ? April 2014

We are almost halfway through 2014 and the Williamsburg VA real estate market is moving along strongly. Although we show 6.9 months of inventory in the Williamsburg market that’s a little deceiving. Some of that is proposed construction. Homes that are priced right and in good condition are selling quickly. We have seen a few homes recently with multiple offers within a few days of being listed..

Interest rates remain low  We expect this trend to continue for the next several months.  Right now our biggest issue is finding houses to sell.

If you’re a Williamsburg home owner who has been wondering if it might finally be time to sell, email John@MrWilliamsburg.com and we can prepare a complimentary analysis of market value for you – you just may be pleasantly surprised.

LMA_info-wmb 4-14

How’s the Williamsburg Real Estate Market Feb 2014

infographics_ecard-wmg2-14

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 post was 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.

You can search homes for sale , active adult communities, 55+ communities,  condos and townhomes , land and commercial property for sale in Williamsburg, Yorktown, New Kent,  Poquoson, and Gloucester, VA as well as surrounding markets here

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

I look forward to serving your real estate needs!

Best,

John Womeldorf

September 2013 Real Estate Market Share-Williamsburg VA

October 2013-The numbers are in for September 2013 in the Williamsburg VA real estate market. While it was a close race in 2012 for market share with the lead changing between the offices of William E. Wood and Liz Moore and Associates. Year to date for 2013 our office (Liz Moore and Associates) has a commanding lead in market share with over 16.61 % of the market.

Our office’s listings and sales were greater then the combined listings and  sales of  Century 21 Nachman, Twiddy Realty, Coldwell Banker Traditions, Fords Colony Realty and Kingsmill Realty and Abbitt Realty who were the 6th-10th place finishers in sales in the Williamsburg VA real estate market year to date in 2013

image

Two more telling statistics : Of the top four real estate brokerages in town we enjoy the lowest days on market at 90 days, compared to the 118-150 days of our competitors.

And lastly , our company with 37 agents selling has the highest productivity per agent in town.!

image

The million dollar plus real estate market in Williamsburg

A brief recap of the $ million dollar plus real estate market in Williamsburg in the last 12 months.

Currently there are 3 homes under contract and pending currently, 2 in Gov Land and one in the Vineyards + Nine sales in the last 12 months that have closed.

Of the nine sales two were in Fords Colony, one in Liberty Ridge. Three in Governors Land, three in Kingsmill.

At our current rate of sales and inventory we have a 3.3 years supply of homes over $ One million dollars.

Of the 40 homes listed 11 are in Fords Colony,  11 are in Gov Land, 9 are in Kingsmill.

Others are in a few other nearby small neighborhoods including Landfall, The Woods, Stonehouse, Rivers Bend at Uncles Neck and Graylin Woods.

image

 

Williamsburg VA home sales soar 58% over last year

June  2013 Market Observations

The Williamsburg VA  real estate market continued to demonstrate it’s strength in in June  2013 with home sales up a staggering 58.93% over the previous June.

williamsburg va home sales June 2013The closed median home price in June2013 for the Williamsburg  VA market , which includes the City of Williamsburg, James City County and Upper York County’s housing data, was $323,969, a slight reduction from a year ago but a difficult number to peg as it depends on the range of housing sold.

NOTE: these figures will most likely increase as real estate brokerages continue to post sales updates from June sales

In our Williamsburg home market, Pending Sales for June are up a whopping 38.71% to  1.63% to 129 versus June of last year at 93 that went under contract.

Available home inventory levels continue to shrink , the month’s supply of inventory is currently 7.3 months compared to 11 months in June of 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. Total inventory of homes for sale in Williamsburg stands at 826 as compared to 990 homes for sale last year in June.

Williamsburg home sellers this month are experiencing an average 97.8 percent sales price to list price ratio. This average is a 1.11 percent increase over 2012.. The increase can be attributed to high demand and limited inventory. ( in other words if the home was listed for $100k, it sold it for $97,800)

Homes priced right and in good condition are continuing to sell quickly which is reflected in the Days on Market time of only 62 days this year versus 92 days in 2012

image

 

See real time data here for Williamsburg VA home sales statistics

Note: These statistics are from the Williamsburg VA MLS (WAAR WMLS) and cover the 23185,23188 and 23168 zip code regions. This includes the City of Williamsburg, James City County , Toano, Norge, Lightfoot, Lanexa, and the upper part of York County, (Bruton District)

Time to Buy? Sell?

As we always say, the best time to buy or sell a home is when you need to buy or sell. If you have a house to sell, selling when its a buyers market may hurt you on the selling end, but you’ll make it up on the buying end. If you’re trying to get into the market for the first time, the only way you’ll know that we’ve “hit bottom” is when its in the rear view mirror. Work with professionals who can help you analyze your financial and lifestyle to determine if now is the right time to buy or sell.

Looking strictly at the numbers, it appears the recommendation for this month is (again)…it’s time to sell. With inventory at record lows, a home that’s priced right will have no problem finding a buyer. As we head into June 2013, buyers who have been waiting for more inventory will continue their searches. Get your home on the market now and be moved into your new home by July ! If you’re looking to sell, we can help you get top dollar for your home in the shortest time. For more info about the best home selling program in Williamsburg VA  visit Sell MY WILLIAMSBURG HOME

If you’re a buyer, that doesn’t mean sit on the fence and wait. Interest rates are increasing and will continue to do so. Buying now could mean a difference in hundreds of dollars to your payment. As more and more inventory gets snatched up, you’ll find less and less available. Waiting until the market slows down could mean you could afford less home as interests rates go up. And, as buyers continue to snatch up everything, market values will go up as well. If you’re looking to get into the market, the best time to find a great deal is any time you can.

Questions About the Williamsburg Real Estate ?

Do you have questions about Williamsburg Real Estate ? Call or text 757.254.8136 or email John@MrWilliamsburg.com  and we’ll help you in any way we can.

If you’re looking to buy or sell Williamsburg Yorktown, New Kent or Gloucester VA real estate, don’t forget to check out our Buyer Center or Seller Center  for more tips.

nosy neighbor mr williamsburg Nosy Neighbor

Are you interested in monitoring home value trends in your Williamsburg , Yorktown, Gloucester, New Kent or Hampton Roads 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.

How’s the June 2013 real estate market in Williamsburg VA ?

With the passing of the 4th of July it’s time to take a look back and see how the Williamsburg VA real estate market has fared so far this year.. It always takes a while for all sales/contracts to get recorded so these numbers are best reviewed after the 10th of the month.

I work both in Williamsburg VA and the greater Hampton Roads area. So the stats below 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.

The chart below show a year-over-year comparison for January through June for each year from 2009 through 2013. What do we see?

image

Total number of home sales in Williamsburg in the first half of 2013 was 680 homes. ( an almost 30 percent increase over 2012 and a whopping 51% increase over 2011.

Despite low inventory, this is the most homes sold in Williamsburg in the first half of the year since 2004. (Note to Sellers – It’s a GREAT time to sell. Low inventory puts YOU in the driver’s seat!).

Median Sale Prices Going Up The median price of  homes sold locally in Williamsburg Va  in June edged up about 6.27 percent compared to those sold during the same period last year, according to the latest statistics from the region’s Realtors’ association. Prices are up from $296k to $315k.

image

Months Supply of Home Inventory  Decreases
The total housing inventory at the end of June  2013 decreased by 13.89% to 862 existing homes available for sale. In June of 2012 we had a 12 month inventory of homes. That number has dropped to 8.04 months worth of inventory in June 2013.( A 32% drop since 2012)

That number is even lower in some neighborhood markets swinging things back to a seller market in some instances.

( Six months supply is considered a balanced market) less than that and it’s a sellers market.  This number can also be skewed by a large number of proposed construction homes as well.

Days on market continues to drop, over 10% to 73 days.

image

The median asked-to-sold ratio is  98.42%,  up from 96.83% in  June of last year. So if a home is listed for $100k its selling for $98,420 on average.

image

Click here for real time stats

Psst—–I’m a real estate agent.

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..

If you’re a buyer, its not too late to get a deal. Prices are still well below the peak of 2007/2008. Interest rates have increased but are still in the 4%+ range , they will be increasing. A year or two from now you will be saying why didn’t I act back then.

Connect with me John@MrWilliamsburg.com to see how I can help…

Home Buyers-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.

Home Sellers-If you’re a seller who has been wondering if it might finally be time to sell, email John@MrWilliamsburg.com I would be happy to meet to see if now is the time to sell. – you just might be pleasantly surprised. 

Will Rising Interest Rates Lead to Home Buyer Rush ?

Mortgage rates soared to a two-year high last week, rising by the largest pace since 1987.  (4.46%)  Some economists are predicting 30-year rates to climb to 4.5 percent and 5 percent over the next 12 months, following the Federal Reserve’s recent announcement that it will soon end a program that has kept interest rates near all-time lows for months.

Home buyers may be concerned that the rising rates will dampen housing affordability. But economists say that rising rates shouldn’t derail the housing market recovery.

"Some people might decide to buy a smaller house in a different area, but you won’t see a big decline based just on interest rates," says Jay Brinkmann, the Mortgage Bankers Association’s chief economist. "In the past, you would see a rise in homebuying activity with rate increases. People who are on the fence about buying a home get off the fence in a hurry when rates start to go up.”

As rates have edged up recently, pending home sales have moved up too. They rose 6.7 percent in May from April—at the highest rate since late 2006, the National Association of REALTORS® recently reported.

Analysts also point out that mortgage rates are still low by a historical perspective, even if they do tick up to 5 percent.

"Anything below 6 percent is historically favorable," says Keith Gumbinger, vice president of HSH, a mortgage data publisher.

according to Freddie Mac’s latest U.S. Economic and Housing Market Outlook.

Despite the rising rates, housing still remains affordable. According to Freddie Mac economists, it would take interest rates rising closer to 7 percent before families earning median incomes would face housing affordability issues.

"The recent upturn in interest rates is sparking fears among some that the nascent economic and housing recoveries will be choked off before they produce sustained growth," says Frank Nothaft, Freddie Mac’s chief economist. "Nothing in the recent trends suggests that we need to fear a major slowdown. A gradual rise in interest rates will not derail the recovery, and are an indication that the overall economic situation is improving."

Source: “Mortgage Rates Won’t Derail Housing Recovery, Analysts Say,” Investors Business Daily (June 27, 2013)

Boomers Rationalize, Plan to Retire Earlier

The path of economic recovery has made baby boomers more optimistic about their retirement timeline. According to 2013 Del Webb Baby Boomer Survey data released this month, the majority of boomers surveyed now say they expect to retire sooner than they planned to in 2010.

According to the survey, which polled still-working boomers ages 50 to 60 years old, most plan to retire from their current full-time career by the age of 65, compared to a median age of 67 in 2010.

  • More than half (57 percent) of still-working boomers surveyed intend to retire from their current full-time career by age 65.
  • The boomer retirement plan today is more in line with Del Webb Baby Boomer data from nearly 20 years ago (1996), when 50-year-olds planned to retire at a median age of 63.
  • Meanwhile, consistent with prior boomer surveys, 41 percent are either likely or very likely to move at some point, with 29 percent currently undecided on a future move.

"Boomers are clearly feeling more positive about their situation and the housing market in general, with more expecting to retire sooner than just three years ago," said Deborah Wahl, senior vice president and chief marketing officer for PulteGroup Inc., parent company of Del Webb, the nation’s leading builder of communities targeted to pre-retirement and retiring boomers. "The percentage of respondents who indicate that they are likely to move again is comparable to prior studies and is significant when you consider the vast group of 79 million boomers in America today."

Wahl said the survey data are consistent with the trends Del Webb is experiencing as boomers continue to indicate they are more comfortable with the housing market and their overall financial position. Del Webb had a 19 percent increase in 2012 sales compared with 2011.

What Work Looks Like at 65
While 79 percent of boomers anticipate working in some capacity, even after they retire from their current job, many are planning to make a change.

  • 51 percent plan to work full time either in their current or at an entirely new job; 28 percent anticipate working part-time or having a flexible schedule; and 21 percent anticipate no longer working for a paycheck.

Of those who plan to work full or part time at age 65:

  • 18 percent plan to do something different than their current career.
  • The majority (74 percent) anticipates working in a traditional office setting or off-site location; 14 percent expect to primarily work from home; and 12 percent anticipate a combination of telecommuting and working from an off-site location.

Family, Active Lifestyle Take Priority at 65
While the vast majority of still-working 50 to 60 year old boomers plan to work in some fashion when they are 65, most hope to find better balance in their lives, according to the survey. At age 65, only three in ten (30 percent) anticipate their job will be a primary focus. When asked how they will feel about their career and lifestyle, the top responses were:

  • Focusing on activities and hobbies that enhance physical/mental well-being (62 percent)
  • Spending time/focusing on family (51 percent); and
  • Traveling (34 percent)

"While boomers are still working, they are not putting off a retirement lifestyle," Wahl said. "An increasing number of our Del Webb homeowners continue to work in some fashion, but have changed their focus from their careers to their family and activities that enrich their lives."

Why Work? Finances Are Not the Only Motivation
While many boomers say they aren’t financially prepared to retire (66 percent), some are making a deliberate choice to work longer for other reasons:

  • To ward off boredom/maintain a sense of purpose (51 percent)
  • Like to work and are doing it for self-satisfaction (46 percent)
  • Maintain insurance benefits (29 percent)
  • Spend time away from spouse/significant other (6 percent)

Boomers Have Different Definitions of Retirement
Respondents were asked to define "retirement" and had varying views on what it means. Some define retirement as still working, but in a different capacity than their current full time career.

  • Most (58 percent) said "not having to work," "working when you want to," or "not depending on others to make a living" defines retirement. Many boomers (31 percent) define retirement as "enjoying life" and doing their favorite activities.
  • Twenty two percent define retirement as "financial security," "being able to live comfortably," and "not worrying about money."

About the Survey
The Del Webb Baby Boomer Survey polled 520 online, still-working baby boomers ages 50 – 60 years old across the U.S. to identify their attitudes toward retirement. The survey was conducted online by Russell Research April 19 – 22, 2013. At a 95 percent confidence level, a margin of sample error of +/- 4.2 percent applies to the sample. Figures for gender, age and geography were weighted where necessary to match their actual proportions in the population.

About Del Webb
Del Webb is the pioneer in active adult communities and America’s leading builder of new homes targeted to pre-retirement and retiring boomers.

Del Webb builds consumer inspired homes and communities for active adults ages 55+ who want to continue to explore, grow and learn, socially, physically and intellectually as they look forward to retirement. For more  visit www.delwebb.com.

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Questions About the Williamsburg Real Estate ?

Do you have questions about Williamsburg Real Estate ? Call or text 757.254.8136 or email John@MrWilliamsburg.com  and we’ll help you in any way we can.

If you’re looking to buy or sell Williamsburg or Yorktown VA real estate, don’t forget to check out our Buyer Center or Seller Center  for more tips.

Search homes for sale in Active Adult  Communities in Virginia Beach, Chesapeake, New Kent,  Smithfield, Yorktown and Williamsburg, Virginia

nosy neighbor mr williamsburg Nosy Neighbor

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.

Top Williamsburg VA Real Estate Brokers June 2013

June 2013-The numbers are in for June 2013 in the Williamsburg VA real estate market. While it was a close race in 2012 for market share with the lead changing between the offices of William E. Wood and Liz Moore and Associates numerous times but as of June 2013  our office (Liz Moore and Associates) has a commanding lead in market share with over 19.29 % of the market. Our office’s listings and sales were greater then the combined listings and  sales of combined listings and  sales of , Kingsmill Realty, Fords Colony Realty, Coldwell Banker Traditions, Twiddy Realty, Century 21 Nachman, ReMax Capital. who were the 4th-10th place finishers in sales in the Williamsburg VA market in May 2013

In second place is William E Wood and Associates, , third place is Long and Foster and in forth place with about 50% of our market share is Prudential Towne Realty.

Two more telling statistics : Of the top four real estate brokerages in town we enjoy one of  the lowest days on market at 98, compared to the 111-324 days of our competitors.

PicMonkey Collage

And lastly , our company with 36 agents selling has the highest productivity per agent in town.!

just sayin !

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Note sales number above are from the Williamsburg Area Assoc of Realtors (WAAR) MLS numbers,  It reflects sales for Residential real estate : (Single Family Detach, Attached/Condo/Townhome, Condo, Townhouse), Lots and Land: within the zip codes of 23188,23185 and 23168.( City of Williamsburg, James City County, Upper York County.

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.

See real time data here for Williamsburg VA home sales statistics

Download a 10 page detailed report for Williamsburg Home Sales Statistics May 2013 here

Click here for real time stats

Time to Buy? Sell?

As we always say, the best time to buy or sell a home is when you need to buy or sell. If you have a house to sell, selling when its a buyers market may hurt you on the selling end, but you’ll make it up on the buying end. If you’re trying to get into the market for the first time, the only way you’ll know that we’ve “hit bottom” is when its in the rear view mirror. Work with professionals who can help you analyze your financial and lifestyle to determine if now is the right time to buy or sell.

Looking strictly at the numbers, it appears the recommendation for this month is (again)…it’s time to sell. With inventory at record lows, a home that’s priced right will have no problem finding a buyer. As we head into June 2013, buyers who have been waiting for more inventory will continue their searches. Get your home on the market now and be moved into your new home by July ! If you’re looking to sell, we can help you get top dollar for your home in the shortest time. For more info about the best home selling program in Williamsburg VA  visit Sell MY WILLAIMSBURG HOME

If you’re a buyer, that doesn’t mean sit on the fence and wait. Interest rates are increasing and will continue to do so. Buying now could mean a difference in hundreds of dollars to your payment. As more and more inventory gets snatched up, you’ll find less and less available. Waiting until the market slows down could mean you could afford less home as interests rates go up. And, as buyers continue to snatch up everything, market values will go up as well. If you’re looking to get into the market, the best time to find a great deal is any time you can.

QUESTIONS ABOUT THE WILLIAMSBURG REAL ESTATE ?

Do you have questions about Williamsburg Real Estate ? Call or text 757.254.8136 or email John@MrWilliamsburg.com  and we’ll help you in any way we can.

If you’re looking to buy or sell Williamsburg or Yorktown VA real estate, don’t forget to check out our Buyer Center or Seller Center  for more tips.

nosy neighbor mr williamsburg Nosy Neighbor

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.

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

May 2013 Market Observations

The Williamsburg VA  real estate market continued to demonstrate it’s strength in May 2013 with home sales up  32.69% over the previous May.

The closed median home price in May 2013 for the Williamsburg  VA market , which includes the City of Williamsburg, James City County and Upper York County’s housing data, was $303.500, close to holding even with the price from a year ago.

NOTE: these figures will most likely increase as real estate brokerages continue to post sales updates from May sales

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Available home inventory levels continue to shrink , the month’s supply of inventory is currently 8 months compared to 12 months in May of 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 percent sales price to list price ratio. This average is a 1.4 percent increase over 2012.. The increase can be attributed to high demand and limited inventory. ( in other words if the home was listed for $100k, it sold it for $98,000)

  • Total inventory for sale is at 870 homes, a 16 percent decrease from the 1042 homes on the market in May of 2012 .The limited amount of inventory continues to inflate pricing and intensify demand for properties.
  • The time on market decreased dramatically this month showing a 32 percent reduction of days on market  to 51 days from 75 days last year.

Note: These statistics are from the Williamsburg VA MLS (WAAR WMLS) and cover the 23185,23188 and 23168 zip code regions. This includes the City of Williamsburg, James City County , Toano, Norge, Lightfoot, Lanexa, and the upper part of York County, (Bruton District)

See real time data here for Williamsburg VA home sales statistics

Time to Buy? Sell?

As we always say, the best time to buy or sell a home is when you need to buy or sell. If you have a house to sell, selling when its a buyers market may hurt you on the selling end, but you’ll make it up on the buying end. If you’re trying to get into the market for the first time, the only way you’ll know that we’ve “hit bottom” is when its in the rear view mirror. Work with professionals who can help you analyze your financial and lifestyle to determine if now is the right time to buy or sell.

Looking strictly at the numbers, it appears the recommendation for this month is (again)…it’s time to sell. With inventory at record lows, a home that’s priced right will have no problem finding a buyer. As we head into June 2013, buyers who have been waiting for more inventory will continue their searches. Get your home on the market now and be moved into your new home by July ! If you’re looking to sell, we can help you get top dollar for your home in the shortest time. For more info about the best home selling program in Williamsburg VA  visit Sell MY WILLIAMSBURGSBURG HOME

If you’re a buyer, that doesn’t mean sit on the fence and wait. Interest rates are increasing and will continue to do so. Buying now could mean a difference in hundreds of dollars to your payment. As more and more inventory gets snatched up, you’ll find less and less available. Waiting until the market slows down could mean you could afford less home as interests rates go up. And, as buyers continue to snatch up everything, market values will go up as well. If you’re looking to get into the market, the best time to find a great deal is any time you can.

Questions About the Williamsburg Real Estate ?

Do you have questions about Williamsburg Real Estate ? Call or text 757.254.8136 or email John@MrWilliamsburg.com  and we’ll help you in any way we can.

If you’re looking to buy or sell Williamsburg or Yorktown VA real estate, don’t forget to check out our Buyer Center or Seller Center  for more tips.

nosy neighbor mr williamsburg Nosy Neighbor

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.

Who sells more Williamsburg VA Real Estate-May 2013

May 2013-The numbers are almost in for May 2013 in the Williamsburg VA real estate market. While it was a close race in 2012 for market share with the lead changing between the offices of William E. Wood and Liz Moore and Associates. Year to date for 2013  our office (Liz Moore and Associates) has a commanding lead in market share with over 18.47 % of the market. Our office’s listings and sales were greater then the combined listings and  sales of ReMax/Capital, Century 21 Nachman, Twiddy Realty, Coldwell Banker Traditions, Fords Colony Realty and Kingsmill Realty who were the 6th-10th place finishers in sales in the Williamsburg VA real estate market year to date in 2013

In second place is William E Wood and Associates, , third place is Long and Foster imageand in forth place with about 50% of our market share is Prudential Towne Realty.

two more telling statistics : Of the top four real estate brokerages in town we enjoy the lowest days on market at 104, compared to the 118-150 days of our competitors.

Another telling fact, our company with 31 agents selling has the highest productivity per agent in town.!

.

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Note sales number above are from the Williamsburg Area Assoc of Realtors (WAAR) MLS numbers,  It reflects sales for Residential real estate : (Single Family Detach, Attached/Condo/Townhome, Condo, Townhouse), Lots and Land: within the zip codes of 23188,23185 and 23168.

Download a detailed sales report for Williamsburg VA Real Estate April 2013 here

Nosy Neighbor Alerts

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.

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

Sweet spot for Williamsburg VA Real Estate

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.

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

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.

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        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.

        How’s the Williamsburg Real Estate Market March 2013

        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

        Housing is Back !

        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.

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

        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

        What is $521,700.00 ?

        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.

        Why is the seller asking more than assessed value ?

        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)

        Who sold more Fords Colony real estate in 2012 ?

        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,

        Fords Colony Real Estate Market Turns Around in 2012

        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

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

        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!

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        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

        Williamsburg VA Real Estate Market heads upward !

        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

        How’s the real estate market in Williamsburg ?

        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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        Where are the single female home buyers ?

        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

        CoreLogic: national home prices continue to inch upward

        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.