• 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

Hampton Roads real estate market continues its upward trend…

August 12, 2012

As a real estate agent in the Williamsburg and Hampton Roads market I post sales updates from two different MLS.  Here in Williamsburg we have the WAAR ( Williamsburg Assoc of Realtors) WMLS.  East of Williamsburg both on the peninsula and in Southside Hampton Roads  we use REIN (Real Estate Information Network) and to confuse you even more in Gloucester there is the CBRAR (Chesapeake Bay Association of Realtors) and west of Williamsburg is CVRMLS (the Central Virginia Regional MLS)

The info below is from REIN

The Hampton Roads residential real estate market continues to experience encouraging trends. August 2012 results, such as a year-over-year drop in active listings and year-over-year increases in residential under contract sales and settled sales, combine to indicate a stabilizing local market.

 

The Hampton Roads residential real estate market continues to experience encouraging trends. August 2012 results, such as a year-over-year drop in active listings and year-over-year increases in residential under contract sales and settled sales, combine to indicate a stabilizing local market.The number of  homes listed for sale in the region has dropped almost 16%  when compared to August 2011. This marks the 18th consecutive month that home listings have dropped over the previous year. Virginia Beach and Chesapeake experienced the largest year-over-year decline in active listings at 23.09% and 20.85% respectively.

 

The region’s months’ supply of inventory is currently down to 7  months. A six month inventory is considered a balanced market so we are almost there.

 

Sustained drops in residential active listings are the root source of this lower months’ supply.

Homes under contract or  pending sales increased 23.28% in August 2012, when compared to August last year. Chesapeake and Suffolk underwent the largest increases in residential pending sales at 40.08% and 34.83%. This boost in the number of homes that went under contract should  lead to a large spike in settled sales over the coming months.

 

Compared to the same month in 2011, closed home sale in the Hampton Roads area increased 16.74%. Suffolk and Newport News lead the region’s major cities in year-over-year increases at 33.7% and 22.4% respectively.

 

August 2012 marks the sixth consecutive month that median home sales price in Hampton Roads has increased year-over-year. August 2012’s median sales price was $208,535, up 1.72% from $205,000 in August 2011.

 

The distressed homes market (foreclosures and short sales) continues to show signs of improvement as well.    Based on August 2012 stats. Distressed homes, those that are bank-owned or short sales, accounted for 24.74% of all listings. This marks the 10th consecutive month distressed homes have declined as a percentage of closed residential sales in Hampton Roads VA.

 

image

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Psst…I’m a real estate agent.

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

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

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

Area Orientations

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

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

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

Suffolk, Loudon, Prince William Make Top 10 List for Job Growth in US

#9. Suffolk, VA job growth (2000-2011): 43.0% While actually a city not a county CNN noted It's smooth sailing for job growth in Suffolk, thanks to the Navy's recent decision to relocate four commands, . The move will add nearly 1,000 jobs -- which is about the total number of new jobs added to the area in all of 2011.  Suffolk is also located close to the Port of Virginia, and like many of the places on the list, quality of life is a big selling point here. Schools, transportation and community are all strong in this city with historic charm.It’s still a tough job market, but these three Virginia localities counties can make it a lot easier to find work and a great place to live.

This week, CNN Money Magazine published their annual list of ““Where the Jobs Are”

Virginia had three localities in the top ten list of U.S. counties with the highest job grown from 200-2011.

Loudoun County was ranked number 1 with the highest job growth rate, at 83.6 percent. Prince William County was eighth with a job growth rate of 48.6 percent, and Suffolk (which actually is a city) was ninth with a job growth rate of 43 percent.

#1. Got data? Loudoun County , VA does. Lots of it. With its expansive fiber networks and a swarm of tech workers, it’s a major traffic hub on the East Coast. The latest boom to hit this area is data centers, which now occupy 4.3 million square feet in the county, earning Loudoun the nickname "Data Center Alley."

Easy access to the nation’s capital and Dulles International Airport also creates opportunities for government and the airline and freight servicing industries.

#8 .Prince William County, VA takes the crown when it comes to offering enticing perks to businesses. Expedited permits for companies in "targeted" industries that promise high-paying jobs and capital investment is just one of the ways it rolls out the red carpet.

Also behind the job boom: proximity to the D.C. Beltway, a smart workforce and competitive tax rates.

#9. Suffolk, VA job growth (2000-2011): 43.0%

While actually a city not a county CNN noted It’s smooth sailing for job growth in Suffolk, thanks to the Navy’s recent decision to relocate four commands, . The move will add nearly 1,000 jobs — which is about the total number of new jobs added to the area in all of 2011.  Suffolk is also located close to the Port of Virginia, and like many of the places on the list, quality of life is a big selling point here. Schools, transportation and community are all strong in this city with historic charm.

Those strengths have lured a variety of businesses. The retail sector is growing, as are manufacturing and warehousing. Planters, now owned by Kraft, was started here a century ago and still operates a major peanut processing center.

CNN Money released twelve lists this year, including “Best Places to Live,” “Where the Jobs Are,” “Top Earning Towns,” “Hotspots for the Rich and Single,” “Where Homes Area Affordable,” as well as lists for commute times and climate.

This type of positive recognition is a boost not only for business people and residents living and working in these Virginia localities , but it draws attention from outside the region. Site selection consultants and recruiters can use these rankings as another tool to help draw attention to the state as a vibrant region with tremendous assets for companies and potential employees.

CNN Money creates their rankings using a variety of community metrics and data sources within financial, quality of life and housing criteria. .

Take these list with a grain of sale as according to their source data they will allow 2 places in a state to qualify. ( well I guess Virginia squeaked by with three on this list)

Source: Census data, Onboard Informatics projection. Only counties where each Best Place within it was also experiencing job and population growth, and where unemployment was below the national average, were considered. No more than 2 places within a state could qualify.

See the full list here.

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 areas of Virginia or to sell your existing home.

Continue reading

Tax Credit for home purchases to end soon…

As much as the First-time Homebuyer tax credits aided home sales in 2009, and with the latest installment of tax credits aiding even ‘move up’ borrowers it appears that the party is coming to an end.

Vicki Cox Golder, the 2010 National Association of Realtors ( NAR)  President, circulated this memo to NAR Assoc leaders yesterday indicating that the homebuyer tax credit will probably come to an end when the current deadline of April 30 rolls around.

As you know the deadline for the Homebuyer Tax Credit is fast approaching.  Buyers must have a contract in place by April 30, 2010 with a closing date no later than June 30, 2010 to claim the credit. We expect that REALTORS® will be asking you what NAR is doing to extend the tax credit.  NAR has had extensive discussions with our congressional allies and concluded that an additional extension of the tax credit is unlikely.  While lawmakers recognize that the tax credit helped stabilize the market, it appears that much of the benefit has been realized.   NAR is now focused on working with our REALTOR® Party champions to improve the availability of financing, which continues to be an issue.  Specifically, we are working with Congress to strengthen FHA and to help develop a new business model for the secondary mortgage market giants Fannie Mae and Freddie Mac.

As a reminder, home buyers must sign a contract by midnight April 30th and close by midnight June 30, 2010 to qualify.

 
Government proponents of the $8,000 credit for first-time buyers and the $6,500 credit for move-up buyers made it clear during a recent debate on Capitol Hill that the benefits would not be renewed when they expire.

During the aforementioned debate on Capitol Hill, Sen. Johnny Isakson (R-Ga.), a former real estate broker and a longtime proponent of the tax credit, promised his colleagues, "This is the last extension."

How do you think this will affect the housing market ?

Hampton Roads Real Estate Update March 2010

The sales gains for real estate in Hampton Roads, Virginia during the previous five months slowed to a crawl in February 2010. After ending 2009 with four successive months of double digit year-over-year percentage increases in the number of settled sales, the Hampton Roads region experienced the second consecutive month of single digit gains in February. At the same time, the month also saw increases in active home listings for sale and in the number of under contract home sales when compared to February 2009.
Settled sales for all property types in the region were relatively flat in February 2010, rising 1% when compared to the same period in 2009. The settled sales of residential homes fared slightly better increasing 2.3%, year-over-year. Hampton and Norfolk experienced the largest year-over-year increases in the number of units sold, 31% and 16% respectively. Of the seven major cities in Hampton Roads, Hampton experienced the largest decline in residential median sales price year-over-year for the month, -17.6%. Meanwhile, during the same time period the median sales price of residential homes in Suffolk and Chesapeake increased, 6.25% and 5.8% respectively.
The number of active residential homes for sale increased 1.1% when measured year-over-year and 5.3% on a month-to-month basis in February. It was the first month to have a year-over-year increase in active residential listings since January 2009. Despite a slight increase in the absorption rate (the average number of homes sold per month over the past twelve months) the gain in active listings pushed the months’ supply of inventory up to 9 months for the region overall.
HR Home sales Distressed sales ( Short Sales and Foreclosures) accounted for approximately 25% of all residential resale settled sales for the month of February. The median sales price for these distressed sales decreased year-over-year by 7.2%. Overall, distressed sales have comprised 24% or more of all residential resale settled sales each of the last three months. Previously, distressed sales accounted for more than 20% of residential resale sales once. Currently, distressed residential resale homes make up 17.95% of the homes listed for sale in Hampton Roads Virginia ( from the REIN MLS).

This article was posted  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, www.WilliamsburgsRealEstate.com  and   www.MrWilliamsburg.com, were created as a comprehensive resource about living in Williamsburg and Hampton Roads, with the hopes of selling a house now and again.  You can reach him at 757.254.8136 or John@MrWilliamsburg.com.

Nye Asks Banks, Mortgage Lenders to Aid Chinese Drywall Victims

In order to aid homeowners with chinese drywall issues Congressman Glenn Nye (VA-02) is asking banks and mortgage servicers to provide assistance to homeowners struggling with toxic drywall. On Thursday, Nye announced that he had introduced a Concurrent Resolution (H.Con.Res. 197) in the House of Representatives, calling on mortgage holders to allow homeowners to apply for a temporary forbearance in their mortgage payments.

Due to the toxic fumes emitted by the drywall, many families have been forced to leave their homes and seek shelter with friends, relatives and neighbors. Families that have been forced to move into rental housing now have to pay both the cost of their mortgage and the cost of renting.

Some homeowners have been successful in applying for forbearance, but not all lenders have been willing to cooperate.

Families in Hampton Roads are now paying for both rent and a mortgage on an uninhabitable home, and at a time when the economy is already struggling, this is simply too great a hardship,” said Congressman Glenn Nye. “Recognizing this issue in Congress and formally asking lenders to be a part of the solution will give families more leverage when working with banks or mortgage holders who may be unfamiliar with the seriousness of this problem. While we work to get families back in their homes, I’m going to try every possible avenue to offer them some relief.”

On Thursday afternoon, Nye discussed the resolution with more than twenty homeowners from Hampton Roads who had traveled to Washington to meet with lawmakers. Due to the size of the group, Nye arranged to move the meeting to the House Small Business Committee hearing room in the Rayburn House Office Building. Nye is the Chairman of the House Small Business Subcommittee on Contracting and Technology.

Last Saturday, Nye toured two homes in Virginia Beach that were built with toxic drywall and met with homeowners. In May, Nye toured the Virginia Beach home of Colleen Nguyen and held a meeting with approximately a dozen families to discuss the challenges they faced.

The text of Congressman Nye’s resolution, H.Con.Res. 197, is attached below.

 Download a Copy of Congressman Nye’s Resolution: H.Con.Res.197

Hampton Roads VA Foreclosures

Foreclosure-related notices throughout Hampton Roads are up 2-1/2 times from year-ago levels, according to RealtyTrac, an online foreclosure-monitoring service based in Irvine, Calif. The growth in local foreclosure activity is outpacing the nation, where activity grew 4 1 percent in December compared with a year earlier.

Foreclosures here are not as prevalent as in such hard-hit places as California and Nevada, but the trend has touched nearly every neighborhood in Hampton Roads, from working-class Norfolk enclaves to the Virginia Beach Oceanfront with its million-dollar homes.

Even with interest rates at 40-year lows and relief packages being debated by Congress, economists and real estate experts expect foreclosures to get worse this year as home prices continue to fall, adjustable-rate mortgages reset and more homeowners lose jobs in the flagging economy.

Three years ago, one in every 13,000 homes in the region had a foreclosure-related filing. At the beginning of 2008, that number had risen to one in nearly 1,800 homes.

In December, it was one in 513 homes.

Such filings include bank repossessions, auctions of foreclosed houses and notices of default, which mark the beginning of the foreclosure process.

Part of the spike can be attributed to people losing their jobs,  but resets on adjustable-rate mortgages deserve a healthy share of the blame.

Last year, 7,522 adjustable-rate mortgages in Hampton Roads reset to higher rates, according to mortgage-data tracker First American CoreLogic. This year, the firm predicts 4,728 more will reset.

In Virginia Beach, the worst foreclosure concentrations appear south of Interstate 264, running from Kempsville to Green Run and the area around Lynnhaven Mall. But Great Neck, Sandbridge and even the North End are not immune.

Foreclosures in Chesapeake dot neighborhoods throughout the city but are particularly concentrated in South Norfolk.

Working-class neighborhoods such as South Norfolk seem to have borne the brunt of the foreclosures to date. Few such neighborhoods in Norfolk and Portsmouth have been spared.

Olde Huntersville, Lindenwood and Barraud Park in Norfolk are particularly hard hit, as is Brighton/Prentiss Park in Portsmouth. Many foreclosures in those communities can be attributed to the now-defunct CM Development, which owned more than 250 homes in them before declaring bankruptcy in 2007.

In Suffolk, foreclosures are dense around downtown but also can be seen in the newer North Suffolk neighborhoods of Harbour View and off Shoulders Hill Road.

Home prices in Hampton Roads fell 7.3 percent in 2008.

Falling prices contribute to rising foreclosures. As prices fall, homeowners who purchased at the price peak begin to owe their lenders more than their homes are worth.

White Hall Neighborhood Spotlight-Toano VA

White Hall in Toano, VA near Williamsburg is one of HHHunt’s newest master-planned communities. Here you will find a small, quaint community where you can live a rich, full life. At White Hall, you will choose from a variety of home styles that blend with the area’s distinctive architecture, at prices that are quite reasonable.

image

At White Hall you’ll find a variety of new home styles starting in the $ 130’s.

A master-planned community in a pristine, rural setting, White Hall will offer a variety of single-family homes, town homes and town home-style condominiums perfectly suited for professionals, families and seniors who cherish their time at home — without compromising on seemingly infinite cultural, dining, shopping and entertainment opportunities just minutes away.

White Hall has been designed to maximize natural spaces, with the community being centered around a large, centrally located park. A strong pedestrian focus will provide an outstanding environment for homeowners and encourage activity and community interaction.  The centerpiece of the Whitehall community will be a restored farmhouse.

Facts about White Hall :

Set on 139 acres in the western part of James City County White Hall will have hickoryneckchurchover 58 acres of parks for the community with it’s features include the Historic Farmhouse clubhouse, Two Ponds,Rolling Topography. Adjacent properties are two schools, Stonehouse Elementary and Williamsburg Christian Academy
an historic church ( Hickory Neck Church)  and farms.

The original property known today as Whitehall Plantation stands about 75 yards east of the point where VA Route 30 and US Route 60 intersect, near Toano in James City County. Built for William Geddy in 1805-06. Whitehall represents more than two centuries of nearly continuous occupation by the Geddy family. The Farmhouse on the property will  become the focal point and central feature in this residential community.

The Weatherly House at White Hall which will become the clubhouse at White Hall

The farmhouse and park comprise approximately 40% of the total site which also include two ponds, a creek, multi purpose playing field,nature trails and the community amenity center.
Streets are arranged in a traditional Tidewater Virginia manner with a variety of lot sizes. Most homes have alleys and many front the parks and open space. Along Route 60, a view corridor to the farmhouse and adjacent historic church is enhanced by a significant amount of land that will continue to be farmed.

Weatherly at White Hall, offers town home-style condos by HHHunt Homes, all of which are low-maintenance anf EarthCraft certified.

These open floor plans include 2-3 bedrooms, 2 ½ baths, lofts, and kitchens with breakfast nooks,and are priced from the $130,000’s.
The Townes at White Hall, by HHHunt Homes and Ryan Homes, feature two- and three-story town homes offering low-maintenance living with 3-4 bedrooms, 2 full baths, spacious living room and dining rooms in addition to 1- or 2-car garages, priced from under $200,000.

Schools for the White Hall community are:   Stonehouse Elementary, Toano Middle School and Warhill High.

Warhill HS will offer HS students the ability to take college classes at the adjacent campus of Thomas Nelson Community College. Stonehouse Elementary is one of the top rated schools in James City County.

Single-Family Homes by HHHunt Homes and Ryan Homes feature comfortable layouts with elegant kitchens and baths, plus spacious living areas, priced from under $250,000.

Click here to search all homes, condos, town homes for sale in the White hall community in Toano, near Williamsburg VA- James City County

View Larger MapWhite_Hall_plat_0001

UPDATE JUNE 2010:

See more photos of White Hall here

HH Hunt starts construction of detached and town homes at White Hall

hh hunt whitehall toano va

RECENT PICTURES June 2010

ryan homes white hall toano va

whitehall toano va

ryan homes white hall toano va

History:

The original White Hall Tavern was built in 1805 by William Geddy, who was an upper middle class planter and blacksmith. He built the home for his son (james Geddy) who was a silversmith, and the purpose of the home was to represent “the improving quality of housing for all Virginians during the early Republican period.” Tax records have indicated that because William Geddy was a wealthy planter, he most likely possessed a number of adult slaves as well.

During the mid-1800s in the midst of the United States Civil War, the plantation home served as a site crucial to the Confederate Army. Due to its convenient location within a somewhat close proximity to Richmond, the capital of the Confederacy, it was a site that provided important intelligence gathering and distribution of information pertinent to the South’s advancement in the war.

The 200 acres of surrounding land had been in the family since the 1760’s. The United States Department of the Interior declared it a national historical landmark in 2007.

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 areas of Virginia 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 the Williamsburg/ Hampton Roads area and  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.

Here 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 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

Te

Williamsburg VA Real Estate- Condos/ Town Homes

Mr Williamsburg :My wife and I are considering Williamsburg VA as a place to relocate to. We are looking for one floor living under $250k. What communities and homes would you recommend ?

Answer: First I would want to know a little more about what you are looking for . How many bedrooms ? How many square feet ? Is an attached home ok ?  Where do you want to be ?  Do you want a garage ? Close to the outlets ? Close to Golf ? Close to New Town ? It also depends on when you want to move. As of today here are a few choices to consider. Do you want to be in a 55+ active Adult community ? or a neighborhood with kids and neighbors of all ages ?

These are my favorites and everybody has their own likes and dislikes..

Braemar_2 If you, want to be surrounded by a golf course and are ok with a brand new 1244 sq foot 2 bedroom first floor condo without a garage.  I would suggest Braemar Creek. It’s only 2.5 miles from Monticello Marketplace with Grocery Stores, Restaurants, banks, Target and most other needs. New Town is approximate 3 miles away with it’s 19 places to eat, 12 screen movie theater, Barnes and Noble, many shops , Doctors , dentists and just about any business you would want including a Trader Joe’s.. The HOA at Braemar Creek is $148 a month.  Taxes are approximate $1700 a year as of 2008. Braemar Creek as a very nice clubhouse with kitchen, big screen TV, fireplace, patio overlooking the pool, tennis courts, playground . Not sure if it’s allowed but my happy clients who have bought there ( I can put you in touch with them for first person recommendations ) walk the Williamsburg National Golf course which is adjacent to Braemar Creek. 

Here are a few pictures and floor plans of the homes at Braemar Creek

 

Click here to search all new and resale condo/ town homes for sale at Braemar Creek in Williamsburg VA

#2 recommendations would be Fairway Villas within a 1/4 mile of Braemar Creek surrounded by woods, close to everything above. Resale @ $200k  , pool, tennis.  HOA is $145 monthly and includes all exterior maintenance of home and yard, use of pool, tennis, trash collection.

Click this link to go to Google Street Views and you can pretend you are driving around the community:  You have to try it if you haven’t used it before !

Call me if you can’t it figure it out I can walk you thru how to use it.

Here are all the condo/ town homes available for sale in Fairway Villas

5555555555555555_edited #3 would be Claiborne on Richmond Rd.  By the way all of the communities were built by the same builder Fransicus Homes.( well respected quality builder in the area) So they all have similar floor plans.  The main difference is the location and amenities. Claiborne has a clubhouse only, no pool or tennis. It’s a little closer to CW, very close to the Outback Restaurant on Richmond Rd. There is one resale there for $208k, 1429 sq feet, 2 bedroom, HOA is $165 monthly. This is the only one in The City of Williamsburg which has a lower tax rate than the others in James City County.. .54 per $100 versus .77 per $100

Here are all the available condos/ town homes currently available in the Claiborne Community of Williamsburg VA

Taxes are only $1230 annually as of 2008. 

Here is a Google Street View of Claiborne.

There are a few others that have a first floor configuration. Bristol Commons next to High Street. I only mentioned the top choices that have availability at present.

Click here to search all new and resale homes , town homes, condos for sale in 55+ active adult communities in the Williamsburg VA area

 

Click here to search all new and resale condos and town homes for sale in the Williamsburg/ James City County/ York County areas of Virginia

 

 ch6 Lastly if you want a garage ( most of my clients do )   That’s another list altogether but prices will start at around $260k. If you increase your price range slightly to $275,000 that brings up a lot more possibilities. There area few home currently available in the 55+ active adult community of Colonial Heritage. All homes are almost maintenance free. All have first floor living. The community of Colonial Heritage in Williamsburg VA offers many different social clubs, indoor and outdoor pools, fitness centers a grand 26,000 square foot clubhouse with restaurant, meeting rooms, ballroom, library and much more. an 18 hole golf course is available. You don’t have to be a country club member to play. ( golf fees are optional and not required of home owners in Colonial Heritage) It is quickly becoming a very popular place to live in the Williamsburg VA area.

One other 55+ active adult community in Williamsburg VA that will not appear in the Williamsburg VA MLS/ home search above is the Villas at Five Forks.

You can click here to read information about Villas at Five Forks in Williamsburg VA prices start below $290,000

 

Click here to search all new and resale homes , town homes, condos for sale in 55+ active adult communities in the Williamsburg VA area

Note: Once you open any of the searches you can sort them by:

Price (high to low) Price (low to high) or Bedrooms (high to low) Bedrooms (low to high) or Sq. ft. (high to low) Sq. ft. (low to high) or Date Listed (new to old) Date Listed (old to new)  All by clicking the   icon that looks like this :

 Sort by: Price (high to low) Price (low to high) Bedrooms (high to low) Bedrooms (low to high) Sq. ft. (high to low) Sq. ft. (low to high) Date Listed (new to old) Date Listed (old to new)

One point I would like to make. I would never try to sell someone a more expensive home. A common thread I have noticed with most people I work with is, They always start low. ( which I can understand)  Quite a few will start in one range and then increase to a higher point to find what they like. Since they don’t know the price range of the area they will always start low.

By moving up in price from $250k to $270k and below you open up a lot more possibilities in communities and homes with  garages and other features. Also remember the prices you are seeing on my website are typically negotiable and simply a starting point. ( note: no two sellers are alike)

If you would like/ appreciate Colonial Heritage there is a detached home in there for $269k list price. I would bet it can be bought for less. Interesting the lowest price sale in the last 12 months was $280K

It’s interesting there is always a 50/50 split on where the folks I work with want to live.
One group does not want to live with a bunch of old fogies…

The others do !

Hope this helps

Call me or email me for further information, a personal tour or to receive an updated list of all homes that fit your criteria.

Cheers,

John

mrwmbglogo.jpeg

Williamsburg VA Real Estate Tax Rates Income Tax, Sales tax, Personal Property Tax

Common questions I am asked from people are considering moving to Wiiliamsburg VA or Hampton Roads VA.

 Question:What are your taxes for real estate ? Personal Property Tax ? Income Tax ? Sales Tax ?  Gas Tax ?  Cigarette Tax ? What about for York County ? James City County ? The State of Virginia ?

This information is current as of Jan 1, 2009

City of Williamsburg VA   real estate tax .54 Per $100, 3.50 personal property tax

James City County VA Real Estate Tax .77 per $100 , 4.00 per $100 personal Property Tax
York 0.698  per $100 real estate tax, $4.00 per $100 personal property tax rate

No tax on first $20k in value click below for explanation  

You can read the exemption details for automotive personal property tax rates here

 Virginia’s income tax rates are assessed over five tax brackets:

 — 2 percent on the first $3,000 of taxable income.
— 3 percent on taxable income between $3,001 and $5,000.
— 5 percent on taxable income between $5,001 and $17,000.
— 5.75 percent on taxable income of $17,001 and above.

 Sales Taxes
State Sales Tax: 5.0% (includes statewide local tax of 1%) (prescription and non-prescription drugs exempt); Food purchased for home consumption is taxed at 1.5%. 
Gasoline Tax: 19.6 cents/gallon
Diesel Fuel Tax: 19.6 cents/gallon
(Local option tax adds 2% to fuel tax)
Cigarette Tax: 30 cents/pack of 20

Personal Income Taxes
Tax Rate Range: Low – 2.0%; High – 5.75%
Income Brackets: Lowest – $3,000; Highest – $17,000
Number of Brackets: 4
Personal Exemptions: Single – $930; Married – $1,860; Dependents – $930 (Tax year 2008)
Standard Deduction: Single – $3,000; Married filing jointly – $5,000

Property Taxes
In the State of Virginia property taxes are administered by the state’s cities, counties and towns and are based on 100% of fair market value.  Tangible personal property is also taxed at the local level and is based on a percentage of the original cost.  A county, city, or town may enact a program for senior citizens and disabled persons allowing for exemption, deferral (or a combination of both) for property taxes on realty and manufactured homes owned and occupied as the sole dwelling of a person 65 years of age or older.  Annual family income is generally limited to $50,000, but may be higher in certain Northern Virginia communities.  Net worth limits may apply.  There are no adjustments at the state level.  

Click here for more information on Virginia State Income taxes:

Or find the exact info below that you are looking for

  • Tax Forms and Instructions — Download printable forms and instructions
  • Filing Requirements — Learn about who needs to file and filing thresholds
  • Individual FAQs — Frequently Asked Questions for Individual Income Tax
  • Residency Status — Are you a Resident, a Nonresident, or a Part-Year Resident? Find out the correct method to file.
  • Military Tax Tips — Find information on all special filing provisions for members of the military and their spouses.
  • Completing Your Return — Information on how to complete your return. Information on subtractions, deductions, credits, contributions, etc is available here.

Medical/Dental Deduction: Partial. Individuals may deduct long-term health care insurance premiums, provided the premiums have not been deducted for federal income tax purposes. The premiums must be paid specifically for a long-term health care policy.  The amount to be subtracted is the cost of long-term health care insurance premiums that has not been deducted on your federal return.

Federal Income Tax Deduction: None

Retirement Income Taxes: Taxpayers age 65 and older are eligible for a deduction of $12,000, subject to the following income limitations.  The deduction of $12,000 will be reduced by one dollar for each dollar that their Adjusted Federal Adjusted Gross Income exceeds the following thresholds: single – $50,000, married – $75,000 (total for both), married filing separately – $75,000 (total for both).  “Adjusted federal adjusted gross income” means the federal adjusted gross income reduced by the taxable Social Security and Tier 1 Railroad Retirement benefits reported as a Virginia subtraction.  Virginia law exempts Social Security and Tier 1 Railroad Retirement benefits fro taxation.  If you are required to include any of your benefits in federal adjusted gross income, subtract that amount on your Virginia return.  Pension income received while you are a Virginia resident is taxable by Virginia, even though it may have been received from another state.  However, federal legislation enacted January 1, 1996 prohibits any state from taxing pension payments made to a resident of another state.  Even though your pension from another state is taxable in Virginia, it should not be taxed by the other state.  Virginia residents are subject to tax on their entire incomes, including federal annuities and military pensions.  To the extent that these payments are reported in federal adjusted gross income, they are also subject to Virginia income tax.

Retired Military Pay: Follows federal tax rules.  Military retirement income received by those awarded the Medal of Honor can be subtracted from federal gross income for tax purposes.
Military Disability Retired Pay: Disability Portion – Length of Service Pay; Member on September 24, 1975 – No tax; Not Member on September 24, 1975 – Taxed, unless combat incurred.  Retired Pay – Based solely on disability: Member on September 24, 1975 – No tax; Not Member on September 24, 1975 – Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war.

VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes
Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax.  Check with state department of revenue office.

Mr Williamsburg.com " Williamsburg VA. Real EstateJohn Womeldorf is Mr. Williamsburg, sharing his thoughts, real estate expertise, and “all things Williamsburg” in an effort to spread the word that Williamsburg and Hampton Roads, Virginia is the greatest place on earth to live!

 Mr Williamsburg is a local Realtor assisting home buyers and sellers in the Hampton Roads and Williamsburg areas of Virginia.

Contact me at John@MrWilliamsburg.com

Research the area at www.WilliamsburgsRealEstate.com

Or ask any questions about homes, neighborhoods, schools, amenities, recreation ,taxes,employment, shopping or anything else about the area.

Search Homes for Sale

Click here to Search all homes, town homes, condos and building lots for sale in Williamsburg, James City, New Kent, York, Gloucester, Charles City Virginia

Click here to search all building lots in James City County, York County, City of Williamsburg and New Kent County

Click here to search all homes, town homes, condos and building lots for sale in Va Beach, Norfolk, Chesapeake, Isle of Wight, Portsmouth,Franklin, Sussex, Southhampton, Emporia, Greenville, Mathews, Suffolk, Surry, Smithfield, Newport News, Hampton , Poquoson, Gloucester or York County Virginia

Below is a breakdown of state and county taxes in the Williamsburg VA area. Please

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.

Williamsburg VA Real Estate Colonial Williamsburg Foundation to donate Conservation Easment to Williamsburg Land Conservancy

map of conservation area Williamsburg VA

map of conservation area Williamsburg VA

 

 John Womeldorf is Mr. Williamsburg, sharing his thoughts, real estate expertise, and “all things Williamsburg” in an effort to spread the word that Williamsburg, Virginia is the greatest place on earth to live!

WILLIAMSBURG, Va. ― The Colonial Williamsburg Foundation will donate a conservation easement to the Williamsburg Land Conservancy on 82 acres of land east of Route 132.  The easement will provide permanent viewshed protection for a three-quarter mile segment of highway between Queens Creek and Bypass Road.  Most of the property, 68 acres, is located in York County with a smaller portion, 14 acres, lying in the City of Williamsburg.

“In conjunction with the conservation easement on 230 acres across Route 132 previously granted to the Williamsburg Land Conservancy, this conservation easement will protect scenic views along both sides of the entry to Colonial Williamsburg’s Historic Area from Interstate 64,” said Foundation President Colin G. Campbell.

Like the earlier easement, also donated to the Williamsburg Land Conservancy, this conservation easement will prohibit development of the property and preserve its predominantly wooded character.

“The Conservancy is excited to work once again with Colonial Williamsburg to protect a key scenic property,” said Tim Cleary, chairman of the Williamsburg Land Conservancy’s board of directors. “We commend the Foundation and its board for their commitment to conservation.” 

Caren Schumacher, executive Director of the Williamsburg Land Conservancy, noted that Route 132 is designated as a scenic entry corridor on both the City of Williamsburg and York County comprehensive plans.

The property, acquired by The Colonial Williamsburg Foundation in 1956, contains a mature deciduous forest and 25 acres of wetlands bordering Queens Creek and its tributaries.  An archaeological survey indicated evidence of historic and prehistoric archaeological resources on the property.

Founded in 1990, the Williamsburg Land Conservancy was the first private non-profit land trust in Virginia incorporated specifically to use the provisions of the Virginia Conservation Easement Act.  The conservancy is dedicated to protecting and preserving significant natural, scenic, agricultural and historic land in the James and York Rivers watersheds.  The conservancy strives to maintain the character and ambiance of the area through a combination of land preservation tools, education and advocacy programs, and shaping public policy.

This donation represents the second large easement donated to the Williamsburg Land Conservancy within the last 60 days.  In November, the group accepted a 190-acre conservation easement in upper James City County.  With the addition of the property east of Route 132, the Conservancy will protect a total of 3,300 acres in the Historic Triangle area.

Established in 1926, the Colonial Williamsburg Foundation is the not-for-profit educational institution that preserves and operates the restored 18th-century Revolutionary capital of Virginia.  Williamsburg is located 150 miles south of Washington, D.C., off Interstate 64. For more information or reservations, call toll-free 1-800-HISTORY or visit Colonial Williamsburg on the Internet at www.history.org. 

You can learn more about the Williamburg Land Conservancy Here

 Mr Williamsburg.com " Williamsburg VA. Real Estate

 This informational update provided by Mr Williamsburg.com/ John Womeldorf . A local Realtor assisting home buyers and sellers in the Hampton Roads and Williamsburg areas of Virginia.

Contact me at John@MrWilliamsburg.com

Research the area at www.WilliamsburgsRealEstate.com

Or ask any questions about homes, neighborhoods, schools, amenities, recreation , shopping or anything else about the area.

Search Homes for Sale

Click here to search all homes, town homes, condos and building lots for sale in Va Beach, Norfolk, Chesapeake, Isle of Wight, Portsmouth,Franklin, Sussex, Southhampton, Emporia, Greenville, Mathews, Suffolk, Surry, Smithfield, Newport News, Hampton , Poquoson, Gloucester or York County Virginia 

Williamsburg VA Real Estate ” Village at Quarterpath looking to re-tool !

 John Womeldorf is Mr. Williamsburg, sharing his thoughts, real estate expertise, and “all things Williamsburg” in an effort to spread the word that Williamsburg and Hampton Roads, Virginia is the greatest place on earth to live!

Update The Village at Quarterpath, Williamsburg, Virginia

  Town Homes at Village at Quarterpath, Williamsburg VAResearch the area at www.WilliamsburgsRealEstate.com

Or ask any questions about homes, neighborhoods, schools, amenities, recreation , shopping or anything else about the area.

The developers of The Village at Quarterpath ( Wermers Development) are seeking to increase the density of the project from what was initially approved.

 In it’s initial approval by the City of Williamsburg  The Village at Quarterpath was to have a total of 77 dwellings. The number of homes in the Village at Quarterpath would expand by 55% beyond what’s  been long approved. To sweeten the deal, proffers will provide some affordable housing. This would have been comprised of 41 detached homes and 36 town homes.  Since the downturn in the real estate market they are now requesting approval to build a total of 122 dwellings this being comprised of 6 detached homes, 36 duplexes and 77 town homes..

Town Homes at Village at Quarterpath, Williamsburg VAThe developers are also seeking a zoning change from the RM-1 district, which allows eight units per acre, to RM-2, which allows 14.

 “Due to uncontrollable economic and real estate market conditions, we now find it necessary to reposition this community,” wrote L&B Quarterpath LLC, the development company, in its application for the change.

Proffers proposed by Wermers Development would cap the rentals at 20% and stipulate that 10% of the units will be sold for less than $220,000. The city earlier exempted Quarterpath from affordables.

Prices being porposed by the developer are to average sale prices of a townhouse at $250,000 and their size from 1,350 to 1,710 square feet. The new plan calls for smaller front and side yards than are typically required in the RM-2 zoning district. 

Click here to search all new and resale detached homes, townhomes for sale in The Village at Quarterpath in the City of Williamsburg, Virginia 

 Mr Williamsburg.com " Williamsburg VA. Real Estate This informational update provided by Mr Williamsburg.com/ John Womeldorf . A local Realtor assisting home buyers and sellers in the Hampton Roads and Williamsburg areas of Virginia.

Contact me at John@MrWilliamsburg.com

Research the area at www.WilliamsburgsRealEstate.com

Or ask any questions about homes, neighborhoods, schools, amenities, recreation , shopping or anything else about the area.

Search Homes for Sale

Click here to Search all homes, town homes, condos and building lots for sale in Williamsburg, James City, New Kent, York, Gloucester, Charles City Virginia

Click here to search all homes, town homes, condos and building lots for sale in Va Beach, Norfolk, Chesapeake, Isle of Wight, Portsmouth,Franklin, Sussex, Southhampton, Emporia, Greenville, Mathews, Suffolk, Surry, Smithfield, Newport News, Hampton , Poquoson, Gloucester or York County VA

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)

Flood Zones in Hampton Roads Virginia

Question: I am thinking of purchasing a home in Hampton Roads, Virginia. I know that that are certain areas in Hampton, James City County, Norfolk, Chesapeake, Poquoson, York County and other nearby areas  are prone to flooding. How can I find out if a home I am interested in is in a flood zone ? How can I find out how much flood insurance will cost ? What are flood zones?


Flood zones are land areas identified by the Federal Emergency Management Agency (FEMA). Each flood zone describes that land area in terms of its risk of flooding. Everyone lives in a flood zone—it’s just a question of whether you live in a low, moderate, or high risk area.

How do I find out whether or not a property is at risk of flooding, and if it is, at what level?
Go to the website http://www.floodsmart.gov and fill out the Flood Risk Profile on the left hand site of the site.

 What is a Special Flood Hazard Area (SFHA)?
Land areas that are at high risk for flooding are called Special Flood Hazard Areas (SFHAs), or floodplains. These areas are indicated on Flood Insurance Rate Maps (FIRMs).

A home located within an SFHA has a 26 percent chance of suffering flood damage during the term of a 30-year mortgage.

What is a Non-Special Flood Hazard Area (NSFHA)?
A Non-Special Flood Hazard Area (NSFHA) is an area that is in a low-to-moderate risk flood zone (Zones B, C, X Pre- and Post-FIRM). An NSFHA is not in any immediate danger from flooding caused by overflowing rivers or hard rains.

However, it’s important to note that structures within a NSFHA are still at risk. In fact, one out of four floods occurs in an NSFHA! Get the facts before you decide that your property is not at risk.

Is there a special risk-rating procedure for coastal high hazard areas (V zones)?
Yes. When calculating the risk of a V zone property, the formula takes into account the ability of the building to withstand the impact of wave action.

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

 

Eagle Harbor Neighborhood Spotlight Isle of Wight

Eagle Harbor, Isle of Wight Virginia has now been selected “Community Of The Year” three times by the Peninsula Housing & Builders Association ( PHBA)  Its charm encompasses not only the quality and diversity of homes featured in this unique community, but also in the lifestyle that is experienced by those choosing to live here.

Newport News and downtown Norfolk just a short drive away. In the center of Eagle Harbor in Isle of Wight is Celebration Park, where families and friends come together. Meet your neighbors here, or go fly a kite on the grassy banks of Eagle Lake. Play a round of Garden Golf™, or make a splash at the pool.

The quality homes at Eagle Harbor are a cut above the rest. Along quaint streets lined with sidewalks and streetlamps, traditional architectural details make way for innovative floor plans you simply will not find in other neighborhoods.

Single family homes range in price from the low $300s to over $674,500. Condominiums start in the low $200s.  Home sizes range from 1200 square foot condos to 4200 square foot detached homes.

Sold home Statistics for Eagle Harbor in Isle of Wight: The price range last 12 months for detached homes in Eagle Harbor ranges from $267,000 to $570,000. The average days on market was 220 days. The average price for square foot was $139.37. The average square footage was 2866. The ratio from list price to sale price was 96%

The price range in the  last 12 months for atached homes/ condos sold in Eagle Harbor ranged from $208,990 to $320,900. The average days on market was 153 days. The average price for square foot was $148.99. The average square footage was 1722. The ratio from list price to sale price was 100%

Search Homes For Sale at Eagle Harbor

Hampton Roads Real Estate Median Prices

Question : I think Virginia Beach has the best median household income, at 65K. 3 x 65K (conventional figure) puts the median price around $190K. I think we are at $300K median asking price for the region.

Answer: According to a report I just ran ( sold home prices last 12 months 2007-2008 for the region that includes  Norfolk, Portsmouth, Chesapeake, Virignia Beach, Suffolk, Hampton, Isle Of Wight, Newport News, York , Williamsburg, James City County) the median price was $230,000.

All figures are derived from REIN ( Real Esate Information Network)

 

If I run the same report for Virginia Beach the Median Price for sold homes was $250,000. As of point of comparison the median  price for homes sold in 2000-2001 for the Hampton Roads region was $117,995

FAQ Legal Questions Hampton Roads Real Estate

FAQ: Brian, the seller died before we could close on our home in Hampton Roads, Virginia, can the buyer make the seller’s heirs honor the contract?

ANSWER:  Yes.

The Virginia Supreme Court answered this question in the affirmative in the case of Moore’s Adm’rs v. Fitz Randolph, 33 Va. 175 (1835).  This result is true not only in Virginia, but to my knowledge in all fifty states.  In many jurisdictions the answer will turn on whether the contract contains language stating that it is “binding on the heirs” of the parties.  Curiously, The REIN Standard Purchase Agreement no longer contains that language (the VAR contract still does), but the law (at least it seems in Virginia) presumes that it is meant to be binding on the seller’s estate anyway.
 
Sometimes the seller dies before the deed is executed and so the question becomes: who will sign the deed?  Again, Virginia law provides a pretty clear answer.  Va. Code § 64.1-148 provides that “When any deceased person shall have executed and delivered a bona fide written contract of sale, purchase option, or other agreement binding such deceased person, his heirs, personal representatives, or assigns, to convey any real property or interest therein, his personal representatives may, upon full compliance by the purchaser with the terms and conditions of such contract, option or agreement execute a deed and do all things necessary to effect the transfer of title to such real property or interest therein to the purchaser and such transfer shall be as effective as if it had been made by the deceased obligor.”
 
It may well be that closing will be delayed somewhat when a seller dies (for example, if the seller had not signed the deed you might need someone to qualify on the estate in order to sign the deed), but as you can see it is clear that the buyer can insist and require the estate to conclude the transaction.

Is the reverse true?  Can a seller require a deceased buyer’s estate to perform the contract?  While in theory it is true (the case above refused to answer that converse question), bear in mind the practical nature of our modern contracts – financing based on the buyer’s income not to mention actually being alive, owner occupancy, etc. would almost certainly dictate a different result.  Perhaps if the contract were a straightforward, non-personalized, cash deal one could bind a buyer’s estate.  Otherwise I would say no.
 
Brian Lytle Esq.

A brief  review by Real Estate Attorney Brian Lytle Esq. www.LytleLaw.com 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.

Brian 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, we primarily serve the Virginia Peninsula (Hampton, Newport News, York County, James City County and Williamsburg), but we also regularly serve surrounding areas, to include Suffolk, Isle of Wight, Gloucester and the greater Tidewater, Virginia area.

Copyright © 2008 Brian D. Lytle. Reprinted here with permission.

For further information about real estate in Williamsburg, James City, New Kent or York County Virginia 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

Williamsburg Real Estate Resource. Search for Homes & Land for sale in Williamsburg Virginia & surrounding areas click here :CLICK HERE WILLIAMSBURG VA MLS HOME SEARCH

CLICK HERE FOR Real Estate Home Search Tidewater Hampton Roads Va

 

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

Page copy protected against web site content infringement by Copyscape

Williamsburg Va real estate search

Hampton Roads/ Williamsburg Va Real Estate. Reasons homes are not selling

A few reasons homes are not selling in Williamsburg/ Hampton Roads Va1. Unrealistic List Prices.  A large percentage of the homes on the market are overpriced for what people are willing to pay for them,” 

A lot of sellers are pricing way to high from the start. They are then adjusting their price and coming down. Sadly they keep chasing the market downward behind the curve.

2. The First Offer is Often the Best Offer. There’s a reason this is a real estate cliche. If you get an offer in today’s market,  try to make the best of it , negotiate and live with it if you can, because there may not be another offer for quite some time. 

3. Don’t let your house get stale  The longer a house is on the market, the less attractive it appears. Consumers are watching the market very intently these days. A common thought is :If no one else has bought this house in 12 months or longer, why would I want it ? What’s wrong with it ?

Homeowners sometimes try to get around this problem by allowing a listing to expire and then re-list the house to start the clock ticking again. The  (MLS) multiple listing service ( WAAR/ Williamsburg Area Association of Realtors, REIN/ Real Estate Information Network, CVRMLS/ Central Virginia Regional MLS, CBRAR/ Chesapeake Bay and Rivers Association of Realtors ) will classify it as a new listing-but real estate agents who know the area will usually recognize that it’s the same old house.

You won’t  fool many people . Better to price it right from the start to get it sold quickly and prevent the staleness.

4. Listen to the feedback. 

If a common response from showings is ” It needs new carpet ” Then install new carpet or paint the interior, remove the wallpaper or any other common feedback responses

5. Go For the HGTV Look.

Quite a few of today’s home buyers in Williamsburg and Hampton Roads VA are seeking perfection in the home they will buy. That’s hard to do in some older homes. An older home is not going to be modern like those home design shows.

Numerous buyers ( maybe all) are watching the endless stream of design shows on HGTV these days. It is shaping their expectations.

While that doesn’t  mean you have to put in granite counter tops and new kitchen cabinets, although not a bad idea. You do need to clear the clutter and make the place spiffy.

Quite a few homes that I have shown to buyers in the Williamsburg and Tidewater Va area look like they just appeared on an HGTV segment. Even homes selling in the $190k-$250k price ranges. Use contemporary colors, buy a few accessories at Target. Hide your personal things.“

6.. Don’t Expect a purchaser to Renovate. Yes, there are people who visit Lowe’s/ Home Depot daily and love to do projects around the house, painting , building decks, hanging light fixtures, installing new flooring. But most of today’s buyers want to move in and live. With so many homes to choose from they will normally pick the one that needs the least amount of work/fix up, etc. Even in a good market, fixer-uppers attract only limited offers because people just don’t have the time. money or energy. The people that do have the time will expect a really low price.

7. Understand Buyer’s Mentality.  Quite a few sellers currently think buyers are being greedy. In fact that’s not normally the case. Quite a few of today’s Hampton Roads home buyers are frightened. A major concern is fear of home values in the Tidewater VA area will decline after they purchase. A number of buyers won’t  have the courage to buy a home unless it’s better than the other homes currently on the market and it’s irresistible to them.

8. Play to Strength’s of your Home. Is it on a busy street ? While some think that’s a turnoff others will not mind. If it is make sure your overall curb appeal is enticing. Try to bring in those people driving by with beautiful landscaping. It’s amazing what a few hundred dollar investment in plants and much can do for the curb appeal of a home.

9. Lack of Pictures/ Poor online marketing.   Look up your home’s address in Google. www.Google.com

 Do you see multiple websites that your home is being marketed on ? Is it on www.Craigslist.com ?, Point2 Are there enough pictures to get a good overall sense of the home ? What about the community ? Any pictures of the neighborhood amenities ? The pool, trails, playgrounds, golf courses ? Is it featured on www.Trulia.com , www.Zillow.com , Google Beta or many others ? Does the description of your home make you want to buy it ? Is your home a ” Featured Listing on Realtor.com www.Realtor.com  Are there 25 pictures of your home on Realtor.com ? IS their a descriptive story about your home on Realtor.com ?

10. Lack of an agent’s or brokers online presence. Google your agent. www.Google.com  Is he or she featured on multiple websites, blogs, etc ? Web presence can be compared to the Yellow Pages. Which business will be more successful. One with no yellow page listing or one with 1000’s of yellow page ads’ that cover the entire world ? Imagine if you could advertise in every cities’ yellow pages ? How many cities are there in the U.S ? That’s the power of the web/ Internet…

 

 What’s My Home Worth in Williamsburg/ Hampton Roads VA ?  Click here to find out…

See what clients are saying about Mr Williamsburg

For further information about  selling your home, relocation, moving retiring , golf course homes,  real estate , homes, communities, developments, neighborhoods or building lots in Va Beach, Norfolk, Chesapeake, Isle of Wight, Suffolk, Smithfield, Newport News, Hampton , Poquoson, Williamsburg, James City, New Kent, Gloucester or York County Virginia 

contact:

John Womeldorf/ REALTOR

Liz Moore & Associates 757 254 8136

John@MrWilliamsburg.com  email

www.MrWilliamsburg.com/  Williamsburg VA Real Estate website

www.MrBurg.com Williamsburg Va Real Estate website  

www.MrHamptonroads.com/  Hampton Roads Va Real Estate website

www.MrTidewater.com/  Tidewater VA Real Estate website

www.MrVaBeach.com/ Va Beach Va Real Estate website

  

Williamsburg Real Estate Resource. Search for Homes & Land for sale in Williamsburg Virginia & surrounding areas  click here :CLICK HERE WILLIAMSBURG VA MLS HOME SEARCH

  CLICK HERE FOR Real Estate Home Search  Tidewater Hampton Roads Va 

  

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

 

 Page copy protected against web site content infringement by Copyscape