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

 

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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.

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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

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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

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