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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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Colonial Williamsburg, VA – Video of Colonial Williamsburg & Golden Horseshoe Golf

Vodpod videos no longer available.  

Here is is short five minute video From Golfweek and GolfTV that will give you a feel for both Colonial Williamsburg and the multiple award winning Golden Horseshoe Golf Course.

 

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.

Virginia Beach Real Estate- Median Income Facts

va beachHere is a surprising fact. Forbes Magazine looked at the 2004 US Census and came up with a list of cities with the highest median income.  You would think that LA, New York City would definitely be on the list of the top 10. Not so.

Surprisingly our own VA Beach was ranked 4th on the list.

Median income is the level at which half of the households make more and half less.

 San Francisco and Washington, D.C., are in the top 10 as well although New York, Boston and Miami are nowhere to be seen in the top ten. California cities make up 40% of the rankings, and the rest is made up by some surprising locales, including Anchorage, Raleigh, N.C., and Virginia Beach, Va. While pleasant places, they aren’t generally thought of as homes for the rich and famous.

What gives? A combination of local economic strength, geographical quirks and the limitations of the analysis, which measures the middle of the income distribution, rather than the extremes.

Newer cities also have higher median incomes than more established places, like Boston or Chicago, because they are growing and have people moving in rather than out. Look just outside the city of Philadelphia (which also did not make the top ten), for example, and you will see an abundance of wealthy suburbs.

Virginia Beach is also helped by its strong military economic base. Military areas tend to have less-extreme income distributions (a reason San Diego makes the list as well), and retirees in the area tend to have comfortable military pensions.

 

Rank

City

State

Median Household Income

Median Home Price

1

San Jose

California

$71,765

$625,000

2

Anchorage

Alaska

$61,595

$294,374

3

San Francisco

California

$60,031

$726,900

4

Virginia Beach

Virginia

$55,781

$192,000

5

San Diego

California

$51,382

$605,600

6

Anaheim

California

$49,622

$696,100

7

Raleigh

North Carolina

$47,878

$185,200

8

Seattle

Washington

$46,650

$310,300

9

Washington

District of Columbia

$46,574

$429,900

10

Honolulu

Hawaii

$46,500

 

Click here to search all homes, town homes, condos, building lots, 55+ communities, golf course communities both new and resale for sale in Va Beach , Virginia

Hampton Roads School Links Public and Private

If you are thinking of moving or relocating to Hampton Roads Virginia and want to contact any of the private or public schools in the regions the links are provided below.

 

 

I would also recommend visiting www.SchoolMatters.com to compare schools around the area.

Public School Links Hampton Roads Virginia

Private Schools in Hampton Roads Virginia

Colleges/Universities in Hampton Roads Virginia

 Mr Williamsburg.com " Williamsburg VA. Real Estate

 This information provided my Mr Williamsburg.com . A Realtor assisting home buyers and sellers in the Hampton Roads and Williamsburg areas of Virginia.

You can search all homes for sale in the area at www.MrWilliamsburg.com

Research the area at www.WilliamsburgsRealEstate.com

Or ask any questions about homes, neighborhoods, etc  John@MrWilliamsburg.com

 

 

Close out deals on New Homes in Hampton Roads Virginia

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

 

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

Contact John Womeldorf/ Realtor/ New Homes Specialist

Liz Moore and Associates

757 254 8136 John@MrWilliamsburg.com

 

www.MrWilliamsburg.com

www.MrHamptonRoads.com

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.

Buying A home with ” No Money Down in Williamsburg/ Hamtpon Roads VA

There is no question that the country is in the midst of a cycle where credit is tight, and mortgage lenders are taking a conservative approach to residential home financing.  But, that doesn’t mean that there aren’t plenty of great mortgage programs available, that will suit just about any scenario that a prospective buyer has.

 I am surprised at how few people are aware of what is referred to in the industry as “down payment assistance” programs.  In essence, these are programs sponsored by non-profit organizations that offer grants for down payments to qualified buyers, which are funded by the seller.  In many cases these are compatible with traditional financing options such as FHA, and can mean that a buyer can secure their new home with no money out of pocket.

For a nominal processing fee (which can be paid by the buyer, seller or lender), these programs contribute up to 6% of the sales price toward the borrower’s down payment and/or closing costs.  Best of all, this gift does not have to be repaid!

This is also a great way for sellers to differentiate their listings to prospective buyers…offering to participate in a down payment assistance program and enable prospective buyers to buy with no money down may be a more effective marketing strategy than an equivalent price reduction in this inventory laden market.

 

 

Want to know more?  I’d be happy to help you and give you all of the details and help you evaluate whether a down payment assistance program may be a good solution for you!  E-mail me at John@MrWilliamsburg.com  

 

 

 

Down payment assistance and community redevelopment programs offer affordable housing opportunities to first-time home buyers, low-income and moderate-income individuals and families who wish to achieve home ownership. Here are just a few of the programs available in the Williamsburg, York, New Kent, Gloucester or James City Counties, Newport News, Hampton, Poquoson, Isle of Wight, Suffolk, Chesapeake, Norfolk, Va Beach, Smithfield or any other Peninsula, Southside, Hampton Roads or Tidewater Areas.

AmeriDream Program is a non-profit organization dedicated to helping people find affordable housing. Part of the AmeriDream mission is to help low and moderate income families buy homes by offering down payment assistance. Buyers who are qualified for an FHA loan but don’t have the money for down payment and/or closing costs are eligible to apply for AmeriDream down payment assistance:

  • A down payment gift of up to 10% (typically 3%-6%) of the purchase price.
  • A true gift-the down payment assistance is not repaid by the home buyer
  • Home buyer must have an approved FHA home loan or pre-approved FHA loan.

Nehemiah Program  has helped over a quarter of a million Americans purchase homes. Unlike some down payment assistance programs, Nehemiah offers down payment help to anyone who qualifies for an approved FHA loan. There are no limits on income or assets, but buyers must have an FHA loan or be pre-approved for an FHA mortgage. The Nehemiah program offers:

  • Up to 6% of the final contract sales price for down payment and/or closing costs.
  • Available for first-time and repeat home buyers.
  • Approved for new construction and resale homes.
  • No geographical restrictions.

As with most down payment assistance programs, these funds are not available for “second mortgage” or home equity loans; Nehemiah is intended to help people buy a new home. The process for applying for Nehemiah is similar to most other down payment assistance programs:

 

The Genesis Program also known as Grant America, is a non-profit down payment assistance program. It is operated by the Penobscot Indian Tribal Nation and technically qualifies as a government entity. Like other Native American tribal nations, the Penobscot tribal nation is HUD-approved to offer assistance, even to those living outside tribal jurisdiction. Grant America offers down payment assistance to low and middle income home buyers:

  • Those with an FHA loan or are pre-approved for FHA mortgages qualify for the Grant America program.
  • Grant America offers up to $34,000 in down payment assistance.
  • This program is open to those with approved FHA loans buying new or resale homes.
  • Program participation is not required to be included in the contract, but the seller must participate in the Grant America program.

Applying for any of these programs to buy a home with No Money Down in Williamsburg, York, New Kent, Gloucester or James City Counties, Newport News, Hampton, Poquoson, Isle of Wight, Suffolk, Chesapeake, Norfolk, Va Beach, Smithfield or any other Peninsula, Southside, Hampton Roads or Tidewater Areas is simple. All you need to do is Contact John Womeldorf/ Realtor and I will assist with all of the steps that include :

  • Getting pre-approved for an FHA loan or completing your FHA mortgage paperwork and getting approved for a specific FHA loan amount.
  • Finding a home you want to buy.
  • Contact one of our preffered mortgage lenders.
  • Our loan officer will complete a Grant application on your behalf.
  • The funds will be wired to the bank the day of closing the deal (or the day before if you close in the morning).