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Did You Know - First Time Home Buyers

  
  
  

According to the 2013 Profile of Home Buyers and Sellers published by the National Association of REALTORS, 38% of home buyers reported they were first time home buyers. Historically, the share of first time home buyers is 40%.  The South and West had the smallest share of first time home buyers at 35% each, and the Northeast had the largest share at 44%.

In addition, the share of married first time buyers rose in 2013 and remains the largest share of first time buyers at 56%. 

first time home buyers

(image source: 2013 Profile of Home Buyers and Sellers, National Association of REALTORS)

 

Are you looking to start the home buying process?  Email us at concierge@lizmoore.com, we'd love to help! Or, click below to download our free Home Buyer's Handbook.

Download Our FREE Home Buyer's Handbook

 

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Family Fest in New Town, Williamsburg!

  
  
  

homes for sale in New Town
The New Town Family Fest will be held on May 3rd from 12-4pm in Sullivan Square at Legacy Hall in New Town.

Visit with Smokey the Bear and McGruff the Crime Dog, get your face painted, ride a pony, check out the petting zoo, fire truck, lego building, and more!

Food vendors will be part of Family Fest, as well as live music by Johnny St. Clair. 

What a great way to spend a Spring afternoon with your family!

Interested in finding more things to do in and around the Historic Triangle? Subscribe here to our blog as we post ideas frequently.  You also can purchase a copy of Liz’s recently published book, 101 Reasons to Love Living in the Historic Triangle, in either paperback or e-book version by clicking the button below.

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Inspections Needed When Doing a Major Home Remodel

  
  
  

Q: What inspections or building permits do I need for new construction or major remodeling?

There are a wide variety of different inspections, many of which may not be required for your particular project. Many building departments will tell you specifically which inspections you'll need to request, but if they don't, be sure that you ask when you pick up the permits.new homes for sale

Here are some of the more common inspections, as well as when they occur and what the inspector will be looking for.

Footing Inspection: This is typically the first of the inspections, and occurs after the grading has been done and the forms have been laid for the foundation, or at least for the footings. The inspector is looking to see that the footings are the proper size and depth, that any reinforcing steel is in place, and that the location of the foundation does not violate any setbacks.

Underfloor Inspection: This occurs after the foundation has been poured and the floor framing is in place, but before the subfloor is installed. This gives the inspector the opportunity to look at the floor framing, as well as any plumbing or mechanical systems that might be in place under the floor. The inspector will be looking at the size and spacing of the framing; that proper materials have been used wherever the wood meets either the concrete or the soil; and that plumbing and mechanical systems are properly sized, installed and supported.

Rough Inspections: These inspections occur after the rough framing has been completed and all the rough wiring, plumbing and mechanical components have been installed, but before any finished wall and ceiling covering is installed. These are typically the most extensive and complicated of all the inspections, since there is a lot to review and it will all be covered and inaccessible in the future.

The rough framing inspection includes an inspection of all the structural components. The inspectors will be checking that the proper size and type of lumber was used, and that the spacing is correct; that hangers and steel connections are the correct type and are installed with the proper type and quantity of fasteners; that flashings and other weatherproofing measures are in place; and that the roof, windows, exterior doors and other components are in place to make the building weather-tight.

Rough electrical inspections include checking the size and installation of all the wires; the service panel; grounding; installation and location of boxes; installation of can lights; and whether the wires are properly routed and protected. Rough plumbing inspections look at the size and type of pipe that was used; proper slope for drain pipes; vent pipe sizes and locations; size and location of water lines; and that everything is secure and well supported. Rough mechanical inspections include the size, location, and installation of all ducts and vents; installation of furnaces and ventilation fans; and the proper ducting of fans to the outside of the building.

Insulation Inspection: This inspection occurs after the wall insulation has been installed and checks to see that it is complete and of the proper R-value.

Drywall Inspection: Some cities include a drywall inspection, which occurs after the drywall has been installed but before it is taped. The inspectors are checking to see that the proper number and type of fasteners have been used to secure the drywall to walls and ceilings.

Final Inspections: When everything is done, the inspectors will make their final inspections of all systems to ensure that everything has been completed correctly. They will test different systems, check for compliance with manufacturer's specifications, and ensure that everything is operating properly and the house is safe for occupancy.

Remember that this is just a brief overview of the inspection process, and that the actual number, timing and details of the inspections can vary widely. Be sure to talk with your building department to get the specific details of the inspections for your particular project, and to get any of your questions answered before you begin.

Are you thinking about new construction?  Tell us a little bit about your dream home, and we’ll arrange for a complimentary consultation with a new homes expert who can point you in the right direction!

Meet with a New Homes Expert

 

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Neighborhood Spotlight - Coventry, Yorktown

  
  
  

Coventry is a sought-after community in Yorktown, Virginia comprised of nine distinct neighborhoods with approximately 160 mixed-style homes situated on around 320 acres amongst paths, woods, open spaces, and lakes.homes for sale in Coventry

This prime location between Big Bethel Road, Hampton Highway, and Route 17 is convenient to shopping, schools, restaurants, Langley, Fort Eustis, and NASA. Residents may enjoy amenities which include two large recreational facilities, a sports field, clubhouse, pool, tennis courts, six lakes, and jogging and biking trails. The homeowner’s association hosts a number of events throughout the year providing neighbors an opportunity to get together.

homes for sale in CoventryHomes in Coventry range in price from $150,000 - $475,000 and in size from 1,349 - 3,174 square feet. 

Want to Get the Scoop on Coventry homes for sale?  Simply click below to fill out the form, designating Coventry as your selected neighborhood, and you’ll receive automatic e-mail alerts when any new listings come on the market in Coventry, or when any closings take place, so that you can monitor home values in Coventry.

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Spring is Here - Enjoy the Noland Trail in Newport News!

  
  
  

The 5 mile Noland Trail in Newport News is a favorite for local runners and walkers. It winds through the woodlands of the Mariner’s Museum Park, and over 14 bridges and along the shoreline of 167 acre Lake Maury. Lake Maury was named for the famed 19th centuryrunning in Newport News oceanographer and native Virginian; so you shall be viewing history as well on this scenic route. Also, don’t miss the famous Lion’s Bridge, a dam decorated by statuary designed by Anna Hyatt Huntington (sculptor and wife of the Mariner’s Museum founder) that provides a breathtaking view of the James River. It’s also a great spot for a picnic!

Spring is here!  Get out and enjoy all the area has to offer. For more infomation, visit http://www.marinersmuseum.org/visitor-information/park-lake.

Interested in finding more things to do in and around the Historic Triangle? Subscribe here to our blog as we post ideas frequently.  You also can purchase a copy of Liz’s recently published book, 101 Reasons to Love Living in the Historic Triangle, in either paperback or e-book version by clicking the button below.

Purchase "101 Reasons to Love Living in the Historic Triangle"

  

Are you interested in hot real estate topics, tips and trends?  
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How are Home Mortgage Payoffs Calculated?

  
  
  

By Brian D. Lytle, Esq. 

Q: How are mortgage payoffs calculated?

A:  The settlement agent will obtain a payoff statement from any lender who has a securityhow much is my home worth? interest in your home, and we are obligated to accept that figure (you may challenge it if you think it is wrong though).  Many times sellers erroneously estimate their payoffs because they do not consider or understand that interest is paid in arrears on a house loan.  For example, if you have a principal balance of September 1 but are closing on September 30, then your payoff will include accrued interest from September 1 through September 30.  That amount of interest can be nearly the amount of your house payment.  In addition, since the payoff does not arrive in the lender’s hand as of the day of closing we will add several days to account for transit and processing.

Feel free to contact us, or Brian D. Lytle at Lytle Law (757-595-5655), for questions specific to your situation. We'd love to help!

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

How Much is My Home Worth?

 

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Did You Know the Median Age of Home Buyers is 42 Years Old?

  
  
  

According to the 2013 Profile of Home Buyers and Sellers published by the National Association of REALTORS, the median age of home buyers remains unchanged from 2012 at 42 years.

The largest share of home buyers is in the 25 to 34 age group, accounting for 30% of recent home buyers in the market. Buyers in the Midwest region tend to be younger, while buyers in the West region tend to be older.

The age groups with the smallest percentage of buyers are 18 to 24 years (with 3% of home buyers) and 75 years and older (with 4%).

buying a home
(image source: 2013 Profile of Home Buyers and Sellers, National Association of REALTORS)

 

Are you looking to start the home buying process?  Email us at concierge@lizmoore.com, we'd love to help! Or, click below to download our free Home Buyer's Handbook.

Download Our FREE Home Buyer's Handbook

 

 Are you interested in hot real estate topics, tips and trends?  
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Williamsburg Real Estate Market Update

  
  
  

Just a few months into the new year and the real estate market is heating up in Williamsburg, Virginia.Williamsburg real estate market

  • Months Supply of Inventory - 6.4
    Six months of inventory is considered a balanced market.  Inventory levels continue to drop, which means we are going to see a busy Spring market!
  • Current Median Sold Price - $274,375
    This number is slightly down from last month.
     
  • % of Sold Price to List Price - 97.6%
     
  • Average Days on Market - 61 days
    This number has remained steady.
     
  • Closed Sales - down 2.7%

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

How Much is My Home Worth?

 

Are you interested in hot real estate topics, tips and trends?  
Click below to subscribe to our blog

 

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Neighborhood Spotlight - Braemar Creek, Williamsburg

  
  
  

Luxurious Maintenance-Free Living Coupled with Exquisite Surroundings

Nestled amongst 9 holes of Williamsburg National golf course, a 200 acre nature preserve, and a 2 1/2 acre lake, this condominium community offers a picturesque setting. Just a fewhomes for sale in Braemar Creek minutes from Monticello Marketplace and New TownBraemar Creek’s location boasts the best of both peaceful living and convenience.

Residents may also take advantage of the nearby recreational trails, beaches, parks, and beautiful Jamestown Island.

The community is comprised of innovatively designed townhouse style condominiums. The Woodlands collection features one and two bedroom homes while the Linkside collection offers two and three bedroom homes all with garages and some with screened porches and patios.

homes for sale in Braemar CreekAmenities include an amazing clubhouse with workout room, full kitchen, game area, and vaulted ceilings. A large porch overlooks the 30 x 60’ pool and tennis courts. Don’t miss the adjacent playground with picnic tables and grill.

In addition to Braemar Creek, Williamsburg's top selling neighborhoods include Ford's Colony, Kingsmill, Whitehall, Colonial HeritageNew Town, Settlement, Governor's LandQueens Lake and Brickshire.

Click below to download an electronic version of the magazine, or to request a hard copy, and see what these top selling neighborhoods have to offer.  

Download Our Top Selling Williamsburg Neighborhoods Magazine

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7 Must-Dos When Showing Your Home to Potential Buyers

  
  
  

"You never get a second chance to make a first impression", and this holds true when selling your home!  A negative first impression can directly translate into dollars off a full asking price. Before opening the door to potential buyers the day of a showing, or at an open house, follow these seven tips from houzz.com:

1. Detach from the stuff.selling my home
To ease the selling process, embrace the idea that your house is a commodity that needs to be sold.  Foyer tables, fireplace mantels and refrigerator doors are popular display spots for loads of personal items like holiday cards, children’s artwork, pictures and trophies. Pare down or clear off these spots for showings.

2. Make sure it looks clean.
Cleaning your home before it is shown sounds so obvious, but it is a common complaint.  Don’t overlook little details like crumbs on the table from breakfast, toothpaste remnants in sinks, half-full trash cans on display and dust bunnies in rooms you don’t frequent. 

3. Make sure it smells clean.
Diffuse cooking, pet and musty odors by airing out the home with open windows or air purifiers. Comforting smells, like baking bread or brewing coffee, can be appealing to most potential buyers. But beware of strong spray scents, candles or other products, and don't forget pet foods, toys, litter boxes and blankets may have distinct smells.

4. Remove sight-line impairments.
Artists, architects and designers are well versed in the simple trick of drawing the eye to something appealing, whether it’s a unique color, the next room or a special view. Eliminate items such as knickknacks, toys, small appliances and bath products that stop the eye, or worse, make spaces look smaller. 

5. Improve traffic flow.
Walk through each room and determine if the furniture arrangement contributes to a comfortable flow and use of space.  Too little furniture can be just as bad as too much. A tiny couch in a large family room might prompt buyers to worry they’ll never be able to furnish the whole space. 

6. Create the “Goldilocks Effect.”
No matter what time of day or year, the home’s temperature, lighting and noise levels should be just right during an open house. Room temperatures should be not too hot and not too cold. Blinds, shades and drapes should be open, and lights should be on.

7. Be strategic about handouts and valuables.
Documents about the home, especially with attractive photos, should be readily accessible. However, whether it’s an invitation-only showing or a large opening for the masses, it’s important to safeguard valuables, personal information and sensitive items.

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

How Much is My Home Worth?

 

Are you interested in hot real estate topics, tips and trends?  
Click below to subscribe to our blog

 

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