The Liz Moore Market Watch Blog

How to Shop for a Mortgage, Part 1: Where Should You Start?

Posted by Liz Moore on Tue, Jul 19, 2016 @ 04:39 PM

Buying a home is likely to be one of, if not the, largest purchases in your lifetime. Choosing the right mortgage, and mortgage lender, is a critical step in the process.  So, where should you begin?

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First, a lender can help you narrow down your desired price range, both in terms of what you will qualify for, and also in terms of what is comfortable. Having a thorough understanding of how much cash you’ll need for a down payment and closing costs is essential to know before you begin to formulate a negotiating strategy.

Click Here to Download "How to Shop for a Mortgage"

A mortgage is a long-term financial obligation and the rate you pay greatly affects the overall cost of buying your new home. A 0.5% difference in rate, for example, can save or cost you tens of thousands of dollars over the life of a loan. Accordingly it is important to shop around.

Shop For Your Lender Before You Shop For Your House

Today’s sellers won’t accept an offer until they can review a written pre-approval letter. Many sellers and their listing agents prefer that pre-approval letter comes from a reputable local lender. This can give you a negotiating edge if there are multiple prospective buyers for the same property.

Where Should You Start?

At Liz Moore & Associates, we strongly recommend using a proven local lender. Because we sell thousands of homes every year, we have a lot of experience with which mortgage companies offer the best products and the best service. 

Are you thinking about starting the home buying process?  Talking to a local lender is a great first step!  Contact McKim Beale, with TowneBank Mortgage, at mckim.beale@townebankmortgage.com and he can help get you started.

 

Tags: Buyers

Learn From The Area’s Best In Landscape Design!

Posted by Lynnette Tully on Mon, Jul 11, 2016 @ 03:42 PM

Join us at the Southern Living Showcase Home in Ford's Colony on Saturday, July 16th as Certified Landscape Designer Peggy Krapf shows us how to bring "Southern Living" to our backyards. Peggy's work has twice been featured in Southern Living Magazine!

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Presentations will be held at 1, 2, and 3pm, so please feel free to come and go at your convenience.

Click below to sign up - it's free!

Sign Me Up!

For more information on the Harbin Southern Living Showcase Home in Fords Colony or building your dream home in Williamsburg, call our new homes team at 757-645-4106 or email us at newhomes@lizmoore.com.

 

Tags: Fords Colony, New Homes

5 Reasons You Shouldn't Sell For Sale By Owner

Posted by Lynnette Tully on Thu, Jul 07, 2016 @ 04:09 PM

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When homeowners decide to sell, many will consider selling their home on their own, known in the industry as a For Sale by Owner (FSBO). 

Click to Find Out How Much Your Home is Worth

In an article published by Keeping Current Matters, several reasons are given for why this might not be a good idea for the vast majority of sellers.

1. There Are Too Many People to Negotiate With

Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:

  • The buyer who wants the best deal possible
  • The buyer’s agent who solely represents the best interest of the buyer
  • The buyer’s attorney (in some parts of the country)
  • The home inspection companies, which work for the buyer and will almost always find some problems with the house
  • The appraiser if there is a question of value

2. Exposure to Prospective Purchasers

Recent studies have shown that 88% of buyers search online for a home. That is in comparison to only 21% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?

3. Results Come from the Internet

Where did buyers find the home they actually purchased?

  • 44% on the internet
  • 33% from a Real Estate Agent
  • 9% from a yard sign
  • 1% from newspapers

The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.

4. FSBOing Has Become More And More Difficult

The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years.

The 8% share represents the lowest recorded figure since NAR began collecting data in 1981.

5. You Net More Money When Using an Agent

Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save the commission.

Studies have shown that the typical house sold by the homeowner sells for $210,000, while the typical house sold by an agent sells for $249,000. This doesn’t mean that an agent can get $39,000 more for your home as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.

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.

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Tags: Sellers

97.9% Median Sold Price to List Price on The Peninsula

Posted by Lynnette Tully on Fri, Jul 01, 2016 @ 02:18 PM

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The Peninsula housing market has slowly gained momentum all year, especially in the lower price points.

Sellers can expect to get on average over 97% of their asking price, based on year-to-date numbers.  

What does that mean for you?  It's a great time to sell!

*Statistics are from the REIN Multiple Listing Service, and are based on January – May, and run date June 30th, 2016.

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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Tags: Home Sale Statistics & Trends

July Fourth Celebrations in Hampton Roads

Posted by Lynnette Tully on Thu, Jun 30, 2016 @ 02:42 PM

There is no shortage of amazing fireworks displays and patriotic celebrations this Independence holiday weekend here in Hampton Roads.

July 1, Friday

labor-day-flag-fireworks.jpgShore Thing Concert and Independence Day Celebration, with band Coolin’ Out. 6 p.m. Ocean View Beach Park, 100 W. Ocean View Ave., Norfolk. Fireworks start at 9:30 p.m. 757-441-2345. www.festevents.org.

July 3, Sunday

Celebrate Freedom, games, family entertainment, activities, concessions, demos, concert by the U.S. Army TRADOC Band. Fireworks start around 9:15 p.m. Bring your own chairs or blanket (pop-up tents not permitted). 5 p.m. Chesapeake City Park, 900 City Park Drive. $5 onsite parking. 757-382-6411. www.cityofchesapeake.net/PRTevents.

Liberty Celebration, music, interpretive programs, military drills and artillery demonstrations, live music, re-enactments, exhibits, family activities. 9 a.m.-6 p.m. Yorktown Victory Center, 200 Water St. $9.75 adults; $5.50, ages 6-12. 757-253-4838. www.historyisfun.org/yorktown-victory-center/liberty-celebration.

July 4, Monday

34th annual Fourth of July Great American Picnic and Fireworks, food, live entertainment, music. Fireworks start at 9:30 p.m. 5-10 p.m. Town Point Park, Waterside Drive, Norfolk. 757-441-2345. www.festevents.org.

July Fourth Celebration, music, food; fireworks at 9:30 p.m. 4-10 p.m. Mount Trashmore Park, 310 Edwin Drive, Virginia Beach. $5 parking.www.vbgov.com.

Stars & Stripes Explosion, live music; fireworks at 9:30 p.m. Music starts at 7 p.m. (24th and 31st streets) and 8 p.m. (17th Street) at Virginia Beach Oceanfront. www.beachstreetusa.com.

Fourth at the Fort, family activities in Wherry Quarter, 6-8:30 p.m. “Music by the Bay” Summer Concert at Wherry Quarter, 6:30 p.m. Fireworks at 9:15 p.m. Fort Monroe, Hampton. www.fmauthority.com.

Stars & Stripes Spectacular, music, food vendors; fireworks at 9 p.m. 5:30 -9:30 p.m. Constant’s Wharf Park and Marina, 110 E. Constance Road, Suffolk. Children’s area, $5. www.suffolkva.us/parks/special-events.

Historic Cradock’s 98th Patriotic Salute, old-fashioned July Fourth celebration. Registration for children’s bike parade at Afton Parkway and George Washington Highway, Portsmouth, starts at 8:30 a.m.; parade proceeds to 45 Afton Pkwy. at 9:30 a.m.; ceremony, 10 a.m.; refreshments at 11 a.m. provided by Disabled American Veterans Chapter 41 Auxiliary and Veterans of Foreign Wars Post 993 Auxiliary. Dottie Wyatt, 757-839-7700; dottiewyatt@juno.com.

Stars in the Sky, begins at 7 p.m. with children's rides and other entertainment. Victory Landing Park, Newport News. Right On Band will perform from 7 to 9:30 p.m. Fireworks over the James River, by Pyrotecnico and Newport News Shipbuilding, will follow. Food vendors will be on site. Admission is free.

Annual July Fourth Parade and Celebration, parade at 10 a.m.; paddle boat rides, family activities. 10 a.m-4 p.m. Lakeside Park, 1441 Bainbridge Blvd., Chesapeake. 757-839-0383. www.snjuly4.com orwww.southnorfolkcivicleague.com.

Liberty Celebration, music, interpretive programs, military drills and artillery demonstrations, live music, re-enactments, exhibits, family activities. 9 a.m.-6 p.m. Yorktown Victory Center, 200 Water St. $9.75 adults; $5.50, ages 6-12. 757-253-4838. www.historyisfun.org/yorktown-victory-center/liberty-celebration.

2016 Yorktown Fourth of July, day begins at 8 a.m. with 8K run/5K walk at York High School; followed by 9 a.m. parade on Water and Main streets; bell-ringing ceremony and live music, Riverwalk Landing Stage, at 7 p.m.; fireworks at 9:15 p.m. over York River. 757-890-3500.www.yorkcounty.gov/tourism/Events/July4th.aspx.

Colonial Williamsburg  Fireworks will begin at 9:15 p.m. and will last until 9:35 p.m., at which point those in attendance can enjoy a torch-lit Fifes and Drums march from Palace Green, down Duke of Gloucester Street, and ending on Botetourt Street.  While the fireworks are free to attend, those interested may purchase VIP tickets — $85.95 for ages 11 and up and $50.95 for ages 3 to 10 — that guarantee front-row seating for the Palace Green fireworks and a personal escort from the Fifes and Drums.  The VIP ticket also includes access to children’s games and activities, as well as a cash bar, a dinner buffet at the Williamsburg Lodge and live music, all of which begins at 4 p.m.

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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Tags: Locals - 101 Reasons

Help Us Build Up Our Food Bank!

Posted by Lynnette Tully on Wed, Jun 29, 2016 @ 03:09 PM

Please help our local food bank prepare for their summer food service program which is designed to fill the nutrition gap & make sure children get the nutritious meals they need while school is out. We will be accepting non-perishable food donations at both Liz Moore offices through July 15th.

 

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Then bring your kiddos to the plaza in front of Regal New Town Stadium in Williamsburg on Saturday, July 16th from 10am-noon for our Children’s Can Building Competition. They will build “houses” out of all the items we collect for a chance to win season passes to Busch Gardens!  Sign your kids up for the event at www.lizmoore.com/buildupfoodbanks .

Help us spread the word by sharing the Facebook Event Invite!

 

Tags: Locals - 101 Reasons, Home Page, Community

What to Expect When You Sell, Part 10: Marketing

Posted by Lynnette Tully on Fri, Jun 24, 2016 @ 10:00 AM

targeted-advertising-arrow.jpgHow will my home be marketed? 

At Liz Moore & Associates, we have a proven marketing strategy that has resulted in market leadership for many years.

Click Here to Download Our Marketing Strategy Package 

Every property is unique.  And, every property deserves a customized marketing strategy.  We get it.  We have an onsite Marketing Department, with dedicated graphic designers whose mission is to make your listing shine.  Whether it is creating memorable, full color, glossy brochures and direct mail pieces, or writing ad copy to entice a prospective buyer, our work is head and shoulders above what you’ll find anywhere else.

Our overall strategy is the most comprehensive in the region:  from event marketing to a variety of media (radio, newspaper, magazine, and direct mail), our objective is always to engage our prospects and build ongoing relationships.  Our agent database touches over 20,000 people.

Your Liz Moore agent will design a custom marketing plan for your listing as well as your neighborhood, drawing from a wide variety of resources and successful ongoing campaigns.

Additionally, your listing agent will create a custom marketing plan based on the specific target demographics for your listing.

Putting your home on the market can be overwhelming, so we’ve prepared this guide as an overview of what you can expect each step of the way when you list your home with Liz Moore & Associates.  

Click below to download "What to Expect When You Sell" and have all of your questions answered!

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Tags: Sellers

“Potluck with a Purpose” Raises Money for Avalon

Posted by Lynnette Tully on Thu, Jun 23, 2016 @ 10:00 AM

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Jackie Mierle and Lynnette Tully, admin staff at Liz Moore & Associates, hosted “Potluck with a Purpose” last Thursday during lunch.  They prepared a taco bar complete with cilantro lime chicken, ground beef, rice and beans, and toppings galore.  Agents and staff enjoyed a delicious meal together and made a minimum donation of $5 each.  Over $220 was raised and will be donated to Avalon!

Avalon provides shelter and support to those experiencing domestic violence and sexual assault in the Greater Williamsburg area. By offering tools for safety, self-sufficiency, and empowerment, Avalon works to break the cycle of abuse and helps create a positive future.

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Tags: Community

98.3% Median Sold Price to List Price in Willaimsburg

Posted by Lynnette Tully on Wed, Jun 22, 2016 @ 01:52 PM

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The Williamsburg housing market has slowing gained momentum all year, especially in the lower price points.  

Sellers can expect to get on average over 98% of their asking price, based on year-to-date numbers.  

What does that mean for you?  It's a great time to sell!

*Statistics are from the Williamsburg Multiple Listing Service, and are based on January – May, and run date June 21st, 2016.

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

Subscribe!

 

Tags: Home Sale Statistics & Trends, Williamsburg

Ikea is coming to Hampton Roads!

Posted by Lynnette Tully on Tue, Jun 21, 2016 @ 03:37 PM

Get ready, Hampton Roads, your greatest dream is about to come true!

If you haven't already heard, company leaders of the Swedish home furnishings retailer Ikea announced that they are planning to open a 331,000-square-foot store at Interstate 64 and Northampton Boulevard in Norfolk by the summer of 2018.

The store will feature 10,000 exclusively designed items, 50 room setting demos, three model home interiors and a 450-seat restaurant serving Swedish and American fare.

The construction phase is expected to bring 500 jobs with the retailer hiring 250 employees for the store operations.

One thing is certain, many Hampton Roads residents have just started the count down to summer 2018!

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

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

Subscribe!

 

Tags: 101