The Liz Moore Market Watch Blog

Cupcake Wars for CHKD & Comfort Zone Camp!

Posted by Lynnette Tully on Mon, Jan 16, 2017 @ 01:21 PM

Mark your calendars – our Annual Cupcake Wars fundraiser will be held on Friday, February 10th from 11am – 2pm (or until we run out of cupcakes) in ALL THREE Liz Moore offices!  Get creative and donate your prize winning treats, or stop by and pick up some baked goods for your sweet tooth.  All proceeds will go to CHKD and Comfort Zone Camp.

CupcakeWars2016_eCard.jpg

For more information on how you can contribute to this event, email Lynnette at lynnettetully@lizmoore.com.

Help us spread the word by inviting your friends and sharing the Cupcake Wars facebook event on your wall!

Tags: Locals - 101 Reasons

Richmond Sees Dramatic Rise in Sold Price to List Price Ratio

Posted by Lynnette Tully on Mon, Jan 09, 2017 @ 12:58 PM

RVA.jpgIn the Central Virginia Region, sold price verses list price trends yielded a 96.7% ratio, up from last year's 79.7% (November 2015), a dramatic 21.27% upswing.

As we begin to move into the year's busiest selling season, this will certainly create pressure on decreasing Month's Supply of Inventory (MSI) in the months to come.

What does this mean to you?  Now is a great time to sell!

Statistics are from CVRMLS, and are based on data from Dec. 2015 - Dec. 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: Sellers, Home Sale Statistics & Trends, Richmond

10 Common Mistakes Investors Make

Posted by Lynnette Tully on Thu, Jan 05, 2017 @ 02:12 PM

Despite what you may watch on late night TV infomercials, don’t expect to “get rich quick” in real estate.  There are many ways to build wealth by creating a profitable real estate portfolio, but it takes investment savvy, patience, research, and time.  We would love to help you get there!investment_growth.preview.jpg

Here are the 10 most common mistakes that novice investors make:

#1    They begin their investment adventure without a plan.  They buy a piece of property, convinced that it’s a “good deal” and then go about figuring out what to do next.  That’s working backward, and it’s likely to result in trouble.

Begin by creating an investment strategy, based on your individual goals.  That might be building long term wealth, or it may be realizing some quick profits in return for some sweat equity, flipping houses.  Our investment experts can guide you in establishing a plan based on your particular objectives. 

#2    They tend to be emotional.  Investing in real estate is very different than buying a home as a personal residence.  It’s important as an investor to be detached, and stick with the formula that produces the return on investment objective that you’ve set.  If you find yourself in a bidding war, you should be able to walk away when the price exceeds the established parameters in your formula.

#3    They fly solo.  Novice investors try to pinch pennies by wearing all the hats in a transaction.  Successful investors work in teams, where they have surrounded themselves with a circle of professionals who are all working together to deliver a common goal.

At a minimum, you’ll need an experienced investment REALTOR, an accountant, an attorney, a lender, and access to a reliable network of contractors, including a home inspector and a handyman.

#4    They pay too much.  Again, stick to your formula.  A carefully prepared analysis can tell you exactly what your return will be, based on certain criteria.  You must be willing to walk away if the seller is unrealistic or unwilling to work within your parameters.

#5    They avoid doing homework.  You wouldn’t think that you’re qualified to perform brain surgery without years of education and specific training.  So, why is that so many would-be investors jump right into major financial purchases without investing any time at all in research and knowledge?

There are many great books available on the subject, many on our bookshelf.  There are also hundreds of great articles and case studies available to you online.

#6    They skip due diligence.  No matter how sweet the deal appears, you should always perform due diligence before getting so far into the transaction that you’re committed.  At a minimum, that means getting a qualified home inspector to do a thorough review of the property, to alert you to any condition issues that you’ll need to account for in your proforma.

#7    They underestimate tax consequences.  There are many different ways to build wealth through real estate investing.  Understanding the ways that you can capitalize on tax benefits is an income stream in and of itself.  You should thoroughly understand the ramifications of capital gains, as well as the opportunities presented by 1031 tax deferred exchanges, before you pull the trigger.

#8    They ignore timing.  Although the buzzwords in real estate have long been “location, location, location”…savvy real estate investors know that the real key to building wealth is “timing, timing, timing.”  All real estate is cyclical, and understanding the dips and peaks can mean the difference of thousands in your pocket.

Be a student of the market.  Understand inventory levels, absorption rates, days on market, and appreciation percentages for the areas that you’re focused on.

#9  They don’t do their financing homework.  Having the right lender on your investment team is an ace in the hole.  By understanding your long term investment objectives up front, an investment lender can make sure that you are qualified for the right loan programs to meet your objectives, as well as making sure that you have funds available when you need them.  Sometimes an investor is better served by a banking relationship, and sometimes a mortgage loan officer is a better fit…all depending on the scope of the investment plan.

#10  They don’t have a Guide.  Creating a team, resources for knowledge and case study review, help to determine investment goals, and a plan to get there, access to a network of experienced professionals…all of those things add up to successful investing.  And, all of those things are delivered by a seasoned investment counselor, someone who is experienced and knowledgeable and connected.  We would love to be your Guide!

Download our FREE eBook, Field Guide to Real Estate Investing, and find out what every investor should know!

Download The Field Guide to Real Estate Investing

 

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Tags: Investors

Can You Predict the First Snow Fall of the Season?

Posted by Lynnette Tully on Mon, Jan 02, 2017 @ 10:20 AM

Snowflakes-snowflake-clipart-transparent-background-free.pngCalling all weather experts...or, just good guessers!  Predict the first day we'll see an inch or more of snow in our area this winter.  Closest guess will win a $100 gift card to the restaurant of their choice.  The contest will run unil it snows!  Good luck!

Click below to register your guess.

Call the Snowfall!

 

 

Tags: Locals - 101 Reasons

10 Popular Home Decor Trends for 2017

Posted by Lynnette Tully on Tue, Dec 27, 2016 @ 01:49 PM

pattern-tile-bathroom-vintage.jpgIs a home remodel on your list of new year's goals for 2017?  Or, maybe your new year's plan is to update your home to get it ready to sell? Better Homes and Gardens has put out a list of what they predict to be the top ten trends in home design and decor in 2017.

1.  Matte Black
Matte black makes a sophisticated statement in the kitchen, and we expect to see a lot more of this bold look on cabinets and appliances everywhere.

2.  Intergalatic Spaces
This is a step up from those sticky glow-in-the-dark stars you had in your childhood bedroom. Galaxy-themed accessories are flooding the decor aisles, and we are definitely hyped about it. Let your imagination soar with this cool DIY faux geode that we think looks a bit like intergalactic stone.

3.  Copper Accents
tep aside, rose gold. The new metal trend is warm copper. Play it safe by putting your copper pots and pans on display in the kitchen, or go bold with a large copper light fixture in the living room. You'll love this look!

4.  Bohemian Style
We used to think kilim rugs and other fabrics were strictly for Bohemian spaces. But we are happy to find out these wild prints can be incorporated anywhere! If you really want to make a statement, hang a kilim rug on the wall that'll be a pop of color enough for the whole space.

5. Patterned Tile
The new wallpaper is... tile? Indeed, it is! You better get used to this look, because bold, beautiful patterned tiles will be everywhere the coming year. We are seriously crushing on this black and white accented wall made entirely of tiles.

6.  Velvet
If you're looking to add some warmth to your living room, consider a smooth, velvety couch. This statement piece will have you looking luxurious and cozy all at the same time. Fun pops of color are especially popular in this fabric.

7.  Jewel Tones
Instantly bring your walls to life with a fresh coat of deep, rich jewel tones. Dark blues, purples, greens, and gold make the rising pallet this year. If you're not looking to do a total paint job, scatter your home with a few jewel-toned accessories.

8.  Faux-Stone Surfaces
Stone walls, granite, and marble will all be making appearances in homes this coming year. We love the look but aren't enthused about the price, so we are determined to find the best faux-stone surface for your home.

9.  Nature-Inspired
Hold onto your succulents, because 2017 is going to see a lot more greenery indoors. Start with small desk plants and work your way up to large houseplants that command attention in a room. Just be sure to do your research on watering and sunlight before committing to a plant!

10.  Smart Homes
Get ready to live like it's the year 3000. Smart homes come decked out with all the coolest gadgets including voice-activated bots, hands-free faucets, and more. However, we are most excited about high-tech showers with programmed spray sequences for your relaxing pleasure.

If you’re a seller who has been wondering if it might finally be time to sell this winter, 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: Buyers, Sellers

9 Things to Consider Before Making an Offer on a Home

Posted by Lynnette Tully on Fri, Dec 23, 2016 @ 10:09 AM

There are many things to consider when buying a home, in addition to things like number of bedrooms and overall square footage.  REALTOR.com has a list of topics you should do your homework on before you sign on the dotted line.167447516.jpg

1. Search for neighborhood information online.
If you already live in the community, you may be able to skip this step, but it’s always a good idea to find out as much as you can about the neighborhood.

2. Check the crime report.
Your local police station will have statistics on crime and you can also go to www.crimereports.com to find information according to a particular address or ZIP code.

3. Check on the schools.
Even if you don’t have children, buying a home in a good school district is an important way to make sure your home maintains its value. You can find information on each school district website or go to www.GreatSchools.com for ratings.

4. Check for local amenities.
You can go to Google Maps for a Street View of a community to see what’s nearby, or visit www.WalkScore.com to find out what is within walking distance of the home. If you have a particular activity that you enjoy, such as tennis or golf or swimming, find out how far you’ll have to go to get to a facility.

5. Check for neighborhood amenities.
If you’re buying within a homeowners association, you can usually find information online about community activities, but even in areas without an association some neighborhoods have frequent community-wide gatherings or sports leagues.

6. Visit the home at different times of day.
If you want to know what it will be like to live somewhere, visit on a weekday, a weeknight and a weekend to see how quiet or active the area will be.

7. Test your commute.
If you only visit a home on a weekend you’ll have no idea what the traffic pattern is like during rush hour, which could have a big impact on your enjoyment of the property.

8. Talk to the sellers.
If the sellers are willing to share information with you, they’re the best resource of all to learn about the community and the house. You can ask the sellers about renovations they’ve done and even talk to them about whether your plans for the house are possible.

9. Ask about taxes, homeowner association dues, homeowners insurance and utility bills.

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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Tags: Buyers

Happy 13th Anniversary, Liz Moore & Associates!

Posted by Lynnette Tully on Mon, Dec 19, 2016 @ 12:04 PM

In honor of our 13th anniversary as a company, here's a little "Monday Morning Mojo" from Liz!

Good morning, LMA!

It’s not every year that December 19th, our Company’s anniversary, falls on a Monday so that I can take advantage of the special occasion for a Monday Morning Mojo!  Hard to believe that we are celebrating our 13th year in business.LMA Logo HIGH RES.jpg

It seems like yesterday that we were opening our doors at 11801 Canon Boulevard in Newport News for the very first time!  With 32 agents and a handful of staff, all eager to begin reinventing real estate, we jumped into a fast paced market not really knowing what to expect.  We enjoyed the real estate glory days until late 2006, when the market began to shift.  We were fortunate to shift with it, and we actually grew our market share and our team by leaps and bounds, despite the economic downturn between late 2007 and 2012.  The last 3 years have been our best yet, as the market and economy have rebounded, and we have been blessed to outpace the market, and enjoy a remarkably high % of repeat and referral business.  Because you all are Rock Stars!!

I am so excited about 2017 and the years ahead.  Richmond is off to an incredible start – 18 amazing agents on board since September 1st, and a wonderful team spirit and momentum in the new office.  Property management added 109 new management agreements this year, which is truly incredible performance for only 4 property managers.  We’ve ramped up our support teams considerably in the past few years to ensure that we deliver the same level of service as we grow – and that new energy has opened many new doors.  Both Newport News and Williamsburg have enjoyed healthy sales years, and welcomed some fabulous new talent to our team, teeing us up for record levels of performance in 2017 and beyond.

From mannequin challenges to wine label design to angel trees, you all are living proof that real estate can be *FUN* as well as profitable, and that we can deliver an extraordinary experience to our community as well as to our clients.  For that, I am truly grateful.

You all inspire me to look forward to coming to work each and every day, even after 13 years.  That’s 676 Monday Morning Mojos – whew!  Ok, I may have missed a few :-)

A special 13th anniversary wish to Brian, Donna, Dewey, Ingrid, Debi, Teresa, Janet, Phyllis, Joanna, and Erik!

- Liz

Tags: Buyers, Sellers, Locals - 101 Reasons, Home Page

Staging Your Home to Sell in the Dead of Winter

Posted by Lynnette Tully on Wed, Dec 14, 2016 @ 11:36 AM

Winter-Home.jpg

Winter isn't "officially" here for another week, but why not get a head start on making that first impression? So, how do you make a home look inviting in a photograph when the ground is frozen, the tree limbs are bare, and the sky is overcast?  REALTOR Mag gives some tips for staging the outside of your home in the dead of winter.

1.  Follow the sun.
Capture the home’s exterior when the sun is lighting the front of the house, usually between 10 a.m. and 3 p.m., suggests Tony Calarco, owner of Jump Visual, a real estate photography company. You can use mobile apps—Sun Seeker (iPhone), Focalware (iPhone), or The Photographers Ephemeris (iPhone, Android, or desktops)—to tell you the sun’s direction by time of day.

2.  Add some color.
Add hearty potted plants such as mums, poinsettias, or ornamental cabbages around the front entrance.

3.  Tidy up the landscaping.
Even in the colder months, home owners need to make sure the lawn is well-manicured. Make sure to put away hoses and seasonal items and to remove fallen leaves. Pay careful attention to the front porch. too. 

4. Use snow to your advantage.
If your area gets snow, the best time to capture a home in the winter is following a fresh snow. Be sure to have walkways and driveways cleared so that the photograph leads the eye to the home’s front door.

(side note - make sure you get new photos taken of the exterior once the snow melts so the listing doesn't look dated.)

Have you thought about selling your home this season but decided to put it off until the spring?  Winter is actually a great 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: Sellers

Williamsburg Real Estate Sales Up Year Over Year

Posted by Lynnette Tully on Thu, Dec 08, 2016 @ 04:01 PM

Capture-11.jpgClosed Sales in the Greater Williamsburg real estate market are up 4.6% over 2015. 

It looks like the year will finish strong, with positive trends in each of the key benchmarks.  2017 promises to be another great year for Williamsburg real estate!

*Statistics are from the Williamsburg Multiple Listing Service, and are based on January – October 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, Williamsburg

Enter the Liz Moore Holiday Mannequin Challenge...You Could Win Cash!

Posted by Lynnette Tully on Tue, Dec 06, 2016 @ 03:39 PM

Think you've got mannequin skills? Get ready for the Liz Moore Holiday Mannequin Challenge!! Video your best mannequin challenge with your friends and family trimming the tree, at your office Christmas party, ringing in the new year...wherever! Get creative! Send your videos to contest@lizmoore.com and you could win $100 in cash just in time to pay off that holiday debt! Stay tuned in the coming weeks for samples from our favorites, as well as the announcement of the grand prize winner. Spread the word!

Christmas Mannequin Challenge 2016 (002)-1.jpg

 

Tags: Locals - 101 Reasons, Home Page