The Liz Moore Market Watch Blog

Lynnette Tully

Recent Posts

Day Tripping: Virginia Beach

Posted by Lynnette Tully on Mon, Mar 18, 2019 @ 02:59 PM

kevin-delvecchio-273275-unsplash

Virginia Beach has all the elements of a classic seaside resort town all within a short drive making it the perfect day trip beach destination.  Just an hour or two away, you will find gorgeous beaches, a bustling boardwalk, a variety of excellent restaurants, and fun activities sure to appeal to outdoor enthusiasts and kids. Virginia Beach is a year-round destination with beach fun and water play in the summer and many attractions to explore in the less crowded, cooler months.  Let’s head east and explore! 

Virginia Beach first and foremost offers miles of wide, gorgeous sandy beaches along the Atlantic Ocean. People near and far flock to Virginia Beach to sun bathe on the shore, splash in the waves, and enjoy the boardwalk.

If you like adventure, Virginia Beach has exciting waves that attract boogey boarders and surfers daily, especially around the south end of the beach.  The locals usually surf around 1st Street at the oceanfront if you want an authentic surfing experience.  Still a grommet on the waves?  No problem, several outfits offer surfing lessons and board rentals including VB Surf Sessions, Seth Broudy School of Surf, and Pungo Board House.  You can find more information on lessons and rentals on their websites at www.vbsurfsessions.com, www.sethbroudyschoolofsurf.com and www.pungoboardhouse.com.

Those wanting to enjoy the water at a slower pace might enjoy stand up paddle boarding, or SUP as seasoned paddlers call it.  Companies offer lessons, rentals, guided eco tours, and even SUP yoga on the calmer waters around Virginia Beach including First Landing State Park, Rudee Inlet, and Back Bay.  SUP is great exercise and offers beautiful nature views that often include pods of dolphin, osprey, bald eagles, great blue herons, and more.  A few tour companies to check out are Beach Eco Tours, Rudee Inlet Stand Up Paddle, and Tula Adventure Sports Stand up Paddleboard & Kayaking.  You can learn more on their websites at www.beachecotours.com, www.paddleboardvb.com, and www.tulasports.com.

For those looking to just sit back and enjoy the view, a boat tour might be more your speed.  Many tours are offered including fishing, dolphin watching, and there is even a Craft Brews Cruise offered by the Virginia Aquarium!  Capt. Jack’s Pirate Ship Adventures are very popular with tourists of all ages.  Aboard Capt. Jack’s Black Pearl, a bright red ship flying iconic Jolly Rogers, passengers sing and dance along with the crew, enjoying the show as much as the view.  More information on boat tours is available at www.rudeetours.com, www.virginiaaquarium.com, and www.virginiabeachpirateship.com

When exploring Virginia Beach’s land-based attractions, the VB Wave, a trolley-inspired bus, makes getting around fun, easy, and affordable.  The VB Wave transports passengers around the oceanfront, Rudee Inlet, and First Landing State Park.  Just hop aboard at one of the many stops and sit back and enjoy the ride!  Fares are due in cash and cost $2.00 per adult and children 17 and under are free with a paying adult!  Day passes are available for $4.50 each.

All of the fun in the sun is sure to make you hungry and Virginia Beach has many delicious and unique dining options.  A couple of our favorites include Citrus, breakfast here is a must!  Located at 2265 W Great Neck Road and made famous by appearing on Diners, Drive-Ins, and Dives, locals and tourists alike stand in line for citrus orange glazed pancakes and innovative benedicts.  And what’s a trip to the beach without enjoying a raw bar?  Local favorite, Big Sam’s Grill and Raw Bar located at 300 Winston Salem Ave. in Rudee Inlet serves up fresh, locally caught seafood dishes and raw bar items in a comfortable setting with views of the marina. 

Thirsty for an adult beverage? Quench your thirst with an Orange Crush, the unofficial drink of Virginia Beach, made famous by Waterman’s Surfside Grille, a great oceanfront restaurant at the south end of the beach.  The recipe is a blend of the juice of one whole fresh orange with flavored vodka, orange liqueur and a splash of Sprite served over crushed ice.

If you decide to turn your day trip into an overnight, there are numerous hotels and motels for every budget.  One of our favorites is the Hilton Garden Inn Virginia Beach Oceanfront located at 3315 Atlantic Avenue, Virginia Beach.  This hotel is at the northern, quieter end of the beach and features an indoor/outdoor pool and their onsite restaurant, Lagerheads. 

There is so much to see and do in Virginia Beach, enough to fill up many, many day trips.  It’s a good thing this jewel is just a short drive away! Other day trip options include a visit to the Virginia Aquarium and their Adventure Park, seeing a concert at the Veterans United Home Loans Amphitheater, visiting the Military Aviation Museum, touring an oyster farm, visiting the Cape Henry Lighthouse, playing at Top Golf, and so much more.  Plan your trip today!

Virginia Beach...just another reason why we love where we live!

 

 

Tags: Locals - 101 Reasons, lizlocal, lizlocal-Richmond, lizlocal-Williamsburg, lizlocal-Peninsula, relo-williamsburg-local, relo-peninsula-local, relo-richmond-local

What Will We See in the 2019 Peninsula Real Estate Market?

Posted by Lynnette Tully on Mon, Mar 11, 2019 @ 11:09 AM

rawpixel-620230-unsplashBy: Donna Moyer, Managing Broker in Newport News

2018 was another solid year for local real estate. Here on the Peninsula, closed sales finished up 1% for the year, on top of a small increase in 2017. The final quarter was strong, with pending sales up a little over 7%.

We are entering 2019 with less than 4.5 months of active inventory, and homes selling, on average, in only 41 days. On average, sellers accepted offers at over 98% of their asking price last year. That is good news for sellers who are priced properly and in good condition, or for prospective sellers who are thinking about diving into the market. Nationwide, most markets are experiencing inventory shortages, which is the single biggest factor keeping a lid on the number of sales.

The exception here is the upper end market, where sellers need to be significantly more patient – there is currently 10 months of inventory priced at $500,000 and up on the Peninsula.

Prices remained remarkably steady during the past 12 months, with the median sales price on the Peninsula at $192,00 for most of the year.

Here is what I see in the coming 12 months:

A shortage of listings has been our biggest challenge for the past 18 months. My expectation is that we will continue to see more listings come on the market as we move into the Spring. We have seen a significant jump in new listings over the past few months, signaling that wise sellers recognize the importance of beating the competition to the Spring market.

As the typical Spring seasonal demand builds, consumers will realize that moves need to be made ASAP in order to take advantage of a 9 year streak of historically low rates and home values. It’s important to note that the market can shift quickly, and it will not surprise me to see a highly competitive Spring season for homes selling below $400,000.

Interest rates will continue a slow and steady climb this year. Interest rates have been perplexing over the past 12 months. Most predicted the inevitable ascent would begin as the economy gained steam, but rates remained lower than predicted, most likely because the feds were hesitant to do anything that might inhibit the momentum of the recovery.

I believe that 2019 will be the year that interest rates incrementally increase, but the question remains by how much and how frequently. The good news is that this is a sure sign of a strengthening economy, but the bad news is that each hike raises the bar on home affordability. My prediction is that this will add some urgency to the market this year, particularly in the lower price ranges.

Prices will finally begin to show improvement in many neighborhoods. Prices are neighborhood specific, and some areas are definitely improving faster than others. We saw a slight rise in appreciation on the Peninsula last year (with the median sold price up 5%), and I expect we will continue to stay on this more normal appreciation rate in 2019 and beyond.

If a home purchase is on your New Year resolution list, buy early in the year, as interest rates have a much greater impact than most realize. For instance, waiting for prices to drop 5% to save $12,500 on a $250,000 purchase may cost you an extra $225 per month in payments; if rates increase from 4% to 5.5%, then your payment increases from $1194 to $1419. For most buyers, the affordability index of monthly payments is a more critical consideration.

We were fortunate to participate in 1 out of every 6 home sales on the Peninsula in 2018, insuring a position as an agency in the local market. Your support and referrals are much appreciated, and we promise to deliver the extraordinary client experience that has become our hallmark!

*All stats based on Broker Metrics (REIN MLS areas 101-113) residential home sales in 2018

If you are looking to buy or sell a home this year, email us at info@lizmoore.com.  We'd love to help!

Tags: Buyers, Sellers, Hampton, York County, Newport News, Poquoson, lizlocal-Peninsula, relo-peninsula-news

A Big Night for Liz Moore & Associates and Their Builder Clients at the MAME Awards in Richmond

Posted by Lynnette Tully on Mon, Mar 04, 2019 @ 04:31 PM

The Annual Mame Awards were held on Friday, March 1st in Richmond, Virginia.  MAME stands for Major Achievements in Marketing Excellence and the MAME Awards pay tribute to superior sales and marketing achievements by individual professionals, home builders, developers, remodelers, real estate agents, and associate members. The competition is presented by the Sales & Marketing Council (SMC). 

Three of the area builders that are marketing by Liz Moore and Associates took home awards.

perk-3Perkinson Homes won for Best DVD/Promotional Video and Best Digital Advertisement for their video series promoting Primland Creek in Hallsley.  A majority of their lots were pre-sold due to these promotions, so it is no surprise that they came home winners!

Baldwin Creek and Philip Bourdon won for Best Community Spirit.  Philip baldwinbelieves in giving back to his community by sponsoring an apprenticeship program with a local high school, giving students hands on experience in the building world.

53093761_316255829078001_7737482629984813056_nNK Homes won the award for Best Marketed Community in Rochambeau Estates.  The newly-established Rochambeau Estates highlights the beauty of New Kent County with spacious and quiet lots. This lends itself towards private living while still delighting in the charming community. 

In addition to our builder clients winning big, Tonya Morrow, managing broker of our Richmond office, took catie and tonya-1home two awards.  Tonya won Marketing Executive of the Year and Sales Manager of the Year.  Wow!  Congratulations, Tonya!

If you are interested in buying or selling real estate in the Richmond, Virginia area, or are a home builder looking for a firm to support you in marketing, email us at info@lizmoore.com.  We'd love to show you how our effective marketing can serve you!  

Tags: New Homes, Richmond, lizlocal-Richmond, relo-richmond-news

Grand Opening in The Point on Fisher's Creek, Newport News

Posted by Lynnette Tully on Thu, Feb 21, 2019 @ 01:08 PM

POFC-2Join us for the Grand Opening of the Waverly in The Point on Fisher's Creek by Stephen Alexander Homes and Neighborhoods on Sat. March 9th and Sun. March 10th from 1-4pm. The builder, Stephen Quick, will be on-site to offer tours and answer any questions you may have about the home or their product.  

This beautiful home features 3,500 sq. feet of smart living, open concepts and coastal charm. This expansive floor plan includes five bedrooms, three and a half baths, a built-in entertainment center in the family room with bookshelves and a fireplace. A culinary chef’s dream, the kitchen features a large island, 42” custom cabinets, stainless steel appliances, granite, and a beautiful glass tile backsplash. Off the kitchen is a custom butler’s pantry including a culinary station and wine built-in. With 10’ ceilings on the first floor, the home feels open, airy and bright. Upstairs is a spacious master suite with a spa like bathroom, huge tile shower with a glass enclosure, dual showerheads and built-in vanities. Over the garage is a spacious bonus/bedroom that offers space for an office, playroom or both! Don’t forget about the beautiful screened-in porch off the eat-in kitchen area, it completes the house! There are so many gorgeous features in this model home at The Point on Fishers Creek, which is centrally located to shopping, Schools, Military Bases, Hospital, Christopher Newport University, Port Warwick, City Center Newport News.

Stephen Alexander Homes provide quality craftsmanship, unique design, and superior service.   A multigenerational family business, the company is committed to developing and building the finest communities in Hampton Roads.

For more information, ask Cathy Jackson (CathyJackson@lizmoore.com) or follow us on Facebook at www.facebook.com/lizmoorenewhomes

Tags: Newport News, New Homes, event, event-Peninsula, events

Real Estate Assessments Grow Across the Richmond Area

Posted by Lynnette Tully on Fri, Feb 08, 2019 @ 11:37 AM

rawpixel-790897-unsplashReal Estate Assessments are up in the majority of counties across the Richmond area and the news has homeowners buzzing.  

Hanover County will see its largest year-over-year increase in the past decade by 6.1%.  According to the assessor’s office, the reassessment of 37,000 properties and new construction will increase the value of the county’s total taxable property by $856.6 million.  

The median assessment of a Hanover County home will be $277,700, an increase of 7.7% over the current year.

In Henrico County residential real estate assessments were roughly 4.8% higher than last year’s, with the average assessment at $255,000.

Henrico’s tax rate is 87 cents per $100 of assessed value, meaning that the average real estate tax bill for Henrico homeowners will increase by about $92.

The average assessment in Chesterfield County increased by about 3.7%, with the average single-family home assessed at $250,000.  Here, the county’s real estate tax rate is 96 cents per $100 of assessed value.

What does this mean for homeowners?  The market is strong and there's not a lot of inventory.  If you have been thinking about selling, now could be the time!  Email us at concierge@lizmoore.com, or click below, and we can prepare a complimentary analysis of market value for you.

How Much is My Home Worth?

 

 

Tags: Buyers, Sellers, lizlocal, lizlocal-Richmond, relo-richmond-news

New Homes Tour...with Wine & Chocolate!

Posted by Lynnette Tully on Tue, Feb 05, 2019 @ 03:02 PM

Capture-18Join us on Saturday, February 16th, from 1-4pm for the Liz Moore and Associates New Homes Tour.  With 11 homes on tour from the Peninsula up to Richmond, one is bound to be near you!

And what's better than touring beautiful homes?  Doing so while sampling wine and chocolate! 

Bring your valentine out for a little fun! To download the complete list of participating homes, visit www.lizmoore.com/valentine.

 

Tags: Newport News, Poquoson, New Homes, Williamsburg, Richmond, event, event-Peninsula, event-Williamsburg, event-Richmond, events

Coming Soon: Grand Opening in The Point on Fisher's Creek, Newport News

Posted by Lynnette Tully on Fri, Jan 25, 2019 @ 10:59 AM

POFC-2Coming Soon: Grand Opening of the Waverly in The Point on Fisher's Creek by Stephen Alexander Homes and Neighborhoods. The builder, Stephen Quick, will be on-site to offer tours and answer any questions you may have about the home or their product.  Stay tuned for date and time.

This beautiful home features 3,500 sq. feet of smart living, open concepts and coastal charm. This expansive floor plan includes five bedrooms, three and a half baths, a built-in entertainment center in the family room with bookshelves and a fireplace. A culinary chef’s dream, the kitchen features a large island, 42” custom cabinets, stainless steel appliances, granite, and a beautiful glass tile backsplash. Off the kitchen is a custom butler’s pantry including a culinary station and wine built-in. With 10’ ceilings on the first floor, the home feels open, airy and bright. Upstairs is a spacious master suite with a spa like bathroom, huge tile shower with a glass enclosure, dual showerheads and built-in vanities. Over the garage is a spacious bonus/bedroom that offers space for an office, playroom or both! Don’t forget about the beautiful screened-in porch off the eat-in kitchen area, it completes the house! There are so many gorgeous features in this model home at The Point on Fishers Creek, which is centrally located to shopping, Schools, Military Bases, Hospital, Christopher Newport University, Port Warwick, City Center Newport News.

Stephen Alexander Homes provide quality craftsmanship, unique design, and superior service.   A multigenerational family business, the company is committed to developing and building the finest communities in Hampton Roads.

For more information, ask Cathy Jackson (CathyJackson@lizmoore.com) or follow us on Facebook at www.facebook.com/lizmoorenewhomes

Tags: Newport News, New Homes, event, event-Peninsula, events

Introducing Karen Wolons, a Liz Moore Rainmaker

Posted by Lynnette Tully on Thu, Jan 24, 2019 @ 11:10 AM

Rainmakers are selected based on their sales accomplishments earning them a spot among the top 20% of Liz Moore & Associates top performers.

In additional to sales volume standards, Rainmakers share client-centric philosophies, a dedication to being masters of their craft, and a commitment to giving back to the community they serve.

Introducing Karen Wolons, a Liz Moore Rainmaker!

Tags: Williamsburg, careers

Cupcake Wars for CHKD and Conquer Chiari!

Posted by Lynnette Tully on Tue, Jan 22, 2019 @ 03:44 PM

Mark your calendars – our CupcakeWars_Sticker-2Annual Cupcake Wars fundraiser will be held on Monday, February 11th 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 Conquer Chiari.

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 timeline!

Tags: Williamsburg, Community, Richmond, event, event-Peninsula, event-Williamsburg, event-Richmond, events

Introducing 3D Technology on Liz Moore Listings

Posted by Lynnette Tully on Wed, Jan 09, 2019 @ 03:03 PM

LMA_matterport-dog
At Liz Moore & Associates, we understand how to leverage technology to deliver an extraordinary real estate experience to our clients. We've made a significant investment in groundbreaking Matterport technology, so that prospective homebuyers can have an immersive online experience, giving them a true sense of the feeling of our listings before they ever visit in person.

What are the benefits to Buyers?

Navigate a property like a video game with Inside View and see how each room fits together using Dollhouse View. Understand layout in a glance with the top down Floorplan View.

What are the benefits to Sellers?

Being able to offer a compelling online experience to buyers who are outside the market enables us to create immediate, lasting emotional connections to our listings because they can experience it as though they were really there. The 3D images are easy to share, so anyone with a computer or mobile device can have the open house experience from anywhere.

For more information or to tour one of our listings in 3D, visit www.lizmoore.com/VR.

 

Tags: careers, buyer, seller