The Liz Moore Market Watch Blog

Liz Moore Agents Complete the Hampton Home Repair Blitz

Posted by Lynnette Tully on Wed, May 10, 2017 @ 03:26 PM

IMG_6531.jpgVarious organizations, including Habitat for Humanity, Hampton Redevelopment and Housing Authority, and the City of Hampton, came together on Saturday, May 6, 2017 to complete the Hampton Home Repair Blitz. Six homeowners in the North Phoebus area had homes that received exterior repairs including painting, fascia/wooden trim replacement, railing additions, storm doors, gutter work, power washing, light landscaping and more. Interior painting, minor repairs and landscaping were also done to beautify Bryan and Moton Elementary Schools. 

Our very own Patrick Pauls masterfully built an impressive wooden platform with railing to aid a homeowner who was unable to go out the back door due to a disability and deteriorating steps.  Kaera Mims was the team lead and Nadia Anac was not only a great help with her painting skills, but she brought some friends who were so helpful! 

Hampton Home Repair Blitz...just another reason why we love where we live!

 

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Tags: Hampton, Locals - 101 Reasons

The Best Brunch Spots In Virginia - Richmond and Hampton Made the List!

Posted by Lynnette Tully on Fri, Feb 24, 2017 @ 02:53 PM

Pavilion_cafe_breakfast.jpgVirginia.org recently published a list of the 13 best brunch spots in Virginia.  The list contains spots known for quality food, service, atmosphere...and maybe most importantly, quality cocktails!  Restaurants from Northern Virginia down to Virginia Beach are known to be crowd pleasers, and a few are even located in our backyard!

Venture Kitchen & Bar—Hampton

Sunday 10am-2pm

At Venture Kitchen & Bar, brunch is serious business. Not only does the restaurant have a regular brunch menu that is reliably tasty, but they also have a rotating menu that changes every week so that you can try something new. When it comes to Sunday brunch cocktails, you’ll find some “old faithfuls” like mimosas, but there are many intriguing options as well, like the French 75 and the Queen’s Cousin.

Local Favorites: Fried Eggs Benedict, Orange Blossom Cocktail, Corned Beef Hash

Millie’s Diner—Richmond

Saturday 10am-3pm, Sunday 9am-3pm

This popular Richmond spot has been around for over 25 years, but their tasty brunch menu never gets old. On Saturday and Sunday mornings, Richmond residents flock to Millie’s Diner for one of the best brunches in the city. Although the wait can sometimes be over an hour to get in, the food is more than worth it. Plus, the bartender will fix you up with mimosas or Bloody Marys that will make the time seem to fly by.

Local Favorites: Devil’s Mess, Huevos Rancheros

The Jefferson Hotel—Richmond

Sunday 10:30am-1:30pm

If you’re planning on eating brunch at The Jefferson Hotel, make sure you are ready to “tuck in”, as they say. Sunday Champagne Brunch at this historic Richmond location has seemingly endless tables of some of the finest food imaginable, including a platter of smoked salmon and a full seafood raw bar, an impressive ham carved to order, an omelet station manned by several chefs, a lavish dessert display, and so much more (Including bottomless mimosas and coffee!). We could go on and on about this brunch, but you need to experience it yourself to understand why every Richmonder will recommend The Jefferson as a must-visit brunch destination.

 Local Favorites: Raw Seafood Bar, Omelet Station

Next time you find yourself asking, "where should we eat brunch", consider one of these local favorites!

Great restaurants...just another reason why we Love Where We Live!!!

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Tags: Hampton, Locals - 101 Reasons, Richmond

Liz's Crystal Ball for the Peninsula Housing Market

Posted by Liz Moore on Tue, Feb 14, 2017 @ 02:50 PM

crystal.jpg2016 was a solid year for local real estate. Here on the Peninsula, closed sales finished up
9.5% for the year, with pending sales up just under 10% in December, which is activity higher
than we typically see during the holidays. The New Year has started off with a bang, which I
believe is indicative of another strong year for our market.

We are entering 2017 with only slightly over 5 months of active inventory, and homes selling,
on average, in only 97 days. That is good news for sellers who are priced properly and in good
condition. The exception here is the luxury market, where sellers need to be significantly
more patient – there is currently 10 months of inventory priced at $750,000 and up.
Prices remained remarkably steady during the past 12 months, with the median sales price on
the Peninsula hovering right around $180,000 for most of the year.

Here is what I see in the coming 12 months:

Consumer confidence has been our biggest challenge in recent years, especially
during the contentious presidential election. With that behind us, activity levels have
definitely regained momentum.

My expectation is that there are many sellers who have been waiting for more favorable
market conditions to list – and that should begin to happen as we move toward Spring.
We saw a 30% jump in new listings in December, signaling that wise sellers recognize the
importance of beating the competition to the Spring market.

As prices begin an inevitable rise, consumers will realize that moves need to be made ASAP
in order to take advantage of a 7 year streak of historically low rates and home values. It’s
important to note that the market can shift quickly, and the pendulum is likely to continue its
swing toward lower inventory levels, creating a more competitive environment than we’ve seen
in recent years.

Interest rates will begin a slow and steady climb this year.
Interest rates began their inevitable ascent in the final quarter of 2016, and we are expecting at least 2 more increases in 2017, according to our friends in the mortgage industry. 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.

We recently got some great news for home buyers as FHA lowered mortgage insurance premiums, and Fannie Mae and Freddie Mac are now offering low down payment mortgage products (3%) in order to compete with their government counterparts. That, combined with underwriting restrictions which are finally beginning to ease, should encourage first time buyer activity that has been priced out of the market.

Prices will finally begin to show improvement in many neighborhoods.
Prices are neighborhood specific, and some areas are definitely improving faster than others. I expect the market to continue to trend toward more normal appreciation rates in 2017 and beyond.

My overall message here remains the same as last year: 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.

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 for REIN Area 101-113 residential home sales in 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, Hampton, York County, Newport News, Poquoson

Help Us Support the Hampton Christmas Store

Posted by Lynnette Tully on Tue, Nov 22, 2016 @ 02:01 PM

Hampton Store.jpgLiz Moore & Associates is helping to give back to the parents and children of the community this year by sponsoring the The Hampton Christmas Store. Hampton Pastor, "Santa" Steve Edwards, started the store a few years ago to help families in need each Christmas.

Parents can pay $3 per child and pick out $80-$100 worth of gifts from the Hampton Christmas Store. While the parents shop for their children, the children get to shop for their parents, for free.

We’re accepting new, unwrapped toys and new unwrapped adult goods (cosmetics, toiletries, picture frames, scarves, hats, gloves, candles, etc.) from now until Friday, December 15th in our Newport News Office (11801 Canon Blvd.).  

Email Peggy Todd at peggytodd@lizmoore.com if you have any questions.

Just another reason why we love where we live! 

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Tags: Hampton, Locals - 101 Reasons, Community

Latest Census Estimates Show Population Changes on Peninsula and in Williamsburg

Posted by Lynnette Tully on Mon, Jun 06, 2016 @ 02:41 PM

up-arrow.jpgThe U.S. Census Bureau released its population estimates from April 2015 - July 2015 for much of Virginia, including many of our local cities and counties.  

Williamsburg shows to be the fastest-growing community in Hampton Roads, according to the Census estimates, with an estimated 10.1% increase in residents to 15,052.  The state's average growth rate is 4.8%. 

James City County grew by 5,746 people between 2010 and 2015, according to Census data, which is up 8.5% from James City County's official 2010 census.

Hampton lost 1,056 residents between 2010 and 2015, while Poquoson lost 98 and Matthews lost 114.

Newport News, which is the largest city on the Peninsula, continues to grow and added 1,474 residents between 2010 and 2015.  York County grew by 2,646 and Gloucester by 285.

Virginia added added more than 381,000 people to its state between 2010 and 2015 - bringing the overall population estimate to around 8.3 million, which makes it the 12th largest state in the union.  

(Source: Virginia Gazette article, April 2, 2016)

If you’re a seller who has been wondering if it might finally be time to sell your home in Williamsburg or on the Peninsula, 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, Home Sale Statistics & Trends, Hampton, York County, Newport News, Poquoson, Williamsburg

The Liz Moore Summer Open House Extravaganza is Back!

Posted by Lynnette Tully on Thu, May 12, 2016 @ 12:28 PM

Calling all house hunters!  Visit a Liz Moore open house between May 14th and September 15th, 2016 and you'll be entered into a drawing to win some amazing prizes.  

LMA_open-web-banner.jpg

House hunters can register for the drawing at every Liz Moore open house.  The more you visit, the better your chances are of winning!
 
Click below for a list of open houses and to view complete contest rules.
 
Summer Open House Extravaganza Participating Properties
 
 

Tags: Buyers, Sellers, Hampton, New Kent, York County, Newport News, Poquoson, New Homes, Home Page, Williamsburg

Inventory Drops to a Five Month Supply on the Peninsula

Posted by Liz Moore on Fri, May 06, 2016 @ 03:09 PM

Pen.jpg

A steadily declining supply of inventory has led to a robust Spring market on the Virginia Peninsula (REIN MLS areas 101-112).

Click to Find Out How Much Your Home is Worth

The current market has a 5 month supply of inventory (down from 7.3 months in January), which has dropped below the balanced market of a 6 months supply, indicating a trend favoring sellers.  Pending sales are up 21% for the first quarter, as compared to the first quarter of 2015.  Liz Moore & Associates Williamsburg office celebrated a record March, and is pacing to set yet another record this month!  What does that mean for you?  It’s a great time to sell!

The first step in pricing your home right is finding a professional real estate agent who can help you do just that.  Email us at concierge@lizmoore.com or click below for a complementary market analysis on your home.

How Much is My Home Worth?

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Tags: Buyers, Sellers, Home Sale Statistics & Trends, Hampton, York County, Newport News, Poquoson

Bluebird Gap Farm - Nestled on 60 Acres in the Heart of Hampton

Posted by Lynnette Tully on Tue, Mar 15, 2016 @ 02:49 PM

We are just days away from the start of Spring, so why not begin planning your outdoor activities now? Bluebird Gap Farm Hampton

Nestled on 60 acres in the heart of Hampton, Virginia, Bluebird Gap Farm is a family-friendly day trip that is a rare find in an urban environment.  In addition to the beloved ducks, there are 150 domestic and wild animals for your kids to interact with.  Bring your quarters, so you can get animal feed from the vending machines for a more “interactive” experience. Or you may want to plan a picnic, to enjoy the scenic wildlife and surroundings.  There is also a playground, a nature trail, and a stage for special events and activities.

Click here for more information. 

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

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Tags: Hampton, Locals - 101 Reasons

St. Patty's Open House Weekend on The Peninsula and in Williamsburg

Posted by Lynnette Tully on Mon, Mar 14, 2016 @ 10:07 AM

No matter the type of home or area you are looking for, we have something for everyone!!lma_stpats-logo-1.jpg

For those looking to get lucky with a brand new home in Williamsburg, visit our new homes parade Saturday and Sunday from 1-4pm.  Builders will be on hand at many of the homes on Sunday to answer your questions.  For a list of participating properties, download our brochure below.  

Download our New Homes Parade Brochure

Are you looking for a pot of gold on The Peninsula?  Check out our open houses in Newport News, Hampton, Yorktown and Poquoson at www.lizmoore.com/openhouses.  Register to win a $100 gift card to Park Lane Tavern at each resale open house you visit.  Click below for a list of participating properties and open house times.

View a List of Open Houses

 

Tags: Buyers, Hampton, York County, Newport News, Poquoson, New Homes, Williamsburg

Closed Sales Up 9.5% in October on the Virginia Peninsula

Posted by Lynnette Tully on Fri, Nov 20, 2015 @ 02:33 PM

The number of closed sales continues to rise on the Peninsula forecasting a strong late Fall market.  What is currently going on in the real estate market?LMA_info-nn-10-15-1.jpg

  • Months Supply of Inventory - 6.9
    Six months of inventory is considered a balanced market.  
  • Current Median Sold Price - up slightly to $174,000
     
  • % of Sold Price to List Price - 97.66%
     
  • Average Days on Market - down to 90
     
  • Closed Sales - up 9.5%

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, Hampton, York County, Newport News, Poquoson