The Liz Moore Market Watch Blog

Liz Moore Agents Host Potluck Event to Benefit Here for the Girls, Inc.

Posted by Lynnette Tully on Tue, Oct 04, 2022 @ 06:47 AM

Contact Information:

 Bob Halloran
Marketing Director, Liz Moore & Associates
(804) 647-6336
bobhalloran@lizmoore.com

Release Date:
October 4, 2022

Liz Moore Agents Host Potluck Event to Benefit Here for the Girls, Inc.

Liz Moore agents Karen Wolons and Jackie Mierle teamed up (with a little help from their friends) to raise money for Here for the Girls, Inc. The event was held on July 28th at Billsburg Brewery in Williamsburg. Food and non-alcoholic drinks were provided for a monetary donation and over $2,000 was raised for Here for the Girls, Inc. in honor of Jackie's fight.

Jackie was diagnosed with Breast Cancer at the age of 30 in 2021. While her oncologists and surgeons were able to tackle the physical aspects of treatment, most of their social and emotional support was geared toward women over 50. She found the support and services she needed from Here for the Girls and while she gears up to raise money to support the organization, she wants to take this opportunity to bring awareness to Breast Cancer under 50, under 40 and even *under 30.*

Liz Moore & Associates’ Potluck with a Purpose lunches are held monthly and are hosted by agents and staff. The host cooks and provides lunch for a cash donation to the cause of their choice.

###

Tags: About

Liz Moore Agents Host Potluck Event Raising Money for Here for the Girls, Inc.

Posted by Lynnette Tully on Tue, Oct 04, 2022 @ 06:41 AM

Here for the Girls-2Liz Moore agents Karen Wolons and Jackie Mierle teamed up (with a little help from their friends) to raise money for Here for the Girls, Inc. The event was held on July 28th at Billsburg Brewery in Williamsburg. Food and non-alcoholic drinks were provided for a monetary donation and over $2,000 was raised for Here for the Girls, Inc. in honor of Jackie's fight.

Jackie was diagnosed with Breast Cancer at the age of 30 in 2021. While her oncologists and surgeons were able to tackle the physical aspects of treatment, most of their social and emotional support was geared toward women over 50. She found the support and services she needed from Here for the Girls and while she gears up to raise money to support the organization, she wants to take this opportunity to bring awareness to Breast Cancer under 50, under 40 and even *under 30.*

Liz Moore & Associates’ Potluck with a Purpose lunches are held monthly and are hosted by agents and staff. The host cooks and provides lunch for a cash donation to the cause of their choice.

Tags: Community, lizlocal-williamsburg-community

Hit the Trails on Virginia's Northern Neck

Posted by Lynnette Tully on Wed, Sep 28, 2022 @ 01:50 PM

nnk trailsThe cooler temps are here to stay (or at least so we hope!) and it's the perfect time to get out and explore the many trails on the Northern Neck of Virginia.  Here are our recommendations for a great day out:

Hughlett Point
Natural Area Preserve Hiking Trail along Chesapeake Bay
Balls Neck Road
Kilmarnock 22482
(804) 225-2303

Belle Isle State Park
Hiking, Biking, and Equestrian Trails
1632 Belle Isle Road
Lancaster 22503
(804) 462-5030

Bush Mill Stream
Natural Area Preserve By Foot or Canoe
Knights Run Road
Heathsville 22473
(804) 786-7951

Holly Point Nature Park
Walking Paths and Kayak Landing
287 Jackson Creek Road
Deltaville 23043
(804) 776-7200

Hickory Hollow Natural Preserve
254-Acre Nature Trail
Regina Road
Lancaster 22503
(804) 786-7951

 

 

 

Tags: lizlocal-NorthernNeck-livelocal

Interior Design with Pets in Mind

Posted by Lynnette Tully on Fri, Sep 23, 2022 @ 06:56 AM

cat-1By Leslie Pearce

Spending quality time indoors with your pet is one of life’s great enjoyments. With that in mind here are some helpful tips to make sure both you and your pet are as happy inside as outside.

A big question to think about, where are your pets going to sleep? Under the kitchen table? In a dog bed, kennel, sofa or with you? Your pet will appreciate a quiet place and their own bed where they can catch a quick nap before looking for their next adventure.

Animals need plenty of toys to chew on, otherwise the remote and your glasses can be mighty tempting! If you like open windows, make sure your screens are secure. Give your cat an alternative to the couch such as a scratching post.

Waterproof luxury vinyl and tile are the best options for flooring. Buy furniture with pet hair and claws in mind.
Silk, velvet, denim, and woolen fabrics are magnets for animal hair. Leather and its alternatives are good choices. Rugs with non-skid pads are a must for safety. Cats love rubbing against something scratchy or lumpy so AVOID textured walls or embossed wallpaper.

Cats and dogs play and drink in toilets, close lids. Chocolate, avocado, tomatoes, and other tasty snacks can be
harmful to your dog or cat. Keep cords from blinds secure, a dangerous enticement for animals.

Having a well thought out indoor environment for your pet is always a great idea!

Tags: lizlocal-NorthernNeck-realestate, lizlocal-richmond-realestate, lizlocal-williamsburg-realestate, lizlocal-peninsula-realestate

Liz Moore & Associates Launches New Report to Help Makes Sense of the Real Estate Market in Virginia

Posted by Lynnette Tully on Wed, Sep 21, 2022 @ 06:59 AM

Contact Information:

Bob Halloran
Marketing Director, Liz Moore & Associates
(804) 647-6336
bobhalloran@lizmoore.com

Release Date:
September 16, 2022

Liz Moore & Associates Launches New Report to Help Makes Sense of the Real Estate Market in Virginia

Liz Moore & Associates launches “Market Talk”, a report designed to help make sense of today’s real estate market. Written by Liz Moore, President of Liz Moore & Associates, Liz covers what’s happening in the local real estate market and provides insight for sellers, buyers and renters.

  1. Have sellers missed their opportunity? “No they haven’t” said Liz Moore, President and Founder of Liz Moore & Associates. “They might get 2 offers instead of 17 but interest rates are still low compared to their historical average. Now is still a good time to sell.”
  2. According to Liz, “Buyers will start to see more normal terms, contingencies will be coming back and there is less concern about overpaying. Now is a good time to consider that “move up”.”
  3. Regarding renting versus owning, “Rents rise with inflation. Owning your home fixes your monthly payment and provides the opportunity to build equity over the long-term.”

The free report is available at https://www.lizmoore.com/blog/.

Liz Moore & Associates is a boutique real estate agency with more than 150 agents and staff in 5 locations throughout Virginia.

 

###

Tags: About

Market Talk with Liz: Third Quarter 2022

Posted by Liz Moore on Wed, Sep 14, 2022 @ 01:30 PM

MarketTalk_3Q2022_PPT-1Welcome to Market Talk!

I'm Liz Moore, President of Liz Moore & Associates, and today we’re going to talk about what’s happening in the local real estate market. It has been a crazy few years, that’s for sure…and folks have a lot of questions. So, we’re going to tackle the big ones today: if you’re a seller, have you missed your opportunity? And, if you’re a buyer, how do you avoid over-paying in this crazy market?

My goal is to bring some clarity about what’s really happening in the market, and how you can leverage that to accomplish your personal real estate goals.

So, let’s get to it!

Lots of people are concerned that we are headed for another real estate bubble. It’s hard to turn on the news and not hear someone talking about the housing market getting ready to crash.

My personal opinion is that is not going to happen. To be clear, the market is stabilizing, and we’re experiencing that right now. I think it is safe to say that the market has “peaked” and we’ll come back to what that means for sellers and for buyers.

However, stabilizing or correcting does not equal a market crash or a bubble bursting, like it did in 2008. The fundamentals in the housing market are VERY different than they were in 2008.

First of all, the housing inventory situation is totally different. In 2008, we had 8+ months of inventory or, “supply”. Now, we have less than a month.

MarketTalk_3Q2022_PPT-2

Next, one of the primary reasons for the 2008 crash was ridiculously lax lending standards – mortgage companies would literally approve a mortgage for anyone who could fog a mirror. Today, the opposite is true – mortgage underwriters are extremely conservative making sure that borrowers can afford the monthly payments they are applying for.

MarketTalk_3Q2022_PPT-3

Lastly, people have more equity than ever, and even if they faced foreclosure, they would be able to sell.

MarketTalk_3Q2022_PPT-4

What all that means is that people are in a far better position to weather a tough economic period than they were 15 years ago. t’s pretty clear that we’re going to face some serious inflation in the coming months, but that is not likely to cause a rash of foreclosures. Even for those folks that are unable to afford their
current living situation, there is plenty of demand and equity to give them enough room to sell without facing foreclosure.

Ok, Liz, if the real estate market isn’t going to crash, then what *is* going to happen next?

Well, it’s already happening. The market is beginning to stabilize. This is happening for a couple of reasons:

The recent increase in interest rates has taken some buyers out of the market. Each percentage point of increase translates to a loss of buying power of approximately 10%.

MarketTalk_3Q2022_PPT-5

Prices were escalating so quickly that buyers have begun to put the brakes on. At Liz Moore & Associates, one of the trends we follow very carefully is what we call an over asking report. The percentage of listings that are selling over the asking price remains high even after a slight dip.

MarketTalk_3Q2022_PPT-6

Let’s look at interest rates for a moment. This graph shows rates since 1971. Over the last 50 years, rates have averaged 7.77%. So, we still have a ways to go before we reach the average.

MarketTalk_3Q2022_PPT-7

As demand slows, we’re seeing fewer bidding wars (although there are still some), and as a result sales prices are not being driven up to the extreme levels of a few months ago.

What Does That Mean For Sellers?

So, does that mean that sellers have missed the boat? Not at all. Although they may have missed the crazy frenzy at the height of the market, a listing that’s in good shape and well-priced can still expect to sell relatively quickly and probably for full price, or at least close to it. Maybe only 2 offers to choose from rather than 17.

As the market continues to stabilize, we will see a return to more normal negotiating terms: no longer will buyers be forced to waive appraisals and home inspections if they want a house. We’re beginning to see home sale contingencies again.

My advice to sellers is this: If you are contemplating a move, you would be wise to do it sooner rather than later.

What Does the Changing Market Mean for Buyers?

Buyers have had a really rough go of it for the past 2 years. And, because many buyers are actually sellers on the other side of the transaction and vice versa, it will actually finally be a good time to consider moving up  Over the past year, many sellers stayed on the sideline because they didn’t want to get into the frenzy on the other end.

Over-paying has been a major buyer concern given the market dynamics of the past few years. Let’s look at appreciation trends and see what they really mean:

MarketTalk_3Q2022_PPT-8

The wild card here is that we can’t really forecast what appreciation is going to do; all we can do is look at historical averages and make our best guess 

Which is why when we’re counseling buyers, we encourage
them not only to look at their house as an investment or “asset,” but also as their HOME. Buyers need to make a choice given their options. For instance, if the choice is between renting and owning, you need to consider that rents rise with inflation. And so, although you may be paying a higher interest rate right now, your monthly housing cost will be fixed, as opposed to subject to 3-5% annual rent increases.

Make your best offer, and as long as you plan to be in your new home long enough, appreciation is likely to offset what you may have to over pay. Your REALTOR® can review appreciation trends specific to your neighborhood with you.

Contact us to learn what this data means for your specific situation!

 

 

 

Tags: Home Sale Statistics & Trends, MarketTalk

Best Places to Golf in Richmond, Virginia

Posted by Lynnette Tully on Thu, Sep 08, 2022 @ 06:42 AM

RVA golfLooking to play a round of golf in Richmond? Here are our recommendations for the best spots:

Independence Golf Club
Recognized by Golf Digest as one of Richmond’s top courses, located on a beautiful estate with an event venue.
https://independencegolfclub.com

Providence Golf Club
Designed by one of the best golf course architects in the world and rated the highest of any golf club in VA.
www.providencegolfclub.com/

 First Tee of Greater Richmond
Select from three outstanding courses and support First Tee’s initiatives for RVA youth.
www.firstteegreaterrichmond.org/

 

 

Tags: lizlocal-richmond-livelocal

Liz Moore & Associates Potluck with a Purpose Raises over $4,000 for Edmarc

Posted by Lynnette Tully on Mon, Sep 05, 2022 @ 02:55 PM

Contact Information:

Bob Halloran
Marketing Director, Liz Moore & Associates
(804) 647-6336
bobhalloran@lizmoore.com

 Release Date:
August 31, 2022

Liz Moore & Associates Potluck with a Purpose Raises over $4,000 for Edmarc

Jake Evans, Director of Operations for Liz Moore & Associates, and Virginia Payne, Director of the Liz Moore Property Management Division, hosted a "Dog Days of Summer" potluck lunch grilling hotdogs and serving sangria from La Tienda. $4,026 was raised, a new Liz Moore potluck record, and all proceeds were donated to Edmarc, an organization expanding to the Williamsburg/Gloucester area.

After 44 years of serving the Hampton Roads area, Edmarc has an opportunity to expand to Williamsburg, Gloucester, Mathews, and the surrounding counties, doubling their capacity to help children and families who are in critical need of their services.

Edmarc was the first hospice in the nation designed for children and has been serving the Hampton Roads community for over 40 years. Nurses, social workers, and volunteers for Edmarc currently serve 70-80 children in its clinical program and more than 160 families in its bereavement program.

Liz Moore & Associates’ Potluck with a Purpose lunches are held monthly and are hosted by agents and staff. The host cooks and provides lunch for a cash donation to the cause of their choice.

 

###

 

Tags: About

Liz Moore & Associates Partners with Ameris Bank to Offer Down Payment Assistance to First-Time Home Buyers

Posted by Lynnette Tully on Wed, Aug 31, 2022 @ 07:02 AM

Contact Information:

 Bob Halloran
Marketing Director, Liz Moore & Associates
(804) 647-6336
bobhalloran@lizmoore.com

Release Date:
August 30, 2022

Liz Moore & Associates Partners with Ameris Bank to Offer Down Payment Assistance to First-Time Home Buyers

Ameris Bank, one of Liz Moore & Associates recommended lender partners, is offering eligible first-time homebuyers up to $12,500 toward a down payment and closing costs through the Ameris Down Payment Grant Program.

Eligible first-time homebuyers can receive up to 4% of the purchase price, with a maximum of $12,500, to use toward a down payment and closing costs. May be combined with other federal, state and local grant programs.

Includes homebuyer education to help first-time buyers prepare for homeownership.

To find out how you can qualify for down payment assistance, visit www.lizmoore.com/downpayment.

###

Tags: About

Potluck with a Purpose Raises over $4,000 for Edmarc

Posted by Lynnette Tully on Thu, Aug 25, 2022 @ 01:59 PM

hot dog potluck 3 3Jake Evans, Director of Operations for Liz Moore & Associates, and Virginia Payne, Director of the Liz Moore Property Management Division, hosted last week's "Dog Days of Summer" potluck lunch grilling hotdogs and serving sangria from La Tienda. Over $4,026 was raised, a new potluck record, and all proceeds were donated to Edmarc, an organization expanding to the Williamsburg/Gloucester area.

After 44 years of serving the Hampton Roads area, Edmarc has an opportunity to expand to Williamsburg, Gloucester, Mathews, and the surrounding counties, doubling their capacity to help children and families who are in critical need of their services.

Edmarc was the first hospice in the nation designed for children and has been serving the Hampton Roads community for over 40 years. Nurses, social workers, and volunteers for Edmarc currently serve 70-80 children in its clinical program and more than 160 families in its bereavement program.

 

 

Tags: Community, lizlocal-williamsburg-community