The Liz Moore Market Watch Blog

By: Lauren Cummings

Plan your weekend trip to Virginia’s Peninsula with a thought-out itinerary from local insiders. We love sharing the beauty of our hometown, and we are so excited to show you why we love where we live!

Book Your Stay

Book your stay at one of our most-trusted favorites.

The Lodge at Kiln Creek is an upscale boutique hotel and resort that offers luxury and comfort. It is conveniently located in Newport News and is on the border of York County. You will be in proximity to various attractions and restaurants – more than likely, what you have planned for the weekend will be within a 20-minute drive from the resort.

For a great location on Yorktown Beach, book your stay at Yorktown Beach Hotel. You will be staying on the water with a beautiful view and will be within walking distance of all the restaurants and attractions Yorktown Beach and Yorktown Battlefield has to offer.

Rise & Shine

Start your day with a morning stroll before you refuel at a local coffee and brunch spot.

The Noland Trail is a beautiful lakeside walking trail. You will likely see local wildlife that live peacefully in the water and nearby woodlands – birds, turtles, and even deer may be spotted! The full trail is 5 miles long and is divided into shorter trails if you are looking for a shorter morning stroll.

Find which path best suits your interests at marinersmuseum.org/park/noland-trail/

Mobjack Coffee Roasters and Petite Café is located in the heart of Historic Yorktown Village. If you’re staying in Yorktown, this is the place to go for a coffee in the morning! The charming coffee spot serves treats and sweets, imported roasts, and also offers coffee beans for purchase if you find that you would like to take a piece of Yorktown home with you.

If you are staying in Newport News, it’s worth stopping by Café Full Circle. This coffee and breakfast spot offers locally roasted coffee, brunch all day, and pressed juice and smoothies. It has a clean, calming atmosphere and has something for everyone.

What to Do and Where to Go

There is something for everyone to enjoy on the Peninsula - all within a 20-minute drive from your resort.

As one point of the Historic Triangle, the Yorktown Battlefield is full of historical sights. It is nestled along the York River and is a great spot to spend the day on the water. Have lunch at Yorktown Pub, Waterstreet Grill, or Carrot Tree Kitchen. For dessert, Ben and Jerry’s is conveniently located between these dining spots. In the warm seasons, there are special themed markets to browse and shop from 8:00 am to 12:00 pm on Saturdays.

Check which market is scheduled for your visit: visityorktown.org/225/Market-Days

Hampton Coliseum is a multipurpose arena, hosting a variety of shows and events. It is worth checking their website to see which shows are offered during your visit! There are a variety of shows that are booked at the Hampton Coliseum, including the popular Hampton Jazz Festival.

Check out which events are scheduled during your stay at hamptoncoliseum.org/events.

The Virginia Living Museum is a great spot for a fun date or a day for the family. This museum is a sanctuary for some of Virginia’s precious wildlife such as otters, foxes, coyotes, raccoons, bobcats, deer, and the endangered red wolves. There are a variety of species to observe and discover – amphibians, birds, reptiles, and more!

Plan your visit: thevlm.org/your-visit/

Explore space at the Virginia Air & Space Science Center, also serving as the visitors center for NASA’s Langley Research Center and Langley Air Force Base. The kids are sure to have a fun time with the hands-on exhibits, and those of all ages that love aircraft history are in for a treat! The museum is also home to the IMAX theater, offering a variety of shows that range from educational to pure entertainment.

Purchase your tickets here: https://vasc.org/tickets/

Farmers Markets

Take a piece of the peninsula home with you by visiting one of our local farmers markets!

The Farmers Market in Hilton Village, Newport News is year-round and offers a variety of local vendors. Listen to live music and browse locally grown produce, flowers, handmade items, and so much more! You will feel the strong sense of community while attending and will more than likely find something you love to bring home with you. Stop by during your stay from 9-12 pm on Saturday.

In addition to the special markets in Yorktown, the Yorktown
Market Days opens on Saturdays April 8^th to Sept. 30^th from 8-12 pm, and Oct. 1 to Nov. 28^th from 9-12 pm. Shop for seasonal produce, fresh seafood, handmade items, and enjoy live entertainment from local artists.

Wine & Dine

Sipping on local wines and exploring new flavors – what could be better for a wine lover?

Vintner’s Cellar Winery of Yorktown offers personal wine events and tastings. The urban winery is a destination in Yorktown to not only taste local fruit-fusion wines, but also learn about winemaking and custom wines. The winery takes reservations for daily tasting events, so check their website and RSVP for a personalized wine-tasting experience.

You can RSVP here: vintnerscellaryorktown.com/events

The family-owned Hampton Roads Winery is in the beautiful rural area of Elberon, just south of Surry, across the James River from Jamestown. The peaceful and secluded winery is a destination for wine tasters and those who are seeking a beautiful view. The tasting bar is open from 11:30 am to 6:00 pm, Thursday through Monday.

Check their website to see if they are hosting a sip and paint class during your visit!

hamptonroadswinery.com

Good Eats

There are plenty of great spots to eat in Hampton Roads, but we have listed a few of our favorites to help you narrow down your choices.

Just over the James River Bridge towards Gloucester, York River Oyster Company offers a beautiful view on the riverside and a menu providing seafood options and American dishes. Their mac and cheese egg rolls are a popular choice or try their fresh oysters with a cold beer on tap. It is worth planning your visit during the sunset with a table on the outside patio.

Fin Seafood is in William Styron Square in Port Warwick, offering seasonal, organic ingredients. Chef Kenny Sloane described the menu as “refined yet robust”. The exciting menu extends to the cocktail options. The exceptional service will prove to offer a catered experience during your meal. If you would like to enjoy live entertainment, sit out on the patio with glowing lanterns that offer a superior ambiance.

Along with the southern atmosphere, this County Grill & Smokehouse serves some of the best ribs and barbeque around! The savory sides, corn bread, and drink specials make this a destination for locals and visitors alike. You won’t leave hungry!

Nightlife

The day hasn’t ended yet! Try out some of our trusted spots for a drink and live entertainment.

Cozzy’s Comedy Club and Tavern is a memorable destination for a night out. Order a delicious meal and enjoy a beverage with live entertainment and stand-up comedy. The comedians put on a great show, and the food is great too!

To buy tickets, visit: https://venue-cozzys-comedy-club-490.seatengine.cloud/events

Tradition Brewing was the first brewery to be established in Newport News and has a reputation as being a local beer destination. Have a drink and relax! Draft beers are offered seasonally, however there are year-round beers that stay consistent. Some year-round draft beers worth mentioning are the Blood Orange Gose, Red Willie, and Tradition Honey Brown Ale.

A team of agents from the Liz Moore & Associates Richmond office spent a day volunteering with the Richmond Metropolitan Habitat for Humanity's Women Build program by helping hang drywall at Habitat two homes.

Habitat for Humanity’s Women Build program brings together women from all walks of life to address the housing crisis facing millions of women and children worldwide. In the last two years, Women Build has engaged more than 300 ladies in building and raised more than $100,000 for local projects! 

Women Build is unique to other build opportunities in that ladies also pay a registration donation that supports the fundraising goal for that build project. 

Click here to join Women Build 2023.

Contact Information:
Liz Moore
President, Liz Moore & Associates
757-645-4106
liz@lizmoore.com 

Release Date:
May 15, 2023

Liz Moore & Associates Holds Charity Golf Tournament and Beer Release to Benefit Children’s Hospital of the King’s Daughters

Liz Moore & Associates held their first ever Charity Golf Tournament as part of their year long 20^th Anniversary celebration on Wednesday, May 3^rd at Williamsburg National. Over $36,000 was raised for the Children’s Hospital of the King’s Daughters.

“We are absolutely thrilled with the success of our very first charity tournament; so many of the golfers, as well as our agents, have had incredibly positive experiences with CHKD – we are blessed to have them in our community,” says Liz Moore.

Liz Moore & Associates also teamed up with the Virginia Beer Company to release a 20^th Anniversary Commemorative Beer to have available at the golf tournament, as well as at the private beer release party the night before. What If?, the citra hazy IPA, is named after the very first marketing campaign Liz Moore ran when the company opened. This initial campaign challenged the status quo of listing a home and asked “What If” your agent was able to take away some of the stress in selling. Liz Moore & Associates prides itself on its “No Surprises” program that offers a home inspection, staging consultation, and appraisal all before the home is even listed so sellers can get ahead of any surprises that may occur in the selling process.

“We are so excited to announce our collaboration with Va Beer Company, who crafted a special brew for us called What If? We are grateful to them for their generosity and support of our mission. Every pint of What If? sold will help us donate to CHKD, a local charity that provides medical care and services to children in need. Cheers to Va Beer Company, CHKD, and another 20 years of asking What If?” says Jake Evans, Director of Operations for Liz Moore and Associates.

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The Liz Moore & Associates Property Management Department recently hosted a Cinco de Mayo Potluck with a Purpose to raise money for the SPCA.

Taco, margaritas, and more were served for a cash donation. In just a few hours, they raised more than $880 for this great cause.

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.

Welcome to the 2nd quarter 2023 edition of Market Talk! 

My goal is to walk through what’s happening in the market, and bring some clarity to those of you who are making real estate decisions this Spring and Summer.

The 4th quarter of 2022 saw a sharp rise in interest rates which cooled the frenzied housing market considerably. This was the result of the Fed’s rapid hikes to the federal funds rate in the final months of last year in an effort to halt inflation.

Rates doubled, which translated to a 38% increase in a typical monthly payment for a home buyer, which in turn caused a large number of buyers to put the brakes on their home searches.

As a result, we began 2023 with a much different temperature in the market than most of last year. The buyers who remained in the market in January were skittish, and frustrated by the rapid rate acceleration.

For the first time since before the pandemic, we began to see buyers offering less than asking price, and in some cases even getting seller concessions. Home inspections and appraisals became the 
norm again, and buyers found themselves in a better bargaining position to ask sellers to make repairs than they had been in a long time.

Richmond:

In February in our Richmond office, offers accepted for less than asking or at asking price were 62% of the market, while bidding wars were only happening on approximately 38% of the listings.

Just as buyers were beginning to feel that the market pendulum was swinging back to their favor, things heated up again in March. We saw a sharp rise in multiple offers as it became clear that the number of buyers was still outpacing the inventory.

By the time our March report was published, offers over the asking price had increased to 50% of all sales!

Peninsula:

In February in our Peninsula office, for example, offers accepted for less than asking or at asking price were 59% of the market, while bidding wars were only happening on approximately 39% of the listings.

Just as buyers were beginning to feel that the market pendulum was swinging back to their favor, things heated up again in March. We saw a sharp rise in multiple offers as it became clear that the number of buyers was still outpacing the inventory.

By the time our March report was published, offers over the asking price dipped just a bit to 36%.

Williamsburg

In February in our Williamsburg office, for example, offers accepted less than asking price climbed to over 50% of the market, while bidding wars were only happening on approximately 25% of the listings.

Just as buyers were beginning to feel that the market pendulum was swinging back to their favor, things heated up again in March. We saw a sharp rise in multiple offers as it became clear that the number of buyers was still outpacing the inventory.

By the time our March report was published, offers over the asking price doubled in 30 days, representing 50% of all sales.

Northern Neck

By the time our March report was published, offers over the asking price dipped just a bit to 36%.

It seems that the market is delivering mixed signals right now, but I believe what is really happening is that there are several different markets colliding at the same time:

• For listings that are well priced and in good condition, there are still fewer homes available than there are buyers who need or want to move, and so that segment of the market is still pretty “hot,” with multiple offers and sellers enjoying the upper hand.

• For those sellers who have jumped into the market at the last minute (fearing that they’ve missed the gravy train of 2021 and early 2022, and accordingly pushing the envelope with unrealistic prices), they are experiencing a longer time on the market, and weary buyers pushing back with lower offers containing normal contingencies.

Markets are also experiencing different activity levels based on price point and location, which can seem confusing. Now, more than ever, it’s important to have a seasoned agent advising you on negotiating strategies whether you’re a buyer or a seller (or both).

Thinking about making a move?  Let us guide you through these market conditions!

Contact Information:

 Liz Moore
President, Liz Moore & Associates
757-645-4106
liz@lizmoore.com

Release Date:
April 13, 2023

Liz Moore & Associates Ranked by RealTrends 500 Among Nation’s Best Brokerages 

Liz Moore & Associates is honored to be included in the Real Trends 500, a ranking of power brokers in the United States. Liz Moore & Associates was ranked #111 among private independent brokerages in the country, and #4 in Virginia, based on 2022 transaction sides. 

“This is an accomplishment we’re very proud of” says Liz Moore, President. “We’re celebrating our 20th anniversary in business this year, and it is a privilege to have had the opportunity to serve over 20,000 clients since we opened in 2003, making us one of the most successful boutique brokerages in the country.”

RealTrends has been ranking the nation’s best brokerages for 34 years. Companies are ranked based on sales volume and transaction sides; the RealTrends 500 represents the top half of one percent of all brokerages in the United States. 

RealTrends is a publishing and communications company considered to be a leading source of analysis and information of the residential real estate industry.

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Is your lease up this Summer?  Timing the end of a rental lease and the purchase of your first home doesn't have to be stressful.  Here's what you need to know.

Start with a local real estate agent who can help you manage your timeline. 

Your agent will help you:

Step 1: Get pre-qualified so you know how much you can comfortably afford.  There is grant money available to help you with down payment and closing costs…ask us more!

Step 2: Start your home search.

Step 3: Find the ideal home for you, and negotiate a contract with terms to suit your budget and your timetable.

Step 4: Love your first home!

If your lease is ending, let one of our agents guide you through the next steps.  Click here to get started!

Liz Moore & Associates will be holding their first Charity Golf Tournament as part of their year long 20^th Anniversary celebration on Wednesday, May 3^rd at Williamsburg National. Registration begins at 7:15 am and a shotgun start will be at 8:30 am.

All proceeds will go to the Children’s Hospital of the King’s Daughters.

The cost to play is $500 per team. Food and drinks are provided. Hit a hole in one and win a car, thanks to Casey Toyota!

 Various sponsorships are available, as well as prizes, raffles, and more.

 “We are very excited about our first ever charity golf tournament! This will be a fun day for a great cause,” said Liz Moore. “We are truly blessed to have a world class facility like CHKD in our community. My son, Grayson, was in the NICU for 3 months after he was born, and we experienced firsthand the incredible care that CHKD provides.”

For more information, or to register and pay online, visit www.lizmoore.com/golf.

Contact Information:

 Liz Moore
President, Liz Moore & Associates
757-645-4106
liz@lizmoore.com 

Release Date:
February 14, 2023

Liz Moore & Associates Cupcake Wars 2023 Raises $20,846 for Charity

The Annual Liz Moore Cupcake Wars Fundraiser was held on February 10, 2023 and close to $21,000 was raised in just three hours, a new company record.