The Liz Moore Market Watch Blog

On January 1, 1863, President Lincoln declared “that all persons held as slaves within said designated States, and parts of States, are, and henceforward shall be free.” Lincoln sincerely believed this to be “to be an act of justice” and “warranted by the Constitution,” invoking “the considerate judgment of mankind, and the gracious favor of Almighty God.” But his order was not delivered in Texas until June 19, 1865 – some two and a half years later – when Union troops arrived to take control of the state. 

                                                                                              (image source: patch.com)

Now generally referred to as “Juneteenth” for the day General Granger read the order publicly, it is celebrated every June 19 to commemorate the emancipation.  Two days ago, in Executive Order 66, Gov. Ralph Northam encouraged “all Virginians to think about the significance of this day. It was significant in 1865 because it marked the end of human bondage for African Americans in the United States. But our recognition of Juneteenth now signifies that we understand its importance to all Americans. Juneteenth is not African American history. It is American history. It is as woven into the fabric of our great country as is the celebration of independence on July 4th . And it should be so celebrated.”

You can read the history here, the full transcript of the Emancipation Proclamation here, and Gov. Northam’s order here.

So, happy Juneteenth everyone, especially to our African American agents, clients, and colleagues!

Your pets are beloved members of your family and you want to make sure they receive the very best medical care. But how do you choose the right vet for your pet? We've outlined some important considerations below when selecting a veterinary practice for your fur baby.

Communication is Key
Ask your friends, family, and neighbors who they recommend. People with first-hand experience are great sources of information and someone who has had a great experience is eager to sing the praises of their veterinarian.

Responsive
Call potential veterinary practices: Do they answer the phone, or if not, do they return your call promptly? Is someone available to answer your questions? Can you easily get an appointment? Are you able to call and check on your pet frequently if they are having a procedure? You want to choose an office that communicates well with their clients.

Philosophies
Ask the veterinarian about their philosophies on pet health care. A few topics to discuss are euthanasia, cancer care, chronic disease planning, and spaying and neutering. Do they mesh with your own? Having a care giver with like­minded philosophies will help when faced with difficult decisions. Observe how they react and respond to your specific questions. Does this seem like someone with whom you'll be able to communicate and trust?

Take a Tour
A good office or hospital is proud of their facility and should be willing to give prospective clients a tour of their facility. Check the cleanliness of exam rooms, check out their medical equipment, do they have access to x-ray, ultrasound, dentistry, labs, and the like? Also, be sure to inquire about health care specific to your pet and any special care they might require. 

Interaction
Introduce your pet to your potential veterinarian and their staff long before your first appointment. Observe how everyone interacts with you and your pet. Are they welcoming, calm, and attentive to you both? Observe how your pet responds to them as well. Choosing a warm and caring practice can soothe a stressful situation for your pet.

Location and Hours
This isn't as important as good, solid care, but convenience is a factor to consider. Choose a vet you can access in a reasonable amount of time, and with hours chat work with your schedule. Choosing a wonderful practice that you can never get to won't do anyone any good.

Busier Can Mean Better
Don't be put off by a busy waiting area. A crowded, fast paced waiting area can be signs of a great, well-liked, hardworking practice.

Money Matters
Vet bills can add up quickly. Be sure to ask about costs of routine care like office visits and vaccines and ask about emergency services like x-ray.

Come out to Riverwalk Landing in Yorktown for a five week concert series featuring local artists who play jazz, big band and country. Don’t forget to bring blankets and chairs, and coolers are permitted also. The first concerts is Friday, October 4^th from 6:30PM to 8:30PM at 331 Water Street Yorktown, VA 23690. For more information call (757)-890-3500 or click here

Did you know that the week of Sept. 22 is the best time to buy a home in the U.S., according to data released by realtor.com? Forty-one out of 53 markets in the U.S. reported that buyers see significantly less competition and greater inventory during this time.

"As summer winds down and kids return to school, many families hit pause on their home search and wait until the next season to start again. With dramatically less competition, persistent buyers will feel the scales tip in their favor as eager sellers begin to cut their prices in an effort to entice a sale," said George Ratiu, senior economist of realtor.com. "As seasonal inventory builds up and restores itself to more buyer-friendly levels, fall buyers will be in a better position to take advantage of today's low mortgage rates and increased purchasing power."

In general, buyers face 26% less competition across all markets while inventory increases by 6.1% during the first week of September, compared to the average week of the year. For us here in the South, buyers see 26.2% less competition.

As a result, during this “Black Friday” week, 5.8% of listings nationwide see price cuts, making them, on average, 2.4% less expensive than during their peak. This effect is the most noticeable in the West, where homes on the market see an 8.6% reduction—to 4.6% lower than their peak—followed by the Midwest, the South and the Northeast.

If you've been thinking about buying, now could be the perfect time!!  Click here to search available homes for sale.And if you're brand new to the home buying process, or just want to be better educated, download our free Home Buyer's Guide.

Why Tabb?

The much sought-after area of Tabb is known for its fantastic schools, sports teams and charming community, but very few know the story behind the land that is loved so much. One tract of land in particular, home of the new community Smith Farm Estates, tells a story rich in history of a pioneer before her time.

Mary Octavia Smith was born in 1845 and was married to Alexander Tabb in 1871. She bore 3 children and became a widow at a young age, leaving her to raise the children on her own. Looking for an opportunity to provide for her family, she applied to the Federal Government requesting for a post office to be placed in the community she lived in, Smithville. Tabb’s request was granted, and history was forever changed.

She became the first female Post Master for the state in 1893 and remained in office until 1910.  27 years before the women’s suffrage movement, this was no small feat. As a Post Master, one of the most coveted and respected positions in the Government, Tabb was a woman ahead of her time. Dedicated to taking care of her family, she converted her house into the post office and served people out of window on the front porch. The area once known as “Smithville” was later named “Tabb” as a nod to Ms. Tabb’s post office.

Located on the heart of what was once Tabb’s property, Smith Farm Estates is nestled in history.  Not only are these ½ acre+ lots highly desired due to location, but the deep historical roots of the land make it even more desirable.

Liz Moore and Associates is honored to represent Edgerton Contracting in this groundbreaking community! For more information on available lots, or for a tour, please contact Jenny Edgerton at (757) 592-3378.

When looking for high quality and unique home furnishings for a great price, consider visiting a consignment shop.

There is a common misconception that consignment is a glorified thrift store, but with high-end, discerning consignment shops becoming more popular, nothing could be further from the truth. The consignment stores featured in this article are known for the high-quality offerings at great prices. Many customers often brag about the great deals they’ve scored; being able to spot a great deal at a bargain price is a badge of honor for many.

People consign their home furnishing for various reasons, children move in or out, people upgrade or downsize, people move or buy a new home. Life changes all the time and consignment stores are the place to go when your furnishings are too high-end and well-kept for an estate or garage sale. Consigning seeks to strike the balance of a good return for the seller on high-quality pieces and a good deal for the buyer.

Quality consignment shops except only well-cared for furnishings that are attractive, stylish, and will most likely sell. They then arrange the furniture in attractive vignettes and seek to find the valuable pieces new homes. By accepting only the best furnishings and filling their shops with likeminded pieces of similar quality and value, these shops are able to command more value for the furnishings and provide a better return for the seller.

So how does it work? Consignment shops will inspect your potential consignment furnishings in a few different ways, you can show pictures of your pieces, you can bring your smaller items in for review, or you can set an appointment for the shop owner to come to your home to consider larger pieces and collections of furniture. Some shops ask for pictures of your home including your kitchen and bathrooms to gauge your lifestyle and cleanliness, and ensure the piece was in a clean environment before accepting it into their shop. Some shops
even offer pick-up and delivery services for a small fee.

Once a piece is accepted into the shop for sale, the seller and shop owner usually work together to price the item. The initial price is usually reduced somewhere around 15% after the first 30 days if it hasn’t sold. After another 30 days, or 60 days from entry into the shop, the piece is reduced another 15% for a total of 30% off the original price. Most shops only agree to keep pieces on their floor for 90 days. After that if your piece hasn't sold you can pick it up or donate it. The shop owners are so discerning that most pieces sell within 30 days of entering their shop.

If your piece does sell, you split the profit with the shop owner. The general industry standard is 50% for each party, but some shops are more generous and give the seller 60% and keep 40% for themselves.

Most shops sell in store only, but a few post pictures and prices of their pieces online and sell items to buyers all over the country.

In these high-end shops you’ll find upscale designer home décor, furniture, handmade rugs, and more. Many work with interior designers and sell their staging pieces that are virtually brand new. Shop owners say it’s all about getting great inventory and turning it over, that rapid sale breeds more inventory as people get excited their items are selling and bring in more merchandise to sell. This constantly changing inventory attracts more
purchasing clients, many visiting weekly to see what’s new.

Shop owners say rustic farmhouse styled pieces are flying out their doors, as stores like Crate & Barrel, Restoration Hardware, and Pottery Barn are currently in vogue. Classic pieces like leather sofas and chairs are always in demand and are usually sold in less than a week. Today’s style of mixing and matching sets,
wood tones, and fabrics make consignment shops a great place to update your home's look while staying within budget.

Consignment shops offer good quality home furnishings at a value that benefit both the buyer and seller, as well as the small business owner.

Here are a few of our favorite local consignment shops:

In Williamsburg:

The Vintage Rabbit
240 McLaws Circle
Williamsburg, VA 23185
(757) 903-4083

The Velvet Shoestring
311 2nd St.
Williamsburg, VA 23185
(757) 220-9494

On the Peninsula:
Design & Consign LLC
9961 Warwick Blvd.
Newport News, VA 23601
(757) 223-7707

Phoebus Auction Gallery
18 E Mellen St.
Hampton, VA 23663
(757) 722-9210

Rooms, Blooms & More
10239 Warwick Blvd.
Newport News, VA 23601
(757) 599-9299

In Richmond:
Impulse
419 North Ridge Road
Henrico, VA 23229
(804) 288-7300

Revival
9750 Gayton Rd.
Richmond, VA 23238
(804) 750-2200

Izzie’s Consigning with Grace
14300 Midlothian Tpke
Midlothian, Virginia 23113
(804) 378-5005

Great consignment shops...just another reason why we love where we live!

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 1^st 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!

By: 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!

We had so much fun with this year's Love Where You Live Photo Contest.  We had 265 photo submitted from 55 different photographers.  Thank you to all who participated and helped us tell of the many reasons why we love where we live!

The Liz Moore Love Where You Live Photo Contest is highlighting photos in the "Special Places" category during the month of August.  Submit your photos at www.lizmoore.com/love and we'll select winners from that category at the end of the month.

Remember, this year's overall photo contest will run through October 15, 2018, and at that time we will select the grand prize winners.  We will be awarding prizes such as an iPad, Busch Gardens Season Passes, cash, and more!  

Thank you for showcasing why you love where you live!
                                                                                       
                                                                                            (Icy James River, Photo Credit: Amber Krug)

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