The Liz Moore Market Watch Blog

Join us for the Grand Opening of the newest model in Madison Estates on Wednesday, September 11^th from 12-2pm at 7515 Madison Estates Dr., Hanover, VA 23111.  Enjoy lunch and meet the builder.

If you miss us, you can stop by on Saturday, September 14^th from 12-2pm.

Come experience the newly debuted, never-before-built Chapel Hill by NK Homes of Virginia! This beautiful 3,351 sq. foot craftsman boasts bright open spaces, beautiful trim work and built-in cabinetry as sits on a large, lush green yard. With 4 bedrooms and 3.5 baths, there is no shortage of space! The first floor master is full of character with stained tongue and groove ceilings and the master bath is full of natural light. Enjoy evenings by the fire with your own private fire pit, situated on the patio, located off of the back deck.

The Chapel Hill is nestled in the community of Madison Estates, a quaint, private area near old Civil War trails and battle grounds in the Cold Harbor area of Hanover. Developed by Godsey Property, Inc, the land was once private property of the Godsey family, and in fact, they still reside in the neighborhood. A large private barn is a center focus of the community and one can stop at any point and see horses leisurely grazing in the fields.

People come to Madison Estates seeking privacy. Not only do residents find that, but they also find an amazing sense of community; creating the perfect balance for a blissful life. Only 9 homesites remain, if you’re interested in learning more or taking a tour, please contact Jana Mills JanaMills@lizmoore.com.

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 Meg Clark, a Liz Moore Rainmaker!

Richmond Custom Home Builder, Perkinson Homes, is building a new model home in the sought after neighborhood of Hallsley. 

Hallsley, located in Chesterfield County, offers luxury amenities that are unparalleled by any other community. The Residents Club offers amenities for the whole family to enjoy, as well as a year-round calendar of events.

This brand-new home, The Laurel, is where old world charm meets contemporary chic! The five bedroom, four and a half bath floorplan is designed to cater to the busy modern family who desires to maximize the use of all 4853 square feet of this home.  The grand foyer boats a large gray clad feature window where the sun shines through on to the main hardwood staircase.

The home’s library includes custom built-ins and exterior doors to the front terrace perfect for Southern porch sitting.

The design of the open concept great room and kitchen exemplifies livable luxury. The custom kitchen includes a multi-purpose prep pantry and a breakfast nook area that is ideal for either large holiday dinners or provides plenty of room for smaller intimate daily meals. 

A cozy painted brick fireplace can be spotted on the long stamped concrete porch where room allows for plenty of seating for dining and lounging.  Ornate wood stained columns and a tongue and groove stained ceiling further decorate this outdoor space.

A large guest suite with full bath and walk in closet can also be found on the first floor. This suite has the potential to be the main master bedroom or serve as a second master. 

On the second floor you’d find three bedrooms and the master bedroom. The main master sleeping quarters leads into a morning station room which connects to both the master closet and stunning master bathroom. The custom master closet conveniently leads you to the laundry with built in cabinetry, folding station and sink.

A 684 square foot third floor can be used as a game room, exercise room, playroom, home office, theater room, to name a few.

With so many stunning features, this merging of traditional with modern is what makes the Laurel unique!

Perkinson Homes and The Laurel are marketed by The Southern Select Team at Liz Moore & Associates.  For more information, call Julie Crabtree at (804) 898-2086.

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 Teddy Mintz, a Liz Moore Rainmaker!

2018 was another solid year for local real estate. Here in Richmond, closed sales finished down 2.15% for the year, with a 6.2% increase in 2 years overall. The final month showed pending sales down 12.3% compared to the year prior.

We are entering 2019 with less than 1.84 months of active inventory, and homes selling, on average, in only 32 days. On average, sellers accepted offers at over 99.75% 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.

Prices remained remarkably steady during the past 12 months, with the median sales price in Richmond slightly above $290,000 for most of the year and finishing up at $293,539.

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 $350,000.

Interest rates will begin 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. Appreciation was up in the Richmond Metro market last year (with the median sold price up just over 3.72%), and I expect will continue to trend toward more normal appreciation rates (4 to 5%) 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 be a part of the Richmond Real Estate 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 for Central Virginia Regional 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!

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.

Perkinson 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 believes 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.

NK 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 home 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!  

Join 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.

Mark your calendars – our Annual 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!

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 LJ Zapar, a Liz Moore Rainmaker!

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 Linda Elmore, a Liz Moore Rainmaker!

Liz Moore & Associates is delighted to announce that it has been selected by NK Homes  as the exclusive marketing agency for Madison Estates in Hanover. Team Hensley will be the exclusive sales team representing the community.

Madison Estates is a luxury development consisting of 1-2 acre, open lots. An equestrian lover’s delight, a custom stable is situated in the center of the development. Located nearby are horseback riding and walking trails and large community spaces. Neighbors enjoy seclusion, yet they are only minutes from Richmond.         

Madison Estates is in its final phase with only 10 homesites remaining. “When you buy in Madison Estates, you’re not only buying a great piece of land, you’re buying great peace of mind and serenity. You can’t put a price tag on that,” says Catie Burnett, New Homes Coordinator for Liz Moore and Associates. “With their upscale style and elegant craftsmanship, NK Homes has really captured the heart of Hanover in this community. It’s truly a rare opportunity.”

Learn more about this special new community at www.lizmoore.com/madisonestates.  For more information about Madison Estates or to arrange a visit, contact Jana Mills at 804-909-9570 or email janamills@lizmoore.com  for a brochure.

Vote for our builder clients, Perkinson Homes, in the Richmond Times Dispatch's The Best of Richmond contest! Vote today and everyday through August 5, 2018 at www.voteforperk.com.

Perkinson Homes, Inc. was founded in Richmond, Virginia in 2008 by Brian R. Perkinson. Brian is a 3rd generation home-builder, following in the footsteps of his grandfather and father. He holds a degree in Wood Science/ Forest Products from the Virginia Tech School of Natural Resources. 

For more information on Perkinson Homes, download the Meet the Builder story below.

Relax on Thursday evenings throughout the summer at Flowers After 5 at the Lewis Ginter Botanical Gardens in Richmond. Stroll through the gardens; enjoy live music, wine, and beer, dining, and shopping.

Please note: No outside food and drink are allowed inside the Garden; food and drink are available for purchase. See menu (PDF). . Guests are encouraged to bring lawn chairs and blankets. Some chairs and tables are available, but they are available on a first-come, first-served basis.

For more information, visit http://www.lewisginter.org/event/flowers-after-5/all/ .

Tonya Morrow, Managing Broker of our Richmond office, shares what she sees happening in the Richmond real estate market in 2018.

2017 was a solid year for local real estate. Here in Richmond, closed sales finished up 8.13% for the year, with pending sales up over 8%, which indicates a strong start to 2018. Much like last year, we did not experience the typical holiday slowdown, which also bodes well for sales activity in the New Year, despite some early snow events in January.

We are entering 2018 with just over 1.5 months of active inventory, and homes selling, on average, in only 37 days. 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.

Prices showed a steady increase during the past 12 months, with the average sales price in Richmond finishing up at $282,257.

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 now behind us, activity levels have definitely regained momentum. Record activity in the stock market has also translated to increased real estate interest.

My expectation is that there are many sellers who have been waiting for more favorable market conditions to list – and that will continue to happen as we move toward 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 prices continue to climb due to the inventory shortage, consumers will realize that moves need to be made ASAP in order to take advantage of an 8 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 $500,000.

Interest rates will begin 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 2018 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. The overall Richmond market appreciated just over 6% in 2017, and I expect that trend to continue into 2018.

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 be a part of the Richmond Real Estate 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 for REStats CVRMLS, Richmond Metro all home sales in 2017

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

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 Brooke Barnard, a Liz Moore Rainmaker!

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 Rick Cox, a Liz Moore Rainmaker!

The craft brewery boom has beer lovers everywhere hopped up, and Virginia is no exception.

The Commonwealth boasts 206 breweries, 13th most in the nation. They produced nearly 300,000 barrels of traditional and wildly innovative brews last year. That’s part of an explosion that’s seen U.S. craft breweries triple in number to more than 5,000 in just five years.

Craft breweries, though, are so much more than high-ceiling warehouses cranking out lagers, stouts, porters and IPAs with cool labels and catchy names. Craft tasting rooms have become modern cultural centers, warm and welcoming community hubs - family and often dog-friendly - that are fun, vibrant boosts to their town's quality of life.

Shadowed by looming stainless steel tanks where the hops, yeast and water join forces, tasting rooms thrive now as special-event venues, trivia parlors, music halls, food-truck and corn hole fests, even yoga studios.

Craft breweries and beer tourism add over $9 billion to Virginia’s economy, according to Gov. Terry McAuliffe, who calls Virginia “a premier destination for craft brewers and consumers from all over the world.”

Craft brewing is a collegial world in its own right. It thrives on the principal that all who brew are colleagues, not rivals, inspiring each other to greater creativity and beer innovation.

We’ll drink to that!

Here are just a few of our favorites for relaxed, beersavoring good times with friends in and around Richmond, a nationally acclaimed hotbed of craft breweries:

Center of the Universe Brewing Co.
11293 Air Park Road, Ashland
COTU recently celebrated five years of brewing in the heart of central Virginia. Founded by brothers Phillip and Chris Ray – Chris pitched in the major leagues for six seasons – the brewery features four year-round brews: Ray Ray’s Pale Ale, Chin Music Amber Lager, Pocahoptas IPA and Slingshot Kolsch. Enthusiastic former home brewers, the Rays use traditional, all-natural methods to brew their ales with whole ingredients. They’ve created a comfortable and friendly tasting room - food can be brought in or ordered for delivery - with plenty of space and two dozen options on tap.

Speaking of plentiful, COTU frequently holds Plant Nite, where horticulturally inclined patrons can get their gardener on while sampling the fruits of the Rays’ labor.

Hardywood Park Craft Brewery
2408-2410 Ownby Lane, Richmond
It’s true destiny that childhood friends Eric McKay and Patrick Murtaugh teamed to open Hardywood Park in
2011. McKay worked in the craft beer industry for years, becoming a recognized expert, and Murtaugh comes from three generations of brewmasters. They named their own brewery after an Australian sheep ranch familiar to them both. Business is definitely hearty: Hardywood has expanded to Charlottesville and is set to open a brand-new brewing facility in Goochland in 2018.

The owners’ expertise has produced one of Virginia's top rated and most awarded breweries. Hardywood complements its flagship Singel, Pils and VIPA with a staggering number of seasonal, barrel, pilots and “brewer
and artist series” offerings.

Stone Brewing Richmond
4300 Williamsburg Avenue, Richmond
Craft-beer aficionados know that Stone rocks. Competition was fierce among cities a few years ago for California-based Stone’s East Coast brewery and distribution center. Richmond’s sky-rocketing craft-brew scene won out.

The evidence is Stone’s striking 220,000 square-foot brewery and company store, part of the Fulton neighborhood's revival. Stone also has plans in the work to build an RVA version of its Southern California World
Bistro and Gardens next door.

IPAs are Stone’s trademark game. It brews six different varieties for year-round enjoyment as well as an impressive menu of seasonals, special releases and collaborations.

Brewery tours are popular, but just relaxing in the comfortable, picnic-table filled tasting room fronted by a
family-friendly patio is fun, too. Pay attention getting to Stone, though: there is no outdoor signage, so it’s easy to drive past the parking-lot entrance.

Veil Brewing Company
1301 Roseneath Road, Richmond
Despite operating only 1½ years, Veil fans rave that their favorite place is among the best and busiest craft
breweries on the East Coast. Located in the Scott’s Addition neighborhood, the cushy tasting room is already famous for a cool vibe and very welcoming service. Veil draws high marks for all facets of its operation, not the least of which is a pair of its most delicious flagships - Master Shredder, a wheat IPA, and double IPA Crucial Taunt.

Co-owned by brewer Matt Tarpey, Veil in fact was named the third-best new brewery – in the world! – by
RateBeer.com. Make a note to yourself: Must. Visit. Veil.

Interested in finding more things to do in and around Richmond? 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 Richmond, in either paperback or e-book version by clicking the button below.

Are you interested in hot real estate topics, tips and trends?  
Click below to subscribe to our blog! 

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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 Annemarie Hensley, a Liz Moore Rainmaker!

As you might imagine, at Liz Moore & Associates we are enthusiastic advocates of living in Richmond and its surrounding communities.  We have the best of all worlds:  four distinct seasons with just enough snow in the winter to have fun; long, lazy summers, and SPECTACULAR springs and falls.  We have great schools, plenty of history and culture, and are convenient to just about everything…the beach, the mountains, Washington DC, and much more.

Who knows the insider secrets of this dynamic area better than the best REALTORS in town?  We’ve compiled 101 of our favorite things about living Richmond and are excited to announce the release of our latest book, 101 Reasons to Love Living in Richmond.

The hard part of writing this book was to narrow it down to 101 reasons to love living here.  It would be impossible to include everything, and so we tried to stick to our favorite things.  I’ve we’ve missed something, please don’t hesitate to email us at RVA@lizmoore.com, and we’ll consider adding it to the next edition. 

You can download the electronic version for free, or purchase a hard copy for $5, at lizmoore.com/101.

Now, grab a highlighter, and pick out some fun things to do this weekend!

This past weekend, Liz Moore, President of Liz Moore & Associates, participated in the Cowboys Uncorked fundraising event at the Williamsburg Winery.  Liz was thrown in the Cowboys Uncorked Jailhouse and needed to raise bail money to be released.  She raised a total of $3,240!

All money raised benefits the Dream Catchers at the Cori Sikich Therapeutic Riding Center.

Dream Catchers is a 501 (c)(3) non-profit organization whose mission is to provide life-changing equine assisted activities and therapies to children and adults with special needs.  Each year, the Center provides over 4,000 lessons to about 500 students from 4 years of age to senior citizens in their 90’s.  

Thank you to all who donated to this amazing cause!

Are you interested in hot real estate topics, tips and trends?  
Click below to subscribe to our blog!