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!