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Copyright 2015 NATIONAL ASSOCIATION OF REALTORS®
Visit houselogic.com for more articles like this.
Copyright 2015 NATIONAL ASSOCIATION OF REALTORS®
The realtor.com October National Housing Trend Report shows that inventory remains tight as total listings have decreased 2.9 percent month-over-month and 4.8 percent year-over-year. In October, homes spent approximately 92 days on the market, which is an increase of 2.2 percent month-over-month and a decrease of 2.1 percent year-over-year.
However, Zillow reported that inventory of all homes for sale in its site increased by 15.8 percent year-over-year. Buyers will find the supply of lower-priced homes is growing more slowly than high-priced homes in most of the country.
The inventory of for-sale homes in the bottom home price tier rose year-over-year in 68.3 percent of the 353 total metro areas analyzed by Zillow, while inventory in the top home price tier rose in 82.2 percent, or 290 of the 353 markets analyzed.
In Denver, there were almost four times as many homes available for sale in the upper price tier (priced at $357,900 or more) than there were homes priced in the lowest price tier (less than $219,000).
The same was true in many other markets. Dallas, Atlanta, Phoenix and Nashville had at least two times more homes for sale in the top tier than the bottom tier.
In 25 of the 35 largest metros analyzed, there were more homes for sale this October than last October in all three price tiers. In 14 of those metros, the increase in number of homes for sale was in the double digits in all price tiers.
“Depending on their finances, it’s likely that individual buyers in the same market might be having completely different home buying experiences. Even as conditions improve for buyers overall, it remains a tough row to hoe for first-time buyers and lower-income buyers, especially compared to their more well-off contemporaries,” says Zillow Chief Economist Dr. Stan Humphries. “We expect more demand to come from the lower end of the market in coming years as millennials overtake Generation X as the largest home-buying demographic. As this happens, builders will be forced to build for these more entry-level buyers, and inventory at the bottom tier should improve, however slowly.”
Overall, median U.S. home values rose 6.4 percent from October 2013 and 0.4 percent from September, to a Zillow Home Value Index (ZHVI) $177,500. Both monthly and annual home value gains were well below the faster paces recorded earlier in the year. Rising inventory and slowing home-value growth are two signs that the housing market is beginning to level off across the nation.
As the market has cooled, buyers looking for less expensive homes did find some relief in the hottest metro areas, including San Diego, Los Angeles and the Bay Area. In San Francisco, the number of low-priced homes on the market rose by 39 percent, but there were fewer high-priced homes on the market. While inventory was still tight there in October, the homes that were available spread evenly across the price spectrum.
For more information, visit www.realestateeconomywatch.com.
As cash investors pull away from the housing market, August's existing home sales also slipped, according to the National Association of REALTORS®. This decline follows four consecutive months of impressive gains.
Sales increases in the Northeast and Midwest were outweighed by declines in the South and West. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, decreased 1.8 percent to a seasonally adjusted annual rate of 5.05 million in August from a slight downwardly-revised 5.14 million in July. Sales are at the second-highest pace of 2014, but remain 5.3 percent below the 5.33 million-unit level from last August, which was also the second-highest sales level of 2013.
This drop was anticipated; Economists polled by MarketWatch had predicted an annual home-sales rate of 5.2 million in August, a drop from July's original reported rate of 5.15 million.
Lawrence Yun, NAR chief economist, says sales activity remains stronger than earlier in the year, but fell last month as investors stepped away. “There was a marked decline in all-cash sales from investors,” he says. “On the positive side, first-time buyers have a better chance of purchasing a home now that bidding wars are receding and supply constraints have significantly eased in many parts of the country.”
Yun adds, “As long as solid job growth continues, wages should eventually pick up to steadily improve purchasing power and help fully release the pent-up demand for buying.”
The median existing-home price for all housing types in August was $219,800, which is 4.8 percent above August 2013. This marks the 30th consecutive month of year-over-year price gains.
Total housing inventory at the end of August declined 1.7 percent to 2.31 million existing homes available for sale, which represents a 5.5-month supply at the current sales pace. However, unsold inventory is 4.5 percent higher than a year ago, when there were 2.21 million existing homes available for sale.
All-cash sales were 23 percent of transactions in August, dropping for the second consecutive month (29 percent in July) and representing the lowest overall share since December 2009 (22 percent). Individual investors, who account for many cash sales, purchased 12 percent of homes in August, down from 16 percent last month and 17 percent in August 2013. Sixty-four percent of investors paid cash in August.
NAR President Steve Brown, says a gradual decline in investor activity, many who pay in cash, is good for the market and creates more opportunity for buyers who rely on financing to purchase a home.
On the subject of mortgage financing, Brown adds, “REALTORS® applaud the recent policy change to eliminate post-payment interest charges on FHA-insured single-family mortgages,” he says. “The prepayment penalty placed an unfair and unreasonable burden on consumers who already face high housing and closing costs.”
However, not all markets are seeing drastic reductions. "Our August numbers produced $7.4 million in sales with the average sales price of $129,000” says James Watson, owner of Realty Executives Fort Leonard Wood in Fort Leonard Wood, Missouri. Fort Leonard Wood's August 2014 sales numbers were just 3.4 percent lower than those in July of this year. “The absence of foreclosures takes some investors and low-budget buyers out of the marketplace, and news of force reductions make some buyers less motivated to invest," explains Watson.
The percent share of first-time buyers remained unchanged in August from July at 29 percent. First-time buyers have represented less than 30 percent of all buyers in 16 of the past 17 months.
Distressed homes– foreclosures and short sales – represented 8 percent of August sales, remaining in the single-digits for the second straight month and down from 12 percent a year ago. Six percent of August sales were foreclosures and 2 percent were short sales. Foreclosures sold for an average discount of 14 percent below market value in August (20 percent in July), while short sales were discounted 10 percent (14 percent in July).
Properties typically stayed on the market in August longer (53 days) than last month (48 days) and a year ago (43 days). Short sales were on the market for a median of 135 days in August, while foreclosures sold in 53 days and non-distressed homes typically took 52 days. Forty percent of homes sold in August were on the market for less than a month.
According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage fell for the fourth consecutive month to 4.12 percent in August from 4.13 percent in July, and remains at the lowest rate since June 2013 (4.07 percent).
Single-family home sales slipped 1.8 percent to a seasonally adjusted annual rate of 4.46 million in August from 4.54 million in July, and are now 4.9 percent below the 4.69 million pace a year ago. The median existing single-family home price was $220,600 in August, up 5.2 percent from August 2013.
Existing condominium and co-op sales declined 1.7 percent to a seasonally adjusted annual rate of 590,000 units in August from 600,000 in July, and are now 7.8 percent below the 640,000 unit pace a year ago. The median existing condo price was $213,900 in August, which is 2.1 percent higher than a year ago.
Regionally, August existing-home sales in the Northeast jumped 4.7 percent to an annual rate of 670,000, but remain 4.3 percent below a year ago. The median price in the Northeast was $265,800, which is 0.8 percent lower than a year ago.
In the Midwest, existing-home sales increased 2.5 percent to an annual level of 1.24 million in August, but remain 3.9 percent below August 2013. The median price in the Midwest was $173,800, up 5.9 percent from a year ago.
Existing-home sales in the South declined 4.2 percent to an annual rate of 2.03 million in August, and are now down 4.2 percent from August 2013. The median price in the South was $186,700, up 4.7 percent from a year ago.
Existing-home sales in the West fell 5.1 percent to an annual rate of 1.11 million in August, and are 9.8 percent below a year ago. The median price in the West was $301,900, which is 5.4 percent above August 2013.
For more information, visit www.realtor.org.
Finding Your Next Home is Just a Click Away! Search the MLS Now
How much is your home worth? Request a Neighborhood Market Report
By Keith Loria
As any real estate agent will tell you, the kitchen is the heart of the home. While a messy, overcrowded and tired looking kitchen can be a big turnoff, the following steps will make your kitchen more appealing to prospective buyers.
Make Your Kitchen Functional. Clear the counters as much as possible—completely clear is the best option. Put cooking appliances you don’t often use in storage. Keep drawers clean and organized with only the utensils you need and get a head start on packing by putting everything you want to bring with you in boxes. And while you’re at it, throw away any useless items you come across. Make your move even easier by donating items you never use to a local charity.
Clean It. Go through the fridge and cabinets and throw out all those ingredients you haven’t touched in years. Clean the fridge thoroughly and organize it, and clean all the appliances as well. You may want to consider replacing low-cost items such as toasters, coffee makers and microwaves to give the kitchen a fresh, new look. For cabinets, dust or vacuum up any crumbs that have gathered. Throw away what you don’t need and make sure cabinets are neat and tidy. If you have cabinets that are stuffed with plates, mugs or cooking utensils, either get rid of some stuff or put it in storage for the time being.
You’ll also want to clean the floors thoroughly, in addition to cleaning behind the fridge and stove.
Be sure to check the curtains in your kitchen as well. When’s the last time you cleaned them? Buying new curtains is a very affordable way to spruce up a room. And make sure the windows are spotless.
Consider Renovating. If you have outdated cabinets and counters, buyers will almost certainly take some money off your asking price. The good thing about remodeling a kitchen as a seller is that you can design it for sale. Without spending a lot of money, you can buy new light fixtures, new faucets and handles and even replace these things yourself. If you don’t want to spend money on new cabinets, think about replacing the doors, or at least painting the cabinets. Just be sure that whatever you spend is worth it.
Staging the Kitchen. When prospective buyers come to look at the house, set the table tastefully as if for a meal with a centerpiece and settings. Bake cookies so that visitors are greeted with a pleasant, homey smell. Open curtains and turn on the lights so that people can see the best of what your kitchen has to offer.
For more tips to improve your kitchen, contact our office today.
Finding Your Next Home is Just a Click Away! Search the MLS Now
How much is your home worth? Request a Neighborhood Market Report
Accomplished Real Estate Agent Cindy Matchinis has joined the Melton Team and RE/MAX Peninsula.
She brings exceptional negotiating skills as well as a real estate agent staging designation to the most referred team in the area.
Licensed in 2005, Cindy has worked with buyers and sellers in Newport News, Hampton, York County, Williamsburg and surrounding areas.
When it comes to real estate, Cindy is all in! Not only does she bring over 9 years of real estate experience to the table; she's also an Accredited Staging Professional ASP®.
Said Cindy, "I love helping sellers prepare their homes for sale. Staging a home is all about showing potential to a new buyer; and it works!". With a long list of happy clients, a vast network of family and friends and a focus on family first, Cindy will no doubt be a great member of the Melton Team for years to come.
Cindy exudes the qualities the Melton Team looks for in an agent.
Listen: Carefully consider the clients needs throughout this important process.
Plan: Develop a plan with the buyer or seller based on experience and market conditions.
Work: Work efficiently and tirelessly to execute that plan against all odds.
Cindy was born and raised in the Chicago area. A retired Navy wife, Cindy has called the Hampton Roads area home for over 28 years. She's raised two wonderful daughters and is very proud to have her first grandchild! A little known fact, Cindy was a competitive figure skater for 9 years, traveling all over the Midwest to compete. She loves to share her passion of figure skating and teach to all ages. You can learn more about Cindy in the coming weeks on her about me page as well as follow her on Facebook page!
We look forward to many prosperous years and hope to provide her with all of the tools and resources necessary to be a huge success!
Once again, welcome Cindy! We're so happy to have you on board!
If you'd like to hire Cindy to help you buy or sell your next home; give her a call at 757-876-4641 or send her an email to firstname.lastname@example.org.
Year after year, Yorktown, Virginia remains a highly sought-after spot to purchase Hampton Roads real estate. According to a recent Money Magazine article, York Co. was ranked among the Top 100 Best Places to Live in America because of its “...stable economy, a highly ranked school system, low crime rates, and an abundance of recreational/social activities...”.
Have you always wanted a home with a big front porch and that “Welcome Home” feel from the moment you pull in the driveway? Then look no further than 211 Henry Lee Lane in York County, Virginia. Located in the Gaines Estates subdivision, this quintessential Southern York Co. Stratford awaits its new owners. It’s nestled on a deep, level lot off a quiet residential street. A unique feature that buyers are sure to love is the 16x11 side screened porch. With access from both the front porch and backyard, the screened porch will be the favorite hang out spot for the entire family! In the backyard, you’ll enjoy a gazebo, a pool, a play set and a roomy storage shed. Not to worry; there is still plenty of space for kids and pets to play!
Inside, buyers will be impressed by the usage of the square footage! The coat closet and half bath are positioned for maximum convenience. Don’t need a traditional living or dining room? Simply transform these spaces into a playroom, music room or office. You’ll love the sprawling 18x11 eat-in kitchen, complete with an island, tons of cabinet/counter space, a deep pantry and updated appliances! The breakfast nook can easily accommodate a large table with chairs! Even better, the kitchen empties into the sunken 18x13 family room! Complete with an inviting fireplace and brick hearth with surrounding built ins, you’ll have plenty of room for larger furniture and electronics! Plus, the family room has easy access to the backyard and oversized 2 car attached garage.
Upstairs, this York Co. home won’t disappoint! The 20x21 FROG offers endless options and storage! Escape to the master suite, complete with a 7x6 walk in and private bath! The remaining 2 good-sized bedrooms have ample closet space. Enjoy lots of natural light from the skylight in the full hall bathroom.
The new owner of 211 Henry Lee Lane will also benefit from the many activities, amenities and history that further enrich the York Co. lifestyle. Even if you don't own waterfront property in York Co., boating and fishing are popular past times there. Many York Co. marinas provide both wet slip and dry dock choices. Some examples would be Queen's Lake Marina, Dare Marina, and Wormley Creek Marina. Short-term docking is also available at Riverwalk Landing, undoubtedly the “hot spot” of York Co. Located on the York River, Riverwalk Landing in the historical Yorktown district offers something for everyone. Locals enjoy small, clean beaches for swimming, several restaurants/pubs for dining, souvenir and specialty shops as well as the always-packed Ben & Jerry's. Fish from the pier or along the shore, sun up to sun down. Take a pirate cruise on Yorktown's own schooner, Serenity that docked at Riverwalk Landing. Rent bikes or Segways so you can ride along the waterfront or adjoining Colonial Parkway. Buy fresh local seafood and produce during one of the many Yorktown Market Days. History enthusiast will appreciate the many museums such as the Yorktown Victory Center, Waterman's Museum and Cornwallis Cave. History enthusiast will appreciate the many museums such as the Yorktown Victory Center, Waterman's Museum and Cornwallis Cave. Catch the trolley and further explore Yorktown and the battlefields, the spot where the British troops surrendered to Gen. George Washington in Oct. of 1781. Historical Yorktown and Riverwalk Landing are even a great place to visit in the winter, especially during the holiday season. During the first Saturday in December, Santa joins the town at the annual tree lighting ceremony. From there, everyone lights candles and follows the Fife and Drum Corp as they march all the way down to Riverwalk Landing. The finale includes watching the Yorktown Lighted Boat Parade, sipping on hot apple cider and watching the kids rolling down the grassy hills or playing in the sand.
Clearly, 211 Henry Lee Lane has much to offer!
For more details or to schedule a private viewing of this fabulous property, please contact The Melton Team at: 757 784 1358 or email@example.com. Erin Melton is a licensed Realtor in The State of VA.
Grandview Island is an established resort like community in Hampton, Virginia Real Estate. Located directly on the Chesapeake Bay, residents enjoy riding around on their golf carts and being steps from Grandview Beach. Locals and visitors alike can enjoy waterfront dining at The Grandview Island Grill. Though minutes from the heart of this busy Peninsula city, Grandview Island has a peaceful, relaxed vibe; perfect for singles and families alike.
If you’ve been searching for a waterfront community and an affordable home, 101 Lighthouse Drive, Hampton, VA is just the property for you. One of the original Grandview homes, this unique home offers unobstructed views of the Chesapeake Bay! Individual touches can be found throughout to include built-ins, beamed ceilings, a stone fireplace and an original claw foot tub! Expanding the 2nd floor master bedroom by adding a private balcony would be a breeze; portions of the floor have already been reinforced to accommodate this! Complete with its own wet bar and mini fridge, the 10x20 enclosed front porch is the ideal setting for your next Super Bowl party or poker night!
For those that prefer the outdoors, 101 Lighthouse Drive has much to offer. Watch dolphin frolic as you grab your mail or roll your trash to the curb. Imagine inhaling the clean, salty air while planting flowers in the window boxes. The wrap-around deck is the perfect spot for steaming fresh soft-shell crabs, sipping lemonade and sitting around with friends. Set up a volleyball net or horse shoes in the fenced backyard for all to enjoy. Simply put, 101 Lighthouse Drive makes you feel like you’re on a year-round vacation!
In addition to the tranquility and beach you are not far away from all of the shopping and restaurants Hampton Roads has to offer. The newly re-designed Coliseum Crossing Shopping Center is only 9 miles away and features The Hampton Coliseum, Indoor / Outdoor Mall, Hampton Convention Center, Bass Pro Shops, Bluebird Gap Farm and much much more!
For info regarding this one-of-a-kind property, please contact Erin Melton of The Melton Team with RE/MAX Peninsula at: 757-784-1358 or firstname.lastname@example.org. Erin is a licensed Realtor in the state of Virginia.
These days, Hampton Roads buyers can find some amazing deals out there! Whether they are searching for their 1st home, an investment property that generates income or a personal vacation home, options are readily available. However, location and property condition are not always synonymous with affordability. This Williamsburg home for sale has just what you need!
Are you in the market for an economic Williamsburg property that offers easy commutes to major employers such as Camp Perry, Yorktown Naval Weapons Station, Fort Eustis, Langley AFB, Newport News Shipbuilding, Ferguson Enterprises, Sentara or Riverside? Need easy access to public transportation and bike paths for tenants attending William and Mary? Want to be within five minutes of Colonial Williamsburg and tons of shopping? Then look no further than 4026 Midlands Road in James City County, Virginia. Located in the quiet subdivision of The Midlands, this tidy townhome offers hassle-free living with low association fees. The tree-lined walkway, flower beds, and front porch offer a welcoming first impression. Adding to its curb appeal is the newer roof, windows and siding! Once inside, buyers will be impressed with the efficient usage of square footage and more updates! The 1st floor laundry room and half bath combo offers maximum convenience and privacy. Overlooking the dining area, the renovated kitchen features new counters, appliances and refinished cabinets. The 15 x 14 great room offers ample space for dining and den furniture. Enjoy access to the adorable back patio, directly off the great room. The second floor features one full bathroom and two master bedrooms with plenty of closet space. Less noticeable improvements include many plumbing, hardware and fixture updates. The HVAC was replaced in 2005! Priced at only $110,000 it’s plain to see that this townhome has much to offer its new owner!
Without a doubt, 4026 Midlands’ proximity to Williamsburg hotspots is ideal! It’s less than 5 minutes from The College of William and Mary by car or bus; be anywhere on campus by bike in 10 minutes or less! You’d never have to worry about parking while attending Tribe home games again! An abundance of shopping is available in every direction. Examples would be New Town, High Street, Prime Outlets, The Williamsburg Pottery and The Yankee Candle Factory. Plus, you’re minutes from major retailers such as Target, Super Walmart, Lowe’s, Best Buy, Pier One Imports, Pet Smart, and Dick’s Sporting Goods. When it comes to groceries, Trader Joe’s, Fresh Market, Farm Fresh, Martin’s or Food Lion are just around the corner. The choices are endless when it comes to variety of restaurants too!
Furthermore, this townhome’s new owners can take full advantage of living in a tourist town. Cycling and casual bike riding is popular all over Williamsburg and along the Colonial Parkway. Golfers have their pick of private and public courses such as Kingsmill, Williamsburg National, Ford’s Colony, and The Golden Horseshoe. Residents can enjoy discounted passes to Busch Gardens Williamsburg, Water Country USA, and Colonial Williamsburg. Enjoy lunch, dinner, a wine-tasting tour or even a night at an inn right in your backyard at The Williamsburg Winery.
With a great location and an even better price, 4026 Midlands is a must see!
For more details and to schedule a private showing, please contact The Melton Team of RE/MAX Peninsula at: 757 784 1358 or email@example.com. Team leader, Erin Melton is a licensed Realtor in the State of Va. Each RE/MAX office is independently owned and operated.
Rumored to be the 1st planned development on the Hampton Roads Peninsula, the historic neighborhood of Huntington Heights has remained a favorite in Newport News real estate over the years. Check out the key aspects that buyers love most about this nostalgic community:
1. There is a true community feel.
Neighbors know each other and watch out for one another. Everyone waves and greets each other. Several generations return to raise their families here as well. Buyers relocate here from other areas because it reminds them of their old neighborhoods where they grew up. Pride of ownership is evident.
2. Easy commute to military bases & the Newport News Shipyard
Major Peninsula and Southside bases such as Langley Air Force Base, Ft. Eustis and Norfolk Naval Station are located 25 minutes or less from the community. The NN Shipyard is just a few blocks away.
3. Close to recreation and beaches
Huntington Park is less than 5 minutes from the neighborhood and offers a playground, fishing piers and swimming in the James River. The oceanfront at Virginia Beach is only 30 minutes away.
4. No two homes are exactly alike.
In fact, the home at 327 52nd St - Huntington Heights Newport News VA. is currently for sale! This home offers several features that are unlike any others in the district! For starters, this American Four Square has an elevator! The columns on the massive 33x8 front porch add a Federalist flair! Secondly, the third floor has been transformed into a master suite. Buyers will love the ornate banisters, window seat, walk in closet & master bathroom with a jetted tub! Another special room is the 1st floor interior utility room/ full bathroom. A deep, walk in pantry & travertine counters can be found in the renovated kitchen. The original master bedroom has its own fireplace & antique intercom. Likewise, there is a fireplace in both the family room and library as well. 327 52nd even has a private driveway and detached garage! Some other unique features throughout are a claw foot tub, hardwood floors, the original main stairs banister, high ceilings, stained glass windows, an upper & lower back porch, a basement, deep closets, and window a/c units for each room. The best part? This historic home has too many updates and upgrades to name! Needless to say, 327 52nd St. is a one of a kind property!
If Huntington Heights and 327 52nd Street sound like the perfect fit for you, please contact: Erin Melton of RE/MAX Peninsula at: 757-784-1358 or firstname.lastname@example.org
Today's home buyers have plenty of choices when it comes for finding desirable homes for sale in Williamsburg Va and surrounding areas. Highly sought-after areas continue to grow and expand as new residents move in. More educational, medical, retail, commercial, recreational, cultural and employment opportunities start popping up everywhere. Though the added convenience is wonderful, there are some negative side effects; constant traffic and congestion.
Ever wish you could spend less time stuck in traffic or waiting in lines at the store? Need a place that's close to everything without having to pay a premium for the location?
Sounds like you need to check out homes for sale in Toano,Virginia. Situated in the upper half of James City County, this growing community has become a popular spot to live. Its affordable housing and abundant recreational opportunities are just some of this area's great features. Simply put, you won't have to sacrifice convenience or desirable neighborhoods when house-hunting in Toano, Va.
A perfect example is 9320 Ashwood Ct within the Stonehouse subdivision. Situated just minutes from I-64, the location is ideal for Hampton Roads and Richmond commuters! Plus, Stonehouse offers “gated-community” amenities & real estate at a fraction of the typical costs! Tucked further back on a .47 acre cul de sac lot, the setting offers maximum privacy! The home’s exterior stone accents further added to this home’s curb appeal. A grand hardwood staircase and a two-story foyer welcome you as soon as you walk through the door of this 1 year young home! The gourmet kitchen features granite counters, oodles of cabinets with lighting over & under them, a HUGE center island, gas cooking and a breakfast bar that overlooks the morning room! Even better, the wooded views won’t be disturbed by further development! The 1211 square foot heated/cooled walk-out basement is another bonus feature! Plumbed for the third bathroom and exhaust fan, this versatile space is ideal for storage or expansion. The master suite boasts two walk in closets & a tray ceiling! Escape to the spa-like master bath! Ceramic tiles with a sea glass accent encase the soaking tub and separate glass-door shower! Other note-worthy upgrades include a composite deck with vinyl railing, cable and internet drops in each room, custom blinds, hardwood floors throughout the 1st floor, an extra master bathroom exhaust fan, a tankless water heater and finished walls/floors in the attached garage.
As for the subdivision itself, the possibilities are endless! Enjoy the neighborhood clubhouse, swimming pool, kiddies’ pool, tennis court, playgrounds, community garden, tons of paths, public canoe landing and horse stables! Golfers will appreciate having a challenging course right within in the community! Better yet, the location is extremely convenient to schools and medical facilities! Williamsburg attractions and shopping are minutes from your doorstep! All of this could be yours!
To schedule an exclusive showing, please contact The Melton Team w/ RE/MAX Peninsula at: 757 784 1358.
This is something that comes up all the time. A homeowner wants to do an improvement or something customized that they really want to their Hampton Roads home but they have reservations. Their biggest question is will this help or hurt the re-sale value of the home. Here are two examples from two clients that are at either end of the spectrum:
A client and good friend called to ask advice on their Newport News home. They really love to read and had an extra room that they wanted to turn into a reading room. Not just a room to read, but a reader's paradise. I absolutely told them to go for it! Anything you do to your home that you'll use frequently is always a yes in my book. Once they put their Newport News home for sale, they'll have enjoyed many years with that reading room. You can easily convert something like that back if the new owner doesn't like it.
On the flip side, I had a client call me in early January about their York County home I had sold to them the year before. They were looking to convert a bedroom into a workout room. Now, no offense to them, but they didn't really seem like the work out type. They also didn't want to just put a treadmill in a room and call it a day. No. They wanted to pull up the floor to reinforce it and add hardwood, install wall to wall mirrors, a dancer's bar, etc. This is not a good idea. For one, this is a whim at the time of year that most people are setting their new years resolutions. For two, you're going to add significant cost to a room for something you want to start doing and not something you've done for a long time. Long story short; 3 mos later they were pregnant with their second child. Now it was time for a nursery! Yeah! Now this is something I can recommend with no problem!
Always do home improvements for you! Don't do them strictly for resale value unless you're living in a home you consider just an investment. One last thing to consider is the values in a neighborhood. Don't price yourself out of the community. What I mean by that is if your neighborhood has homes from $200,000 to $300,000 and you purchased yours for $280,000, don't put a $60,000 addition on the back. Now, in a community with a max value of $300k, you're going to be expecting well over $325k and you've just priced yourself out of the neighborhood. As a general rule, you don't really want to be the most expensive home or the least expensive home in a neighborhood. Somewhere in the middle is just right!
If you have any questions about home improvements, values or anything else about Hampton Roads real estate just give me a call! I'd be happy to help! Erin ~ 757-784-1358.
The best real estate website in Hampton Roads just got better with a cool new feature. Tidehomes.com will now feature cluster pins to take the place of the many house icons on the map search. Before it could get very confusing when there were multiple homes for sale in the same area. House icons would be stacked on top of each other. The more there were, the harder it was to click on them. For example, if you were searching in Newport News, you could literally have hundreds of homes for sale on a single page! Now, the cluster pins take the place of all of those house icons. When the house icons overlap each other, the map search creates a cluster pin with a +number. The number represents the number of homes for sale in that area. When you click on the pin it will zoom in on that area to reveal the homes for sale. Hopefully this will make the map search feature more user friendly. If you have any other suggestions, or run into any bugs or glitches, please contact us right away and we'll get it fixed for you! Click on the map to start your home search now!
Step 1 - Find a suitable piece of property to build on. Below are some quick links to land for sale.
Step 2 - Find a Builder
Spec Builder - This is a builder that has a set number of plans to chose from. You chose your plan and are able to make simple modifications. You will be given allowances to chose your flooring, appliances, counters, cabinets, etc.
Custom Builder - A custom builder will have a portfolio of homes previously built, but will also build from any blueprints. Many prospective buyers will chose a plan from Southern Living or William E. Poole Designs.
Architect / Builder - For a truly custom home you will need to find an architect and builder to design your dream home from scratch.
When you are ready to build the home of your dreams
Give us a call! 757-784-1358
Luxury homes for sale, broken down into areas. This is just a list to make searching easier for you! Want to browse for your new luxury home? This is the place! The links are constantly updated, so you’ll always have the latest luxury home listings in the Hampton Roads area.
Townhomes for sale, broken down into areas. This is just a list to make searching easier for you! Want to browse for your new townhouse? This is the place! The links are constantly updated, so you’ll always have the latest townhouse and condo listings in the Hampton Roads area.
Single family homes for sale broken down into areas. This is just a list to make searching easier for you! Want to browse for your dream home? This is the place! The links are constantly updated, so you’ll always have the latest property listings in the Hampton Roads area.
Waterfront homes for sale broken down into areas. This is just a list to make searching easier for you! Want to browse waterfront dream home? This is the place! The links are constantly updated, so you'll always have the latest waterfront listings in the Hampton Roads area.
Hampton Roads is a beautiful area in the south east of Virginia. The area includes Newport News, Hampton, York County, Poquoson and many more. The military plays a big part in the local economy and is very much supported by the entire community. The York and James Rivers provide plenty of leisure activity in this wonderful community. There are also too many historical sites to count. With over four hundred years of American history, it is no wonder that the entire area is a tourist attraction.
If you are looking for Hampton Roads homes for sale, it’s a good idea to simply drive around the area and check out the homes there before you do anything else. This will give you a good feel for the lay of the land and possible neighborhoods you might want to live in.
The next step would be to contact a Realtor in the area. They should have a complete inventory of Hampton Roads homes for sale. Before you see any homes, a good Realtor will sit down and discuss with you what sort of home you are looking for, the benefits of working with a local lender and the customer / client relationship. This way the Realtor will get a good understanding of where you are coming from and what is important to you.
Your Realtor will search available MLS listings for Hampton Roads homes for sale and email you different listings when they become available. If you are interested in any, they will make appointments with the listing agent so you can go and see them. They will accompany you to each listing to answer any questions you may have about the home, neighborhood and area. This is an excellent service because they can point out features of the home you might overlook and also tell you important facts about the area. This is one of the many advantages of working with a local Realtor. They will know intimate details about each area and are an invaluable resource for you and your family. If it is easy to go places on public transport of if the traffic is heavy on certain routes.
If you like a particular home and want to put an offer in for it, they will walk you through the process and go through the contract with you. After a thorough examination of the current market and recently sold homes, you'll have everything you need to make a competitive offer on your home of choice. They will advise you if you need to add additional clauses to the contract – for example a financing clause and a home inspection clause. Buying a home seems very complicated but a good Realtor will make it seem much easier.
Your agent will also work with you through the process of counter offers, contingencies, possession, etc. If your offer is accepted, they will help you find a home inspector and be at the home while the home inspector completes the inspection and reports the findings to you. They will place your deposit in the appropriate escrow account and make sure that you have everything you need every step of the way.
Finding Hampton Roads homes for sale with a realtor at your side makes the entire process smooth and enjoyable.
When you are looking for your next home, give Erin a call, email or text. She's one of the most referred real estate agents on the Peninsula for a reason! She can be reached directly at: 757-784-1358
The most important thing you can do when selling your home is to make it look like the best choice in the market. Home buyers are very well educated and have easy access to all the area has to offer. If your property isn't the best on their list, why would they buy it?
When staging your home there are a few things to consider. Make sure your home is not cluttered. Counter tops should have nothing on them except decorations. Bookshelves should be 75% empty. Laundry rooms should be clean and tidy. Bathroom counters should be completely cleared and clean. Big bulky furniture should be removed so the home feels more spacious. Anything unique in style should be removed. Everything should be fairly neutral. Remember, you aren't showing off your home; you're allowing someone else to picture their own furniture and decorations in their new home.
Have you ever wondered why all model homes have at least one that is furnished and decorated? It gets people excited about the potential of their new home. Is everyone going to have their home professionally decorated? No. A professionally decorated and furnished home make the home look alive and beautiful without the clutter of a lived in home.
Here is how you can still live in your home and make it look unlived in. Use baskets to put all unnecessary clutter out of sight and out of mind. Your kids play room can be an absolute wreck and cleaned up within minutes with the use of some simple, closeable baskets. Pack up everything you don't need to use right now. If you aren't using it and you haven't used it in 6 months, you probably won't need it. Just pack it up!
Doing these simple things will not only help you live a more clutter free life, but they'll also get you a great deal more for your home.
If you'd like your home staged and sold, please call Erin directly at 757-784-1358 or email her at email@example.com
Rush to see this terrific 4 bedroom/2.5 bath home in Hampton! Super convenient to Langley AFB, shopping, and I-64! Easy commute to all other neighboring bases and businesses! Sellers are motivated! First-time home buyers: this home is available soon so you can take advantage of your $8,000 tax credit! Plus, 30 yr. fixed mortgage rates are still so low!