The Liz Moore Market Watch

Fords Colony Parade of Homes

Join us this coming weekend for an autumn tour of some of the loveliest homes in Williamsburg!  Just stop by the front gate on Saturday or Sunday and ask for the Liz Moore brochure, which will have detailed directions to each participating home.  Get your ticket initialled at 4 of the homes, and be entered in a drawing for $100 gift card to Opus 9!

The Best Kept Secret in Williamsburg!

Liz Moore & Associates, and Debbie Cobb and Elaine Roberto, have been selected as the exclusive marketing company for Brandywyne, a community of maintenance free single family homes tucked away in a beautifully manicured setting, an easy stroll from the historic district of Colonial Williamsburg. Charming lamp posts and tree lined streets give Brandywyne a European village feel.

“We are thrilled to have been chosen for this opportunity” says Cobb, who has lived in Brandywyne since 2004, and is a huge fan of the resort style lifestyle. “There is a very special and unique sense of community here, and for those that want to participate, there is always something going on…everything from bridge, zumba and mah jong in the community clubhouse to water aerobics classes at the pool. Neighbors enjoy a short stroll downtown to enjoy events such as the Grand Illumination, a 4^th of July celebration, and everything Williamsburg!”

According to Roberto, “The winning combination of a City of Williamsburg location – with low taxes and the ability to walk downtown in minutes, and exceptional, quality built single family homes and great amenities - makes Brandywyne a must see for anyone interested in a no-maintenance lifestyle. All lawn care, including irrigation, is taken care of for you, freeing up your time to enjoy life!”

There are a limited number of opportunities to live in Brandywyne remaining, as the marketing is in its final phase, so don’t hesitate. Interest rates are at historic lows, and it’s a great time to explore a new home. To visit the models or for more information, call Debbie or Elaine at 345-8944 or e-mail brandwyne@lizmoore.com.

Dream Kitchen!

Are you dreaming of a new kitchen? The self-guided Ferguson Dream Kitchen Tour will give you the opportunity to check out the most fabulous chef’s kitchens from Virginia Beach to Williamsburg on Mothers Day weekend, May 7-9th.  Check out a map of the homes and ticket info at www.JLHR.org.

One of our Collection listings is featured on the tour this year – www.lizmoore.com/224hollyhillsdrive.  In addition to a dreamy kitchen, this incredibly beautiful NEW custom home in the City of Williamsburg boasts too many features to list...you simply must see it!  A spectacular architecture - rich in character, fine construction and impeccable quality of craftsmanship have earned it praise as, 'The most beautiful home in Williamsburg.' Chosen as photographic backdrop by the Colonial Williamsburg Foundation. 1.54 acres, private cul-de-sac with seasonal views of College Creek.

Technorati Tags: dream kitchen tour,holly hills,luxury home

Stonehouse Dream Home Tour Coming Soon!

On Sunday afternoon, March 21st, local REALTORs led by Susan Krancer of Williamsburg Golf Properties and Liz Moore & Associates will host a “Dream Home” tour of listings in Stonehouse, conveniently located just minutes from Williamsburg.  22 resale homes will be open to the public, presented by 6 different local leading real estate brokerages, along with new homes in Ryan’s community Stonehouse Glen, from 1 – 5 in the afternoon.  All funds raised by advertising in the Dream Home Tour book will be donated to DreamCatchers, which is a therapeutic riding center for adults and children with special needs.  You can learn more about DreamCatchers by visiting www.dreamcatcherswilliamsburg.org.

There is a special website set up for the event at www.MyStonehouseHome.com.  If you haven’t visited Stonehouse recently, this would be an ideal opportunity to check it out.  In addition to a nationally acclaimed golf course, Stonehouse boasts a Resident Center with swimming, tennis, a playground, fitness center, gourmet kitchen, and built-in barbecue; Richardson’s Mill Pond Park with canoe storage, a boat dock, picnic facilities; miles of walking trails; RV/boat storage; common garden and soccer field.  It is truly a community within a community, and the residents love it!  Neighbors Del and Patty Humphreys said, “We chose Stonehouse because of the overall setting. Far enough away for peace and quiet yet close to everything...not only Williamsburg but just a short distance to the beach and Richmond and beyond. The landscape is beautiful and we take pride in our total community. Our neighbors are the best!”

You can also learn more about the big picture plans for Stonehouse at www.preservationstonehouse.com.

For more info, visit the event website, or call Susan Krancer at 757.784-0363.

Patriot’s Colony

I had the good fortune recently to be invited to give a presentation on the local real estate market at Patriot’s Colony, a continuing care retirement community here in Williamsburg. The event was attended by 80+ seniors, all prospective residents considering moving to the facility. Some were locals, from here in town, others came from the Lower Peninsula, and others from Northern Virginia and other parts of the state. I met a number of amazing people, and really enjoyed the afternoon.

What is unique about Patriot’s Colony is that it limits its residency to those who are retired officers from one of the 7 branches of the armed services or federal civil government retirees. The result is that there is an instant connection among the residents, and an immediate sense of community. As I heard one resident tell a visitor, “they all speak the same language” regardless of whether they are Army, Navy, Air Force, or Marines, and regardless of where in the country they herald from. Their stories are all quite different (and there were definitely a few storytellers in the group!), but there was a clear common theme of love of country and pride in service.

Liz Moore & Associates has recently launched a special division of the brokerage, which was created specifically to assist SENIORS with their special needs. Whether it is deciding the right time to sell in order to move to Patriot’s Colony or another local retirement community (we would be happy to share our 2 cents about our favorites!), or helping a retiring couple relocate to Virginia – searching for 55+ active adult communities, or simply a home with a first floor master bedroom, or handicap accommodations…our Seniors team can help.

When it comes to selling, seniors face different challenges than many sellers. Often they have been in their homes for many years (at the recent Patriot’s Colony Discovery Day, I met one gentleman who was contemplating selling after living in the same home in Williamsburg for over 40 years!), which means evaluating what improvements and updating, if any, make sense. It’s important to maximize value, but also to keep it simple. We are experts at helping you make those types of decisions. If you should decide to remodel, we can connect you with reliable contractors at affordable prices.

We are supported by a fabulous network of affiliates who also specialize in the senior market – we can recommend folks to help you downsize, attorneys who focus on estate planning and elder law, and make qualified care giver recommendations. If we don’t know the answer, we know where to find it.

So, if you are a SENIOR who is contemplating a move, or if you know someone who is…give me a call at 757.645.4106, and I’ll be sure to put you in the capable hands of a Senior Specialist.

Technorati Tags: Patriots Colony,retirement communities in williamsburg,continuous care facilities in the Historic Triangle,senior specialists in real estate

Virginia Symphony at Lake Matoaka – What a Treat!

I enjoyed the most wonderful experience on Thursday evening – I took my parents, husband, and son to a concert at the newly renovated amphitheatre at the College of William & Mary.  Overlooking Lake Matoaka, under the stars, on a balmy late summer evening…it was magical.

The Virginia Symphony was fabulous – played an eclectic collection of music – everything from Billy Joel to Beatles, Big Band to Ray Charles, and an inspiring tribute to the Armed Services which included recognizing those patrons from each branch of the military.

Many concert goers enjoyed picnics, while some just sipped wine and enjoyed the music with friends and family.

My parents, who relocated recently from Maine (but have lived in metro areas such as San Francisco, Atlanta, and Chicago) marveled at the opportunity to enjoy the symphony (for free!) in such a spectacular venue, in a small community – without having to battle traffic, parking, etc.

It made me realize just how fortunate we are to enjoy so many wonderful cultural opportunities, to be surrounded by history, to have so many fun experiences within a few hours drive.  I truly can’t imagine living anywhere else!

Want a list of some ideas of some of the many things to do on the Peninsula and in Williamsburg?  Send me an e-mail at liz@lizmoore.com, and I’ll reply with a copy of one of our exclusive Neighborhood Guides (51 Reasons to Love Living on the Peninsula, for instance).  They are available for Williamsburg, Newport News, Gloucester, Hampton, Smithfield, York County and Poquoson.

Technorati Tags: Virginia Symphony,Lake Matoaka,William & Mary amphitheatre,things to do

Exciting New Plans at Stonehouse!

GS Virginia recently hosted a luncheon to celebrate the ground breaking of the initial phase of their exciting new development at Stonehouse.  Susan Krancer and I enjoyed a “VIP” invitation, as guests of GS Virginia in exchange for the preliminary marketing consulting that Susan provided as they researched the local market, working with Ginger Frailey, of G Frailey Associates out of Atlanta.

GS Virginia is the new developer at Stonehouse, having acquired the remaining undeveloped 4700 acres of the master planned community just outside Williamsburg several years ago.

Their visionary plans for the project are quite exciting for neighbors as well as the local real estate community.  Preservation is bounded by the historic York River, as well as Ware Creek – and features miles of spectacular views, wildlife, and natural resources.  Check out the scenery at www.preservationstonehouse.com! GS Virginia is currently exploring a potential marina site as well, which would enable residents to boat as well as kayak and canoe from their back doors.

Construction is already underway for the Laurel Grove Park amenity in the Preservation section of the community.  Tom Page, GS Virginia’s General Manager, shared architect’s renderings for the park, which will include a cottage clubhouse, fitness center, lap pool, a multi use field, and playground for all Preservation residents to enjoy.  Laurel Park is scheduled to open around Memorial Day in 2010.

Plans are also underway for 23 large estate lots (many of which are golf course sites) to be released shortly.

Page also shared the developer’s vision for the almost 3 million square feet of retail and commercial space of this mixed use project, which will round out the convenience factor for all Stonehouse residents, with plans for grocery shopping, dining, and many other business opportunities in this new growth corridor.

Interested in learning more?  Give us a call today, and we’ll be happy to share what we know about the new plans.  We’ll keep you posted as things develop.

Technorati Tags: master planned communities in williamsburg va,stonehouse,gs virginia,tom page,preservation

Market Watch 2009

On Tuesday, July 7th, from noon until 1 pm in our Williamsburg Office in New Town, I will present an Insider’s Look into the current state of the local real estate market.  I thought I would try to hit the questions I am most frequently asked:

1. Why isn’t my house selling?
2. Has the real estate market hit the bottom yet?
3. Are short sales and foreclosures good investments?
4. Where are the best buys in town right now?

And, also take a look at the latest market trends in Williamsburg/James City County and the surrounding areas.

Space in our Training Theatre is limited to 42, so, rsvp to concierge@lizmoore.com to secure your spot.  Free box lunch from Baker’s Crust!

Technorati Tags: market trends,Williamsburg real estate,foreclosures,short sales,what is the best buy in Williamsburg,why won't my house sell?

What are the HOTTEST neighborhoods?

The answer to that question depends entirely on how one defines “hottest.”

The obvious and easy answer would be to base the answer on which neighborhood enjoyed the highest number of sales in the past 12 months. Under that definition, Ford’s Colony is the clear winner, posting 79 sales (excluding lots), according to a recently run Broker Metrics report based on Williamsburg MLS data.

Another way to approach this question is which neighborhoods have the fastest market times.  That is usually measured by “days on market;” which, frankly, is a benchmark I abhor.  In my opinion, days on market does not reflect the true marketing period, because a listing that has been on the market for a year, expires, and is re-listed with a second broker and then sold in a week will only reflect a market time of 7 days, when really it should be reported as 365+7, or 372 days.

In order to get a true picture of sales pace, one needs to consider both the supply and demand side of the equation. Let’s compare 3 other communities which buyers also consider when looking at Ford’s Colony: Kingsmill, Governor’s Land and Holly Hills. During the same 12 month period. Kingsmill posted 60 sales, Governor’s Land posted 19 sales and Holly Hills posted 10.

But, that’s only accounting for sales. What about supply? As of the end of the first quarter, there were 148 active listings in Ford’s Colony (excluding lots), and that number was as high as 175 listings last summer. Kingsmill only has 65 available listings, with a summer of ’08 high of 75. Governor’s Land has 42 available listings, down from 51 listings in September. And, Holly Hills brings up the rear with 7 active listings, approximately half of the available inventory of two years ago.

Compare the inventory numbers to the “average sales rate” in the neighborhood on a monthly basis, and that enables us to calculate an absorption rate and a monthly supply of inventory. Essentially, these two metrics consider both the supply and demand side of the equation.

Ford’s Colony currently has 24.5 months of inventory (available listings divided by monthly sales), and Kingsmill and Governor’s Land are both running about 21 months. Holly Hills, despite the lowest number of sales in the past year, only has a 9 month supply of inventory, and is far closer to a balanced market than the competition.

So, where are the best buys? Logic has it that the communities with the highest inventory levels offer the most choice, the most competition, and arguably sellers more willing to negotiate. The counter to that, however, is that the communities that maintain a higher demand than supply will hold their value better over time. So, in terms of long term appreciation, a solid buy in Holly Hills will probably deliver comparable investment results to a “steal” in Ford’s Colony.

And, that brings me to my tried and true advice to buyers: try not to make decisions solely based on what the current market dictates. Think long term. Although you are a buyer today and the softest market beckons, you will be a seller in the future, and you want to be sure that your investment pays off in the long run. Let your family’s “wish list” determine your parameters (do you want to live in a gated community, close to a golf course and/or the water, or do you want to be in town?). Once you’ve established the emotional basis for your decision, let an experienced REALTOR help you evaluate your choices, assess the numbers and trends, and structure a competitive offer. Your choice should be the best value in its category, and if it’s not, your offer should reflect that.

Would you like to talk in greater detail about the current market in Williamsburg? Feel free to drop me a line at liz@lizmoore.com, or check out the Market Trends on our website at www.lizmoore.com.

Technorati Tags: hottest selling neighborhoods in Williamsburg,best buys,market trends

Migration Statistics for Williamsburg, Virginia

When marketing real estate, it’s only logical to understand your audience.  Where is the target profile buyer for the property likely to come from?  There are a number of different ways to approach this, one of which is studying demographics.

This migration chart offers a dynamic way to analyze target buyer data.  If you zoom in on Williamsburg, for example, you’ll notice that all but a select few actually moved from our local MSA (metropolitan statistical area).

At Liz Moore & Associates, we have built our marketing platform on one simple premise:  creating the right targeted exposure for our listings. 

In our Williamsburg example, outside of the immediate market (James City County), the most moves came from Newport News, Hampton, and York County.  So, by featuring all of our Williamsburg inventory in our Daily Press gatefold publication, for instance, we are able to reach a very precise demographic that some of our competitors in the Williamsburg market overlook.  That improves our odds of finding the right buyer dramatically.

Want more details about our innovative marketing strategies?  I’d love to share.  You can reach me at liz@lizmoore.com. 

Technorati Tags: migration data for Williamsburg VA,demographic marketing,target buyer profiles