Williamsburg, VA

The following are the residential tax rates for various cities in Hampton Roads Virginia. The rates are per $100 of assessed value. Not bad...

So, what does all of this mean to you? Now, is a great time to purchase your home. Sure, the market has slowed in Hampton Roads, but it is still better than the state average. In 2007, 23,071 homes were sold, including new construction and existing homes...down from 26,740 sold in 2006. But, the average price for a home sold in 2007 was $281,066, up from $276,104 the previous year.

All economic indicators point to a housing recovery that is prected to come SOONER in Virginia and Hampton Roads than in many other areas of the country. Translation, the Real Estate market will heat up here, in Hampton Roads, first!!! Call me today so that you can take advantage of tomorrow!!!!

I hope that I have enlightened & informed you!

Yvette Smith

Williamsburg's Preferred Realtor®

Very, very few people are qualified to sell their home without the help of a real estate professional. And, unfortunately, many people who believe they are saving money... aren't. In fact, they may be surprised at just how much it's costing them to go it alone.

Here are some of the reasons that a professional Realtor is invaluable:

1) Pricing in this market is tricky. Setting a price on your home takes an insightful analysis of not only past sales, but current pending sales. Many for sale by owners are actually over pricing their properties right now, because they don't have the experience or access to the right data in order to accurately determine market value.

In addition, we are also seeing approximately 1 in every 5 appraisals coming in low, sometimes thousands of dollars. A good Realtor can assist with appealing an appraisal, or working with the appraiser or underwriter to get a value adjustment, potentially saving the seller thousands of dollars.

2) Realtors are expert negotiators...an absolutely essential need in today's buyers' market. With the leverage of the Multiple Listing Service and in-depth knowledge of available loan programs, a good Realtor can insure that buyers and their agents are attracted to your property first.

3) The name of the game is not finding a prospective buyer for your home, but finding the right prospective buyer. The biggest mistake a private seller can make is taking their home off the market for an unqualified buyer, or one who has allowed a loophole in the contract. They are fooled by supposed "pre-qualification" letters that aren't worth the paper they are written on. Realtors are diligent about checking out the qualifications of potential buyers, knowing the right questions to ask, and how to identify potential trouble spots. Because Realtors prepare, negotiate and process sales contracts every day, they know what to watch out for in contracts.

4) There are at least a dozen junctures in the real estate transaction where working with a professional Realtor saves the seller money. Insuring that their clients don't pay excessive "junk fees" (fees charged by lenders that the buyer is, by law, not permitted to pay), coordinating timing to avoid duplicate or unnecessary mortgage payments, limiting liability and repair exposure, the list goes on and on. For many, simply access to their Realtor's network of reliable and affordable affiliates saves clients hundreds of dollars and a lot of headaches.

And, of course, this is not to mention the time involved to market, sell, and close a home.

Good Realtors are expert problem-solvers, and have the necessary training and experience to make sure that your home sells for top dollar, and gets to the closing table. Before you risk going it alone, you owe it to yourself to interview a professional.

I hope that I have enlightened & informed you!

Yvette Smith

Williamsburg's Preferred Realtor!

Last week, the Daily Press front page boasted a headline "Area Home Sales Down 23%!" Reporter Chris Flores went on to regale the grim declining housing market. If you read the article carefully, you could pick out the nuggets that should have made the headlines...such as

Hampton Roads Makes Top Ten of Least Riskiest Markets for Foreclosures!

or

Despite National Housing Slump, Local Area Median Prices Remain Steady!

or

Peninsula Real Estate Market Outperforms the State and the Nation!

But, no. Flores chose to lump together Peninsula housing statistics with Southside statistics, suggesting a far worse picture than the truth. Here is what you need to know: On the Peninsula, closings are down about 14%, a carry over from a sluggish final quarter of last year and slow start in 2008. And, pending sales are down less than 8%, suggesting that things are beginning to improve.

Sellers: Despite a drop in sales units, values have held steady. That means there is still time to capitalize on the equity growth that we all enjoyed during the recent boom cycle. You need a realistic expectation of lengthier market time and should be prepared to negotiate; however, moving up in the current market still has an upside.

Buyers: It's a great time to buy. Plentiful inventory, low interest rates, and sellers who are frightened by the onslaught of histrionic media hype about the market create an environment ideal for buyers.

Given the mortgage liquidity crisis that stalled the national economy last August, and the volatile economy that resulted, our housing market on the Peninsula has remained a shining bright spot. Consumer confidence is a key ingredient to keep our local economy and housing market in balance, no thanks to the Daily Press.

I hope that I've enlightened & informed you!

Successfully,

Williamsburg's Preferred Realtor!

Yvette Smith, SRES® REALTOR®
Liz Moore and Associates
5350 Discovery Park Boulevard
Williamsburg, Virginia 23188
(757) 753-7472 cell
(757) 645-2155 office
(757) 240-5674 fax
Licensed in Virginia

That's what you'll say after you see 207 THOMAS NELSON DRIVE in WILLIAMSBURG VIRGINIA!!!

Positioned perfectly on .46 meticulously landscaped acres. This brick ranch home offers 4 bedrooms, 3 baths! Yes, 3 FULL baths, now you won't find that anywhere in the colonial neighborhood of Skipwith Farms. Skipwith Farms is one of The City of Williamsburg's oldest neighborhood.

You will love the convenience, character and benefits of living in the City of Williamsburg Virginia. This includes free trash and leaf removal and no Homeowner Association dues!! Sounds good? Well, that's not all, 207 Thomas Nelson Drive has been extremely well cared for and the pride of ownership shows. Make it a point to see this home! I promise, you will not be dissappointed!

Allow me to share this beautiful Home For Sale in Williamsburg, VA!

I look forward to showing you this home. Call me for more information.

Successfully,

Yvette Smith, SRES® REALTOR®
Liz Moore & Associates
757.753.7472
Williamsburg's Preferred Realtor

The following report is a statistical view of the homes bought and sold in Williamsburg, VA from MARCH 1, 2008 TO APRIL 1, 2008.  This includes Residential property only and it is broken down into the 3 counties that make up Williamsburg, VA.

                                Units                 Volume                      Avg. Sales Price               Median Sales Price              Avg.  Days on Market
All Listings Sold:          70             $23,581,013                 $336,872                      $294,710                              113

James City Co             53             $18,702,613                 $352,879                      $299,900                              120
City of Williamsburg      7               $1,709,400                 $244,200                      $217,000                                73
York County               10               $3,169,000                  $316,900                      $276,000                              105

OK, now here is the previous month (February 1, 2008 to February 29, 2008) in Williamsburg, VA...

                               Units                Volume                           Avg.  Sales Price                   Median Sales Price          Avg. Days on Market
All Listings Sold:         70              $25,888,690                  $354,640                       $320,000                            144

James City Co            57              $19,866,290                  $348,531                       $320,000                            131
City of Williamsburg     7                $2,740,500                   $391,500                      $307,500                            250
York County                9                $3,281,900                  $364,656                       $389,000                            144

Last month, the average sales price of homes in Williamsburg, VA increased from February to March.  At the same time, the average days on the market decreased, which is a good thing (homes are selling faster than the previous month). 

As you can see the Real Estate Market is doing pretty well compared to other places in our nation.  NOW, is the perfect time to relocate or retire in Williamsburg, VA.  If you want to know more about Williamsburg, VA, consider giving me a call to assist you with your Real Estate needs!

I hope that I have enlightened and informed you!

Yvette Smith
Williamsburg, VA
www.athomeinwilliamsburg.com
757-753-7472