About James City County, VA

If you are interested in purchasing investment property in Williamsburg Virginia you should be aware of the laws in James City County which affect rental properties. In James City County, is is illegal for more than three unrelated people to live in a house together. Allowing more than three unrelated people to live in one dwelling may eventually become a reality in the city of Williamsburg, but the administrative hoops and the cost landlords will face are likely to discourage conversion of existing properties. Stay tuned for updates about this law and other laws affecting rental property.

Some complexes also have a rental cap. That means that they only allow a certain percentage of properties within that complex to be rented.

No matter where you are thinking of investing in property, you should check out the local laws related to rental and investment properties.

Location, Resale and Staycation: Three New Buzzwords for Real Estate

By: Elaine VonCannon, ABR, SRES, REALTOR, NOTARY, PROPERTY MANAGER, TEAM LEADER, AWARD WINNER, RE/MAX Hall of Fame

For those who are buying a home right now, there are several important details on locating the best property that are being ignored and must be considered. Many homebuyers are looking for a primary residence. First time homebuyers are searching for a home to live in this year in order to take advantage of the $8,000 tax credit.

As I take homebuyers out in search of a residence, I have noted a pattern of behavior that is becoming more and more common. Homebuyers are looking for the deal of the century. They are basing their buying decisions solely on price. Yet as they focus on the best price that can possibly be negotiated, (which does matter) they lose sight of other parameters that need to be applied to the purchase of a home.

Purchasing a home in the right location for a person's chosen lifestyle, and eventual resale value, should be paramount in the homebuyer's mind. Yet price continues to be the main focus in buying property.

Short Sales and Foreclosures: Property Pricing Realities

It is true that pricing has been reduced on homes, especially in some of the larger markets, such as California, Florida, and urban markets -- where values have fallen dramatically. According to an article published by Les Christie on Money.com, "nearly 20% of the nation's home sales in 2008 were of bank-repossessed properties. Another 11% were short sales, in which homeowners owed more in mortgage debt than their homes were worth."

Between foreclosures and short sales there are good home buying deals to be had, but home buyers must remember that on these types of purchases banks will generally not go below 20-25% of appraised values.

In the case of purchasing foreclosed properties, homebuyers should be cautious about the condition of the home. If a homebuyer is purchasing a foreclosed property, it is wise to enter into the deal with capital for improvements, because these homes have been neglected due to lack of money. Some foreclosed properties have been intentionally damaged by angry homeowners who have had to abandon their homes under stressful financial circumstances.

With regard to short sales on homes, banks may take up to six months to approve a short sale. Some lenders are folding in the middle of the process, which adds more time to complete a short sale, because negotiations must begin again with the new lender.

Short sales and foreclosures do factor into property pricing. When a home in a neighborhood is sold for less than it is worth, pricing drops in that neighborhood.

So, with pricing in many markets at a three to five year low, why do home buyers continue to focus only on a great deal? Why have the cardinal rules of real estate purchases been pushed to the side? Location, resale values and lifestyle, which I refer here to as staycation, are just as important as price.

I will give an example of some of the major markets where I sell real estate, James City County, Williamsburg and Norfolk, and give a brief overview of how the rules of real estate purchase apply in these markets.

Williamsburg and James City County

For the avid golfer or person entering retirement, or even the family looking to raise children in a good schhool district, Williamsburg and James City County offer a wonderful lifestyle. There are numerous golf courses, dining, entertainment and continuing education opportunities. In addition Williamsburg and James City County offer one of the top school districts in Southeastern Virginia. In my experience over the long-term selling real estate in this market, resale values remain strong in well-established neighborhoods. In an age where the staycation, or staying at home during scheduled vacations, is becoming more common, Williamsburg has plenty of choices for quality entertainment. These include Busch Gardens and Water Country USA, Jamestown Settlement, the Colonial Williamsburg Foundation, and numerous outdoor festivals and events that are free and open to the public. All of these factors should inform the purchase of a home in the Williamsburg and James City County real estate market.

Economic, Commercial and Residential Development in Norfolk, VA

In Norfolk, Virginia, where I have closed several residential property deals recently, the opening of a light rail system with stations in Ghent, downtown, and South Norfolk, has created tremendous real estate opportunities in both the residential and commercial sectors. In neighborhoods where light rail train stations will be located, resale values on properties purchased are sure to rise eventually. There are several reasons for this upswing in value. Urban professionals and families are embracing this state-of-the-art transportation system, and public and private organizations and investors are preparing for the influx of new traffic by updating existing properties and committing to building new projects. Taking light rail will cut down on time spent in traffic jams, and leave more time for recreation and spending time with loved ones - a desirable lifestyle for many. With access to Chesapeake Bay Beaches, the Elizabeth and Lafayette Rivers, boating, swimming and recreating on or near the water are widely enjoyed in Norfolk, a world-class port city. Waterside is a main staging area for national and international festivals, and new light rail stations will be located nearby. Norfolk is an excellent place for a staycation. All of these factors should inform the purchase of a new home in this location.

In summary, location, resale, and lifestyle need to come to the forefront once again when individuals are deciding on where to purchase a home. Price will always be an important factor in the purchase of a home, but it should not be the only deciding point.

Elaine is a published author on real estate both commercial, residential and property management. Her articles are on her web sites for you to read and enjoy. Visit www.elainesrealestateinvirginia, www.voncannonrealestate.com and www.estatesinvirginia.com

What you need to know about waterfront property in Williamsburg Virginia

When my husband and I relocated to Williamsburg in 2002 we knew that we wanted waterfront property. We looked at several areas near Williamsburg. One of the places that we considered was on the York River. The view was absolutely georgous. Fortunately someone told us that the York River at that area was a mud flat and that a dock or pier that would accomodate a boat would need to be several hundred feet out into the river. We estimated what it would cost to build and maintain a dock of several hundred feet; a pier would have cost a minimun of $100,000. That was a deal breaker for us.

We also looked at some property on the Chickahominy River. The "Chick" as locals call it is a beautiful river with good water depth. Most docks on the Chick are not more than fifty or sixty feet from the shore. The Chickahominy is a great river for playing, skiing, riding jetskis and fishing. There is one place in the Chick where there are sandbars pretty far out from shore. On the weekends in the summer lots of boaters anchor, get out of their boat and walk around sharing stories, food and beverages. It is a unique experience to be standing in water that is about 2 to 3 feet knowing that an 80 foot channel surrounds you and the closest shore is about 1000 feet away. The Chick empties into the James River. The subdivision Governor's Land at Two Rivers is situated where the two rivers meet and thus the name.

We have found that the best way to learn about the creeks and rivers around here is to own a boat and go exploring. If you are moving to this area and want to purchase waterfront property, I will be happy to share with you the knowledge that we have gleaned.

Another important issue with waterfront property is the environmental impact and any regulations that apply. In this area of Virginia, all waterfront property is protected by the Chesapeake Bay Preservation Act and all waterfront properties contain an RPA (resource protection area). To learn more about the Chesapeake Bay Preservation Act, click on the link below: http://www.dcr.virginia.gov/chesapeake_bay_local_assistance/theact.shtml

The New Town community in James City County/ Williamsburg, VA offers a unique combination of shops, entertainment, a vibrant office environment and a plethora of housing options to appeal to all segments of the population

New Town in Williamsburg, VA has raised the bar on complete living, meeting all of the needs of the community, businesses and residents alike.

See a current list of homes for sale in New Town

As of today I counted 22 different places to eat in New Town. There should be a place for everyone's taste. It includes : artcafe26- A Touch of Europe in Williamsburg, Barnes and Noble Booksellers, Bonefish Grill, Buon Amici- Italian Restaurant & Gourmet Pizzeria, California Tortilla- Specialty Burritos Are Our Specialty, Center Street Grill- Where traditional tastes are fused with new world flavors., Cheeburger Cheeburger- Big is Better, CoCo Chocolatier & Creperie- Williamsburg's Premier Chocolate, Fondue and Crepe destination, Great Harvest Bread Co.- Williamsburg's Whole Grain Headquarters, Green Leafe New Town- Good Beer. Good Food. Good People., HARBOUR COFFEE- YOUR community coffeehouse and specialty roaster, Ichiban- AUTHENTIC CHINESE CUISINE AND OUTSTANDING SUSHI, Maggie Moo's Ice Cream, New Town Avenue Coffee & Tea- New Town Ave. Coffee and Tea, Opus 9 Steakhouse- Casual Elegance, Personalize Service, Relaxed Sophistication, Panera Bread- Bakery-Cafe: Breakfast, Lunch, Dinner, Catering, Parletts- Parletts - Cards Stationery Gifts, Quiznos Sub-, Thaipot- Thai Cuisine, The Corner Pocket- Food, Billiards, Entertainment, The Short Stop Market- ‘Your Neighborhood Market and Deli, Z Pizza- Now Open!

As a local REALTOR working in New Town I would be happy to assist you in finding a home here.

Read more about New Town HERE

1. Windmill Meadows- New Home Community in Williamsburg VA

I just posted an artice about the new homes in Windmill Meadows in James City COunty/ Williamsburg VA.

Associated Developers and Beamon Construction have opened a new community off of Centerville Rd in Williamsburg James City County Virginia.
The Village at Windmill Meadows is a 40 acre community with new homes starting from the $400,000's . Originally the site of a farm. The old windmill from that farm has been restored and now stands sentry at the entrance to the neighborhood.

Seventy Eight new homes are slated for construction. The two models are finished and available for viewing

Search homes for sale in Windmill Meadows in Williamsburg/ James City County , Virginia

You can read the full article here

Search all Williamsburg VA homes for sale in the WAAR WMLS here