Williamsburg, VA

Snow in Williamsburg

We had snow in Williamsburg during the last weekend of January and the first week of February, yes I said snow in Williamsburg in Virginia!

It was so beautiful when we woke up and saw that snow had covered everything! The latest storm (February 6, 2010) left a layer of ice on the tree branches and snow piled up on the branches of evergreen and pine trees. It was absolutely spectacular!

The trees that were covered in ice sparkled like diamonds in the sun!

But alas the sun began to melt the beautiful ice and snow in Williamsburg quickly.

So my hubby and I jumped into his 4 wheel drive (he is a self proclaimed redneck) and headed down to Colonial Williamsburg to take pictures before all of the beauty melted away.

The photo above is of some of the homes and shops on Duke of Gloucester street. The Bruton Parrish Church steeple can also be seen above the roof lines of the homes and shops.

For more photos of the snow in Williamsburg click here.

For more information about the Williamsburg area check out my blog, or my website.

In this blog you will find some data on active listing in the Williamsburg area during 2009, you will also see some practical ways that this data can help you with one of your greatest investments, your home.

The first chart includes the number of residential units sold in 2009 as well as the number of homes that went pending in 2009. To see this chart from the Williamsburg MLS click here. It is important that you note that the data includes houses sold in areas that would be considered outside of the Williamsburg area, areas such as Chesterfield, Henrico, Matthews, West Point, Surry, Chesapeake, Norfolk and Virginia Beach, Newport News, Hampton and Gloucester.

Click on this link for cumulative totals of homes sold in 2009 that were listed in the Williamsburg MLS. The cumulative totals include the city of Williamsburg, as well as James City County, York, New Kent and Charles City Counties. The counties included share a border up with either Wiliamsburg or James City County.

While lots of people want to see statistics for real estate activity in their area, they may not know how to practically use it.

Here are a few ideas:

• Days on the market is a good indicator of how long it will take to sell a home in Williamsburg area
• Median and average sold price indicate what price home in is selling in the Williamsburg area most often
  
• The number of active listings in the Williamsburg area shows how many homes buyers can choose from

For more interesting data about the Williamsburg area real estate market click here.

Homes for sale in Williamsburg are priced lower than they have been in years! In many areas the home prices are lower than they were in 2004 or 2005.

I often have people ask me if the home sales in Williamsburg are picking up and I try to be honest with them about my observations about our real estate market in Williamsburg, Virginia.

Some property owners who ask about home prices in Williamsburg seem very discouraged when I tell them that I don't think their home's value is going to start increasing significantly very soon. Based on historic trends in home sales and the predictions of many economists, I believe it may be three to five years before we see home prices in Williamsburg rise significantly.

Real estate trends have always been cyclical and history tells us that the cycles tend to last for about seven years. The last "up cycle" that we experienced was longer than normal and prices escalated at rates that our economy could not support. What we all need to accept, whether we like it or not, is that the value of our homes have more than likely dropped from what they were at the height of the market in 2005 or 2006.

Remember that all real estate is local. I posted a blog about home sales in Williamsburg a few months ago. I noted that the values of homes in some areas have remained relatively stable, while in other subdivisions they have dropped dramatically. To read this blog click here.

If you are considering buying a house within the next couple of months, you should probably buy now while the prices and interest rates are low.

The belief by many economists and mortgage professionals is that interest rates will start to rise in 2010.

So, if you are going to buy and plan to stay in the house for at least three to five years, then you will probably see your property's value increase. If you get an especially good buy, the value of your home may increase more quickly.

A recent blog noted the homes sales in the Williamsburg area during each calendar year for the past decade.

The data was definitely eye opening. Now as a Williamsburg homeowner you may be wondering what is my home worth in today's real estate market.

Let's analyze this data.

According to the Williamsburg MLS:

• 2103 residential homes were listed for sale during 2009
• 925 homes sold in 2009
  

That means:

• 1 in ever 2.3 listings sold in Williamsburg
  
• 44% of listings sold in Williamsburg

If you are considering trying to sell your home in 2010 you need to be aware of additional factors that will affect the sale of your home:

• According to some economist's predictions inflation is inevitable in our economy
  
• Interest rates are climbing
  
• FHA loans have more stringent guidelines for potential borrowers
  
• The Federal Tax Credits that are currently available for houses are in effect through April 30, 2010
  
• We have undoubtedly not seen the last of the foreclosures and short sales

If you have a question or would like more information about Williamsburg and the housing market click here.

Are you a new resident of or thinking of moving to the Williamsburg area? This website is full of helpful information.

The Williamsburg area also includes James City County so if you are interested in a new resident information, click on this link.

Do you want to see what is happening in Colonial Williamsburg right now? This link will show you. You will find more helpful links on the right side bar of this blog.

If you love history and the beauty of nature, Williamsburg Virginia is for you so why not stop dreaming about moving to the Williamsburg area, call Sybil Campbell today.

The swans in the photo come to Powhatan Creek every year. My husband estimates that they have a wing span of over seven feet.