Longhill Station, James City County - The 2 1/2 story at 4016 Mill Dam Court has been sold.
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James City County, Virginia - The 2 story at 8400 Oldham Court has been sold.
Property information
Longhill Station, James City County - Announcing a price reduction on 4016 Mill Dam Court, a 1,829 sq. ft., 3 bath, 3 bdrm 2 1/2 story "Colonial". Now 
MLS® $254,900 - Excellent Value!.
Property information
• 1,829 sq. ft., 3 bath, 3 bdrm 2 1/2 story "Colonial" - MLS® $269,000 - Excellent Value!
Longhill Station, James City County - Perfect Starter Home! The interior of this home was left neutral. Very easy to for you to move in an make it your own! The three bedrooms are generously sized. The master bedroom offers a bath ensuite as well as a private toilet and walk in closet. An additional bonus room upstairs offers flexibility. This home boasts a formal dining room in addition to it's cozy breakfast nook. A front office and family room offer additional living space. One of the most delightful features of this home is its massive screened porch. Large enough to fit a sitting area as well as a dining area. This porch overlooks the flat, privacy fenced back yard. All baths are tiled and there is a floored attic space for storage. The neighborhood was recently redistricted to Matoaka Elementary and Blayton Middle. Longhill Station also has a neighborhood pool. Come take a look, you will not be disappointed.
Property information
Longhill Station, James City County - Announcing a price reduction on 4016 Mill Dam Court, a 1,829 sq. ft., 3 bath, 3 bdrm 2 1/2 story "Colonial". Now MLS® $269,000 - Excellent Value!.
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Impeccably Kept!
• 1,581 sq. ft., 3 bath, 3 bdrm 2 story "Transitional" - MLS® $264,900 - Priced to Sell!
Deer Run, Spotsylvania County - This house lives LARGE! The 20x20 Family Room anchors this charming residence. With a freshened, neutral decor, you can move right in! Boasting 3 bedrooms, 2.5 baths, upstairs laundry room, dining room, family room, and kitchen with large nook, you'll also enjoy the fenced, private rear yard that backs to trees. You are only steps away from the capital bike trail. The neighborhood is districted to excellent schools as well. This home is definitely worth taking a look at!
Property information
Earnest Money -Also known as the Escrow Deposit. This in money paid by the buyer at the time an official offer to purchase is submitted to the seller, inteded to demonstrate the good faith of the buyer to complete the purchase. Earnest money is applied against the purchase price when the sale is complete. The Earnest money may be forfeited if the buyer fails to complete the purchase under the terms of the purchase contract.
Easement-This is the right to use the land of another person.
Encroachment-This condition limits the interest in a title to property, such as deed restrictions, mortgage, unpaid taxes, easements, etc...
Equity Mortgage- A mortgage that is based on the equity in the borrower's home instead of on ther credit worthiness.
Escrow Amount- A third-party account used to retain funds, including the property onwer's real estate taxes, the buyer's earnes money, or hazard insurance premiums.
Exchange-The trading of equity of one piece of property for equity in a different property.
We'll cover "f" next week!
Balloon Mortgage: A short-term mortgage, generally at a fixed rate of interest, to be paid back in predetermined, equal monthly payments with a large final payment for the balance of the loan to be paid at the end of the term.
Broker: A person licensed to represent home buyers or sellers for a contracted fee. Brokers manage real estate offices and employ licensed agents to sell properties.
Bridge Loan: A short-term mortgage made until a longer-term loan can be made; it's sometimes used when a person needs money to build or purchase a home before the present one has been sold.
Building Codes: State and local laws that regulate the construction of new preoperty and the rehabilitation of existing property.
Cap: A limit on the total amount an interest rate can be increased in a specified time and over the lifetime of an adjustable-rate mortgage.
Capital Gains: The taxable profit derived from the sale of a capital asset. A gain is the difference between the sale price and the basis of the property, after making appropriate adjustments for closing costs, fix-up expenses, capital improvements, allowable depreciation, etc.
Closing: The final settlement at which time the title is transferred from seller to buyer, accounts are settled, new mortgages are signed, and all fees and expenses are dispersed or satisfied.
Closing Costs: All fees, taxes, charges, commissions, surveys, lender fees, inspection fees, and other costs paid by the buyer and/or seller at the closing.
Commission: A previously agreed upon percentage of the home's sale price paid to the listing and selling agents(s).
Comparables: Similar properties in type, size, price, and amenities that have sold recently, been adjusted, and are used for comparison in the appraisal report.
Condominium (condo): Real estate ownership in which a property owner has title to a specific unit but shared interest in common areas.
Contingency: A condition that must be satisfied before a contract is binding.
Contract: An agreement to do or not to do a certain thing.
Contract for Deed: A contract ordinarily used in connection with the sale of a property in cases where the seller does not wish to convey title until all or a certain part of the purchase price is paid by the buyer.
Contract of Title: A summary or digest of the conveyances, transfers, and any other facts relied on as evidence of title together with any other elements or records that may affect the marketability of the title.
Conventional Mortgage: Most popular home financing form not insured by Federal Housing Administrations (FHA) or guaranteed by Veteran's Affairs (VA). Available from many lenders at varying rates, terms, and conditions.
Conversion Clause: Clause in an ARM permitting conversion from an adjustable loan to a fixed-rate loan.
Counteroffer: An offer made by a buyer or seller to the other party, responding to the asking price or a subsequent adjustment to that price to complete a purchase of sale.
CRV: Certificate of Reasonable Value. A document of appraisal issued by VA establishing their opinion of the maximum value.
Curb Appeal: A term used by REALTORS that encompasses all that a buyer sees from the street that may induce the buyer to look more closely at the property.
Knowledge is power! A Glossary of Real Estate Terms will help you to untangle the complicated web of current real estate language.
I'll add weekly to my real estate glossary starting with "A" and ending with "Z" . Feel free to contact me with any questions regarding the local real estate market of Williamsburg Virginia.
Abstract of Title - The summary of the public records relating to the ownership of a particular piece of land. It represents a short legal history of an individual piece of preoperty from the time of the first recorded transer to present.
Acceptance - Consent to an offer to enter into a contract.
Adjustable Rate Mortgage (ARM) - A mortgage in which interest and payment rates vary periodically, based on a specific index, such as 30- year Treasury Bill or the Cost-of-Funds Index.
Adjustments - Money credited or debited to either/both buyer and seller at closing, including real estate taxes, association fees, gargage fees, rents, etc..
Agency - A mutual-consent, legal relationship in which a seller or buyer engages a broker-agent in the sale or purchase of property.
Agent/REALTOR - A licensed person who represents the seller (and/or buyer) and who provides market assessment, offers sales or buying strategy, recommends various services and sources important to the seller or byer, is a memeber of the National Assocations of REALTORS (NAR), and subscribes to NAR's strict Code of Ethics.
Ammortization - A method by which monthly mortgage payments are equalized over the life of a loan, despite the fact that the proportion of principal to interest changes.
Annual Percentage Rate (APR) - The total finance charge (interest, loan fees, points) expressed as a percentage of the mortgage amount.
Appraisal - A professional and unbiased written opinion of a property's value that is based on recent, comparable sales; quality of construction and current condition; and style of architecture.
Appreciation - Increase in value to any cause.
Asking Price - The price at which a property has been placed on the market for sale.
Assessed Value - The established value of a property has been placed on the market for sale.
Next Up "B" terms!
Negotiations for the sale of a home can be affected by emotional factors. For example, it is easy to be offended by someone who is making an offer on your property. Even if the buyers love your house, they are trying to negotiate the best possible price and terms. They probably will not let you know how much they want your home until they have negotiated a purchase agreement.
Buyers almost never write offers that please the sellers entirely. Offers and counter offers may be traded back and forth over days or weeks. Terms of the sale will be discussed and deadlines will be set. When there is finally a meeting of the minds, both sides may feel relieved but exhausted by the process. One of a real estate agent's most important jobs is to act as the intermediary during such negotiations. With our knowledge of financing, negotiation procedures, and the tax laws affecting real estate sales, we come up with creative solutions to the challenges that may arise.
Your real estate agent has just brought you an offer on your home, and you want to think about it. You would like your agent to contact the other people who have shown an interest in your home. Whether your home has been listed for three days or three months, there is always a desire to hold out for a better offer, and sellers can feel considerable resistance to making a decision.
Some buyers will include in the offer a deadline for getting a response, but the seller should respond to an offer quickly even if a deadline is not specified. The interval between when an offer is submitted and when a response is made is a crucial period because the buyers are free to withdraw from the transaction during this time. Even though they are mentally landscaping your yard and arranging their things in your rooms, they may also be afraid that they will get the house, and are, therefore, extremely vulnerable to buyers' remorse.
Your best bet as a seller is to already have had a number in mind that would be acceptable to you. This will help move the acceptance process along. With the economic climate of today being in the buyer's favor, It is wise to consider any fair/reasonable offer that would allow you to move on comfortably.
There are so many things that must be done before the big moving day! Here is a helpful list to assist with the process!
Transfer or cancel deliveries of newspaper, garbage collection, etc...Coordinate the transfer of your gas and electric services to the new homeowners. One of the benefits of purchasing a home through Liz Moore is that we coordinate the hookup of the utilities of your new home FOR YOU!
Check on personal items that may be in a safe-deposit box, at a neighbor's home, on layaway, or something you may have being repaired.
Arrange for the transportation of your plants and pets.
Keep the phone book from your former residence for tying up loose ends or for future correspondence.
Transfer insurance policies and arrange for the new policies to take effect.
Personally gather all valuables, jewelry, and important papers. Plan to move these items yourself.
If you're driving to your new home, make sure your car has been serviced for the trip.
Just in case you arrive before the movers, you should pack an arrival kit full of necessities.
Purchase moving insurance! Most movers liability for lost or damaged goods will not come close to replacement cost.
If you're crossing state lines, check with an attorney about your will.
Ask me for professional referrals. (Doctor, Dentist, etc.)
Let everyone know that you've moved and provide them with your new address: post office, banks, charge accounts, subscriptions, relatives and friends, national and alumni organizations, mail order clubs, church, and your past employer to ensure receipt of W-2 forms and retirement-account information.
You can use old address labels when filling out change-of address forms for your new address. A real time saver!
When a real estate agent begins to work with a new buyer, we will sit down with you, ask a number of questions, and listen carefully to your answers. Our purpose during this initial interview is to explain the laws of agency to you as well as get a clear idea of what kind of property or home you are looking for and your approximate price range. We explain how we will function as your real estate representative, what the local home buying market is like, and what we can do to help you locate that perfect home. As a buyer you should always hire a buyer’s agent to represent your best interests. A buyer’s agent ensures your interests are looked after and could save you significant amounts of money in the long run than if you do not have one.
This is very important when it comes to new construction sites. Be aware that once you sign in to a new construction site that you very well may have just signed away your right to your own representation. So even before looking at new Williamsburg real estate on your own, it would be beneficial to have a buyer’s agent with you. The sales representative at the homesite represents the builder and their job is to get the builder the most they can. You will not save any money buying a home without a buyer's agent. In fact, you may lose some money if you do not!
It is important for you as a prospective home buyer to be as clear as possible about your real estate needs. After we have talked and you have decided how much you can comfortably spend, we will know how to facilitate your home search. We won't take you through a three-story colonial with a top floor master suite if you want to avoid climbing up and down stairs! Establishing clear communication with our clients helps us save you hours of unfocused house hunting. It's the only way!
Trying to sell a home in this "buyers" market is hard! Trying to sell your overpriced home is virtually impossible! What is the impact of overpricing your home with the current market conditions?
You are helping your competition sell their home.
It reduces the activity of showings.
The advertising response will be reduced.
You will send interested buyers to other properties.
The wrong prospects are attracted to your property.
The chance of getting an offer is slim to none.
It can cause a problem with the appraisal!
Extends the time it will be on the market.
It is a mistake to believe that you'll get more for your home by asking more money. Having your home priced well in this market is invaluable.
Contact me for a free market evaluation of your Williamsburg VA home today!
Andrea Pokorny, Realtor
http://www.williamsburghomefinder.com
Let's face it, no one likes surprises when it comes to showing their Home! Unfortunately, in this current market it is imperative to be ready at a moment's notice. What can you do to get "ready in a jiff"? Before you get started...if you have some vanilla, warm it on the stove to give your home a welcoming scent. Don't forget to put it away before your showing occurs.
1. Make sure that your front door presents well. Sweep your steps, freshen porch or stoop plants by the door, dust cob webs or dirt away from the door if necessary.
2. Quickly pick up any out of place objects and store them away out of sight.
3. Turn on lights.
4. Pull open all window treatments to let in the best possible natural light.
5. Throw any dirty laundy inside the washing machine.
6. If you have time to run a vacuum or a quick sweeper, do so! The fresh look it gives your floors will be worth it.
7. Give counters and tabletops a quick wipe down.
We would all love to have our homes in show room condition 24/7, but we also know that we must live there! Do your very best to make sure that your home is presented in its very best light. But more importantly, make sure that every potential buyer has a chance to see it..Accomodate showings whenever feasibly possible.
If you are looking for a new home in Williamsburg or elsewhere, it is important to communicate with your real estate agent about any special aspects of your lifestyle that will influence your choice. This information will help your agent to locate the perfect home for you and your family.
Are you a gourmet cook who loves giving lots of parties? Do you want space to accommodate hobbies such as painting, photography, or woodworking? Will your decision be influenced by the accessibility of a community gym, a golf course or tennis courts? Does your son need space to rehearse with his rock band? Do you need a home office? Are you planning to enlarge your family? Is there someone in your household who cannot climb stairs?
Knowing the significant factors that will influence your housing decision helps us to narrow the selection of homes on the market.
Help us to help you!
Andrea Pokorny, Realtor
Liz Moore & Associates
http://www.williamsburghomefinder.com
Licensed in the State of Virginia