Home Buying Hampton Roads

Want to Buy a Home in Williamsburg, VA … Now is The Time!

Congratulations to Clinton and Jessica, who closed on their new home in February! We had a great time house hunting for their dream home on 4 acres in New Kent where they can have horses and plenty of room for kids to roam. They got a deal on the house and a great interest rate (only 4% on a VA loan!). It’s a great time to buy!

I am a REALTOR with Liz Moore & Associates Also; I am part of the Liz Moore & Associates’ Military Team which specializes in homes for sale in James City County, Newport News, Hampton, York County, Poquoson, and Williamsburg, VA as well as surrounding markets. I offer Active Duty friendly support to families relocating to Langley Air Force Base, Ft. Eustis, Yorktown Naval Weapons Station, and Cheatam Annex. When you PCS to Hampton Roads, VA you will find that I understand that when a family member joins the military, the entire family belongs…thank you for serving our Country, and I look forward to serving your real estate needs!

When you are transferring to Langley AFB, Ft. Eustis, Yorktown Naval Weapons Station or Cheatam Annex, if you’re interested in buying a home for sale call 757-651-3763 e-mail me at jenniferhernandez@lizmoore.com

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The Time is now to Purchase a Home in Williamsburg, VA!

By:  Williamsburg Military Insider

Although in the past 12 months real estate inventory levels in Williamsburg have begun to shrink somewhat slightly, historically we still have an excellent selection. The best time to purchase your home is now, while the Williamsburg market provides the best combination of price and selection.

One of the most attractive benefits of purchasing a home today is the above average number of choices available.

If you are buying a new car, computer, lap top, refrigerator or any other consumer good, you can delay the purchase while looking for a lower price. Whether you are right or wrong about the future price of an item, you are still able to purchase that same item later. A home purchase is unlike any other acquisition a family can make. Homes are very personal. Your home is where your family lives. Different upgrades, the location, lot shape and size, orientation on the lot, and a host of other details are unique to the locale.

When more choices are available, you have a much better chance of finding the right home with more of the features you really want at an excellent price. As real estate prices rise again, buyer demand causes home inventory levels to drop. This makes it very difficult to find a home with the features you desire. Do not be left out of the booming home market. Check out the Williamsburg Listings today!

I am a REALTOR with Liz Moore & Associates Also; I am part of the Liz Moore & Associates’ Military Team which specializes in homes for sale in James City County, Newport News, Hampton, York County, Poquoson, and Williamsburg, VA as well as surrounding markets. I offer Active Duty friendly support to families relocating to Langley Air Force Base, Ft. Eustis, Yorktown Naval Weapons Station, and Cheatam Annex. When you PCS to Hampton Roads, VA you will find that I understand that when a family member joins the military, the entire family belongs…thank you for serving our Country, and I look forward to serving your real estate needs!

When you are transferring to Langley AFB, Ft. Eustis, Yorktown Naval Weapons Station or Cheatam Annex, if you’re interested in buying a home for sale call 757-651-3763  or e-mail me at jenniferhernandez@lizmoore.com

Curious How Local Lenders Verify Employment for Active Duty Service Members in Willilamsburg?

By:  Williamsburg Military Insider

After just personally going through a refinance of our home with a VA Loan, I was reminded of how lenders verify employment for Active Duty Service Members. Verifying a prospective homebuyer’s employment is one of the key steps of the loan process.

VA lenders need to ensure a borrower has a steady, reliable income stream that’s likely to continue and that covers their future housing needs. For veterans, military spouses and others, lenders will send a Verification of Employment (VOE), an official VA document, to past and current employers.

But the process is a bit different for prospective homebuyers still actively serving in the military.

Different Paperwork
Lenders will require a Leave and Earnings Statement (LES) instead of a VOE for active service members. It contains the same basic financial information. Active duty members can acquire their LES online by using the MyPay portal at https://mypay.dfas.mil/mypay.aspx.

Base pay counts as stable and reliable as long as the service member isn’t within a year of release from active duty. Lenders can also include as effective income a service member’s Basic Allowance for Housing and occasionally other military allowances — clothing, flight pay, combat pay and others — provided they’re verified and expected to continue.

Service members within a year of their release from active duty or the conclusion of their contract term can present a unique challenge.

Nearing Discharge
If their discharge date falls within 12 months of the anticipated date of their loan closing, the lender has to take a few extra steps to satisfy the VA. It makes sense, considering there may be uncertainty regarding the type of job and income that awaits the recently discharged veteran.

Given those potential question marks, lenders typically have to document at least one of the following four elements, if not more:

• That the service member has already re-upped or otherwise extended active duty service beyond that 12-month window, or
• The service member has a legitimate job offer in the civilian world (information about earnings and other standard data has to be included), or
• Significant underwriting factors that compensate for uncertainty, such as a down payment of at least 10 percent or noteworthy cash reserves, or
• A written statement from the service member declaring his or her intent to reenlist or extend service, along with
• A written statement from a commanding officer confirming the member’s eligibility to reenlist or extend service and that it’s likely to go through.

I am a REALTOR with Liz Moore & Associates Also; I am part of the Liz Moore & Associates’ Military Team which specializes in homes for sale in James City County, Newport News, Hampton, York County, Poquoson, and Williamsburg, VA as well as surrounding markets. I offer Active Duty friendly support to families relocating to Langley Air Force Base, Ft. Eustis, Yorktown Naval Weapons Station, and Cheatam Annex. When you PCS to Hampton Roads, VA you will find that I understand that when a family member joins the military, the entire family belongs…thank you for serving our Country, and I look forward to serving your real estate needs!

When you are transferring to Langley AFB, Ft. Eustis, Yorktown Naval Weapons Station or Cheatam Annex, if you’re interested in buying a home for sale call 757-651-3763   or e-mail me at jenniferhernandez@lizmoore.com

Moving to Williamsburg? It is a Buyer’s Market…A Few Tips Before You Get Started.

by: Williamsburgmilitaryinsider.com

Maybe the thought of brown boxes and overflowing moving trucks sends you into hysteria, yet the fact is it’s a buyers’ market. Whether you’re looking for your first home or looking to upsize, at your new PCS location this is the time to take advantage of declining home prices. In addition to affordable home prices, U.S. 30-year fixed-rate mortgages are near an all-time low. This combination makes it the perfect time to buy a home.

Before you load of your household goods, the kids, the dog and every little item you
ever, there are a few things you should know about buying a home.

Understand Your Credit Score

Who would have ever dreamed that three numbers could stand in the way of buying a
home? This score determines whether or not you can get a mortgage and the interest rate, which you pay monthly. Your credit score is a lot like a worn down suitcase. It’s filled with your payment and credit history that you more than likely want to forget. But there’s no hiding it, this suitcase will haunt you as long as you live. Credit scores range from 300 to 850. If you have a score below 700, you may have more trouble finding a lender.

If your credit score isn’t as squeaky clean as you would like it, there are ways to boost those numbers. An obvious way to do this is to pay your bills on time. The quicker you pay off your bills and lower the balance on credit cards can benefit your score. To track your own credit score, visit with a local lender  or go to myFICO.com to see where your credit score
stands.

Be Realistic With What You Can Afford

A qualified mortgage lender will pre-approve you for a certain amount to finance
a home, yet this does not mean go out a buy a home at this price. You may not be able to afford it. Alongside utilities, property taxes, home insurance and possible HOA fees, this price may be too high. Sit down with your family and plan out other expenses involved in owning a home, you do not want to be house poor. You want to be able to enjoy life.

Research Movement in Price

Just because the “For Sale” sign has a listing price, doesn’t mean you’re stuck at that price. Before making any type of offer, have your Realtor research the movement in price. Check out how many times the sale price has been reduced. If the price has been reduced multiple times, you have an eager seller. These sellers are more than likely to accept a lower offer and will want to sell quickly.

Is the Builder Reliable?

If you’re looking into new construction, look for a reputable company, one that has been in business for a few years and has a proven track record. If you are questioning your builder’s credibility, search their name on the BBB, Better Business Bureau, website to see past reviews and the rating on their business practices. During your sit down with your builder for preliminary plans, read everything. Have your Realtor with you to help with the questions.  Don’t be afraid to ask questions, this is your house they are building.

What’s the School District Like?

Although the number of bedrooms and bathrooms play a very important role in making a
home purchase, the school district in which this home is within is just as important. You want your kids to go to a reputable school, and this too will affect re-sale price. Do some research on these schools, kindergarten through high school, check the graduation rates and talk to people in the community. Great Schools.org is a great starting point.

Whether buying a new home is a practical decision for you, you must do your research
and think about all aspects beyond the front door. Take advantage of your realtor’s knowledge and the community. Find something that works for every member of the family and just like a book; never trust a home by its exterior.

I am a REALTOR with Liz Moore & Associates Also; I am part of the Liz Moore & Associates’ Military Team which specializes in homes for sale in James City County, Newport News, Hampton, York County, Poquoson, and Williamsburg, VA as well as surrounding markets. I offer Active Duty friendly support to families relocating to Langley Air Force Base, Ft. Eustis, Yorktown Naval Weapons Station, and Cheatam Annex. When you PCS to Hampton Roads, VA you will find that I understand that when a family member joins the military, the entire family belongs…thank you for serving our Country, and I look forward to serving your real estate needs!

When you are transferring to Langley AFB, Ft. Eustis, Yorktown Naval Weapons Station or Cheatam Annex, if you’re interested in buying a home for sale call 757-651-3763 or e-mail me at jenniferhernandez@lizmoore.com

Tick or Treat! The Top10 HAUNTED HOMES for sale!

In my quest for the home of the week this week. I came across some amazing homes. The team at TopTenRealEstateDeals.com spent many hours  searching websites and talking to paranormal experts, ghost tour guides and real estate agents all across the United States to find the 10 scariest homes that are currently for sale. There are some fabulous homes available.  Take a look at these haunted homes from across the country.

I am a REALTOR with Liz Moore & Associates Also; I am part of the Liz Moore & Associates’ Military Team which specializes in homes for sale in James City County, Newport News, Hampton, York County, Poquoson, and Williamsburg, VA as well as surrounding markets. I offer Active Duty friendly support to families relocating to Langley Air Force Base, Ft. Eustis, Yorktown Naval Weapons Station, and Cheatam Annex. When you PCS to Hampton Roads, VA you will find that I understand that when a family member joins the military, the entire family belongs…thank you for serving our Country, and I look forward to serving your real estate needs!

When you are transferring to Langley AFB, Ft. Eustis, Yorktown Naval Weapons Station or Cheatam Annex, if you’re interested in buying a home for sale call 757-651-3763 or e-mail me at jenniferhernandez@lizmoore.com

I am Active Duty Military…Should I Buy or Rent in Williamsburg, VA and the Hampton Roads Area.

by Williamsburg Military Insider

With record low mortgage rates and housing prices remarkably low, it may be a very attractive time for Active Duty Military to buy a home in the Williamsburg/ Hampton Roads area. However, before you decide to take the plunge, think thoroughly. There are several factors you should consider ahead of time very carefully. First, how long do you expect to be in your new location? If you are only going to be somewhere for a year or two, depending on the location renting may offer the most flexibility with the least risk. Second, assess the market conditions of the new location carefully. Have your Realtor share the rental trends. If you are planning on retiring or pursuing a civilian career after moving, you may consider purchasing a home because you will be there long enough to realize a gain in your investment.

In any event, nothing is guaranteed but thinking it out ahead of time will keep
save you from making a potentially costly mistake. Also, keep in mind that you may not always be comparing apples to apples. The house you are buying and the house you are renting are rarely comparable. Trying to predict the future of home prices or mortgage
rates, both of which would impact, the rent–versus-buy decision can be just as challenging. Consider your gut as well as the numbers. You do need to be rational about the choice, but it is also based on your feelings about the kind of life you want. The Ginnie
Mae Calculator
compares the advantages and considerations of owning vs. renting a home.

I am a REALTOR with Liz Moore & Associates Also; I am part of the Liz Moore & Associates’ Military Team which specializes in homes for sale in James City County, Newport News, Hampton, York County, Poquoson, and Williamsburg, VA as well as surrounding markets. I offer Active Duty friendly support to families relocating to Langley Air Force Base, Ft. Eustis, Yorktown Naval Weapons Station, and Cheatam Annex. When you PCS to Hampton Roads, VA you will find that I understand that when a family member joins the military, the entire family belongs…thank you for serving our Country, and I look forward to serving your real estate needs!

When you are transferring to Langley AFB, Ft. Eustis, Yorktown Naval Weapons Station or Cheatam Annex, if you’re interested in buying a home for sale call 757-651-3763  or e-mail me at jenniferhernandez@lizmoore.com

Affordable Housing Incentive First Time Home Buyers In James City County…Williamsburg, VA.

By: Williamsburg Military Insider

James City County’s First-Time Homebuyers Program has several
single family homes for sale in the Ironbound Square Neighborhood. The program offers qualified homebuyers grants for up to 10% of the purchase price for down
payment assistance, forgiven after 10 or 15, years available before Oct 31.  Grants for up to $7500.00 forgiven after five years, are available on a first come, first served basis until the end of the year. Eligible homebuyers must meet credit guidelines and have an
annual household income between approximately $ 38,000.00 and $81,000.00. The
homes range in size from 1,000 to 1,645 square feet, the energy-efficient homes
feature up to four bedrooms and 1 ½ to 2 ½  bathrooms are prices from
$155,000.00-$210,000.00. The office of Housing and Community Development also
offers Homebuyer Counseling and VHDA- approved First-Time Homebuyer Education
classes.  For more information you can contact Housing & Community Development at 757-259-5340 or visit www.jccEgov.com/housing

I am a REALTOR with Liz Moore & Associates Also; I am part of the Liz Moore & Associates’ Military Team which specializes in homes for sale in James City County, Newport News, Hampton, York County, Poquoson, and Williamsburg, VA as well as surrounding markets. I offer Active Duty friendly support to families relocating to Langley Air Force Base, Ft. Eustis, Yorktown Naval Weapons Station, and Cheatam Annex. When you PCS to Hampton Roads, VA you will find that I understand that when a family member joins the military, the entire family belongs…thank you for serving our Country, and I look forward to serving your real estate needs!

When you are transferring to Langley AFB, Ft. Eustis, Yorktown Naval Weapons Station or Cheatam Annex, if you’re interested in buying a home for sale call 757-651-3763  or e-mail me at jenniferhernandez@lizmoore.com

$5000.00 Grants for First-Time Military Home Buyers

By: Williamsburg Military Insider

Active Duty personal, veterans, retired members of the military, and employees of the U.S. Department of Defense  and the Department of Homeland Security are eligible to apply for up to $5,000.00 in down payment and closing costs in the purchase of a first home.  The national nonprofit Pentagon Federal Credit Union Foundation is offering the assistance through its Dream Makers program and says the grants can be applied to a mortgage from any financial institution. More info is at  the Pentagon foundation Website ,  Click  on the ” Dream Makers” Link.

I am a REALTOR with Liz Moore & Associates  Also; I am part of the Liz Moore & Associates’ Military Team    which specializes in homes for sale in James City County, Newport News, Hampton, York County, Poquoson, and Williamsburg, VA as well as surrounding markets. I offer Active Duty friendly support to families relocating to Langley Air Force Base, Ft. Eustis, Yorktown Naval Weapons Station, and Cheatam Annex.  When you PCS to Hampton Roads, VA  you will find that I understand that when a family member joins the military, the entire family belongs…thank you  for serving our Country, and I look forward to serving your real estate needs!

When you are transferring to Langley AFB, Ft. Eustis, Yorktown Naval Weapons Station or Cheatam Annex, if you’re interested in buying a home for sale call 757-651-3763  or e-mail me at jenniferhernandez@lizmoore.com

I am Active Duty Military …Why should I get a VA loan over other types?

By: Williamsburg Military Insider

Simply put, a VA Home Loan allows qualified buyers the opportunity to purchase a home with no down payment. There are also no monthly mortgage insurance premiums to pay, limitations on buyer’s closing costs, and an appraisal that informs the buyer of the property value, below are several benefits of a VA Home Loan:

  • Equal opportunity.
  • No down  payment (unless required by the lender or the purchase price is more than  the reasonable value of the property).
  • Buyer informed of reasonable value.
  • Negotiable  interest rate.
  • Ability to  finance the VA funding fee (plus reduced funding fees with a down payment  of at least 5% and exemption for veterans receiving VA compensation).
  • Closing costs  are comparable with other financing types (and may be lower).
  • No mortgage  insurance premiums.
  • An assumable mortgage.
  • Right to prepay without penalty.
  • For homes  inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance  to veteran borrowers in default due to temporary financial difficulty.

I am a REALTOR with Liz Moore & Associates  Also; I am part of the Liz Moore & Associates’ Military Team    which specializes in homes for sale in James City County, Newport News, Hampton, York County, Poquoson, and Williamsburg, VA as well as surrounding markets. I offer Active Duty friendly support to families relocating to Langley Air Force Base, Ft. Eustis, Yorktown Naval Weapons Station, and Cheatam Annex.  When you PCS to Hampton Roads, VA  you will find that I understand that when a family member joins the military, the entire family belongs…thank you  for serving our Country, and I look forward to serving your real estate needs!

When you are transferring to Langley AFB, Ft. Eustis, Yorktown Naval Weapons Station or Cheatam Annex, if you’re interested in buying a home for sale call 757-651-3763   or e-mail me at jenniferhernandez@lizmoore.com

Moving to Langley Air Force Base….Have you thought of living in Williamsburg, VA?

By: Williamsburg Military Insider

Few places combine the cultural and historical aspects of Williamsburg, Virginia. The past meets the present in a place where America travelled from the frontier days of Jamestown in 1607, through the American Revolution and on to the Civil War. Restored Colonial Williamsburg recreates town life and, together with nearby Yorktown and Jamestown, help visitors and residents revisit and remember our national roots. The presence of one of the top small colleges in the country in William and Mary brings the vibrancy of young ideas and contemporary cultural life to blend with the old. Families flourish in the mild Virginia climate and enjoy the proximity to Virginia and North Carolina beaches, Blue Ridge Mountains and urban attractions of Norfolk, Richmond and Washington, D.C. all within 1-3 hours driving time. The commute to Langley AFB 20-30 min, there is nothing better than living in Williamsburg, VA.

I am a REALTOR with Liz Moore & Associates  Also; I am part of the Liz Moore & Associates’ Military Team    which specializes in homes for sale in James City County, Newport News, Hampton, York County, Poquoson, and Williamsburg, VA as well as surrounding markets. I offer Active Duty friendly support to families relocating to Langley Air Force Base, Ft. Eustis, Yorktown Naval Weapons Station, and Cheatam Annex.  When you PCS to Hampton Roads, VA  you will find that I understand that when a family member joins the military, the entire family belongs…thank you  for serving our Country, and I look forward to serving your real estate needs!

When you are transferring to Langley AFB, Ft. Eustis, Yorktown Naval Weapons Station or Cheatam Annex, if you’re interested in buying a home for sale call 757-651-3763   or e-mail me at jenniferhernandez@lizmoore.com