Home Buying Langley AFB

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

Advertisements

2012 (BAH) Basic Allowance for Housing Rates Will Rise in Hampton Roads, VA.

By:  Williamsburg Military Insider

2012 Basic Allowance for Housing rates will rise an average 2 percent next year, here in Hampton Roads, to include, Langley Air Force Base, Ft. Eustis, Yorktown Naval Weapons Station, and Cheatam Annex.

See the rates

When rates go up, all service members in a given location get the increase. But when rates dip, the military’s “individual rate protection” policy ensures that troops already settled in a location will not see their BAH decrease for as long as they remain in that location, assuming no change in dependency status or a reduction in pay grade.

That policy assures that troops who have signed long-term leases are not penalized if housing costs in their area fall.

BAH rates remain high by historical standards. Until 2005, troops were expected to cover some of their housing costs out of their own pockets. But Congress changed the law, and now the Pentagon gives troops 100 percent of estimated housing costs for their area.

Median rental costs are only one factor in the complex formula officials use to determine BAH rates. It also includes the average utilities costs and renter’s insurance rates. The Pentagon analyzes that data annually for 365 U.S. housing markets, including Alaska and Hawaii.

The Defense Department will pay out a total of about $20 billion in BAH, a slight uptick from last year’s total of about $19 billion. More than 1 million troops receive BAH to cover housing off post or rent in privatized housing complexes on military installations.

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

When the House You Want to Buy Needs Some Love in Williamsburg VA.

By:  Williamsburg Military Insider

It’s the house you want most! Or is it?
When you find a house in Williamsburg you love that’s in some disrepair, you feel torn. On the one hand, you could invest some money, time and energy in getting it fixed. Or you could keep shopping the Williamsburg market in hopes of finding the same house in mint condition. Preview these tips to assess what option is best for you.

Follow your heart and buy this one.
If you love the house and it’s not dilapidated, purchasing the home with a VA Loan is an ideal choice. Of course, if it’s falling apart and the repairs seem insurmountable, you won’t love it anyway. At some point every home needs some fixing, so why not complete the restorations at the start? With a VA loan, you can finance the purchase of the home as well as energy-efficient improvements with an energy-efficient mortgage (EEM).
Talk to your Realtor
A military-friendly Realtor will guide you in the right direction. Great Realtors don’t mislead you into thinking the repairs on your favorite house are easy and cheap. They’ll be straightforward with you and suggest whether you should continue shopping the market or invest in the house that is in need of repairs.
Forget about this house.
The house of your dreams required no major repairs when you bought it. If it weren’t for the leaky roof, busted HVAC and outdated shutters, then it’d be tops on your list of homes you saw. But those repairs are all real and you’re ready to get into your new home, not into your home on which you’ll spend weeks fixing up. Keep shopping and hope that you find a similar styled home in better condition.

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

$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

Impact of Housing Market on Military Families

By: Williamsburg Military Insider

Yesterday, NPR ran a story about the impact the faltering housing market has on military families. They mentioned that in some ways, military families are taking the brunt of the downfall.  Home values nationwide have fallen more than 30 percent since the height of the market, which means millions of people are underwater on their mortgages. But military families can’t control when they get orders to move. So one family has let its house go into default — and another is living apart.

Have you had experiences trying to sell your own home due to a PCS in the midst of the weak housing market? How did you deal with the challenge?

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

Should I Buy or Rent a Home in Williamsburg with My Upcoming PCS to Langley AFB?

By: Williamsburg Military Insider

I have had this question asked the last several weeks and thought I would repost…With mortgage rates at a record lows and housing prices remarkably low, it may be a very attractive time to buy a home in the Williamsburg 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.  The 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.

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 begin_of_the_skype_highlighting              757-651-3763     end_of_the_skype_highlighting or e-mail me at jenniferhernandez@lizmoore.com

Great Time to Buy A Home in Williamsburg, VA… Are You Prepared?

By: Williamsburg Military Insider

If you are planning on looking to buy a home, make sure you come prepared. Beyond getting pre-qualified and selecting a Realtor, you may want to have several resources to hand to help with your search. After helping many clients purchase homes, I have come to realize a system that really helps them in the process. First take with you, your smart phone so that you can take pictures and a notebook to catalog your search results. If your phone can’t take photos, then bring a camera with you. In your notebook, put in the measurements of the large pieces of furniture you have so that you can see if your current furniture will fit in the space. Also, note what is important to you for your new home. You want to do this ahead of time so that you have made your priorities absent of emotional attachments to a particular home. It will help you be less emotionally driven and help prevent you from making an offer on something that really does not meet your needs.

Note your priorities in your notebook by level of importance. If budget is primary, then note that on the top of the list and make sure your Realtor knows that you do not want look at homes much higher than that benchmark. This will help alleviate disappointment. If space is super important, note that too. You do not want to be looking at a three-bedroom home when you will only be able to fit in a four-bedroom.

Most have all have fun finding your new 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

PCS move to Ft. Eustis or Langley AFB and Questions on the VA Loan Limit and VA Jumbo Loan? What happens if my home purchase is over $417k in Williamsburg?

By: Williamsburg Military Insider

The Department of Veterans Affairs will guaranty a VA home loan for a fully eligible veteran to a maximum of 25%. So if a veteran has full eligibility at $104,250, simply multiply that by (4) and the maximum loan amount with full VA guaranty is $417,000 with $0 down payment.

The majority of counties in the United States fall under this category.  York County and James City County here in Williamsburg fall into this category. The Department of Veterans Affairs has designated what is known as 2011_county_loan_limits where the VA will guaranty the veteran up to 25% of the high cost county limit. For these high cost county loans, the Veteran’s down payment is still $0 up to the higher limit. By definition, any loan greater than $417,000 is categorized as a VA Jumbo Loan.

Calculations for Loans Limits as Set by VA

For counties where the VA maximum limit is $417,000:

  1. Borrower has no money down on the first $417,000.
  2. Borrower pays a 25% down payment only on the amount greater than $417,000.
  3. Borrower pays the funding fee in cash for loan between $417,000 and $1,000,000.
  4. On loan amounts greater than $417,000, the veteran maintains all the benefits of a VA loan.

For counties where the VA maximum limit exceeds $417,000 (known as VA Jumbo Loans):

  1. Borrower has no money down on the maximum amount for the county limit as set by the VA.
  2. Borrower pays a 25% down payment only on the amount greater than the county limit set by the VA.
  3. Borrower pays the funding fee in cash for loan between the amount greater than the county limit set by the VA and $1,000,000.
  4. On loan amounts greater than $417,000, the veteran maintains all the benefits of a VA loan.

Additional Information pertaining to VA Jumbo Loans that exceed county limits set by VA:

  1. Minimum Credit score of 640 required for loans above $650,000.
  2. Manufactured homes are not eligible for the VA Jumbo program.
  3. Funding fees cannot be financed for loans greater than $417,000. They must either be paid in cash by the Veteran or by the Seller.
  4. 2- to 4-unit purchase transactions maximums are $417,000.
  5. The VA Jumbo Program is for Fixed Rate loans only.
  6. Other terms and conditions may apply.

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