Home Buying Williamsburg

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

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

$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 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.

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.

Jennifer’s Pick of The Week…in Williamsburg, VA

By: Williamsburg Military Insider

Tucked away in a quiet enclave of residences this is a pleaser. Whether hosting a celebration, or enjoying a private moment on the deck, this home rises to every occasion. This home is a masterful collaboration of beauty, form and function. I invite you to preview the home on-line …

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?

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.

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.

Jennifer’s Pick of The Week…in Williamsburg, VA

I came across a really amazing home today, as I was out showing property. I wanted to share one I just thought was perfect for a family. Mindful of its lovely setting, the grounds are enhanced with lush landscaping. The absolutely enchanting front porch over looks a tranquil landscape. The eat-in kitchen also has space for a dining table when you need a little more space or when you want to entertain. I invite you to preview the home on line …which is located in the highly sought after Villages of Westminster.