Oct 8 '23 Home Prices Expected to Keep Rising Through 2027 By John Womeldorf, Local Williamsburg VA Real Estate Agent If you’re planning to buy a home, one thing to consider is what experts project home prices will do in the future. While you may have seen negative news over the past year about home prices, they’re doing far better than expected and are rising across […]
Jun 28 '23 102 Mayfair Lane: Stately Home with Wooded Backyard in Williamsburg’s Windsor Forest Every home has a story John Womeldorf knows that every home has a story. As an experienced realtor with a deep love for Williamsburg, John looks beyond the basic features of the homes he sells. In his “Every Home Has a Story” series, John introduces potential buyers to the aspects of a home that they can’t […]
Nov 15 '22 NAR’s Lawrence Yun Predicts US Home Prices Won’t Experience Major Decline, Could Possibly Rise Slightly in 2023 if Mortgage Rates Remain at 7% ORLANDO (November 11, 2022) – Amid the backdrop of high inflation, elevated mortgage rates and slowing sales activity, severely limited housing inventory will prevent large home price drops for most of the country next year, according to NAR Chief Economist Lawrence Yun. Yun analyzed the current state of the residential real estate market and shared […]
Apr 21 '22 Is Five Months of Supply Really the Sign of a Healthy Housing Market? The idea that five or six months of supply signals a healthy housing markethas ingrained itself in real estate lore. Historically, it was said that five or six months of supply is associated with moderate home price appreciation. Anything higher indicates a buyers’ market, while anything lower means a sellers’ market. But where did this […]
Jan 1 '21 Top-selling Williamsburg VA Neighborhoods for 2020 The housing market in the Williamsburg VA area remains strong. As with most markets inventory is extremely low. It’s always interesting to see the top-selling neighborhoods in Williamsburg VA. The areas covered in the report below includes the City of Williamsburg, James City County, New Kent County and Upper York County. The numbers are from […]
Dec 10 '20 No more love letters from home buyers! It seems a pretty standard practice that’s been done for years has to end. I have always encouraged my homebuying clients to write a letter to the seller telling them how much they love the home and neighborhood. I am 100% certain these letters have influence seller decisions in the past. I know we didn’t […]
Nov 19 '20 Home prices surge in Virginia Home prices in Virginia continued to surge during October due to high demand, low inventory and mortgage rates, according to a report released by Virginia Realtors on Tuesday. Northern Virginia, Central Virginia and Hampton Roads saw median home prices rise by 15% when compared with the same time last year. The median statewide home sales […]
Jul 17 '20 Average U.S. mortgage rate falls below 3% for the first time in history The average mortgage rate fell to 2.98% this week, breaking the 3% threshold for the first time, as investors concerned about a resurgence of the COVID-19 pandemic fled to the safety of the bond markets and the Federal Reserve continued to scoop up securities backed by home loans. The average rate for a 30-year fixed […]
Feb 17 '16 Ready to renovate? Let the experts show you where to start! Come be inspired by the Southern Living Showcase Home & learn from Williamsburg’s best in home renovations on Saturday, February 20th from 1-4pm at 109 Ford’s Colony Drive. Wayne Harbin Builder’s Inc. renovation team and Danny Coates from the Ferguson Showroom will discuss the updates you should make to your home before selling, changes to […]
Jun 5 '13 May 2013 Real estate market update for Williamsburg VA May 2013 Market Observations The Williamsburg VA real estate market continued to demonstrate it’s strength in May 2013 with home sales up 32.69% over the previous May. The closed median home price in May 2013 for the Williamsburg VA market , which includes the City of Williamsburg, James City County and Upper York County’s housing […]