Williamsburg Real Estate and Homes Guide

Your Tax-Free Profits
Significant tax reform legislation was signed into law with the Taxpayer Relief Act of 1997. This legislation replaced both the one-time $125,000 tax-free exclusion for homeowners aged 55 and older, and the “rollover” deferment of capital gains tax requiring the purchase of a replacement home of higher or equal cost within two years [...]

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Insuring Your Williamsburg Home
Many Williamsburg Virginia home buyers are concerned about whether they have an insurable interest in the property before the actual closing. The answer is an unqualified “yes”. Although the buyer is not yet the recorded owner of the Williamsburg property, he or she has an insurable interest in the property as soon [...]

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Heres a compilation of the local area tax information and budgets.  Property tax rates in the Williamsburg VA area appear to be holding for 2010.  Property is taxed at 100% of assessed (not appraised) value.  We do not have a separate school tax in the Williamsburg area.  The city of Williamsburg is it’s on entity.  [...]

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A Realistic Evaluation
Your real estate agent’s job is to find you the perfect home, in the right location, with all the amenities you want–and at the right price. It is the home inspector’s job to find any skeletons in the closet — or in the plumbing, wiring, roof, basement and beams.
The inspector won’t pass or [...]

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A Tough Sale
Here is a situation that many buyers have experienced. After searching for weeks, you found the perfect home and you made a very low offer. The sellers responded with a counter-offer which was several thousand dollars lower than their asking price. You came back with a slightly higher bid, and they came down [...]

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2008 saw many changes and challenges in the Williamsburg real estate market.  Many agents have left the business, which has been  cathartic.   The industry became bloated with to many “licensed” but poorly trained agents who really didn’t take the business seriously.  While training, support and talent have allowed some brokerages to flourish (like EXIT [...]

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LOCATION IS KEY IN LUXURY MARKET
Valuation of any home takes into account its size, features, condition and location. Of these factors, location is the one element that cannot be altered. A home in a high demand location will always represent a greater market value than a comparable home in a less desirable location. [...]

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NEW HOME ENVIRONMENT STRESSES “QUALITY OF LIFE”
If you are tired of big city traffic, crime, and smog, you may be among the increasing number of families who are relocating to small towns or rural settings without the loss of economic status!  Although location has long been considered the key factor in determining a home’s salability [...]

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Here’s a great idea. Lenders frequently pre-approve home buyers for loans before they begin house‑hunting. Give the loan officer information about your assets, income, and debts, so he can tell you what price range to consider. He will do a credit check and work with the lender to address any problems. It takes [...]

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Queens Lake is a waterfront neighborhood in the Williamsburg area.  It has about 435+ homes situated along the Queens Creek and sits around the lake.  The eastern border abuts a 500+ acre county park. It sits less than a 5 minute drive from the restored area of Colonial Williamsburg.  We live in Queens Lake ourselves [...]

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