Williamsburg Real Estate and Homes Guide

I recently posted the following on a real estate website in answer to the question: Is buying a home in Williamsburg in the 23185 zipcode a good idea?

Written 6/24/2009:  Williamsburg VA:
I completely agree that lending practices were far to easy before the economic problems. Overcorrection and making it very, very difficult to get a mortgage [...]

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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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HUD announce OK to monetize tax credit for first time home buyers to use as a downpayment.
Who qualifies: The biggest qualification is to be a first time home buyer or in this instance, someone who has not owned a home for the past three years.
http://www.hud.gov/news/release.cfm?content=pr09-072.cfm

From the HUD press release: Currently, borrowers applying for an FHA-insured [...]

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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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Capital Gains Exemptions
If you recently sold a home without meeting the basic ownership and use criteria for waiving capital gains tax, you might still be able to claim reduced exemptions if you meet certain other criteria.
Homeowners who had to sell because of a change in place of employment can qualify for reduced tax. You must [...]

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No-Cost and Low-Cost Tips to Save Energy This Winter
Williamsburg doesn’t have many very cold days.   Some years I do get to break out my snow shovel, but not every winter. Despite the milder weather, it just takes one really cold night to find those drafty areas.
Here’s a few things you can do to protect [...]

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Real Estate Agents’ Questions : Williamsburg Real Estate Guide
Real estate agents should begin their professional relationship with client buyers by asking numerous questions about the buyer’s personal and financial situation. The answers to these questions will give the real estate agent a clear idea about the buyer’s housing needs and price range. It is a [...]

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THE EXTRA EFFORT IS WORTH IT
As a seller, we want the property we market to look spotlessly attractive to potential homebuyers. But even the most impeccable housekeepers find that maintaining their house in prime showing condition begins to wear thin after a few weeks.
It is a lot of work to keep the beds perpetually [...]

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