Sophisticated and elegant yet inviting and comfortable!  This absolutely pristine and energy efficient home at 112 Castel Pines in Ford's Colony may just be perfect. Experience the true embodiment of gracious Southern Living complete with a large wrap around front porch! With 5,247 sq feet, there are 4 bedrooms and 3 full and 2 half baths.

Guests are greeted with a 2 story foyer with an elegant reverse staircase and beautiful moldings. The spacious great room with a cathedral ceiling offers tons of light, gas fireplace, ceiling fan and French doors with transoms that lead to a private screened porch. The great room is open to a beautiful kitchen that offers granite countertops, a center island with bar, pantry, stainless appliances, double ovens, and a warming drawer and a generous eat in breakfast area.  Just adjacent is the elegant dining room with tray ceiling as well as crown and chair moldings. The home also offers a formal living room that could also be used as an office or a music room. Crown and chair moldings are also featured here.  The distinctive casework throughout the home was crafted by a former 23 year Colonial Williamsburg carpenter.

The first floor master features a tray ceiling and French doors that lead to a covered deck and screened porch. The tiled master bath offers a neutral palate with dual sinks, jetted tub, and a tiled multi head shower. The huge walk-in closet is accessible from the bathroom as well as from the bedroom.

Upstairs you will find two generous bedrooms that both offer two closets as well as dormered windows. The bedrooms share a tiled full bath. The bonus room (or optional 4th bedroom) is fabulous with 2 ceiling fans, a half bath, surround sound wiring, as well as dormers with arched windows.

There is a huge walk out lower level that offers tons of potential! Constructed with Superior wall technology, ("Dry. Warm. Smart. And Green"). Currently, the spaces are utilized as an exercise room and a hobby room.  This space could also be used as a billiards/ game room. There is also a fabulous workshop and office area that are perfect for woodworking or just heated and cooled storage space. There is also a full bath downstairs that is complete with a linen closet. 

Exterior features include a screened porch with a cathedral bead board ceiling, ceiling fan, and arched window. Adjacent on either side of the porch is a deck as well as a covered porch. All porch and decking materials are the upgraded easy care and weather resistant  "trex-like" decking and vinyl.

Additional features of this spectacular home: A 3 car garage with oversized and insulcated doors!Tons of storage, upgraded lighting including Hinckley fixtures, upgraded plumbing fixtures, transom and arched windows throughout, a Williamsburg "holiday" switch, gas generator, irrigation system, water softener, and a hot water recirculation line. Also the lower level has been plumbed for a bar and is home theatre wired.

116 Castel Pines in Ford's Colony has not missed any details or features for the discriminating buyer. Looking for a Perfect Home? You have come to the right place!

This home can also be viewed on the Williamsburg MLS. Listing number: 30025234.

For more information on Ford's Colony please visit my blog on Ford's Colony at www.fordscolonyinsider.com

The property you are considering purchasing may be located in a development subject to the provisions of the Virginia Property Owner’s Association Act.  If it is subject to the Act then the seller is obligated to disclose that fact you in the contract and to provide you with what is known as an Association Disclosure Packet, which contains a significant amount of information and documents.  Most importantly, under this law you have the unilateral right to terminate the contract but termination must be done correctly and timely.

 What is the Property Owner’s Association Act?  The Virginia Property Owners Association Act (“the Act”) is a series of laws that regulate associations that manage real estate developments that have certain characteristics, notably a subdivision declaration, restrictive covenants, dues, assessments, etc.  The Act also requires a seller and the association to make certain disclosures to buyers. 

 What is a property owner’s association (POA)?  Real estate developments often have common areas to own and maintain, architectural review boards, dues, assessments, etc.  The tasks and duties associated with these subdivision characteristics are managed by an association of the owners.  The association, often incorporated, may be self-managed or professionally managed.

 What is an association disclosure packet?  The Act obligates a seller to obtain and provide to prospective purchasers a packet of information, the contents of which are specified by law, in order for a buyer to evaluate the association and the obligations, financial and otherwise, incidental to owning property subject to the association.

  What should the disclosure packet contain?  The Act specifies the contents of the packet.  For example, the name of the association, pending assessments or expenditures of funds, a statement of fees including assessments, a current reserve, study report, current budget, notice as to any pending law suits against the association, insurance coverage information, a statement whether the lot and house are in violation of association rules, copy of the declaration, bylaws, and rules and regulations, minutes from any board of directors or association meetings for six months preceding, etc.  Please see the statute for a complete list.

 What are a seller’s obligations under the Act?  The seller is obligated to disclose whether the property is subject to the Act, and if so, to obtain the association disclosure packet, at the seller’s expense, and to provide it to you, the buyer. 

Can I cancel the contract if I do not approve?  Yes!  The Act permits a purchaser to cancel within three days of the date of receipt of the disclosure packet.  Bear in mind that unless the contract specifies to the contrary, the receipt of the packet by your agent or your agent’s firm may trigger the three-day window.

 When can I cancel?  You may terminate the contract any time prior to settlement if you have not been notified that the association disclosure packet will not be available and the association disclosure packet is not delivered to you.  In addition, you may cancel within three days after receiving the association disclosure packet if the association disclosure packet or notice that the association disclosure packet will not be available is hand delivered or delivered by electronic means and a receipt obtained; or within six days after the postmark date if the association disclosure packet or notice that the association disclosure packet will not be available is sent to you by United States mail.

 How do I can cancel?  You should have your real estate agent or your attorney assist you with cancellation, but briefly you need to provide written notice of the termination and send it to the seller in the statutorily prescribed manner (a copy of the statute is provided).

About Brian & Lytle Law

Affiliated with Liz Moore & Associates since its inception, Brian is a practicing Virginia lawyer with 25 years experience.  He is the owner of Lytle Law, P.C.,a general practice law firm (www.lytlelaw.com), and Lytle Title & Escrow, LLC, a Virginia licensed settlement agent (http://www.lytletitle.com/).  Brian's law practice includes divorce, personal injury, civil litigation and criminal law, but emphasizes real estate closings, real estate related litigation, and the representation of real estate brokers, agents and including Code of Ethics, procuring cause, malpractice, VREB and Fair Housing disciplinary actions, and commission collection cases in local courts.  He is admitted to practice before all Virginia state courts, including the Virginia Supreme Court, before the United States District Court, the U.S. Bankruptcy Court, and the United States Court of Appeals for the 4th Circuit. 

Lowes and RISMedia publish daily posts for consumers that are interested in buying and selling homes. Since most folks don't get mortgages too often it can be a very confusing and intimidating process. The following is an article that I found interesting that helps to answer the question of why you need to 'shop around' or at least do some homework before commiting to a lender. Hopefully, as you choose your home in Williamsburg, VA. you will also find this of value.

6 Reasons it Pays to Shop Around Before Choosing a Mortgage

By Paige Tepping

RISMEDIA, August 26, 2010--You wouldn’t buy a house without shopping around first, right? Then why would you commit to the loan you use to buy that house without making sure you’re getting the best deal possible? From the experts at LendingTree, here are six reasons why it’s essential to take a few minutes to browse before you borrow:

1. To get the best interest rate possible
Over the life of a $200,000, 30-year fixed rate loan, a one-tenth of a point difference in interest rate could save or cost you thousands of dollars.

2. To pay lower loan fees
Once your loan application is accepted, the lender will get back to you with a good-faith estimate (GFE), including an itemized list of all the costs associated with the loan. If there are any parts of the GFE that you don’t understand, don’t be afraid to ask the lender to explain each fee that is listed.

3. To avoid a prepayment penalty
In these transient times, it seems no one stays in their home long enough to pay down their mortgage the old fashioned way: in monthly increments over a period of decades. So you’ll want to be clear on whether the terms of your loan include a penalty if you pay off your mortgage early—either because you move or refinance.

4. To find a lender you feel comfortable with
You don’t want any surprises popping up at closing time. Get a lender who is responsive to your questions and is willing to give you the details in writing.

5. To find a lender that specializes in your situation
Recent volatility in the mortgage markets means that people with bad credit or little money for a down payment might have to look a little harder to find a lender.

6. To get the rate lock period you want
Once you’ve found the lender offering the best mortgage rate and terms, you’ll want to get a written commitment, known as a “lock” that puts in writing that the lender will make the loan to you at that the specified interest rate. The length of the lock can vary from 30-90 days, but many lenders will charge a fee for a rate commitment of longer than a month. Negotiate the lock period that is right for you, depending on when you plan to close on your new home and if interest rates are expected to creep higher during that time. 

                                           Williamsburg James City County Schools have released the new bus schedules for the kiddos headed back to school in just a few short weeks.

Click here to access all Bus Schedules for WJCC Public schools.

Need more information on the WJCC school calendar? Summary of School Year Calendar- click here.

Is THIS The Best Loan Program In The Today?

 Can buyers get 100% financing at low fixed rates?

 Can buyers get a low payment with no MI?

  Can buyers finance closing costs into the mortgage?

YES THEY CAN!!!!!!

 It is official as of this week....the rural housing mort­gage program from the United States Department of Agriculture (USDA) is back.  Yes, the same people that certify our beef at the grocery store offer a mortgage program.

The USDA Rural Housing program is an excellent mortgage program helping buyers obtain the home of their dreams.  And, don’t think just because it is a “rural housing” program it won’t fit us here in Hampton Roads.  In fact, this program can be used in much of Southeastern Virginia to include James City County, York County, Suffolk, Gloucester, Matthews, New Kent, the Northern Neck, etc. 

Features include:

• Little or no cash out of pocket at closing
• Seller does not have to pay closing costs & pre-paids  (easier offers)
• Super-low monthly payments
• Can afford more of a home with less of a payment
• YOU CAN AFFORD TO BUY A HOME!!!!!

Not sure if a property will qualify?

Call Kevin, or check it out on-line:

http://eligibility.sc.egov.usda.gov

 And the difference between the USDA loan  and a VHDA loan?

 VHDA actually offers the USDA program as one of their alternatives, but the USDA is SO much better than the VHDA FHA Plus that most folks think about when they think VHDA.   We do both, but I only use the FHA Plus when the USDA is not available or the property does not qualify.  It is so much better for the client.

The advantages of USDA over the VHDA FHA Plus: 

• Higher maximum household income
• Lower total monthly payment   (due to no mortgage insurance requirement)
• Can finance in closing costs and pre-paids into the loan, up to the appraised value
• Only one loan, not two
• Higher qualification amounts for the clients due to the lower monthly payments
• Clients do not have to be first time buyers
• No maximum property size like VHDA, but has to be reasonable.  Just a normal single family home and land, but not quite as restrictive as VHDA.

Overall, this is the best mortgage program out there if someone can get it...assuming they are not VA eligible, and not doing 20% down.

For any questions on this (or any other loan product) please call me at 757.645.8996 or email me:konizuk@weststarmortgage.com

Kevin Onizuk

WestStar Mortgage, Inc.

Cell:  757-645-8996

www.KevinOnizuk.com

It is mid August and, of course, we are all being drilled with back-to-school commercials and ads. Ready or not, schools will be back in session before we know it. Tuesday, September 7 to be exact. So, here is a list of useful links within the Williamsburg James City County Public Schools website:

Summary of School Year Calendar- click here.

Information on each of the WJCC Public schools click here.

School Supply Lists for WJCC Public Schools are found here.

Want the timeline for the WJCC Public Schools Superintendent Search? That is here.

New to the area and have questions about WJCC Public schools? Click here.

If you are in the beginning stages of investigating our little corner of the world for a potential new place to call home (or if you already live here),  the online newspaper The Williamsburg Yorktown Daily (AKA the WY Daily)  is your best bet to stay on top of what is happening in Williamsburg. I get a daily email myself just to make sure that I don't miss any of the happenings in the 'Burg. Check out their site (and subscribe if you like). Heck, it is free and informative!

I have the pleasure of listing 4910 Carlisle Mews in The Mews town homes in Williamsburg, VA. This is a charming town home that offers privacy in a tucked away location yet it is close to everything in Williamsburg! 199, I-64, New Town, Colonial Williamsburg, and William and Mary are all close by.

The town homes are all nicely done custom units that are unique. You will not find your home exactly like your neighbors home in this neighborhood. Neighbors tend to look after each other yet you have tons of privacy.

The community offers a pool, tennis courts as well as a clubhouse. The home owners association dues cover all yard maintenance; common area maintenance; garbage removal and pool maintenance.

4910 Carlisle Mews was built in 1987, has 1901 square feet and  offers 3 bedrooms, 2 full and 1 half bath. There is a fabulous lower level that distinguishes this home from many other town homes in the area.

Features of 4910 Carlisle Mews:

Brand new tile will greet you in the entrance way and also provide great utility.

There is a charming eat-in kitchen with beautiful natural light. All appliances will convey! There is an electric oven, dishwasher, refrigerator, microwave and disposal.

The dining room and family room are open to each other and offer great potential for entertaining or just everyday living. The fireplace looks brand new. There is also a large lower level room that offers potential use for just about any purpose: den, play room, music room, craft room, or whatever you need! This room also features a wall of built-in shelving and cabinetry! The laundry utility room is also off of this room. There is plenty of storage space in this room as well. The washer and dryer will also convey!

All bedrooms are conveniently located upstairs with bedrooms offering vaulted ceilings. The master bedroom features a walk-in closet as well as it's own full bath. There is an additional full bath upstairs as well as 2 linen closets! All bathrooms in the home feature tiled floors.

This town home has just had ALL of the plumbing replaced with PEX pipes. The work is done (and paid for!). Many of the units have not had the plumbing replaced and all will eventually have to have this done.

This is a great town home in an awesome location. Plenty of room and plenty of spaces. You will enjoy the spaces as well as the privacy and charm of the neighborhood.

4 Tips to Determine How Much Mortgage You Can Afford

By knowing how much mortgage you can handle, you can ensure that home ownership will fit in your budget.

Homeownership should make you feel safe and secure, and that includes financially. Be sure you can afford your home by calculating how much of a mortgage you can safely fit into your budget.

Instead of just taking out the biggest mortgage a lender qualifies you to borrow, consider how much you want to pay each month for housing based on your financial and personal goals.

Think ahead to major life events and consider how those might influence your budget. Do you want to return to school for an advanced degree? Will a new child add day care to your monthly expenses? Does a relative plan to eventually live with you and contribute to the mortgage?

Still not sure how much you can afford? You can use the same formulas that most lenders use, or try another of these traditional methods for estimating the amount of mortgage you can afford.

1. The general rule of mortgage affordability

As a rule of thumb, you can typically afford a home priced two to three times your gross income. If you earn $100,000, you can typically afford a home between $200,000 and $300,000.

To understand how that rule applies to your particular financial situation, prepare a family budget and list all the costs of homeownership, like property taxes, insurance, maintenance, utilities, and community association fees, if applicable, as well as costs specific to your family, such as day care costs.

2. Factor in your downpayment

How much money do you have for a downpayment? The higher your downpayment, the lower your monthly payments will be. If you put down at least 20% of the home's cost, you may not have to get private mortgage insurance, which costs hundreds each month. That leaves more money for your mortgage payment.

The lower your downpayment, the higher the loan amount you'll need to qualify for and the higher your monthly mortgage payment.

3. Consider your overall debt

Lenders generally follow the 28/41 rule. Your monthly mortgage payments covering your home loan principal, interest, taxes, and insurance shouldn't total more than 28% of your gross annual income. Your overall monthly payments for your mortgage plus all your other bills, like car loans, utilities, and credit cards, shouldn't exceed 41% of your gross annual income.

Here's how that works. If your gross annual income is $100,000, multiply by 28% and then divide by 12 months to arrive at a monthly mortgage payment of $2,333 or less. Next, check the total of all your monthly bills including your potential mortgage and make sure they don't top 41%, or $3,416 in our example.

4. Use your rent as a mortgage guide

The tax benefits of homeownership generally allow you to afford a mortgage payment-including taxes and insurance-of about one-third more than your current rent payment without changing your lifestyle. So you can multiply your current rent by 1.33 to arrive at a rough estimate of a mortgage payment.

Here's an example. If you currently pay $1,500 per month in rent, you should be able to comfortably afford a $2,000 monthly mortgage payment after factoring in the tax benefits of homeownership.

However, if you're struggling to keep up with your rent, consider what amount would be comfortable and use that for the calcuation instead.

Also consider whether or not you'll itemize your deductions. If you take the standard deduction, you can't also deduct mortgage interest payments. Talking to a tax adviser, or using a tax software program to do a "what if" tax return, can help you see your tax situation more clearly.