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. 

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

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. 

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.

Looking for a home near the College of William and Mary? (Perfect for professors or student housing at William and Mary). You are just a short walk away from everything at 312 Cary Street in center of Williamsburg, VA. This charming home offers a wonderful opportunity for green living and a lower carbon footprint! You can walk or ride your bike to just about anywhere in the City of Williamsburg.

The galley style yet charming kitchen offers additional built-in cabinets for plenty of storage as well as a breakfast bar that overlooks trees. Enjoy your morning coffee as you watch the outdoors. Appliances including the gas range, dishwasher, counter top microwave, refrigerator, and brand new disposal will also convey.

The 3 bedrooms on the first floor are situated around the first floor bath room. All bedrooms have beautiful hardwood floors and louvered sliding closet doors.

The lower level offers TONS of opportunities for additional expansion! Currently the laundry area is located just down the stairs. (Don’t miss the first floor laundry shoot!). There is also an additional finished full bath in the lower level. Tons of storage as well as an additional dry walled storage room and a workshop.

The highlight of the lower level is a large partially finished room that echoes the upstairs living and dining space with a wall of beautiful windows overlooking total serenity and privacy. There is also a door from this room that leads to the outside. This room offers plenty of potential as an additional living space, another bedroom, bonus/play room, office, or studio or whatever your needs may be!                                         

Did I mention that ALL of this is located in the absolute best location in Williamsburg, VA? Take a stroll to the Duke Of Gloucester Street and enjoy tons of shopping in Merchant's Square:  Talbots, Williams-Sonoma, the Nancy Thomas Store, Chico’s, Barnes and Noble, the famous Wythe Candy store, Baskin Robbins ice cream and so much more!

 Saturday mornings? Walk to the Williamsburg Farmer’s Market in Merchant's Square. Saturday’s at 1:00 enjoy the Colonial Williamsburg Fife and Drum Corps march.  Evenings? Enjoy the fabulous Fat Canary,  the world famous Cheese Shop, The Trellis,  Berrets, or The Blue Talon.  The Kimble Theatre also offers wonderful entertainment with the Williamsburg Symphonia, foreign films, musicals, plays, and comedy acts.  Walk to classes at William and Mary!  All right within a 5 minute easy walk.

Perfect location and plenty of opportunity here at 312 Cary Street in WIlliamsburg, VA!

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

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.

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.

7 Tips for Improving Your Credit

Here’s how to clean up your credit so you get the least-expensive home loan possible.

Boost your credit score by paying the balance on your credit cards in full, and on time, every month.

1. Know your credit score

Credit scores range from 300 to 850, and the higher, the better. They’re based on whether you’ve paid personal loans, car loans, credit cards, and other debt in full and on time in the past. You’ll need a score of at least 620 to qualify for a home loan and 740 to get the best interest rates and terms. 

You’re entitled to a free copy of your credit report annually from each of the major credit-reporting bureaus, Equifax, Experian, and TransUnion. Access all three versions of your credit report at www.annualcreditreport.com. Review them to ensure the information is accurate.

2. Correct errors on your credit report

If you find mistakes on your credit report, write a letter to the credit-reporting agency explaining why you believe there’s an error. Send documents that support your case, and ask that the error be corrected or removed. Also write to the company, or debt collector, that reported the incorrect information to dispute the information, and ask to be copied on any materials sent to credit-reporting agencies.

3. Pay every bill on time

You may be surprised at the damage even a few late payments will have on your credit score. The easiest way to make a big difference in your credit score without altering your spending habits is to diligently pay all your bills on time. You’ll also save money because you’ll keep the money you’ve been spending on late fees. Credit card or mortgage companies probably won’t report minor late payments, those less than 30 days overdue, but you’ll still have to pay late fees.

4. Use credit carefully

Another good way to boost your credit score is to pay your credit card bills in full every month. If you can’t do that, pay as much over your required minimum payment as possible to begin whittling away the debt. Stop using your credit cards to keep your balances from increasing, and transfer balances from high-interest credit cards to lower-interest cards.

5. Take care with the length of your credit

Credit rating agencies also consider the length of your credit history. If you’ve had a credit card for a long time and managed it responsibly, that works in your favor. However, opening several new credit cards at once can lower the average age of your accounts, which pushes down your score. Likewise, closing credit card accounts lowers your available credit, so keep credit cards open even if you’re not using them. 

6. Don’t use all the credit you’re offered

Credit scores are also based on how much credit you use compared with how much you’re offered. Using $1,000 of available credit will give you a lower score than having $1,000 of available credit and using $100 of it. Occasionally opening new lines of credit can boost your available credit, which also affects your score positively. 

7. Be patient

It can take time for your credit score to climb once you’ve begun working to improve it. Keep at it because the more distance you put between your spotty payment history and your current good payment record, the less damage you’ll do to your credit score.

 Other web resources

How FICO scores are calculated

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.

   In our little corner of the world we have several items to contend with: the general state of the economy and housing, the end of the government tax credits and, finally, more specific to Ford's Colony is the announcement on April 3, 2010 that the country club had filed for Chapter 11 bankruptcy protection. I always emphasize that the country club and the home owners association of Ford's Colony are two VERY DIFFERENT and UNIQUE entities.  The HOA in Ford's Colony is alive and well and functioning as a very strong and healthy congruent group. 

 I took sales in Ford's Colony for the prior 12 months (June 2009- June 2010) and studied  what had sold, how much had sold and compared those sales prices to  the assessed values.( I always tell folks that assessed value and market value are two different animals, however, it is useful to see how those two figures compare.) SO for purposes of not getting too long on evaluating numbers, I will divide my findings into a couple of blog posts. There are few folks that enjoy looking at numbers we all just want the bottom line!   

So the first question how were sales during the past 12 months and what was the impact on sales from the April 3 country club bankruptcy filing?   

 Grits and Grasshoppers:

The months supply of inventory in Ford's Colony went from 28.8 months of inventoryin 2009 to 24.8 months of inventory in 2010. So- while not a fun number to see 2010 IS better than 2009. Here is the most interesting statistic from the Months Supply of Inventory: during the month of April 2010, the months supply of inventory declined to 11.4 and then in May 2010 it declined to 10.5. In April there were 12 homes that went under contract and in May there were also 12 homes that went under contract. June saw a huge drop to 5 homes under contract. Those are VERY important numbers as the country club announcement of the bankruptcy protection plan was made on April 3! The numbers immediately following that announcement were the best of the entire 12 month time period. We do have to consider the tax credit stimulus during those months also which, in the short-term anyway, certainly gave a jolt of energy to sales. The tax credit ended April 30,2010. Home buyers had to be under contract by the end of April to qualify. We saw a lot of buyers rushing at the end of the month to be under contract which resulted in a 'trickle around' effect in May as those month-end April sellers then became our May buyers.

Bottom line? Sales in Ford's Colony seem to be more affected by the TAX credit ending versus any perceived issues with the country club. This is good news in and of itself.   

 For more information here is the chart-click here for an easier to read PDF .     

The community is known for its rolling topography and abundance of trees, ponds, and wetlands. There is a strict “Environmental Control Committee” that works to not only maintain the integrity of the homes that are built but also to maintain the trees and green spaces on lots as homes are being built. This ensures that there is no ‘clear cutting’ and the natural beauty of the neighborhood is sustained.   

Ford’s Colony is known for its very active homeowner's association that sponsors a multitude of social clubs and activities. (Forty clubs at last count!) There is bound to be a club or interest group for just about everyone. Examples of some of the clubs include: many bridge groups, Colony Wine & Dine, Chess Club, bowling, Colony Kids, Afternoon Artists, Pilates Group,Photography, Travel Club, Mah Jongg, Fly Fishing Club, Tai Chi, Model Railroad Club, Theater Club, swim team, and the list goes on! There is a club or group that has been started for just about every hobby/interest.

The mission statement for the Ford's Colony Homeowners Association at Williamsburg: “To support the interests of its members; to preserve and enhance residents’ quality of life, property values and the natural environment; and to operate the Association’s services in a cost-effective manner.”

As a 14 year resident of Ford’s Colony I can say that  the HOA is very successful in accomplishing their mission.

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

To search for ALL active single family detached homes in Ford's Colony, please click here.

To search for condos and townhomes in Ford's Colony, please click here.

To find lots for sale in Ford's Colony, please click here.

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

According to Freddie Mac’s monthly summary report released Friday, the number of single-family mortgages at least three months past due or in foreclosure as of the end of June stood at 3.96 percent. That’s down from 4.06 percent the month before and a high of 4.20 percent as recently as February.

Freddie noted in its explanation of the numbers that because the company includes loans in the trial period of the Home Affordable Modification Program (HAMP) as delinquent in its statistical reporting, this treatment results in a temporary rise in the delinquency rate until the modifications become effective and are removed from delinquent status.

The GSEs’ data show that 21,367 official loan modifications were completed on Freddie-owned mortgages in June. During the first six months of the year, servicers have permanently modified 93,568 distressed loans for the mortgage giant.

The volume of effective modifications impacts the GSE’s reported delinquency rate, which is an indication that past due numbers will continue to improve as more borrowers complete their HAMP trials and either move into permanent mods or pursue other foreclosure alternatives.

Freddie’s multifamily delinquency rate also dropped in June, sliding from 0.32 percent in May to 0.28 percent last month.

The company’s total mortgage portfolio shrank at an annualized rate of 0.9 percent in June, ending the month with a balance of $2.22 trillion. Mortgage-related investments declined by an annual rate of 13.8 percent, or $8.6 billion, in June to $739.5 billion.

Freddie Mac spokesman Michael Cosgrove explained to Reuters, “We have been in a low-growth mode in our retained portfolio for much of this year, with most of the growth in portfolio related to purchase of seriously delinquent loans from pools backing our PC securities.”

Both GSEs announced in February that they would buy back all home loans from investors that were at least 120-days past due in order to reduce capital expenditures. Freddie Mac has repurchased approximately $73 billion in seriously past due mortgages from securities pools.

Chasing Shadows
80’s music

Thursday Sounds on the Square

Bring a picnic. Bring the family. It's free and fun.
Plenty of convenient, free parking.
Lots of grass for your picnic blanket,
lawn chairs, kids, and friends.
Refreshing, cold beverages available for purchase.

About the neighborhood: Banbury Cross is a beautiful neighborhood that is located in York County with easy access to 199 and I-64. Most homes in the neighborhood were built betwteen 1983-1992. There are 125 home sites in the neighborhood. Banbury Cross is distinguished from other neighborhoods as all of the homes sit on large lots- most are at least 1 acre and go up from there. There is not a mandatory home owner's association although the homeowners that sit on the charming pond at the back of the neighborhood have formed their own HOA to maintian the beauty and integrity of the water. Homes on average have sold from $265,000 to $545,000 over the past 2 years.

This sure to please home is listed at $275,000- below tax assessed value!!

Welcome to 116 Devonshire in Williamsburg, VA : an immaculate Rancher with NEW  NEW  NEW everything seated on a lot that over 1 acre. You will love the convenience of this home that is  in  great location offering  easy access to I-64 and 199. Commutes to Fort Eustis, Langley, Newport News and even Richmond are made easy. You will feel like you are in the country on a private and treed lot but can be anywhere in minutes. The best of country living combined with suburban convenience.

The Work has been done! 116 Devonshire is move-in ready and pristine! This fabulous home offers so much to its new homeowner and more importantly so little for them to do!

The completely renovated kitchen features stainless appliances, new flooring, freshly painted walls, new lighting, new plumbing fixtures and refaced cabinets. Just adjacent the family room offers a masonry fireplace, new flooring, fresh and neutral paint  and built-ins bookcases.

The bright and light front room offers possibilities as a home office, music room or formal living room. New carpet and fresh paint here also! The charming dining room has all new laminate flooring and fresh paint and is in a perfect location adjacent to the kitchen.

The master bedroom has views of wooded privacy and also offers new carpet, fresh and neutral paint, a ceiling fan and 2 closets. The additional two bedrooms also have new carpet and fresh paint as well as new closet doors. All bedrooms are cable ready!

  All the baths have new and updated flooring, toilets, shower/bath inserts, sinks and plumbing fixtures as well as new lighting fixtures.

  There is a beautiful Screened Porch with  new screening and pickets that overlooks wooded privacy and your very own nature or aviary preserve. The back of the home offers wooded privacy while there is also a fenced side yard that is perfect for play and pets.

Other new features to this compleetlely "New" home: new garage doors and remote, HVAC new in 2008, new fence.

MOVE IN READY and MOVE IN NOW!! 

Please call me at 757.503.1999 or email me at deelynneilson@lizmoore.com to schedule your showing of this spectacular property.

YOU WON'T BE DISAPPOINTED!

 Welcome to 3532 Cedar Branch in The Settlement at Powhatan Creek. Offering brand new and sophisticated one floor living in an upscale 55 plus community, this home is an unbelievable buy at below cost as well as builder pricing. Enjoy a generous yet cozy open floor plan that is perfect for entertaining and easy everyday living.  There are three bedrooms as well as three full baths. Upgrades include hardwood floors throughout, silestone countertops, upgraded lighting and plumbing fixtures as well as built-ins. The kitchen is any homeowner’s dream with an ample island that makes food preparation a pleasure and encourages casual dining.  It is complete with stainless appliances, pantry, silestone countertops, upgraded fixtures as well as an under mount sink.  The great room offers a gas fireplace and plenty of windows for natural light. The charming screened in porch backs to woods for privacy and is the perfect spot for entertaining and relaxing.  Just adjacent you will find the master bedroom complete with a luxurious master bath. Don’t miss the tiled shower with oil rubbed bronze fixtures. The master closet would suit any clotheshorse with plenty of storage as well as shelving.  The large laundry room is conveniently located next to the master bedroom.  Room darkening shades have already been installed in all of the bedroom windows.  You won’t be disappointed!

With 2155 square feet, 3532 Cedar Branch offers 3 generous bedrooms as well as 3 full baths, a dining room as well as a spectacular kitchen that is open to the great room. The screened in porch completes this charming home.

The Settlement at Powhatan Creek is conveniently located off of Monticello near the Monticello shopping center.

Amenities of The Settlement of Powhatan Creek:

More reasons to choose The Settlement at Powhatan Creek:

AREA

Money Magazine ranks Williamsburg in the top FIVE places in the country to retire. The area boasts 21 movie theatres, 500 restaurants, 22 public golf courses, 9 libraries, 7 museums, Colonial Williamsburg, Jamestown Settlement, Yorktown Victory Center, continuing education through the Christopher Wren Association at the College of William & Mary, several hospitals (1-30 miles), and more than 85 doctors' offices.

COMMUNITY

Our community is approved for 400 homes on 225 acres. Two-thirds of the area is protected green space and natural woods. Restaurants and commercial properties are close by but our community remains a small, quiet residential community bordered by the Powhatan Creek. We are around the corner from the 50-mile biking and walking Capital Trail starting at Jamestown and eventually ending in Richmond. Restaurants, recreation, movies and shopping abound within a few miles of our community.

RESIDENTS’ CLUB

The focal point of the community is a multi -million dollar Residents' Club which features indoor and outdoor pools, spa, tennis court, fitness and aerobics rooms, ballroom, spaces for cards, crafts and hobbies, a billiards game room, and a catering kitchen for residents' use. The full-time activities director oversees club operations, organizes neighborhood clubs and interest groups, schedules educational and instructional classes, and plans trips and events.

CARE-FREE LIVING

The Settlement provides exterior maintenance of your home and grounds--standard. This sets us apart from most other communities. Monthly fees include roof replacement, exterior home care, lawn care, irrigation system maintenance, full use of the Residents' Club as well as providing a secured community

MOVE In READY and MOVE IN NOW!!! Call 757.503.1999 today to schedule your own tour of this fabulous home. EXPECT to be IMPRESSED!

Title insurance is insurance, just like any other insurance, except that here it insures against defects in ownership. A policy of title insurance is like a pre‐paid legal agreement: the title insurer will provide legal defense against challenges to the buyer’ insured title (dependent, of course, upon the type of policy coverage) and will reimburse the buyer financially for losses due to covered defects in the buyer’ ownership rights. An owner'spolicy insures buyers that the title to the real estate is free from all defects, liens and encumbrances except those that are listed as exceptions in the policy or are excluded from the policy’s coverage. It also covers losses and damages suffered if the title is unmarketable. The policy also provides coverage for loss if there is no right of access to the land. These are the basic coverages and an enhanced residential owner's policy can be purchased that cover additional items of loss.

If I get owner’s title insurance am I protected?

About as protected as you can possibly get, particularly with an enhanced title insurance policy. I highly recommend it. If you ever have a loan officer or lender tell you that an owner’s policy is not needed (so you can save some money) you ought to ask them why then they require you to pay for a (lender’s) policy to protect them. If you ever have a realestate agent tell you an owner’s policy is not needed you ought to get that in writing so you can later sue them (does not need to be in writing, it’s just that the evidence of the bad advice is better).

Doesn’t the lender’s title insurance policy protect me?

No. It is called a lender’s policy because the lender is the insured, not the buyer, which means the buyer has no rights whatsoever under that policy. Many people think that if a lender’s policy pays the note will be paid and so the loss will not be that great and so they are somewhat protected. This is misguided and wrong for several reasons. First, an owner is not compensated for the equity in the property. Second, even if the lender’s policy “pays off” what in effect happens is that the title insurance company will buy the note from thelender. So even then the buyer is not helped because the title insurance company steps into the shoes of the lender – who has an unpaid note from the buyer – and they can insist a buyer pay regardless whether the collateral for the loan has been lost or not. Besides, a lender’s policy only insures the deed of trust securing the note, not the fee simple title a buyer would be concerned about, and so there are many different coverage provisions is not compensated for the equity in the property. 

Call me at 757.595.5655 or email me at bdlytle@lytlelaw.com

I will be hosting a seminar "Market Watch 2010" for the Ford's Colony neighborhood tomorrow July 15 from 2-4. The seminar will be held in the lower level conference room at the Ford's Colony Country Club. (Next to Harry's Tavern).

Come find out what sales as well as values have been like in the neighborhood  over the past  year.

Find out what has been happening since the tax credit ended as well as what effect the Country Club announcements have made on the sales in the neighborhood. I will also be covering property tax assessed values versus sales price. (Two very different animals!)

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

Check out the video of scenes from Ford's Colony. You won't be disappointed in this beautiful neighborhood.

Ford’s Colony is  a gated golf course community offering an array of amenities and a relaxed lifestyle infused with southern hospitality. Just minutes away from Colonial Williamsburg, this 2800-acre, gated community offers first-class living with 54 holes of golf by Dan Maples,  tennis courts,  2 Olympic sized pools and jogging trails nestled in rolling hills and lush woodlands. It is conveniently located near 199 I-64 and the very best shopping in town!

(photos by Christopher Conway)

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