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        <title>Real Estate Blog</title>
        <link>http://www.jenniferziemer.com/blog/</link>
        <description>Jennifer Ziemer's Blog about Life in Virginia Beach and the real estate market.</description>
        <item>
            <guid>http://www.jenniferziemer.com/blog/todays-real-estate-market.html</guid>
            <link>http://www.jenniferziemer.com/blog/todays-real-estate-market.html</link>
            <author>jenniferziemer@realestategrp.com (Jennifer Ziemer)</author>
            <title>Today's Real Estate Market</title>
            <description> <![CDATA[ 
Today's Real Estate Market is quite interesting.  On one hand we are dealing with rising interest rates and a growing economy.  On the other hand we see rising sales and prices.  What does all of this mean to you, a potential seller or buyer?


Let's take a walk back in time.  The average 30 year fixed rate mortgage 5 years ago (February 2008) was just under 6% at 5.92% with ½ point fee.  The average 30 year fixed rate mortgage was nearly the same in August of 2004 (source Freddie Mac.com).  Rates were almost exactly the same, yet 2004 was a boom year and 2008 was a bust year for real estate.  Gain some perspective by comparing those rates to today's average at 3.53% with .6% fee (according to FreddieMac for the week ending 2/1/2013). The media would have us believe that we will all go down the drain if rates rise, but we won't.  A growing economy will bring growing interest rates but we'll also have more money to pay for these rising costs.  Rates have climbed in the past 3 months and are expected to remain on that track, but no one really knows what the future holds. 


 What I do know is this:  the difference in Principal &amp; Interest payment for a $275,000.00 mortgage at 6% interest versus 3.5% is $413.89 per month. That's quite a bit of dough.  The time to buy is right now.


On the other hand, we have that sales data I mentioned.  In 2010, 30% of homes that were listed on the market sold, as of December 2012 we saw 59.2% of homes listed sold.  What that means for our local market, is rising home prices (we are seeing 4-6% regionally) and a turn towards a seller's market.  Once we see that 60% of homes listed are sold, we would call it a seller's market.  The inventory of homes on the market is lower than the demand, which means, buyers who must buy have fewer homes in which to choose. 


Norfolk alone went up 21% in sales price from December 2011 to December 2012.  That's impressive!  So, interestingly enough, the time to sell your home is right now.


It's a strange market we live in.  The doom and gloom the media portrays doesn't apply as much to Hampton Roads due to our transient community. Let's be thankful for a healthy real estate market for both buyers and sellers! 
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            <pubDate>Wed, 06 Feb 2013 20:09:00 -0500</pubDate>
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            <guid>http://www.jenniferziemer.com/blog/holiday-real-estate-market.html</guid>
            <link>http://www.jenniferziemer.com/blog/holiday-real-estate-market.html</link>
            <author>jenniferziemer@realestategrp.com (Jennifer Ziemer)</author>
            <title>Holiday Real Estate Market</title>
            <description> <![CDATA[ 
In the listing business of real estate, many people ask if they should hold off until after the holidays to list their home.  Some agents recommend waiting until after Super Bowl.  I think it depends on how badly and how quickly you want your home sold.  My most recent listing had proposed this same question to which I answered "how soon and how bad?"  Their particular situation was to hurry and sell so they could buy a home to get closer to family.  In my opinion, list now!  I sold the home in 7 days all over Thanksgiving holiday, and they couldn't be more excited to begin the next chapter. 


The flipside of this equation is that some buyers must buy now.  In fact, I am working with a buyer who will relocate here and report for duty January 2nd.  Their choices for a home are far slimmer than they will be if they were looking for a home in February.  Representing a seller, I will tell them to list now!  Be one of the few choices for those buyers that must buy right now. 


There is truly no right or wrong time.  I know that we perceive certain seasons to be the best time to sell a home, and statistically speaking, we do have seasons of homes selling in greater numbers.  But really, it's about having your home in the best condition, at the right price, with the best marketing, so that when that one, perfect buyer comes around, you'll be ready for them!


 
 ]]> </description>
            <pubDate>Wed, 05 Dec 2012 14:33:00 -0500</pubDate>
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            <guid>http://www.jenniferziemer.com/blog/my-life-at-the-alanton-baycliff-pool.html</guid>
            <link>http://www.jenniferziemer.com/blog/my-life-at-the-alanton-baycliff-pool.html</link>
            <author>jenniferziemer@realestategrp.com (Jennifer Ziemer)</author>
            <title>Summer's End at the Alanton - Baycliff Pool</title>
            <description> <![CDATA[ 



The Alanton-Baycliff pool was a huge draw as we chose the neighborhood where we will raise our family.  Our search for our neighborhood started with the idea of a large, sprawling yard, excellent public schools, public green space, and BEACHES!  We drove through neighborhoods, walked them on a Saturday with our kids and dog, played on their playgrounds, and timed the drive to the Bay and Oceanfront.  We talked with friends and visited preschools and schools. 


The decision to leave behind our tight-knit Norfolk community in Larchmont was tough, but we sold our home and headed east to a little place called Virginia Beach.  Virginia Beach is a much newer city than Norfolk and with a newer city comes newer community amenities such as parks and rec centers.  One item that was high on our list of priorities was a neighborhood pool.  We felt a neighborhood pool would equal strong community.  We wanted to find a place where our family could really know others and we could be known.  After months of searching and living in my mother’s house we settled on the family friendly neighborhood of Alanton.  Quite a few excellent family friendly neighborhoods have community pools, so the decision was tough, but Alanton just had the right vibe for us.  There were surfboards in the garage, families out riding bikes to the pool and those sprawling yards I mentioned wanting (someone should have warned us against this one!).  After two years in Alanton, I am so glad we took the time to get a feel for a neighborhood.  The great thing as a Realtor, is that all of my research has given me the opportunity to help others find their perfect fit when they just don't have the time.  


The Alanton Baycliff Pool www.abrcpool.com sits on a dozen acres of pristine wetlands.  The pool is run by a volunteer board in which my husband is a member.  Some of the highlights of the pool are the swim team (go Bolts!), morning adult lap swimming, a fully stocked snack bar, friendly life guards and an adult tiki bar with a flat screen TV.  We have numerous family friendly social events like the annual “Out of School Party” which includes a cookout, dancing, a band and swimming of course to help kick off the summer.  The adults are also active in socializing with one another.  This year the pool hosted its annual Oyster Roast, a Tiki Party and a Mexican Fiesta.  The pool is a refuge for many.  Come home from work, grab a cooler of drinks, order a pizza to be delivered pool side and let the kids have fun with their friends.  What could be better? 


The pool closed just weeks ago but the strong community built over the summer months carry into our fall and winter, and I look forward to backyard cookouts, firepits, and football with great friends!  After all, isn’t that why we live in a community in the first place?


 Jennifer Ziemer -Realtor


The Real Estate Group - Virginia Beach
 ]]> </description>
            <pubDate>Fri, 24 Aug 2012 16:16:00 -0400</pubDate>
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            <guid>http://www.jenniferziemer.com/blog/mortgage-rate-forecast.html</guid>
            <link>http://www.jenniferziemer.com/blog/mortgage-rate-forecast.html</link>
            <author>jenniferziemer@realestategrp.com (Jennifer Ziemer)</author>
            <title>Mortgage Rate Forecast???????</title>
            <description> <![CDATA[ 
The Cost is More Important Than the  Price


Buyers are often advised to look at the COST of purchasing a house more than the PRICE of the home. Obviously, price is part of the cost equation. The other piece, assuming you are not an all cash buyer, is the mortgage rate. The mortgage rate to finance a purchase can have a dramatic impact on the overall cost. Recently, there are more people talking about the possibility that mortgage rates could begin to increase.


HSH.com studies trends in mortgage rates. They explain: “A better economic climate almost always brings higher rates, and a lessening of the troubles in Europe from massive central bank assistance adds to the movement of money from safe havens to more risky assets, driving rates upward.”


At the end of the day, we don't know what is going to happen.  What we do know is that things move in cycles and the Real Estate market is no different.  These rates won't be here forever and it is unlikely that we will see rates this low again in our lifetime.


Jennifer Ziemer


757-353-0993





 
 ]]> </description>
            <pubDate>Mon, 06 Aug 2012 14:52:00 -0400</pubDate>
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            <guid>http://www.jenniferziemer.com/blog/why-hampton-roads-is-a-great-place-to-raise-a-family.html</guid>
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            <author>jenniferziemer@realestategrp.com (Jennifer Ziemer)</author>
            <title>Why Hampton Roads is a GREAT place to raise a Family:</title>
            <description> <![CDATA[ 
Why Hampton Roads is a GREAT place to raise a Family:


People always ask me what makes the Hampton Roads area a nice place to raise a family.  There are a lot of things in this area that make it the ideal place to raise a family, but here are my top reasons:


Water/Beaches:  Anyone who has flown in or out of the Norfolk International Airport can see that there is no shortage of Water here!  Located on the elbow of the Chesapeake Bay and the Atlantic Ocean, the area is home to some of the best beaches and rivers in the region and arguably the country.  This abundance of water has created a mecca for boating and other water related activities.  Whether you are a seasoned fishermen, surfer or sun worshipper, you will fall in love with all the recreational opportunities this area provides.      


Schools:  This area is home to some of the top ranked public schools in the country.  Virginia Beach in particular was ranked as the 5th best school system in the United States for large sized cities.  I know from my personal experience, I am very pleased with the level of education our children receive in Virginia Beach.  As is the case in all cities, some schools are better than others.  To see the schools rankings visit www.goodschools.com.  It doesn’t take long to see that there is a direct correlation between home values and school districts.  This is something to keep in mind for future resale value.


Convenience:  Everything seems to be less than 20 minutes away.  Each of the cities within the region are fairly self-contained so unless you work on the outskirts of town, the chances are you will be pretty close to everything you need to live.  There is of course traffic that rears its ugly head during peak rush hour but overall if you aren’t crossing a bridge or tunnel to get somewhere, you can get there in 20 minutes or less.


Community:  Living in a neighborhood where people look after one another is part of my American dream.  Another part of that dream is a neighborhood pool.  It is pretty easy to make that dream come true around here.  Some of my fondest memories when I was a kid were running around the neighborhood with my friends, dreading the moment that the street lights would come on.  The sense of community in these neighborhoods is why we moved to Virginia Beach and our kids are enjoying it as much as I did at their age.


Proximity to the Outer Banks and Eastern Shore:  My family has been vacationing in the OBX since I was a little kid.  The Cape Hatteras seashore is one of my favorite places on Earth.  It is so nice to be an hour and change away from such a beautiful place.  It makes for an easy day trip and also a great spot to have a second home.  The same thing can be said about the Eastern Shore which is a picturesque 40 minute drive over the Chesapeake Bay Bridge to historic town of Cape Charles. There you  can enjoy the warm waters of the Chesapeake Bay. 


Jennifer Ziemer 


757-353-0993



 ]]> </description>
            <pubDate>Mon, 06 Aug 2012 14:46:00 -0400</pubDate>
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            <guid>http://www.jenniferziemer.com/blog/why-2012-is-a-great-time-to-buy-a-home-in-hampton-roads.html</guid>
            <link>http://www.jenniferziemer.com/blog/why-2012-is-a-great-time-to-buy-a-home-in-hampton-roads.html</link>
            <author>jenniferziemer@realestategrp.com (Jennifer Ziemer)</author>
            <title>Why 2012 is a great time to buy a home in Hampton Roads</title>
            <description> <![CDATA[ 
5 Reasons that 2012 is the year to buy a home


1). Prices are low!  The market is starting to see an increase in home prices.  This is an indicator that the low home prices we are seeing may not be around for much longer.   If you are interested in being a home owner, then now is the time to do it.  Remember what you learned in Economics 101…. “Buy low and sell high”.  Now is the time to buy low!


2) There aren’t as many foreclosures out there.  What does this mean to a home owner?  Part of the reason for the downward pressure on home prices was the flood of bank owned foreclosures on the market.  Banks are in the business of lending money not owning homes.  When a home owner walks away from a home and the bank is then left with a vacant home, they are incentivized to get that home off of their books by any means necessary.  This often means the slashing the sales price by up to 20% to get the house sold.  Many of these foreclosures are in disrepair which helps to justify the decreased price but too many of these blighted homes in a neighborhood and it starts to bring down the home values of all the neighbors.  With the decreasing number of bank owned homes on the market, more and more homes are being lived in and maintained by home owners, which is good for maintaining home values.


3)  Record Low Interest Rates.  I remember as a child my mother crying as she signed the mortgage paperwork for a new home with a 15% interest rate.  My how times have changed.  To give you some perspective.  If you were to buy a $300,000 home at 1981 interest rates of 15%, your monthly payment would be $3,800 a month for a 30 year fixed rate mortgage.  Take that same house at today’s record low interest rates of 4% and that payment is $1,400 a month.  That is a 63% difference between the two!!!!  This is never going to get any better than it is right now.


4)  Owning is now more affordable than renting.   3 bedroom apartments at the newer apartment complexes that are popping up are renting for around $2,000 a month.  For $2,000 a month you can buy a $350,000 house (this includes taxes and insurance).  Homeownership has never been more affordable than it is right now.


5)  Interest Deduction.  The government incentivizes home ownership by providing interest payment tax deductions.  For example, if you pay $10,000 in interest payments to your mortgage lender in a year, you will be able to deduct that cost which will save you approximately 3,000 in taxes.  When you rent, you can’t deduct your rent.    Imagine what you could do with $3,000 extra dollars!


Jennife Ziemer


757-353-0993



 ]]> </description>
            <pubDate>Mon, 06 Aug 2012 14:42:00 -0400</pubDate>
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            <guid>http://www.jenniferziemer.com/blog/overheard-this-weekend.html</guid>
            <link>http://www.jenniferziemer.com/blog/overheard-this-weekend.html</link>
            <author>jenniferziemer@realestategrp.com (Jennifer Ziemer)</author>
            <title>Overheard This Weekend</title>
            <description> <![CDATA[ 
Overheard this weekend


I was at a Girl Scout end-of-year pool party on Sunday afternoon.  There were 7 little girls and all of their family members meeting in the backyard of one of the parents, willing to entertain this crowd.  We were in the beautiful Chelsea neighborhood in Virginia Beach, which is lush with mature trees, waterfront homes, with a historic flair.  The homeowners had done a beautiful job updating the home but keeping the historic character of a reproduction period home.  The homes in Chelsea have the character of a home you would find in Norfolk’s Larchmont or Lochaven neighborhoods.  But, the neighborhood is 3 miles to the Chesapeake Bay Beaches (Chicks Beach) and 5 miles to the North End Beaches.  It is situated on Great Neck Road, a popular artery in VB that connects Shore Drive and Virginia Beach Boulevard.  The Great Neck area is full of amenities for families, DINKS and singles like: First Landing State Park bike trails and nature walks,  Broad Bay Country Club and Golf Course, great restaurants like Havana (a lively night spot with delicious Cuban-style food, a good wine and beer selection and great martinis, mojitos and margaritas), Coastal Grill (an upscale local’s favorite for seafood), Citrus (the best breakfast place around-you must try their sweet potato ham biscuits or citrus pancakes topped with citrusy fruit like pineapple), and if live music is your thing then you can check out Hot Tuna and H2O around the corner.


So we were all talking about where we are from and many of us had grown up in Virginia Beach, moved away for jobs or adventure, and came back to raise a family.  Many said that we never thought we would come back but you just cannot beat living in Virginia Beach.  The host said that she told a friend considering a move from Norfolk that living in Virginia Beach is like being on vacation.  I could not agree more.  We made the move from Norfolk’s Larchmont neighborhood 1 and a half years ago.  It was a very difficult decision for us.  Our community was in Norfolk; we were active members of Trinity Presbyterian Church in historic Ghent, and had lived in Norfolk’s Colonial Place, Winona Lafayette Residence Park, and Larchmont during our 8 years there.  Our daughters went to LUMP (Larchmont United Methodist Preschool) which was a family of its own and Larchmont Elementary, a highly-ranked neighborhood school.  But, as our girls got older and our desire to have a third child loomed, we were lured to the nationally ranked schools in Virginia Beach, the beautiful beaches and recreation opportunities, and a large yard to run and play.


Living in a city where you bike to your neighborhood pool, are on the beach in 8 minutes from your doorstep, and hit the back deck of Chix Oyster Bar, Dockside or The Shellfish Co. for a sunset cocktail all in one day is like being on vacation.


Jennifer Ziemer


757-353-0993



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            <pubDate>Tue, 24 Jul 2012 21:40:00 -0400</pubDate>
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