#Real Estate Agent Williamsburg Virginia

[realtorhampton]

1st Class Real Estate

[broadcastarchive-umd]

#VoxPop Audiences tuning into the long-running radio program Vox Pop heard the voices of Parks Johnson, his co-hosts, and the men and women they interviewed. However, there were men and women behind the scenes who helped put the show on the air that the listening audiences never heard. 

One such person was  Charles “Buzz” Willis, who joined Vox Pop in 1946 as a producer and then succeeded Rogers Brackett as director to finish out the run of the show before it went off the air in 1948. Here, Willis directs the second-to-last Vox Pop broadcast on May 12, 1948. They broadcast from Colonial Williamsburg in Virginia to highlight early American history. The African American man seated behind Parks Johnson is Fleming Brown, who was the custodian of the Governor’s Palace and a fixture at the historic site for 25 years. 

After Vox Pop went off the air in 1948, Willis became a real estate agent in Greenvale, New York. He passed away in 1987 at the age of 67.

Source: Parks Johnson collection on Vox Pop

[saidirealty]

Why Pick The Best Real Estate Markets VA For An Affordable Property?

In the real estate world, finding an affordable house can be difficult. There are some areas, though, where the best real estate markets VA present a special combination of potential and affordability. Virginia is a great alternative for people looking for reasonably priced real estate because of its varied landscapes, vibrant neighborhoods, and stable economy.

The Best Real Estate Markets VA For An Affordable Property

Everybody wants to have an affordable property. Somehow, in very few cases, it becomes possible. If you choose the best real estate market, you can easily make it happen. Continue reading to know the reasons.

1. Stability of the Economy

Virginia's economy is strong and steady, partly because of its close proximity to the federal capital. A stable job market has been facilitated by the existence of government agencies, defense contractors, and technological enterprises. Virginia is a desirable location for people and families seeking reasonably priced real estate without sacrificing employment opportunities due to its stable economy. You may also look for a property for business investment opportunities VA in the best real estate market.

2. A Range of Places

From the picturesque splendor of the Shenandoah Valley to the dynamic metropolitan scene of Northern Virginia, the state offers a broad selection of sites to suit different tastes. The real estate markets in Virginia offer choices for every lifestyle, whether you prefer the quiet of rural locations or the hustle and bustle of the metropolis.

3. Learning Possibilities

Another strong point for families with kids is Virginia's educational system. The state is a great option for people wishing to invest in a home that provides access to high-quality education because it is home to respected schools, colleges, and institutions.

4. Accessibility Despite Expansion

Virginia has succeeded in striking a balance, in contrast to certain states that see a fast expansion that can result in skyrocketing housing values. Even in the midst of economic expansion, its buyers market buyers agents VA provide affordability, giving purchasers the chance to invest in a property that will probably increase in value over time.

5. Diversity of Cultures

Virginia is rich in culture and history, drawing tourists from all over the world to sites like Monticello and Colonial Williamsburg. The state's diverse population adds intangible value to real estate, making it an attractive destination to live.

Buy A Property At A Reasonable Price By Choosing An Experienced Agent!

For individuals looking for reasonably priced real estate in a stable and thriving economy, the best real estate markets VA make a strong argument. Virginia is a great option for people and families wishing to invest wisely in real estate while living in a high-quality state because of its many locations, educational options, and diverse cultural offerings. If you want to buy a property reasonably under your budget, you must contact Saidirealty. They help their clients with the best property offers. You may visit them for the best deals!

[exitrealtycentral]

Meet Marie Priola, REALTOR®

Aloha! I am Marie L. Priola, dedicated REALTOR®, real estate investor, military wife, and mother. She has a Bachelor’s of Science degree from Chaminade University of Honolulu, Hawaii with some courses in business, marketing, and entrepreneur. Being a member of HRRA (Hampton Roads REALTOR® Association) this holds her to a higher standard of education, training, and a code of ethics. She is also a member of PREIA (VA Peninsula Real Estate Investors Association) since 2014 that introduces her to many investors, cash buyers, and vendors in the area to help sell your distressed property for cash NOW! She has a loving husband that is a service member in the United States Navy so she understand having to move from one state to another with little to no notice, so she is perfect agent to help put your home on the market, up for rent, or help you find a home to buy for you and your family. She stays involved with the community by attending local events, military events, festivals, etc. She also has over 10 years of customer service experience, years of real estate investing knowledge, college education and training. I have an amazing international company with EXIT Realty Central that donates to Habitat For Humanity International with a portion of each transaction, we work as a team to provide the best service for your needs, we have a marketing team with over 25 years of experience plus many awards for top producers, sales agents of the year, Outstanding Service, and many more.

Originally from the beautiful beaches of Hawaii Marie L. Priola has lived most of the time between Hawaii and California, and moved to Hampton Roads area where she fell in love with how family oriented it is here, with great military support systems, and the beauty of the area “especially during the fall!” She keeps herself busy by continuing her education and training in both real estate investing, marketing, and networking in local social events. Marie enjoys indoor and outdoor activities with her family such as camping, going to local events and festivals, rock climbing, indoor skydiving, scuba diving, visiting the local museums, spending summers on the beach, hiking, and traveling to new and exciting places. When she’s not working with clients she makes time for her daughter that is an active daisy girl scout, soccer player, cheerleader, gymnast, swimmer, t-ball player, and which ever new sport or activity she decides to try next! She is active with Fleet and Family events and assisting in their mentor programs and helping military spouses with potential careers in real estate.

EXIT Realty Central

Marie is ready to assist in finding you your dream home or sell your home so you can start your next adventure. She works all over Hampton Roads area (Poquoson, Yorktown, Hampton, Newport News, Williamsburg, Seaford, Norfolk, Virginia Beach, Chesapeake, Portsmouth, and Suffolk). Feel free to call, text, or email her at:

Email: marielpriola@gmail.com

Website: https://mariepriola.exitcentralhr.com

FB: https://www.facebook.com/marielpriola/

Cell Phone: 757-912-3372

[shortsalevirginia-blog]

Virginia Beach Short Sale

One Columbus Center, Suite 700,  Virginia Beach, VA 23462

http://www.shortsalevirginiabeach.com/

Virginia Beach short sale requires a unique set of skills for a real estate agent and the short sale approval can very much depend on how your agent negotiates with the lender and buyer. Our short sale team has a high success rate on approvals from the banks and closed short sales in Virginia Beach 23450, 23451, 23452, 23453, 23454, 23455, 23456, 23457, 23458, 23459, 23460, 23461, 23462, 23463, 23464, 23465, 23466, 23467, 23471, 23479, 23518, 23521, Norfolk, Chesapeake, Portsmouth, Suffolk, Hampton, Williamsburg, Poquoson, and Newport News, Virginia. Short sale Virginia Beach only occurs when there is an absolute warranty that the cash value of the house can not increase in the future. To avoid the risk of a total loss, the financial institution usually accepts the lowered amount of short sale. Virginia Beach short sales are complicated but, can help sellers who owe more than home is worth. A short sale occurs when a property is sold for less than the total debt owed on the property. Virginia Beach short sale must be approved by the lenders and borrowers requesting a short sale must prove a hardship such as a mortgage payment increase, job loss, divorce, excessive debt, forced or unplanned relocation.

[moonlightnews]

Capital Valuations Company Announces The Launch Of Its New Website

December 10, 2022, Virginia Beach, VA Capital Valuations Company, a full-service appraisal company, has announced the launch of its new website. This website offers an improved way for customers to contact them as well as information on the services they offer and how to order one.

Capital Valuations Company is a full-service real estate appraisal company serving Virginia Beach, Norfolk, Chesapeake, Portsmouth, Suffolk, Hampton, Poquoson, Newport News, Williamsburg, and York County areas. This Company is committed to providing its clients with accurate and concise valuations in a timely manner. They offer free estimates for your project needs as well as fast turnaround times at competitive prices that can't be beaten! Whether you're looking to buy, sell, or lease property, the Capital Valuations Company website is your one-stop shop for all your real estate appraisal needs. Kindly click here: capitalvaluationsva.com

Capital Valuations Company is a reliable and trustworthy online business. The company’s website is user-friendly and offers a convenient service to users. Capital Valuations Company still believes in customer service and referrals, especially when it comes to their customers. This company’s 5-star rating on Google is evidence of the high quality of its business practices, meaning that many investors make use of its services.

Appraisal reports are a vital component of any real estate transaction. A thorough appraisal is required by mortgage lenders, housing agencies, real estate agents, and investors. In fact, it is nearly impossible to obtain financing without one. This company provides professional and fast real estate appraisal services for homeowners, mortgage lenders, real estate attorneys, and accountants when an accurate appraisal is needed. To learn more, visit capitalvaluationsva.com/services/

It can also do detailed reviews, rental schedules, and if needed, other desktop appraisal forms. Capital Valuations Company stands out from its competitors because it knows the local market well, has quick and easy processes, has experience with quick turnaround, and is always on time. 

I'm relocating from Costa Rica to Virginia Beach. I chose Capital Valuations for a house I'm about to buy because it has proven to be the best service for having everything clear and highly reliable. They have my highest recommendation for any regional appraisal service. Until then, Pura Vida! "See you at the beach!"

Capital Valuations Company strives to customize its services to match each client's specific needs because they recognize that every customer has different needs. I recommend getting in touch with Capital Valuations Company right away if you require an appraiser. They would be happy to discuss your specific needs and provide you with a quote for their services.

About Capital Valuations Company

Capital Valuations is a full-service appraisal company. Its mission is to provide its clients with accurate, reliable, and timely appraisals. They’re dedicated to providing the highest level of customer service and take pride in their work. Capital Valuations Company's goal is to exceed your expectations.

No matter what your appraisal needs are, Capital Valuations Company is here to help. They pride themselves on being professional and efficient and always putting their clients first. Contact Capital Valuations Company today to learn more about their services and how they can help you!

Contact Information

Company name: Capital Valuations

Email address: capitalvaluationsva@gmail.com

Contact name: Joseph T Ellington Jr

Phone number: 757-831-6234

Address: 857 24th St, Virginia Beach, VA 23451 USA

Website: capitalvaluationsva.com

[tsgwilliamsburgvirginia]

Scouted Listings from John Martin: English Country Manor, Contemporary New England, Modern Flare and Custom Built

In the market for a new home? We’ve scouted some incredible Williamsburg listings from John Martin of Shaheen, Ruth, Martin & Fonville.

East Landing

Rare to the market in exclusive Burwell's Landing is this renovated English country manor with modern day finishes and design. A true colonial work of art with extensive moldings, casings, rich mahogany paneling, two spacious master suites downstairs, completely separate guest quarters, remodeled custom kitchen, hardwood floors throughout, eight bedrooms, six full baths, study, tavern room and a private pool overlooking the second hole at the Plantation Course. See the complete listing here.

Cypress Point

This contemporary, New England style house was designed by Williamsburg architect Carlton Abbot and local builder Bob Ripley and is surrounded by wetlands and a 1,000 feet of shoreline on a private 10 acre lot. Beautifully located on a point overlooking the James River and the mouth of the Chickahominy River. The property boasts vaulted ceilings off the foyer and a cozy library with chestnut paneling custom made for over 1000 books. There are windows at every turn and the center anchor of the property is the custom sunroom with exposed beams and floor to ceiling windows. A true masterpiece of a property and one of the best locations in the region for living life on the water, but still being less than an hour from Richmond and 20 minutes from Colonial Williamsburg. See the complete listing here. 

Lake Powell

Want to move into a fully renovated custom home on five acres in the heart of Williamsburg, just passed the Williamsburg Winery? See this complete listing here.  

William Spencer

Rare to the market is this home, located in Spencer's Grant in Kingsmill on the James. This house is perfect for those looking for a newer custom-built home with a master on the first floor with tastefully designed custom kitchen, fixtures and furnishings. The home offers Brazilian cherry floors, two-toned painted cabinets with center island, stone countertops, eat-in bay window, two-story family room with coffered ceilings, master suite with extended ceilings, master bath with custom glass shower, soaking tub and ample walk-in closet space, formal dining room and bonus downstairs study or den. See the complete listing here. 

ABOUT JOHN MARTIN

With nearly two decades of real estate experience, John Martin has proven to be a top broker in the region, with the highest honors in production with over $130,000,000 in sales in the last five years alone.

John has a deep knowledge of Virginia real estate, and he has worked successfully to fill the gap between the Richmond, Williamsburg and Peninsula markets.

He understands properties of all price points, from luxury to waterfront, from Governor’s Land to Goochland, from Henrico to Kingsmill on the James, to Yorktown, Hampton and the historic Fan District of Richmond.

REAL Trends named John to its “Best Realtors in America” list for his yearly sales volume, and he has achieved countless Broker Management accolades for agent production, retention, and management.

John is a proud owner of Shaheen, Ruth, Martin & Fonville Real Estate, and he divides his time between offices in Richmond and Williamsburg.

As a founder and leader in the firm, John is firmly committed to staying on top of technology, marketing, branding, and market knowledge.

He believes character is everything, and that his own professional experience leads to better experiences for his clients and agents.

John is a graduate of Hampton Roads Academy in Newport News and Hampden-Sydney College in Farmville.

He and his wife, Holly, also a licensed Realtor with the firm, live in the City of Richmond with their three amazing children.

Contact John Direct at 804-928-6292 in Richmond or 757-870-2893 in Williamsburg.

See all of his listings here.

[atlasmediaseo]

Real Estate Agent Williamsburg Virginia

[realtorinvirginiabeach-blog]

Top Realtor In Hampton Roads VA: Local Real Estate Office For Future Hampton Roads Home Seekers  -  757- 739- 0772

Top Realtor Hampton Roads VA: Local Real Estate Office For Future Hampton Roads Home  Seekers

http://RealtorAshleyRose.com

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Call Today to get information about beautiful Hampton Roads VA   757- 739-0772

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Ashley Rose Of  ERA Real Estate Professionals Virginia Beach VA 757-739-0772: Discusses the area and gives Incredible Strategies On How To Find a Good Realtor in Hampton Roads VA

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Call Ashley Today!

406- 291-8622

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 How do you find a good realtor? I get asked that question quite often.

 The problem is that finding a good realtor can feel overwhelming

And the good news is that it doesn’t have to be difficult if you know what questions to ask

Searching for a good realtor to suit a client’s needs can be challenging.  Finding a good realtor that is close by, with flexibility like extended hours and exceptional expertise can feel like a tough search.

  I’d like to give a few tips to finding a great local realtor

 TIP # 1         What’s their Reputation?  You want to make sure that they have a great reputation so read at least 6 to 10 reviews because it really will give you comfort before you make your decision..

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Check out Ashley’s Reputation here https://youtu.be/gl-AgM3ttms

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TIP #2         Are They Personable?  Do they listen? Is this someone you will feel confident working with? You’ll feel much better about your decision if you find a professional that is listens and is approachable.

 TIP #3         What are their credentials?  You want to make sure that you are choosing a professional that has the training and education that can help you have a comfortable and joyous selling or purchasing experience.

 Our expertise is creating a Real Estate experience they will always remember fondly and we focus on helping potential clients have peace of mind when buying or selling.  For those that want to learn more, they can simply go to www.RealtorAshleyRose.com   Or they can call us for a free consultation at

757-739-0772

 We are happy to help, because happy clients are the key to our success and we achieve our goals by helping our clients achieve their goals.

 Click here>>>> http://RealtorAshleyRose.com

 Wikipedia

https://en.wikipedia.org/wiki/Hampton_Roads

The Hampton Roads area consists of nine independent cities (which are not part of any county). Chesapeake, Norfolk, Portsmouth, Suffolk, and Virginia Beach cover the Southside of Hampton Roads while Hampton, Newport News, Poquoson, and Williamsburg reside on the Peninsula.

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Get More Details ….Call Ashley Today!

757-739-0772

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 More Information about Hampton Roads Real Estate, Real Estate, Best Real Estate Agent Hampton Roads, ERA Real Estate Professionals, realtors in hampton roads, hampton roads realtors. hampton roads realtor

 Click Here http://RealtorAshleyRose.com

 Wikipedia

VA Loans For Home Seekers

https://en.wikipedia.org/wiki/VA_loan

The Veteran Loan program is designed for veterans who meet the minimum number of days of completed service. Some of the other eligibility requirement for the VA loan program[4] and some specific home loan benefits include the length of service or service commitment, duty status and character of service. The program does allow for benefits to Surviving Spouses.

The VA does not have a minimum credit score used for pre-qualifying for a mortgage loan.

Homeownership is a dream for many citizens.  There are a variety of resources available to assist prospective homebuyers.

Unfortunately, even though home ownership in Virginia Beach can be very affordable, the cost of a down payment or closing costs often act as a barrier to buying. In addition, many people do not know enough about how to become a homeowner or how to qualify for a mortgage.  

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Call Ashley Today!

757-739-0772

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CONNECT WITH US:

http://RealtorAshleyRose.com

CONNECT WITH US ON FACEBOOK

https://www.facebook.com/ashleyrosesoldit/

 CONNECT WITH US ON YOUTUBE.COM

https://www.youtube.com/channel/UCDSPOPCgkdbfkTW7vlqSG3A

 For additional information on this topic can contact Ashley Rose  at:

 757-739-0772

Ashley Rose

ERA Real Estate Professionals

1445 Kempsville Rd.

Virginia Beach VA 23464

[cathrynstreich]

Howard Hanna Holds Southeast Region Awards Event to Celebrate Associates’ Success

Howard Hanna Real Estate Services held its annual Southeast Region Awards event to celebrate the success of its agents and associates on Feb. 12. This year, Howard Hanna agents and associates in the Southeast Region were honored with numerous awards, including:

National Sales Excellence Award, recognizing agents who rank in the top 5 percent of real estate agents nationally

Green Penguin Award (formerly Quality Service Award), honoring agents with exceptional client evaluations

Awards for top producers in each office by sales and listing volume

Best of the Best and Very Best of the Best awards celebrating the company’s top-producing agents overall

“Our awards events are a time to celebrate our sales associates’ and region’s successes. It’s a culmination of tireless work and great achievement. We also see it as an opportunity to unveil and showcase upcoming technology releases, innovative sales programs like Move Faster, and demonstrate the value of the Howard Hanna brand,” said Dennis A. Cestra, Jr., president, Southeast Region at Howard Hanna and grandson of company founder Howard W. Hanna, Jr.

Howard W. “Hoby” Hanna, IV, president of Howard Hanna Real Estate Services, added, “This year is an especially important milestone as we launch our new mission, vision and values to the world after the exciting unveiling at Howard Hanna Convention 2019. Developed as part of a yearlong effort to reflect the values of the associates and employees of Howard Hanna, these guideposts celebrate what we do best: Make a difference in people’s lives.”

This year’s awards event comes on the heels of a successful year for Howard Hanna in Southeast Virginia and North Carolina:

$1.4 billion in closed volume

12 percent growth in overall marketshare

28 percent growth in Williamsburg, Va., area

4,918 closed units

3,655 listings

2,801 units under management

The event was held at The Main in Norfolk, Va., at 3:00 p.m. and was open to Howard Hanna real estate agents in the Southeast Region. Helen Hanna Casey, CEO; Annie Hanna Cestra, COO; Annie Hanna Engel, Esq., president and COO of Howard Hanna Insurance Services; F. Duffy Hanna, Esq., president of Howard Hanna Financial Services; and Cestra, Jr., hosted the event, along with the region’s managers and department heads.

Credit: Howard Hanna Real Estate Services

Credit: Howard Hanna Real Estate Services

For more information, please visit www.howardhanna.com.

The post Howard Hanna Holds Southeast Region Awards Event to Celebrate Associates’ Success appeared first on RISMedia.

Howard Hanna Holds Southeast Region Awards Event to Celebrate Associates’ Success published first on https://thegardenresidences.tumblr.com/

[exitrealtycentral]

Meet Marie Priola, REALTOR®

Meet Marie Priola, REALTOR®

Aloha I am Marie L. Priola, dedicated REALTOR®, real estate investor, military wife, and mother. She has a Bachelor’s of Science degree from Chaminade University of Honolulu, Hawaii with some courses in business, marketing, and entrepreneur. Being a member of HRRA (Hampton Roads REALTOR® Association) this holds her to a higher standard of education, training, and a code of ethics. She is also a member of PREIA (VA Peninsula Real Estate Investors Association) since 2014 that introduces her to many investors, cash buyers, and vendors in the area to help sell your distressed property for cash NOW! She has a loving husband that is a service member in the United States Navy so she understand having to move from one state to another with little to no notice, so she is perfect agent to help put your home on the market, up for rent, or help you find a home to buy for you and your family. She stays involved with the community by attending local events, military events, festivals, etc. She also has over 10 years of customer service experience, years of real estate investing knowledge, college education and training. I have an amazing international company with EXIT Realty Central that donates to Habitat For Humanity International with a portion of each transaction, we work as a team to provide the best service for your needs, we have a marketing team with over 25 years of experience plus many awards for top producers, sales agents of the year, Outstanding Service, and many more.

Originally from the beautiful beaches of Hawaii Marie L. Priola has lived most of the time between Hawaii and California, and moved to Hampton Roads area where she fell in love with how family oriented it is here, with great military support systems, and the beauty of the area “especially during the fall!” She keeps herself busy by continuing her education and training in both real estate investing, marketing, and networking in local social events. Marie enjoys indoor and outdoor activities with her family such as camping, going to local events and festivals, rock climbing, indoor skydiving, scuba diving, visiting the local museums, spending summers on the beach, hiking, and traveling to new and exciting places. When she’s not working with clients she makes time for her daughter that is an active daisy girl scout, soccer player, cheerleader, gymnast, swimmer, t-ball player, and which ever new sport or activity she decides to try next! She is active with Fleet and Family events and assisting in their mentor programs and helping military spouses with potential careers in real estate.

EXIT Realty Central

Marie is ready to assist in finding you your dream home or sell your home so you can start your next adventure. She works all over Hampton Roads area (Poquoson, Yorktown, Hampton, Newport News, Williamsburg, Seaford, Norfolk, Virginia Beach, Chesapeake, Portsmouth, and Suffolk). Feel free to call, text, or email her at:

Email: marielpriola@gmail.com

Website: http://mariepriola.SearchCoastalVAHomes.com/

FB: https://www.facebook.com/marielpriola/

Cell Phone: 757-912-3372

[dependablehomebuyersactiverain]

Home Selling Options For Homes in Williamsburg With Structural Issues

Williamsburg, Virginia - Dependable Homebuyers in Williamsburg has begun to offer help to homeowners that have houses with structural damage. When a home has structural problems, it can take a very long time to sell it. The house will sit on the market and continue to deteriorate causing more costly problems. The real estate market is currently a buyers market, and for this reason, people do not want to purchase homes that are in need of costly repairs, especially if those repairs are due to issues with the overall structure.Dependable Homebuyers is a We Buy Houses company that has built a reputation in the Williamsburg area as an investment company that is willing to help homeowners when they may not see another way to quickly sell their home. They will make a reasonable cash offer on a house regardless of the condition or even the location of it. If a house lacks curb appeal, that is okay too.Problems like a cracked foundation, sagging floors, or space around the windows and doors can indicate that the home has structural issues. This is something that typical buyers shy away from and many real estate agents will not even list a home with such problems. Investors like Dependable Homebuyers are willing to make an offer on the home.Hoarder homes are a new adventure that Dependable Homebuyers is taking on. These types of homes are very hard to sell with a traditional real estate agent. People do not want to make an offer on a home that is full of clutter. Hoarder homes also indicate that there are other problems with the house as well such as mold, or even structural problems. Dependable Homebuyers is offering a way for people that own those types of homes to be able to sell them without having to invest money into costly repairs.The process of selling a house to Dependable Homebuyers consists of 4 basic steps. First, the homeowner has to contact Dependable Homebuyers about the potential property for sale. At that point, an appointment will be made for a representative to come out and take a look at the property. Within 24 hours, they will prepare a cash offer and present it to the homeowner. The homeowner if never under any obligation to accept that offer and they will never be pressured by Dependable Homebuyers. Should they accept the offer, closing is set up and the deal is completed within 7 days. Dependable Homebuyers is a team of real estate investors in the Hampton Roads area.Dependable Homebuyers is looking to purchase homes in the Williamsburg area from people who are looking to sell quickly. Even if the house is in an undesirable location, they will still make an offer on it.Sometimes homeowners find themselves faced with circumstances making it necessary to sell their home quickly. This is where Dependable Homebuyers comes in to help. They understand that often homeowners do not have the budget to make repairs on a house in order to place it on the market. As investors they will buy the house as it sits and make all of the necessary repairs.If a homeowner finds themselves in a situation where selling quickly is necessary, they are encouraged to reach out to Dependable Homebuyers and get the process started. Source : https://www.pressadvantage.com/story/25626-dependable-homebuyers-offers-home-selling-options-for-homeowners-in-williamsburg-with-structural-issu Previous ActiveRain Post: http://activerain.com/blogsview/5347177/dependable-homebuyers-creates-controversy-with-recent-we-buy-houses-ad Dependable Homebuyers’ ActiveRain profile can be viewed here: https://activerain.com/profile/dependablehomebuyers/ Dependable Homebuyers’ ActiveRain blog can be viewed here: https://activerain.com/blogs/dependablehomebuyers  Dependable Homebuyers109 Warwick Hills, Williamsburg, VA 23188(757) 347-0457  

[davidoespailla]

Amazon’s New Headquarters May Be a Prime Deal for Two Cities, but Where Will Workers Live?

Getty Images; realtor.com

For the past year, Amazon has artfully whipped cities all over the country into a frenzy as they vied for a prize: home to the online retailing giant’s second corporate headquarters and up to 50,000 high-paying jobs. And now it appears there’s not one, but two winners. Ooh, last-minute plot twists!

The tech giant is reportedly close to deals to split HQ2, as it’s known, between Long Island City, a burgeoning Queens neighborhood in New York City, and Crystal City, an Arlington, VA, area just across the river from Washington, DC. (Amazon officials have declined to comment.) The addition of up to 25,000 jobs with average salaries topping $100,000 is something local politicians will brag about for years.

But these cities, and the folks who live in them, may not want to pop open the Champagne just yet. The new headquarters are likely to worsen some of the problems both of these uber-pricey metros are grappling with: namely the lack of affordable housing, and traffic and public transit woes.

For clues on what may be in store for these markets, experts are looking westward to Seattle, Amazon’s birthplace and current home.

Over the course of its two-decade existence, the online behemoth has utterly transformed this coastal city, creating a turbocharged economy and a go-go housing market to match. Seattle rebounded more quickly from the past recession than most other places. But home prices rose rapidly as more well-paid workers flocked to the area and many longtime residents were priced out. Median list prices shot up 12.1% just in the past year, to a median $550,050 in the Seattle metro area as of Oct. 1, according to the most recent realtor.com® data available. That’s much higher price growth than the 7.3% rise nationally.

“They created a big problem with a lack of affordable housing in Seattle,” says KC Conway, chief economist at CCIM Institute, a Chicago-based commercial real estate professional group. “And now they’re dragging it with them to the East Coast.”

Even with only 25,000 workers apiece, each of the two new sites will still be among the largest corporate relocations or expansions ever, says Andrew Scott, a Chicago-based attorney who specializes in corporate site selections at Dykema. That means there’s no point of comparison for how this will shake out for the winning cities in the long term.

“You just don’t know what the ripple effects are going to be on a particular location,” he says.

(In separate news, it appears that Google is looking for additional space to accommodate up to 12,000 additional workers to Manhattan’s chic West Village neighborhood in New York City, according to The Wall Street Journal.)

Jonathan Miller of Miller Samuel, a New York City–based real estate appraiser, believes rents and home prices will go up 5% to 10% as a result of Amazon moving into these cities.

Real estate prices poised to soar in Long Island City

Long Island City has already gone through a dramatic reinvention in recent years.

Located directly across the East River from Manhattan, it was once a desolate hellscape of abandoned warehouses and high crime. But developers transformed the area, putting up a spate of luxury high-rises along the waterfront, many of them expensive rentals.

Over the past year or so, developers have been forced to offer concessions to lure tenants and buyers who have their choice of recently opened buildings in the neighborhood. But since the news leaked this week that Amazon is likely moving in, those same developers have been emailing local real estate broker Eric Benaim of Modern Spaces to say they need to raise prices.

“It’s going to turn Long Island City into the new Silicon Valley,” Benaim says.

Not long ago the area seemed in danger of becoming overdeveloped. But that same building boom may become its saving grace if Amazon comes into town: 6,000 new rentals are in the pipeline to come on the market over the next three years, Benaim says. The mix of predominantly studio, one-bedroom, and two-bedroom apartments is in addition to the roughly 650 to 750 apartments already on the market.

In addition, about 2,100 new condo units are projected to go up for sale over the next 15 months. These are mostly one- and two-bedroom units with a smaller percentage of studios and three- and four-bedrooms units mixed in. Currently, there are around 350 condos for sale.

But even this much housing won’t be enough if all 25,000 workers come to town. With a limited supply and increased demand, Benaim expects incentives will disappear and then prices will go up—at least a few hundred dollars a month for renters. Monthly rents averaged nearly $3,500 for a one-bedroom apartment and $4,700 for a two-bedroom apartment in the third quarter of the year, according to Modern Spaces.

Meanwhile, condo prices could rise 10% to 15% over the next few years, he predicts. They averaged just over $800,000 for one-bedroom units and nearly $1.3 million for two-bedroom units in the third quarter of 2018, according to Modern Spaces.

And the neighborhoods adjacent to Long Island City would likely absorb some of the new residents. The surrounding Queens neighborhoods of Astoria and Sunnyside, middle-class enclaves of single- and multi-family brick and row homes, have already been rapidly gentrifying in recent years. Trendy Brooklyn neighborhoods such as Williamsburg are also nearby. Even the tony Upper East Side of Manhattan, which sits just across the river, is likely to be affected.

The increase in highly paid jobs will be a boon to the area, says Rob MacKay, spokesman for the Queens Economic Development Corp. But some fear that Queens, one of the most ethnically diverse corners of the nation, may lose some of the character that it’s known for. Its middle-class and immigrant residents are already being pushed out by increasingly higher prices. Amazon is likely to only exacerbate the flight as more luxury buildings go up well out of the price ranges of existing residents.

And not every resident is thrilled at the prospect of an influx of new neighbors. Wayne Chiarella, 42, has been renting in the neighborhood for 14 years. He shares a two-bedroom apartment with his girlfriend, and he says that the rush-hour trains at his stop are already unbearably packed.

“I just can’t imagine how much worse it’s going to be when there’s an additional 25,000 people commuting in and out of the neighborhood every day,” he says.

Where will Crystal City workers live?

Crystal City, a neighborhood of mostly bland concrete office and government buildings, may not seem like a top pick for one of the world’s most exciting companies.

But located right outside DC proper and sandwiched between the Pentagon and Ronald Reagan Washington National Airport, the area would make an ideal base for lobbying and meetings on Capitol Hill (as well as drop-ins by Amazon CEO Jeff Bezos, who owns a house in DC). And it has easy access to a diverse, highly skilled workforce.

Still, it’s not all roses. Northern Virginia is already struggling with heavy traffic and a lack of housing across the price spectrum. To accommodate the potential new workers, the area will need to undergo something of a housing boom of high-rise rental buildings and townhomes, says Robert Dietz, chief economist for the National Association of Home Builders.

Now, that could be eased a little by the roughly 9,500 new apartment units expected to go online in the Washington, DC, metro area by the end of the year, according to apartment listings website RENTCafé.

But that’s a 19% decline from 2017, and about 88% are expected to be pricier units. And as in Queens, the rumors of Amazon’s likely arrival is already pushing up costs.

After getting wind of the Amazon move, real estate agent Jordan Stuart increased the price of a two-bedroom condo in an older building in Crystal City by $20,000, to $580,000, with his client’s permission. The home has been on the market for two months.

“Crystal City doesn’t have many residential opportunities,” says Stuart, of Keller Williams Capital Properties. There isn’t much land nearby to build new homes, either.

What’s available is mostly rentals, with a few condos sprinkled in. The neighborhood of Aurora Highlands, which offers older, single-family homes, is just next door. But as of Wednesday, there were only six homes there for sale on realtor.com. They range from $850,000 to $1.4 million, Stuart says.

“The midtier inventory [between $450,000 and $700,000] right now is stable. You can definitely find product,” Stuart says. But that’s not likely to last if Amazon workers start descending. “Those are the first homes that are going to get shorted.”

Amazon HQ2 losers may turn out to be the biggest winners

While New York City and Washington, DC–area officials are salivating over what all of those good-paying Amazon gigs will mean for their economies and tax revenues, the biggest winners, surprisingly, may be the losers: the lower-cost cities that got bypassed in Amazon’s national beauty contest.

“The cities that didn’t get [the headquarters] dodged a bullet,” says Conway, of CCIM and the Alabama Center for Real Estate.

The six-figure salaries Amazon promises won’t go too far in either New York or the DC metro area, and might not be enough to lure highly skilled workers. Those with families, in particular, may not look kindly on pricey single-family homes that require long commutes.

“You can’t attract the skilled workforce in New York or Northern Virginia without the affordable housing,” says Conway.

The median home price is $559,000 in Crystal City, part of Arlington (where prices are $599,000), and $437,050 in the DC metro area, according to realtor.com. They’re a whopping $997,000 in Long Island City and $529,545 in the New York City metro area.

Many financially savvy workers may still prefer cheaper cities that still offer good jobs. For example, Pittsburgh offers a median home price of $180,000 within the city limits. It’s $285,000 in Charlotte, NC; $289,900 in Raleigh, NC; $325,000 in Chicago; $389,000 in Dallas; and $419,900 in Austin, TX. With those housing prices, workers can live like tech titans off their healthy paychecks.

And here’s the thing: Even in New York City and DC, there aren’t enough skilled workers to fulfill Amazon’s needs. So this could lead to bidding wars for the most in-demand talent—and, of course, poaching from other companies. With unemployment already so low, this could make it harder for some tech companies to compete. So if Amazon moves in, they may ultimately decide to move out.

Amazon “picked two of the most expensive housing markets in the country,” says Conway. “That could be a big factor in [whether they] succeed.”

The post Amazon’s New Headquarters May Be a Prime Deal for Two Cities, but Where Will Workers Live? appeared first on Real Estate News & Insights | realtor.com®.

Amazon’s New Headquarters May Be a Prime Deal for Two Cities, but Where Will Workers Live?

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