Ford's Colony Fall Parade of Homes

Our Fall Parade of Homes is just weeks away - Saturday, October 13th and Sunday, October 14th. If you haven't registered to attend do so today by visiting www.fordscolony.com. You'll enjoy touring resale and new construction homes and our Eaglescliffe Condominiums.

Here are the weekend's exciting details:

1. Homes are open on Saturday, October 13th from 9 a.m. to 5 p.m.
2. Homes are open on Sunday, October 14th from 10 a.m. to 4 p.m.
3. On Saturday, a complimentary Fall Fling Lunch Buffet (11:30 a.m. to 1:30 p.m.) in our award winning Garden Pavilion.
4. On Saturday evening, a Wine and Cheese Reception (4:30 p.m. to 6 p.m.) at the Eaglescliffe Condominiums - tour available units along with some condos graciously opened up by owners.
5. A Two for One Dinner Entree in the Dining Room or Harry’s Tavern on Friday or Saturday Night.
6. Play unlimited rounds of golf for $39
7. Discounted rates at the Marriott Manor Club and Holiday Inn Express

For more information, Call us at 1-800-334-6033 or click here to e-mail us.

0 comments - Posted at 3:20 PM

Categories: Eaglescliffe Condominiums | Ford's Colony Events | Ford's Colony Realty | Parade of Homes | Real Estate News | Williamsburg Events | Williamsburg Real Estate

Once in a Lifetime Savings Opportunity!

The bank owned lots in Ford’s Colony are greatly reduced for immediate sale.

Something for everyone – stunning golf, water, and nature views. Seller financing available. Don't miss out! Call today.

For home site information and pricing, call Ford's Colony Realty at (757) 258-4000.

0 comments - Posted at 9:00 AM

Categories: Ford's Colony Realty | Real Estate News

Housing Crisis to End in 2012 as Banks Loosen Credit Standards

Capital Economics expects the housing crisis to end this year, according to a report released Tuesday, February 7th. One of the reasons: loosening credit.

The analytics firm notes the average credit score required to attain a mortgage loan is 700. While this is higher than scores required prior to the crisis, it is constant with requirements one year ago.

Additionally, a Fed Senior Loan Officer Survey found credit requirements in the fourth quarter were consistent with the past three quarters.

However, other market indicators point not just to a stabilization of mortgage lending standards, but also a loosening of credit availability.

Banks are now lending amounts up to 3.5 times borrower earnings. This is up from a low during the crisis of 3.2 times borrower earnings.

Banks are also loosening loan-to-value ratios (LTV), which Capital Economics denotes “the clearest sign yet of an improvement in mortgage credit conditions.”

In contrast to a low of 74 percent reached in mid-2010, banks are now lending at 82 percent LTV.

While credit conditions may have loosened slightly, some potential homebuyers are still struggling with credit requirements. In fact, Capital Economics points out that in November 8 percent of contract cancellations were the result of a potential buyer not qualifying for a loan.

Additionally, Capital Economics says “any improvement in credit conditions won’t be significant enough to generation actual house price gains,” and potential ramifications from the euro-zone pose a threat to future credit availability.

By: Krista Franks                         Source: DSNews.com

0 comments - Posted at 9:25 AM

Categories: Real Estate News

Will the Real Estate Market Heat Up This Spring?

The spring season usually brings an increase in buying and selling to the real estate market, and housing experts are mostly optimistic that this spring will be even better than recent years. 

Some signs are already there: Housing inventories are declining, housing affordability is at record highs, mortgage rates are at all-time lows, and the job market is improving. 

Existing-home sales have been edging up in recent months, and for-sale housing inventories were at nearly 2.4 million units in December, reaching its lowest point since 2005, according to National Association of REALTORS® data. 

NAR’s Chief Economist Lawrence Yun says home prices are beginning to stabilize in many markets. 

Also, NAR’s Housing Affordability Index is at its highest level since the 1970s, which indicates that for the average family housing is very affordable. 

The National Association of Home Builders is also predicting an improvement this spring among the new-home sector. NAHB is predicting that home sales will increase 18 percent this year, that’s after facing their lowest on record in 2011. 

However, threats to a housing recovery still loom this spring. Strict mortgage lending is keeping some buyers on the sidelines, and foreclosures continue to put downward pressure on overall home prices in many markets.

"The signals are a little hard to extrapolate, but ultimately by the end of this year we should see the housing market on more solid footing," says Celia Chen, senior housing economist with Moody’s Analytics. "So an improvement but off of very, very weak activity."

0 comments - Posted at 9:00 AM

Categories: Real Estate News

Looking forward to the spring

The consensus in the real estate news is optimist for this spring - cautiously optimistic.  The recovery seems to be taking hold across the country, but most acknowledge the fragile state of confidence.  Prices seem to have found a firm bottom.  Supply has been taken down somewhat by buyers taking advantage of foreclosures and short sales.  Mortage rates continue to be low.  However, while mortage rates are low, lending availablity is still very tight.  I recently read that mortgage money is tight because most private mortage funds have yet to re-enter the market leaving the Federal backed mortgages in holding in excess of 80% of the business.  This compares with 60% five years ago.

Homes are selling in Ford's Colony - that is those that are priced right for this market and are in excellent, move-in condition.  My advice to sellers is to check pricing vs urgency.  In all cases, don't expect the buyer to fix things up because they got a great purchase price deal.  Buyers want the deal and want the excellent, move-in condition house.  It is a buyer's market.

Seller financing is working for some of the more expensive lots.

0 comments - Posted at 5:17 PM

Categories: Ford's Colony Realty | Real Estate News

Mortgage Rates

Mortgage Rates Hit New Lows Again

0 comments - Posted at 4:21 PM

Categories: Real Estate News

Ford's Colony Realty

The feedback on our name change is very positive, in fact 100% in support.  Ford's Colony Realty is simple, focused and speaks directly to what we do.  We sell Ford's Colony real estate.  We have always been the Ford's Colony real estate company,  So I am excited about the new year and the emphasis on our mission.

1 comments - Posted at 3:30 PM

Categories: Ford's Colony Realty | Real Estate News | Williamsburg Real Estate