Liz Local 20th Anniversary Edition

20TH ANNIVERSARY SPECIAL EDITION From the Virginia Peninsula to Williamsburg to Richmond to the Northern Neck, we are celebrating making real estate dreams come true for 20 years.

Liz Moore and Associates Newport News Office The Liz Moore Story 21,622 Happy Clients & Counting! For many years, Liz envisioned the perfect real estate local families were surveyed about their real estate company - a brokerage where all the greatest agents want experiences over the past 5 years. One message was loud to work, and where the business is solidly and predictably and clear: too many had one unfortunate experience in built on word-of-mouth referrals from loyal past clients common – frustrating and costly last-minute surprises and personal acquaintances. In 2001, she decided to and expenses which made the overall real estate begin the journey to make that vision a reality. Realizing experience highly stressful. that it would be impossible to totally transform her The mission became clear: to develop a real estate existing traditional real estate office into her ideal model, company that truly reinvented the process, empowering Liz set to work writing a business plan that started consumers and agents alike with up front information totally from scratch. She traveled extensively for several and more control over outcomes. So, with the help of years, researching what was heralded as the best and the long-time friend and colleague, local attorney Brian D. brightest brokerages across the country. Lytle, Liz set to work to create a business plan for the perfect real estate company. She was disappointed. She was disappointed that from the West Coast to the Northeast, most real estate Liz & partner Brian Lytle at companies looked alike. Wherever she went, she found the first company retreat business as usual; very little vision, hardly any passion for extraordinary customer service or innovative ideas. Marketing was at best ho hum – in fact, there was so little distinction between companies that one could easily erase one firm’s logo in an ad and substitute another and no one would notice. Convinced that there was a better was a better way to practice real estate, and that timing was right for an enlightened boutique brokerage, Liz entrusted the guidance of Dyan Dobbyn, one of the nation’s leading management consultants. Under her direction, 10,000 2 20TH ANNIVERSARY / LIZ LOCAL

The firm partnered with an independent appraiser to contact management resources long before commercial provide a complete appraisal to sellers at time of listing, CRMs were readily available. Onerous tasks such as as well as a home inspector to conduct a thorough direct mail and creation of marketing materials would property inspection before the home is listed. These be taken over by the company, freeing up agents to services are provided free to the consumer. With peace focus on dealing directly with customers. A dream team of mind for clients as the goal, these upfront services of administrative support was assembled to synchronize would enable sellers to rest easy that once they negotiate a variety of tasks: from data entry, to creating listing price and terms with a potential buyer, they no longer marketing, to putting up signs; allowing agents to spend need to fear the unexpected: low appraisals or costly more time doing what they’re best at. unexpected repairs. Fewer Surprises, less stress. Finally, it was time to execute. Liz began a series Interestingly, by launching a plan to deliver to the of interviews to select the inaugural sales team. customer what they wanted, the ideal marketing Recognizing that change is difficult for even the most platform was born: Real Estate. Reinvented. Unique confident salespeople, Liz was uncompromising in her competitive advantage in the market would be vision. Agents were selected based on their willingness established by offering a level of customer service that to put self-interests secondary to those of the consumer, had never been seen before in real estate. Next it was to commit to lofty goals for learning and professional time to build the internal strategy – to design the development, and to set new standards in the industry perfect brokerage from the inside out, setting in motion for professionalism and customer service. the systems and resources that would allow agents to deliver above and beyond service. By the end of their second full year, in one of the most competitive markets ever experienced on the Peninsula, An architect was hired to design state of the art office Liz Moore & Associates was ranked as one of the top environments to dazzle customers and optimize offices in the market in overall sold volume. In 2006, efficiencies for agents. Custom software was developed Liz was recognized by the Virginia Peninsula Chamber to give agents more control of the process by creating of Commerce as the Entrepreneur of the Year. task management systems and an infrastructure of Peninsula Office Managing Broker Donna Moyer

Liz and Associate In 2016, Liz expanded again, this time opening a branch Broker Elaine in Richmond – at the time named the 4th hottest real estate market in the country. 2 years later, the Richmond Roberto at the office was recognized as the “Best Work Environment in Williamsburg Office RVA,” edging out VCU and Capital One for the honor. In 2020, the Richmond team expanded to its brand new, groundbreaking state of the art office on Midlothian Turnpike. Next steps included opening the first branch office in 2020 rang in much excitement along with a new decade: New Town in Williamsburg, which now enjoys the #1 The marketing team launched a new brand identity market share position, with a Liz Moore agent on one side and logo, along with a new home search app and a or the other of one out of 5 sales in the region. Liz Moore new version of lizmoore.com. We added a Director & Associates was recognized as Small Business of the Year of Operations to our Leadership Team and expanded by the Greater Williamsburg Chamber of Commerce. again with a new branch office in the Northern Neck, formerly Chesapeake Bay Properties. Recognizing that consumers were hungry for the Liz Moore commitment to client service in other pursuits, What does the future hold for the real estate industry? Liz launched property management in 2005. The Who knows?! One thing is clear; however, Liz Moore & division has grown to 6 property managers, an inspector Associates will be leading the market to the next level. and a maintenance coordinator, and recently moved to its own building in New Town, managing a portfolio of over 550 rental properties. Jo Lewis, Richmond Managing Broker and Jake Evans, Director of Operations Richmond Office 4 20TH ANNIVERSARY / LIZ LOCAL



Our Legendary Cupcake Wars for Charity The first Cupcake Wars began as a small fundraiser in hours to benefit the Children’s Hospital of the Kings our Newport News office. A few hundred cupcakes, Daughters, the Beacon Tree Foundation, and the enthusiastically baked and decorated by agents and Rappahannock Art League. staff as a bake sale of sorts, raised nearly $500 for the Children’s Hospital of the King’s Daughters, our Traditionally, the event is held from 11-2 on the Friday corporate charity. before Valentine's Day in each of our branch locations. There is generally a line outside the door at 11 to get The next year, agents upped their game, and the the first pick of cupcakes, and to enjoy the displays in competition heated up. Cupcake displays became more all their glory before cupcakes begin to disappear. For a elaborate, and the cupcake themes increasingly clever. donation to charity, hundreds of customers receive a box Word spread among our clients and customers, and we to choose their favorites to take home…and, of course a had quite a crowd, resulting in doubled donations. ballot to vote for their favorite cupcake! Liz decided to award first, second, and third place prizes “Cupcake Wars day is absolutely my favorite day of the for the most creative cupcakes, and the event became an year,” says Liz Moore. “It is such a fun event to watch all-out war among competitive agents and staff! the agents get so creative and competitive – who would have guessed that real estate agents could create such As the company grew and added branch offices, incredible cupcakes? Having the offices filled with the branches competed for who could sell the most our favorite clients, with everyone coming together to cupcakes and raise the most money for charity. This support our favorite local charities, is a special treat.” year, we were able to raise over $20,000 in just 3 6 20TH ANNIVERSARY / LIZ LOCAL

Buying Real Estate…Then and Now! So much has changed within the real estate industry make an offer on a property from across the country, since we opened our brokerage, especially with the without physically seeing it. process buyers use to search for homes. Today, buyers have far more control over the process! Contracts Home Search New technologies have replaced the old carbon-copy versions of sales contracts, as well as the disappearing When it comes to searching for a home, today’s buyers purple ink of fax machines. Digital signatures are have advantages with technology that wasn’t always common, and most real estate contracts are executed via available to them. In 2003, homes were advertised in email. Another change? Our sales contracts have gone local newspapers and homes magazines, which meant from 2 or 3 pages to over 15, with multiple addenda! that a new listing might take more than a month to be marketed to the public due to the publication dates of Age of First Time Buyers print materials. Of course that delay wasn’t a really big deal back then, because the MLS wasn’t computerized: The age of first-time home ownership has risen over new listings were published in thick blue books which the years. In the 1970’s and 80’s, it was typical for first were delivered to REALTORS every 2 weeks. Today, time buyers to be in their mid to late twenties. Today, consumers can access new listings immediately as MLS it is more common to see first time buyers entering entry is dynamically fed to broker websites, consumer the market in their early 30’s. This is undoubtedly due portals such as REALTOR.com and Zillow, and to a combination of factors including the rise in both search apps like Homesnap. Liz Moore & Associates the cost of living and home ownership, as well as an also dynamically promotes listings 24/7 in a variety of increase in student loan debt. digital magazines. Average Sales Prices Showings The average sales price of a home 50 years ago was just The internet has also impacted home showings $23,400, while in 2022 it has climbed to $389,500. dramatically. In 2003, you had to book an appointment While that may seem shocking, the upside is that there with an agent to see the interior of a home or visit at an are millions of homeowners who have built generational open house. Today, many agents utilize 3D home tours wealth simply by purchasing homes that appreciated online, enabling prospective homebuyers the ability to over the years. virtually walk through the home from the comfort of their living rooms. This resulted in buyers being able to With the advent of Artificial Intelligence and other emerging technologies, it will be fascinating to see what the real estate experience of the future looks like! 20TH ANNIVERSARY / LIZ LOCAL 7

What a Difference 20 Years Makes It’s not just the cost of housing that has increased over time… here are a few more items that have seen an increase in cost over the years: 133% Increase 122% Increase 133% Increase 2003: $161,500 2003: $21,646 2003: $2.10 2023: $375,700 2023: $48,008 2023: $4.90 House New Car Cup of Coffee 96% Decrease 240% Increase 2003: $7000 2003: $1.24 2023: $300 2023: $4.21 11% Increase A Dozen Eggs 2003: $900 TV 2023: $999 27% Decrease Cell Phones 2003: $2,733 2023: $1,999 104% Increase 2003: $18,348 2023: $37,508 Personal Computers 62% Increase College Tuition 336% Increase 2003: 37¢ 2003: 96¢ 2023: 60¢ 2023: $4.19 Postage Stamp Gas Per Gallon 2003 Dollars vs 2023 Dollars: According to the Chained CPI measurement, $100 in 2003 is worth $164 today, a 64% increase. Sources: Education Data Initiative, NAR, energy.gov, kbb.gov, Federal Reserve Bank of St. Louis, gadgetreview.com, zdnet.com, twice.com, yahoo.com, usatoday.com 8 20TH ANNIVERSARY / LIZ LOCAL

Home Décor Trends: Early 2000s to 2020s Then: Open Floor Plans Then: Metal Finishes Now: Private Spaces Now: Natural Textures Open floor plans were all the rage in the early 2000s, Bronze finishes, limestone, and brown were the trifecta and most floor plans today have this feature as a result of the trendy 2000s home décor. Bronze faucets were of that demand. very common, and they are starting to make a comeback today! However, the Queen Bee of texture in the 2020s When the pandemic expanded the popularity of remote has so far been the natural look. Light wood, wicker, work to many Americans, we saw a significant shift in and rattan is here to stay for at least a little while longer. buyer preferences. Private spaces became important to accommodate multiple people on Zoom and working Then: Cozy, Dark Living Rooms from home. This change in lifestyle inspired creative ways Now: Abundant Natural Light to divide space; we’ve seen an increase in barn doors, bookshelves, and good old fashioned room dividers to do Warm and cozy was a common theme within early the trick. Outdoor living spaces are also in high demand. 2000s homes, and that extended into the living area. It was common to see living rooms designed with Then: Dark Brown Wood dark wooded entertainment areas. The couches were Now: Lighter Woods shades of brown or black and included recliners, and sometimes included cupholders. We really knew how to Red dining room walls were in style in the early 2000s, live comfortably after a full day at work! often paired with Tuscan kitchens and autumnal décor. Today, a common style is grey or light-colored couches Trends change, and now-a-days, light and airy is in! in a bright, airy living area. Along with the lighter The Scandinavian blonde and rustic light oak wood wood, the room will have access to abundant light. is more sought after, and you will notice this style in This could also be a trend influenced by the pandemic newly renovated homes as opposed to homes that were as people spent more time at home, it was necessary to designed in the early 2000s. White kitchens are back! keep the space as bright and happy as possible. What are some trends that you wish to see make a come back in the next year? Let us know! lizmoore.com 20TH ANNIVERSARY / LIZ LOCAL 9

Technology advances “The Jetsons” Predicted for 2062 That Came True: 1. Video calls 2. Robotic vacuums 3. Tablet computers 4. Robotic house help 5. Smart watches 6. Drones 7. Holograms 8. 3d printing 9. Flat screen TVs 10. Jet packs Do You Remember? It’s hard to believe that the early 2000s can bring Blockbuster feelings of nostalgia. A lot has changed in 20 years! There are some things we miss, and some we are happy Another noteworthy impact of streaming services is the to leave in the past. While we may not yet be talking demise of our beloved Blockbuster. There’s no need to into our shoes like they did on Get Smart, we are go rent movies anymore, but the trip itself was a treat for certainly talking into our watches! the family. So many to choose from, and only so much time to borrow the film – oh, how times have changed! Commercial Breaks Landlines and Call Minutes Before we could record our shows on cable, and even better, stream them through streaming apps like Netflix– Before unlimited calls and texts were included in most we had good old-fashioned cable! We used to have to phone plans, we had minutes. We had to choose our run back to the couch after a restroom break once the minutes wisely – or you needed to use the landline to commercials were finished. Those were the days! make a call! A few of us still have rotary phones on the wall (as an antique, of course!). Alarm Clocks Record Players With smart phones and their built-in alarm clocks, we don’t necessarily need to purchase alarm clocks for our Through the decades, music technology has evolved bedside tables. These were essential in the early 2000s, from records, to 8-tracks, to cassette tapes (remember when we didn’t have so many tools at our disposal with the featured artist of the month clubs that delivered one gadget. Although, some research suggests reverting new cassette tapes by mail?), to CDs, and then MP3 back to old fashioned alarm clocks due to the negative players. Finally, we no longer need a second device to impact of screen time first thing in the morning. listen to our favorite songs now that smartphones stream our music. For those of us who are nostalgic, the record players and LP’s are making a comeback - of course now that we’ve thrown out all our record collections! 10 20TH ANNIVERSARY / LIZ LOCAL

Lava Lamps Technology Advances Back to the Future Predicted These trendy decorations were a must-have in most teen and young adult bedrooms. Waiting for it to heat up and for 2015 That Came True: watching the magic happen – we wouldn’t be surprised if this made a comeback for younger generations as many 1. Mobile Payment Technology trendy items from past decades tend to resurface. 2. Biometrics: thumbprint access 3. Tablet computers When MTV was Music Television 4. Drones 5. Video Calls Do you remember when you could turn on MTV and 6. Video conferencing it would actually be playing music videos from popular 7. Flatscreens artists? Now, MTV mostly televises reality tv shows with 8. AR, VR, and 3D Technology minimal music videos. Luckily, we still have YouTube to 9. Wearable technology watch our favorite artists! Being Bored The luxuries of modern life give us constant media, which has allowed us to never get bored. Before phones and tablets, the most we could do was bring a magazine or book to the waiting room. Now, those are accessible on our phones, along with so much more. Who knew being bored would become a thing of the past?

lizmoore.com Oyster Point Newport News | 11801 Canon Boulevard, Suite 100, Newport News, VA 23606 New Town Williamsburg | 5350 Discovery Park Boulevard, Williamsburg, VA 23188 Richmond | 14061 Midlothian Turnpike, Richmond, VA 23113 Northern Neck | 276 N Main Street, PO Box 548, Kilmarnock, VA 22482 Kingsmill Williamsburg | 350 McLaws Circle, Suite 2, Williamsburg, VA 23185 © COPYRIGHT LIZ MOORE AND ASSOCIATES. IF YOUR HOME IS CURRENTLY LISTED WITH ANOTHER REALTOR® PLEASE DISREGARD THIS POSTAL, AS IT IS NOT INTENDED TO SOLICIT ANOTHER AGENT’S LISTING. ADVERTISEMENT Agent Photo & Details Here Reserved for Automated Postal Printing REASONS TO INVEST Diversify Your in Rental Property Portfolio Investment properties come with many benefits. Increased Wealth Eligible Tax Professional Management Deductions Earn Services Rental Rental Income Income Pays The Mortgage Contact our property management division for professional management services for your investment rental. Virginia Payne, Director of Property Management 757-707-5388