Liz Local Peninsula Magazine - Winter Edition

THE PENINSULA WINTER 2020 WE’RE SO EXCITED ABOUT Our New Look! REAL ESTATE FACTS ON Airbnb OUR FAVORITE PLACES: Food Craft PENINSULA Market Update INCORPORATING A Pop Of Color

WE’RE SO EXCITED ABOUT Our New Look! Have you checked out our new website future. Changing demographics and yet at lizmoore.com? Or downloaded shifting media channels are offering our new search app from the App Store up many new strategic opportunities or Google Play? Have you seen our to deliver an even greater real estate new for sale signs featuring reflective experience than ever before. technology? How about our new office building that’s underway on Midlothian We’ve always approached things Turnpike in Richmond? differently than the rest of the industry and have never been afraid to depart Lots of excitement at Liz Moore & from the way real estate has traditionally Associates to ring in 2020! It’s hard been practiced. A great example of to believe we will celebrate our 17th that is our legendary “No Surprises” birthday as a company later this year… platform – pre-listing home inspections it seems like just yesterday we opened and appraisals for our clients. It was our doors for the very first time in virtually unheard of when we entered December of 2003. the market in 2003, and now is heralded as one of the industry’s best practices, as Since then, we’ve grown from a crew well as a huge competitive advantage for of 32 in one office in Newport News, our clients. to over 120 staff and agents in 4 offices from the Peninsula to RVA, including We’ve been first to market with a a portfolio of 400 rental properties. number of innovations over the years – from drone photography to digital The real estate industry has changed homes magazines and story audio a great deal since we launched our clips to in-house graphic design and company, although our laser focus on videography. We love to “wow” our delivering an extraordinary real estate clients and our agents, and we work experience has not. I think it is the relentlessly to make sure we perfect time for us to refresh our brand do it better than anyone else. identity, as our marketing footprint continues to evolve from print to Stay tuned for another exciting digital. We took advantage of a new marketing campaign... website and app design to introduce Coming Soon! an updated Liz Moore brand identity, replacing our iconic merlot oval with a We’re excited about our bold navy blue square. new design direction, and many more The new campaign is the culmination successful years of of a 12-month marketing project. Our reinventing real estate! leadership team conducted an in- depth study of client insights to better Liz Moore, President understand not only what has been successful in the past, but what will be most important to our clients in the 2 WINTER 2020 / LIZ LOCAL

WANT TO KEEP UP WITH REAL ESTATE IN Your Neighborhood? Sign up to receive FREE neighborhood There’s no cost and absolutely no insider emails including price, photos, obligation...simply call or send me your and home feature details. It’s a great way email address and neighborhoods you’d to stay on top of value trends and keep like to keep an eye on. I look forward to an eye on the market! adding you to our “first-to-know” list! Check out one of our favorite spots! Contents Present this coupon to receive Hello from your Liz Moore REALTOR® $5 OFF Real estate facts on Airbnb your dinner. Our favorite places: Food Craft Dine-in only. Expires March 31. Peninsula area homes for sale 118 Old Hampton Lane Peninsula area Hampton, VA 23669 market update Incorporating a 757-723-7978 pop of color GreyGooseRestaurant.com WINTER 2020 / LIZ LOCAL 3 Mon 11 – 3 | Tue – Thu 11 – 8 Sat 10 – 9 | Sun 10 – 2

REAL ESTATE Simple, right? deferring on the matter so they could FACTS ON Well, sort of. do more research on the matter. Airbnb Airbnb hosts like it because they Per an article in the local newspaper stand to make a decent income, and The Daily Press, Flora Chioros, While mega short-term rental guests like the value they get for the assistant director of city planning, said company Airbnb is quickly becoming accommodations and locations of the Newport News staff had spoken with a tourism staple in many cities, some properties, which typically rival that of the hospitality association and basically municipalities have been slow to accept area hotels. But, even after 11 years of would start over with developing the new industry. being in existence, localities still have regulations. She said the regulations a lot of questions. For instance, how would have to strike a balance to avoid If you’re not familiar with the company, will it be regulated? How does the city being too stringent while also limiting Airbnb was created in 2008 by Brian or county collect tax? Will it affect the impacts. Chesky and Joe Gebbia, former existing tourism industry? How will roommates who found themselves this impact neighborhoods? “There’s not a perfect solution,” constantly struggling to make rent. For these reasons, some localities are Chioros was quoted as saying. In order to bring in some extra cash, taking years to put formal regulations they threw a few air mattresses on their in place. All the while, homeowners living room floor, bought some eggs and are covertly renting out their properties bacon and marketed the space as an ‘air until they get a slap on the wrist, a fine, bed and breakfast.’ The concept was to or regulations to follow. offer visitors a cheap place to sleep for a Newport News City Council members, night or two. Fast forward 11 years and for instance, attempted to vote on Airbnb is now a billion-dollar company short-term rental regulations in with 31 offices across the world. the summer of 2019, but ended up So, how does it work? A quick search on the Airbnb website Airbnb is an online marketplace, which lets people rent out their properties or yields more than spare rooms to guests. The company 300 available listings makes money by charging guests and hosts for short-term rental stays in on the Peninsula. private homes or apartments booked through the Airbnb website. 4 WINTER 2020 / LIZ LOCAL

In the same article, Councilwoman Pat a huge tourist town -- was the first to However, since short-term rentals Woodbury said the council couldn’t adopt a short-term rental policy, albeit are nowhere near as prevalent on the vote not to allow short-term rentals with a number of provisions. Peninsula as they are in major tourist because people would still choose to cities such as New York, San Francisco host them, making regulation essential. Here are a few: and Los Angeles, it’s hard to say what if any impacts there are locally. But, as A quick search on the Airbnb website • Short-term rentals require a “special short-term rental platforms like Airbnb yields more than 300 available listings exception” approval from the Board continue to grow and expand into on the Peninsula – which includes of Zoning appeals tourism markets, elected officials will Newport News, Hampton, Yorktown, have to continue monitoring the local Poquoson, Williamsburg and • O nly one room in the house may be impacts and be prepared to revisit its Gloucester, most of them operating rented policy as needed. without formal guidance from their city or county government. • Rentals are limited to owner- Fun Facts occupied single-family detached Out of these localities, Williamsburg – homes and the owner must be Airbnb has more than physically present at the property five million listings during any rental period – this worldwide essentially rules out any real estate investors looking to buy properties 53% of travelers based on short-term rental income use Airbnb because • H osts cannot provide meals of price • Event rentals are not permitted, etc. Hosts could pay between 70 and 100% Over in York County, the Board of Supervisors are dealing with short- of rent by listing a term rentals on a case-by-case basis. 2-bedroom home Homeowners who want to rent out their home or a room in their home 88% of reservations for fewer than 90 days at a time, will are for 2-4 people need to apply for a Special Use Permit, which costs around $450 and may take There are 660,000 two to three months for approval. The listings in the U.S. homeowner is also required to obtain a business license and charge the About 2 million people appropriate taxes. stay in Airbnb rentals across the world on an Though it’s taking time to develop regulations, Peninsula localities average night recognize that there is a need. Those who oppose short-term rentals are concerned about the impact short- term rentals like Airbnb might have on the housing market. Critics argue that home-sharing platforms like Airbnb raise the cost of living for local renters, while proponents suggest that allowing short-term rentals can only increase property value. WINTER 2020 / LIZ LOCAL 5

OUR FAVORITE PLACES: “Working in the restaurant business is all I’ve really known,” Sun said. Food Craft When she opened Food Craft, she For the past ten years, Sun Brown has People also love the food. I think it’s a intentionally wanted to serve only been serving customers with a hearty combination of those three things that breakfast and lunch in order to free breakfast and lunch as owner of Food sets us apart.” up her evenings to be with her three Craft off Victory Boulevard in York children. County. People from all over the All About Family Peninsula and the Southside flock to “That was important to me, to be able the establishment for a great meal. So, Sun was a flight attendant before to spend time with them at night,” Sun what is Sun’s secret? moving to the Hampton Roads area said. “When your kids are little, you back in the 1980s to be closer to her want to be home with them.” “People like the atmosphere,” Sun said. sister, KC. After relocating, Sun started “We are very family-oriented. When working at a Japanese Restaurant in These days, Sun’s children are grown. people come here, they are treated Newport News and later owned another Her two sons, Kyle and Coti, help like they are a part of our family. restaurant in Hampton for seven years out at the restaurant, working in the before opening Food Craft in 2009. kitchen. Her sister is also a regular customer, so Food Craft is truly a family affair. 6 WINTER 2020 / LIZ LOCAL

“It feels good to have my kids here in just for the chicken potpie,” Sun affection for the restaurant. There are with me,” Sun said. “My kids are said. “It’s pretty big and when people no plans to expand, however. always right there behind me.” first see it, they go ‘wow!’” “I’m just going to keep running it the All About Food Other lunch options include craft way I always have been and see what burgers (there are ten types; Sun’s happens,” Sun said. “My customers are Popular breakfast items at Food Craft favorite is the swiss mushroom burger), all so sweet. I have regulars who have include the chicken and waffles, French sandwiches, and salads. Patrons also been coming in for many years and toast, and pancakes. There are seven enjoy the hamburger steak, which is have become good friends. I am very different kinds of pancakes available topped with gravy and sautéed onions lucky.” on the menu. The griddle platters come and comes with two sides. Among the with two pancakes, two eggs to your most popular appetizers are the fried —Brandy Centolanza liking, and two pieces of bacon or green tomatoes and Scotch eggs: two sausage. hard-boiled eggs wrapped in sausage, Want to Go? breaded in panko crumbs and fried “I like the blueberry pancakes, but until golden brown. Food Craft is open the Cinnabun pancakes are the most Tuesday-Sunday popular,” Sun said. “People like our “People just love the Scotch eggs,” Sun omelettes too.” said. 7am-2pm Food Craft also has a bar if you want a Sun is on her feet much of the day as a foodcraft mimosa or Blood Mary with your first hostess for the restaurant. meal of the day. Prefer to stop in for 5005 Victory Boulevard lunch? Food Craft has lunch specials “I always greet the customers, make Yorktown during the week including chicken sure the food comes out right, and potpie on Tuesdays; fried chicken on thank them as they leave,” she said. “I 757-234-6940 Wednesdays; meatloaf on Thursdays; think that is important.” and fried flounder on Fridays. People are always asking when Sun “We have regular customers who come will open a second location of Food Craft, a testament to customers’ WINTER 2020 / LIZ LOCAL 7

Love Where You Live! 27 Spring East | Seasons Trace | $165,000 74 Messick Road | Poquoson | $169,000 920 15th Street | Stuart Gardens | $179,900 6322 New Pines Drive | New Pines | $184,000 915 Yorktown Road | Poquoson | $188,750 20 Fawn Lane | Camelot Village | $195,000 142 Canterbury Run | Willowood | $200,000 731 Roslyn Road | Roslyn Place | $215,000 11 Woolridge Place | Nelson Place | $229,900 141 Canterbury Run | Willowood | $235,000 703 Charthouse Cir | Southall Landing | $239,000 5375 Sir Barton Dr | Carolanne Farms | $250,000 172 Hall Road | Fox Hill | $325,000 365 Emily Dickinson S | Port Warwick | $399,000 113 Old Seaford Road | Seaford | $399,900 8 WINTER 2020 / LIZ LOCAL

29 Woodland Rd | Woodland Acres | $450,000 9408 Ottoway Crt | Stonehouse Glen | $499,900 198A Odd Road | Poquoson | $535,000 109 Willet Way | Woodlands | $537,000 201 Chinquapin Orch | Olde Port Cove | $560,000 236 Beach Road | Poquoson | $564,900 9745 Oakview Dr | North | $639,000 7066 Mumford Cove Rd | Hayes | $720,000 1120 Wormley Creek | Marlbank Farm | $1,250,000 Enjoy the lifestyle you’ve earned! Home is important – we get that. Finding the perfect home to fit your lifestyle is our mission. Whether it’s a dream home on the river, a short walk to the golf course, or a cottage in the woods, no one understands this market like we do. Let us help you love where you live! See all of our listings online at: lizmoore.com WINTER 2020 / LIZ LOCAL 9

Peninsula Market Insights - 0.004% $192,675 New Listings overall were down slightly, with The Median Sales Price the biggest decrease in our attached market rose 6% from $180,225 (townhouses and condos). From a practical last year. standpoint, new listings coming on the market remain relatively flat. In my opinion, this is +11% the biggest factor keeping a lid on the market — not enough well priced listings in market Closed sales were up over 2018, ready condition to meet the buyer demand. creating another strong and Our strategic answer to this unmet need is the healthy Peninsula market. launch of our Update Now/Pay Later program, Pending sales were down in which we anticipate creating additional November but then bounced back market ready inventory for our clients. in December, with a year end increase of 12%. Activity going 98.35% into January is strong and I’m anticipating a busy Spring. Sellers enjoyed offers close Overall, the market in 2019 was very to 99% of their asking stable, and largely unchanged over price this past year, which the year before. Because 2020 is an has remained steady. election year, I anticipate that we will continue to see a stable or slightly $1,367 increasing market through November. Most predictions are that interest rates The average rent on the will continue to hold steady through Peninsula was almost the the election, making this a 10-year same as 2018 ­— streak of historically low rates. the rental market has proven to be very stable. Donna Moyer, Managing Broker Data from REIN MLS areas 101-113, Jan-Dec 2019. 10 WINTER 2020 / LIZ LOCAL

What’s Trending? What you’ll need for your DIY makeover paintover: an old rag, INCORPORATING A painter’s tape, primer or white paint if you’re covering a dark color, your paint Pop Of Color color of choice, and an appropriate size paint brush for the project. For Want to try some bold, trendy colors is you don’t have to commit an entire added appeal, find updated or funky in your home but don’t know where to room or wall to that trendy color to accessories for your piece like a new start? We’ve got you covered. achieve the effect, a pop is just that, a lamp shade or drawer pulls. small area or item in that special shade It’s really quite simple once you have all A cayenne red can make a bold, spicy providing a flash of color. of your supplies. First, wipe away any statement. A deep purple or blue can dust so you have a smooth, clean surface. add depth and richness. A sunny yellow Try an accent wall, half wall above Next, remove drawer knobs or tape over or warm orange can brighten any space. or below your chair rail, or a piece any hardware or areas you don’t want A soft green or light blue can bring the of furniture. Even painting a frame, painted. Apply a primer coat if needed peace of nature inside. Color showcases chandelier, lamp, or pair of candle to cover particularly dark colors and our emotions and our creativity, and sticks in a bold shade can add a pop of stains. Next, apply one to two coats of always makes a statement. color and lend visual interest to a room your chosen paint color and let dry. or area in your home. Remove any tape and reaffix the These bold, trendy colors are fun, necessary items like lamp shades, light popular and can update any home, Great areas to play with color are bulbs, or drawer knobs, and wait for but trends can also be passing. A great laundry rooms, bathrooms and entry the compliments to start rolling in. way to stay current and protect your ways. You don’t spend hours in these The possibilities don’t end with paint investment from becoming outdated places, rather you pass through and fun when it comes to playing with color. is to incorporate these colors in your colors here can leave a lasting impression. So, go ahead and make a splash with home in small bursts, also known as bold, trendy colors in your home! We pops of color. You’re not a painter? No problem. You want to see your projects and how can always hire a professional for a big you incorporate pops of color in your Pops of color can highlight job, but this is a fun way to put those home. Would love to see what you’ve architectural details and add hours you’ve logged watching HGTV done. Share pictures with us at @ with personality to any space. The best part to good use. the hashtag #lizmoorePOC. Throw pillows, blankets, vases, and framed prints are easy, low commitment ways to play with color in your home. WINTER 2020 / LIZ LOCAL 11

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