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Your guide to new housing in South Hampton Roads Winter 2009
At home with Area Builders of Tidewater Inc.
Kudos to the Homearama winners An A to Z list of the area's new homes
Financing fundamentals Builder: John W. “Chip� Iuliano III
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Building Dreams. One home at a time.
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From the $300’s Rose & Womble Realty 757.523.0027(site) Bob Kuhlke 757.729.4182
Vanessa Chase 757.472.2740
How do I get there? I-64 west, exit Indian River Road east. Follow past Centerville Turnpike, turn left on General St. Follow to end, turn right and Lake Archway will be on the left. Model Address: 5513 Chandler Scott Ct, Virginia Beach, VA ainsliegroup.com 757.499.7000
MILLER CUSTOM HOMES “ThinkGreen” Green” Build Responsibly “Think Let us build your next house and make it certified green. We can build your plans or ours and on your own lot or one of ours. Call us today to schedule an appointment. “Every builder will tell you how they build the best homes, they give the best customer service… Not only do we give the best customer service but, our homes are healthier and more energy efficient ‘green homes’ we only build 5 - 7 homes per year. “This is what separates us from the other builders.” “Green Building is going to bring affordable housing back to Hampton Roads.”
--Chuck Miller 2008 Homearama “THE MOTHERSHIP” People’s Choice Awards *Gold *Gold *Gold *Gold *Gold
Available Lots:
VIRGINIA BEACH Heron’s Ridge
Best Craftsmanship Most Efficient Floor Plan Best Use of Concrete Best Green Feature Most Environmentally Friendly
*Bronze Best Pool and Foyer
Corner lot $350,000
Ashville Park 3 Sections $180 - $310,000
Oak Breeze $225,000
Little Neck Deepwater Access
Diamond Springs, Virginia Beach New Construction “EARTHCRAFT” home by MILLER Custom Homes 2,800 sq. ft. with 4 bedrooms, geothermal HVAC, tankless hot water, spray foam insulation. $10,000 CCA pd by seller.
Pungo Ferry Landing 1.75 Acres+ $250,000
Stone Road 21 Acres $400,000
CHESAPEAKE Hickory VABArea 3 Acres $215,000+
Edinburgh $290,000+
Winter 2009
Mid $400s
861 Shurney Lane
To learn more about green building, sign up for “Anatomy of a Green House”, House,” taught by Chuck Miller Miller,call call757-477-0531 757-477-0531 For Information Paula Irby 757-477-0531 Donn Irby 757-434-3073 Chuck Miller 757-426-9061 www.home-specialists.com www.millercustomhomesonline.com www.home-specialists.com www.irbyteam.com
New Home 1
2 New Home
Winter 2009
New home
Features
Winter 2009
8
Accolades abound at Homearama 2008
Your guide to new housing in South Hampton Roads
22
14 Mid-Atlantic Home & Flower Show is flush with ideas 18 A war hero is welcomed to a new home
14
22 Edinburgh Meadows: Where residential and commercial coexist
18
6
From the TBA President to You
11
From A to Z: A list of all new home communities
16
Home Buyer’s Dictionary
21
Financing Fundamentals
Tidewater Builders Association leadership Pete A. Kotarides, president William H. Halprin, vice president
On the cover
Departments
25 Homearama Wedding House couple buys a new home
About the cover: Area Builders of Tidewater Inc. has been building custom homes throughout the Hampton Roads area for more than 20 years. Pictured here is Fragola Fete, Area Builders’ entry in the 2008 Homearama event at Ashville Park in Virginia Beach. The home garnered numerous Critics’ Choice Awards, including Best Home in Show honors. To learn more about Area Builders of Tidewater Inc., turn to page 24. Affiliated with the National Association of Home Builders
Editorial inquiries can be directed to: Valerie Myers TBA, 2117 Smith Ave., Chesapeake, VA 23320 (757) 420-2434, or e-mail: vmyers@tbaonline.org
James E. Jackson, associate vice president Charles J. Miller, treasurer S. L. “Sam” Cohen, secretary Channing A. Pfeiffer, chief executive officer New Home Magazine staff Sandra Amidon and Joyce Hearn, APR, publishers Valerie Myers, editor Kim Powers, JoAnn Baugh, Jeanne Rogers, advertising sales executives Stella Council, advertising sales assistant Rhonda Strong, graphic designer Winter 2009
Advertising inquiries can be directed to: Kim Powers TBA, 2117 Smith Ave., Chesapeake, VA 23320 (757) 420-2434, or e-mail to: kpowers@tbaonline.org New Home is published by Tidewater Builders Association, 2117 Smith Ave., Chesapeake, VA 23320, (757)-420-2434. E-mail address: info@tbaonline.org Articles appearing in New Home may not be reproduced in whole or in part without the written permission of the editor. All real estate advertising in this publication is subject to the Federal Fair Housing Act of 1968, which makes it illegal to advertise “any preference, limitations, or discrimination based on race, color, religion, sex, handicap, familial status or national origin, or intention to make such preferences, limitation or discrimination.” We will not knowingly accept advertising for real estate which is in violation of the law. All persons are hereby informed that all dwellings advertised are available on an equal opportunity basis. To complain of discrimination, call HUD toll-free at 1-800-669-9777. The toll-free number for the hearing impaired is 1-800-927-9275.
New Home 3
4 New Home
Winter 2009
Select ENERGY STAR Builder Partners in Tidewater
Sponsored By
JOIN EPA AND THESE TIDEWATER BUILDERS IN THE FIGHT AGAINST GLOBAL WARMING. For home buyers looking to go green and help protect the environment, energy efficiency is the best place to start. And the easiest way to make sure your next new home is energy efficient is to look for the blue ENERGY STAR. Learn more at energystar.gov. Winter 2009
New Home  5
From the TBA President to you
Opportunity knocks for home buyers By Pete A. Kotarides President of Tidewater Builders Association For those whose homeownership aspirations have been dampened or temporarily derailed by the housing and economic downturn – the people wondering if this is a good time to buy – the answer is simple: Yes. It’s a good time to buy. The housing market here in South Hampton Roads, coupled with a temporary tax credit for first-time home buyers and continued low mortgage interest rates, provides an unprecedented window of opportunity for prospective home buyers. In fact, there may never be another buyer’s market as good as today’s. The first-time buyer’s ‘opportunity of a lifetime’ Last year, Congress enacted a $7,500 federal tax credit for first-time home buyers. Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit. Partial credits of less than $7,500 are available for individual taxpayers with incomes up to $95,000 and married taxpayers with incomes up to $170,000. Time is of the essence, however. Only homes purchased on or after April 9, 2008, and before July 1, 2009, are eligible for the tax credit, which works like an interest-free loan and must be repaid over a 15-year period. Ample inventory An outstanding selection of homes to choose from is another reason it’s a good time to buy. Many builders have inventory that is “move-in ready,” and they may offer upgrades or other incentives to seal the deal. Likewise, owners of existing homes who are looking to trade up or relocate are ready to bargain. Attractive pricing and low rates If there’s a silver lining to the housing downturn, it’s that homes are more affordable. Prices here in South Hampton Roads have moderated to more normal levels than what was seen at the peak of the “boom” period. Interest rates are also at favorable levels, and although lenders 6 New Home
are looking more closely at a buyer’s financial history these days, qualified buyers should have no trouble getting financing. What’s in it for me? As a homeowner, you receive benefits that are both tangible and intangible: • Unique tax benefits that apply only to housing help lower the cost of homeownership. Both mortgage interest and property taxes are deductible. • When you own a home, you generally build equity during the life of that ownership. When you rent, however, you make a monthly payment that brings in no long-term benefit when your lease has ended. For most Americans, home equity represents the largest share of their net worth. Finally, a home cannot be valued in monetary terms alone because it is so much more than just an investment. Not only is homeownership a steppingstone to greater financial security, it provides a permanent place to call home and great personal satisfaction. Homeownership strengthens both the nation’s people and its communities. It is truly a cornerstone of the American way of life. (Portions of this article were excerpted from a National Association of Home Builders’ brochure titled “Opportunity Knocks for Home Buyers.” While NAHB has used its best efforts to provide accurate infor information . . . the information provided may not be suitable or applicable to your unique circumstances. You should consult with a qualified professional when applying this information to your own situation.)
Winter 2009
Winter 2009
New Home  7
Accolades abound at Homearama 2008 Custom home builders, interior designers and landscaping companies were recognized for their contributions to Homearama 2008, which was held at Ashville Park in Virginia Beach this past October. Industry professionals came from across Virginia to determine the winners of the Critics’ Choice Awards, and votes cast by some of the more than 80,000 visitors to Homearama determined the winners of the People’s Choice Awards. Critics’ Choice award winners Gold Silver Bronze
Best Home In Show Area Builders of Tidewater Inc. for Fragola Fete Strawberry Festival Joey Corp. for The Big League Cohen Homes L.L.C. for The Van Gogh
TBA Past Presidents’ Favorite Home J.F. Schoch Building Corp. for The Monarch Bank Wedding House Hampton Roads Realtors Association Award for Most Livable Home Joey Corp. for The Big League The Virginian-Pilot Excellence in Building Award Miller Custom Homes for The Mothership Gold Silver Cohen Homes L.L.C. for the Van Gogh Bronze Area Builders of Tidewater Inc. for The Fragola Fete Strawberry Festival Associates Choice for Best Special Product Feature J.F. Schoch Building Corp. for the Monarch Bank Wedding House and the Pool House Gold
Silver
Bronze
Gold Silver Bronze 8
Best Interior Design Area Builders of Tidewater Inc. for The Fragola Fete Strawberry Festival; design by Beth Gilbert of Gilbert Interiors; Furnishings by Value City Furniture, Pembroke Stein Mart and Kirklands Joey Corp. for The Big League; design by Michael Crow of Generations Brands; Furnishings by Value City Furniture J.F. Schoch Building Corp. for Monarch Bank Wedding House; design by Margaret Schoch of Unique Elegance; Furnishings by Unique Elegance Best Home Furnishing Joey Corp. for The Big League; furnishings by Value City Furniture Cohen Homes L.L.C. for the Van Gogh; furnishings by Willis Furniture TCI Inc. for The Skyler Lynn; furnishings by Great
New Home
Bridge Furniture, Haverty’s Furniture and Innovative Spas Gold Silver Bronze
Gold Silver Bronze Gold Silver Bronze Gold Silver Bronze Gold Silver Bronze Gold Silver Bronze
Gold
Best Craftsmanship Miller Custom Homes for The Mothership J.F. Schoch Building Corp. for The Monarch Bank Wedding House Area Builders of Tidewater Inc. for Fragola Fete Strawberry Festival Most Livable Floor Plan Miller Custom Homes for The Mothership Cohen Homes L.L.C. for the Van Gogh Joey Corp. for The Big League Most Creative Area Builders of Tidewater Inc. for Fragola Fete Strawberry Festival J.F. Schoch Building Corp. for The Monarch Bank Wedding House Cohen Homes L.L.C. for The Van Gogh Best Kitchen Joey Corp. for The Big League J.F. Schoch Building Corp. for The Monarch Bank Wedding House TCI Inc. for The Skyler Lynn Best Family Room Joey Corp. for The Big League Area Builders of Tidewater Inc. for Fragola Fete Strawberry Festival House Cohen Homes L.L.C. for The Van Gogh Best Media Room Cohen Homes L.L.C. for The Van Gogh Area Builders of Tidewater Inc. for Fragola Fete Strawberry Festival The Walters Company Inc. for The Conner Glenn, The TBA Charity House Best Master Suite Joey Corp. for The Big League Winter 2009
Silver Bronze
Cohen Homes L.L.C. for The Van Gogh J.F. Schoch Building Corp. for The Monarch Bank Wedding House
Gold Silver Bronze
Best Bath J.F. Schoch Building Corp. for The Monarch Bank Wedding House Joey Corp. for The Big League TCI Inc. for The Skyler Lynn
Gold Silver Bronze
Best Foyer TCI Inc. for The Skyler Lynn Cohen Homes L.L.C. for The Van Gogh Miller Custom Homes for The Mothership
Gold Silver Bronze
Best Home Office TCI Inc. for The Skyler Lynn Joey Corp. for The Big League Cohen Homes L.L.C. for The Van Gogh
Gold Silver Bronze
Best Integration of Technology Area Builders of Tidewater Inc. for Fragola Fete Strawberry Festival TCI Inc. for The Skyler Lynn J.F. Schoch Building Corp. for The Monarch Bank Wedding House
Gold Silver Bronze
Best Closet or Storage J.F. Schoch Building Corp. for The Monarch Bank Wedding House Joey Corp. for The Big League Cohen Homes L.L.C. for The Van Gogh
Gold Silver Bronze
Best Curb Appeal Area Builders of Tidewater Inc. for Fragola Fete Strawberry Festival Cohen Homes L.L.C. for The Van Gogh TCI Inc. for The Skyler Lynn
Gold Silver Bronze
Most Environmentally Sensitive Miller Custom Homes for The Mothership J.F. Schoch Building Corp. for The Monarch Bank Wedding House Area Builders of Tidewater Inc. for Fragola Fete Strawberry Festival
Gold
Best Green Building Feature Miller Custom Homes for The Mothership
Gold Silver Bronze
Best Landscaping Area Builders of Tidewater Inc. for Fragola Fete Strawberry Festival; landscaping by R.W. Askew Nursery Joey Corp. for The Big League; landscaping by Renaissance Outdoor Contracting Inc. TCI Inc. for The Skyler Lynn; landscaping by Bas- night Land & Lawn Inc.
Gold Silver Bronze
Best Outdoor Living Area J.F. Schoch Building Corp. for The Monarch Bank Wedding House TCI Inc. for The Skyler Lynn Area Builders of Tidewater Inc. for Fragola Fete Strawberry Festival
Gold
Best Garage Area Builders of Tidewater Inc. for Fragola Fete
Winter 2009
Silver Bronze
Strawberry Festival Joey Corp. for The Big League The Walters Company. Inc. for The Conner Glenn, TBA Charity House
Gold Silver
Best use of Concrete Miller Custom Homes for The Mothership Area Builders of Tidewater Inc. for Fragola Fete Strawberry Festival
Gold Silver Bronze
Best Exterior Water Feature Area Builders of Tidewater Inc. for Fragola Fete Strawberry Festival Cohen Homes L.L.C. for The Van Gogh The Walters Company. Inc. for The Conner Glenn, TBA Charity House
Gold Silver Bronze
Best Patio Area Builders of Tidewater Inc. for Fragola Fete Strawberry Festival Joey Corp. for The Big League J.F. Schoch Building Corp. for The Monarch Bank Wedding House
Gold Silver Bronze
Best Pool J.F. Schoch Building Corp. for The Monarch Bank Wedding House Area Builders of Tidewater Inc. for Fragola Fete Strawberry Festival Miller Custom Homes Inc. for The Mothership
Exhibitor Awards Best Indoor Exhibit Dr. Johnny’s Appliances
Best Indoor Exhibit Honorable Mention German Kitchen Center Best Outdoor Exhibit Innovative Spas
People’s Choice award winners Gold Silver Bronze
Favorite Home Miller Custom Homes for The Mothership Cohen Homes L.L.C. for The Van Gogh J.F. Schoch Building Corp. for The Wedding House
Gold Silver Bronze
Favorite Interior Design Miller Custom Homes for The Mothership; interior design by Cathy Tellefsen of Complete Interiors; Furnishings by Esprit Décor Furnishings TCI Inc. For The Sklyer Lynn; interior design by Connie Bussey of Creations by Connie; furnishings by Great Bridge Furniture, Haverty’s Furniture, and Innovative Spas Cohen Homes L.L.C. for The Van Gogh; interior design by Nancy Craig of Willis Furniture; furnish ings by Willis Furniture.
Gold Silver Bronze
Favorite Landscaping J.F. Schoch Building Corp. for The Wedding House; landscaping by Tom Underhill of Coastal Landscaping Cohen Homes L.L.C. for The Van Gogh; landscaping Tom Rozier of Dreamscapes Designers Miller Custom Homes for The Mothership; landscaping by Tom Underhill of Coastal Landscaping
New Home 9
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Building Dreams. One home at a time.
tes minu 2 in beach e h t lk to •2. Wa daily tain r e t en shop, , t u o e3. Din ain n ag w a l the mow r e v e 4. N If you’re wishing for a new lifestyle, look no further. Old house y m e Beach Village offers several unique of condos not atstyles decor o t found elsewhere ,000 in Virginia Beach. 5. $S20
Condo’s at the beach from the $300’s Rose & Womble Realty 757.422.6040 (site) Christy Guth 757.635.3304
Terri Thompson 757.560.4280
How do I get there? I-264 towards the oceanfront. At the end of I-264 turn left on Baltic Ave. At 29th-30th St, the site will be on both sides of Baltic before the traffic light. Model Address: 2900 Baltic Ave., Virginia Beach, VA 23451 Bring your imagination to life.
ainsliegroup.com 757.499.7000
10
New Home
Winter 2008
From A to Z:
A list of all new home communities in South Hampton Roads There’s a wide variety of new housing available in today’s market, as this comprehensive list indicates. Those listings in color have a display ad in this magazine. The information shown here was provided by Richard P. “Rip” Montague, president of Source Inc. of Virginia, courtesy of The Virginian-Pilot. Montague can be reached at (757) 335-0729 or via e-mail at ripm@sourceincofva.com (Information is current as of press time.)
COMMUNITY
TYPE
SQ. FT.
BUILDER
COMMUNITY
TYPE
SQ. FT.
Chesapeake from the $100s
BUILDER Rob Lang Homes; Majestic Hm; Stephen Alexander Ashdon Builders; Deford Co.; Eagle Const.; Peak Builders; J.F. Schoch Bldg. Corinth Homes Ashdon Builders; Graf Const. McLaughlin Const. Kroll Enterprises Lifestyle Homes
Brighton Park East
QB
1,300
Dragas Co.
Monarch Walk Portlock
TW SF
1,257 - 2,200 1,515
McQ Builders Balance Builders
Vance Level
SF
2,700 - 3,800
SF
1,700 - 3,000
Area Builders of Tidewater, Definitive Homes; Joey Corp.; The
Warrington Hall Westchester Estates White Egret Cove Windrose Farms Winstons Trace
SF SF SF SF SF
2,200 - 3,258 2,095 - 2,600 2,000 - 3,000 2,400 - 2,900 2,360 - 3,300
Bells Mill Estates
SF
2,300-3,000
Centaur Development; Pandell Builders
Crystal Lake South Fernbridge Frost Estates Lincolnshire Moore’s Farm Peyton Estates Preserve on the Elizabeth
SF SF SF SF SF SF SF
2.300 - 3,000 2,685 - 3,335 2,800 - 3,800 2,800 - 3,700 2,600 - 3,000 + 2,800 - 3,700 2,200 - 3,700
Savanna Heights Stony Run Manor Sutherlyn Estates White’s Landing Woods Edge
SF SF SF SF SF
2,284 - 3,300 2,135 - 3,400 2,600 and up custom 2,500 - 2,995
Ashdon Builders Chesapeake Homes Germel Inc.; Lifetime Homes Nelin Brothers Stephen-Alexander Homes Nelin Brothers Wermers Dev.; Sadler Building; Ainslie Widener Lifestyle Homes Kait Construction; Preston Homes Germel, Inc. Stafford and Sons Lifestyle Homes
Amelia Estates
SF
3,300 - 3,600
Legacy Estates, LLC
Ballahack Meadows Bell Manor Estates Blue Heron Pointe Brandon Woods Cahoon Plantation
SF SF SF SF SF
custom 3,000 - 3,500 3,000 custom custom
Coopers Creek Manor
SF
custom
Diamond Estates Edinburgh
SF SF
2,400 - 3,200 custom
Emerald Forest
SF
custom
Forest Lakes
SF
3,500
Various J&D Garner Designs of Distinction Germel Inc.; Wyatt Homes Castlerock Const.; The Walters Co.; Watab Const.; West Neck Properties Inc.; Windsor Homes G.T.C. Homes; Hook Custom Homes; MER Contracting; Z & T Builders TCM Homes L. R. Hill Custom Builders; Sadler Building; Cohen Homes; ABT; Wilmik Homes; Charles A. Schmitt; J.F. Schoch Building Corp. Dinsmore’s Custom Const.; Kres Homes; Princess Anne Builders; Wyatt Homes Prosperity Building Corp.
Culpepper Landing
Chesapeake from the $200s
Walters Co.; Vintage Homes; Next Level Group Deep Creek Commons Eagle Pointe at Cahoon Plantation Hampshires at Greenbrier Oneford Place Paramont Crossing Pughsville Crossing Retreat at Greenbrier, The Riverwalk Estates Ships Landing Town Gardens at Warrington Hall Towne Park at Goose Creek Legacy at Washington Arms Vistas at Warrington Hall
TH TH* TH MF* TH SF QB* TH SF TH SF TH* TH
1,478 - 1,491 1,535 - 2,201 1,568 - 2,000 1,300 - 1,800 1,593 - 1,632 1,500 - 2,580 1,402 - 2,328 1,820 - 2,200 2,026 - 2,475 2,200 plus 1,850 - 2,250 1,800 - 2,000 1,480
Ashdon Builders Eagle Const. Dragas Co. Franciscus Co. Harbour Const. Moody Development Weldenfield of Virginia Associated Development Hearndon Const. WH Builders Hearndon Const. Golden Heritage Homes WH Builders
Bells Hollow Estates Cedar Landing Estates Chapel Hill Estates
SF SF SF
2,000 - 2,500 2,000 - 3,000 1,900 - 3,600
Seacrest Homes McLaughlin Const. Back Bay Cont.; Summit Const.; Ashdon Builders; Graf Const. HBD Build, Inc.; Princess Anne Const. Lifestyle Homes; BECO Homes Glenrock Corp. Centex Homes Eagle Const. Napolitano Homes Wirth Development; Balance Lawson Homes Ashdon Builders Lifestyle Homes Lifestyle Homes Hearndon Const. Park View at Greenbrier Dev. Weldenfield of Virginia Ashdon Builders Tascera Development HAV, Inc.; HBD Build Inc. Stephen-Alexander Homes Bay Area Builders; Oasis Home Builders; Legacy East LLC;
Chesapeake from the $300s
Deep Creek Meadows
SF
1,300 - 2,200
Dock Harbour Eady’s Landing Eagle Lake at Plantation North Eagle Pointe at Cahoon Plantation Kemp Bridge Kendall Crossing Builders Lauren’s Grove Mariner’s Village Marsh Pointe Estates Mayberry Meadows Olde Mill Run Park View Condo at Greenbrier Retreat at Greenbrier, The Rivers Edge at Quailshire Rose Garden Estates Shillelagh Estates Sommerton Summer Park
SF SF SF SF & TH* SF SF SF SF SF SF SF MF SF & TH* SF SF SF TH* SF
3,000 1,900 - 3,000 2,300 - 3,087 2,018 - 2,469 2,740 - 4,800 1,365 - 3,500 2,400 - 2,700 1,896 - 2,315 2,650 - 3,200 2,600 - 3,200 2,525 - 3,200 1,060 - 2,269 1,672 - 2,762 2,254 - 2,942 1,900-3,000 1,800 - 2,664 2,300 - 2,800 2,100 - 2,800
Chesapeake from the $400s
Chesapeake from the $500s & up
(more listings, see page 12) Winter 2009
New Home 11
COMMUNITY
TYPE
SQ. FT.
BUILDER
Glen Abbey SF 2,700 - 3,700 Cedar Creek Const.; Stafford & Son Greystone SF 3,000 - 5,000 Cohen Homes; Designs of Distinction; Masterpiece Const.; Richardson Homes Lexington Place SF 3,800 Gateway Const. Long Ridge Estates SF custom C. E. Bryan Custom Builder; Wilmik Homes Ravenna SF 3,000 - 3,500 Commonwealth Custom Homes; Executive Homes; Hawk Res.; Nelin Brothers; Rio Vista; Sadler Building Corp.; R. B. Stevens Const. Rolling Wood Estates SF 2,600 - 4,000 Cashvan Homes LLC; Cedar Creek Const.; Cerino Ent.; Custom Castles Golden Heritage Homes; L & M Const.; Lawrence & Sons; J.D. Williams Whispering Pines SF 3,300 Metro Associates Woods of Whitehurst Station SF 3,400 - 4,000 Legacy Estates, LLC Franklin/Southampton County (all communities) Sandy Creek SF 1,890 - 2,475 Towne Development Joyner Farms SF 2,053 - 3,560 Virginia Enterprise Pines of Ivor SF 1,217 - 2,395 H H Hunt Homes Norfolk from the $100s Williamsburg Commons TH 1,400 Platinum Homes, LLC Norfolk from the $200s 388 Boush Street MF 700 - 1,438 Collins Enterprises Broad Creek SF/TH 1,800 - 3,100 Area Builders of Tidewater; Real Development; S. L. Johnson Corp.; Tivest Development Colonnades in Ghent, The MF 750 - 1,325 Marathon Development Fox Hall TH 2,000+ Bell Const. Granby Tower MF 700 - 4,342 Marathon Development Grantham Square TH 1,500 Covington & Associates Harbor Walk MF 2,000 - 2,670 Henin Group Landings at Bolling Square MF 1,188 - 2,067 Collins Enterprises Lofts at 500 Granby MF 915 - 1,105 500 Granby LLC Pretty Lake Village MF 1,655 - 1,875 Powell Mngt. & JD&W Const. Riverpoint Court Condominiums MF 1,200 - 1,550 Powell Management Rotunda, The MF 850 - 2,400 Wermers Development Row at Ghent, The MF 756 - 1,300 Bristol Development Shamrock Gardens TH 1,864 - 1,880 Cashvan-Cooper, LLC Tanner’s Landing MF 1,550 - 2,550 Tanner’s Landing Asso. Welton Lofts MF 950 - 1,100 Welton Building, LLC Westport Commons MF 1,100 - 2,000 Collins Enterprises Widgeon Point TH 1,880 Powell Development Norfolk from the $300s Bay Oaks Harbor SF 1,900 - 2,500 Stephen-Alexander Homes Cornick Place TH 1,743 - 1,800 JMAC Development Dey Street Commons SF 2,800 - 3,000 Freeman Homes; Asfari Homes Harbor Heights MF 1,104 - 2,436 Robinson Development Co. Harbor Walk TH 2,425 - 2,755 Henin Group McRae Commons MF 1,460 - 3,300 Va. Beach Const. Corp. The Hofflin Lofts MF 1,100 - 1,400 426 Granby, LLC Norfolk from the $400s East Beach Villas MF 1,161 - 3,066 East Beach Renaissance Elizabeth River Pointe SF 2,500 plus Valiant Ventures Federal Townehomes TH 2,500 M. D& D., LLC Landings at Bolling Square TH 2,142 - 2,931 Collins Enterprises Rivers Edge SF 3,900 Fulco Group Norfolk from the $500s & up East Beach SF custom custom builders Franklin Condominiums MF 1,800 - 3,000 Mark Barr Companies Shorewood Shores SF 3,000 plus Premier Property Builders
12 New Home
COMMUNITY 7th Bay Cheriton Crossing ($100s) Bay Creek - Fairways ($200s) Cherrystone ($300s) Tower Hill Estates ($300s) Kings Creek Landing ($400s) Bay Creek - Kings Bay ($500s) New Port at Victory ($100s) First Watch at River Point ($200s) Gateway at Sterling Point ($200s) Kings Gate Crossing ($200s) New Port at Victory ($200s) Oxford Place ($200s) Park View ($300s) Center 800 Creek Ridge Town Homes Montgomery Lofts
TYPE
SQ. FT.
SF
3,200 - 3,800
SF SF SF SF SF SF
1,300 - 1,500 1,550 - 1,890 1,900 - 2,500 2,500 plus 2,200 - 2,600 1,800 - 3,400
BUILDER custom builders
Northampton County (all Communities) BECO Homes Baymark Const. Williams Homes BECO Homes custom builders custom builders Portsmouth (all Communities) TH 1,425 - 1,750 Chesapeake Homes SF 1,750 - 2,300 Gee’s Group TH 1,147 and up Futura Group SF 1,750 - 2,125 Pace Const. SF 1,800 - 3,000 Chesapeake Homes MF 950 - 1,350 Oxford Place, LLC SF 2,500 - 3,200 The Olde Towne Co. Suffolk from the $100s MF 900 - 1,300 JMAC Development TH 1,100 - 1,400 AMAC Properties, LLC MF 800 - 1,300 139 N. Main St., LLC
Remington Park TH 1,600 - 1,750 Chesapeake Homes Residences at Hampton Roads Crossing QB 1,496 - 1,637 Terry-Peterson Residential Suffolk from the $200s BelleHarbour Woods SF 2,000 - 3,100 Napolitano Homes Belmont Park TH 1,586 - 1,787 Chesapeake Homes Brewers Meadow SF 2,000 - 3,200 Hearndon Const.; Napolitano Homes Christiana Landing SF 2,600 - 3,100 Towne Development Edgewood at Belleharbour Woods TH 1,800 - 2,136 Napolitano Homes Fairways Crossing SF 1,813 - 2,800 Etheridge Const. Forrest Glen II SF 2,000 - 2,500 Hearndon Const. Graystone Reserve SF 2,350 - 3,000 Chesapeake Homes Highland Green SF 2,134 - 2,310 Chesapeake Homes Kensington Park TH 1,900 - 2,400 Associated Development Kings Fork Farm SF 1,918 - 2,739 Terry-Peterson Residential Nelms Ridge SF 1,600 - 2,500 McQ Builders Residences Hampton Roads Crossing SF/TH 1,655 - 2,146 Terry-Peterson Residential Seasons on Lake Meade TH* 1,880 Powell Development Soundings on the Nansemond TH 2,000 - 3,000 Lawson Homes Suffolk from the $300s Benson Woods SF 2,400 - 3,200 Wirth Development Bob White Landing SF 2,100 - 4,200 Napolitano Homes; Gallagher Const. Harbour Breeze Estates SF 2,500 - 3,600 Lifestyle Homes; BECO Homes Hillpoint Meadows SF 2,434 - 3,605 Lifestyle Homes; Sadler Building King’s Greene SF 2,000 plus TJL Enterprises Orchard Cove SF 2,400 - 2,800 Ashdon Builders Parkside at Bennett’s Creek SF 2,200 - 3,300 Chesapeake Homes Pitchkettle Farms SF 2,500 - 4,200 Ainslie Group Prentis Place TH 2,100 plus Constance Investors, LC Vineyards at Bennetts Creek Square TH* 1,650 - 2,382 Napolitano Homes Woodlands of Nansemond SF 2,500 - 3,100 Rosewell Homes Suffolk from the $400s Herons Point SF 2,800 plus RML Corp. Nansemond River Estates SF custom Caruana Const.; Naranjo Brothers; Richardson Homes; Southside Home Builders; Vern Howerin Builders; Wilmik Homes Saddlebrook Estates SF 2,480 - 4,200 Associated Dev.; Residential Concepts; Reese Smith Const. Suffolk from the $500s & up Bridlewood Estates SF custom Quality Homes Ciara Estates 3 acres plus Developer Estates off Pitchkettle SF 2,800 - 5,000 Charlie Anderson Builder; Area Builders of Tidewater; CAJE Group; Crestline Homes; Joey Corp.; Richmarc Building Corp.; Charles A.
Winter 2009
COMMUNITY
TYPE
SQ. FT.
Governor’s Pointe
SF
2,805 - 4,000
Quaker Neck
SF
custom
Riverfront, The
SF
2,500 - 8,000
BUILDER Schmitt Cont.; J. F. Schoch Building; Shade Tree Custom Homes; B. Valentine Const.; WATAB Const.; Wendell Homes; G. S. Williams Inc.; Woodmasters Etheridge Const., Quality Homes; Sadler Building Corp.; Sasser Const. Ashley Asso.; D. M. Barbini; R. L. Blount; Caruana Const.; Kroll Building Corp.; Landmark Homes; Majestic Homes; Sewell Corp. Area Builders of Tidewater; Birdsong Builders; Emerson Builders; Norman Miller Homes; Orleans Home Builders; Russ Hohmann Builders; Sadler Building Corp; Sasser Const.
Virginia Beach from the $100s Ocean Trace Southmoor at Ridgely Manor Villas at Bellamy
MF MF QB
1,000 1,330 - 1,350 1,320 - 1,350
Ocean Trace, LLC Dragas Co. Dragas Co.
TH TH TH SF TH QB TH SF MF TH TH
2,098 - 2,245 1,809 - 2,278 1,825 - 2,200 1,500 - 1,700 1,900 - 2,400 1,700 - 1,834 1,380 - 1,985 1,950 - 2,050 695 - 1,063 1,658 - 2,240 1,790 - 2,074
Chesapeake Homes BQI Group, Inc. Chesapeake Homes Klebco Development Briba Dam Neck Corp. Dragas Co. Franciscus Co. Chesapeake Homes Armada Hoffler Dragas Co. Chesapeake Homes
Beach Bay Condos Belmeade at Ridgely Manor Bernard Farms Birdneck Forest Brookgreene Common Chelsea Place Fair Lady Fox Glen South Indian Point at Rose Glen Lake Archway Linkhorn Crest London Bridge Crossing North Shore Condominium Old Beach Village - Lofts Sajo Farm
TH SF SF SF SF TW* SF SF SF SF TH SF MF MF SF
1,935 2,200 - 2,500 2,550 - 2,981 2,200 - 2,600 2,100 - 2,500 2,300 - 2,450 2,100 2,000 - 2,130 2,600 - 3,100 2,038 - 2,300 2,220 and up 2,038 - 2,282 1,306 - 2,236 1,642 - 2,490 up to 3,300
Sherwood Lakes Thompkins Estates Tressel View West Neck - Rosecrest Woodbridge Pointe
SF SF SF SF* SF
2,041 - 2,669 2.600 - 2,750 1,900 - 2,700 2,086 - 2,780 1,867 - 3,182
Woodland Townhomes
TH
up to 2,400
Warner Const. Dragas Co. GBK Builders, Inc. WPL Ventures, LLC Great Atlantic Custom Homes Donald L. Moore CEP Development Bishard Development Hawk Residential; Pandell Builders Ainslie Group Linkhorn Crest, LLC Ainslie Group Towne Development Ainslie Group Napolitano Homes; Terry-Peterson Residential HAV, Inc. Georgio Construction Tignor Building Chesapeake Homes Summit Const.; Oceanside Building; McQ Builders; BECO Homes Woodland Townhomes, LLC
Atlantic Palisades Highland Parrish Hillcrest Landing Lane at Wildwood Mayberry
TH SF SF TW SF
2,400 2,575 - 3,480 2,300 - 3,200 2,000 - 2,200 2,400 - 4,200
Old Beach Village - Flats Prince George Estates
MF SF
1,642 - 2,490 2,350 - 3,300
Bluegrass Park at Lexington Bonneys Quay Cornerstone Diamond Commons Field Stone Glen Grace Hill at Ridgely Manor Grayson Pond at Wesleyan Nichols Park at Lexington Studio 56 Lofts Westbriar at Ridgely Manor Woodland Park at Lexington
Winter 2009
Virginia Beach from the $200s
Virginia Beach from the $300s
Virginia Beach from the $400s
Atlantic Palisades, LLC Ainslie Group Lifestyle Homes Monaco Homes C. E. Bryan Custom Builder; Back Bay Cont. Ainslie Group Back Bay Cont.; Bohn Const.; Gateway Const.; Graf Const.;
COMMUNITY
TYPE
SQ. FT.
Sanctuary at False Cape West Neck - The Grove Westin Virginia Beach Residences
MF SF* MF
1,400 - 3,000 2,036 - 2,989 800 - 4,000
921 Oceans Condo Ashville Park - Cottage Ashville Park - Custom
MF SF SF
2,400 2,400 - 2,800 2,800 - 4,000
Ashville Park - Estate
SF
custom
Back Bay at Lago Mar Back Bay Commons Bayvista Eagles Nest Heritage Park
SF SF MF SF SF
custom Custom 2,279 - 2,618 3,400 - 5,000 custom
High Court
SF
custom
Indian River Plantation Mira Bella North Shore at Ridgely Manor
SF SF SF
custom 2,300 and up custom
Oak Breeze Pungo Ferry Landing
SF SF SF
custom lots custom
Seaboard Acres Victoria Park
SF SF
3,150 - 3,400 custom
BUILDER Rio Vista Futura Group Chesapeake Homes Armada Hoffler
Virginia Beach from the $500s & up
Dunes Investment Asso. Chesapeake Homes Area Builders of Tidewater; Crestline Homes; L. R. Hill Custom Builders; Sadler Building Corp.; R. Savino Custom Homes; J.F. Schoch Building Corp.; The Walters Co. C. E. Bryan Custom Homes; Cohen Homes Custom Builders HBD Build, Inc.; Masterpiece Homes S. B. Ballard Const. West Neck Properties Back Bay Cont.; Caruana Homes; Cohen Homes; Commonwealth Custom Home Builders; Executive Homes; L.R. Hill Custom Builders; Kopassis Homes; Sadler Building Corp.; J.F. Schoch Building; WZ Homes Distinctive Homes; Kopassis Dev. Corp.; MAC Inc.; Metro Asso.; Sea Haven Custom Builders Miller Custom Homes; Cohen Homes Beach Bay Builders L. R. Hill Custom Builders; Cohen Homes; Wilmik Homes; Deford Company; Graf Const.; Legacy Estates Miller Custom Homes Developer Miller Custom Homes; M. M. Rollins, Jr. Co. WPL Ventures, LLC Caruana Homes; Executive Homes; Nelin Brothers; Rio Vista; DailyNestor Homes; StephenAlexander Homes; Styron Building
LEGEND MF
Multi-Family
QB
Quad Building
SF
Single Family
TH
Town Home
TW
Twin Home
*
Age Restricted
New Home 13
It’s showtime!
Learn everything you need to know to cultivate “A Garden for All Seasons” at the 2009 Mid-Atlantic Home & Flower Show Presented by Tidewater Builders Association and The Virginia Horticultural Foundation, the Mid-Atlantic Home & Flower show will take place at the Virginia Beach Convention Center Feb. 13-15 and once again bring together the area’s largest consumer shows, the Mid-Atlantic Home & Garden Show and the Virginia Flower Show. With a theme of “A Garden for all Seasons” and nearly 500 ex exhibits of products and services, this event will feature everything from flowers and plants, to garden arts and crafts. The show will also include lavish display gardens, along with ce celebrity headliners and a special focus on go going green. Hollywood actor Ed Begley Jr. will be there on Saturday, Feb. 14, to show you just how simple and inexpensive it is to go green. Begley is one of Hollywood’s top environmental leaders and serves as chairman of the Environmental Media Association. After giving his tips on how to be environmentally friendly, he will be available to sign his new book, Living Like Ed. For everyone out there with a green thumb, Felder Rushing, the “Gestalt Gardner,” will be appearing on the Idea Stage every day during the show. This 10th-generation “garden guru” will have the audience rolling with laughter with his off beat garden concepts and his idea on how to break the rules in your garden. Also appearing at the show will be Brian Santos, known as The Wall Wizard. He’ll be here to show audiences how to transform drab walls into some something beautiful, with just a little paint magic. Santos also will be sharing his tips on painting green and how to dispose of your paints in an environmentally friendly way. There will be fun for the whole family at 14
New Home
the show, so bring the kids along to see the Extreme Canine Stunt Dog Show. Former rescue dogs will take to the stage and perform amazing tricks including big air stunts, high jump bar challenges, comedy antics and a three-sport relay race. Plus, there will be an array of horticulture experts to provide interesting and informative tips on how to grow a better garden, and Artist Alley with an array of attractive art collections for sale.
Quick Facts Dates: Friday, Feb. 13 through Sunday, Feb. 15 Hours: 10 a.m. to 9 p.m., Friday and Saturday; and from 10 a.m. to 6 p.m., Sunday. Admission: $10 for adults and free for children 12 and under. Active-duty military and senior citizens get a $1 discount. Parking is free for this event. For more information and a $1 discount coupon, visit www.tbaonline.org or call (757) 420-2434
Winter 2009
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If you’re wishing for a new lifestyle, look no further. Oldse y hou m e Beach Village offers several unique styles of condos not at decor o t 0 found elsewhere in Virginia Beach. $S25,00
Building Dreams. One home at a time.
5.
From the $400’s Rose & Womble Realty 757.422.6040 (site) Christy Guth Terri Thompson 757.635.3304 757.560.4280 How do I get there? Take 264 S. Independence Blvd. exit, Stay on S. Independence & cross over Princess Anne Rd., Turn Left on Salem Rd, Go South 1/4 mi. past Elbow Rd. and site is on right. (Brick Entrance sign/walls) Model Address: 3908 Parish Cove Court, Virginia Beach, VA 23456 ainsliegroup.com 757.499.7000
Winter 2009
New Home 15
Home Buyer’s Dictionary
ARM? GPM? PITI?
You’d have to be a cryptologist to figure out some of the terms buyers encounter during the home buying process. Doing research on how to buy a house before beginning the process can greatly improve your experience and prepare you for the exciting course ahead. And with this glossary of home buying terms at your side, you can rest easy that your new home won’t get lost in translation.
Adjustable rate mortgage (ARM). A loan whose interest rate is adjusted according to movements in the financial market. Amortization. A payment plan by which a borrower reduces a debt gradually through monthly payments of principal and interest. Annual percentage rate (APR). The annual cost of credit over the life of a loan, including interest, service charges, points, loan fees, mortgage insurance, and other items. Appraisal. An evaluation to determine what a piece of property would sell for in the marketplace. Appreciation. The increase in the value of a property. Assessment. A tax levied on a property or a value placed on the worth of property by a taxing authority. Assumption. A transaction allowing the buyer of a home to assume responsibility for an existing loan on the home instead of getting a new loan. Balloon. A loan which has a series of monthly payments (often for five years or less) with the remaining balance due in a large lump sum payment at the end. Binder. A receipt for a deposit paid to secure the right to purchase a home at terms agreed upon by the buyer and seller. Buydown. A subsidy (usually paid 16
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by a builder or developer) to reduce the monthly payments on a mortgage loan. Cap. A limit to the amount an interest rate or a monthly payment can increase for an adjustable rate loan either during an adjustment period or over the life of the loan. Certificate of Occupancy. A document from an official agency stating that the property meets the requirements of local codes, ordinances and regulations. Closing. A meeting to sign documents which transfer property from a seller to a buyer. (Also called settlement.) Closing costs. Charges paid at settlement for obtaining a mortgage loan and transferring real estate title. Conditions, Covenants and Restrictions (CC and Rs). The standards that define how a property may be used and the protections the developer has made for the benefit of all owners in a subdivision. Condominium. A home in a multi-unit complex; each purchaser owns an individual unit, and all the purchasers jointly own the common areas, such as the surrounding land, hallways, etc. Conventional loan. A mortgage loan not insured by a government agency (such as FHA or VA). Convertibility. The ability to change a loan from an adjustable-rate schedule
to a fixed-rate schedule. Cooperative. A form of ownership in a multi-unit complex; the purchasers own shares of the entire complex rather than owning individual units. Credit rating. A report ordered by a lender from a credit bureau to determine if the borrower is a good credit risk. Default. A breach of a mortgage contract (such as not making monthly payments). Density. The number of homes built on a particular acre of land. Allowable densities are usually determined by local jurisdictions. Down payment. The difference between the sales price and the mortgage amount on a home. The down payment is usually paid at closing. Due-on-sale. A clause in a mortgage contract requiring the borrower to pay the entire outstanding balance upon sale or transfer of the property. A mortgage with a due-on-sale clause is not assumable. Earnest money. A sum paid to the seller to show that a potential purchaser is serious about buying. Easement. Right-of-way granted to a person or company authorizing access to the owner’s land; for example, a utility company may be granted an easement to install pipes or wires. An owner may voluntarily grant an easement, or in some Winter 2009
cases, be compelled to grant one by a local jurisdiction. Equity. The difference between the value of a home and what is owed on it. Escrow. The handling of funds or documents by a third party on behalf of the buyer and/or seller. Federal Housing Administration (FHA). A federal agency which insures mortgages that have lower down payment requirements than conventional loans. Fixed rate mortgage. A mortgage whose interest rate remains constant over the life of the loan. The payments are not necessarily level. (See Graduated Payment Mortgage). Fixed schedule mortgage. A mortgage whose payment schedule for the life of the loan is established at closing. The payments and interest rate are not necessarily level. Graduated payment mortgage (GPM). A fixed-rate, fixed-schedule loan which starts with lower payments than a level-payment loan; the payments rise annually over the first five to 10 years and then remain constant for the remainder of the loan. GPMs involve negative amortization. Hazard insurance. Protection against damage caused by fire, windstorm or other common hazards. Many lenders require borrowers to carry it in an amount at least equal to the mortgage. Housing Finance Agency. A state agency which offers a limited amount of below-market-rate home financing for low-and moderate-income households. Index. The interest rate or adjustment standard which determines the changes in monthly payments for an adjustable rate loan. Infrastructure. The public facilities and services needed to support residential development, including highways, bridges, schools and sewer and water systems Interest. The cost paid to a lender for the use of borrowed money. Joint tenancy. A form of ownership by which the tenants own a property equally. If one dies, the other would automatically inherit the entire property. Level payment mortgage. A mortgage whose payments are identical for each month over the life of the loan. Mortgage broker. A broker who represents numerous lenders and helps consumers find affordable mortgages; the broker charges a fee only if the consumer Winter 2009
finds a loan. Mortgage commitment. A formal written communication by a lender, agreeing to make a mortgage loan on a specific property, specifying the loan amount, length of time and conditions. Mortgage company (mortgage banker). A company that borrows money from a bank, lends it to consumers who want to buy homes, then sells the loans to investors. Mortgagee. The lender who makes a mortgage loan. Mortgage loan. A contract in which the borrower’s property is pledged as collateral and which can be repaid in installments over a long period. The mortgagor (buyer) promises to repay principal and interest, to keep the home insured, to pay all taxes and to keep the property in good condition. Mortgage origination fee. A charge by a lender for the work involved in preparing and servicing a mortgage application (usually 1 percent of the loan amount). Negative amortization. An increase in the outstanding balance of a loan when a monthly payment is not large enough to cover all of the interest due. Note. A formal document showing the existence of a debt and stating the terms of repayment. PITI. Principal, interest, taxes and insurance (the four major components of monthly housing payments). Point. A charge of 1 percent of the mortgage amount. Points are a one-time charge assessed by the lender at closing to increase the interest yield on a mortgage loan. Prepayment. Payment of all or part of a debt prior to its maturity. Principal. The amount borrowed in a loan, excluding interest and other charges. Property survey. A survey to determine the boundaries of your property. The cost will depend on the complexity of the survey. Recording fee. A charge for recording the transfer of a property, paid to a city, county or other appropriate branch of government. Real Estate Settlement Procedures Act (RESPA). A federal law requiring lenders to provide home buyers with information about known or estimated settlement costs. The act also regulates other aspects of settlement procedures. R-value. The resistance of insula-
tion material (including windows) to heat passing through it. The higher the number, the greater the insulating value. Sales contract. A contract between a buyer and seller which should explain, in detail, exactly what the purchase includes, what guarantees there are, when the buyer can move in, what the closing costs are, and what recourse the parties have if the contract is not fulfilled or if the buyer cannot get a mortgage commitment at the agreed-upon terms. Settlement. (See Closing). Shared appreciation mortgage. A loan in which partners agree to share specified portions of the downpayment, monthly payment and appreciation. Tenancy in common. A form of ownership in which the tenants own separate but equal parts. To inherit the property, a surviving tenant would either have to be mentioned in the will or, in the absence of a will, be eligible through state inheritance laws. Title. Evidence (usually in the form of a certificate or deed) of a person’s legal right to ownership of a property. Transfer taxes. Taxes levied on the transfer of property or on real estate loans by state and/or local jurisdictions. Veterans Administration (VA). A federal agency which insures mortgage loans with very liberal downpayment requirements for active-duty military, honorably discharged veterans and their surviving spouses. Walk-through. A final inspection of a home before settlement to search for problems that need to be corrected before ownership changes hands. Warranty. A promise, either written or implied, that the material and workmanship of a product is defect-free or will meet a specified level of performance over a specified period of time. Many builders offer 10-year warranties, like those provided through HW10, on their homes. Zoning. Regulations established by local governments regarding the location, height and use for any given piece of property within a specific area. (This information was provided courtesy of the National Association of Home Builders.)
New Home 17
Welcome home to a hero By Heidi Ketler
More than 27,000 Americans serving in the military have suffered grave injury to defend this nation’s freedom. In November, Tidewater Builders Association and its members rallied to help a local veteran achieve another kind of freedom — the freedom and independence of owning a home. TBA, Tidewater Modular Homes and Nationwide Custom Homes came together with Homes for Our Troops to build a specially adapted, mortgage-free home for 23-yearold Army Cpl. Jonathan Bartlett. Bartlett, a graduate of Maury High School in Norfolk, sustained life-altering injuries in 2004, a little more than a month after being deployed to Iraq. The IED (improvised explosive device) that ripped through the Humvee he was in near Fallujah left three others inside with minor injuries. Bartlett’s wounds, however, were dire. The blast riddled his body with shrapnel and forced the amputation of one leg above and one below the knee. On Nov. 7, Bartlett was given the keys to his new home during a ceremony at TBA’s Mid-Atlantic Home, Remodeling & Interior Design Show at the Virginia Beach Convention Center. The home was built by Tidewater Modular Homes, Nationwide Custom Homes and their suppliers. The majority of the construction was done at the Nationwide Custom Homes plant in Martinsville, Va. The home was then moved to the Virginia Beach Convention Center where the final work was done, including the trim work, drywall finishing and installation of the bamboo flooring. TBA was successful at recruiting volun2008 TBA President Ed Sadler poses teers and donations of material with Bartlett inside his new home during and labor from members to comthe house dedication ceremony. plete the project. “This has been a real team ef18 New Home
fort,” said Donna Belka, who operates Tidewater Modular Homes with her husband, Alfred “Fred” J. Belka. They have been Nationwide-authorized builders for 12 years. “Nationwide Custom Homes rallied all its suppliers to provide material donations and Tidewater Modular Homes worked as the general contractor, providing much of the on-site labor and supervising the volunteer subcontractors,” said Belka. In October, Bartlett visited the Nationwide Custom Homes plant in Martinsville and met the company’s employees and construction workers who actually built his home. “The management and plant workers enjoyed meeting Jonathan,” said Belka. “Everybody tends to be down because of the economy, but this group was really excited to build this new home for Jonathan. This has by far been the most challenging and the most rewarding project we have ever done.” At the ceremony in November, 2008 TBA President Ed Sadler expressed gratitude for Bartlett’s sacrifice in service to this country. “This young man was willing to put his life on the line for our country and he has paid a debt that we can never repay,” said Sadler. “To be able to give something back to someone who has given so much is especially meaningful.” Bartlett, who is a junior studying business management and communications at Old Dominion University, remained the humble and reluctant hero. “Getting hurt was not my choice, but you all giving me a home is your choice,” said Bartlett. “Giving your time, energy, effort and resources to make this happen means a lot to me.” Winter 2009
During the show, the home was open for public tours. When the show ended, the home was delivered to its permanent site and set on its foundation at a lot in the Deep Creek section of Chesapeake.
Q & A with ...
Vickie Sessler, Associate Broker
William E. Wood & Associates REALTORS® Jonathan Bartlett stands in the doorway of his home surrounded by Nationwide Custom Homes employees when he visited the plant in October, 2008. Standing with Bartlett is Donna Belka (left) of Tidewater Modular Homes and Andy Miller (center), president of Nationwide Custom Homes.
Q. How long have you been in the real estate business and how did you get started?
Bartlett’s new home is a 1,475-square-foot ranch-style home, featuring an open floor plan with wide halls and doorways. The three-bedroom, two-bathroom home is Americans with Disabilities Act (ADA)-compliant. Some of the unique features of the house include accessible kitchen cabinets, a roll-in shower with grab bars and a roll-under vanity. The house also has accessible heights for receptacles, switch plates, electrical outlets and closet shelving throughout the home, hardwood flooring and automatic door openers at exterior doors. (Valerie Myers, editor of New Home, contributed to this article.)
Q. How were you able to make new home realty your specialty in the business?
Homes for our troops is directing the mission Founded in 2004, Homes for Our Troops helps military personnel with severe injuries and/or disabilities sustained during active-duty war wartime service. The nonprofit organization gathers donations of building materials, professional labor and funds, and coordinates new home construction and renovations to existing homes. This is the first Homes for Our Troops project in Hampton Roads and the organization paid $80,000 for the property. The American Institute of Philanthropy, one of the country’s premier charity watchdog organizations, has included Homes for Our Troops in their “Top-Rated Veterans & Military Charities” listing. For more information, visit www.homesforourtroops.com.
Winter 2009
A. I have been a Realtor since 1985. A relative who was a realtor inspired me to get my license. From the experience of restoring my own first home, I knew I would find great satisfaction helping people dream what their new home would be.
A. Once in the business, I met Larry Hill of L.R. Hill Custom Builders, who was looking for an agent to sell his homes and to work with him in Homearama. We’ve been working together for 21 years now and have par ticipated in 13 Homearama events together. Q. How did it feel to win the first-ever Stanley award for Most Valuable Builder Agent? A. I was completely shocked and greatly honored to be nominated by Larry and then to actually receive the Stanley award. Larry and I have built a dedicated relation ship over the years and he has always made it possible to deliver what I promised our buyers. Q. What are some key things home buyers should look for when choosing an agent? A. When it comes to new construction homes, I feel buyers should look for someone who can see their vision of a home and who understands the building process. Q. What are some things people should know about looking for a new home in this economy and market that we’re currently experiencing? A. Yes, the economy is a little volatile right now. However, I do know that builders are very willing to accom modate buyers’ wishes as much as possible. Building costs have gone down and many lots are available. It truly is a great time to build a new home. Contact Vickie Sessler at (757) 318-3803 or vickiesessler@williamewood.com. New Home 19
It’s a good sign. Buying a new home is one of the most important investments you’ll ever make. So why not protect that investment with a 10-year home warranty? Service and security since 1984 LOCALLY OWNED AND OPERATED
(757) 424-6523 www.HW10.com
20 New Home
With HW10, your new home is insured for 10 years against major structural defects. However, you can’t purchase an HW10 policy on the open market. It’s a benefit that only comes from an HW10-registered builder. So, when it’s time to make your new home purchase, ask your builder if he belongs to the HW10 program. If he does, it’s a good sign. Winter 2009
Financing Fundamentals
Buying your own Masterpiece home is easy! Your home is one of the most important investments you can make. Whether you are a first-time home buyer, a seasoned homeowner or somewhere in between, your needs are unique. Partnering with a dedicated and experienced mortgage lending professional ensures that you find the right loan to match your needs and opportunities. Your mortgage lender is there to provide the options, expert advice and superior client service that make the lending process flow smoothly. Of course, when you’re looking for a home, not just any place will do. You have personal preferences, likes and dislikes, and needs for particular features in your home. Your home loan options should be just as flexible to meet your needs. Whether you’re looking for a fixed monthly payment, lower initial payments, investment or vacation home financing or something in between, your mortgage lender should take the time to listen, understand your goals and then work closely with you, explaining your options in more detail and helping you determine which loan is best for you. MORTGAGE OPTIONS: Fixed Rate Mortgages • Variety of fixed rate loan terms available • Fixed payment for the life of the loan • Jumbo financing available • Balloon financing available Adjustable Rate Mortgages (ARMs) • Lower initial monthly payments for a specified period • Annual and life rate caps to limit interest rate movement • Jumbo financing available Construction/Permanent Mortgages • One loan covering the entire home-building process, from groundbreaking to housewarming • Only one set of closing costs • Jumbo financing available
Veterans Administration (VA) Mortgages • Available to active and retired military personnel • 100 percent financing available Low Down Payment and First-Time Home buyer Mortgages • Little or no down payment required • Gift funds allowed • Down payment assistance allowed • Rural financing available
In addition to expert advice, you deserve a prompt response and superior service, from application to closing. In addition to discussing the various loan programs with you, your mortgage lender can provide information about pre-qualifications and home buying education and counseling. When you are ready to apply, your lender can also help you determine what documentation to bring with you. This can include: • Your executed sales contract, if purchasing • A copy of your deed, if refinancing • Copies of your sales and/or construction contracts, as well as your house plans and specifications, if building • Original W-2 forms for the last two years – or your last two complete federal income tax returns if you are self-employed, on straight commission, own more than 25 percent of a company or partnership, or receive large bonus income • Original pay stub for your most recent pay period, covering at least 30 days • Proof of Social Security number (or ITIN) • Deposit, retirement and equities account statements for the most recent two months • Verification of funds for down payment and closing costs • Residence history and name, address and phone number of your mortgage company or landlord for the past 24 months • Employment history for the past 24 months and the address of the personnel office if different from your work address • List of debts, including approximate balance, required monthly payment and account numbers • List of properties owned, their approximate market value and the amount of annual tax and hazard insurance bills • The estimated value of your furniture and other personal property, including vehicles, boats and campers–including the make and model numbers of all vehicles Your needs are unique. Being prepared and working closely with your mortgage lender gives you the benefit of valuable expertise that can make your loan application process move smoothly and efficiently.
Source: BB&T Mortgage Member FDIC
Loans subject to credit approval. Winter 2009
(757) 546-3011 www.bbt.com New Home 21
House Call
Edinburgh Meadows
Where custom homes, convenience and conservation go hand-in-hand By Valerie Myers Over a year after hosting Homearama in 2007, Tidewater Builders Association’s single-site custom home showcase, Edinburgh Meadows in Chesapeake continues to exemplify how a residential development and a commercial retail center can coexist successfully and, in fact, complement each other. Developed by Precon Development Corp. of Chesapeake, Edinburgh Meadows is located just off Route 168 in the city’s burgeoning Hickory area. Less than an hour’s drive from the Outer Banks and only 15 minutes from downtown Norfolk, Edinburgh is ideally situated for peaceful suburban living with the convenience of nearby metropolitan and coastal attractions.
22
New Home
Development of phases I and II of Edinburgh Meadows is now fully complete and ready to accommodate new home buyers. As with most other developments in the area, the downturn in the industry has affected immediate purchases but the spacious ½-acre to ¾-acre custom home lots continue to attract interest from prospective buyers looking to upgrade from their current homes. “We are patiently waiting out the market,” says Doug Fuller, vice president of Precon. “A lot of folks are in the process of selling their existing homes and when they do, we are here ready for them.” Also ready for those homeowners is the largest retail center between the Greenbrier area of Chesapeake and the Outer Banks of North Carolina – Edinburgh Commons, an 850,000-square-foot commercial retail center adjacent to Edinburgh Meadows. Edinburgh Commons features a mix of national and specialty retailers, restaurants and services including Target and Home Depot, with Wal Mart and Cracker Barrel scheduled to open in 2009. The diverse retail center also includes several shoe stores and banking institutions, two day spas, hair salons and a variety of eateries specializing in everything from seafood or Mexican to fast food or cupcakes. “It’s virtually a self-contained community,” says Fuller. “Almost any type of business or service you may need is right around the corner.” Winter 2009
Edinburgh Meadows also takes pride in being familyfriendly. Accessible walking and biking trails meander through the community and several areas alongside one of the tranquil lakes present the perfect spot for socializing with neighbors or a family picnic. “Being within the Hickory school district of Chesapeake and centrally located between North Carolina and the Hampton Roads metro area,” says Fuller, “Edinburgh Meadows offers residents a unique blend of luxury, custom home-living and nearby convenience not found in many other neighborhoods.” More than 100 acres of woods was preserved and the lakes were created to help maintain the natural habitat for existing wildlife. Even before Edinburgh Meadows captured a 2008 Stanley Award for Best Community (in the category for 100 to 250 home sites) the sprawling development had garnered a much-deserved Stanley Award for Conser Conservation and Preservation in 2007. The spacious lots of Edinburgh Meadows along with the development’s conservation efforts and its proximity to a successful retail center are what have attracted some of the area’s finest custom home builders to the neighborhood. And Precon Development Corp. looks to continue that tradition with the next phase of the development. Phase III of Edinburgh Meadows, on track for completion within the next few years, will allow more homeowners to enjoy all that
Edinburgh Meadows has to offer. Phase III will incorporate more custom home lots into the development while maintaining the natural beauty of the landscape and preserving the ecological relationships within the surrounding environment. For more information about Edinburgh Meadows, visit www. edinburghinchesapeake.com.
This page: The Kendell Ann, built by The Walters Co. Inc. Facing page: The Reece Michael, built by Area Builders of Tidewater Inc.
Winter 2009
New Home 23
Critics’ Choice
Best In ShowGold Award
John W. “Chip� Iuliano 757-488-HOME
Interesting House Features: Custom Shutters Throughout
Drive through porte-cochere, wrap around front porch and covered breezeway welcome guests from the street to this stately home. Large covered porches bring the outdoors in with over 800 square feet of porches. Inside a luxurious master suite comes complete with sitting area, old-fashioned claw-foot tub, and steam shower with body jets and rain head. First oor master suite, formal dining room, home ofďŹ ce, large eat - in kitchen. 2 Fireplaces. Media room and 3 bedrooms and 3 full baths complete the upstairs. 3 Car garage with heat and air conditioning and 1/2 bath.
Marketing by ABT Realty Mary Ross Ellsworth 757-288-8822
WWW.ABTCUSTOMHOMES.COM
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New Home
Winter 2009
A new home for a newlywed couple By Valerie Myers In 2002, the Warrington Hall neighborhood in Chesapeake hosted Tidewater Builders Association’s annual Homearama event. And six years later, a newlywed couple with special ties to Homearama is making a new house in Warrington Hall their home. In December, Kevin and Dominique Stanley moved into their new home in Warrington Hall built by Kotarides Builders. After a few months’ search to find the home in which to began their new life together as husband and wife, the Stanleys stumbled upon their spacious two-bedroom townhouse while looking at a condominium community nearby. “Since it was right up the street from the condo we were visiting,” says Dominique, “We decided to take a look at Warrington Hall and immediately fell in love with the neighborhood.” The main thing the Stanleys were looking for was a nice, safe community in which to settle down and raise children. The couple knew exactly what they wanted in a new home that fit within their price range and what they found in Warrington Hall truly fit the bill. Warrington Hall, by Kotarides Developers, is a 130-acre, mixed-use neighborhood in the Greenbrier area of Chesapeake. The development consists of several housing types and an office and retail spaces. Designed as a pedestrian-friendly community with more than 33 acres of parks and open space, Warrington Hall also features a community swimming pool, tennis court and baseball and soccer fields. The Stanleys purchased a 1,500-square-foot all-brick condo townhouse, which features nine-foot ceilings and a covered outdoor living area. The Stanleys were also able to have the builder create an upstairs office area in the house – a feature Winter 2009
unique to their particular home. “We really like the landscaping throughout the neighbor neighborhood, the walking trails, sports fields and clubhouse,” said Dominique, “And the neighborhood is within close proximity to the mall and other shopping centers in the Greenbrier area.” After getting engaged last August, the Stanleys had decided to put off having a wedding and “focus [their] finances and energy on buying a house,” according to Dominique. The couple’s determination paid off and they signed a contract on their home Sept. 17, 2008.
Kevin and Dominique Stanley take their vows on the steps of The Wedding House at Homearama 2008. See newlywed home, page 26 New Home 25
Newlywed home (continued from page 25)
The Stanleys will reside in their new 1,500 square foot all-brick condo townhouse at the Vistas at Warrington Hall in Chesapeake, built by Kotarides Builders. Unbeknownst to the Stanleys, while they were on their search for a new home, TBA and Jack and Margaret Schoch of J.F. Schoch Building Corp. had been on the hunt for a couple to whom they could give a free wedding. The Schochs have hosted weddings at their Homearama homes twice before and this time, they wanted to specifically honor a military couple. One would think that would be easy enough to do considering the thousands of military members residing in the Hampton Roads area. Yet, after months of searching for a couple available to have a wedding during Homearama, and a few false starts, the coordinators working to make the wedding happen were growing anxious. Within days after signing the contract on the house, Dominique had a chance meeting with an acquaintance, who also happens to work for TBA, at a PTA fundraiser at Richard Bowling Elementary School in Norfolk, where Dominique is a counselor.
First-time home buyer tax credit FAQs With lower home prices and interest rates, now is the time to take advantage of the government tax credit for first-time home buyers. Here’s what you need to know:
Who is eligible? The $7,500 tax credit is available for first-time home buyers only. The law defines a first-time home buyer as a buyer who has not owned a home during the past three years. All U.S. citizens who file taxes are eligible to participate in the program. Income limits Home buyers who file as single or head-of-household taxpayers can claim the full $7,500 credit if their adjusted gross income (AGI) is less than $75,000. For married couples filing a joint return, the income limit doubles to $150,000. Single or head-of-household taxpayers who earn between $75,000 and $95,000 are eligible to receive a partial first-time home buyer tax credit. Married couples who earn between $150,000 and 26 New Home
The bride-to-be told the TBA staff member about the couple’s decision to forgo a wedding in order to purchase a home and, as they say, the rest is history. The pair fulfilled TBA’s goal to honor a military couple because Kevin, the groom, had spent six years in the Marines training as an aviation radio repairman and served a tour in the Middle East. He is now in the inactive reserves and works as a research assistant at Norfolk State University. Even before a couple was found, an inspired team of people including TBA staff, the Schochs, a professional wedding coordinator and several of The Virginian-Pilot employees, were hard at work securing donations to help make the wedding a success. The team was able to obtain, among other things, wedding invitations, flowers, a wedding cake and photography – all for free. Even Dominique’s wedding gown and the couple’s wedding rings were graciously donated by area businesses. It was a brisk fall afternoon on Oct. 17, 2008, when the couple said their vows before a host of family, friends and several strangers – courtesy of some visitors to TBA’s Homearama event at Ashville Park in Virginia Beach. The wedding ceremony took place on the front lawn of The Monarch Bank Wedding House, built by the Schochs. The reception was held inside the home, which was elegantly decorated by Margaret Schoch of Unique Elegance, an interior design firm. Since moving into their new home, the happy couple has been hard at work decorating and they couldn’t be more pleased with how things have progressed. “The wedding was truly a dream come true for us,” said Dominique. “We are very thankful to God for blessing us and to TBA and the Schochs for helping to make our dreams a reality.” “We love our new home and we see our future together being very fruitful,” adds Kevin. “We’re looking forward to having children within the next couple of years, expanding the youth ministry at our church and continuing to be emotionally, spiritually and financially one.”
$170,000 are eligible to receive a partial first-time home buyer tax credit. The credit is not available for single taxpayers whose AGI is greater than $95,000 and married couples with an AGI that exceeds $170,000. Effective dates for the tax credit First-time home buyers would receive a $7,500 tax credit for the purchase of any home on or after April 9, 2008 and before July 1, 2009. To qualify, you must actually close on the sale of the home during this period. Buyers can take the tax credit in their 2008 or 2009 tax return. If you purchased the home in 2008, the tax credit is taken on your 2008 tax return. If you buy in 2009, you have the option of taking the credit on your 2008 or 2009 tax returns. What types of home qualifies for the tax credit? All homes, whether single-family, townhomes or condominium apartments will qualify, provided that the home will be used as a principal residence and the buyer has not owned a home in the prior three years. This also includes newly constructed homes. For more details on the tax credit, go to www.federalhousingtaxcredit.com Winter 2009
Winter 2009
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New Home
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New Home
Winter 2009
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