International Luxury Real Estate Purchasing and Selling

Elaine VonCannon proudly bears the Coldwell Banker Previews International designation, a title she has earned over the past 13 years as a buyers agent and real estate listing agent specializing in luxury homes for sale in Virginia.  In 2012, VonCannon became an Associate Broker for Coldwell Banker Traditions in Williamsburg, Virginia, providing her VIP clients with far more expertise than the average REALTOR.

With well over a decade in experience at selling distinguished homes, Elaine VonCannon can market prestigious real estate effectively, and reach qualified buyers. When representing the buyer, assessing the actual quality of a luxury home is an important skill. She pays special attention to the property’s architectural, structural and aesthetic characteristics, in addition to the features of the landscape and exterior of the property.  

Estate Homes in Virginia

VonCannon has successfully completed the sale and purchase of numerous estate properties that are well-appointed, prestigious residences offering privacy and the comforts a luxury buyer expects.   Situated just two to three hours south of Washington D.C. and close to the Northeast corridor, luxury real estate properties in Virginia are easily accessible to major metropolitan areas. These estate homes are often located in the stunning waterfront areas in the Chesapeake Bay region and Virginia’s countryside.   

Purchasing Luxury Homes and Real Estate

Coldwell Banker International Previews is a program designed for distinguished buyers searching for mansions, estate homes, horse farms, waterfront homes, historic homes or other types of ‘one of a kind’ properties.   Elaine VonCannon’s service to her clients includes confidentiality, discernment and respect.   She is known for exceeding her client’s expectations and negotiating the best possible price and contract on luxury real estate properties.     

Selling Estate Homes and Other Types of Luxury Real Estate

VonCannon and her team provide global marketing services for sellers in the luxury home market by listing exceptional estate homes for sale on her premiere website, EstatesInVirginia.  In addition to her websites, VonCannon places luxury home and real estate listings in Coldwell Banker’s CBSREC Buyer’s Guide and website -- geared directly toward the international real estate market. Luxury properties listed with VonCannon Real Estate display the Coldwell Banker Previews ‘for sale’ sign and provide a Previews information sheet outlining the unique, upscale highlights of the property.  

In today’s real estate market, it is essential to choose a real estate professional who is willing to work diligently to protect the interests of the VIP client.  The VonCannon Real Estate team brings a wealth of experience in the Virginia real estate market and reaches international audiences, too. Work with Elaine VonCannon and you will access her expansive networks, global connections, marketing expertise and resources to buy or sell a magnificent residence unlike any other.      

To find luxury real estate in Virginia, visit http://www.voncannonrealestate.com or http://www.estatesinvirginia.com.   

Virginia Real Estate Professional Earns Broker License and Coldwell Banker Previews Designation

(Williamsburg, VA)   Elaine VonCannon is now an Associate Broker for Coldwell Banker Traditions in Williamsburg, VA.  She recently obtained her broker license from the Virginia Department of Professional and Occupational Regulation after successfully completing several educational modules, including Virginia Real Estate Law and Appraisal. In addition to obtaining her Virginia Broker License, Ms. VonCannon is an Associated Buyers Representative (ABR) and Senior Real Estate Specialist (SRES) and a seasoned property manager. She has assisted her clients in buying and selling residential and commercial real estate in Virginia for 13 years.  

Elaine VonCannon has two websites where Virginia real estate listings can be viewed online, VonCannonRealEstate.com and EstatesInVirginia.com. 

Coldwell Banker International named her a Coldwell Banker Previews Specialist this year, enabling her to showcase some of the most prestigious luxury real estate in Virginia to affluent buyers worldwide. 

“Elaine VonCannon is a real estate professional who understands what it takes to be an industry leader and is committed to her profession,” says Sam Mayo, associate broker and director of business development for Coldwell Banker Traditions.  “She recently added the titles of Associate Broker and Previews Specialist to her list of accomplishments, and we are very proud to have Elaine as part of our team,” he added.

Elaine VonCannon and John Starke, a financial advisor in Richmond, Virginia, hold joint real estate and investment seminars at churches, civic originations and for the general public.  Topics include:  1031 tax free exchanges, first time home buyers, senior buyers, investment properties and Delaware Statuary Trust. Individuals learn how to take a deeper look at real estate investment strategies, re-examine them and execute new ideas for maximum profit. 

Mayo also noted VonCannon, “Blends her real estate success and business knowledge with a true desire to help her customers and clients, and it doesn’t get much better than that.  Elaine is to be commended for becoming a broker as well as earning her distinction as a luxury homes specialist.” 

Elaine’s radio shows and televisions interviews and syndicated articles on real estate topics are easily accessible on her websites.  Home buyers can sign up for a free home 

Master Planned Communities versus Retirement Communities: A Comparison

In the year 2012 and beyond, retirees who are 50+ are seeking a certain type of lifestyle. Retired adults are not just seeking a home in Virginia, North Carolina, South Carolina, Florida or Arizona, where there is a warmer climate most of the year and property taxes are lower than Northern states. For many, full enjoyment of retirement includes continued good health. Excellent health is dependent upon activity: physical, social and intellectual.

Retirement Communities are a Lifestyle Choice for Those With Health Issues
In the recent past, retirement communities have been a popular choice for those in their 60s, 70s, and 80s -- because many offer easy transitions into assisted living and skilled care, should the health of one or both partners fall into decline. This option is still popular and a wise choice for many – especially those without long-term care insurance or children nearby who have time and space to tend to their parents’ health.

Master Planned Communities are a Choice for Many Who Retire Early
Plenty of professionals are finding themselves retired at an earlier age than 65. Adults aged 50+ are either retiring early by choice or because organizations offer them sweet financial deals with an early out. For many in this category, and even some well into their 60s and 70s who remain active, the most desirable lifestyle is an active retirement in an elegant, well-appointed home in surroundings which make it easy to engage in physical and social activities.

Many have been postponing retirement due to uncertain economic times. Some are being told to retire early, as organizations and companies cut back. With recovery from the recession a reality retirement is already on the increase and so is the popularity of living in a master planned community.

Those Who Enter Master Planned Communities Retain Equity in Their Homes
One major advantage in selecting a master planned community over a retirement community is that the homeowner continues to retain equity in a property they have spent a lifetime financing. A home in a master planned community is purchased through a REALTOR and a mortgage or deed of ownership is obtained. Monthly or annual fees usually apply for lawn maintenance, use of golf course, fitness area, clubhouse and other facilities, and additional usage fees may also be added.

Retirement Communities Often Require Large Up-Front Sums to Enter
In most retirement communities, the homeowner must first sell their home in order to meet the financial qualifications to enter the community. A large sum of anywhere from $150,000 and up, is required, and is not usually refunded upon death. The individual must pay the retirement community additional monthly fees for dining, health care, access to fitness facilities and other services. This monthly fee is usually set at one rate, and if health declines, the person may enter assisted living or skilled nursing care. Retirees who have lost their spouse, or whose children live out of state or country, often select a retirement community over a master planned community to ensure they have health care, transportation, and other services, when it becomes necessary.

Master Planned Communities in Williamsburg, Virginia
In Williamsburg, Virginia, there are some excellent master planned communities. Two examples include: Colonial Heritage and Ford’s Colony. These are gated golf communities where luxury homes may be purchased with yard care included, access to restaurants on site, contemporary fitness centers with a full calendar of activities, walking paths that wind through wooded and natural areas, and more. There may be age restrictions for residents of the community (usually 50 or 55+ are only allowed to reside there) and houses can be expensive -- ranging from $250,000-500,000 or more.

Many adults who conclude their professional careers find master planned communities to be their retirement destination of choice. Others see retirement communities as a wiser option, especially if they are aging with health issues. Whatever the choice is for living in retirement – individuals and couples will find the perfect match for their own lifestyle.

Visit VonCannon Real Estate or Estates in Virginia to view homes for sale in master planned communities in Williamsburg, VA.

Select Your Real Estate Agent Carefully in Today’s Market

(Williamsburg, VA) In a difficult housing market, buyers and sellers rely upon good, solid real estate counsel to close deals. Many properties in the Virginia real estate market have lost value over the last two years, and sellers are faced with the prospect of short sale or foreclosure.

Elaine VonCannon, a REALTOR with Coldwell Banker Traditions in Williamsburg, is providing buyers and sellers solid solutions and additional help in the sale or purchase of a home to make the transition easier in this climate. VonCannon says, “In the current market, in most cases I have provided a free one-year home warranty to home buyers and home sellers.”

To make certain pricing reflects what an appraiser would price the property for, she also offers a free Current Market Analysis to buyers and sellers. “I will continue to provide complimentary CMAs and home warranties until the real estate market is stabilized,” said VonCannon. Buyers in this real estate market want assurance they have little or no out-of-pocket home repair expenses during the first year of home ownership. Sellers need to be listing their properties within the guidelines of the CMA.

To complement VonCannon’s residential and commercial real estate business, her business partner, John Starke, offers financial and investment services. Starke is offering VonCannon’s clients a free asset evaluation. Some other services he provides include insurance, long-term care insurance, estate planning and retirement planning.

In many areas of the United States, including Southeastern Virginia, the housing market is nearing bottom. According to an article by the Wall Street Journal in November 2011, “Bank of America Merrill Lynch economists expect the foreclosure process to speed up in nonjudicial states next year, with liquidations peaking in 2013. This is partly why they expect home prices to drop another 8% on average nationwide over the next 18 months before bottoming.”

Currently, property is a good value in several Virginia counties. Investment is highly recommended in real estate in Central Virginia, the Northern Neck, Hampton, Newport News, James City and York Counties. This is mainly due to price reductions over the last two years in these geographic areas.

Elaine VonCannon joined Coldwell Banker Traditions in 2011 because the real estate agency was expanding, and had a reputation for delivering the best client service in Williamsburg, Virginia. VonCannon has built her real estate business model on customer service, so Coldwell Banker’s reputation dovetails nicely with her philosophy. This includes keeping in touch with clients, past and present, returning phone calls promptly, and showing homes in the evenings and on weekends and holidays.

Elaine VonCannon believes there is no magic bullet for selling or buying a home. The buyer and seller need to have the right agent who understands the timing of contracts and is a good negotiator. A REALTOR is preferred since he or she will abide by the code of ethics.

For more information on homes for sale in Virginia, visit: http://www.voncannonrealestate.com or http://www.estatesinvirginia.com. Or, call Elaine VonCannon directly at 757-288-4685.

Buying and Selling a Home: Assessment vs. Real Estate Listing Price

Real estate assessment values are essentially taxes determined by the county or municipality where a property is located. These taxes are collected from the property owner and used to pay for municipal services.

Assessment values on properties in Williamsburg, James City and York Counties are on the decline in 2010 and 2011. Yet actual home prices are showing great variance – either above or below assessed value. For example, in York County two out of eight homes sold for less than assessed value in 2011 while the other six sold for more than assessment, according to an article in the Virginia Gazette, “Price Vs. Appraisal” by Steve Vaughan. The article also noted that in James City County pricing above or below assessed value has been found even in the luxury real estate market.

James City County Real Estate to Decline 6% in Assessed Value by July
Final 2011 end-of-year figures indicate pricing for real estate assessments in James City County are down. Assessments in James City County completed in early 2010 declined by .9%. According to research collected by Steve Vaughan, “real estate assessments in James City are estimated to drop by 6% come July.” James City County properties are assessed every two years and are due to be re-assessed in 2012.

York County Property Assessments Down in 2010 & 2011
Vaughan’s article also indicated York County assessments are on the decline. Decreases of 1.4% in 2010 and 4.5% in 2011 are cited. Rick Millman, the County Assessor said, “Homes below $250,000 have held up better than town homes or condos. Homes in the $250,000-750,000 range have not done as well because of the limited number of potential buyers that can, or are willing to purchase homes in that range.” Meanwhile, Millman indicated waterfront properties and luxury homes have been able to hold their value.

How Important is a Tax Assessment When Determining Market Value?
Buyers and sellers should not use the tax assessment as a guideline for the value of a home. Many home sellers do not understand that tax assessment value has little to do with the market price for a home. In real estate transactions, market price is determined by an appraisal.

The Current Market Analysis (C.M.A.) is a wonderful tool REALTORS use in order to price a home before it is placed on the market. This report will survey comparable properties and recommend realistic price ranges. Matters affecting current real estate price variation include: age (when home was first built and recorded), short sales and foreclosures that have closed in the past 12 months, location of the home, and other factors.

Home Valuations on Popular Real Estate Listing Websites
Many homeowners are using websites that display free or low cost real estate listings to find values on their homes. This type of property valuation is fraught with difficulties and produces mostly inaccurate market pricing. These websites are usually reliant upon computer-generated methods to determine pricing on a property, and their estimates are generally based on averages.

When a seller lists a property, no matter where it is located, he or she should have a qualified REALTOR gather real time home pricing information. Do not rely on tax assessments or real estate websites to provide accurate, current information on home listing prices.

In conclusion, tax assessments are not the primary source of pricing information for real estate transactions, in any real estate market. Assessments exist and are collected so a tax base can provide the necessary support for a community. For pricing, request a Current Market Analysis from a real estate professional. Buyers truly interested in a property will have an appraisal conducted because it will be required by a lender or bank to close the sale.

For a free C.M.A. on your home for sale in Virginia, email voncannonrealestate@cox.net, or visit http://www.voncannonrealestate.com.

Luxury Homes for Sale in Virginia a Good Bargain

(Williamsburg, VA) Reduced pricing on real estate listings in Williamsburg and surrounding areas indicates many sellers are still over leveraged and experiencing some sort of financial hardship. Divorce, death and the necessity to relocate also create a need to sell quickly. In Virginia, there are many opportunities to find luxury homes, waterfront estates, historic homes and estate properties. Farms, farmettes, equestrian properties, homes with acreage and waterfront properties are also listed. Many properties are priced to sell and are a good value.

The pressures of the new economy are affecting real estate listings over $500,000. According to Virginia Association of Realtors (VAR), median home values in the Chesapeake Bay and Hampton Roads region of Virginia declined 9.8% since last year; homes prices in Norfolk, Virginia Beach and Chesapeake are reduced 15.9%; and in Richmond, there are 6% decreases. Northern Virginia median home sales prices have increased by 1%.

Foreclosures and short sales are plentiful in luxury real estate. Coldwell Banker recently unveiled a new program for luxury buyers and sellers: Coldwell Banker Previews. This allows luxury buyers a detailed look at exclusive properties. Many real estate professionals recommend casting a wider geographic area for a home search to find the best deals.

Elaine VonCannon, a Coldwell Banker REALTOR, recommends taking a closer look at homes for sale in several areas of Virginia. “Look at waterfront homes in Chesapeake Bay Country and estates and historic homes in Williamsburg, James City County and York County. In York, Henrico and Chesterfield Counties, buyers will find horse farms and estates with equestrian facilities for sale. High end home buyers in these areas of Virginia will find excellent bargains right now,” said VonCannon.

“Interest rates are historically low, at approximately 4% for well-qualified buyers,” said VonCannon. “This, combined with the sharp reduction in prices for luxury homes in Williamsburg, Richmond, and Tidewater Virginia, creates an excellent opportunity for home buyers,” she added.


Although median sales prices for homes are declining in some Virginia real estate markets, the number of home sales across the Commonwealth is stabilizing, according to VAR QE3 2011 report. In Richmond, Southside Virginia, Chesapeake Bay and Hampton Roads, the number of home sales has increased, indicating many real estate investors see now as a good time to buy and find values.

Visit VonCannonRealEstate or EstatesInVirginia.com to view property listings in Virginia. Or call 757-288-4685 to schedule some viewings.

Buying Real Estate: Building a Lifestyle

In the current real estate market, both buyers and sellers have different objectives then they did five years ago. Then, many homeowners bought with the intention to hold a property for one to three years and sell it for a profit or to gain equity for the next property purchase. After the real estate and mortgage market downturn, many areas of the U.S. were flooded with short sales and foreclosed properties -- so buyers can no longer rely on this fast equity. Nowadays, most real estate professionals are recommending that homebuyers plan to hold their property investment for a minimum of 10 years.

Homes for Sale are More Likely to Sell if They are Move in Ready
These days, the trend in home buying is for move in ready homes. Most buyers cannot take out home equity loans for property improvements. It is imperative the seller makes certain appliances, fixtures, flooring, kitchens and bathrooms are in good condition or recently renovated or replaced. Homebuyers are in a place to be choosy. If they want fixer uppers they can purchase foreclosures or distressed properties. Sellers serious about closing on their homes will make the necessary renovations even before putting the home on the market.

Homebuyers Want to Purchase Homes Near Shopping Districts
If the home purchase is intended as a primary residence for ten years, it needs to fit the lifestyle of the family or individual who owns it-- perfectly. Right now the most popular trend in real estate purchases is to live close to mass transit, shopping and entertainment. Many people want to walk in their own neighborhoods and have easy access to everything they enjoy: the gym, restaurants, bars, movies, and more. Neighborhoods and condominiums close to main shopping districts will be more desirable then other areas where driving is necessary.

I have worked with many homebuyers over the years. Generally, I break down lifestyles into three types of areas: rural, suburban and urban. I ask homebuyers I work with which of these lifestyles they desire. Then we work on identifying other specifics about the home such as: pools, garages, multiple bathrooms, square footage and more. The most important parameter in purchasing a home is location. Price range for home purchases sometimes limits choices to certain areas, but I have found we can usually work around this and still find the buyer a desirable location.

Here’s my breakdown of the three locations related to lifestyle choices for homebuyers:

Rural: Do you need a property with acreage?
Many rural homebuyers are used to this lifestyle. They often own horses or enjoy boating, gardening, hiking or other outdoor activities. Some of these buyers will be new to rural living and making a change in lifestyle. To many who choose the rural lifestyle, living near a small town or in one is best, because there are grocery stores, doctors, restaurants and businesses nearby. Rural buyers will want a certain amount of acreage and outbuildings for additional guests or activities. Some of the buyers who want to own rural property will be more inclined to ask about green built features in a home, or be willing to purchase green built homes.

Living in the Suburbs
Some families and couples want peace and quiet or they choose to raise their children outside of rural areas and big cities -- but still want to be close to a host of activities. So they choose suburban lifestyles. Many suburban developments and communities are close to a city or an interstate entrance. Subdivisions appeal to various lifestyles such as: golf communities, waterfront homes with docks or dock access for boating, homes near a historic area, houses close to a national park or public trails, or nearby a shopping district. Suburban lifestyles can be varied but many have the same themes running throughout. Families want to be close to school and churches and have plenty of green space in the backyard for leisure activities such as grilling, swimming, playing or just relaxing. Multiple bedrooms and bathrooms are required with plenty of square footage.

Choosing the Urban Lifestyle
Professionals, people who travel a great deal, and individuals with sophisticated tastes in cultural choices, dining and entertainment want to live in urban areas. Mass transit and airports are easily accessible. A choice of restaurants and leisure activities is literally at the doorstep. Urbanites live life on the go and do not want to be bogged down with yard work. Many urbanites will want to purchase a townhome or condominium that will include exterior maintenance. Some urban dwellers will want amenities such as pools, gyms and community rooms included as amenities to complement the condominium lifestyle. Many will want to be within walking distance of restaurants, markets and bars.

These three lifestyle choices are a matter of personal taste and preference. Since home ownership is now a decade long commitment, lifestyles need to be carefully considered prior to purchasing a home. I often tell homebuyers to project 10 years into the future. For example, will the homebuyer need a space for an aging parent? Or, will the homeowner need extra room for a child or grandchild who may have to move back in for a while? These lifestyle changes could weigh in heavily on the decision of which home to buy.

Plan ahead by carefully considering lifestyle in your home purchase.

For more information on different lifestyles, visit http://www.voncannonrealestate.com.