Archives: February 2016

107 Harris Court, Lake of the Woods, VA, Offered at $165,000-UNDER CONTRACT

Fantastic open floor plan home in excellent condition offers 3 bedrooms plus huge loft on level lot. Imagine your fun filled days at Lake of the Woods living an excellent lifestyle: jump in the pool, swim from the beach, play a round of golf, walk/jog the trails, take a trail ride from the stables, and savor a meal on the Clubhouse deck while taking in a spectacular sunset over the pristine lake!

 
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Until next timeIt’s another beautiful day at the lake!
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Take Advantage of These Homeowner Tax Breaks

 
 
a stack of coins gradually increasing in height
There are many benefits to owning a home: A home is an investment that can earn equity, is often cheaper to buy than to rent, and is your own place that you can fill with wonderful memories.
But another great benefit about owning a home is the financial benefits that you can take advantage of during tax season.

Major Tax Breaks for Homeowners

Owning a home, and eventually selling it, can offer you opportunities for deductions on your taxes, and we wanted to outline the major tax breaks for homeowners today. Are you taking advantage of these tax benefits?

Deduction for Mortgage Interest

In many cases, you can fully deduct the amount of your mortgage interest on your taxes. The IRS has a chart you can use to help determine if your mortgage interest is fully deductible.
mortgage interest credit is available for lower income homeowners for part of the home mortgage interest that they pay.

Credit for Energy-Efficient Home Improvements

Available until the end of this year, homeowners who have installed solar hot water heaters, solar electric systems, wind turbines, or qualifying energy-efficient home improvements can take a tax credit as part of the Residential Energy Efficient Property Credit.
The credit is for 30% of the cost for these energy-efficient home improvements.

Deduction for Property Taxes

In addition to deducting your mortgage interest, you can also deduct the annual taxes you pay on your home’s value, called real estate taxes.

Deduction for Capital Gains

calculator and financial worksheet for taxesIf you have used your home as your primary residence when you sell, you can exclude up to $250,000 in capital gains from the home sale on your taxes (or $500,000 if you are married filing jointly).
To learn what other tax benefits you may take advantage of, visit the Credits and Deductions page on the IRS website or read this MarketWatch article about other tax breaks for homeowners.

Let Us Help You Find the Perfect Home

If you have been considering buying a home in Lake of the Woods or elsewhere in the area and are ready to start your search, we can help you find the perfect home that falls within your budget and provide you with helpful real estate resources to make the journey to homeownership as smooth and enjoyable as possible.
Contact us today at 540/735-7998 and let’s talk about your goals for owning a home.
Until next time…It’s another beautiful day at the lake!
Pat Licata – Realtor

Broadway's Coming to Lake of the Woods!

By Pat Licata-REALTOR
yTkM8k5qcIf you are a lover of song and dance, why not audition for the Lake of the Woods Players? The next production, “HERE’S Broadway!,” will be performed on April 15, 16,22, and 23rd. Auditions are being held in the Community Center at 2 PM on February 27 and March 5 for singers and dancers, as well as for those who are interested only in the chorus.
What do you need to do to audition? For solo or dancing acts, bring two copies of the sheet music accompaniment from your selected Broadway favorite. For chorus only, just bring your great voice and spirit!
If you have any questions, check the website at LOWplayers.org or call Marion Pronk at 540/972-0808.
The Players’ productions are ALWAYS enjoyable, as there are so many talented Lake of the Woods’ members! Never been to a production? This is the perfect opportunity to experience your first, but buy your ticket as soon as they go on sale, as they do sell out fast!

Until next time…It’s another beautiful day at the lake!

LOW Residents: Survey Available on Third Gate

 
by Pat Licata-REALTOR
survey-clipart-canstock3495551A proposed third gate is a $480,000 budget item for FY2016, and LOWA wants feedback from members. This proposed gate will be placed near the compactor and will cross Route 3 at Rapidan Road (Section 16 of Lake of the Woods that offers 5 acre homesites).
Look for the survey on Monday, February 8th if you are a Constant Contact subscriber. You will have until Friday, February 12th, to submit your responses to 14 survey questions.
LOWA General Manager Phil Rosenberg will be presenting the FY2016 budget, which includes the third gate, to the Civic Club on Wednesday at 7pm in the lower level Clubhouse. You are welcome to attend and ask questions/share your opinion on this major expense.
If you haven’t yet subscribed to Constant Contact and would like to, here’s how: Log in to LOWA.org, click on “Member Central,” and click the link “Sign up here for Constant Contact emails from LOWA.” If you have difficulty, please email the Communications Department at mparmelee@LOWA.org.
If you know someone who’d like to participate in the survey but doesn’t have email, a paper copy may be obtained at Member Services in the lower level of the Holcomb Building.
Until next time..It’s another beautiful day at the lake!

Real Estate Stats for Lake of the Woods, VA-Jan 2016

Lake of the Woods, VA, Real Estate Stats for January 2016 By Pat Licata REALTOR®
houseforsale1In the month of January, a total of only 4 homes were sold. 3 were standard sale, 1 between $100-$175K, 1 between $250-350K, and 1 over $500K. There was 1 foreclosure in the $100-175K price range. There weren’t any short sales sold in January, and no lots sold either.
However, don’t let those low January real estate stats fool you. February is hot! Within the last two weeks, 4 of my listings have gone under contract, I just received an offer on another listing, and my team has written two offers for buyers. If you are thinking of selling in the not-so-distant future, check out this blog post for some tips to make it easier when the time is right for you: Tips for LOW Sellers
Here’s a link to real estate currently for sale in Lake of the Woods: LOW active listings
It’s another beautiful day at the lake!
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Tucker's "Misadventure!"

By Pat Licata-REALTOR

Tucker

Tucker is clearly “tuckered out” from his misadventure!


If you know anything about me, you know that I am an animal person. So I’m sure you can imagine how excited and proud I was to learn  that the Orange County Sheriff’s Office and Lake of the Woods Fire & Rescue were both involved in a heroic rescue of 12 year old yellow lab, Tucker! And my friend, Anita Walton, owner of Locust Grove Veterinary Clinic, and her staff treated Tucker after the rescue!
Tucker escaped from his home at around 6:30pm on February 1st, and his frolics landed him in the ice cold water of a frozen pond not far from Lake of the Woods off of Rapidan Hills Road. While we can only guess exactly how long he was stranded in the pond, chest deep, it was at least a few hours. Fortunately he was noticed, and that’s when our fine rescue crews sprung into action! With the assistance of Orange County Deputies Broyles and Cutone and firefighter Jeff Leibold, the dog was pulled from the pond by firefighter Aaron Lovell, who himself fell through the ice when pulling the lab to safety. The lab was then taken to Locust Grove Veterinary Clinic. After a short stay at the clinic, where Tucker received a well-needed “spa treatment package,” he was off to the Orange County Shelter for the night. His owners then retrieved him the following morning.
These caring actions of so many people involved to save the life of Tucker is just one of the many reasons why our community is so fantastic!
Until next time…It’s another beautiful day at the lake!

102 Broken Iron Court in Lake of the Woods, VA Offered at $215,000

102 Broken Iron Court in Lake of the Woods, VA Offered at $215,000 By Pat Licata REALTOR®
brokenironfront
Relax & enjoy the views of the 11th green from the main level deck, dining room, living room & 2nd story master bedroom deck! Expansive rooms & den/4th bedroom will wow you!Two sheds complete the package! Enjoy the Lake of the Woods lifestyle: jump in the pool, swim from the beach, trail ride from the stables, play a round of golf, savor a meal at the Clubhouse overlooking the lake & much more!
 
 
 
 
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