Archives: April 2020

*PRICE IMPROVEMENT* Unbelievable WATERFRONT Home in Lake of the Woods, VA! 118 Confederate Circle Offered at $649,900!

Imagine the memories you’ll make by getting your lake life started! If you are seeking a waterfront home that has it all, then this is it! Great water frontage and lake views, dock with boat and wave runner lifts, gorgeous landscaping, expansive deck, koi pond, and over sized windows are just a few features of this spectacular property. Relaxing on the deck or dock, fishing, kayaking, boating, or just taking in the views can be yours! Inside, you’ll love the generous sized rooms, open floor plan, loft with fireplace, conversation pit with fireplace, and theater room that will make entertaining a breeze. The impressive, massive master suite also boasts an attached office/sitting room/craft room, luxurious master bath and two generous walk in closets with amazing built ins. Enjoy cooking in the kitchen with Corian countertops perfectly situated in the center of the home. Begin making those memories now! For more information on 118 Confederate Circle, Click Here!

Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available Lake of the Woods properties, please visit our site.

Beautiful Home Backing Golf Course in Lake of the Woods, VA! 412 Birdie Road Offered at $319,900!

Welcome to 412 Birdie Road where you can enjoy relaxing on your front porch, covered deck which backs to the golf course or spending time in your yard. You will be delighted with the open floor plan and split bedroom design. The kitchen is spacious with plenty of counter and cabinet space. The living room is light filled with a gas fireplace to keep you cozy on the cool nights. You will love the master suite being spacious with the walk in closet and the master bath with double vanity and soaking tub. That’s not all… lower level is unfinished, already framed and ready for you to put your final touches. You already have the pool table that conveys to get started. For more information on 412 Birdie Road, Click Here!

Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available Lake of the Woods properties, please visit our site.

Picturesque Home With Beautiful Kitchen in Lake of the Woods, VA! 107 Chesterfield Court Now SOLD!

You will be in awe of this beautiful home on 107 Chesterfield! Pride of ownership shows through and through. All through this home there are updates and fine touches. The kitchen has granite counter tops, upgraded stainless steel appliances and plenty of counter and cabinet space. Enjoy holiday and family meals in the formal dining room with access to the deck and beautiful views of the backyard and golf course. A living room that delights with a floor to ceiling brick fireplace perfect for those cool nights and is full of natural light. The master suite is spacious with access to the deck and a completely updated master bathroom with new vanity and tiled shower. Two more bedrooms and a beautifully updated hall bath finish the main level. That’s not all…. the lower level is fully finished with an amazing family room with a floor to ceiling brick fireplace, a bedroom and the third full bath. Plus an extra large utility room with laundry room and extra storage. Relax with your favorite beverage, listen to the birds sing, enjoy the beautiful tree lined yard with views of the golf course from your deck. For more information on 107 Chesterfield Court, Click Here!

Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available Lake of the Woods properties, please visit our site.

Luxurious Home With Brick Architecture in Lake of the Woods, VA! 103 Riverdale Lane Now UNDER CONTRACT!!

You will be thrilled with the water views, brick architecture, and detail of the wrap around porch that welcomes you to 103 Riverdale Lane! This beautiful home is located near the front gate and steps away from the marina. The openness of the floor plan with tall ceilings, skylights and gorgeous flooring will wow you. The kitchen is delightful with upgraded stainless steel appliances and open to the living room to make spending time with family or entertaining a breeze. The master suite is complete with en suite bath and walk in closet. Enjoy relaxing on the screened porch after a long day with your favorite beverage. In addition the flat yard that would be perfect for flower gardens and evenings around the fire pit! For more information on 103 Riverdale Lane, Click Here!

Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available Lake of the Woods properties, please visit our site.

Four Biggest Questions Regarding Coronavirus and the Housing Market Part 2 of 4

As we continue to look for answers to some of the biggest questions surrounding this crisis, we start to wonder what kind of effect the stock market has on the housing market, and how much of an impact we will see as a result. We begin by asking ourselves; When the stock market goes down as quickly has it has been, does it have a tremendous effect on home prices?

Often the best answers to questions is another question itself, and in this case, we look to the last crisis that occurred; being the crash of 2008.  So, we ask, will this be just like 2008?

To help answer this, we take a look at the graph provided above which shows the crash of 2008, to the S&P Correction of the same time. The graph illustrates the S&P Correction at 51% during that time, and the Annual Home Price Deprecation that occurred just under 20%.

In a quote by David Rosenberg, he explains that what we are experiencing now has more in common with what we experienced in 2001 (9/11) than with 2008.

“What 9/11 has in common with what is happening today is that this shock has also generated fear, angst, and anxiety among the general public. People avoided crowds then as they believed another terrorist attack was coming and are acting the same today to avoid getting sick. The same parts of the economy are under pressure – airlines, leisure, hospitality, restaurants, entertainment – consumer discretionary services in general.” – David Rosenberg, Gluskin Sheff + Associates Inc.’s Chief Economist.

When breaking down what was said by Mr. Rosenberg, we can see that this event lines up more with how we acted when 9/11 occurred. To help better illustrate this comparison, we will look at the graph below similarly as we did for 2008, but instead observe what occurred with 9/11 as well as the Dot.com crash.

Here we can see that the S&P Correction was at 45%, however cumulatively over the same time, Housing Price Appreciation was up almost 24%. This shows that housing reacted very differently during 9/11 and the Dot.com crash compared to how it reacted in 2008. This visual helps make the case that it’s not unreasonable to say that if what we’re experiencing right now is a lot more like 9/11 and not 2008,  than the housing market will react a lot more like it did during 9/11 and the Dot.com crash than it did in 2008. Annual Home Price Appreciation reacted very well, and based of off what’s occurred so far, we can make the argument that we are seeing similar situations now.

When this year (2020) began, the housing market was off to a tremendous start, with home sale reports showing the highest number of houses sold within the last 13 years, on an annual basis. While a bit of a slowdown has occurred due to the events going on, we can say that when this is all over, and it will be, we can expect the market to come roaring back and continue that trend that started the year off.

Four Biggest Questions Regarding Coronavirus and the Housing Market Part 1 of 4

In these recent times of uncertainty, you may find yourself asking how the Novel Coronavirus has impacted the housing market, and what changes you can expect to see. We are here to give you some insight by answering four of the biggest questions in this four-part blog involving what has happened to the housing market, and what we can expect to see in the months and years to come. Now more than ever it’s important to stay informed on what’s occuring in the county, and we hope this series will provide you with the necessary information that you need.

The first biggest question you may be asking yourself, is what are people doing with their money, and what does it mean for housing?

To start off, it’s important to look at the relationship between the 30-year mortgage rate and 10-year treasury rate. For almost 50 years, the two rates have moved in unison with one another, with the 10-year treasury rate often being used to predict the foreseen mortgage rate.

As seen in the graph above, the two have held a symbiotic relationship of the past several decades. What you may now notice, is that this relationship has recently changed. This change can be attributed to several other factors such as money coming out of the stock market and into bonds. While treasury rates have seen a recent decline, mortgage rates have not followed in the same trend. In fact, what we are seeing right now is volatility in the market as pricing is going back and forth intraday.

In a quote from First American, “As evidenced by recent events, often the spread increases because mortgage refinance application processing capacity cannot meet demand, so lender-offered rates don’t follow the Treasury yield down one for one. So, while the mortgage rate has declined in response to the decline in yields, it is unlikely to fall by the same magnitude as the Treasury yield…

It is plausible that mortgage rates fall further if the benchmark 10-year Treasury bonds yield decline further…

It’s reasonable to expect that rates will fall even further and likely surpass the prior record low, but not necessarily one-for-one with the 10-year Treasury yield.” – Odeta Kushi, Deputy Chief Economist, First American.

In the graph below, we can look at the rate environment over the last year to better illustrate the flow of the 30-year mortgage rate going forward.

With all the volatility we’re seeing in the market right now being different than we’ve ever seen, we should look to the 10-year treasury as a way to judge what to expect in the future.

Captivating Home With Stone Accents in Lake of the Woods, VA! 512 Monticello Circle Now UNDER CONTRACT!!

The stone accents and private lot welcome you to 512 Monticello Circle! Once inside you are wowed by the gleaming hardwood floors and the openness of this amazing home. Perfect for entertaining with the open flow from the upgraded spectacular kitchen with corian counter tops, large island and stainless steel appliances to the family room with vaulted ceilings, floor to ceiling stone fireplace for those cool nights, to the screened porch and wraparound deck. The master suite is spacious and you will be delighted with the master bath, luxurious spa retreat to melt away the stresses of the day. Finish off the main level with 2 more bedrooms and another full bath. Wait…… there’s more the loft upstairs is open to the family room, has a fourth bedroom, another full bath and flex space that could be an office or a play room or whatever you create. A beautiful home that shows pride of ownership throughout! For more information on 512 Monticello Circle, Click Here!

Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available Lake of the Woods properties, please visit our site.

Picturesque WATERFRONT Home in Lake of the Woods, VA! 220 Mt Pleasant Drive Now UNDER CONTRACT!!

Welcome to the waterfront lifestyle that 220 Mt. Pleasant delivers. If expansive views and deep water are what you crave, then you will fall in love! Relax and soak in the sun or entertain on your own deck or dock! Bring your boat and all your water toys! The home, located near the front gate, boasts amazing square footage, an open floor plan, a great room with floor to ceiling brick fireplace, gorgeous large windows that boast captivating views of the lake in all seasons! The master suite, which provides deck access along with the great room, is complimented by an attached master bath and walk in closet! The main level also offers 2 additional bedrooms and another full bath. The lower level consists of a huge family room with a wood stove, built in cabinets, and another bedroom and full bath. That’s not all…there is another flex room ideal for overflow guests that can be converted to a bedroom with ease!! Combine all of these features with plenty of storage space and a two car garage, and you’ve found your perfect place at the lake! Just imagine the memories you will make at this awesome waterfront home! For more information on 220 Mt Pleasant Drive, Click Here!

Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available Lake of the Woods properties, please visit our site.

Gorgeous Home with Cathedral Ceilings in Lake of the Woods, VA! 2602 Lakeview Pkwy Now SOLD!

Welcome to 2602 Lakeview Parkway, where if space is what you crave, you are at the perfect home! An amazing great room with cathedral ceilings and gorgeous wood floors delight. The kitchen is the heart of this home with stainless steel appliances, an island ready for your bar stools, and ample counter and cabinet space. Entertaining will be a breeze with the great room and family room both being off the kitchen. You will love your master suite, especially the jetted walk in tub, separate shower, and his and her vanities. The home is completed with 3 additional bedrooms and 2 additional bathrooms. Relax with your favorite beverage on your screened porch as your enjoy the serenity that surrounds you! For more information about 2602 Lakeview Pkwy, Click Here!

Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available Lake of the Woods properties, please visit our site.

Picture-Perfect Home Near Marina in Lake of the Woods! 236 Washington Street Now UNDER CONTRACT!!

Welcome to 236 Washington Street, perfectly situated near the small marina. This beautiful home will delight you with gleaming hardwood floors that greet you at the door and continue throughout. Enjoy cooking in your upgraded kitchen with granite counter tops and ample cabinet space. You’ll love the light cascading through the windows for such a bright and airy feel. In the generous-sized living room, you’re greeted by the floor to ceiling brick fireplace to warm those chilly nights. The flex/office space that will make working from home or crafting a breeze. The inviting master suite provides an en suite bathroom with double vanity and walk in closet. But wait…there’s more! Enjoy dinner or relaxing in the gorgeous sunroom as you take in the serenity that surrounds you! For more information about 236 Washington Street, Click Here!

Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available Lake of the Woods properties, please visit our site.