Welcome to 10201 N Hampton Lane! You will be wow’d from the moment you pull up! So much curb appeal and beautiful gardens and hardscapes. Once inside, you are welcomed by beautiful flooring, soaring ceilings and pride of ownership. That’s only the beginning…your gourmet kitchen has everything you could want, upgrades include gorgeous cabinetry, stainless steel appliances and will make cooking and entertaining a breeze. The family room will delight with soaring ceilings, skylights, and a gas fireplace for those cold winter nights. Elegant and spacious describe the owner’s suite with fine finishes, cathedral ceilings and an en-suite bathroom with an oversized beautifully tiled shower, refined vanity, and full of natural light. Three more bedrooms and another full bath complete the upper level. As incredible as the inside is, the trend continues to the private, landscaped backyard oasis. Enjoy entertaining family and friends on your gorgeous maintenance-free deck overlooking trees, lush yard, and flower gardens!
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 homeowners. 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.
With home prices continuing to deliver double-digit increases, some are concerned we’re in a housing bubble like the one in 2006. However, a closer look at the market data indicates this is nothing like 2006 for three major reasons.
1. The housing market isn’t driven by risky mortgage loans.
Back in 2006, nearly everyone could qualify for a loan. The Mortgage Credit Availability Index (MCAI) from the Mortgage Bankers’ Association is an indicator of the availability of mortgage money. The higher the index, the easier it is to obtain a mortgage. The MCAI more than doubled from 2004 (378) to 2006 (869). Today, the index stands at 130. As an example of the difference between today and 2006, let’s look at the volume of mortgages that originated when a buyer had less than a 620 credit score.
Dr. Frank Nothaft, Chief Economist for CoreLogic, reiterates this point:
“There are marked differences in today’s run up in prices compared to 2005, which was a bubble fueled by risky loans and lenient underwriting. Today, loans with high-risk features are absent and mortgage underwriting is prudent.”
2. Homeowners aren’t using their homes as ATMs this time.
During the housing bubble, as prices skyrocketed, people were refinancing their homes and pulling out large sums of cash. As prices began to fall, that caused many to spiral into a negative equity situation (where their mortgage was higher than the value of the house).
Today, homeowners are letting their equity build. Tappable equity is the amount available for homeowners to access before hitting a maximum 80% combined loan-to-value ratio (thus still leaving them with at least 20% equity). In 2006, that number was $4.6 billion. Today, that number stands at over $8 billion.
Yet, the percentage of cash-out refinances (where the homeowner takes out at least 5% more than their original mortgage amount) is half of what it was in 2006.
3. This time, it’s simply a matter of supply and demand.
FOMO (the Fear Of Missing Out) dominated the housing market leading up to the 2006 housing bubble and drove up buyer demand. Back then, housing supply more than kept up as many homeowners put their houses on the market, as evidenced by the over seven months’ supply of existing housing inventory available for sale in 2006. Today, that number is barely two months.
Builders also overbuilt during the bubble but pulled back significantly over the next decade. Sam Khater, VP and Chief Economist, Economic & Housing Research at Freddie Mac, explains that pullback is the major factor in the lack of available inventory today:
“The main driver of the housing shortfall has been the long-term decline in the construction of single-family homes.”
Here’s a chart that quantifies Khater’s remarks:
Today, there are simply not enough homes to keep up with current demand.
Bottom Line
This market is nothing like the run-up to 2006. Bill McBride, the author of the prestigious Calculated Risk blog, predicted the last housing bubble and crash. This is what he has to say about today’s housing market:
“It’s not clear at all to me that things are going to slow down significantly in the near future. In 2005, I had a strong sense that the hot market would turn and that, when it turned, things would get very ugly. Today, I don’t have that sense at all, because all of the fundamentals are there. Demand will be high for a while because Millennials need houses. Prices will keep rising for a while because inventory is so low.”
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 homeowners. 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.
July 23 through July 25th, Liberty Mills Farm is hosting a Blooms and Butterflies event! Friday, July 23rd & Saturday, July 24th from 10AM – 3PM. Sunday, July 25th from 11AM – 3PM.
The featured butterflies species showcased are Painted Ladies. They are ordered and delivered to the farm from a small butterfly farm in Massachusetts called Butterflies and Blueberries. Did you know, they are the most widely distributed butterfly in the world? Painted Lady adult butterflies can cover up to 100 miles per day and reach speeds of nearly 30 miles per hour! Butterflies will be available to purchase to release yourself for $10 per butterfly.
Additional activities will include you-pick flowers (the pre-sale price of $25 each), giant zinnias, cosmos, music, a hayride, a farm market, and so much more!
Don’t fear going hungry on Saturday and Sunday, the Firefly on the Fly food truck will be at the farm to support all hungry bellies.
Tickets for this event will be $8 per adult and $6 per child. No tickets are needed for children ages 4 and under. Tickets and additional information about this event can be found 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 homeowners. 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.
The Lake of the Woods Adaptive Watersports Foundation is back and ready to host the SmileS Adaptive Carnival!
This Carnival brings water sports to people with disabilities of all ages and walks of life, as well as their families. The Carnival is held in honor of 2 highly honored women who left this world too young. What sports will be featured? There will be adaptive waterskiing, tubing, pontoon rides, kayaking, paddleboarding, and additional fun outdoor games! This year, LOW is partnering with Therapeutic Adventures – IndependencePlus Adaptive Sports to bring adaptive paddling!
This event is to take place on Sunday, August 1st at 9AM at the Lake of the Woods Clubhouse Point (102 Lake of the Woods Way, Locust Grove, VA 22508).
What a great day in the community to bring your friends and family to participate or cheer on! All attendees MUST pre-register, and they will NOT allow registration/sign-up at the door. All activities are FREE. Pre-register here.
Note: all activities are open to participants and their friends and families, however, participates will have priority for adaptive water skiing. For more information, visit 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 homeowners. 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.
Learn more about 421 Harrison, here and learn more about 107 Fairway Drive, here!
See you Saturday!
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 homeowners. 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.
New construction homes can have hidden costs, which is why you have to pay attention to the details when deciding on a new build.
When touring model homes, always ask the builder about what’s standard and what’s considered an upgraded feature with additional costs.
Buy on your terms and work with our team to navigate the ins and outs of purchasing the new construction home of your dreams!
Don’t Mistake “New Construction” with “All-Inclusive”
There are many advantages of buying a new construction home—low-maintenance living, brand-new appliances, and minimal repair costs are just a few. Plus, a new build provides a blank slate for buyers to begin making sweet new memories!
While buyers should be excited about all these benefits, they should also be aware of the potential hidden costs associated with purchasing a new build. We’re here to ensure you know exactly what is included in the overall cost of your new construction home.
Protect yourself before there’s a problem
Just like an existing home, a brand-new home can have hidden issues that could require repairs. Something as simple as inadequate plumbing or roofing could result in sizable amounts of damage—this is why you have to protect yourself by being proactive in the home-buying process. All builders have their own nuances, which is why you should take the time to research different options before deciding on the right one. If you want some tried and true recommendations, your agent can provide valuable insight. Every home, including new builds, should be checked by an independent home inspector who isn’t affiliated with the builder.
Before you commit to purchasing a new build, make sure to read the fine print of the home warranty. You may have to rely on your warranty if any issues arise that aren’t covered by your homeowners’ insurance policy. And remember, not every warranty is the same, so it’s important to determine exactly what your warranty covers and the length of the coverage.
Stay true to your non-negotiables
Newly-built homes aren’t guaranteed to include all the necessities, so you need to know what to expect from a standard model. It’s quite common for new builds to come without certain interior items, such as appliances and window treatments, plus exterior fencing and landscaping.
Before you make an offer, talk to your builder with your agent present and ask about the features included in your future home. Everything from drawer handles to light fixtures could cost extra, so be sure to compile a list of non-negotiables to budget for things you can’t live without.
Don’t be duped by the mesmerizing model home
The model homes you’ll tour often have all the available upgrades the builder offers—we’re talking gourmet kitchens with granite countertops and open-concept floor plans with beautiful hardwood flooring. However, these top-level features could cost you thousands of dollars more than the builder’s grade basics.
You can work with your agent to figure out which features are included in the standard model’s base price. Be sure to focus on what originally made you fall in love with the property, not all the bells and whistles you see in the showy model. When contemplating which upgrades are worth the cost, think about the home’s future resale value—will the upgrades increase your return on investment and appeal to a variety of buyers? This is a prime opportunity to lean on your agent’s expertise to determine which upgrades will add the most value to your home.
Ready to Buy a New Build?
When you buy a new construction home, you always want to have a trusted real estate agent by your side. Remember, the builder’s sales agent has the builder’s best interest in mind—not yours. We have the new construction experience needed to guide you through the negotiation process and make sure you’re getting your money’s worth. Contact us to learn more about new construction properties in the area, and we’ll get the ball rolling on buying your new home today!
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 homeowners. 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.
Welcome to 107 Fairway Drive! This lovely home is located close to the main gate and overlooking the 18th green. As you enter, you are greeted by the family room, boasting a fireplace for those chilly nights. A light-filled kitchen with ample cabinet and counter space awaits. Additional living space with the sunroom has so many possibilities. The owner’s suite with an en-suite bath is sure to please with private access to the deck which is perfect for relaxing and enjoying your backyard oasis and views of the golf course. If you’re in the mood for a great breakfast or lunch, Fareways Cafe is just a few steps away, as well as the Golf Pro Shop.
A private, gated, secured community, Lake of the Woods offers anything and everything you could possibly want. Home to two lakes (the 550-acre main lake and a 35-acre “fishing lake”), a golf course, an equestrian center, a fire and rescue department, and a church all within the gates, Lake of the Woods simply has it all. Whether your passion is boating, water skiing, kayaking, golfing, horseback riding, or simply taking in the breathtaking views from the clubhouse while enjoying a fabulous meal, from your own deck or yard, or from one of the beaches, you won’t be disappointed! Perhaps you’d like a game of bridge or volunteering your time and talents…Lake of the Woods offers more than 60 clubs and/or organizations from which you may choose to become involved. Located in Orange County, we are fortunate to enjoy low real estate taxes. Coupled with home prices ranging from $150,000+ to over $2,000,000, Lake of the Woods is the perfect community for both full-time residents, as well as weekenders. But don’t take my word for it, please come see for yourself! I will gladly give you a tour of Lake of the Woods by boat and by car so that you may experience why I love Lake of the Woods!
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 homeowners. 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.
Welcome to 421 Harrison Circle! This amazing, custom-built home nestled in the trees is move-in ready and will delight from the moment you arrive. You will love your peek of the lake and location so close to the beaches and back gate. Once you enter, you are welcomed by a great room with a cornerstone gas fireplace and soaring ceilings. The kitchen boasts plenty of counter space to spread out, as well as a breakfast bar and a dining area! The sitting room off the kitchen will be one of your favorite areas with access to the screened porch. When it comes to entertaining family and friends, the formal dining room and flow of the main living areas are sure to please. The inviting owner’s suite is spacious, and the en-suite bathroom offers a double vanity, soaking tub with jets. Two additional bedrooms, full bath, and a laundry room complete the main level. Enjoy your favorite beverage, read a book, or take in the sounds of nature from the screened porch.
A private, gated, secured community, Lake of the Woods offers anything and everything you could possibly want. Home to two lakes (the 550-acre main lake and a 35-acre “fishing lake”), a golf course, an equestrian center, a fire and rescue department, and a church all within the gates, Lake of the Woods simply has it all. Whether your passion is boating, water skiing, kayaking, golfing, horseback riding, or simply taking in the breathtaking views from the clubhouse while enjoying a fabulous meal, from your own deck or yard, or from one of the beaches, you won’t be disappointed! Perhaps you’d like a game of bridge or volunteering your time and talents…Lake of the Woods offers more than 60 clubs and/or organizations from which you may choose to become involved. Located in Orange County, we are fortunate to enjoy low real estate taxes. Coupled with home prices ranging from $200,000+ to over $2,000,000, Lake of the Woods is the perfect community for both full-time residents, as well as weekenders. But don’t take my word for it, please come see for yourself! I will gladly give you a tour of Lake of the Woods by boat and by car so that you may experience why I love Lake of the Woods!
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 homeowners. 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.
In June, 40 homes sold in Lake of the Woods. 1 sold between $130-199,999; 4 sold between $200-249,999; 3 sold between $250,000-299,999; 7 sold between $300-349,999; 10 sold between $350,000-399,999; 8 sold between $400-499,999; 2 homes sold over $500,000.; 2 home sold over $600,000; 1 home sold over $800,000; 2 homes sold over $900,000!
28 Active Listings for Sale 22 Homes Under Contract 186 Homes Sold since January 1, 2021.
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 homeowners. 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
School starts August 11, 2021, this year and the LOW Lioness Lions Club is holding its annual School Supply Drive to support the Locust Grove Primary & Elementary Schools. They help these 2 schools by providing the necessary supplies to ensure a successful school year for the teachers and students alike.
Donations will be collected at the Lake of the Woods FRONT GATE on July 10th and July 24th from 9AM to 1PM ORyou may bring your donations in Monday – Friday July 12th through July 23rd from 9AM – 5PM at our Licata Group Office (located in the Food Lion shopping center, between AT&T and CVS)OR you may donate a check for the Lionesses to purchase the items listed in the first flyer. Please make checks payable to: “LOW LIONESS FOUNDATION” and write “SCHOOL SUPPLY” in the check memo section. Please MAIL those checks to: PO BOX 811, Locust Grove VA 22508.
We love supporting great causes and if you choose to drop your donations off at the Licata Group office: you have the opportunity to enter to win TWO tickets to the FREDERICKSBURG NATIONALS game on July 31st. The winner will be drawn & announced on our Licata Group Facebook page during LicataLive at 11AM on Tuesday, July 27th!
For any additional questions regarding the SCHOOL SUPPLY DRIVE, itself please contact Teresa Wisniewski at 703-901-9023 or Judy Ludvigsen at 540-760-4982. For questions about the LICATA GROUP FREDNATS TICKETS, contact the Licata Group office at 540-388-2541.
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 homeowners. 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.
