This is the big one! The 3 bedrooms, 3 levels, and 2.5 bathrooms make this the largest model unit in the Ridges at Belmont Country Club. This home features a garage, a long driveway for 2 extra cars, as well as a ground-level patio, and a 2nd-floor balcony making this one of the most desirable homes in the community. The main level has hardwood flooring throughout, while the eat-in kitchen consists of larger cabinets providing tons of storage, stainless appliances, and, granite countertops. The primary bedroom suite is on the lower level and provides enough space for a corner office and leads out to a private patio and storage. The second level has 2 ample-sized bedrooms providing great natural light from both ends of the home. The Club Corp, Belmont Country Club offers golf, parks, trails, a pool & more. With your membership, you have access to other Club Corp facilities throughout the US and internationally. The DC City club and the Tower Club in Tysons Corner are great business clubs with restaurants that you can use as well. Great Loudoun schools are within walking distance of Belmont Chase, which features Whole Foods and numerous restaurants. The W&OD Trail for jogging and biking, and One Loudoun with a movie theater, Trader Joe’s, and more restaurants, within a 5-minute commute. You are in the center of everything and can get anywhere fast using major commuter routes, Dulles Airport, or the metro silver line. Monthly fees include cable/internet, phone, water & lawn care.
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 contacting Pat Licata.
To see available Lake of the Woods properties, please visit our site.
Even if you locate a condo that precisely suits your budget and meets your requirements, there is sometimes a lingering sense of insecurity that will make you wonder if that condo is really “the one”. Believe it or not, you’re not alone as this is quite common and with good cause. After all, you don’t want to make a costly error while purchasing a condo, especially if you’re a first-time homebuyer. It’s not only your biggest financial investment, but you’ll be living in it for years. That’s why it’s important to recognize signs you’ve found your perfect condo. Further in this post, you’ll find out what you should pay attention to when shopping for your new condo.
Clear signs that say you’ve found the perfect condo
As you undoubtedly know, finding “the one” is difficult, especially when you’re in the process of buying a home. Studio or one-bedroom apartment? Modern finishes or natural light? Hardwood or tile floors?
Your real estate agent will present you with many great options, and you’ll avoid feeling overwhelmed if you know what signs to pay attention to.
Finding the condo of your dreams might be difficult with so many options available. Fortunately, there are a few telltale signals that you’ve located your perfect condo. Continue reading, and you might realize that you have already found “the one.”
It gives out a homey feel
The first thing to pay attention to when looking for a condo is the way it makes you feel. You want to find a place you feel comfortable and homey, especially if you’re moving to a new hometown and didn’t get a chance to familiarize yourself with the place. Spending time in a new condo that already feels like home will make this transition easier for you.
The proper condo will entice you in and make you feel at ease. It will instantly make you want to relax in the living room or have a conversation with your real estate agent in the dining room. Going into the bathroom is not at all weird. Indeed, you may have caught yourself opening cabinets or admiring the room. The condo simply feels comfortable and homey. Could this be the right one?
It fits your budget perfectly
No condo is right for you unless it perfectly fits your budget. So when considering which condos to take a look at in person, start by reviewing your budget and knowing how much you can afford. It doesn’t make sense to invest in an expensive home with all the latest amenities if you can’t afford it. It simply doesn’t fit your lifestyle.
To avoid disappointments, scratch off any alternatives on your list that are way out of your price range, as none of those will be the right condo for you.
Don’t be disheartened if you happen to find a gorgeous place that’s just over your budget that you simply adore. You still have a few choices. For starters, see if you can work out a better price. Or decide to decorate on a budget and invest in cheaper furniture. You might be able to cozy up the place easily while staying within your budget.
The condo sets the bar for all other condos
When you find the perfect condo, you’ll realize that you keep returning to it throughout your search. You go to one open home and admire the living room and kitchen design, but you notice that the layout isn’t as excellent as the one you saw earlier. That condo set “the standard.”
It’s in a perfect location
If you’ve found a condo in a fantastic location that perfectly suits your lifestyle, it could be that you’ve found “the one.” If you’re a homebody who enjoys peace and quiet, for example, you’ll probably prefer to look for apartments in more suburban locations.
On the other hand, if you prefer to be in the thick of things, a thriving downtown neighborhood can be right up your alley. For the added convenience of having restaurants and entertainment within walking distance, you might be ready to compromise on things like assigned parking or square footage. So if you feel like you’ve found an ideal location, perhaps you‘ll overlook minor flaws and realize that you’ve found your perfect condo.
Your perfect condo is just the right size
The most amazing condos aren’t always what you need right now in your life and don’t always fit your lifestyle. It’s easy to get caught up in the thrill of discovering the perfect apartment in the nicest neighborhood, but don’t forget about the space.
On the other hand, if you found a condo that’s just the right size and with a great layout, it might be worth sacrificing and moving to a slightly less desirable location. It can be tough to find a condo that ticks all of your boxes. So if you’ve found a place with the right size and within your budget, don’t think twice about it.
It simply feels right
Sometimes, you simply know that something is right for you. If a condo appeals to you right away, it’s an indication that it might be the right one for you. Try to imagine yourself living your daily life in that place. Is everything going to work out, or will you have to make some adjustments to your daily routine?
When you find the right condo, your gut will make sure to send you a sign.
If just the thought of living there makes you happy and your life seems easier, it’s probably the one. However, don’t let love blind you to the price tag. Remember, it’s critical to ensure that your new home fits into your budget in the long run.
Pay attention to these signs, and you’ll know you’ve found your perfect condo!
And that’s it—it all comes down to listening to your gut and paying attention to those subtle signs. Of course, the safest way to go is to get in touch with an experienced Realtor® who’ll guide you on your real estate journey and make sure you’ve found your perfect condo.
Meta description:
Buying property is a significant investment, and you want to be sure you have found the right one. Read on for signs you’ve found your perfect condo.
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.
Oil and gas prices are the highest in United States history!
Individuals and families are shifting how they think about housing, from suburban versus urban to downsizing or going multigenerational.
It’s critical to work with an agent who understands the right fit for you and your family.
Record-high oil and gas prices are changing home buying and selling
It’s difficult to escape the news: gas prices are surging across the nation, with the increase averaging $1 per gallon. With costs at historical highs, the ripple effect changes how we think about everything. That includes the largest line item on any household’s budget: their home. How will this new reality change how people buy and sell real estate? Let’s take a look at some of the main considerations.
Urban Versus Suburban
Traditional wisdom says that the suburbs are more affordable with their long commutes, while cities are expensive due to more amenities and desirability. But when the daily commute costs more than it ever has in the history of the country, the conventional advice isn’t necessarily the right move for everyone.
To judge whether relocating from the suburban to the urban is right for you, take a look at the commute time, proximity of local amenities, and public transportation. Some urban centers offer more robust and reliable options for getting around, while others are still heavily car-dependent. If moving into the city won’t get you out of your car, the suburbs are still a good choice. But big city living is an attractive option if you can reduce how often your family drives—or even go from a multi-car family to a single vehicle.
Reconsider Your Housing Footprint
The size of a home is always a big consideration when you’re looking at your next place. Right now, there’s the added pressure of the costs of heating and cooling a home to consider when you think about total square footage. On average, the cost of natural gas is up 24% in February 2022 compared to the previous year, and electricity is up 9%.
Downsizing can be a smart reason to sell your home and buy a new one, especially if your family situation has changed and you don’t need as much space. With less to heat, cool, and maintain, finding a home that’s just the right size for the stage of life you’re in is something your agent can help you with.
During the COVID-19 pandemic, families started moving back in together at rising rates. Now, more than 40% of homebuyers consider multigenerational living in their purchasing decision. New developments are dedicated to building homes and communities that accommodate people at different stages of their lives. And, if the family situation changes, being able to rent out a dedicated space is an excellent source of passive income.
Whether you’re looking to go small by yourself or go big and share the costs, homes that are renovated with energy-efficient appliances, or new construction with the latest smart home technologies, are especially attractive. These are smart decisions to make now that will also save you costs in the long run, even when oil and gas prices stabilize.
Act Fast to Lock in Interest Rates
Gas prices are tied closely to mortgage rates. Yep, it really does affect everything! Mortgage lenders want to have an extra cushion over inflation when they set rates, and with the rise of oil and gas prices, interest rates will get pushed up too. If you’re buying a home, it’s time to get serious about making offers. Higher mortgage rates will impact what you can afford.
For sellers, this can impact the white-hot housing market streak that was the dominant theme for the last few years. With interest rates set to rise, home sellers may want to be flexible about offers, in case the market shifts dramatically as interest rates go up throughout the remainder of the year. Of course, this varies widely by market, and you’ll want to consult your agent before making any decisions on offers on your home.
Make Your Move
There’s no time to wait—with the market changing this rapidly, you’ll want to leave yourself enough time to have options and make a well-informed decision. That’s why you need to work with an agent that understands the ups and downs of this historic market and considers the needs of you and your family. Contact us today to get started!
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 today’s hot market, it’s more important than ever to choose the right agent to help you buy or sell a home.
Real estate agents don’t just offer local expertise—their insider knowledge and marketing prowess come in handy, too.
Thinking about making a move in the new year? Contact us to start planning now!
Here Are the Top 10 Qualities Every Successful Real Estate Agent Should Have
Did you know that 75% of buyers and sellers work with the first agent they meet? It’s true—but that doesn’t mean it’s the best decision. If you want to come out on top in today’s competitive market, experts often recommend interviewing a few candidates before settling on the right real estate professional for the job. And if you’re not sure where to start, we’ve outlined 10 qualities of a highly successful agent.
They keep up with the latest sold data
Whether you’re buying or selling a home, you’ll want to keep up with the latest sold data for your neighborhood of choice. Sold data reports consist of homes that recently sold in your area, as well as their final prices. Not only do these numbers help sellers determine an accurate list price, but they can also be used by buyers to gauge an area’s affordability. A top-notch agent should be willing to provide you with up-to-date data every step of the way.
They know what’s happening in the real estate market
It’s hard to know what the real estate market will look like next year. But with careful forecasting, a local agent should be able to provide some valuable insight. Agents can educate buyers and sellers on everything from price fluctuations to mortgage rates—just make sure they’re using accurate data to back up their predictions.
They’re social media savvy
Nowadays, home-buying and selling primarily happens on the internet. According to recent research, over 95% of buyers start searching for properties online, which makes it imperative that agents maintain an active presence on their social platforms. Be sure to ask your agent about the virtual tools they offer buyers and sellers, such as access to the MLS, social media promotion, and paid advertising. Bonus points if they have their own website, too!
They have a network of contacts
When it comes to buying or selling a home, it truly takes a village. A well-connected agent can refer you to their network of local contacts, such as plumbers, landscapers, lawyers, and so much more. You’ll rest easy knowing that you can trust their recommendations for local service providers!
Their referrals are positive
If an agent provides legendary customer service, their past clients are more than willing to leave positive feedback—or even refer them to their loved ones! Ask your potential agent about their reviews, or take a look online to see what previous buyers and sellers have to say about working with them.
They’re punctual
This one should be a given! The current real estate market moves faster than ever before, which makes punctuality an even more important quality than usual. If your agent is on-time (or early!) to your appointments, you’ll know they’re treating you like a priority.
It’s easy to get in touch
Keeping in touch is key when it comes to real estate, so you’ll want to share the same method of communication as your agent. Tell your agent from the beginning whether you prefer to text, email, or talk on the phone. Not responding in a timely manner is a big red flag.
They’re shrewd negotiators
Buyers and sellers alike should look for an agent with top-notch negotiation skills to get them the best possible price. And if you want to evaluate a real estate agent’s prowess, just ask yourself this question: how well did they negotiate with you to win your business?
They’ve built their own brand
Real estate agents don’t just help you buy or sell a home—they need to be expert marketers on both sides of the transaction. Solid branding can help agents rise to the top of the competition and build a reputation that people rely on, trust, and recognize. Exploring an agent’s social media and website can give you a good idea of their personal branding strategies.
You get along with them
When you’re trusting someone with one of your biggest investments, it’s crucial to get along on both a professional and personal level. If you can’t have difficult conversations with your agent—or if you don’t get along with them—consider going with another candidate. Personality can sometimes trump experience!
Find the Right Agent for Your Move
Ready to start planning your 2022 move? Now is the time to find the perfect agent for the job! Contact us today to learn more about what we bring to the table, or explore our other resources to get a head start on buying or selling. We’re always here to offer superior service throughout every step of the transaction!
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.
Every person in the world has a different opinion when it comes to urban and countryside lifestyles. Some would never give up the city amenities, no matter the financial burden and health threats that kind of life imposes. Others who experienced country life say that getting away from the city where you wake up to the sound of birds instead of traffic noise has no price. Still, there is a third option for those who are a part of both of these worlds – the suburbs. Each of these has many benefits and some downsides. Knowing the differences between city, suburban, and rural living can help you find where you belong if you’re starting to reconsider your living conditions.
Life in rural areas
Life in the countryside is a dream come true for anyone who wants to get rid of stress and anxiety induced by big-city survival. Rural living includes life in the open, spread-out areas and small communities. There is a lot of undeveloped lands, usually surrounded by magnificent nature.
This lifestyle is a choice of people who enjoy close-knit communities, where everyone knows each other. You get to enjoy the vast space, lovely views, healing nature. This is the perfect choice for people in search of more sustainable ways of living. With a bit of gardening and farming skills, you can provide for yourself and your family and perhaps even start a small business. In addition, the peace, quiet and clean air makes it perfect for those working remotely.
Since Virginia offers majestic nature, many young families and retirees decide to move to local counties. Besides the obvious health benefits of clean air and a stress-free environment, they provide a lower cost of living and much more affordable housing.
Magnificent woods, lakes, rivers, and trails could be at your disposal if you move to the countryside.
The downsides of living in the countryside
Even though countryside residents have many health and financial benefits, there are some downsides. One of them is the commute issue. If you don’t work close to your home, you’ll need to drive to work in the city. Even though some rural areas such as Orange County are less than 30 miles from Charlottesville, which makes the commute to work bearable, not all places have the same luck.
In addition, local shops and amenities can be found only in the strict village center. Thus, you will need to stock up on food and supplies to avoid driving to town anytime you need something. That means that families usually need more than one car to get around. Also, with fewer amenities, you have fewer available services. Not being used to this occurrence can be hard if you’ve moved from the city to the countryside. However, living in rural areas makes you resilient and craftier. After you get used to such living, you’ll eliminate the need for many things.
Suburban life
There are clear differences between city, suburban, and rural living, including housing costs, development patterns, and population numbers. However, the difference between suburban and city lifestyles was never clearly defined. Finding the perfect home in a suburb is a choice of many growing families, young professionals, and retirees searching for a slower pace and more affordable cost of living. The benefits of such a lifestyle are many since you get to live peacefully and more comfortably. Plus, the commute to work isn’t as daunting as when you live in the countryside.
Suburban lifestyle, no matter how convenient, may often lack green surfaces and have nearly the same living costs as the city does.
The good and bad side of being “in-between”
Life in the suburbs is different from city life due to a slower pace and more affordable housing. Still, a suburb is considered a subset of the city. There is no official definition for it. It’s not a central part of the city, nor is it a town of its own. Some suburbs share some country-like living amenities, but still, they are not the countryside either. The cost of living is very similar to that in cities, and since cities are constantly growing and expanding, places around them are often modified with new buildings construction.
It’s safe to say that cities are slowly swallowing the suburbs, making them closer to the core. This is a good and a bad thing since you will be a homeowner in a competitive market. Still, everything you were trying to avoid while living in the city will eventually catch up with you. However, if you’ve tasted the suburban life and you need more action, maybe the city is something worth considering. Since most moving companies provide their services to wider areas, a transfer to the city from the suburbs is not something you should worry about.
City lifestyle
Needless to say that cities are the centers of happenings. They are densely populated hubs of industries, cultures, and politics. There is no better place for work opportunities, education, social and cultural life, and thousands of other amenities. Often you will hear that cities have a life of their own, that they never sleep, and that is true. They are the places where everything is happening, where progress takes place and dreams come true. Still, achieving those dreams is not always easy.
One of the perks of living in the city is the fact that you can get almost everywhere on foot.
Life in the city takes its toll
Even though life in the city can give a lot, it takes the same. To sustain in such an environment, you have to work very hard and overburden yourself with life’s many stressful factors. Daily traffic jams, rush, ever-emerging bills, limited living space, polluted air, lack of green surfaces, high costs of living, and many other small things add up to a substantial overwhelming worry. For example, for the price of a tiny apartment in NYC, you can get two beautiful homes in the countryside. This change can help you get the home of your dreams and a passive income. Even with the recent fluctuations in the housing markets worldwide, investing in real estate is always a great idea.
City life eats your money, and you can never earn as much as you can spend. No wonder if you feel a sudden rush to run away from it all. You don’t have to make a radical change and move to the countryside, but you can try living in the suburbs for a while. Even though the moving process takes a lot of time and preparation, you can still get everything ready in 7 days if you develop a good strategy.
Conclusion
Leaving the city would certainly make you healthier. However, that doesn’t necessarily mean you’d be happier. Country life is not for everyone – you have to be ready for it. The urge to get away is becoming more frequent with young Newyorkers who are moving to the countryside looking for sustainable ways of living. Others, however, find it hard to let go of all the city amenities. In addition, for some, the move is a financial necessity or comes with age. Still, it’s essential to know your options when the time comes to change directions. Whether you decide to focus on your career, family, or eco-friendly lifestyle, understanding the differences between city, suburban, and rural living can help you turn your life around.
Meta description: When looking for new living conditions knowing the differences between city, suburban, and rural living can help you turn your life around.
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.
After settling down in your home, you start thinking about how to spend your time when you’re away. Spending days traveling is great, but sometimes we wish for a base. Somewhere we want a place to come back to any time we want and relax away from our daily routines. A home away from home seems like a perfect solution. Picking a favorite location and purchasing a second home there is the dream of many families. However, it’s not easy to make this decision – it’s a costly investment and takes time and effort to maintain. But, buying a vacation home surely has its benefits, and we’re here to help you decide if you should go for it. Let’s see if it makes sense to buy a second home in Virginia in 2021 and provide your family with a fantastic place to spend future vacations.
What are the factors that may stop you from buying a second home?
Every purchase has its pros and cons. When it comes to buying a second home, the factor that worries most buyers are the costs. Making your dream of having a second home come true possibly requires a new mortgage, but also maintenance costs. Second homes need regular maintenance, furnishing but also paying unexpected costs whenever they come up. Finally, if your first house is located far away, visiting the second home frequently comes with increased travel expenses.
Remember: Make sure you evaluate your budget carefully before purchasing a second home. Even though this investment comes with additional costs, it shouldn’t be a heavy burden on your budget. Include all the factors and expenses, including taxes, which apply differently to owners of vacation homes.
Even though they have a lot of benefits, vacation properties can cost a lot.
It’s a permanent holiday destination
Another reason why people hesitate to buy a second home is related to traveling. When owning a vacation home, you hardly ever decide to go somewhere else, which may become monotonous over the years. However, families who love peaceful vacations and a homey base will surely love having a place to go whenever possible.
Reasons why buying a second home in Virginia makes sense
If you decide to buy a second home in Virginia in 2021, you need to consider all the pros and cons. However, we feel that all the advantages will win over. Let’s go through all the benefits that will show that this decision actually makes sense.
It’s a home away from home
Even though this seems like just a phrase, owning a second home means heaving a retreat from daily tasks – any time you want. If you decide to buy a second home, pick a location where you can truly enjoy your days off – and Virginia has a lot of them to offer. This way, you can be sure you can have a weekend getaway or a longer vacation in your favorite location where all the daily chores, work stress, and other problems simply disappear.
With just a short ride away, you can have a home away from your home.
You can save on vacations
Having somewhere to go anytime you need a vacation can save you money, too. You don’t need to spend a lot on hotels, flights, etc. This way, you can have a great vacation – on a budget. Furthermore, the previous year and the global pandemic have prevented people from traveling abroad, so many of them decided to buy a second home within the same state. This is usually far enough to change your environment, but not travel too far away from your home.
If you plan on renting it as a vacation home, it makes sense to buy a second home in Virginia.
Second-home can become a source of income
Another budget-related advantage of owning a second home is earning from rentals. This investment can become a steady source of income despite some additional expenses that rentals have. However, what worries buyers is the global pandemic that stopped travel and reduced rental revenues. Hopefully, the pandemic is coming to an end, which is why it makes sense to buy a second home in Virginia in 2021.
Ready for the big purchase?
Buying a second home in Virginia is so exciting, but picking the best location may be challenging. Many interesting nature spots can be a perfect retreat for your family. Do some research and choose the place you will enjoy the most. The next step would be purchasing the property and moving in.
With both of these, make sure you trust the professionals. Local real estate experts will ensure you find the best property, as they are knowledgeable about the market. Also, an experienced agent will guide you through the buying process and make it a lot simpler. The next step is moving in. Again, trusting a professional to handle your relocation to the new home is essential if you want to minimize the stress and save time. Browse only trusted moving pros at bestcrosscountrymovers.com so you can be sure your items are safe. Unfortunately, the moving industry is filled with low-quality companies, so be sure to do your best to avoid them.
Prepare for the stay
If you plan on staying in your second home longer, make sure you prepare your first home first. This means you should turn off the water, get rid of perishable food, take care of your plants or find someone to do it for you. Now you can stay on vacation as long as you want. However, you need to prepare well for a more extended stay.
Pack your vacation items safely
Once you buy your vacation home in Virginia, you can transport all the vacation essentials there. This way, you won’t risk damaging them when you pack every time you travel. For example, if you love fishing, you will want to pack your fishing equipment so it can travel safely. If you want to bring fishing gear with you, explore the main packing guidelines to keep the items protected during transport and enjoy your favorite hobby without any problems.
Take your time to feel at home
As you can see, it makes perfect sense to buy a second home in Virginia in 2021. And once you do, remember that settling in a new property is not always fast. Take your time adapting your second home just the way you want it, so you can make it a true oasis for your family.
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.
Our real estate expertise goes far beyond just buying or selling your home—you can rely on us for quality resources before and after you’ve moved.
Whether you’re searching for the best local handyman, a notary, or something else entirely, you can trust our vetted providers to get the job done.
If you ever need a real estate recommendation—today or years down the road—just give us a call for personalized advice!
Unlock Our Exclusive Real Estate Recommendations
We like to consider ourselves real estate experts, and we love being able to share our knowledge with you! Throughout our years of working in the housing market, we’ve formed deep relationships with not only our clients, but with local trusted businesses, too. We’ve vetted these vendors ourselves so that you don’t have to play the costly game of trial and error.
Need some personalized recommendations or strategic advice? Here’s how your agent can serve you even after you’ve moved.
Sellers, we don’t stop at “SOLD”
When we say we’re by your side every step of the way, we mean it—which means our services never stop at “SOLD!” Whether we’ve just listed your home or already sold it, we know there’s always more work to be done. Seemingly small details go a long way in making a house a home. We’ve worked with the best professional landscapers, painters, and cleaners in the area—all contacts you need to put the finishing touches on your space.
We consider our clients to be one of our own, which means our exclusive buying and selling resources are always available to you. At any time, you can see if your home value has increased using our free estimator or jumpstart the buying process after you sell with our advanced search tool. Our real estate professionals have gained invaluable experience in working with our clients, so we try to return the favor whenever possible by providing in-depth insight.
New homeowners, you’re not done with us yet
We loved helping you find your dream home so much that we want to keep working with you—and honestly, we think we’re going to need each other! Homeownership is a huge investment, so you want your new place to be in tip-top shape at all times.
First things first, it’s important to change your locks when you move into your home, since you don’t know who might have a copy of your keys. Don’t know of a local locksmith? Don’t worry, we’ll open some doors for you! Don’t let a household repair linger just because you don’t know a trusted provider who can get the job done. Whether you’re looking for a handyman to lend a helping hand on a home project or need repairs for your HVAC, you can count on our personalized recommendations for the most reliable providers in the area!
And for when you’ve been watching (maybe too much) HGTV…
We get it, watching Fixer Upper makes you want to DIY your entire home, especially if you’re thinking about listing soon or just moved in. But for when you’re not in the mood to do it all yourself, we’ve got contacts for everything from new light fixtures to full-on home renovations. Our desire for you to live in your dream home doesn’t stop when you sign the closing documents, and we will always be available to help with any home improvements.
Want Access to Our Preferred Vendors?
Working with a top-notch real estate agent means you’ve gained a partner for life. So when anything comes up in your buying, selling, or homeownership journey, just give us a call!
Whether you’re at the beginning of the selling process or have already bought your dream home, you can always rely on us to connect you with the area’s best vendors. Contact us today for any recommendations you may need—and don’t forget, we’re locals too, and we love to catch up with our clients!
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.
As more of us become aware of the fact that we might have too much stuff laying around, decluttering has gone from an occasional chore to a lifestyle trend. This is a positive shift, especially given the global problems caused by waste, but it can be difficult to know how to go about it.
The facts are, a less cluttered house can reduce your stress and lead to a happier life according to clinical psychologist Jaime Zuckerman. Not only is it good for your mental health, it can also be good for your wallet as decluttering and taking care of cleaning and tidying projects can actually increase your home appraisal.
Some people call in “decluttering experts,” but the truth is that unless you have a hoarding situation on your hands, you don’t need this service. Courtesy of The Licata Group, here are some tips for how you can minimize and declutter on your own.
Thinking of purchasing or selling a property? The Licata Group can help you navigate the Lake of the Woods housing market. Call us today at (540) 388-2541.
Pick a Decluttering Strategy
If you don’t know where to start with decluttering, there are many existing strategies you can use. These range from the now-famous KonMari method of sorting and decluttering possessions to the Minimalist Game, where you get rid of an increasing number of things based on the day of the month. Pick one that seems doable for you, and you may find the structure of a defined method helps you actually follow through.
Make Plans for Getting Rid of Stuff
What do you do with the bags of stuff you’ve decided to get rid of? Whether you’re going to the recycling center or a charity, know exactly when, where, and how you’ll tackle things. Alternatively, arrange a pick-up from an organization that offers that service.
Additionally, if you have any large, bulky items you no longer need, consider hiring junk haulers to properly dispose of them. In addition to appliances, professional removal services will handle things like mattresses, carpeting, and furniture. What’s more, they’ll make sure these items end up where they belong, whether it’s a junkyard or a local recycling center.
Hack Your Storage Space
Some of us aren’t blessed with a lot of storage space, even post-declutter. Luckily, there are organization hacks to help you with every room in the house. Use under-bed space in the bedroom, invest in furniture and decor that doubles as storage (such as trunks and ottomans), and use narrow spaces (like the one between your fridge and cabinet) to install vertical storage. And if you want to spruce up those shelves and drawers, use removable wallpaper, which you can find in a number of modern looks. This is also a good solution since it’s easy to swap out designs whenever the mood strikes you.
Set Up a Cleaning Schedule
Now that your home is looking tidy and clutter-free, it’s time to keep it clean. Set a regular cleaning schedule — and then stick to it. For some, this could mean setting aside Sunday mornings for cleaning; for others, a weekly schedule with a couple of small daily tasks is easier. Just make sure it fits with your routine and you can actually picture yourself doing it.
Control Your Buying
According to the Atlantic, Americans bought an average of 66 garments in 2017. Are spending habits like these part of why you had to declutter in the first place? If so, you need to re-evaluate this, or you will end up with a cluttered closet again in a matter of months.
You don’t have to go full minimalist or swear to never buy anything again, but you can learn to buy less stuff. Buy good-quality items that last longer, remove temptations like email mailing lists and free delivery subscriptions, and buy only items that you have a planned, concrete use for.
The act of decluttering itself can be fun and exhilarating. It feels great to see a home that feels cleaner, tidier, and more relaxing. Realistically, the hardest part is keeping things that way. The secret to effective decluttering is not to approach it as a one-time exercise, but as a gradual change in your consumer and home maintenance habits. Over time, you will start to value the long-term comfort and ease of a clutter-free home over the intense (but brief) rush of buying and acquiring new stuff.
Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Northern Virginia, or even Maryland or DC, we are your Real Estate team committed to finding the perfect home for you! 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, one of our area expert advisors 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 properties, please visit our website licatagroup.com
As the nation gets ready to celebrate Memorial Day on Monday, May 31, the LOW Veterans Club will provide an impressive outside ceremony honoring those individuals who have died on military active duty during service to their country. The approximately one-hour event starting at noon at the flagpole in front of the Lake of the Woods Clubhouse will feature several ways of recognizing those individuals who paid the ultimate price of their lives for their country.
Memorial Day was originally called Decoration Day on May 5, 1868 because it was a day to decorate the graves of lost loved ones. Subsequently the name was changed to Memorial Day and was declared to be a national holiday honoring the men and women who died while serving in the United States military.
LOW residents and their guests are invited to witness the true meaning of Memorial Day. Some of the patriotic events include proper raising and lowering of the American Flag, reading of the names of the LOW veterans who died in 2020, description of the historic meaning of Memorial Day, and the presentation of the wreath. Also, newly assigned LOW Veterans Club bugler, Tom Ackman, is a member of the “Buglers Across America” will perform taps.
In the spirit and intent of honoring fallen armed forces personnel the LOW Veterans Club recommends the Vietnam Veterans Memorial Fund (VVMF) a nonprofit organization that funded the Vietnam Veterans Memorial Wall located in Washington, DC. VVMF has created an In Memory plaque which contains names of the Vietnam veterans who have lost their lives as a result of their service in Vietnam.
Veterans so honored who have succumbed to: Exposure to Agent Orange; PTSD/Suicide; Cancer; Diabetes; Heart Disease, and Parkinson ’s disease. For more information contact VVMF at InMemory@vvmf.org.
For further information about the LOW Veterans Club and its activities, please contact club president Mike Ferguson at 571-972-5313 or email him at colmferguson@msn.com.
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.
