While home prices may have ended 2017 on a high note, in the United States this year (2018), home prices are beginning to rise, faster than the rate of economic growth.
Home prices have increased 5.9% which is impacting buyer’s budgets. The market had been very limited and with Spring market in full-swing, NAR chief economist, Lawrence Yun believes “one of the top wild cards for the housing market in coming months will be how both buyers & potential sellers adjust to the steady climb in mortgage rates since last year.”
Along with raising home prices, interest rates are on the rise as well which puts a strain on borrowers and adding additional pressure to their budget.
According to the National Association of Realtors, rising interest rates could also hold back some sellers that are reluctant to lose their lower interest rate, particularly if they had recently refinanced.
Whether your looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your professionals for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia, we are your proven Real Estate professionals. Thinking of selling? In any market condition, that’s the #1 question asked by home sellers. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. The Question is how much is it worth? 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.
By Pat Licata, External Affairs Committee
What a difference a year makes! 2017 was an amazing year for real estate sales in Lake of the Woods, with sales showing an increase of 21+% over 2016. New construction has continually been on the rise as well.
Of the 294 total sales in 2017, only 17, or 5.8%, were either short sales or foreclosures.
At the height of the distressed real estate market in 2010, a whopping 43% of all sales were either short sales or foreclosures. We’ve come a long way!
So let’s look at our steady growth over the past five years: In 2013, the median sold price was $190000, and 211 homes sold, of which 28.2% were distressed sales.
In 2014, the median sold price jumped to $219,450, with 193 homes selling, of which only 11.9% were distressed.
In 2015, the total sales climbed to 247, with 15% being distressed. The total sales represented almost a 30% gain over 2014, and the median sales price dropped to 210,000.
In 2016, the market was pretty flat compared to 2015 in regards to total sales, which held at 243 with a decrease in distressed sales to 11.1%. However, 2016 saw the median price jump to 225000, a healthy 7.1% increase.
2017 told a totally different tale: 294 total sales, a whopping 21.1% increase over 2016 with only 5.8% being distressed. The median sales price climbed to 239,000.
Average days on the market (DOM), which is the number of days it takes from the time a property is listed until it goes under contract, has steadily declined from 111 in 2013 to 95 days in 2017. It’s also telling to note that a significant number of lots have sold in the past five years. From January 1, 2013-December 31,2017, 155 lots exchanged ownership.
New construction has been climbing, as well. 2013 saw 17 new construction starts, while 2014 had 18, In 2015, there were 41; in 2016, there were 28; and there were 30 in 2017.
Another good year in 2018 is anticipated! Our low taxes in OC will potentially be even more appealing to prospective residents. The new tax law allowing tax deductions only up to $10,000 for real estate taxes may drive consumers to lower tax base localities such as what we enjoy here.
Whether your looking for homes for sale in Lake of the Woods Va or Waterfront property in Virginia or homes for rent we are your professionals for Stafford, Fredericksburg, Spotsylvania, Locust Grove and Central Virginia, we are your proven Real Estate professionals. Thinking of selling? In any market condition, that’s the #1 question asked by home sellers. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. The Question is how much is it worth? 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!
Enjoy this beautiful aerial tour of Lake of the Woods! By Pat Licata, behold the beauty of Lake of the Woods from a bird’s eye view! From this view you will be able to see all the magnificence and great amenities Lake of the Woods has to offer. After watching this breathtaking aerial tour you will understand why everyone says “It’s another beautiful day at the lake” each and every day!
There are cracks in the foundation. Nothing structural. Nothing that’s going to threaten the stability of the home, but they’re there. Nooks, crannies and holes through which seeps an invisible threat. Colorless, odorless and undetectable by your average human, it is nonetheless the second leading cause of lung cancer in the United States.
Radon gas – even the name sounds ominous, evoking images of radiation and nuclear devastation. Radon gas is created when uranium in the soil decays. The gas then seeps through any access point into a home. Common entry points are cracks in the foundation, poorly sealed pipes, drainage or any other loose point. Once in the home, the gas can collect in certain areas – especially basements and other low-lying, closed areas – and build up over time to dangerous levels. The Environmental Protection Agency of the US Government has set a threshold of 4 pico curies per liter as the safe level. As humans are exposed to the gas over a period of years, it can have a significant and detrimental effect.
New York County as a whole covers a total area of 33.77 square miles (87.5 km2), of which 22.96 square miles (59.5 km2) are land and 10.81 square miles (28.0 km2) are water.
A modern redrawing of the 1807 version of the Commissioner’s Grid plan for Manhattan, a few years before it was adopted in 1811. Central Park is absent.
One neighborhood of New York County is contiguous with The Bronx. Marble Hill at one time was part of Manhattan Island, but the Harlem River Ship Canal, dug in 1895 to improve navigation on the Harlem River, separated it from the remainder of Manhattan as an island between the Bronx and the remainder of Manhattan. Before World War I, the section of the original Harlem River channel separating Marble Hill from The Bronx was filled in, and Marble Hill became part of the mainland.
The blog post slider is automatically created with images you upload to the post and one video from Vimeo or YouTube (optional). It’s built on the Boostrap slider.
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On the topic of alignment, it should be noted that users can choose from the options of None, Left, Right, and Center. In addition, they also get the options of Thumbnail, Medium, Large & Fullsize.
The image above happens to be centered. The rest of this paragraph is filler for the sake of seeing the text wrap around the 150×150 image, which is left aligned.
As you can see the should be some space above, below, and to the right of the image. The text should not be creeping on the image. Creeping is just not right. Images need breathing room too. Let them speak like you words. Let them do their jobs without any hassle from the text. In about one more sentence here, we’ll see that the text moves from the right of the image down below the image in seamless transition. Again, letting the do it’s thang. Mission accomplished!
And now for a massively large image. It also has no alignment.
The image above, though 1200px wide, should not overflow the content area. It should remain contained with no visible disruption to the flow of content.
And now we’re going to shift things to the right align. Again, there should be plenty of room above, below, and to the left of the image. Just look at him there… Hey guy! Way to rock that right side. I don’t care what the left aligned image says, you look great. Don’t let anyone else tell you differently.
In just a bit here, you should see the text start to wrap below the right aligned image and settle in nicely. There should still be plenty of room and everything should be sitting pretty. Yeah… Just like that. It never felt so good to be right.
And just when you thought we were done, we’re going to do them all over again with captions!
Look at 580×300 getting some caption love.
The image above happens to be centered. The caption also has a link in it, just to see if it does anything funky.
Itty-bitty caption.
The rest of this paragraph is filler for the sake of seeing the text wrap around the 150×150 image, which is left aligned.
As you can see the should be some space above, below, and to the right of the image. The text should not be creeping on the image. Creeping is just not right. Images need breathing room too. Let them speak like you words. Let them do their jobs without any hassle from the text. In about one more sentence here, we’ll see that the text moves from the right of the image down below the image in seamless transition. Again, letting the do it’s thang. Mission accomplished!
And now for a massively large image. It also has no alignment.
Massive image comment for your eyeballs.
The image above, though 1200px wide, should not overflow the content area. It should remain contained with no visible disruption to the flow of content.
Feels good to be right all the time.
And now we’re going to shift things to the right align. Again, there should be plenty of room above, below, and to the left of the image. Just look at him there… Hey guy! Way to rock that right side. I don’t care what the left aligned image says, you look great. Don’t let anyone else tell you differently.
In just a bit here, you should see the text start to wrap below the right aligned image and settle in nicely. There should still be plenty of room and everything should be sitting pretty. Yeah… Just like that. It never felt so good to be right.
And that’s a wrap, yo! You survived the tumultuous waters of alignment. Image alignment achievement unlocked!
The logo is a rebus borrowed by Milton Glaser from a Montreal radio campaign. CJAD Montreal Quebec Canada ran a campaign entitled “Montreal, the city with a heart”. The logo consists of the capital letter I, followed by a red heart symbol (♥), below which are the capital letters N and Y, set in a rounded slab serif typeface called American Typewriter.
Glaser expected the campaign to last only a couple months and did the work pro bono. The innovative pop-style icon became a major success and has continued to be sold for years. In the popular mind (though this was not the original intention) the logo has become closely associated with New York City, and the placement of the logo on plain white T-shirts readily sold in the city has widely circulated the appearance of the image, making it a commonly recognized symbol. Glaser’s original concept sketch and presentation boards were donated by Doyle to the permanent collection of the Museum of Modern Art, New York.
In 1977, William S. Doyle, Deputy Commissioner of the New York State Department of Commerce hired advertising agency Wells Rich Greene to develop a marketing campaign for New York State. Doyle also recruited Milton Glaser, a productive graphic designer to work on the campaign, and created the design based on Wells Rich Greene’s advertising campaign.
The rest of this paragraph is filler for the sake of seeing the text wrap around the 150×150 image, which is left aligned.
