Category Archives: Real Estate Advice

405 cornwallis ave, Locust Grove VA 22508

405 Cornwallis Ave, Locust Grove, Virginia 22508 Offered For Sale at $295,000!

Welcome to 405 Cornwallis Avenue, a fabulous home with an equally fabulous location, just a short walk to the beach!! You’ll fall in love with this move-in-ready quintessential lake home full of charm that offers living areas on two levels and boasts an almost half-acre private, level lot situated on a quiet street with main lake views. The stunning hardscape beacons you in! Mornings will be welcomed as you start your day sipping your morning brew on the deck nestled in the trees. The open floor plan, awesome mid-century cone fireplace, family room, kitchen, full bath, and owner’s suite on the upper level will wow you. Two additional bedrooms, a second family room, and a full bath on the main level provide so much more space! You’ll be able to enjoy it all immediately, as there is brand-new carpet, and the roof and insulation were replaced in 2020. The HVAC is newer, and the hot water heater is only 2 years old! The abundant parking area and shed are fantastic bonuses.

So let’s get this lake life started Located in a private, gated, 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 the mid-$100,000 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.

205 Commerce St, Occoquan Virginia 22125

205 Commerce St, Occoquan Virginia 22125 Coming Soon for $699,900!

Welcome to 205 Commerce Street, where the history of 1920 blends with the updates of today. What a rare and wonderful opportunity to own this beautifully restored home that is also zoned for commercial use. You will fall in love from the moment you arrive. Located in the heart of Beautiful Historic Occoquan, this home is an American Folk/Foursquare style. Commuting is a breeze, home is only one minute from I-95 and seconds from Route 123 and close to VRE train and commuter lots. You are just steps away from shopping, restaurants, museums and all that the town has to offer and just one block from the Occoquan River and River Mill Park. The main level features beautiful wood floors, a large living room with a brick fireplace, a separate formal dining room, and a beautifully updated kitchen. You will love relaxing on the spacious screened-in front porch. Upstairs, you will find the primary bedroom with a huge walk-in closet and attached bathroom, as well as two other bedrooms and a hall bath with a jetted tub. The basement has a finished bonus room, workshop, closets and plenty of unfinished storage space. The one-car garage and lovely backyard back to Poplar Alley. Professional photos coming soon!

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.

17071 Waine Dr, Orange VA 22906 for sale

17071 Waine Dr, Orange, VA Offered for Sale at $419,900!

Welcome to 17071 Waine Drive! Imagine sitting on your front porch swing watching the skydivers floating down gracefully with your favorite beverage. Once inside, you are welcomed by gleaming hardwood floors, elegantly painted and space to roam. The open floor plan boasts a family room with a gas fireplace, fine finishes and built-in bookshelf. The main level living areas flow effortlessly, into one another, it is perfect for entertaining or daily life. The dining room is full of natural light and perfectly sized with access to the deck. Enjoy cooking in your kitchen featuring upgraded appliances, breakfast bar, and recessed lighting. Your owner’s suite is spacious and offers an en-suite bath with soaking tub and double vanity. The lower level will excite with a work-out room that will make exercising at home a breeze or watch the latest movie in your own home theater room, this home has it all. You will love watching the deer and other wildlife from your deck as you relax and hear nature sing. A country setting, so close to town and perfectly situated on over 3 acres, you can forget about all of your worries. There is plenty of room for your horse and room to create your own oasis away from it all yet so close to everything!

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.

10201 n hampton, fredericksburg virginia 22408

10201 N. Hampton Ln, Fredericksburg, VA 22408 For Sale at $405,000!

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.

3 Charts That Show This Isn’t a Housing Bubble

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 Macexplains 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.

open house general

Lake of the Woods Open Houses Saturday, July 17th from 1pm – 3pm! Check them out!

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.

31342 Paynes Farm Dr, Locust Grove VA 22508

31342 Paynes Farm Dr, Locust Grove VA 22508 Offered for Sale at $490,000!

Welcome to 31342 Paynes Farm Dr. This beautiful custom-built home is nestled in the trees and perfectly situated on 4+ acres. You are welcomed by an expansive front porch with ceiling fans and room for a porch swing. Once inside, you will notice the hardwood floors, and huge foyer leading to the great room. The great room has a gas fireplace, built-ins and access to the deck. You will love how open the kitchen is, featuring a huge island, pantry and dining area. The formal dining room is just to the right and creates an incredible open area for entertaining family and friends. There are two spacious owners’ suites with en-suite baths. Imagine the main level office that could also be a playroom, craft room or classroom. The laundry/mudroom will amaze you with wall-to-wall cabinets, countertop and sink. And that’s not all…the three-car garage will provide amazing storage, while the shed outside will accommodate all your lawn equipment. With the acreage, you could create a backyard oasis. Plant a garden, add a swimming pool, play area or whatever you desire. You will enjoy the sounds of nature and watching the deer graze from your deck. Conveniently located close to the Town of Orange, Culpeper and Fredericksburg.

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.

11125 Clara Barton Dr, Fairfax Station VA

11125 Clara Barton Dr, Fairfax Station VA 22039 Coming Soon for $799,000!

Welcome to 11125 Clara Barton Drive, where location is everything!! This amazing brick home, nestled perfectly among the trees on almost 3/4 of an acre, boasts approximately 3600 square feet on three finished levels. You’ll discover custom features such as a European crafted style bar and wine cellar as you tour the generously sized rooms and flex space. Priced to provide you the opportunity to make this home your own, your creative updating will be creating built-in equity! A win-win!! Close to George Mason University, metro, Fair Oaks Mall, Fairfax City and easy commuting.

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

Do You Know the Hidden Costs of New Construction?

Key Takeaways:

  • 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.

107 fairway drive, locust grove va 22508 home for sale

107 Fairway Dr, Lake of the Woods, Virginia now UNDER CONTRACT!

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.