Welcome to 1300 Eastover, where you’ll enjoy fantastic water views every day! Kayak, boat, canoe, and fish with ease from your own lushly landscaped backyard! When not enjoying water activities, relax in your sunroom or on your deck while admiring your gorgeous gardens and view of serene Keaton’s Lake. The updated kitchen and cozy fireplace welcome your family and guests. The main level boasts the primary bedroom with ensuite bath and a second bedroom, along with another updated baths. Descending the stairs to the expansive lower-level family room, you’ll immediately notice that it provides a second living area, including a wet bar and a second fireplace, as well as access to the patio and lake. The third bedroom provides access to the patio and onto the gardens with pathways winding to the lake. You’ll appreciate the amazing updates that have been ongoing in this fantastic home featuring almost 2500 sq ft since 2013: Tesla solar panels and power wall, new siding and gutters, new HVAC (including ductwork), new roof, new water heater, lake pump for landscape watering, carpeting, garage door…the list goes on! Why not see for yourself? A boat tour is gladly provided!
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 volunteer 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 what’s to love in 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 contacting Pat Licata.
To see available Lake of the Woods properties, please visit our site.
Ignore the negative news—the market is coming back down to earth
Homeowners have record equity, and buyers have more inventory
This is a great time to make a move in the market, so contact us today!
You might hear a lot of doom and gloom news about the housing market lately, but let’s put it in perspective. The COVID-19 global pandemic caused unprecedented disruptions to financial markets, including housing. Now, with everyone ready to move forward, the historic hot housing market is returning to normal. Let’s look at what that means for buyers and sellers.
The current housing market and forecast
Our last blog post looked at mortgage rates in their historical context. While today’s rates range between 5-6% and are certainly higher than homebuyers’ rates during the COVID-19 pandemic, they’re nothing extraordinary. Today’s rates are still far below the all-time high of 18.45% set back in the 1980s!
A recent report by Fannie Mae forecasts that over the next 12 months, US consumers anticipate home prices to fall for the first time in two years. With potential buyers expecting further price declines and sellers not keen on giving up their lower, fixed mortgage rate, now is the time to buy or sell your home.
However, for first-time homebuyers seeking to make a move, news of continued cooling of home prices is welcome, which will keep demand high. While current homeowners considering selling may be concerned that they missed the window to realize their equity gains or will lose out on their current lower mortgage rate, it’s important to remember the larger historical trends regarding real estate investments. And, if you’re purchasing another home, you have more homes to choose from.
What home sellers need to know right now
Don’t listen to the news cycle pedaling doom and gloom about your equity gains and home value. Buying or selling property is always a good investment. The real estate market always presents opportunities, and home prices are simply moderating from historic highs.
Moreover, homeownership is a long-term asset that pays out over time, and the record equity gains of the past few years that current homeowners have enjoyed aren’t likely to ever happen again. So, while home prices are cooling off, the decline is less than 1%, leaving those equity gains intact when you decide it’s time to sell.
What home buyers need to know right now
CoStar Group, an online real estate analytics provider, recently reported negative growth in asking rental prices for the first time in 20 months, falling 0.1%. While this is undoubtedly welcome news for renters and would-be homeowners battling skyrocketing rental prices, the cost of rent remains a high hurdle for many to clear every month.
For potential homebuyers wondering if now is the time to stop paying rent and move toward homeownership, it’s worth remembering that owning a home will always be a better long-term investment of your money than renting.
So, despite a new Fannie May survey declaring that around half of today’s consumers hold a negative view of the market and think it would be difficult to get a mortgage today, this is overly pessimistic. Moreover, there are numerous loan options for qualifying buyers, such as first-time buyers and veteran programs.
Getting a mortgage is one of the most significant financial moves a person will ever make, and preparation is critical. So before you apply, spend some time ensuring that your credit and finances are in order. Because when you find your perfect home, you’ll want to be able to make an offer immediately.
Take the Next Step
If you’re ready to make a move, don’t get caught up in the frenzy of negative news. Instead, work with your local team that knows the micro-housing market in your area. Our real estate agents have decades of experience and understand how to help you navigate the market. Contact us today to figure out your best options for buying and selling your home!
What is the shortest and most reliable route that you or anyone can use to change their financial destiny and arrive at a place of financial freedom? Depending on whom you ask, you will get answers like work hard and smart, have a great business idea, invent something, or save and invest.
While all these are valid answers, they may not always bring you to a life that is free of financial worries. Each method’s ability to reach the desired goal depends on how well it meets that one requirement which is the most important factor when trying to achieve a life of financial freedom.
What is the critical factor that serves as the basic foundation for wealth-building?
You can separate how much money you earn from how much effort you invest in the thing that makes you that money. When your income-earning ability is no longer limited to your physical labor, you free yourself from the constraints of your limited time and energy.
If you are committed to your goal of building wealth, the most important thing you can do for yourself is to become adept at identifying, managing, and maximizing opportunities that make it possible to consistently earn a lot of money without necessarily having to do a lot of work.
This kind of income is known as passive income.
Non-passive income sources depend on your physical presence and direct effort to make money. They stop yielding income as soon as you stop contributing your physical presence or energy. Their income-earning ability is limited to how many man-hours you invest.
But how many hours do you think you would need to work to be able to earn up to one million dollars in a single year? The answer to that question will tell you why non-passive income sources are not the recommended path for pursuing wealth.
How can you get started with earning passive income?
Passive income through rental properties
Although there are several different ways to earn passive income, Keyrenter Hampton Roads advises the best one is putting your money into income-generating real estate, and rental properties. Why is owning rental properties a better source of passive income than investing in stock or bonds?
Steady and substantial income
Both real estate and stocks can serve as sources of passive income. But rental properties are better because the income is more predictable than stocks. As a landlord, you often know how much rental income to expect and when to expect it.
Real estate offers tax incentives that are not available when investing in other asset classes. These tax deductions can be made from the everyday expenses of operating the property. They offer a way for landlords to increase their profits.
Strategies for earning passive income from rental properties
To make money from real estate, you must understand the following things about rental properties:
Types of rental properties
There are two kinds of rental properties – commercial and residential – and within these two broad categories, there are several sub-categories. Before you buy any property, make sure you understand the different types of rental properties.
Location
The most important factor in the performance of a property is its location. The neighborhood where a rental is located is a bigger factor than the physical qualities of the property. Learn how to evaluate the viability of different locations before you invest.
Leverage
Your ability to get approved for a loan and negotiate the best terms is critical to your success. The cost of capital is a huge factor in how much passive income you earn from your property. If you don’t know much about this, hire a mortgage broker.
Know your numbers
Before you buy a property, find out the potential income from the property (based on the rental rate) and your projected operational costs. Take the time to look at numbers like the vacancy rate for the property or similar properties in the area.
Hire a property manager
Finally, you should know that real estate is not entirely a passive investment like stocks. Managing a rental property requires a lot of time and expertise. But there is a simple way to get around this problem and make the asset passive; you can hire a property manager.
Hiring a property manager to oversee your rental property is what transforms it from a non-passive form of investment into a source of passive income. A property manager takes on the responsibility of making the rental property work in exchange for a share of the profits.
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 6307 Chaucer View Circle, located in private, exclusive Landmark Mews. Close to everything you want and a commuter’s dream location for DC and all the surrounding Fairfax County locations, this quality-built 4 bedroom, 4 level townhome boasts 3 full and 2 half bathrooms. Offering more than 3200 finished sq ft, you’ll be impressed by the generously sized rooms, open spaces, and hardwood floors in the living and dining areas. The expansive primary bedroom with ensuite bath is almost the same size as the bonus 4th bedroom/loft (17′ x 30′), which also boasts a full bathroom. The private backyard and deck will become a favorite place to unwind or to gather with friends! When getting out and about is a necessity, you’ll love the proximity to I-395, the Van Dorn Metro, gorgeous parks, grocery stores, restaurants, and incredible shopping options (from Springfield Mall to Tysons Corner to Tanger Outlets National Harbor).
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.
Welcome to 3927 Lakeview Pkwy! You’ll be wowed the moment you enter by gleaming hardwood floors, light-filled rooms, and a spacious, open floor plan. The chef’s kitchen will make hosting your friends and family a breeze. The expansive back deck serves as an additional entertaining area, with access off the kitchen. The generous-sized primary suite with ensuite bath will be the perfect place to retreat at the end of a long day. Two additional bedrooms and a full bath complete this beautiful home. Enjoy gardening or relaxing in your backyard that feels like a park-like setting.
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 volunteer 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 what’s to love in 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 contacting Pat Licata.
To see available Lake of the Woods properties, please visit our site.
Welcome to meticulously maintained 405 Constitution Blvd, located approximately halfway between the front and back gates for ease! As you arrive, you’ll immediately notice the well-manicured lawn and landscaping. As you enter, you are greeted by gleaming hardwood floors welcoming you into the heart of the home. This open floor plan offers cathedral ceilings, expansive rooms, and loads of natural light. The primary suite provides room for a sitting area and has access to the wrap-around deck! And wait til you see the patio and shed with electricity and a workbench! The approved dog run also conveys! Start making memories in this one-level home that offers it all! Your wrap-around deck or patio will become a favorite relaxation spot overlooking the level lawn as we head into fall!
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 volunteer 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 what’s to love in 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 August, 32 homes were SOLD in Lake of the Woods.
2 sold below $250,000.00 5 sold between $250,000-299,999; 8 sold between $300-349,999; 6 sold between $350,000-399,999; 9 sold between $400-499,999; 2 sold between $500,000-$999,999;
28 Active/Coming Soon Listings for Sale 20 Homes Under Contract 216 Homes Sold since January 1, 2022.
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.
Mortgage rates are going up, but they’re actually not that high.
You’re still in control: you can get yourself a lower rate with these smart tips.
Find opportunities in your local real estate market—contact us today!
Many would-be homebuyers are fearful of rising mortgage rates. It seems like the news is non-stop negative when it comes to talking about the housing market. But it’s worth putting those headlines into perspective. In 1981, mortgage rates hit an all-time high of 18.45%! On a 30-year fixed mortgage right now, you can expect to find rates around 5.9%—that’s 68% less than the highest mortgage rates homeowners have historically managed. Let’s take a look at today’s mortgage rates and see why this is still the time to buy.
Why are mortgage rates increasing right now?
The COVID-19 pandemic had unexpected financial consequences across the entire world. One of those was a real estate boom in the United States, spurred by record-low mortgage rates.
In December 2020, the 30-year fixed mortgage rate was an astonishing 2.68%. And guess what? These were the lowest mortgage rates in history. The whole year of 2020 saw the lowest annual average rate in history at 3.11%.
That historical high of 18.45%? That was caused by record inflation during the OPEC embargo. And, the Federal Reserve is working hard to curb inflation right now to avoid things like double-digit mortgage rates returning.
So, while plenty of lucky homeowners were able to purchase new homes or refinance their existing ones at around a 3% mortgage rate in 2020, it was extremely unlikely that those rates would ever become the norm—because they have never been. It was only due to the COVID-19 pandemic that rates were temporarily at their lowest of all time.
Can I still buy a home with 5% mortgage rates?
Of course you can still buy a home! Before COVID-19 ushered in a few years of unprecedented global economics, in January 2019 the average mortgage rate was around 4.5% and around two-thirds of Americans still owned and occupied their homes.
Mortgage rates have seen spikes and dips and national and international events influence financial markets. But for more good news, let’s consider that the average mortgage rates have actually declined every decade since the 1970s, and the amount of homeowners has steadily increased as well.
With rates around 5% right now and more economic uncertainty on the horizon, this is still a great time to buy a home. You can lock in a rate that’s actually on the lower end, and be able to refinance when the time comes that they fall below 5% again. Or, you’ll be in a perfect position to sell your home at that time and realize your equity gains.
How you can secure a lower mortgage rate
There are still steps you can take to lower your rate, independent of the Federal Reserve. Even though the Federal Reserve is responsible for setting interest rates, mortgage rates are only influenced by the Federal Reserve, and there are more factors you can control.
First and foremost, make sure you pay attention to improving your credit score. It’s always important to have a decent credit score when applying for loans, but even more so when you can save yourself money every month on your mortgage.
Next, pay down or off any debt and try to increase your income if you can. A higher annual income helps with mortgage rates, but may also give you some extra spending to pay down debt before applying for a home loan.
And finally, shop around for different lenders, and consider different types of mortgages. There isn’t just one lender in town, and there are more options than the conventional 30-year fixed mortgage. A combination of the right lender and the right mortgage for your financial situation can make a big difference in your final monthly payment.
Let’s Buy Your Dream Home
There are still plenty of wonderful homes for sale in all types of price ranges in different neighborhoods. That’s why it’s important to contact your local real estate team. Don’t worry so much about the headline news—focus on what’s happening in your backyard, and what kind of home you can buy right now. Contact us today to get started!
Furbabies love to dress up and enjoy the spirit of the fall festivities just like us! Lake of the Woods will be hosting a spooktacular event on Saturday, October 29th from 2pm to 4:30pm specifically for man’s (and woman’s) best fur friend! Show those cats and dogs a howling good time by dressing them up in their most eerie-sistable costumes and join in on the parade around the point. Make sure to invite the whole family out to watch and cheer on all of the participants! Pets are limited to dogs and cats only and must be on a leash at all times. REGISTRATION IS REQUIRED! Please email CommunityActivities@LOWA.org for the registration form or contact 540-972-9680 for additional info. It’s sure to be a fangtastic time!
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.
Understanding why a property organizer is your secret weapon
Learning how to use a property organizer
Discovering how property organizers will benefit you
Why Use a Property Organizer
Have you ever been overwhelmed in the buying and selling process? With so many options out there and the market constantly changing, it can be challenging to stay organized during your search. Luckily, there’s a user-friendly tool that has your back, and it’s called the property organizer. The property organizer is an overlooked yet extremely beneficial tool that stimulates and simplifies your home search. It’s important for buyers to utilize the property search organizer, as it offers advantageous qualities for each.
How Will the Property Organizer Help Me?
This handy tool provides an easy way for you to save your favorite listings and property search settings so that properties within your search settings are delivered directly to your inbox. Property organizer benefits include:
Allows you to see listings that match your criteria
Speeds the process of home searching
Lists properties as soon as they hit the market
Allows you to save and organize your favorite listings
Provides a wider range of listings for as many options possible
Property Organizer and Email Alerts
First, you need to know how to use the property organizer to your advantage. Create a search for the area, price point and any additional criteria that fits within your home search. Once you create your search, save that search to receive email notifications directly in your inbox. Email alerts are widely beneficial, as they ensure that properties in your criteria aren’t missed. You can adjust your settings to expand the area, price range, and how often you receive alerts.
For Buyers
As a buyer, using the property organizer feature is vital to your home search journey. You have an advantage by using the property organizer, even if you aren’t ready to buy. No matter what stage you’re at in the buying process, creating a saved search in your property organizer is essential as far as monitoring trends, seeing what type of properties are available in your price range, and being aware of what features are common in the area. Overall, the property organizer helps you to become more active and engaged, so your next dream home won’t be missed!
For Sellers
The property organizer helps to facilitate the selling process, as it allows buyers to see what’s out there with no limitation. When you list with an agent who has a property organizer on their site, you can be assured that your property is marketed directly into buyers’ inboxes as soon as it hits the market.
So, how is this beneficial to a seller versus a buyer? Well, the property organizer may help your home sell faster by increasing the chances of your property being seen, and maximizing its reach. As a seller, you’ll be notified anytime a home is listed in your market, along with its price, size, and other specific features, which promotes awareness and strategy behind your listings. The property organizer is also advantageous to sellers in the sense that it allows them to monitor aspects such as market trends and pricing strategies.
Ready To Use The Property Organizer?
If you’re not sure how to set up a property organizer don’t worry, our team is here to help you! If you are thinking about buying, just let us know your price point, area, and any details you would like us to include in your search. If you are selling, provide us with your address and you will be notified when properties sell in your area.
