The historic Memorial Hall in Gordonsville, VA is being transformed into Champion Ice House! Champion Brewing Company, a very popular brewery in Charlottesville, VA, is partnering with Craig Hartman, owner and chef of BBQ Exchange to bring you this very exciting addition to Gordonsville! Expected to open in spring of 2021, Champion Ice House is looking to create that same spark that captivated the residents and visitors in Charlottesville, with Craig Hartman focusing on Southern fried chicken as the signature flagship dish!
With years of combined experience and a desire to provide high-quality food and drinks in a historical part of the area, Champion Ice House is poised to go down in history as one of the go-to restaurants in Gordonsville!
Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Culpeper, 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
The continued inventory shortage experienced by most regions of the country was clearly evident in Lake of the Woods again in 2020. Listings decreased by 11.6%, from 397 in 2019 to 351 in 2020, while closed sales were up 4% from 301 to 313. New construction accounted for 34 of the 313 sales. The median sold price increased a healthy 7.87% year over year from $270000 to $291,250 in 2020.
Of the 313 total sales reported in 2020, only 8, or 2 1/2%, 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.
Now let’s look at our steady growth over the past five years:
In 2017, there were 291 total sales, a whopping 21.7% increase over 2016 at 239. The median sales price climbed to $239,000.
In 2018, 234 homes sold, which was an 8% decrease from 2017. The median sales price rose to $249,900. In 2019, we realized a 28.63% gain in homes over 2018, with a total of 301 selling.
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 117 in 2016 to 37 in 2020.
It’s also telling to note that a significant number of lots have sold in the past five years. From January 1, 2016-Decemeber 31, 2020, a total of 196 lots sold: 24 in 2016; 37 in 2017; 45 in 2018, 41 in 2019; and 49 in 2020. There simply are very few lots left in LOW.
New construction has been climbing, as well. 2016 realized 28 new construction starts; in 2017, there were 30; in 2018, there were 34; in 2019, there were 48; and there were a whopping 66 new starts in 2020.
Another notable statistic is the dramatic rise in average sold price to original list price ratio. It has steadily risen from 93.9% in 2016 to 99.2% in 2020.
According to Freddie Mac and the Mortgage Bankers Association, mortgage rates were expected to stay within the 3.7-3.9% range in 2020. Interestingly, rates were surely seen well below those numbers. As of today, it’s possible to obtain a 15-year fixed rate below 2%, with the 30-year rate below 3%. Financial experts are expecting another year of low interest rates.
The prognosis for 2021, as it was in 2020, is excellent! In LOW, there are 9 homes active on the market as of 1/14/2021. In January of 2019, there were 57. Low, stable rates and hopefully more inventory should propel us to experience another year of healthy sales and appreciation.
Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Culpeper, 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
After a turbulent 2020, many homeowners are holding out until spring to list their properties.
Though spring is usually the busiest season for real estate, now is the time to take advantage of high prices, low interest rates, and skyrocketing demand for homes.
Not sure when to list? Get in touch with us today to explore your options!
Here’s Why Sellers Should Capitalize on 2021’s Hot Winter Housing Market
It’s safe to say that 2020 was a challenging year, both in real estate and for the world as a whole. And as we celebrate new beginnings, many homeowners are pondering a move at some point during 2021. Traditionally, spring is considered the best time of year to sell a home—but thanks to a number of factors, this is no longer the case.
Still not sure if now is the right time to move? Here’s why you shouldn’t wait any longer to put your home on the market.
You won’t have much competition
If you haven’t seen as many “For Sale” signs in your neighborhood recently, you’re not alone. According to the National Association of Realtors, available inventory has plummeted by nearly 40% over the last few months, which is fantastic news for today’s sellers.
Dwindling supply and high buyer demand will put your home in the spotlight if you decide to list this winter, and it means you’ll be in the driver’s seat during negotiations. Because there are fewer homes on the market right now, you also won’t have to compete with other sellers waiting to move in the spring.
Interest rates are still low
Interest rates reached record lows in 2020, which tempted many buyers to enter the market even amidst a pandemic. In November, rates actually dipped below 2.3%—that’s the lowest they’ve been in recorded history!
Most experts believe interest rates won’t spike during 2021, but we’ll probably see some slight increases as the economy continues to bounce back. Listing your home before rates go up comes with a lot of benefits, and it might even be the smartest financial decision you ever make.
Low interest rates help drive buyer demand and make homeownership more affordable. As a seller, that means you’ll draw in a larger audience of financially-qualified buyers and maybe even sell faster than you expect. If you plan on buying another home, you’ll be able to secure a great rate, too.
Home prices keep rising
If you’ve lived in your current home for more than a few years, now could be the perfect time to sell and cash in on your equity. In a recent study, the National Association of Realtors found that home prices have increased by a whopping 13.4% since 2019. In 2021, prices are expected to increase by 8%—and in 2022, that projection drops to just 5%.
While it may be tempting to “time” your sale to get the best possible price, selling your home when you know the market is doing well is a surefire way to yield an impressive profit. And if you’re ever curious about how much your home is worth right now, you can always ask your agent for a free home valuation.
The market could change before spring
As the market continues to recover, it’s still hard to know what will happen in 2021—after all, nobody predicted last year’s pandemic and economic collapse! Most experts aren’t expecting another sudden crash, but that doesn’t mean you should wait until spring to list your home.
Right now, we’re seeing a record amount of home sales, as well as a surprising number of motivated winter buyers. So if you want to be smart about your move, it makes sense to sell sooner rather than later.
Get the Most Out of Your Home Sale
If you’re thinking about selling your home this winter, contact us today at (540) 388-2541 to get started. We have plenty of resources to guide you through every step of the process, and we can even help you buy your next home after you sell.
Want to know how much home prices have risen in your neighborhood? Be sure to ask about our complimentary home value assessment!
Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Culpeper, 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
At the Licata Group, we truly pride ourselves in our Customer Service. In 2020 we received a total 102 NEW reviews from our wonderful clients, bringing us to a grand total of 238 reviews and counting!
At the beginning of the year, we made a pledge to donate $5 for each review received, bringing our total donation to $510. We want to continue to “Give Where We Live” and contribute to our local community, so a total of: $255 was donated to the local Wilderness Food Pantry and $255 donated to the Orange County Animal Shelter. We are continuing our promise of donating $5 per each new review in 2021 and hope to donate more next year!!
If we have ever had the pleasure of working together in helping you buy or sell real estate, and you would like to share your experience – we would love to hear from you!! Click here to leave The Licata Group a review! If you would like to see what some of our past clients have said about us, be sure to check out our review page! We look forward to another prosperous year in helping you with all your real estate needs!
Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Culpeper, 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
In December, 25 homes sold in Lake of the Woods. 1 sold between $130-199,000; 4 sold between $200-249,000; 8 sold between $249,900-299,000; 8 sold between $300-399,000; 3 sold between $400-599,000; 1 home sold over $1,000,000!
13 Active Listings for Sale 42 Homes Under Contract 315 Homes Sold since January 1, 2020.
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.
Looking to give your sweetheart something truly sweet for Valentine’s Day? Then head to The Estate at White Hall Vineyards on January 30th to get your hands on some hot chocolate bombs! With this being the vineyard’s first event of 2021, they are excited to have you come down to pick up some holiday sweets! From 1PM – 4PM, you’ll get the opportunity to check out some new flavors, as well as his and her gift sets, sets for the kids, and a various selection of flavors as singles! While you’re there, don’t forget to check out some of the great wine that they offer! Start your Valentine’s Day off right with this wonderful shopping experience! For more information on this event, Click Here!
Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Culpeper, 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
Welcome to 205 Edgehill Drive… a fabulous lot within walking distance to a beach on which to build your perfect home in sought after Lake of the Woods! Mature trees and close to the front gate make this the one! So get your lake life started by building your perfect place at the lake on one of the few remaining lots! For more information on 205 Edgehill Drive, Click Here!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by 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.
Welcome to 3417 Lacrosse Court, close to everything–shopping, dining, commuter lots, parks, and more! If space is what you crave, you’ve found it! This stunning, well maintained home in Beau Ridge Estates is move in ready! The inside delights with a spacious living room full of natural light, and an office with built-ins that will make working from home comfortable and efficient. The kitchen boasts granite countertops, an amazing island, upgraded stainless steel appliances, and a gorgeous backsplash. The dining room features a serving area that will make big holiday dinners a breeze.
Imagine a spacious family room with a wood burning fireplace for those cold nights! A half bath and a spacious laundry room complete the main level. You will love the fabulous owner’s suite offering a stunning, wood-planked cathedral ceiling and walk-in closet, as well as the en-suite bath with double vanity. Three additional bedrooms and an upgraded full bath complete the upper level. That’s not all… the finished, expansive lower level would make a great recreation room that is ready for your pool table, and there’s even an area to create a bar or second kitchen, and flex space. Enjoy the evenings on your private deck drinking your favorite beverage and just taking in the sounds of nature. **Note TV in the family room doesn’t convey, however, the wall unit does. For more information on 3417 Lacrosse Court, Click Here!
Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Culpeper, 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
When it comes to selling your home, staging is the easiest way to make a great first impression both online and during an in-person tour.
Focusing on the smaller touches can really impress buyers—and lighting is an important detail you should never overlook.
Looking for more easy tips to transform your home and get top dollar in no time? Drop us a line for even more staging advice!
Staging Before You Sell? Don’t Overlook Your Home’s Lighting!
You’ve probably heard that staging is an essential step to drawing in buyers. Most real estate agents will tell you to stick with neutral decor and depersonalize as much as possible before your home hits the market. However, that doesn’t mean you shouldn’t make a few subtler changes, too.
Looking for an easy way to accentuate your home’s best features? Try framing them in the right light—literally. Bright, ample lighting will give your space a glow buyers will love, and it can even make your house seem larger and more open. Here are some easy ways to ensure your home is perfectly lit before your next showing.
Choose the right bulbs
The quickest way to boost your home’s brightness is to swap out low wattage incandescents in favor of LED (light-emitting diode) or CFL (compact fluorescent) bulbs. They’re slightly more expensive, but the payoff is worth it—your rooms will feel much more spacious, and they can last for up to 50,000 hours.
Nowadays, LEDs and CFLs come in a variety of shapes, sizes, and colors. If you’re looking to add a warm glow or make a room feel cozy, try going for a soft white bulb. Cooler bulbs create an energizing atmosphere better suited for task lighting, bathrooms, and kitchens.
Swap out old fixtures
Take a look at the light fixtures throughout your home—are they looking a little dated? You may not mind that old ceiling fan light or tarnished wall sconce, but buyers will likely notice them. While you don’t have to replace every fixture in the house, updating the ones in your main living areas will make your space appear more on-trend.
You want to keep your lighting neutral, and incorporate matching finishes wherever possible. If you’re not sure where to start, consider replacing your kitchen lights with stylish pendants. Swapping out an old chandelier for a lantern or orb-style fixture can breathe new life into your dining room. And when it comes to the bathroom, try to choose sconces with clean, simple lines.
Layer your lighting
Layering your lighting is just like arranging furniture; if done correctly, it can enhance the size and feel of an entire space. You should aim for three different types of lighting in each room: ambient (overhead), task (reading or desk lights), and accent (table or floor lamps). This forms a cohesive level of light throughout your home.
Don’t be afraid to get creative with your lights. You can add both form and function with some under-counter lighting or by installing a dimmer switch on an overhead fixture for more customization. The possibilities really are endless—if you’re in need of some ideas, just ask your agent!
Amp up the natural light
Today’s buyers want homes filled with natural light. So if you have a room that gets a lot of sun, throw back the drapes and open the blinds before a showing.
Looking for additional ways to create a sun-bathed glow? Think about painting your walls in lighter colors—like white, grey, or beige—or using a higher gloss finish. You can also accessorize with mirrors or shiny decor to reflect light throughout a space.
Looking for More Home Staging Tips?
Staging your home doesn’t have to be hard when you have the help of a top-rated agent! Contact us today for even more exclusive selling tips—we’d love to get your property market-ready and maximize your potential profits. And if it’s been a while since you checked up on your home’s current value, feel free to ask us for a complimentary equity assessment.
If you’re looking to shred some old papers or documents, now you can do so at our office! We are proud to announce that we have an on-site secure shredding service that we’re providing to our clients for FREE!! All you have to do is come to our office at 36111 Goodwin Drive (between CVS and AT&T across from the LOW front gate) during our office hours, Monday – Friday from 9:00 AM – 5:30 PM, and ask to speak to one of our team members. You will be guided to the locked box that is only accessible by Iron Mountain, the shredding service. You’ll place your documents in the locked box and when full, Iron Mountain retrieves the contents and provides us with a certificate when contents have been shredded. We love being a resource to our community, so come to our office and shred to your hearts content!
Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Culpeper, 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
