Category Archives: Real Estate

market stats

The LOW-down on Real Estate at the Lake 2020 By Pat Licata

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

Beautiful Home with Brick Fireplace For Sale in Lake of the Woods, VA! 129 Parliament Street Offered at $249,900 Now UNDER CONTRACT!!

Welcome home to 129 Parliament Street in amenity-rich Lake of the Woods! You’ll love the location within walking distance of the pool, park, and Community Center! Upon entering, the light-filled living room with soaring ceilings and a brick fireplace for those chilly nights will wow you. The kitchen boasts upgraded appliances, breakfast bar and a large dining area with access to the deck. Off the deck you’ll find a private, level back yard perfect for gardening and enjoying outdoor activities. The main level also offers the owner’s bedroom, full bath and laundry. The upper level features a loft which is open to the living room below. This would make an awesome office or craft room, and it would be perfect as a virtual learning area. There’s even a private deck off of the loft! The upper level features two additional bedrooms and a full bath. For more information on 129 Parliament Street, 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.

market stats

Current Real Estate Statistics for 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 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.

market stats 2020

Lake of the Woods December 2020 Market Statistics


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.

Why Homebuyers are Moving to Orange County, VA

If you have to describe it in just a word, many would say that Orange County, VA, is outstanding. It’s a great place to live, work, and enjoy every moment of free time relaxing in nature. In essence, there is beautiful scenery throughout the county, but also many historically rich locations. If you need a place far from the city crowds, you will find plenty of that in Orange County for sure. Far from all the bustle but close enough to benefit from modern amenities. This is why many homebuyers are moving to Orange County, VA, searching for a more quiet life. And when you add affordable costs and low taxes into the combination, it speaks for itself. Today, we will explore some of the most common reasons people are deciding to live in this beautiful area.

Several reasons homebuyers are moving to Orange County, VA

People have different reasons for purchasing a home. While it’s not always an easy decision, financial situation and quality of life are some of the main ones. But, finding the right community where you will enjoy and feel safe without spending a fortune can be challenging. However, this is precisely what many cities and towns in Orange County, VA offer. Overall, there are numerous appealing benefits Orange County can provide to its residents. From the quiet way of life to an excellent education to access to work. These are the reasons why it’s an immensely popular housing market. So, if you have the opportunity, you should seize it.

Discovering Orange County

Many people discover how beautiful Orange County is by mere occasion. Plenty of today’s residents were simple tourists passing by, but once they saw how convenient it is to live here, they decided to relocate.

History lovers enjoy tours through Montpelier and other historically rich locations, while nature enthusiasts come here for the fantastic landscape. And plenty of others just notice how leisure is a lifestyle here. Suddenly, enjoying a quiet country lifestyle while having access to city amenities becomes the idea. And taking a break from all the urban stress and settling into affordable Orange County is becoming a goal. After such discovery, many decide to explore the local estate market.

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Many people are visiting Orange County for its amazing nature.

Wonderful weather

Besides so many things you can do and visit, Orange County has terrific weather. You can enjoy the lakeshore and visit the mountains on the same day. Just make sure you hit the right season since there are four distinctly beautiful seasons here. In January, temperatures are between 25 and 50F, while in July, it can be as high as nearly 90F.

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From water to mountains, you have everything in Orange County.

Orange County geography

Orange County is a relatively leveled county with elevation going between 170 and 1200 feet. Even the highest summits, like Clark Mountain and Merry Mountain, don’t go above those heights. There is also Lake Orange, a preferable destination for those who enjoy the shoreline. This is one of the county’s best places for fishing, camping, and hiking. If you are more into boating, swimming, or waterskiing, you can also visit the northern parts of Lake Anna.

Working in Orange County, VA

History and beautiful nature are not the only conveniences of living in Orange County. Many fine places are within driving distance to large industrial cities. This means buyers are considering living in a calm environment and working nearby. On top of it, you always know all amenities are a short drive away. At the same time, you can find many major employers from agriculture to manufacturing to other sectors hiring here. But that’s not all. Orange County offers a fertile ground for all kinds of startups, so if you are looking to start your own business or expand an existing one, it can be a great opportunity. In addition, its location makes it accessible to major airports and ports, so transportations won’t be a problem.

Small-town atmosphere

The small-town atmosphere is another reason why buyers choose Orange County. Plenty of communities offer a laid back lifestyle in the middle of incredible scenery. These are the places where people mostly know each other and take good care of their neighbors. Each location has numerous gatherings and events where locals can enjoy. From different parks to farmer’s markets, it just adds to the overall atmosphere, making the entire Orange County more enticing. Of course, those who want more privacy can move to more secluded places on the outskirts of towns or mountains. These are the places where they can enjoy the impressive mountain views and fenced pastures like in movies. Just make sure to organize your relocation on time so that movers can take you to your new home in good weather.

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Private ranch-style property is quite common to find.

Education

Homebuyers with kids, or those who plan on having them, show great interest in education. It’s fair to say that Orange County is dedicated to providing high-quality education. It’s constantly working on improving the education system, programs, and facilities, which is one of the main reasons families decide to buy a home and settle down here.

Orange County is an excellent place to spend your retirement in

Orange County also offers plenty of quite popular and quality places for retirees. Not only because of the slow pace of life, or wonderful nature and convenient weather. But also because of excellent healthcare access and affordability. Some of the best locations for retirees are those close to big city amenities and top-level medical facilities. And if you are looking for affordability, Orange County offers some of the best home prices in Virginia, as well as those in senior communities. Just make sure you contact the right agents to help you with information about locations and prices.

If you are a homebuyer who needs to ensure a life in a quiet place far from all the city bustle, Orange County welcomes you. This county offers something for everyone. You can enjoy living in completely private areas far from others, or you can live in friendly communities that care for each other. In most cases, homebuyers are moving to Orange County, VA, for a convenient and affordable lifestyle. With numerous locations that offer everything within a short drive, you can have everything you need.

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

Pictures:

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Stunning Home For Sale in Lake of the Woods, VA! 320 Liberty Blvd Offered at $325,000 Now UNDER CONTRACT!

You will absolutely fall in love with 320 Liberty Blvd! You are welcomed by gleaming hardwood floors, formal dining room with window seat, an incredibly huge living room featuring vaulted ceilings, a gas fireplace for those cool nights, and an abundance of natural light. Enjoy cooking in the spacious kitchen with granite countertops and stainless steel appliances, as well as a large eat-in area with access to the screened porch. The open floor plan will make entertaining a breeze! The sought after split bedroom design with an incredible, expansive owner’s  suite featuring a walk in closet, access to a private deck,  large en-suite bath, with a soaking tub to melt the day away, will delight. Imagine quiet evenings in the screened porch with your favorite beverage, reading a book or enjoying cookouts with spacious outdoor living areas and spending time with family and friends. For more information on 320 Liberty Blvd, 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.

Gorgeous Cul-de-sac Home For Sale in Lake of the Woods, VA! 102 Cypress Court Now UNDER CONTRACT

Craving space? You’ll love this great home located in amenity rich Lake of the Woods close to the back gate! The house is perfectly situated in a cul-de-sac on a private lot. The inside delights with a spacious living room boasting cathedral ceilings, skylights, and corner gas fireplace. Enjoy family gatherings and holiday meals in the formal dining room. The kitchen/dining area provides access to the deck and tons of room to spread out. The owner’s suite, with deck access, is spacious with en-suite bath featuring soaking tub, double vanity, and a generous walk-in closet with built-ins.

There are two additional bedrooms and a laundry room all on the main level. The lower level is where you will find the expansive family room with another corner gas fireplace, two additional large bedrooms, a full bath, and all new flooring. If that isn’t enough, the lower level features flex space that would make homeschooling and/or working from home a breeze! Enjoy sitting on the deck with your favorite beverage listening to the sounds of nature.  For more information on 102 Cypress Court, 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.

Spectacular Home For Sale in Lake of the Woods, VA! 101 Silver Spring Drive Offered at $274,900 Now UNDER CONTRACT!!

You will love what this spacious home has to offer! Located in amenity-rich Lake of the Woods, this house is perfectly situated on a large corner lot. The interior delights with a spacious, light filled living room, large eat-in kitchen with an island, plenty of counter space and a formal dining room. The upper level is where you will find the owner’s suite with en-suite bath and large closet, along with two additional bedrooms and a full bath. Home has been freshly painted and new carpet installed in the living room and bedrooms. If that isn’t enough, the lower level features a family room with a brick fireplace, wet bar, built in shelving, another full bath, and separate laundry area! The oversized garage is perfect for the car enthusiast or woodworking, gardening or even for a craft area. Enjoy sitting on the huge deck listening to the sounds of nature. For more information on 101 Silver Spring 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.

WATERFRONT Home For Sale in Lake of the Woods, VA! 102 Surrey Lane Offered at $749,900 Now UNDER CONTRACT!

Imagine the memories you’ll make with family and friends as your waterfront adventure begins! Spectacular sunrises, stunning views, deep water off of an expansive dock with bar that conveys, and a contemporary house with a true lake house feel make this one “the one!” You’ll love spending your days at the dock either relaxing or floating on a raft, jumping in the water or onto your watercraft of choice. Two screened areas and ample decking provide endless opportunities to enjoy the outdoors in addition to the fabulous dock area. When the water season is over, the detached 3 car garage will easily accommodate your boat or watercraft. Once inside, you will love the hardwood floors, floor to ceiling stone fireplace to keep you warm on cold nights, and the open feel of this home. The soaring ceilings and all the windows add to the lake house feel. For more information on 102 Surrey Lane, 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.

LOT For Sale in Lake of the Woods, VA! 205 Edgehill Drive Now UNDER CONTRACT!

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.