Come see what this lake life is all about! Enjoy one level living with an open floor plan, spacious living room with vaulted ceilings and floor to ceiling stone fireplace. Amazing kitchen with newer appliances and all the amenities. You will love the owner’s suite with en-suite bath and walk in closet. Relax on your rear deck and enjoy a meal in your own gazebo with a wooded private backdrop.
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.
This year’s housing market is shaping up to be the most competitive on record, but the pandemic isn’t the only thing influencing the national real estate boom.
There are actually quite a few factors contributing to today’s hot market, including unfettered buyer demand, historically low supply, and steady interest rates.
Have questions about buying a home in 2021? Get in touch with us for even more personalized advice.
3 Factors That Make 2021’s Real Estate Market More Competitive Than Ever
If you’re planning a move, you might be wondering how the real estate market will change this year—and the predictions are pretty eye-opening. Existing home sales are expected to increase by 9%, home prices could rise by a whopping 8%, and mortgage rates should stay well below 4% for the foreseeable future.
For buyers, this means you may have to work harder than usual to find the perfect place. However, this extra effort will pay off if you have a home to sell or want to take advantage of extraordinarily low interest rates.
Need help making sense of today’s market? Here are a few reasons why real estate is more competitive than ever in 2021.
The ongoing pandemic
A year ago, real estate experts had no idea how the COVID-19 pandemic would impact the housing market. While many predicted a crash akin to what we saw in 2008, we actually saw the opposite: a pandemic housing boom.
During last year’s lockdowns, many renters and homeowners grew unhappy with their living situations and wanted a change. This caused demand for homes to spike—and as panicked sellers pulled their listings, prices rose higher and higher.
The pandemic might slowly be coming to an end, but we’re still seeing remnants of 2020 in today’s market. And while more sellers are finally warming up to the idea of listing again, available housing supply is still at its lowest point ever.
Record-low interest rates
In late March, interest rates for 15- and 30-year mortgages hovered around 2.5% and 3.3%, respectively. Although these numbers aren’t quite as low as they were in 2020, buyers can still score a once-in-a-lifetime deal by moving now.
To put things into perspective, let’s say you’re thinking about buying a $300,000 house with a 20% down payment. Back when rates were nearing 4%, you could expect to pay around $1,200 per month for your mortgage. However, if you were to buy that same home with a 3% interest rate, your payment would drop to just $1,012—and that difference can save you tens of thousands of dollars over time.
Low inventory & unprecedented buyer demand
Real estate is all about supply and demand. And in today’s competitive market, an inventory shortage and swelling buyer demand have created perfect conditions for sellers. In particularly popular areas, it’s not uncommon for homes to sell just days after they’re listed, sometimes in bidding wars that go above the original asking price.
If you’re thinking about buying a home soon, be prepared to act fast. Many agents recommend getting pre-approved, limiting your contingencies, or even setting an escalation clause to automatically outbid other buyers.
Bottom Line: Now Is the Time to Move
Navigating 2021’s one-of-a-kind real estate market may seem like a daunting task, but the right agent will help you through every step of the process. Today’s buyers can capitalize on shockingly low interest rates, while sellers stand to make an impressive profit should they decide to list soon. And if you ever have any questions, we’re always here to help!
Buying or Selling Soon? Let’s Talk!
Don’t let the market keep you from making a move. If you’re ready to achieve real estate success in no time at all, drop us a line to get started. We’d love to offer you one-on-one buying or selling advice that’s tailored to your unique 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
Join us this Saturday 4/3 & Sunday 4/4 as we show off these two beautiful homes for sale in Lake of the Woods, VA! Face masks will be required to enter, and social distancing is highly recommended. For more information about the home, click the links below!
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.
Imagine the memories you’ll make with family and friends as your waterfront adventure begins! Spectacular views, dock with boat slip, 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. A screened porch and deck provide endless opportunities to enjoy the outdoors in addition to the fabulous dock area. Once inside, you will love the hardwood floors, fireplace to keep you warm on cold nights, and the open feel of this home. The cathedral ceilings and all the windows add to the lake house feel. For more information on 112 Woodlawn Trail, 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.
Right now, the housing market is full of outstanding opportunities for both buyers and sellers. Whether you’re thinking of buying your first home, moving up to a bigger one, or selling so you can downsize this spring, there are perks today that are powering big moves for people across the country. Here are the top two to keep on the radar this season.
The Biggest Perk for Buyers: Low Mortgage Rates
Today’s most compelling buyer incentive is low mortgage interest rates. The 30-year fixed-rate is now averaging just over 3%. While that’s slightly higher than the record-lows from 2020 and earlier this year, it’s still way lower than historic norms, making purchasing a home an ongoing perk for hopeful buyers (See graph below):This is a huge advantage for buyers and helps to make owning a home attainable for more households – and there’s good reason to strive for homeownership. The latest Homeowner Equity Report from CoreLogic shows how homeowners saw major gains in their net worth last year, all thanks to owning a home. Frank Martell, President and CEO of CoreLogic, explains:
“Positive factors like record-low interest rates and a booming housing market encouraged many families to enter homeownership. This growing bank of personal wealth that homeownership affords was noticed by many but in particular for first-time buyers who want a piece of the cake. As a result, we may see more of those currently renting start to enter the market in the near future.”
Low mortgage rates are a plus for buyers right now, but experts forecast we’ll see them continue to rise as the year goes on. If you’re ready to purchase a home, it’s wise to get started on the process soon so you can secure today’s comparatively low rate.
The Biggest Perk for Sellers: Low Inventory
Today, there are simply not enough houses on the market for the number of buyers looking to purchase them, and it’s creating a serious sellers’ market. According to Danielle Hale, Chief Economist at realtor.com:
“Total active inventory continues to decline, dropping 50 percent. With buyers active in the market and sellers still slow to put homes up for sale, homes are selling quickly and the total number actively available for sale at any point in time continues to decline.” (See map below):
The lack of houses for sale continues to challenge the market, and with low mortgage rates fueling buyer demand, homes are hard for buyers to find today. According to the latest Realtors Confidence Index Survey by the National Association of Realtors (NAR), the average house is now receiving 4.1 offers and is on the market for only 20 days.
Buyers are clearly eager to purchase, and because of the shortage of inventory available, they’re often entering bidding wars. This is one of the factors keeping home prices strong and giving sellers leverage in the negotiation process.
Homeowners who are in a position to sell shouldn’t wait to make their move. There’s a light at the end of the tunnel for today’s inventory shortage, so listing this spring will get your house on the market when conditions are most favorable. With low inventory and high buyer demand, homeowners can potentially earn a greater profit on their houses and sell them quickly in the fast-paced spring market.
Bottom Line
Whether you’re thinking about buying or selling a home, there are major perks available in today’s housing market. Let’s connect today to discuss how these favorable conditions play to your advantage in our local area.
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 stone accents welcome you to 102 Happy Creek Rd. Once you enter, you are greeted by a cozy corner stone fireplace, updated kitchen, and a sought-after open floor plan! The ample windows allow the sun to shine in this well-maintained, move-in-ready Lake of the Woods home. You can enjoy relaxing on your screened-in porch or gardening in your large, level yard. In walking distance to the beach. A private, gated, secured community, Lake of the Woods offers anything and everything you could possibly want! For more information on 102 Happy Creek Road, 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.
If you’ve given even a casual thought to selling your house in the near future, this is the time to really think seriously about making a move. Here’s why this season is the ultimate sellers’ market and the optimal time to make sure your house is available for buyers who are looking for homes to purchase.
The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale is still astonishingly low, sitting at just a 2-month supply at the current sales pace.
Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers (See graph below):When the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. As a result, competition among purchasers rises and more bidding wars take place, making it essential for buyers to submit very attractive offers.
As this happens, home prices rise and sellers are in the best position to negotiate deals that meet their ideal terms. If you put your house on the market while so few homes are available to buy, it will likely get a lot of attention from hopeful buyers.
Today, there are many buyers who are ready, willing, and able to purchase a home. Low mortgage rates and a year filled with unique changes have prompted buyers to think differently about where they live – and they’re taking action. The supply of homes for sale is not keeping up with this high demand, making now the optimal time to sell your house.
Bottom Line
Home prices are appreciating in today’s sellers’ market. Making your home available over the coming weeks will give you the most exposure to buyers who will actively compete against each other to purchase it.
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
Imagine wonderful sunrises from the perfect lake home or dock, designed by you and built for you! Whether you enjoy your day on the boat, kayak, jet ski, simply swimming or floating from your dock, or entertaining family and friends, this lot provides the ideal setting for your dream home. So let’s get this lake home and lake life started! Situated on the main lake, you’ll love the lifestyle! For more information on 605 Lakeview Pkwy, 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 143 Jefferson Avenue! You’ll love what this great house, located near the back gate in amenity rich Lake of the Woods, provides! As you enter, you are greeted by the expansive family room with a fireplace for those cool nights. A light-filled kitchen with ample cabinet and counter space awaits. The spacious owner’s suite with en-suite bath is sure to please. The expansive laundry/mud room can easily be converted to flex space as an office, classroom, or den. The deck is perfect for relaxing and enjoying your gorgeous, private, level, back yard oasis. For more information on 143 Jefferson Avenue, 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 108 Cumberland Circle! This meticulously renovated, turn-key waterfront home (almost everything is new in 2021!) is perfectly nestled among the trees on Keaton Lake, while also offering fabulous golf course views. So grab your fishing pole, kayak, or camera, and let’s get this lake life started! You’ll fall in love as soon as you turn onto the tree-lined driveway providing privacy from the road. The landscaping, inviting front porch, walking paths to the lake, screened porch, decks, and the abundance of privacy will make this one “the one” prior to even stepping inside…but wait until you do! Once you enter through the solid oak door, the elegant foyer and incredibly spacious living room which flows so easily into the dining area will impress. Your gourmet kitchen is equipped with stainless steel appliances, an island and granite counter tops. A main level owner’s suite with en-suite bath will be sure to please, as well as another bedroom (or office, which will make working from home a breeze). The upper level boasts two additional bedrooms and a stunning full bath. Imagine sitting on the screened porch and listening to nature serenade you. All of this and a view of the golf course and fountain are just an added bonus.
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.
