Even in a seller’s market, you may still need to reduce your price
Consider if you’ve tried everything else before a price reduction
Make sure to seek the advice of your trusted realtor–we’ve seen it all before!
Even in a competitive seller’s market like the one we’re in right now, listing your home for the right price is key. Don’t count on a bidding war happening to get the price you want! Let’s take a look at what you should do before listing your home, indicators that your home is priced too high, and the strategies you can use to make the price right.
How Do I Figure Out the Right Price?
When home prices are rising quickly, low appraisals can affect your listing price. With year-over-year home prices up 17% on average nationwide in 2021—with some markets seeing as much as 35% increases—the appraisal you receive may not reflect other recent asking prices in your area.
Your experienced real estate agent will use data from the local MLS and consider other homes in your neighborhood and what they sold for recently. They’ll also consider tax data, your property’s previous sale price, and even micro market trends. Working with an agent in such a fluid, dynamic market is essential to getting the price right.
Since your largest pool of buyers often finds your home within the first 21 days of listing, try to list your home at the right price from the start. If you’re not seeing the offers you thought you would, make an adjustment quickly before the initial interest fades away.
If the first week of listing your home isn’t resulting in offers, especially in a market this hot, that’s a red flag your home is overpriced. However, if you’re getting offers, and they just aren’t meeting your listing price, it’s a good sign you’re in line with the market and may need a small decrease.
How Do I Know When to Lower the Price?
It’s exciting to list your home in such a historic market, but moving too fast and forgetting the basics can hurt your chances of success. Work with your real estate agent to market your home. This includes cleaning and decluttering your home, staging rooms, taking attractive photos, and communicating the value of the property in the listing.
Rely on the most recent data to find the sweet spot for price. You’ll want to consider homes recently sold within a mile or two of your home, especially ones with the same number of bedrooms and bathrooms and square footage within 20% of your home that closed within the last 90 days.
If all of that is said and done and you’re not receiving any offers, you may need to lower the price. Even in a seller’s market, selling over asking or enjoying a bidding war for a higher price is not guaranteed. Make sure you know the lowest price you’re willing to accept before you list your home, so making a change won’t feel like taking a loss.
When it comes to finding the new price, there are a few things to consider. While the general advice is to lower anywhere from 0.5% to upwards of 3%, you also want to pay attention to your price bracket and what buyers are searching for. If lowering your price brings you down from $410,000 to $398,000, that will open up your home to a new pool of buyers searching for homes under $400,000.
Price Your Home Right from the Start
Real estate is a continual learning process, and it takes effort to figure out the right price. That’s why you should work with our experienced, trusted team to get started out right! Contact us today to find the true value of your home based on the most recent, up-to-date, micro-economic data available. Our team is here to help you sell your home for top dollar.
Directly from Lake of the Woods Players Club website, a description of the upcoming theatric show: Foxfire: “Annie Nations, an indomitable Appalachian widow of 79, lives on her mountain farm with the acerbic ghost of her husband Hector. Her tranquility is threatened by a brash real estate developer who wants to turn her land into a vacation resort and by concern over her son Dillard, a country singer who has come home with two stranded children because his wife has run away. Annie’s battle to decide her future takes her through some funny, touching and magical flashbacks to her life with Hector. Played on Broadway by Hume Cronyn and Jessica Tandy, this couple offers a staunchly affirmative tribute to country folk.” Tickets costs $22 for adults, $18 per students. Buy tickets here. You do NOT have to be a Lake of the Woods resident to purchase tickets!
Performances will be held starting: Friday, April 1st at 7:30PM Sat. April 2nd at 7:30PM Sun. April 3rd at 7:30PM Fri. April 8th, 7:30PM Sat. April 9th, 7:30PM and final show, Sunday, April 10th at 2PM.
Please note: masks will be required for all audience members regardless of vaccination status. Check out the cast below in the Foxfire Promotional Video:
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.
A perfect place for your dream home, this lot is close to the members only back gate. You will enjoy the privacy of this wooded lot. There are only a few lots left in amenity-rich Lake of the Woods which offers so many choices: play golf, jump in the lake, swim at the pool, work out at the fitness center, or dine at the clubhouse overlooking the pristine lakes. A private, gated, secured community, Lake of the Woods offers anything and everything you could possibly want. Home to two lakes (the 550 acre main lake and a 35 acre “fishing lake”), a golf course, an equestrian center, a fire and rescue department, and a church all within the gates, Lake of the Woods simply has it all. Whether your passion is boating, water skiing, kayaking, golfing, horseback riding, or simply taking in the breathtaking views from the clubhouse while enjoying a fabulous meal, from your own deck or yard, or from one of the beaches, you won’t be disappointed! Perhaps you’d like a game of bridge or volunteering your time and talents…Lake of the Woods offers more than 60 clubs and/or organizations from which you may choose to become involved. Located in Orange County, we are fortunate to enjoy low real estate taxes. Coupled with home prices ranging from the high-$200,000s to over $2,000,000, Lake of the Woods is the perfect community for both full-time residents, as well as weekenders. But don’t take my word for it, please come see for yourself! I will gladly give you a tour of Lake of the Woods by boat and by car so that you may experience why I love Lake of the Woods!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my homeworth?” 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 102 Monument Road! If you love spacious living, you will love this home! The entry welcomes you into the expansive living room which boasts built-in book shelves, cabinets and a unique stand alone wood burning fire place, an impressive space! Beautiful French doors lead you into a den with another cozy brick, wood burning fireplace. Enjoy preparing meals in the galley style kitchen with gleaming granite countertops, and stainless steel appliances. With four bedrooms, you will have plenty of accommodating space. Step outside into the sweeping deck with a large table and chairs, a platform pergola to surely impress your guests as you provide so many spots for entertainment and relaxation. There’s even a workshop/man cave/she-space to escape to with a/c and heat. You could also enjoy a short walk to Cornwallis beach.
A private, gated, secured community, Lake of the Woods offers anything and everything you could possibly want. Home to two lakes (the 550 acre main lake and a 35 acre “fishing lake”), a golf course, an equestrian center, a fire and rescue department, and a church all within the gates, Lake of the Woods simply has it all. Whether your passion is boating, water skiing, kayaking, golfing, horseback riding, or simply taking in the breathtaking views from the clubhouse while enjoying a fabulous meal, from your own deck or yard, or from one of the beaches, you won’t be disappointed! Perhaps you’d like a game of bridge or volunteering your time and talents…Lake of the Woods offers more than 60 clubs and/or organizations from which you may choose to become involved. Located in Orange County, we are fortunate to enjoy low real estate taxes. Coupled with home prices ranging from $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 why I love Lake of the Woods!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
Save the date for Sunday, March 6th as the Local Artists of Lake of the Woods showcase their artwork for display to the community. All are encouraged to visit Fareways Café, March 6th between 2pm – 5pm for the first of what will be a series of receptions hosted by the LOW Arts and Fareways Cafe to meet and interact with your local resident artists. The artists will begin displaying their recent creations on the walls of the café starting in March. Fareways Café is located in the LOW Woods Center at 108 Fairway Dr, Locust Grove VA 22508. Artwork will be available to purchase by direct contact with the artists. Come out and enjoy this free reception that will be serving light refreshments and providing live entertainment! Your entertainer for the night is local musician, Scott Stallard playing an acoustic guitar and vocals with a 60s and 70s atmosphere. What a great opportunity to get to know your local artists in the community and fill your home with unique artwork.
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.
Please join the Licata Group at Clearwater Fire-Grill on Thursday, February 24th to help raise funds to provide a specialized service dog for a very special boy, Charlie Wright, a Lake of the Woods resident. ALL DAY at Clearwater on Thursday, February 24th, 10% of ALL food and beverage purchases will be donated to Charlie’s cause. Visit Clearwater after 6pm on this day and you may receive the pleasure of having a Licata Group team member serve you! Stay ’til 8pm and you can participate or egg your friends on to join in singing on the karaoke machine. Clearwater Fire-Grill located at 4276 Germanna Hwy, Locust Grove Virginia 22508, specializes in delicious, traditional American cuisine and is locally owned and operated by a Lake of the Woods resident. If you are unable to attend but would like to show your support, please consider donating to their GoFundMe page, here.
This event is organized and sponsored by The Licata Group EXP Realty LLC and Clearwater Fire-Grille.
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.
The Licata Group team with the assistance of LOW Fire and Rescue 29 will be hosting a Community Shred Day on Saturday, April 30th from 11 AM – 2PM! Just in time for the end of tax season, so salsa on over and safely and securely shred your documents! The Shred-it truck will be located within the Food Lion parking lot across from the Lake of the Woods front gate, near our office at 36111 Goodwin Drive (between AT&T and CVS). Donations are encouraged but not required, as all proceeds will benefit Lake of the Woods Fire and Rescue. Fire and Rescue will be on-site assisting! We love being a resource to our community, so come and shred to your heart’s content! The Orange County Animal shelter will be present with adoptable animals. Bring your appetite, too! The fabulous Taco Tuesday Food Truck will be there selling a delicious variety of Mexican fare.
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 625 Mt. Pleasant Dr! This immaculate, updated, and well-maintained home in Lake of the Woods truly has it all. From the moment you arrive, you will love the inviting curb appeal, circular driveway, and front porch. Upon entering, you are greeted by gleaming hardwood floors, fine finishes, and a sought-after open floor plan. The ample windows in the living room allow the sun to shine in and provide so much natural light. This expansive chef’s kitchen features a breakfast bar, granite countertops, backsplash, skylights, and upgraded stainless-steel appliances. In addition, the open concept style leads into the formal dining room with a fireplace for embracing that romantic dinner you’re planning. An etched glass door opens into a mini bar area, perfect for all your entertainment needs! The owner’s suite is spacious, with French doors to the living room and offers an en-suite bath featuring two separate sink vanities, a walk-in beautifully tiled shower, a luxurious soaking tub. Perfect place to unwind and relax. Heading to the beautiful back yard, grab your favorite beverage and enjoy the privacy, as this is sure to become one of your favorite spots. Not to be overlooked, this house has a whole house generator for peace of mind.
Lake of the Woods, a private, gated, secured community, offers anything and everything you could possibly want. Home to two lakes (the 550 acre main lake and a 35 acre “fishing lake”), a golf course, an equestrian center, a fire and rescue department, and a church all within the gates, Lake of the Woods simply has it all. Whether your passion is boating, water skiing, kayaking, golfing, horseback riding, or simply taking in the breathtaking views from the clubhouse while enjoying a fabulous meal, from your own deck or yard, or from one of the beaches, you won’t be disappointed! Perhaps you’d like a game of bridge or volunteering your time and talents…Lake of the Woods offers more than 60 clubs and/or organizations from which you may choose to become involved. Located in Orange County, we are fortunate to enjoy low real estate taxes. Coupled with home prices ranging from $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 why I love Lake of the Woods!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
Welcome to 313 Westover Parkway! If you are looking for a roomy, open floor plan home with views of #15 Fairway then this is the one! The living room boasts a gas fireplace and high ceilings with 2 skylights that are sure to please the eye as you enter. Formal dining room is adject with chair railings. The kitchen combined with the living room makes entertaining fun with access to the screened in porch and deck, bring your grill! The spacious owner’s suite with an adjoining sitting room is perfect for a home office, with a sliding door that also gives access to the screened in porch. The en-suite bathroom with a soaking tub, shower, double sink is sure to accommodate all your comforts. This home has plentiful closets and storage spaces.
A private, gated, secured community, Lake of the Woods offers anything and everything you could possibly want. Home to two lakes (the 550 acre main lake and a 35 acre “fishing lake”), a golf course, an equestrian center, a fire and rescue department, and a church all within the gates, Lake of the Woods simply has it all. Whether your passion is boating, water skiing, kayaking, golfing, horseback riding, or simply taking in the breathtaking views from the clubhouse while enjoying a fabulous meal, from your own deck or yard, or from one of the beaches, you won’t be disappointed! Perhaps you’d like a game of bridge or volunteering your time and talents…Lake of the Woods offers more than 60 clubs and/or organizations from which you may choose to become involved. Located in Orange County, we are fortunate to enjoy low real estate taxes. Coupled with home prices ranging from $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 why I love Lake of the Woods!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
0 sold below $250,000.00 1 sold between $250,000-299,999; 3 sold between $300-349,999; 2 sold between $350,000-399,999; 6 sold between $400-499,999; 1 sold between $500,000-$999,999; 2 sold over $1,000,000!
13 Active/Coming Soon Listings for Sale 25 Homes Under Contract 15 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 contact Pat Licata
