The best is yet to come at 116 Lee Circle, boasting 96 ft of waterfrontage on the main lake! Whether you renovate or begin with plans for your dream home on this almost half-acre, fantastic lot, you’ve found your perfect place at the lake! An incredible bonus is the size of the lot; not only is it a perfect waterfront lot, but it is also expansive and ready for you to create your perfect water oasis! Imagine the memories you’ll make experiencing spectacular sunsets, jumping in the lake from your dock, or simply relaxing at the water’s edge. Fun-filled days with family and friends await if you prefer a more active day on the water—bring your boat, jet ski, and/or kayak! Ready for some off-water fun? Lake of the Woods has it all!
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 mid-$100,000s 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 Fredericksburg, Stafford, Orange, Locust Grove, 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
This stunning, stone town home, just steps from the Potomac River, Over 3,800 sq. ft, including a 2-Car Garage, open floor plan with walls of windows, high ceilings, and gleaming hardwood floors. The main level features an inviting foyer, a family room with floor to ceiling stone fireplace and a french door to a lovely deck with amazing views. The family room opens into the gourmet chefs kitchen with center island, breakfast bar, breakfast nook, pantry, granite, custom backsplash, stainless steel appliances. The angled staircase leads to the upper level with Owner’s Suite with a wall of windows, gas fireplace and an en-suite bath with dual vanity, separate shower, soaking tub and walk in cedar closet. The lower level features an incredible great room with gas fireplace with access to a beautiful patio and another bedroom and full bath. You will love River Creek and all the Amenities – Golf Course, Clubhouse with restaurant and fitness center, pools, tennis courts, walking trails along the Potomac River, Kayaking, Basketball Courts, Tot Lots and more!
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 you decide to have kids, your housing priorities change. A small and cozy apartment may be perfect for a single person or a couple, but life with kids in a minimal space is more than challenging. Growing families will often outgrow their previous homes and decide to move to a better one for their needs. Searching for your dream house is exciting, but be ready to make many important decisions about the next chapter of your life. Here’s what you need to know about finding an ideal home when starting or growing a family.
Timing
There is no universally right timing for buying a home. Many millennial homebuyers are currently searching for homes for their families. Some decide to buy before they have children, while others wait. Everything has some pros and cons:
If you buy a family home before having kids, you’ll have room to grow, and maybe you’ll be more relaxed. You won’t have to move while expecting a baby and going through a rollercoaster of emotions that all parents-to-be face. The downside to this timing is that you might not know all your parenting decisions yet, which may affect the home buying process.
If you wait until your baby is on its way, you may have a better picture of what you want for your kids. However, finding a home at that time and organizing a relocation may be very stressful for a pregnant woman.
Waiting until you have one or more kids will give you time to better understand the family’s needs and priorities. However, looking at homes while your kids are young can be overwhelming.
Whether you find yourself in any of these situations, just have in mind that finding an ideal home when starting or growing a family isn’t easy, but it’s worth any trouble.
Set your budget
Set your price range and know what you can afford. Think carefully about many factors. For example, if you’ll have more kids, will both parents be able to continue to work, and you’ll still have two incomes? What is your usual monthly budget? A large home will require more investment and more maintenance. The bigger the house, the higher the electrical bills and other utility bills will be. That’s why you need to consider energy-efficient appliances when home-hunting.
Location
No matter the timing, the budget, or the location, moving to a new home while having to juggle family and all other responsibilities will be challenging. What is important is that you choose a good long-term investment and consider all the factors before deciding. Probably some compromises will have to be made, so discuss everything together with your partner.
The main thing you want for your kids is a safe neighborhood with a family-friendly community and amenities. Research and check the quality of schools in the potential neighborhood, crime rates, and demographics. Then, drive around that area. Make a visit after school hours and on weekends. Do you see families with children? Are there many playgrounds, swing sets, or basketball hoops? Are there kids playing outdoors? Check nearby recreation and entertainment options – parks, recreation centers, pools, fitness centers, museums, etc.
Home size
When deciding on the home size, first create a list of your must-haves and nice-to-haves. If you know for sure that you’ll only have one child, a home with two bedrooms is desirable. However, if you’re expecting a second or a third child, look for a home with at least three bedrooms. Your children can share a room, but while one of them is still a baby, it may disturb the older brother/sister’s sleep. Think about all aspects, the present and future.
When your kids grow and become teenagers, they’ll probably need separate bedrooms and a place where they can hang out with friends. Furthermore, more and more people work remotely, so many young professionals are looking for a home office in a house. Think if you will need a guestroom. Pets are also members of a family and have needs. So consider the outdoor space too. A garden will also be crucial for your family gatherings during the summer, such as barbeques, birthday celebrations, family dinners, etc.
Kid-friendly features
Finding an ideal home when starting or growing a family includes finding as many possible kid-friendly features. When looking at houses, you need to answer all of these questions:
Are the doors, windows, and stairs safe enough? Will your family be safe from break-ins or possible accidents? Stairs must be safely gated for the security of your baby and toddler.
Is there enough storage space? More kids – more stuff. As kids grow, they’ll have more and more clothes and toys, not to mention bicycles, various requisites, and sports equipment. You need as much closet space as possible to be able to store all their items.
How big is the yard? Kids need to spend time outside in the fresh air. A house with a big, fenced yard will ensure they have a safe place to play.
Is there a bathtub? Look for a house that has at least one spacious bathtub; children love them.
Will you have a laundry room? A laundry room is actually one of the top home features for 2021. Everybody who has children needs to deal with lots of dirty clothes. Your washer and dryer should be conveniently placed in a laundry room that isn’t adjacent to the children’s room. They might wake each time the washer and dryer are on.
Is there an open-floor space? A kitchen should overlook the living room, so you’ll be able to cook while your kids are playing. Open spaces are great for family bonding, game nights, and movie nights.
Is a home kid-proofed? When expecting a child, baby-proofing is necessary. Install outlet covers and cabinet stops and replace outdated electrical systems.
Will you have enough space for parking? Is there a garage? This will all influence your everyday life.
Relocation to your dream home
Once you find all (or the majority) of these features in a home that you can afford, you can start the homebuying process. When the home is yours, the only thing left is to hire relocation experts that are right for you and prepare for a move. Pack your stuff carefully and methodically, and rely on a babysitter if necessary. It will make the situation easier for all of you.
Final thoughts
With all of this in mind, we hope that finding an ideal home when starting or growing a family will be successful and as quick and easy as possible. Once you move in, you’ll have countless happy moments and make thousands of happy memories together.
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 selling a house, most homeowners hope for a quick and profitable transaction that puts them in a position to make a great move. If you’re waiting for the best time to win as a seller, the market is calling your name this spring. Here are five reasons why this is the perfect time to sell your house if you’re ready.
1. There’s high demand from homebuyers.
Buyer demand is strong right now, and buyers are active in the market. ShowingTime, which tracks the average number of buyer showings on residential properties, recently announced that buyer showings are up 51.5% compared to this time last year. Daniil Cherkasskiy, Chief Analytics Officer at ShowingTime, notes:
“As anticipated, demand for real estate remains elevated and continues to be affected by low levels of inventory…On average, each home is getting 50 percent or more requests this year compared to January of last year. As we head into the busy season, it’s likely we’ll push into even more extreme territory until the supply starts catching up with demand.”
When your house is positioned to get a ton of attention from competitive buyers, you’re in the best spot possible as the seller.
2. There aren’t enough houses for sale.
Purchaser demand is so high, the market is running out of available houses for sale. Recently, realtor.comreported:
“Nationally, the inventory of homes for sale in February decreased by 48.6% over the past year, a higher rate of decline compared to the 42.6% drop in January. This amounted to 496,000 fewer homes for sale compared to February of last year.”
The National Association of Realtors (NAR) also reveals that, while home sales are skyrocketing, the inventory of existing homes for sale is continuing to drop dramatically. Houses are essentially selling as fast as they’re hitting the market – in fact, NAR reports that the average house is on the market for only 21 days.
It’s this imbalance between high buyer demand and a low supply of houses for sale that gives sellers such an advantage. A seller will always negotiate the best deal when demand is high and supply is low. That’s exactly what’s happening in the real estate market today.
3. You have a lot of leverage in today’s market.
Clearly, many more people are interested in buying than selling this spring, creating the ultimate sellers’ market. When this happens, homeowners in a position to sell have the upper hand in negotiations.
According to NAR, agents are reporting an average of 3.7 offers per house and an increase in bidding wars. As a seller, this means the ball is in your court – so much so that you can use your leverage to negotiate the best possible contract. Demand is there, and now is the perfect time to sell for the most favorable terms.
4. It’s a great way to use your home equity.
According to the latest data from CoreLogic, as of the third quarter of 2020, the average homeowner gained $17,000 in equity over the past year, and that number continues to grow as home values appreciate. Equity is a type of forced savings that grows during your time as a homeowner and can be put toward bigger goals like buying your next dream home.
Mark Fleming, Chief Economist at First American,notes:
“As homeowners gain equity in their homes, they are more likely to consider using that equity to purchase a larger or more attractive home – the wealth effect of rising equity. In today’s housing market, fast rising demand against the limited supply of homes for sale has resulted in continued house price appreciation.”
5. It’s a chance to find a home that meets your needs.
So much has changed over the past year, including what many of us need in a home. Spending extra time where we currently live is enabling many of us to re-evaluate homeownership and what we find most important in a home.
Whether it’s a house that has the features suited to working remotely, space for virtual or hybrid schooling, a home gym or theater, or something else, selling this spring gives you a chance to make a move and find the home of your dreams.
Bottom Line
Today’s housing market belongs to the sellers. If you’ve considered making a move but have been waiting for the right market conditions, your wait may be over. Let’s connect so you’ll be positioned to win when you sell your house this spring.
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
Before you list your home, it’s crucial to understand how much a buyer would be willing to pay for it.
Your agent will use a variety of factors to determine a competitive list price—and some of them might be a little unexpected.
If you’re looking for a fast and accurate way to price your home, we’re here to help. Contact us today for a complimentary estimate!
4 Surprising Factors That Go Into Pricing a Home
Pricing your home to sell quickly—even in today’s hot real estate market—is all about balance. You want to price low enough to attract potential buyers, but high enough to profit from your equity. And while it may be tempting to use automatic estimators, it’s best to leave the number-crunching to your agent.
Need help determining the perfect price? Here are a few factors your agent will take into consideration when valuing your home.
Your home’s size and condition
This may seem like a given, but a home’s size, condition, and features play a huge role in how much it’s worth. Before you list, your agent will perform a walkthrough of your home to thoroughly evaluate its saleability. If your space is move-in ready and well-maintained, you’ll have more luck setting a higher asking price.
Many sellers are under the impression that big-ticket upgrades will drastically increase their home’s value, but this isn’t always the case. Before you make a significant change, ask your agent for their professional opinion. Believe it or not, smaller touches (like updating hardware or repainting) can have a better return on investment than a full-scale renovation.
Location
Real estate is all about location, and there are a few general factors that tend to boost property values. Typically, agents will price a home based on local schools, nearby employment opportunities, and proximity to amenities. Houses in more desirable neighborhoods or communities also tend to command a higher list price.
Above all, most buyers are looking for homes that offer the perfect blend of privacy and convenience. Being close to (but not right next to!) highways or public transportation is another huge plus.
Other recently sold homes
One of the best indicators of your home’s value is the sale price of other listings in your neighborhood. Your real estate agent should conduct a comparative market analysis—abbreviated as CMA—to see how your home stacks up against the competition. By looking at recently sold homes that are similar to yours, they can calculate a fair and accurate price.
After your agent has assessed your home, they’ll likely send you a CMA report that contains their projected price, along with data from other comparable homes. A great agent will also be available to answer any questions, too!
Current market trends
Even if your home is in perfect condition, in the best location, and boasts quite a few upgrades, the current state of the market can have a huge impact on its overall value. And in today’s seller-driven market, homes are now worth more than ever before.
Just last year, home prices surged by 15%. To put those numbers into perspective, that’s a $45,000 increase for a $300,000 home. If you want to take advantage of these unbelievable conditions, now is the time to list—and we’d love to help!
Get Your Updated Home Value
Whether you’re just curious or are ready to sell, you can trust our team to calculate your home’s true market value. Request a free home valuation today, or reach out to us to learn more about 2021’s hot real estate market. There’s never been a better time to list!
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
Automatic estimator tools are popular amongst homeowners and sellers, but they aren’t always the most reliable.
In some instances, these estimators can be off by thousands of dollars due to inaccurate data.
If you’re looking for a better way to determine your home’s market value, give us a call to get started!
Exposing the Inaccuracies of Automatic Home Estimators
If you own a home, you’ve probably wondered how much its value has increased since you first moved in. And while using an online estimator might seem convenient, you could end up with some pretty inaccurate numbers—and that’s bad news for sellers in today’s competitive market.
Want to make the most of your equity and find out how much your home is really worth? Here’s why working with a local real estate agent will always be better than trusting an “automatic” estimate.
Most estimators rely on user-reported data or algorithms
Many homeowners believe that instant estimates are similar to a professional appraisal, but this simply isn’t the case. To generate a possible selling price, these real estate sites rely on potentially outdated algorithms that use property tax assessments, historic sold data, and user-reported information. Some estimators even use AI to scan photos of your home, which leaves ample room for error.
Estimators won’t take recent improvements into account
If you’ve made any larger improvements to your home, they may not get calculated into your instant estimate. Generally, most estimators will include any permitted work that’s noted on your latest tax assessment. But if you completed a project that didn’t require permits, it probably won’t influence the estimate.
For example, if you recently finished a kitchen renovation and didn’t have to take out a construction permit, an estimator could value your kitchen based on how it was before any upgrades. And if you rely on these incorrect numbers, you could shortchange your equity without even knowing it!
Your estimate could be off by thousands of dollars
Perhaps the biggest issue with automatic home estimators is their overall accuracy—or lack thereof. While most claim to be within 10% of a home’s real market value, that 10% could equal tens of thousands of dollars. When you look at the numbers, that’s a potential difference of $30,000 for a home worth $300,000!
Above all, it’s important to remember that these estimators will never substitute a professional valuation. If you’re really serious about selling your home or learning its value, it’s better to work with a local real estate agent instead—and take an estimator’s opinion with a grain of salt.
Bottom Line: Only Price Your Home with a Local Agent
Want to know your home’s true value? Don’t trust a computer—start by consulting your local real estate agent! As area experts, we know how to calculate just how much your home could sell for in today’s competitive market. We can even take your renovations and recent sold data into account for an added level of accuracy.
Get Top Dollar for Your Home
Whether you’re thinking about selling your home or just want to know its value, you can trust us to help with all of your real estate needs. Contact us to request a complimentary home valuation, or just give us a call with any questions—we’d be happy to chat!
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 20233 Mountain Track Rd! If privacy is what you crave then this beautiful home is the one! Perfectly situated on two acres where you can watch the deer graze and the birds sing. Once inside you will love all the new flooring and spacious light-filled living room with a fireplace to keep you warm on those cold nights. The kitchen is perfect with plenty of counter space for cooking and baking, and you will love the breakfast bar and dining area. The owner’s suite is spacious with multiple closets, an en-suite bath boasting double vanities, a soaking tub to melt the day away, and a separate shower. Enjoy sitting on your deck taking in all the sounds of nature and grateful for all the privacy. Plus the detached oversized 1 car garage and two-car carport are a bonus making this home in the country the one! For more information on 20233 Mountain Track Road, 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
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
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.
In November, 20 homes sold in Lake of the Woods. 1 sold between $130-200,000; 4 sold between $200-249,000; 4 sold between $249,900-299,000; 9 sold between $300-399,000; 2 sold between $400-599,000;
18 Active Listings for Sale 51 Homes Under Contract 286 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.