In May, 19 homes sold in Lake of the Woods. 1 sold between $130-200,000; 7 sold between $200-249,000; 7 sold between $250-299,000; 4 sold between $300-400,000;
44 Active Listings for Sale 61 Homes Under Contract 93 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 April, 20 homes sold in Lake of the Woods. 2 sold between $130-200,000; 7 sold between $200-249,000; 5 sold between $250-299,000; 6 sold between $300-400,000;
66 Active Listings for Sale 48 Homes Under Contract 33 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.
The continued inventory shortage experienced by most regions of the country was evident in Lake of the Woods again in 2019. Listings increased only 6.4%, from 373 in 2018 to 397 in 2019, while closed sales were up 28.6%. New construction accounted for 30 of the 301 sales. The median sold price increased a healthy 8% year over year from $249,900 to $270,000.
Of the 301 total sales reported in 2019, only 5, or 1 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.
So let’s look at our steady growth over the past five years:
In 2015, there were 247 sales, with 15% being distressed.
Those total sales represented almost a 30% gain over 2014, and the median sales
price was $210,000.
In 2016, the market was quite flat compared to 2015 in
regards to total sales, which held at 243 with a decrease in distressed sales
to 11.1. However, 2016 saw the median price jump to $225,000, a healthy 7.1%
increase.
In 2017, there were 294 total sales, a whopping 21.1%
increase over 2016 with only 5.8% being distressed. The median sales price
climbed to $239,000.
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 127 in 2015 to 57 in 2019.
It’s also telling to note that a significant number of lots
have sold in the past five years. From
January 1, 2015-Decemeber 31, 2019, 184 lots exchanged, with 41 occurring in
2019, down from 55 in 2018. There simply aren’t that many lots left in LOW.
New construction has been climbing, as well. 2015 realized
41 new construction starts; in 2016, there were 28; in 2017, there were 30; in
2018, there were 34; and in 2019, there were 48.
In 2020, according to Freddie Mac and the Mortgage Bankers
Association, mortgage rates are expected to stay within the 3.7-3.9% range.
The prognosis for 2020, as it was in 2019, is excellent! In LOW, there are 57 homes active on the market as of 1/14/2020. In January of 2018, there were 62. Low, stable rates and hopefully more inventory should propel us to experience healthy sales and appreciation.
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 January, 12 homes sold in Lake of the Woods. 3 sold between $130-200,000; 1 sold between $200-250,000; 4 sold between $250-300,000; 2 sold between $300-400,000; 2 sold above $650,000.
49 Active Listings for Sale 30 Homes Under Contract 12 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 December, 17 homes sold in Lake of the Woods. 4 sold between $200-250,000; 5 sold between $250-300,000; 6 sold between $300-400,000; 2 sold above $650,000.
60 Active Listings for Sale 20 Homes Under Contract 301 Homes Sold since January 1, 2019.
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.
Buying a property in Virginia can be a great experience if you are lucky enough to find the professionals who can help you do it. Virginia is a state where rural and urban make a unique scene making sure that you can find whatever you search for. However, bear in mind that there is a long way from having an idea to move to Virginia to actually making the final decision and signing the necessary papers. There are some specific rules you need to be acquainted with, so you will need some help from a realtor. Here are some things that every real estate agent in Virginia needs to know.
Before
hiring a realtor
Here are some things that you
should know about working with a real estate agent in Virginia:
Let’s start with some good news – usually, the seller pays the commission which is divided between a seller’s and a buyer’s agent.
You should always check whether the agent you want to hire is licensed to do the job. Don’t rely on customer reviews on websites only and always ask for personal referrals.
Before you hire a real estate agent, you should try to figure out what you are actually looking for. Make a list of all the characteristics that you expect your new home to have. That will make yours and your realtor’s job much easier. While at it, you should decide what you are going to do with the possessions you are not planning to relocate. This might seem like thinking too far ahead, but it isn’t. Once you find the home that you want to buy or rent you will be too busy dealing with paperwork, credits, and inspections. The solutions for storing furniture in Virginia will probably be the last thing on your mind. A tip: Find and book them in advance!
Buying a property is probably one of the greatest investments you’ll have
Every real estate agent in Virginia
needs to know the statistics
Numbers and figures are something that every real estate agent just has to know
no matter where he/she lives and works. Virginia is a huge real estate
market with a lot of great listings so that everybody can find the property
they are searching for, be that a flat, an urban home, a ranch or a vacation home.
The Commonwealth of Virginia has it all!
At the moment, Virginia real
estate market is very hot. The average time that a home stays on the market
before being sold is 64 days. The hot market also means that over the past
year, the prices of listings have gone up 4.3%. The median home value in
the state at the moment is $264,200. Moreover, the predictions are that,
within the next year, the price will rise as much as 2.8%. The median
value that the sellers in Virginia expect to get for their property is $310,325.
On the other hand, the average amount that people are paying for their home in
the state is $269,900.
The average rent in Virginia is
somewhere around $1,700 per month.
A
good realtor is expected to know the history of listings they are showing
Buyers are curious, especially when they are about to make such an investment
as buying a property. And, who can blame them? Besides the common facts that
the realtor is expected to know about the property he/she is trying to earn on,
here are some of the questions that buyers in Virginia tend to ask:
Was this property the site of a meth lab and if so, was it cleaned properly and in accordance with the regulations?
Are there any defects to the drywall in the house?
Is this place within the area of military air installation? – It might sound silly, but these are the questions that a real estate agent in Virginia just has to be able to answer.
Whatever you are searching for, a good real estate agent in Virginia will help you find it
And,
a lot more
More details about residential
property disclosure can be found within Residential Property Disclosure
made by the Virginia Department of Professional and Occupational Regulation.
Plus, a good real estate agent would have to at least know to point their
clients in the right direction where they can find the answers he/she cannot
give them directly.
One of the qualities of a realtor
that cannot be learned by heart is just being friendly and welcoming to the
newcomers wanting to buy a property and stay in Virginia. They will like to
know more about the neighborhood and the county wherein they are searching for
a place. A good real estate agent has to have some additional info up their
sleeve. For instance, they should be informed about the top things to do in Orange County if that is the area of the buyer’s interest. Or, they
should have some basic data on local schools in the neighborhood.
A
real estate agent in Virginia needs to be familiar with paperwork a buyer needs
to go through
Whether you are a Canadian buying a property in Virginia, or a local citizen moving to another street, you will have a lot of paperwork to handle before becoming an official owner of a Virginia property. What is specific about the real estate market in this state is that a lot is left to the buyer to do. That is where a helping hand from the good realtor is priceless. Other than signing the purchase agreement, you will have to deal with taxes and mortgages. A realtor who always has a good piece of advice when needed is worth their weight in gold.
There are some more things that need to be done in order for a buyer to completely disclose the purchase. They have to provide the inspection report after having a house inspection done. This is done in order to identify the problems with pests, structure, drainage, mold, electrical, plumbing, heating, etc. Ok, how can a real estate agent help me with that? – you might be asking yourselves. Well, after you get the inspection results, a realtor can help you negotiate the price with the seller.
You will have to sign a lot of papers to disclose the purchase
Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Norther 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.
If you’re thinking about buying a home, you’ve probably heard, “location, location, location!” on repeat. Finding the perfect city or town is one thing, but you’ll need to take it a step further. The right neighborhood matters more than you think, so before you start your search, we have some tips to help you find the perfect spot!
Do Your Research
Before you start driving through prospective neighborhoods, you’ll want to do some research at home first. Finding the right place to live can be time-consuming, but some quick online searches can help narrow down your options. Many agents also spotlight certain neighborhoods on their website and tend to offer more in-depth guides—as well as more listings and home-buying tips.
After doing your initial research, you’ve probably narrowed your list down to a few neighborhoods. Now it’s time to delve deeper and look at these places by the numbers. It’s worth looking at stats like crime rate, HOA fees, and average property taxes. You might want to start your search with sites like Neighborhood Scout and City-Data—these sites give you localized data on demographics, schools, and more.
Scope Out What’s Around
While the actual neighborhood might seem perfect, what’s around matters a lot, too. Remember, you’re buying more than just a home—you’re finding a new place to thrive. If you’re looking for convenience, a community far-removed from amenities you love might not work. Be sure to take your commute into account, as well as the driving distance to places you go all the time.
School districts also play a big factor in which area you choose, especially for your kids. Even if you don’t have children, home prices in good districts are consistently higher than others, so it’s still something you should take into account. Want the inside scoop? Compare options by looking up which schools serve a community and exploring their ratings on sites like Niche.com.
Take a Stroll
Now it’s time for some field research! Once you’ve picked some neighborhoods that seem like a good fit, go do some exploring—you’ll want to do more than just drive around, though. Get out of the car and take a stroll during different times of the day! This is a fantastic way to meet potential neighbors and see the condition of homes.
You’ll want to ask yourself some crucial questions during each visit. How well do residents maintain their homes? Do you see a lot of people outside, or does everyone seem to keep to themselves? Is there any common space or amenities you’ll want to use? This is the best way to picture yourself living in an area before actually committing to a home.
Narrow Down Your Options
If you don’t have a clear winner in your head after you visit each community, it’s time to down and weigh the pros and cons. You should also evaluate the market—there might not be a home for sale that suits your needs in the neighborhood you love, so consider all of your options.
If you have any other questions, be sure to reach out to a real estate professional. They’ll use their expertise to help you make an informed decision, and can also show you spots you might have missed!
Ready to Find the Neighborhood of Your Dreams?
No matter where you are in your home search, we’d love to help make the process easier. We’ve got you covered, whether you’re still searching for the right community or are ready to look at homes. Give us a call today so we can chat—we can’t wait to be your local experts!
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.
The
first rule in home selling is to know your typical buyer. What most buyers would want to have in their homes is what
will eventually sell it. How soon – this depends on how well it fits their
needs. While you can’t fulfill everybody’s wishes, some features make your home
sell faster than others.
What Buyers Want
You
don’t have to get inside your buyer’s mind. Luckily, tips for selling a home are numerous and easy to find. They are based on surveys
and statistics and are usually related to a specific market. While steam ovens
and floor heating may be a good add-on to an upscale home, those upgrades
simply won’t pay off for most sellers. What the majority of people want is a
reliable, good-looking, practical, comfortable, and affordable home. The
most common features that would make your home sell faster are
Curb Appeal
Ample Storage Space
Sufficient Bedrooms
Eat-in Kitchen
Fresh Paint
Energy-efficient Appliances & Windows
Off-road Parking
Renovated Bathrooms
Hardwood Floors
Modern Lighting
Start With Entrance
The first step to boost the appeal would be to declutter your home, which also applies to your yard if you have it. If the exterior of your house is impressive enough, only then the prospective buyer will come inside and check the rest. To sell your home faster, you need to show to your buyer that you took good care of your home. Nothing shouts good maintenance like a neat exterior.
Outstanding curb appeal will make your home sell faster
You
might not have enough space for a garden, however, even a small secluded patio
with a pair of garden chairs or loungers and potted plants can create the feel
of a cozy getaway that most new homeowners look for.
Room for the things
There
aren’t many who can say that they have too much storage space. Those who need
extra storage simply call Verified Movers
and rent a storage facility but there is another option. With the help of
experts, it is possible to create extra storage and exploit otherwise
underutilized space. Additional space for belongings is especially important to
families with kids because they have plenty of useful things they don’t want to
dispose of even if they’re used only occasionally.
Walk-in pantry
In case there is enough extra space, usually 5×5 feet, creating a walk-in pantry in the kitchen is a big bonus. Non-perishables stored at the arms reach is something most would prefer. Even more so because they can save on the deals of bulk purchases. Walk-in pantries are affordable add-ons highly appreciated by families.
A kitchen with a walk-in pantry is a great asset
Walk-in closet
On
the other hand, walk-in closets are added to master bedrooms and are perfect
for empty-nesters in love with neatly organized apparel, jewelry, and
accessories. This feature can be made as a part of the existing bedroom or
placed in a separate, smaller room. Organizers and many shelving units are
worth their price. Walk-in closets are perfect for couples who share storage
space and are highly ranked among other features.
That extra bedroom
Nothing
attracts buyers more than a cozy extra bedroom. A guest bedroom is best suited
for loft space. After all, having a new bedroom in the attic is much better
than blocking the garage. If you opt for the renovation of your loft space,
consider adding a new small bathroom or at least a WC.
Hearth of your home
Making an eat-in kitchen would leave a good impression on families with children. Resurfacing cabinets and repainting walls is the least you can do to make your kitchen more attractive. A new trend and a highly popular and affordable one is adding lighting under cabinets. The effect is to give your kitchen depth and visually make the ceiling higher.
There
is nothing as attractive as new appliances so the first and most important on
the list should be a fridge. Prospective buyers are impressed with spacious and
clean refrigerators as this is the appliance they will use the most.
A new coat
The
most affordable and yet the best investment is fresh paint. Repainting your
walls and ceilings and adding a new coat on the outside leaves a good first
impression. Natural lighting is one of the most beneficial features a home
could have. Bright walls that reflect natural light will make space visually
larger and have a good psychological effect on visitors. If you wish to
attract buyers moving to Virginia from another state, for example, you should stick to neutral colors, appealing
to many.
Energy-efficient walls, windows, and appliances
If nothing else makes people care about the environment it’s the savings they secure by installing energy-efficient windows, adding insulation to their walls and purchasing energy star rated appliances. Any of these features would greatly appeal to millennials. They are both environmentally and financially conscious. Keeping the heat inside will help them keep their cool, too.
Room for your car
It is difficult to imagine getting anywhere without a car nowadays and having an (at least one) parking slot is a big asset to a home. If your garage space has been repurposed, make sure that you keep at least one off-road parking slot.
One of the first things buyers ask the real estate agents is if there’s a garage/parking space available. You too might need to hire a lawyer or a real estate agent if you’re buying a new property at the same time you’re selling. A garage can serve as additional storage and as such is indispensable.
Fresh & Clean
A
tidy and crisp bathroom is a feature no one is immune to, and refurbishing one
is a must. A bathroom is perhaps the only room in the house that is easy to
look luxurious and impressive with a relatively small investment.
Hardwood floors
Hardwood floors are durable and lasting and as a feature, they appeal to everybody. And why not; they are easy to maintain and keep clean.
Interior and exterior lighting
Modern exterior lighting is an add-on that sets your house apart. While an exterior illumination boosts your curb appeal, interior lighting is an affordable feature that will make your home sell faster.
Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Norther 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.
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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.
In August, 35 homes sold in Lake of the Woods. 8 sold under $200,000; 8 sold between $200-250,000; 8 sold between $250-300,000; 7 sold between $300-400,000; 3 sold between $400-550,000; and 1 sold above $750,000.
64 Active Listings for Sale 35 Homes Under Contract 214 Homes Sold since January 1, 2019.
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.
