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.
Whether you’re looking to buy a house for aging in place or to accommodate your current accessibility needs, there are so many things to consider as the owner of a home-based business. In addition to looking for a house with wide hallways and doorways, zero-step entrances, and other accessible features, you’ll need plenty of open space for your home office.
The Licata Group can help you with your search. Here are more tips to buy an accessible home that accommodates you and your home-based business.
What to Look for in Your New Home
As you prepare to buy an accessible home for living and doing business, an experienced real estate agent will be an incredible asset. Your agent can help you to search for homes that meet your budget, location preferences, and accessibility needs — while also keeping the needs of your business, clients, and employees in mind as well.
Depending on your personal and professional needs, several types of home features to look for include the following:
A spacious room with an open floor plan, wide door, lower light switches, and good lighting that can be used for your home office
A fully accessible bathroom that’s located near the office
Single-story floor plans
Non-slip flooring
Doors with lever-style handles
Ample parking for guests and employees
Space for a waiting room that can be used by your guests
If you can’t find a fully accessible home that accommodates the needs of you and your business, you could modify the property later on. MoneyGeek offers some tips on modifying a home for accessibility purposes and paying for the renovations with loans and grants.
Accessible Home Office Essentials
After buying a home that accommodates you and your business, you’ll need to create an accessible office space. Wheel Chic Home shares some tips on choosing an accessible space for an office and furnishing it with an adjustable desk and chair, shelves, and multiple lighting sources. Some other accessible office essentials may include:
If buying a new house isn’t the right choice for you and your business, you could modify your existing home for accessibility purposes — or build an accessible office addition. But if you’re just now getting your business up and running, you’ll need to take a few things into consideration before deciding whether to renovate your existing home.
For starters, you’ll need to check local zoning ordinances to determine whether home-based businesses are permitted in your city or county of residence. And to qualify for the home office deduction at tax time, you’ll need to ensure that your new workspace meets the requirements of the Internal Revenue Service (IRS).
In addition, you’ll need to choose a business structure for your home-based business. A limited liability company (LLC) is one type of business entity to consider when forming a home-based business as this type of structure offers tax advantages, limited liability, a simple filing process, and greater flexibility in how the business is managed.
Moreover, there are a few ways to form a limited liability company, including online, by yourself, or with help from an attorney. However, attorney’s fees can be costly, and you’ll need to review local LLC rules and regulations if you plan on filing yourself. For many, filing online with a business formation service can be the simplest, quickest, and cheapest option.
In Conclusion
As a home-based business owner with accessibility needs, there are so many things to consider when buying a house to accommodate you and your business. But even if you can’t find an accessible home that has everything you want or need, try not to be discouraged. You can always make a few accessible home modifications in the future!
Are you looking to buy an accessible home that meets your personal and professional needs? Contact The Licata Group to begin your search for the perfect home! 540-388-2541
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 October, 24 homes sold in Lake of the Woods. 1 sold between $130-200,000; 4 sold between $200-249,000; 6 sold between $249,900-299,000; 9 sold between $300-399,000; 2 sold between $400-599,000; 1 sold between $500-699,000; 1 sold over $700,000+
27 Active Listings for Sale 51 Homes Under Contract 264 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.
After contacting The Licata Group, you’ve probably realized the number of options buyers have in today’s market. The most obvious choice you’ll need to make is the one between new home vs resale home. Being able to choose the floor plan and design options has its perks. On the other hand, comfortable neighborhoods and historic houses with wide front porches appeal to some home buyers. To help you decide which type of home is right for you, here are some of the important factors you need to consider.
New home vs resale- it’s not only about your preferences
Owning a house where other people have lived is something many people want to avoid. However, new constructions might lack the charm of resale homes and stories that they tell. However, you need to remember that buying a home is not only about preferences. As both options have their advantages and disadvantages, let’s explore the practical aspects of buying and owning either of them.
Reselling or living in a resale home
The question here is whether buying a resale home is a wise investment or not. First of all, you’ll spend less money on a resale property than on a new house. As a result, don’t expect to get a large profit when you decide to sell your resale house. So hold onto it for some time, and then resell it. But, if you plan to buy and live in a resale home, it’s probably an excellent investment decision, provided that it meets other factors as well.
The price of your house
New houses come with a high price, compared to pre-owned homes. And resale homes don’t need to be that old; they can be less than 7 or 8 years old. If you find a relatively young home at a decent price, then you might be getting the best value for your money. And with the rest of your budget, you can have your belongings transferred from one of the surrounding states. Maybe it’s time to provide yourself and your items with a moving experience you know you deserve.
However, keep in mind that while new homes usually cost more than 20 percent more than resale homes, the latter might come with a potential downside. While they are initially less expensive, they might be more costly in terms of utilities and maintenance.
Are resale homes sustainable?
If you’re buying a newly-constructed house, you can expect it to match the modern-day sustainable construction standards. While pre-owned houses might not have been built by these standards. Insulation, the quality of bricks, natural lightning, and other factors affect the price of utilities and maintenance costs. That’s not to say that you can’t use modifications and fixtures to bring an older home up to the mentioned standards. However, you’ll need to determine the budget and set aside the extra amount of money for this purpose.
Appliances
Some building companies include refrigerators, dishwashers, and similar new appliances when building a new house. In case these are not already included in the price of your new home, you might still be able to roll this cost into your mortgage. Alternately, pre-owned homes might come with outdated appliances that you’ll need to replace.
Design and floorplan choices
If you’re building a new home, you get to choose not only the colors but also floorplans and design. While you can deal with the intense colors in the pre-owned homes by repainting, floorplans and other design changes require extensive renovations. Also, changing flooring, cabinetry, or even carpeting, can be expensive. Unless your budget can support this kind of work, you’ll have to accept your resale home as it is.
Storage space
New homes usually come with floor plans designed to fit all of your belongings. Some of the convenient features include cabinets with pull-out shelves, garage space options, and walk-in closets. Older models of resale homes might have limited storage space. One way to solve this problem is to contact Excalibur Moving and Storage and inquire about the storage options. Another way to deal with this is to renovate the house and remodel it to suit your needs.
Pre-owned homes are eligible for home loans
You shouldn’t forget that banks also offer loans for resale houses. However, the bank will need to conduct the technical verification of the property to ascertain the condition of the home. Know that bank will not lend more than the property value stated in the sale deed. And the loan component will depend on the policy of the bank and the age of the house.
Verifying pending payments
First-home buyers might forget to do all the necessary verifications. It’s essential to check for pending payments and taxes for the pre-owned property. Ensuring that there are no dues or unpaid bills on the property will save you from a lot of potential trouble in the future.
Legal documents
You’ll need to thoroughly verify the legal documents when buying a pre-owned home that’s older than 20 years. Also, the property must have clear titles. You need to obtain the sale deed, purchase agreement, a copy of the builder buyer agreement, as well as no objection certificate. Documents that prove the ownership of previous owners are also required.When choosing between new homes vs resale homes, it’s not hard to notice the pros and cons to both. Important aspects to keep in mind, for starters, are the costs of your home. However, think about the big picture, benefits or expenses you’ll have to face both in the future and now. That’s how you’ll be able to make an informed decision. If you have found the right home for you, it’ll be much easier to settle down in a new city. Good luck with your search!
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
“Accessible” and “dream home” aren’t two words that typically go together, but as home builders embrace universal design, it’s becoming easier to find homes that are both accessible and beautiful. If you’re a home buyer with a disability or are simply looking for a “forever home” that you can live in through every stage of life, read this guide to learn how you can buy an accessible home.
Buying an Accessible Home
There are lots of reasons why you might want an accessible home. Accessible homes enable independence for seniors and people with disabilities. Many accessible features also make daily life easier for people from all walks of life, whether it’s a parent pushing a stroller or carrying arm loads of groceries into the house.
Even if you don’t need an accessible home today, it’s smart to consider accessibility in your home purchase. Needs change over time, and buying for accessibility today ensures you can live in your home for years to come.
Along with accessibility needs, you’ll also need to consider your budget (Lake of the Woods home sales average $285,000) and which type of mortgage fits your finances best. If you have a spotty credit history, an FHA loan may be your best option. For example, PennyMac FHA loans have broader credit requirements, and you may be able to pay as little as 3.5 percent down.
Accessible Homes: The Basics
A lot goes into making a home fully accessible. However, the average homeowner doesn’t need every accessibility feature available. If you’re in search of a forever home or shopping for an age-friendly home for your senior years, pay attention to major details like these:
Single-story living.
Step-free entrances.
Flush thresholds.
Wide doorways and hallways.
Ample lighting.
Raised power outlets.
Blocking for grab bars.
Thankfully, these home features are popular in new construction, making it relatively easy for buyers to find a house that offers basic accessibility. However, while these are the building blocks of accessible housing, they may not be all you need to enjoy full independence at home.
3 Ways to Increase Home Accessibility
Even when buying new construction, you may need to make changes to achieve full accessibility at home. Since remodeling can be costly, it’s important to factor these costs into your home-buying budget. You may even be able to roll remodeling expenses into your mortgage!
Replacing Carpet
One popular change for wheelchair and mobility device users is replacing carpet with wood floors. Mobility devices can’t move easily on plush carpet, and seniors are more prone to fall with high-pile carpeting underfoot. While there are a variety of alternatives to carpet, wood flooring offers the best return on investment because it’s both durable and in high demand by home buyers. Homeowners can save money by choosing inexpensive woods, removing old flooring themselves, and scheduling installation while the home is empty.
Adapting Counters and Cabinets
Most homes come with standard-height countertops and cabinets, but these can be inaccessible for wheelchair users and people with other disabilities. However, with counters and cabinetry accounting for as much as 60 percent of kitchen remodeling costs — which run nearly $30,000 on average — creating an accessible kitchen is costly. If you can’t afford to completely replace counters and cabinets or are worried about impacting your home’s resale value, talk to your contractor about working with what you have. For example, you may be able to add storage solutions that maximize lower cabinets or install a two-tier kitchen island to match your existing space.
Designing an Accessible Bathroom
Due to the high cost of bathroom remodeling, it’s best to buy a home that already suits your accessibility needs. But if you can’t find the right home in your budget, you may have no choice but to invest in bathroom updates. While minor changes like installing an accessible shower head and grab bars are affordable, replacing a bathtub with a walk-in tub or barrier-free shower costs as much as $5,000 or $15,000, respectively. However, for people who need them, the independence an accessible bathroom provides is priceless.
Finding a home that checks every box is difficult in the best of circumstances. When you have a disability or need an age-friendly home, finding the right home can seem impossible. But the truth is that there are lots of homes out there just waiting to be turned into your accessible dream home. Rather than giving up on your house hunt, reach out to an experienced agent who knows how to find the right home for you.
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 1965-B Villaridge Drive! You will be wowed by the cathedral ceiling, open layout, you will love the kitchen with upgraded stainless steel appliances, gorgeous fireplace and spacious bedroom. Relax on your balcony after a hard days work. The HVAC unit has a germ killing ultra violet filter. The Wiehle Metro and metro bus stop within one mile, close to Reston Town Center, minutes from South Lakes shopping center, Lake Thoreau and Lake Audubon with boat ramp and pools. Surrounded by walking and biking trails. For more information on 1965-B Villaridge Drive, Click Here! To see a 3D Virtual Tour, click the link below!
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 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.
If you ask a homeowner what it was like to buy their first home, they’ll probably mention a few things they’d change if they could do it all again. While it’s impossible to know everything about the home-buying process beforehand, you can still prepare yourself for what lies ahead—and figure out how to avoid some potential pitfalls. Not sure where to begin? Here are some key pointers to keep in mind before starting your search.
You’re Buying More Than a House
We all know the phrase “love at first sight,” and it can certainly apply to homes, too! Even if you step inside a home and instantly fall in love, it’s crucial to step back and consider the whole picture before making a purchase.
When you buy your first property, you’re investing in more than just four walls. It’s worth paying attention to things like a home’s location, neighborhood, and physical condition, too. Even if you find that open concept kitchen you’ve been dreaming of, it might not be the right fit if it’s in the wrong community or if the rest of the house requires out-of-budget repairs. It’s best to stay realistic and listen to your agent’s (and home inspector’s) advice. Remember, this is likely one of the biggest investments you’ll ever make, so spend your money wisely!
Down Payments Are Different for Everyone
So many would-be buyers are scared of homeownership for one reason: the down payment. Traditionally, you’d put down around 20% on a home and spend anywhere from 10 to 30 years paying your lender back. However, you actually have more flexibility than you might expect.
Depending on your credit history, location, and occupation, you could be eligible for loans that require as little as 0% down. However, making a larger down payment means you’ll pay less interest to your lender in the long run. Be sure to shop around for the right fit and reach out to your agent with any questions—they’re always available to help you out.
Prepare for Extra Expenses
Homeownership often comes with unexpected expenses, especially right after you move in. When you’re setting a budget for your big purchase, consider adding some wiggle room to allow for any additional and long term costs. You don’t want to realize that you can’t afford your home after you’ve purchased it!
Wondering what kinds of expenses can come up? Inspections, homeowner’s insurance, prepaid taxes and other various closing costs, HOA dues, and repairs are just a few possibilities. You’ll pay for some of these before or at the closing, but certain recurring costs will have to be factored into your monthly budget.
Get Pre-Approved Before You Start Searching
Once you’ve made the decision to buy, it’s tempting to start looking at listings right away. However, you might want to press pause and complete an essential step before you start scheduling showings. Getting pre-approved for your loan will show sellers and agents that you’re serious about buying—and it can tell you exactly how much you can afford to spend.
Ready to start the pre-approval process? First, you’ll want to get your finances in order and shop around for the right lender. Be sure to have all of your important documents on hand, such as your W-2 tax form, paystubs, and social security card. Most lenders allow you to apply online, and within a few business days, you’ll know whether you’ve been approved or not, as well as the conditions of the loan.
Are You a First-Time Buyer?
Buying your first home is a big deal, and it’s important to have the right agent by your side throughout the process. If you’re ready to start your search, feel free to reach out to us with any questions. We can’t wait to help jumpstart your journey to homeownership!
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.
To see available properties, please visit our website licatagroup.com
