If you’ve given even a casual thought to selling your house in the near future, this is the time to really think seriously about making a move. Here’s why this season is the ultimate sellers’ market and the optimal time to make sure your house is available for buyers who are looking for homes to purchase.
The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale is still astonishingly low, sitting at just a 2-month supply at the current sales pace.
Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers (See graph below):When the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. As a result, competition among purchasers rises and more bidding wars take place, making it essential for buyers to submit very attractive offers.
As this happens, home prices rise and sellers are in the best position to negotiate deals that meet their ideal terms. If you put your house on the market while so few homes are available to buy, it will likely get a lot of attention from hopeful buyers.
Today, there are many buyers who are ready, willing, and able to purchase a home. Low mortgage rates and a year filled with unique changes have prompted buyers to think differently about where they live – and they’re taking action. The supply of homes for sale is not keeping up with this high demand, making now the optimal time to sell your house.
Bottom Line
Home prices are appreciating in today’s sellers’ market. Making your home available over the coming weeks will give you the most exposure to buyers who will actively compete against each other to purchase it.
Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Culpeper, Northern Virginia or even Maryland or DC, we are your Real Estate team committed to finding the perfect home for you! Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar, and in a timely manner. Pricing your home accurately, one of our area expert advisors will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available properties, please visit our website licatagroup.com
Homeownership is undisputedly the Great American Dream. There is a good reason for that, especially as interest rates have dropped. And while the pandemic has changed the landscape of buying a home, with patience and the help of great real estate professionals like The Licata Group, you can make this a reality. If you’ve never walked this path before, there are a few steps you can take to help your dream come true.
Step 1: Check Your Credit Score
Your credit score is a number that gives lenders a good idea of whether you’re financially responsible. Ideally, you’ll have a score of 720 or higher. You may be able to get a loan with a credit score of 580, but the higher your credit score, the lower your interest rate. It’s always a good idea to know what’s hiding on your credit report before you contact the lender.
Step 2: Know What You Can Afford
Knowing your credit score is only part of the puzzle. You also have to figure out how much you can reasonably afford for your mortgage. According to the Consumer Financial Protection Bureau, most lenders will also consider your debt-to-income ratio (DTI). Generally speaking, you are more likely to repay your loan if your DTI is 43 percent or less. Your credit score and DTI may also determine which types of loans you are eligible to receive.
If you have very little credit, as many homebuyers do, you might want to consider an FHA loan. Often, you can put less money down and still walk away with a reasonable monthly payment. If your goal is the lowest mortgage possible, plan to put 20 percent down and stick to a 30-year loan. Fifteen- and 20-year loans are also available, and they can help you pay your house off faster, but they’ll cost more money each month.
Step 3: Find the Right Realtor
If you haven’t already, it’s time to start shopping for a reliable real estate agent. This is the person who will represent your best interests throughout the home-buying process. While it is technically possible to buy a house without this kind of assistance, keep in mind that a buyer’s agent does not charge you. Instead, barring a few exceptions, their time and expertise are compensated by the commission offered by the seller.
Step 4: Begin Your Search
Now that you have a handle on money, you can start your home search. First, determine how much home you actually need. Plan for the future and look for a home that will provide enough room to accommodate your lifestyle and space needs for the next five to 10 years. This is where the affordability factor comes into play, and your realtor will be able to steer you in the right direction. Note that on average, homes in Lake of the Woods currently sell for $335,000.
Step 5: Found It! Make an Offer
When you think you have found the perfect house, put your game face on and make an offer. Depending on your local climate, you may want to offer close to the asking price – your agent can help you make that determination. Keep in mind, however, that even after they accept the offer, things may change depending on the home inspection and appraisal.
In a normal scenario, when your offer is accepted, things will move quickly, usually between four and six weeks. However, the pandemic could have an effect on how long you wait to close. Regardless, during this time, you’ll be contacted by your lender for additional information, and you will be in close contact with your agent. If everything goes off without a hitch, you’ll find yourself sitting at the title company on closing day, holding the keys to the next chapter of your journey.
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
Craving space? You’ll love this great house, located in amenity rich Lake of the Woods, offers! The house is perfectly situated on a private lot that backs to trees for privacy. The inside delights with a spacious living room and the kitchen/dining area on the main level, with access to sunroom through the dining area. The upper level is where you will find the master bedroom with attached full bath and large closet, along with the other two bedrooms. If that isn’t enough, the lower level features a family room, laundry and another full bath! The oversized garage with workshop is perfect for the car enthusiast or woodworking, gardening or even for a craft area. Enjoy sitting in the sunroom that backs to a very private, level yard. For more information on 304 Gold Valley Road, Click Here!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
Welcomes you to 1302 Lakeview Parkway! You will be delighted with the open floor plan. The spacious kitchen has ample counter and cabinet space that will make entertaining and cooking a breeze. The great room is full of light with a corner gas fireplace to keep you cozy on those cool nights. The master suite is spacious with an en-suite master bath. The screen porch is private to entertain or relax with your favorite beverage. That’s not all…. You will love the built in storage in the garage! For more info on 1302 Lakeview Pkwy, Click Here!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
Welcome to 208 Westover Parkway! Step inside to be delighted by the open floor plan, cathedral ceilings, and fine finishes. You will love the stylish, updated kitchen that is bright, beautiful, and features black/stainless steel appliances, upgraded quartz counter tops, tile back splash and a large island. The living room is spacious with a grand window that allows so much natural light and features a fireplace to warm up to on those cool nights. The master suite offers an en-suite bath and entrance to the deck, where you can relax and enjoy your favorite beverage and take in the view of the private tree lined yard. Two additional bedrooms, another full bath and a dining area complete the main level. There’s more: the lower level boasts a family room and laundry room with half bath. The oversized two car garage provides ample space for parking and storage. The private, level yard is picture perfect! For more information on 208 Westover Pkwy, Click Here!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
If privacy and space is what you crave then 1209 Confederate Drive is the one for you! Once inside, you are delighted by the open floor plan, cathedral ceilings and gas fireplace. Enjoy preparing meals in this stylish kitchen with stainless steel appliances, ample cabinets, breakfast area, pantry and breakfast area. You will love the master suite with fireplace, walk in closet and the master bath has soaking tub and double vanities. The lower-level is perfect with a light filled family room, bar and two more bedrooms with full bath. Relax on your deck and enjoy a private tree lined yard. For more information on 1209 Confederate Drive, Click Here!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
Welcome to 312 Battlefield Road! This beautiful custom-built home, nestled in the trees, and move in ready will delight from the moment you drive up. Once you enter, you are welcomed by gleaming hardwood floors, a great room with gas fireplace, fine finishes throughout, and a sought-after open floor plan! The kitchen has upgraded appliances, pantry and a large island! You will love the master suite that is so inviting and spacious. The en-suite master bath has a double vanity and a gorgeous tiled shower with jets. Two more spacious bedrooms, full bath and laundry room complete the main level. Enjoy sitting on the screened porch with your favorite beverage off the master suite. The lower level features a family room with gas fireplace, a 4th bedroom and half bath. That is not all…. off the lower level patio is a separate room that can be used as a garden potting room and also a workshop and storage. Imagine sitting on your deck listening to all the sounds of nature, entertaining family and friends or just relaxing. A whole house generator conveys with automatic transfer! For more information on 312 Battlefield Road, Click Here!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
Buying a house out of state can be a big bite for many of us. Some are even scared to try, and rightfully so. There are many things that can go wrong even when you are buying a house in your neighborhood, let alone somewhere far away. But, don’t be discouraged. If your mind is set on buying a property out of state, this guide will help you ensure the deal goes smoothly.
Do a thorough research
It goes without saying that you should do thorough research before buying a home wherever you decide it should be. Don’t rely entirely on your real estate agent. Of course, he or she is there to help you find the best place for your relocation, but there are some things that should be doublechecked. Furthermore, there are some details about the neighborhood that not even your agent is familiar with. Google can lend a helping hand, you just have to know where to search. Arm yourself with patience and start browsing. There are many neighborhood guides that can be very helpful for getting to know a community of your interest. These guides are great because they tell you a lot about local crime rates, employment potential, weather, and economic stability.
Always do thorough research before making any big decisions
Start early to avoid stress
Searching for a home to buy is stressful under the best of
circumstances, but buying out of state can be incredibly stressful. A house is
usually the most expensive thing that people buy, so the process should be
performed with the utmost care. You can
help yourself a lot by starting the search as early as possible. If you
have decided to move, the ideal time to start searching for your new home is six months before the due date of your
relocation. Three months is also a doable period, but don’t let yourself start
a search later than that.
Be careful when choosing an agent for buying a house out of
state
When
you decide to relocate out of state, you need to find a real estate agent who
will do most of the work for you. And, there is a lot of work to be done. An
international move often means a lot of paperwork, so some people are not sure
whether they should hire a real estate agent or a lawyer when buying
a property.
The best decision you can make is to hire a buyer’s agent in the state you are relocating to. Do not ask a listing agent to represent you since he or she will probably represent the seller. In that case, their job is to sell a certain property for the biggest amount of money and they only have the seller’s best interest in mind, not yours. So, you should choose a buyer’s agent.
A good buyer’s agent is your biggest help
How do I choose a buyer’s agent for buying a house out of
state?
The
buyer’s agent is definitely a better option than a listing agent, but still, you shouldn’t pick one randomly.
Instead, you can discuss it with a real estate agent in your present community.
Find one that you trust and ask him/her
to refer a colleague from the area you’ll be moving to. If the real estate
agent is a member of the National
Association of Realtors, he/she will have access to various databases. They
can even see their colleagues’ success rates. By getting a referral, you can
ensure that you do not become a victim of various realty scams.
Hire a relocation specialist
Have
you heard of relocation specialists?
No, that is not the term used for professional movers such as Gibraltar
Van Lines who can help you relocate wherever
and whenever you feel like. A relocation specialist is a person who can help
you with many aspects of your move. The only thing that they do not do is
negotiate your home purchase. However, they can:
help you find a real
estate agent to start home-hunting;
connect you to moving
companies;
give you the necessary details about the education and employment system in your
future home town;
help you sell and close on your current home which is an important part of
the procedure you have to go through when buying a house out of state.
It
is a common practice for companies that are relocating to hire relocation
specialists. That is why many people do not know they are available to
individuals as well.
Take a trip and get an inspection of your potential home if
you can
If
you are buying a house out of state you will probably not be able to go to
every showing in person. What you can do is ask your agent to give you a virtual tour of the houses that you have
shortlisted. Speaking of such tours, don’t fall for online virtual tours
because they are usually a part of a moving scam.
When the time comes for you to make an offer on the house, you should really make an effort and see everything in person. There are many things that even the best real estate agents will not notice. You will be able to feel the space, and that is something no virtual tour or agent’s descriptions can replace. And you wouldn’t want to make a mistake when making such a crucial decision as buying a house out of state, would you?
Try to go and see the property you are interested in buying in person
Many
sellers would work on some features that make their home sell faster while neglecting some major issues about their property.
That is where a home inspection comes in handy. It might be a burden to your
budget, but at least you will know what you are dealing with.
Close on your current home first
If the out-of-state closing is scheduled on the same day as the closing on your current home, you might have a problem. The lender for your new house must receive a closing statement from the old one. The best thing you can do is schedule the closing on the new house a few days after the closing on your current one.
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.
Selling your home can turn into a genuinely lengthy process
if you have no information on how to do it properly. Making a detailed plan and
having an experienced professional agent by your side can significantly
decrease the time your home spends on the market. If you are willing to make an
effort, invest your time and some financial means, it will be easier to gain
competitive advantage and make your property more appealing than others. Thus,
here are some tips on how to interest your prospective buyers and succeed in
selling your home faster.
Improving curb appeal is the starting point
The first impression matters greatly when buying a property. Interestingly, sellers very often tend to forget this fact, so they focus intently on the inside of their homes. However, if you aim at selling your home faster, improving curb appeal is the most reasonable starting point. Firstly, pay attention to your lawn. Keep it neatly mown at all times since you never know when the potential buyers can come by. Also, it is necessary to trim trees and bushes regularly and to maintain your garden well enough.
Figure 2 Improving curb appeal is the most reasonable starting point when aiming at selling your home faster. Alt.tag: A beautifully decorated home entrance that can help when aiming at selling your home faster.
Pay special attention to the entrance. If it is necessary to
add a fresh coat of paint, do not hesitate to do it. A new house number and a
matching mailbox can easily catch everybody’s eye. Ideally, repainting your
front door will maximize the positive effect on whoever comes to tour your
home. Remember, what you want to achieve is making prospective buyers believe
your home is the right choice for them.
Decluttering is critical for selling your home faster
Clutter at your home threatens to prolong the whole process
or even reduce the price considerably. Getting informed on some key decluttering
tips can help you create an intimate and yet neutral and cozy atmosphere
that will enable your prospective buyers to envision their life and family in
this place. Furthermore, do not forget depersonalization. If a neutral territory is what you want to
achieve it is inevitable to remove all your family photos, children’s artwork, souvenirs
from various travels and so on.
Since it is essential
for potential buyers to move freely around your home, getting rid of bulky
furniture pieces is a must. Ideally, you can look for
an affordable unit to store your belongings and these furniture items
safely. Then, you can rearrange the rest of your furniture and maximize the
space. This will be highly appreciated and valued.
Make your home shine
You need to raise your cleanliness standards to the highest level until selling your home comes to its end. Paying special attention to all hidden areas is of utmost importance because your home needs to bear the scrutiny of various potential buyers. While it may be exhausting and quite challenging to keep your home in pristine shape for long, it is needed given the circumstances. Otherwise, you risk making one of the biggest mistakes when selling a home.
Figure 3 Make your home shine and prospective buyers will love it. Alt.tag: Cleaning brushes in various colors.
Natural light is a great benefit
Natural light is everybody’s favorite. It brings freshness,
calmness, and warmth to your space, so it has to be ample in order to attract
attention. Try your best to make your home as naturally lit as possible. Should
you find any problems with meeting this requirement, placing decorative lamps
around your home might help.
Selling your home faster requires making it available to prospective buyers
It is vital to make your home available to potential buyers.
Unfortunately, this most often means allowing them to tour your home whenever
it fits their schedule, even at weekends. This is a slight inconvenience you
will have to bear if you expect to succeed in selling your home faster. Buyers
themselves also feel nervous about finding the property that meets their criteria
once they realize that buying
real estate is a good investment.
Be realistic about the price
Making a decision about the price when selling your home is
a crucial task in the process. With the help of the internet, both sellers and
buyers can obtain information on the subject quite easily. Hence, it is
essential to be utterly realistic when setting the price. Defining the price
either too high or too low is very risky. Should you have any doubts,
consulting professionals is advisable.
If you, however, decide to set the price yourself, there is another step you need to define. Having a timetable for lowering the price can prevent your home from being on the market for too long. Instead, a reduced price after some time may incentivize those buyers who were having second thoughts. Eventually, selling your home faster becomes achievable.
Figure 4 Be realistic when setting the price for your home. Alt.tag: Three different piles of coins and a small wooden model house.
Taking some photos can help in selling your home faster
A great majority of prospective buyers start their search
for a perfect home online. Most of them prefer seeing photos of the houses
listed in order to take them into consideration. Thus, making high-quality
photos of your home can be very beneficial. If they emphasize all the appealing
and distinctive features, they will easily attract buyers in a short period of
time. Make sure you photograph both the inside and outside of your property. If
you are willing to invest in hiring a professional photographer, you can expect
favorable results very soon.
Feel free to spread the word
Although collaboration with your real estate agent is
compulsory, you can also contribute to selling your home faster. Feel free to
spread the word. Talk to your neighbors, colleagues, and friends. Use the
advantages of social networks and share your listing on various social media.
Understandably, the more people you inform the bigger the chance to find the
buyer soon.
Time matters
Among other factors, the time you list your home for sale determines how long it will stay on the market as well. When aiming at selling your home faster, it is, generally, advisable to list it in spring or fall. Reasons underlying this suggestion are understandable. The weather in spring is pleasant and people are willing to tour houses more often. The school is coming to its end, so moving will not cause any problems to families with children either. On the other hand, in the fall, the weather is still warm. People have come from their vacations and now they are ready to search for the property that meets their strict criteria. The school is about to begin, so prospective buyers have time to make the final choice and conduct their relocation. Use your chance and make selling your home faster possible.
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.
What’s better than 1 open house? 2 open houses of course! Join us this Saturday, August 24th from 1PM – 3PM to see two lovely homes in Lake of the Woods, Virginia. We look forward to seeing you there! (Click the address below for more pictures and information about the property)
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.
