Hello! I’m Mark Worrilow of Fathom Realty. In this week’s listing, you won’t beat the price or condition of this remodeled home in a quiet area with plenty of land to serve your needs.

It’s been remodeled and is ready for new owners. This walk-in home is equipped with upgrades and beautiful fresh paint.

In 2024, the water piping was replaced, new outdoor fixtures were installed, a brand new hot water heater was also installed, and the HVAC system was cleaned and serviced in July 2024.

Call Mark Worrilow today at 703-244-8702 or email mworrilow[at]fathomrealty.com. 

The address is 10217 Catharpin Road, Spotsylvania Courthouse, Va.

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Mark Worrilow Fathom Realty is a Potomac Local sponsor. If you’re looking to buy or sell a home, change careers, or find a better place to sell Real Estate, call Mark today!

Why is the absorption rate crucial in understanding the current housing inventory situation in Northern Virginia and Stafford County? Mark Worrilow of Fathom Realty explains how this key metric helps buyers and sellers navigate the dynamic real estate landscape.

Mark has years of experience and a deep understanding of local market trends. His personalized approach ensures that you get the best possible advice and outcomes whether you are buying or selling. Mark has successfully helped numerous clients navigate the complexities of the real estate market, securing the best deals and selling homes quickly.

His knowledge of the absorption rate and other key market indicators gives you a competitive edge.

When people discuss the market, terms like ‘seller’s market’ or ‘buyer’s market’ are often used without clear definitions. The absorption rate provides this clarity by comparing the number of homes sold to those actively listed on the market. This metric indicates how quickly homes are selling and how long it would take to deplete the current inventory at the current sales pace.

In Stafford County, for instance, the absorption rate is approximately 1.5 months, meaning that if no new homes were listed, it would take about a month and a half to sell all available properties. This figure is crucial as it reflects the market’s pace and helps buyers and sellers make informed decisions.

Understanding the absorption rate is vital for sellers because it shows how fast homes are moving. This knowledge can help in pricing strategies and timing decisions, ensuring their property is competitively positioned in the market. On the other hand, buyers must be aware of this rate to avoid missing out on desirable properties in a fast-paced market.

Quick decision-making can be essential in securing a home.

The absorption rate also helps define whether the market favors buyers or sellers. An absorption rate of one to three months typically signals a seller’s market, which is the case in Northern Virginia and Stafford County. With strong demand and the region’s commuting advantages, this trend is expected to continue.

Understanding the absorption rate is more than just knowing a number; it’s about grasping the market dynamics that affect your ability to buy or sell a home. This knowledge empowers you to make more informed, strategic decisions in the real estate market.

Understanding the absorption rate is crucial to staying ahead in the fast-paced real estate market of Northern Virginia and Stafford County.

Contact Mark Worrilow today for a consultation and discover how his expertise can benefit you. You can make informed, strategic decisions and achieve your real estate goals with Mark’s guidance. Don’t miss out on this opportunity to work with one of the top real estate professionals in the region!

Mark Worrilow of Fathom Realty is a Licensed Broker/Instructor in Virginia.

Stafford County residents recently received their biannual property tax assessments, revealing a significant increase in property values. On average, residential properties saw a 13% rise, while commercial properties surged by 23%.

Mark Worrilow, a real estate expert with Fathom Realty specializing in Stafford County, weighed in on the implications and offered advice for homeowners.

Worrilow emphasized the importance of understanding that the assessed value determined by the county reflects the worth of one’s property for tax purposes. He urged homeowners not to react to the assessment figures immediately but to evaluate their property’s market value critically. He stated, “Before we say, ‘I can’t believe my house is being assessed so much,’ ask yourself, ‘What’s your house really worth?'”

The expert highlighted the opportunity for homeowners to seek a reassessment if they believe their property’s value is inaccurately assessed. Worrilow stressed the need for homeowners to engage with local authorities and understand the implications of property assessments on their taxes, stating, “All politics is local, and deal with your county supervisor or city or town councilor… If we’re not involved, then we have no one to blame but ourselves.”

In Virginia, localities heavily rely on real estate taxes to fund local government operations, making property assessments a vital aspect of local governance. Worrilow underscored the significance of understanding tax rates and assessments, urging homeowners to educate themselves on where their tax dollars are allocated.

Regarding the increase in property values attributed to supply and demand dynamics, Worrilow concurred with Stafford County Commissioner of the Revenue Scott Mayausky’s assessment. He acknowledged the scarcity of available homes and high demand as key drivers of escalating property prices in Stafford County.

A “dad” to a German Shepherd puppy, or as he calls it, “Shuppy,” and husband to a wonderful wife, Mark likes to read, cook, and use his smoker. He also loses golf balls and fishing lures.

Mark is a retired naval officer and 27+ year career REALTOR®. He is also an instructor for numerous continuing education and REALTOR® professional growth classes.

A Prince William/Stafford resident since 1991, he is well-versed in these areas and markets. A believer in giving back to those who serve our community, Mark has a program to support those buying or selling in Northern Virginia and has numerous agents who work for him who do the same. As a proud member of Rotary, he also extends these benefits to service organization members.

Mark Worrilow of Fathom Realty shed light on the absorption rate in the Northern Virginia Real Estate market and its pivotal role in navigating the dynamic Real Estate landscape of Northern Virginia and Stafford County. Worrilow, an expert in the field, delved into why absorption rate holds significant importance for prospective buyers and sellers.

“When people inquire about the state of the market, the terms ‘seller’s market’ or ‘buyer’s market’ often get tossed around without much quantification,” remarked Worrilow. “Absorption rate provides that quantification by comparing the number of homes sold to those actively listed on the market.”

Worrilow emphasized that in Stafford County, the absorption rate currently stands at approximately 1.5 months, indicating that the existing inventory would be depleted within a month and a half. Subject to seasonal fluctuations, this figure serves as a tangible measure of market activity, enabling individuals to gauge how swiftly homes are being bought and sold.

Highlighting the significance of this metric, Worrilow explained, “For instance, in February alone, there were 266 homes listed on the market, including those under contract and pending sale. This comprehensive approach to calculating absorption rate paints a clearer picture of market dynamics.”

Discussing the implications for both buyers and sellers, Worrilow stressed the need for proactive decision-making. “For sellers, understanding absorption rate underscores the potential speed at which their homes can sell, provided they are priced appropriately. Conversely, buyers are advised not to delay their decisions, as desirable properties may vanish quickly in a fast-paced market.”

In defining whether the market leans towards sellers or buyers, Worrilow outlined the benchmarks. “An absorption rate of one to three months signals a seller’s market, and we’re firmly entrenched in that territory. With our region’s strong demand and commuting advantages, this trend is likely to persist.”

Worrilow urged buyers to consult with their Real Estate agent for localized insights. “Real estate is inherently local, so understanding absorption rates specific to your neighborhood is crucial. Your agent can provide tailored guidance based on market nuances.”

A “dad” to a German Shepherd puppy, or as he calls it, “Shuppy,” and husband to a wonderful wife, Mark likes to read, cook, and use his smoker. He also loses golf balls and fishing lures.

Mark is a retired naval officer and 27+ year career REALTOR®. He is also an instructor for numerous continuing education and REALTOR® professional growth classes.

A Prince William/Stafford resident since 1991, he is well-versed in these areas and markets. A believer in giving back to those who serve our community, Mark has a program to support those buying or selling in Northern Virginia and has numerous agents who work for him who do the same. As a proud member of Rotary, he also extends these benefits to service organization members.