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DC
METRO REAL ESTATE
Serving
the Real Estate needs of the communities of
Manassas, Bristow, Haymarket, Warrenton, Gainesville
and Culpeper in Northern Virginia
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Dave
Scardina
Broker
/ Owner
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703-829-SOLD
866-909-0900
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Haymarket Homes for saleHaymarket Real Estate Cycles
One problem with attempting to time your purchase to the business cycle is that even experts have problems accurately predicting the future economy. Even when they can, the Haymarket market does not necessarily move in tandem with the stock market or the economy as a whole. Haymarket is a unique situation.
When the economy is doing well, interest rates are generally higher. The result is that fewer people can afford houses, and Haymarket is no exception. When the economy slows down, interest rates fall, the "affordability index" moves up and more people can afford houses. The Haymarket market will take the lead.
Does Your Haymarket Have Curb Appeal?
Every prospective buyer who visits your Haymarket home is struck by a variety of impressions regardless of whether your landscaping is eye-catching or merely so-so. Plants that overrun the walkway, trees that badly need pruning and visible suggest to the prospective buyer that this home will take a lot of landscaping maintenance and yet if your yard is well-maintained, the prospective buyer is inclined to simply admire the fact and move on. If your Haymarket front porch or front door need paint, the prospective buyer is likely to notice the paint job inside and out and think about how much maintenance that will take on a yearly basis. The important message here is that things that look bad or run down call attention to all the work that needs to be done while things that are well maintained conjure up ideas of how pleasant it would be to live there.
Taking Title to Your Haymarket
Each owner has a separate title to an undivided interest in the entire property. Each owner is allowed to sell, mortgage or give away his/her interest. Any number of people can take Tenancy in Common ownership of Haymarketand husband and wife may choose this option as well. When an owner dies, his/her interest passes by will to his/her heirs. In other words, there is no survivorship right.
Each owner has an equal interest in the Haymarket. If one owner dies, that person’s share of the property passes automatically to the other without going through probate. Any number of people can take ownership under Joint Tenancy and husband and wife may choose this option as well.
Community Property. Only husband and wife can take title to Haymarket in this way. Title is in the community
The Benefits of Selling Haymarket
In order to sell Haymarket as your personal residence, you must have lived in it for two out of the five-year period ending on the date of the sale of the property. This means that you can buy a second home and live in it as your personal residence while renting out your first home. If, in a couple years you decide to sell your first Haymarket personal residence you can sell it and still benefit from the $250,000 to $500,000 Capital Gain tax exclusion. The law says that the home must be your personal residence for at least two out of the past five years.
Haymarket GUIDE
One of the major benefits that experienced Haymarket agents and brokers provide for prospective buyers is a thorough knowledge of the area and the real estate market. Whether buying in a specific school district is important to you or making sure the home you buy is close to shopping and transportation, a knowledgeable agent is your bust Haymarket Guide.
Haymarket SALES
When you are thinking of buying Haymarket, it may make sense to get a clear picture of the Haymarket market before you get too far into your search. It is important to know the current market’s strengths and weaknesses so that you can make wise real estate decisions accordingly.
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