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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 ReportsHaymarket Homebuyers Quandry
When you find the home you want to buy you may make an offer contingent upon the sale of your existing Haymarket. In a Seller’s Market, offers with such contingencies are not well received because the seller must remove his home from the market while you sell yours. However there are times when this kind of offer is successful, even in the Haymarket market. A backup strategy might be to put in your offer with a very long escrow giving yourself time to sell your home. Very few sellers will accept these kinds of contingencies or long escrows if your house is not already on the market.
Bitten by the Haymarket Home Improvement Bug?
Maybe, like millions of Americans, you can’t help it! You live in your Haymarket home for several years and before you know it, you find yourself thinking about how the kitchen would look with new cabinets and a granite countertop. Should you start with the kitchen or would it be better to add a home office to give the family a little more room? There seems to be endless options for the creative Haymarket homeowner bitten by the Home Improvement Bug. Once you get started thinking along these lines, it usually doesn’t take long before the ultimate question pops up. Is it better to improve your current home or simply sell and buy a bigger, newer or more desirable Area home? Here are some issues to help you make that all-important decision.
Buying Haymarket Real Estate...Will it Pay?
A frequent question from prospective homebuyers relates to building home equity. Haymarket buyers like to estimate how much a home may increase in value based upon past appreciation. One of the many advantages of home ownership is that appreciation is based on the home’s market value rather than on the actual dollar amount invested or the down payment so that a $100,000.00 home that appreciates 5% is now worth $105,000.00. This is one way of building your Haymarket home equity but there is more you can do.
Buying Haymarket Real Estate...Will it Pay?
The only factor being considered here is Home Equity. In individual cases it may be wiser to invest than to pre-pay your Haymarket loan. It also may be wiser to pay off high-interest, non-deductible loans before considering your home equity building options. Your financial advisor is the one to consult for these matters. If you would like up-to-the-minute information about home appreciation values in your area, please call or E-mail me today.
What Makes Haymarket Sell?
The Condition affects its salability and possibly price. Haymarket that is in move-in condition will usually sell for a higher price than a home that suffers from deferred maintenance.
The Home’s Accessibility refers to just that. Is the Haymarket accessible to shopping and local transportation? For some this would be a necessity and for others, the more remote the better.
Marketing Exposure refers to how Haymarket is advertised. Today the Internet is a fantastic way to market a home but it is still true that the best service a listing agent can do for sellers is to promote the home heavily with local brokers and agents. The Internet and other advertising certainly help, but it is still true that in most cases it is the agent that sells the home by making sure the right buyers know about it.
What Makes Haymarket Sell?
If your only reason for selling your Haymarket is for the purpose of taking your profits there are a couple ways to approach this. Assuming you have lived in the Haymarket for two years so you can avoid federal tax consequences, if you sell when prices are high and rent until prices come down before buying a replacement home, you will have maximized your profit. Remember, if you sell when prices are low, you will still make a profit and be able to buy a replacement home while prices are still low.
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