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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 Values / A Guide for Buyers and SellersHaymarket Disclosure Rule
Types of Material Defects for Haymarket might include any known structural deficiencies or building code violations. Material Defects might also include defects in walls, ceilings, floors, windows, foundations or electrical or plumbing systems. If you are selling in the summer and the place usually floods in the winter that is a material defect that is not going to be obvious to a prospective buyer.
When you are contemplating the possibility of selling your Haymarket you might want to ask yourself what you would want to know about the property if you were planning to buy it. If a condition or situation would be important to you, disclose it and disclose it in writing. As a seller, this is your strongest protection against future litigation.
Bitten by the Haymarket Home Improvement Bug?
Unless money simply isn’t an issue, the financial implications of remodeling are definitely something to consider. When it comes time to sell your Haymarket home, the new buyer will usually not pay for over-improvements. This means that if you have the smallest home in an area of larger, more expensive homes, home improvements may make very good financial sense. However, if you already have the largest, most expensive home in Haymarket, more improvements may make you more comfortable but may not bring you a good financial return. You may find that it is financially wiser to sell and move to a different home that already has the features you want to add.
Building Haymarket Home Equity
As a Haymarket homeowner you have the right to pay more towards the principle loan amount each month. Let’s say your monthly payment is $700.00 a month and $100.00 a month is being applied to the principle. If you choose to pay $900.00 instead of $700.00, the $200.00 overage will be applied entirely to the principle. Thus, instead of gaining $1,200.00 a year in Haymarket home equity, you gain $3,600.00.
The only factor being considered here is Home Equity. In individual cases it may be wiser to invest than to pre-pay your home loan. It also may be wiser to pay off high-interest, non-deductible loans before considering your Haymarket 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 Haymarket home appreciation values in your area, please call or E-mail me today.
Choosing Your Haymarket Neighborhood
You’ve probably heard about the three major determinants of Haymarket values are: 1) location, 2) location and 3) location. This is not only true about real estate in Haymarket; it is true about real estate in general. If you cannot afford what you want where you want it, give up something inside the house rather than settling on a lesser location.
What Makes Haymarket Sell?
Books have been written about this topic but to be concise, successful sale depends on six factors: Price; Terms; Location; The Home’s Condition; The Home’s Accessibility and the Marketing exposure the Haymarket receives.
Price is what a willing seller and a willing buyer agree on. Price is determined by the current market, which fluctuates causing home values and prices to fluctuate. Often Haymarket that does not sell is over-priced for the current market. Terms can vary as well. Some owners want payment in full, some are willing to carry a second.
Location is a major consideration in pricing and desirability for Haymarket. Has the neighborhood gone to pot or does it look like a street at Disneyland? Are there open spaces nearby or is the home located in the middle of commercial district?
Haymarket BASICS
Location, location, location pretty much describes the basics of all real estate markets and the Haymarket market is no exception. A lovely estate home next door to a power plant or on a hill where major sliding has occurred is not as valuable as that same home in a quiet, tree-lined neighborhood. This is why most astute buyers tend to rely on real estate agents who are well versed in the community and know the area well.
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