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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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Information About Haymarket Homes for SaleHaymarket Home Improvement
Don't underestimate how much projects will cost. Expenses usually are added, not subtracted. Homeowners, even Haymarket homeowners, routinely go 20% to 30% over budget. Remember, it is common to under budget cost and time.
When remodeling for resale, don't waste time with renovations that won't pay off. If you must have a pool, you still may have to lower your expectations on who will be interested in buying. The National Association of Realtors/Remodeling magazine study has identified four renovations that show the greatest return at resale: improvements to siding, windows, kitchens and bathrooms. Remember you have a lot invested in Haymarket.
Haymarket Real Estate Title Insurance
Buyers in the Haymarket market can be tempted to save money by foregoing a title search but the risks are heavy because title problems are many and varied. Some typical problems that title searches have uncovered include a second mortgage on a home that does not appear to have been paid off. The sellers borrowed money years ago from a parent who insisted that a second mortgage be recorded. The loan was repaid but the title wasn’t cleared. Another typical Haymarket problem occurs when an owner had work done on the property but for one reason or another failed to pay the contractor in full. The contractor filed a mechanic’s lien on the property and it has never been removed. These are liens on the property and if you take title to a property without clearing these liens or encumbrances, you may be responsible them.
Haymarket ...How To Determine Price
The asking price of your Haymarket real estate is not something to decide willy-nilly. Price it too high and you may not get any offers. Price it too low and you fail to maximize the return on your investment. Here is a good way to go about determining the price for your Haymarket home.
Buyers who will consider your Haymarket are out there inspecting and comparing a variety of homes that are for sale at the same time your home is on the market. If your home is priced significantly higher than comparable Haymarket homes, you may not get very many buyers to even look at your home. Ultimately, it is buyers who determine what your home is worth. Buyers who are represented by an agent are privy to knowledge of what homes are actually selling for. You should be armed with this knowledge as well and you should use this knowledge to guide your pricing decision.
Buying a Haymarket Fixer-Upper
Some Haymarket investors concentrate on buying fixer-uppers, making repairs and upgrades then selling for a profit. Going with a Haymarket fixer-upper can also be a smart way for those who are handy to buy a home in a neighborhood that they might otherwise be unaffordable. Fixer-uppers are a wonderful opportunity for those who simply love to create their space to their own specifications but for whatever reason do not want to start with a vacant lot.
Best to know the extent of the job and whether or not you are up to it before you buy. Some Haymarket fixer-uppers simply need cosmetic work such as paint, wallpaper, carpeting and maybe kitchen appliances are fairly easy to estimate the costs for fixing. Haymarket homes that need minor structural repairs such as roofing are also fairly easy to cost estimate.
Tips for Buying or Selling Haymarket
Most experienced real estate agents and brokers already have Websites that showcase their local MLS data so your Haymarket can show up online as soon as it is listed. On the other hand, if you are selling on your own it will take time or a considerable advertising budget to get your individual Haymarket property to show up on the major search engines where prospective buyers will find it. You could tap into one of the several For Sale by Owner Websites but that would limit your market of buyers.
Buying real estate in Haymarket is also much easier when you work with a real estate agent who knows the area and the market. While there is a great deal of information online about real estate asking prices, it is not always so easy to find out what a property actually sold for. And even then, specific terms of a sale often make a difference in how to interpret the sales price.
Haymarket DEDUCTIONS
One of the advantages of home ownership is that while most other types of interest are not tax deductible, the interest you pay on your Haymarket loan is deductible on your Federal and State income tax. This fact alone gives homeowners a distinct advantage over renters.
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