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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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Learn About Buying Manassas Real EstateNegotiating the Sale of Your Manassas Home.
Some say that the “Devil is in the Details” and these last two steps are full of details as buyers make offers contingent upon certain conditions being met by the seller and sellers make counter offers in the process of closing your Manassas home. Once there is agreement, however, many details still remain in order to finalize the sale.
Manassas Real Estate Cycles
During a slow economic time, fewer people are buying homes in the Manassas market. Even so, some homeowners find themselves in a situation where they must sell. Families grow beyond the capacity of the home, employees get relocated, and some may even find themselves unable to make their mortgage payment - perhaps because of a layoff in the family.
During sellers' markets, Manassas real estate sells quickly and sellers have a lot of pricing power. As a result, prices rise more rapidly than at other times. During buyers' markets, Manassas real estate may sit on the market for a while before selling, so sellers become more flexible and may even drop their prices.
Buying Manassas Real Estate...Will it Pay?
With a typical 30-year loan, most of your monthly payment goes toward interest payments with only small amounts going to the principle in the early years. Only half the principle is repaid in the first 23 years of the loan. You can build equity in your Manassas faster by choosing a 15-year loan instead of a 30-year loan.
As a Manassas real estate owner 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 home equity, you gain $3,600.00. Investing in Manassas can be a very good idea.
Buying Manassas 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 Manassas 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.
Green Remodeling Your Manassas
Energy conservation. The average Manassas today uses systems for heating, ventilation and air conditioning, and most homes are not built as efficiently as they could be, resulting in high energy consumption. The U.S. Department of Energy believes if current buildings were green-improved, they would use $20 billion less in energy per year. Manassas green remodeling puts a strong emphasis on making homes as efficient as possible with modifications such as energy-efficient appliances and thermostats that can be programmed at different temperatures for different times of the day.
Taking Title to Your Manassas
There are so many details to consider when purchasing your Manassas and mounds of legal paperwork to read that sometimes it seems overwhelming. Some important decision can be made ahead of time so you know what is in your best interests when the time comes. For example, right at the end when the paperwork is being signed you may be asked how you want to take title. This is an important decision that should not be rushed but often is. Knowing some of the common forms of Manassas ownership ahead of time is one way to protect yourself.
A single Manassas buyer will usually want to take title in his/her name alone. Husbands and wives usually own property through a form of joint ownership such as joint tenancy. Unrelated individuals can take title in a limited partnership arrangement.
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