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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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Manassas Homes Guide / Tips for Buyers and SellersQualifying the Buyer for your Manassas Property
Either you or your agent will want to weed out potential buyers who cannot afford to purchase your Manassas home. Items to investigate include the buyer’s debt and credit history, current income and employment, the availability of cash for a down payment, the time the buyer needs before closing on the home and the buyer’s level of interest in your home as compared to other properties.
Manassas Housing Patterns
Manassas Housing patterns tend to be homogenous, meaning homes worth $100,00 are located in $100,000 neighborhoods. It is important for properties to be within the general pricing patterns of their neighborhoods because over-valued homes, even if they are exceptional, are sometimes difficult to sell at full market price. Remember, lenders want to compare your home to nearby homes. If your Manassas real estate is located in a neighborhood of $100,000 homes but you have added another $100,000 in improvements, you may have over- improved your property in that lenders will be reluctant to lend the higher amount.
Many sellers think that the price of their home is determined solely by what they are willing to accept and what the buyer is willing to pay. However, the lender’s appraisal in Manassas is one more variable and it can complicate the sale of your home. In these cases, it helps to have a knowledgeable REALTOR working on your side.
Manassas Homebuyers Quandry
First time Manassas homebuyers have their issues to deal with and homeowners who want to move up, down or sideways have an entirely different set of problems. A homeowner’s first task is to counteract human nature. Humans must be genetically programmed to find their next home and then scramble to sell the one they have so they can afford the one they want. The Manassas market is no exception. Of course, this is contrary to good sense but since most people will go ahead with the Buy then Sell approach.
Before You Buy Your Manassas Home
Whether you are a first time buyer or someone who is moving up to a more expensive home it’s a good idea to start by cleaning up your credit report. Let’s say you apply for a loan to purchase an Manassas condo, town home, single-family home or any type of Manassas. The lender will check out your monthly income and outgo to determine if you can afford to repay the loan. Therefore, it is to your advantage to pay off as many high-interest consumer loans as possible. If you are planning on buying a car, a boat or other major purchase, put it off until after you have bought your selected Manassas real estate. Lenders look for certain patterns they consider red flags. These are: late payments, overextension, liens, garnishments and, of course, bankruptcy. Remember, debts reduce the amount of cash you can spend on the Manassas you want to buy, so clear the decks as much as possible before applying for a loan
What Makes Manassas Sell?
The Condition affects its salability and possibly price. Manassas 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 Manassas 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 Manassas 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.
Manassas INFORMATION
The Internet makes it easy to get Manassas information online from dozens of Websites that all have the same data. Beyond information on the Internet, experienced real estate agents and brokers who know the area well will be able to fill you in on details that usually do not show up on these online data bases.
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