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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 Real Estate News / Help 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 Real Estate or Homeowner’s Insurance
While it is necessary to have Manassas Real Estate or Homeowner’s Insurance, there are ways to reduce your premium costs.
One: Raise your deductible. Deductibles are the amount you must pay towards a loss before your insurance company starts to pay. You can save costs on your overall policy by increasing the amount of your deductible. For example, according to a Federal Government paper on lowering Manassas insurance costs, you can save up to 12% on your rate if you go with a $500.00 deductible rather than a $250.00 deductible.
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 a Manassas Fixer-Upper
Finding the right Manassas fixer upper often involves finding a seller who is in financial difficulty and wants to sell in order to protect their credit or to avoid foreclosure. Various government agencies such as VA, HUD, IRS and others offer homes in foreclosure for sale and these homes can make excellent fixer-uppers. Bank owned properties known as REOs, real estate owned, offer good opportunities since financial institutions want to eliminate their real estate holdings by selling foreclosures quickly.
Join my network of Manassas buyers looking for specific types of properties. Call or Email me today.
Buying Manassas Below Market
On most real estate Websites you can enter the parameters you want for your Manassas. Include the price, size, features and location and the technology will notify you automatically the moment a property that meets your needs comes on the market. Now if what you are looking for is a particular type of property for a price that is significantly under market, you’d better be prepared to act quickly because you aren’t the only one who’s looking for a bargain.
Often times, when a home comes on the market priced under the market there are extenuating circumstances. Maybe the house needs maintenance. Maybe the yard needs work. If you are prepared with a certain amount of knowledge about the costs of roofing, painting, landscaping and other types of deferred maintenance, you will be in a position to evaluate whether or not the Manassas is priced well enough that it truly is a bargain and not a fixer-upper nightmare.
What Makes Manassas Sell?
If your only reason for selling your Manassas is for the purpose of taking your profits there are a couple ways to approach this. Assuming you have lived in the Manassas 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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