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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 ReportsManassas has special regulations
Every area has its own building regulations. You need to know how these restrictions will affect the design of your Manassas home. Issues to consider include zoning, setbacks, rights of way and easements. Most subdivisions have CC&Rs (Covenants, Codes and Restrictions). Studies of Manassas demonstrate that these carefully to make sure they are not too restrictive for your needs or create excessive building costs.
Manassas FAIR MARKET VALUE
Setting the right price is an important first step in getting a home sold. Sellers often wonder if they should spend $200 to $400 for a professional appraisal of their Manassas real estate before placing it on the market.
WAYS TO DETERMINE VALUE IN Manassas
A professional appraiser's opinion of a property's market value is based on the recent sales of similar Manassas real estate. Different appraisers could come up with different numbers. Even if all of them agreed on a value, there is no guarantee that you would receive that amount for your property. An alternative to a professional appraisal is to ask a professional Realtor for a written market analysis of your property. This analysis will include information about recent home sales in your neighborhood, as well as how those homes compare to yours.
Manassas Real Estate Cycles
In the business cycle of real estate, there are buyers' markets and sellers' markets...and some markets in between. It is all based on supply and/or demand. Manassas is no exception.
There are times when the economy is brisk and everyone feels confident about his or her prospects for the future. As a result, they spend money. People eat out more, buy new cars, and... they buy houses, namely Manassas.
Then, for one reason or another, the economy slows down. Companies lay off employees and consumers are more careful about where they spend money, perhaps saving more than usual. As a result, the economy decelerates. When there are fewer people in the market to buy homes. This is true for the Manassas real estate market as it is for all markets nationwide.
Bitten by the Manassas Home Improvement Bug?
Money isn’t everything however so that if the most important consideration for remaining in your Manassas home happens to be the school where your children attend or the proximity to your work or to a particularly attractive recreational opportunity then remodeling may be the best option. On the other hand, if the idea of having your Manassas house torn up for weeks at a time makes your blood run cold, it really doesn’t matter how much money you might make turning a fixer-upper into a model home. You will be far better off selling the home you have and moving to a home that better fits your needs.
Buying a Manassas Fixer-Upper
This, of course, depends on the condition of the Manassas home and the estimated cost of the repairs you must make. Manassas real estate in a good neighborhood that is priced about 25% lower than others that are in good shape may be a good deal if it simply needs cosmetic or minor structural repairs. If the house is a gut job, that is the entire inside will be torn out and rebuilt the 25% rule may work and may not so estimate your costs as closely as possible.
Shopping by neighborhood makes good sense when considering the purchase of a fixer upper. As a buyer, the more you know about the Manassas homes in a particular area the better able you are when it comes time to judge whether or not a home your are considering meets the financial parameters you are looking for.
What Makes Manassas 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 Manassas 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 Manassas 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 Manassas. 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?
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