 |
DC
METRO REAL ESTATE
Serving
the Real Estate needs of the communities of
Manassas, Bristow, Haymarket, Warrenton, Gainesville
and Culpeper in Northern Virginia
|
|
Dave
Scardina
Broker
/ Owner
|
|
703-829-SOLD
866-909-0900
|
|
|
|
|
View Haymarket Real Estate NewsHaymarket Home Improvement
Don't change the general architecture of the home, and make sure that renovations match. For example, a modern steel door doesn't belong on a ranch house built in the 1970s. Be aware of the features in Haymarket.
Do it Yourself?
Be extremely confident you're capable of taking on a project before trying to do it yourself. When it comes time to sell your Haymarket home, believe me buyers can and do spot all the signs of amateur work and they discount their offer accordingly.
Haymarket FAIR MARKET VALUE
When you buy Haymarket real estate or refinance your present home, your lender will ask you to pay for an appraisal to help ensure that the sales price and mortgage amount is consistent with the property's market value. The appraiser uses the Rule of Three. What that means is the lender wants to evaluate three "comparables"—recent sales of nearby homes that are very similar to the one you are buying. Based on this information, the lender will make adjustments to reflect the differences between the properties and arrive at a fair price for your home.
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.
Bitten by the Haymarket Home Improvement Bug?
Before you finalize your decision regarding remodeling versus moving, it is wise to get a professional estimate of your Haymarket home’s current value, the actual costs of moving to a different home and the estimated return on investment of the most common types of home improvement. I’ll be happy to provide you with a complimentary analysis of your home’s current value. Simply call or E-mail me whenever you are ready. As for improvements that traditionally bring the highest rate of return on investment, here are some statistics. Kitchen remodeling and adding a bath tends to bring rates of return with averaging anywhere from 85% to 95% return on your dollars spent. Compare that with the 64% return on investment for adding a home office.
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.
|
|
|
