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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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Bristow Real Estate OnlineShopping for Your Bristow Real Estate Loan
Bristow Real Estate Loans have become part of a worldwide mortgage market and mortgage lending is impersonal and competitive. When you shop for the best loan don’t pay too much attention to who is originating the loan. Instead focus on interest rate, points, processing costs and whether you want a fixed rate or an adjustable rate loan. The reason for this is that more than likely, your Bristow real estate loan will be sold to one of the organizations made up of what is known as The Secondary Market.
Bristow 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 Bristow real estate before placing it on the market.
WAYS TO DETERMINE VALUE IN Bristow
A professional appraiser's opinion of a property's market value is based on the recent sales of similar Bristow 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.
Bitten by the Bristow Home Improvement Bug?
Before you finalize your decision regarding remodeling versus moving, it is wise to get a professional estimate of your Bristow 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.
Building Bristow Home Equity
A popular question from prospective Bristow homebuyers relates to building home equity. Buyers like to estimate how much a home may increase in value based upon past appreciation. One of the many advantages of home ownership is that appreciation is based on the home’s market value rather than on the actual dollar amount invested or the down payment so that a $100,000.00 home that appreciates 5% is now worth $105,000.00, especially in Bristow.
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 Bristow home equity faster by choosing a 15-year loan instead of a 30-year loan.
Buying a Bristow Fixer-Upper
Some Bristow investors concentrate on buying fixer-uppers, making repairs and upgrades then selling for a profit. Going with a Bristow 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 Bristow fixer-uppers simply need cosmetic work such as paint, wallpaper, carpeting and maybe kitchen appliances are fairly easy to estimate the costs for fixing. Bristow homes that need minor structural repairs such as roofing are also fairly easy to cost estimate.
Bristow DEPRECIATION
Depreciation is the loss of value of a building or an asset due to wear, tear, and aging. Depreciation cannot be applied to your personal residence unless you use your Bristow in some way for business. If you do depreciate a part of your home, let's say a home office, there are tax consequences you must consider when you sell your home.
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