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

Facts About Manassas Homes and Condos

Qualifying 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 buyers 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 buyers level of interest in your home as compared to other properties.


Fixed Rate Loans in Manassas


Advantages: As indicated earlier, predictability is the biggest incentive for choosing a fixed-rate loan for your Manassas real estate mortgage.

Disadvantages: Fixed rate loans usually come with higher interest than the start up interest rate on a fixed loan. Down payments for your Manassas on conventional, fixed-rate loans are usually higher than the down payment required for an ARM.

Manassas Disclosure Rule


Tell All is definitely the rule for anyone who is selling Manassas real estate in todays market. Let the Buyer Beware can easily come back and bite you in a delicate spotyour pocketbook.

Today, those selling a home or any Manassas are expected to disclose all known material defects that are not readily apparent to the buyer. A Material Defect is usually a physical condition that would affect a buyers decision to purchase the home or what price to pay for the home. A leaky roof is definitely a Material Defect. If a Manassas seller tries to disguise the leak by painting the interior ceiling and walls without fixing the leak, the truth will come out the next time it rains. Chances are the first call the buyer makes will be to his attorney.

Manassas Homebuyers Quandry


Before you begin your next home search, make sure the Manassas you have is Market Ready. If painting or landscaping or repairs need doing, get them done. If you are going to go out house-hunting you may save yourself a lot of heartache and headache if your house is ready to be listed at a moments notice.

In many cases the amount you expect to realize from your existing Manassas real estate will determine the price you can afford to pay for your next home. Start with a Comparative Market Analysis so you will know about how much you can afford to spend.


Building Manassas Home Equity


A popular question from prospective Manassas 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 homes 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 Manassas.

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 Manassas home equity faster by choosing a 15-year loan instead of a 30-year loan.

Buying Manassas Real Estate...Will it Pay?


A frequent question from prospective homebuyers relates to building home equity. Manassas 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 homes 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. This is one way of building your Manassas home equity but there is more you can do.