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

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.


Guidelines for Buying Manassas


The Internet is great but nothing really substitutes for your personal inspection of homes that are for sale in the Manassas. When you have visited plenty of homes online and in person when the right property comes along you will know it.

It is perfectly normal for buyers to have a general idea of what they want in a home without a great deal of specificity. Research, both online and in person will help you define your Manassas needs but you can and should know your financial needs before you even start looking. I recommend that buyers go through the process of prequalifying with a lender or at least with a real estate agent in order to narrow the search among homes that are a possibility. Many agents refuse to show homes to prospective buyers who have not been pre-qualified.


Manassas: Art and Science


Buying a piece of Manassas real estate is a science but buying your Manassas home is an art. The science part involves getting the legal and financial parts down while the art is finding the Manassas property that youll be happy with.

The total universe of possibilities within the universe of Manassas real estate is quite diverse but narrowing your search ahead of time will help keep things in perspective.

In general there are two phases to any Manassas real estate search. In the first phase, you get a feel for the different areas and an idea of what is being offered at what price. In the second phase, you search for the Manassas real estate that meets all or most of your specifications.


Bitten by the Manassas Home Improvement Bug?


Before you finalize your decision regarding remodeling versus moving, it is wise to get a professional estimate of your Manassas homes 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. Ill be happy to provide you with a complimentary analysis of your homes 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 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.


Manassas DOWNTURNS


Real estate markets are affected by the economy as a whole and in turn, can affect the general economy. Of course, a buyers dream is to buy Manassas when prices are low and sell when prices are high. However, real estate is not exactly like other forms of investment and most people become comfortable and attached to their homes and are not interested in selling just because the market is right.