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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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Facts About Manassas Homes Values / Buyer – Seller TipsManassas Home Improvement
In a recent study, a midrange bathroom renovation paid off with an average 102% return on investment and an upscale bathroom renovation recouped 93% of its cost. A midrange kitchen renovation recouped 91% of its cost on average, and an upscale kitchen recouped 85%. A minor kitchen-remodeling job returned 99% of its cost. There are numbers that apply to Manassas.
Proper maintenance and annual upkeep of your Manassas home may be the most important improvements of all. Clean the gutters to protect the exterior from water damage. Trim shrubs. Check for termites. Keep track of annual checkups -- and use that as a selling point. Annual maintenance pays back handsomely when you sell. And before the house goes up for sale, experts recommend a fresh coat of paint.
Manassas Disclosure Rule
Tell All is definitely the rule for anyone who is selling Manassas real estate in today’s market. Let the Buyer Beware can easily come back and bite you in a delicate spot—your 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 buyer’s 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 moment’s 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.
Manassas. How Much Should You Offer?
Comparable sales figures is a good guide for homeowners who are pricing their Manassas and a good guide for prospective buyers. Make sure you compare homes that are similar to the one your are considering...the same neighborhood, the same size, the same condition. Also, make sure you compare sales within the past six months.
Ask your REALTOR for a comparison of the list price and sales price of comparable Manassas sales. This information may give you a trend and a guideline for your offer. For example, maybe homes in the area have consistently listed for more than they actually sold for. If that is the case, find out what percentage of reduction occurred. Use this information as a basis for your offer.
Choosing Your Manassas Neighborhood
You’ve probably heard about the three major determinants of Manassas values are: 1) location, 2) location and 3) location. This is not only true about real estate in Manassas; it is true about real estate in general. If you cannot afford what you want where you want it, give up something inside the house rather than settling on a lesser location.
The Benefits of Selling Manassas
As you know, you are allowed to sell your Manassas principal residence once every two years and exclude up to $250,000 ($500,000 for a married couple) of the gain of the sale on your Federal income tax. Please note: This is not a once in a lifetime tax savings and you don’t have to be any certain age or buy a more expensive property. If you meet the two-year residence test you can sell your principal residence every two years if you are so inclined and the market cooperates. But this tax saving does not affect rental property unless you convert the rental to your personal residence, live in it for two years and then sell it.
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