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

Haymarket Condos / Buyer Seller Tips

Adjustable Rate Loans for Haymarket


ARMS may be called by various names including, variable-rate loans, adjustable rate loans or adjustable mortgage loans for your Haymarket home. They all feature an interest rate that can vary over the rate of the loan.

Advantages: The monthly payment on a typical ARM is lower in the early stages than the fixed rate loan. This may make it easier for the buyer to afford the Haymarkethome.

Disadvantages: As interest rates increase, your monthly payment may increase or the amount of your payment applied to the principle may decrease which means that you must gamble on property appreciation to offset this increase in your indebtedness.

Haymarket Home Improvement


Don't underestimate how much projects will cost. Expenses usually are added, not subtracted. Homeowners, even Haymarket homeowners, routinely go 20% to 30% over budget. Remember, it is common to under budget cost and time.

When remodeling for resale, don't waste time with renovations that won't pay off. If you must have a pool, you still may have to lower your expectations on who will be interested in buying. The National Association of Realtors/Remodeling magazine study has identified four renovations that show the greatest return at resale: improvements to siding, windows, kitchens and bathrooms. Remember you have a lot invested in Haymarket.

Haymarket. How Much Should You Offer?


A good starting premise is that everyone wants to buy a home for thousands of dollars under market and when the time comes, to sell that home for thousands of dollars over market. This is basic human nature. When you are in the position of making an offer on Haymarket real estate property there are certain facts you need to know.

Is it a Buyers Market or a Sellers Market? In a Buyers Market conditions favor the buyer. Haymarket real estate listings are plentiful, home sales are declining or stagnant. In a Sellers Market the opposite is true. There are more buyers looking for homes than there are homes available. Your low-price offer is far more likely to succeed in a Buyers Market than in a Sellers Market. How do you know what kind of a market exists? Ask your REALTOR, read the newspaper, check online.


Taking Title to Your Haymarket


There are so many details to consider when purchasing your Haymarket and mounds of legal paperwork to read that sometimes it seems overwhelming. Some important decision can be made ahead of time so you know what is in your best interests when the time comes. For example, right at the end when the paperwork is being signed you may be asked how you want to take title. This is an important decision that should not be rushed but often is. Knowing some of the common forms of Haymarket ownership ahead of time is one way to protect yourself.

A single Haymarket buyer will usually want to take title in his/her name alone. Husbands and wives usually own property through a form of joint ownership such as joint tenancy. Unrelated individuals can take title in a limited partnership arrangement.

What Makes Haymarket Sell?


Books have been written about this topic but to be concise, successful sale depends on six factors: Price; Terms; Location; The Homes Condition; The Homes Accessibility and the Marketing exposure the Haymarket receives.

Price is what a willing seller and a willing buyer agree on. Price is determined by the current market, which fluctuates causing home values and prices to fluctuate. Often Haymarket that does not sell is over-priced for the current market. Terms can vary as well. Some owners want payment in full, some are willing to carry a second.

Location is a major consideration in pricing and desirability for Haymarket. Has the neighborhood gone to pot or does it look like a street at Disneyland? Are there open spaces nearby or is the home located in the middle of commercial district?


Haymarket 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 Haymarket 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.