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 Real Estate Sales

Haymarket Homebuyers Quandry


First time Haymarket homebuyers have their issues to deal with and homeowners who want to move up, down or sideways have an entirely different set of problems. A homeowners first task is to counteract human nature. Humans must be genetically programmed to find their next home and then scramble to sell the one they have so they can afford the one they want. The Haymarket market is no exception. Of course, this is contrary to good sense but since most people will go ahead with the Buy then Sell approach.

Buying Haymarket Below Market


On most real estate Websites you can enter the parameters you want for your Haymarket. Include the price, size, features and location and the technology will notify you automatically the moment a property that meets your needs comes on the market. Now if what you are looking for is a particular type of property for a price that is significantly under market, youd better be prepared to act quickly because you arent the only one whos looking for a bargain.

Often times, when a home comes on the market priced under the market there are extenuating circumstances. Maybe the house needs maintenance. Maybe the yard needs work. If you are prepared with a certain amount of knowledge about the costs of roofing, painting, landscaping and other types of deferred maintenance, you will be in a position to evaluate whether or not the Haymarket is priced well enough that it truly is a bargain and not a fixer-upper nightmare.


Buying Haymarket Below Market


While the perfect Haymarket option at the right price might come on the market within a couple of weeks, dont expect that kind of time frame. You must be prepared to wait months for right property, and the Haymarket is no exception. Remember, most sellers tend to ask MORE than their property is worth, not less so bargains dont pop up every day. Often times, homes that are on the market for too long a period of time will come down in price as the homeowners get tired of having their house for sale but unless the seller is really pressed, home prices tend to come down is small increments unless there is an unfortunate circumstance that might cause the homeowner to price the Haymarket under market for the specific purpose of getting a fast sale.

Buying Haymarket Real Estate...Will it Pay?


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 equity in your Haymarket faster by choosing a 15-year loan instead of a 30-year loan.

As a Haymarket real estate owner you have the right to pay more towards the principle loan amount each month. Lets say your monthly payment is $700.00 a month and $100.00 a month is being applied to the principle. If you choose to pay $900.00 instead of $700.00, the $200.00 overage will be applied entirely to the principle. Thus, instead of gaining $1,200.00 a year in home equity, you gain $3,600.00. Investing in Haymarket can be a very good idea.


The Benefits of Selling Haymarket


If your Haymarket holdings consist of both a personal residence and a rental, you can sell your personal residence and exclude up to $250,000 ($500,000 for a married couple) on the gain. Then you move into your rental, live in it as your personal residence for two years and then sell it, again benefiting from the $250,000 or $500,000 exclusion. This is true even though most or all of the increase in value occurred before you converted the property to your personal residence.

Haymarket GUIDE


One of the major benefits that experienced Haymarket agents and brokers provide for prospective buyers is a thorough knowledge of the area and the real estate market. Whether buying in a specific school district is important to you or making sure the home you buy is close to shopping and transportation, a knowledgeable agent is your bust Haymarket Guide.