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 Search / Buyer Seller Tips

Haymarket Housing Patterns


Haymarket Housing patterns tend to be homogenous, meaning homes worth $100,00 are located in $100,000 neighborhoods. It is important for properties to be within the general pricing patterns of their neighborhoods because over-valued homes, even if they are exceptional, are sometimes difficult to sell at full market price. Remember, lenders want to compare your home to nearby homes. If your Haymarket real estate is located in a neighborhood of $100,000 homes but you have added another $100,000 in improvements, you may have over- improved your property in that lenders will be reluctant to lend the higher amount.

Many sellers think that the price of their home is determined solely by what they are willing to accept and what the buyer is willing to pay. However, the lenders appraisal in Haymarket is one more variable and it can complicate the sale of your home. In these cases, it helps to have a knowledgeable REALTOR working on your side.


Haymarket Home Buying Pitfalls


Buying your Haymarket home whether you are a first time buyer or an Old Pro involves legal, financial and emotional considerations. The more you know about the most common buyer mistakes in Haymarket, the more likely you are to avoid them.

Make sure that when you put in an offer on any Haymarket home that you have spent time narrowing down just what you are looking for. When the sellers accept your offer, you are involved in a binding contract that could cost you your deposit and other damages should you decide to back out. The opposite scenario, waiting for the 100 % perfect home can be an exercise in futility. With the thousands of variables available in housing, including location, style, size, amenities and condition, perfection is almost always an unreasonable goal.


Haymarket Real Estate Cycles


One problem with attempting to time your purchase to the business cycle is that even experts have problems accurately predicting the future economy. Even when they can, the Haymarket market does not necessarily move in tandem with the stock market or the economy as a whole. Haymarket is a unique situation.

When the economy is doing well, interest rates are generally higher. The result is that fewer people can afford houses, and Haymarket is no exception. When the economy slows down, interest rates fall, the "affordability index" moves up and more people can afford houses. The Haymarket market will take the lead.


Haymarket: Art and Science


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

The total universe of possibilities within the universe of Haymarket 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 Haymarket 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 Haymarket real estate that meets all or most of your specifications.


Bitten by the Haymarket Home Improvement Bug?


Unless money simply isnt an issue, the financial implications of remodeling are definitely something to consider. When it comes time to sell your Haymarket home, the new buyer will usually not pay for over-improvements. This means that if you have the smallest home in an area of larger, more expensive homes, home improvements may make very good financial sense. However, if you already have the largest, most expensive home in Haymarket, more improvements may make you more comfortable but may not bring you a good financial return. You may find that it is financially wiser to sell and move to a different home that already has the features you want to add.

Choosing Your Haymarket Neighborhood


Youve probably heard about the three major determinants of Haymarket values are: 1) location, 2) location and 3) location. This is not only true about real estate in Haymarket; 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.