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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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Learn About Haymarket HomesHaymarket HOME BUYING PITFALLS TO AVOID
Sellers usually rely on sales of Haymarket homes of comparable value to determine a fair and realistic price to set for their home but many sellers feel their home is worth much more and price their home accordingly. Buyers must also be tuned into sales for comparable homes in Haymarket in order to judge the price of any home that is under consideration.
Being “House Poor” gets to be “Old New” real fast. A large and beautiful home with little or no furniture tends to be empty and cold. A life where almost every dime of income goes to the support of the Haymarket house wears thin very quickly and is a frequent cause of family stress. Pushing yourself right up to your limit leaves you highly exposed when the inevitable changes to the national or your personal economy occurs.
Haymarket. How Much Should You Offer?
Or more precisely, what does the seller owe on the property. If a seller owes $400,000 on the Haymarket real estate he or she is not likely to welcome an offer for $350,000. If you want to negotiate price, make sure you don’t waste your time negotiating where there is no room to budge.
Even if the loan is high, if the seller is in default there is a possibility of a short sale as many lenders will reduce the loan balance in order to move the property. Most lenders do not want to foreclose and manage homes and the Haymarket market is no exception.
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. Let’s 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.
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.
Haymarket INVESTMENT
Investing in Haymarket as a second home or as a rental has many advantages. But before you invest, it is a good idea to acquaint yourself with the actual sales price of similar properties and to get a picture of the Haymarket market in general. Please contact this office for detailed information on Haymarket market
Haymarket SAVINGS
Everyone wants to buy the home of their dreams at the lowest possible price. Here is a tip for making the best Haymarket buying decision. Make sure you know the actual real estate values in the area or areas where you plan to buy so that when you come across a home priced below market, you will know it.
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