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

Manassas Real Estate Guide

Guidelines for Buying Manassas


The Internet is great but nothing really substitutes for your personal inspection of homes that are for sale in the Manassas. When you have visited plenty of homes online and in person when the right property comes along you will know it.

It is perfectly normal for buyers to have a general idea of what they want in a home without a great deal of specificity. Research, both online and in person will help you define your Manassas needs but you can and should know your financial needs before you even start looking. I recommend that buyers go through the process of prequalifying with a lender or at least with a real estate agent in order to narrow the search among homes that are a possibility. Many agents refuse to show homes to prospective buyers who have not been pre-qualified.


Manassas Real Estate Title Insurance


A Manassas mortgage policy that insures the lender remains in effect until the loan is paid off. An owners policy insures the buyer and remains in effect as long as the owner or the owners heirs own the property. An owner policy may cost a little more than a lender policy. For example, an owner policy may run somewhere around $3.50 per $1000.00 of home value while a policy for lender protection may run in the neighborhood of $2.50 per $1000.00 of home value.

The Manassas real estate Title Company searches and examines public records to determine if any problems with the title exist. Your real estate agents works very closely with the Title Company to help clear up any past clouds that may affect the transfer of title to the new owner.


Choosing Your Manassas Neighborhood


The fact is that much of the value of Manassas and real estate in general rests in its surrounding economic and social environment, which means its neighborhood. In addition to being located in the right neighborhood, the Manassas that you buy must not clash with its surroundings. To picture what we mean here, visualize the most expensive home you can imagine and then place it in the middle of a run down neighborhood. Not so desirable is it?

To sum up, the Manassas that you buy gets its value from a combination of the homes location and its size, style, age and amenities. You can change the homes size, style and amenities but you are stuck with the location.

The Benefits of Selling Manassas


In order to sell Manassas as your personal residence, you must have lived in it for two out of the five-year period ending on the date of the sale of the property. This means that you can buy a second home and live in it as your personal residence while renting out your first home. If, in a couple years you decide to sell your first Manassas personal residence you can sell it and still benefit from the $250,000 to $500,000 Capital Gain tax exclusion. The law says that the home must be your personal residence for at least two out of the past five years.



When Manassas Does Not Sell


Lets say a home is in excellent condition but simply messy. The cat box needs changing, the dog dish is a mess, the dishes havent been put into the dishwasher and the beds are not made. Should these conditions affect the price of the Manassas? No, but they do. Take two identical houses next door to each other and priced the same. The sparkling clean house will sell much faster than the messy house and the messy house will more than likely sell for a lower figure. This is true of Manassas as well as real estate nationwide.

When a home does not sell, the owners tend to think that the REALTOR didnt do a good enough job of promoting the property. There is a difference among agents and brokers and some will promote a property more than others. However, the main and most important method of promoting Manassas for sale is listing it in the local MLS.

Manassas BASICS


Location, location, location pretty much describes the basics of all real estate markets and the Manassas market is no exception. A lovely estate home next door to a power plant or on a hill where major sliding has occurred is not as valuable as that same home in a quiet, tree-lined neighborhood. This is why most astute buyers tend to rely on real estate agents who are well versed in the community and know the area well.