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 Summary

Buying Manassas Real Estate...Will it Pay?


A frequent question from prospective homebuyers relates to building home equity. Manassas buyers like to estimate how much a home may increase in value based upon past appreciation. One of the many advantages of home ownership is that appreciation is based on the homes market value rather than on the actual dollar amount invested or the down payment so that a $100,000.00 home that appreciates 5% is now worth $105,000.00. This is one way of building your Manassas home equity but there is more you can do.


Does Your Manassas Have Curb Appeal?


Every prospective buyer who visits your Manassas home is struck by a variety of impressions regardless of whether your landscaping is eye-catching or merely so-so. Plants that overrun the walkway, trees that badly need pruning and visible suggest to the prospective buyer that this home will take a lot of landscaping maintenance and yet if your yard is well-maintained, the prospective buyer is inclined to simply admire the fact and move on. If your Manassas front porch or front door need paint, the prospective buyer is likely to notice the paint job inside and out and think about how much maintenance that will take on a yearly basis. The important message here is that things that look bad or run down call attention to all the work that needs to be done while things that are well maintained conjure up ideas of how pleasant it would be to live there.

Taking Title to Your Manassas


Each owner has a separate title to an undivided interest in the entire property. Each owner is allowed to sell, mortgage or give away his/her interest. Any number of people can take Tenancy in Common ownership of Manassasand husband and wife may choose this option as well. When an owner dies, his/her interest passes by will to his/her heirs. In other words, there is no survivorship right.

Each owner has an equal interest in the Manassas. If one owner dies, that persons share of the property passes automatically to the other without going through probate. Any number of people can take ownership under Joint Tenancy and husband and wife may choose this option as well.

Community Property. Only husband and wife can take title to Manassas in this way. Title is in the community


The Benefits of Selling Manassas


If your Manassas 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.

Tips for Buying or Selling Manassas


Most people, when they want to buy a house, contact a real estate agent or broker. That is why it is true that the best way to sell your Manassas is to list your property with a qualified agent. Make sure that the agent you select will list your home in the local MLS and will make sure your property appears on the Internet. Since most buyers start their search online, you want to make sure that your Manassas is available to those who search the Internet.


Tips for Buying or Selling Manassas


Most experienced real estate agents and brokers already have Websites that showcase their local MLS data so your Manassas can show up online as soon as it is listed. On the other hand, if you are selling on your own it will take time or a considerable advertising budget to get your individual Manassas property to show up on the major search engines where prospective buyers will find it. You could tap into one of the several For Sale by Owner Websites but that would limit your market of buyers.

Buying real estate in Manassas is also much easier when you work with a real estate agent who knows the area and the market. While there is a great deal of information online about real estate asking prices, it is not always so easy to find out what a property actually sold for. And even then, specific terms of a sale often make a difference in how to interpret the sales price.