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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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Search For Bristow Real Estate Data / Buyer – Seller Tips Adjustable Rate Loans for Bristow
ARMS may be called by various names including, variable-rate loans, adjustable rate loans or adjustable mortgage loans for your Bristow home. They all feature an interest rate that can vary over the rate of the loan.
Advantages: The monthly payment on a typical ARM is lower in the early stages than the fixed rate loan. This may make it easier for the buyer to afford the Bristowhome.
Disadvantages: As interest rates increase, your monthly payment may increase or the amount of your payment applied to the principle may decrease which means that you must gamble on property appreciation to offset this increase in your indebtedness.
Bristow HOME BUYING PITFALLS TO AVOID
Sellers usually rely on sales of Bristow 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 Bristow 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 Bristow 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.
Bristow Homebuyers Quandry
When you find the home you want to buy you may make an offer contingent upon the sale of your existing Bristow. In a Seller’s Market, offers with such contingencies are not well received because the seller must remove his home from the market while you sell yours. However there are times when this kind of offer is successful, even in the Bristow market. A backup strategy might be to put in your offer with a very long escrow giving yourself time to sell your home. Very few sellers will accept these kinds of contingencies or long escrows if your house is not already on the market.
Bitten by the Bristow Home Improvement Bug?
Money isn’t everything however so that if the most important consideration for remaining in your Bristow home happens to be the school where your children attend or the proximity to your work or to a particularly attractive recreational opportunity then remodeling may be the best option. On the other hand, if the idea of having your Bristow house torn up for weeks at a time makes your blood run cold, it really doesn’t matter how much money you might make turning a fixer-upper into a model home. You will be far better off selling the home you have and moving to a home that better fits your needs.
Buying Bristow Below Market
Isn’t that everyone’s dream? I hear it from prospective buyers almost every day and many of them want to find the perfect Bristow home priced considerably under market. Is it possible? The answer may surprise you but often it is possible. You just need a sophisticated buying strategy.
Now the idea that you can simply decide one day to go house hunting and find just the Bristow real estate you want priced way under market is pushing your luck. But if you take advantage of some of today’s Internet technology, do your homework and bide your time, you might find just what you are looking for. First let’s look at the technology.
Taking Title to Your Bristow
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 Bristowand 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 Bristow. If one owner dies, that person’s 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 Bristow in this way. Title is in the community
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