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

Tips for Selling Manassas Homes and Condos

Shopping for Your Manassas Real Estate Loan


Manassas Real Estate Loans have become part of a worldwide mortgage market and mortgage lending is impersonal and competitive. When you shop for the best loan dont pay too much attention to who is originating the loan. Instead focus on interest rate, points, processing costs and whether you want a fixed rate or an adjustable rate loan. The reason for this is that more than likely, your Manassas real estate loan will be sold to one of the organizations made up of what is known as The Secondary Market.

Manassas Home Improvement


Homeowners hear a lot about improvements that might add value to houses. But less attention is paid to what to avoid. Steer clear of renovations that will cost you money at resale time.

If an Manassas home becomes conspicuously larger -- and more expensive -- than those around it will risk becoming hard to sell. Additions tend not to return their entire investment. The 2005 "Cost vs. Value Report" found that homeowners were able to recoup only 83% of the cost of a family-room addition and 82% of a midrange master suite.

Manassas Real Estate Contract Options


The most common type of listing agreement used between sellers and the real estate broker is known as The Exclusive Right to Sell Agreement. In this agreement the agent agrees to include the home in the Multiple Listing Service (MLS). The details of a Manassas real estate listed in the MLS are available to all agents and brokers and with the advent of the Internet, MLS listings are shown on the World Wide Web.


Rent or Buy Manassas


In the early years of your Manassas mortgage, nearly all of every monthly payment is interest. This means you are only paying off a tiny bit of the loan principal, but it is good news in terms of tax savings.

The monthly payment for a $100,000, 30-year, 8% mortgage on your Manassas would be about $734. In the first year of your mortgage, $7,970 of your $8,805 payment or 91% would be deductible as mortgage interest. Even in the tenth year, almost 81% of your payments would be deductible. What this is worth to you depends on your tax bracket but this tax savings built into the home-buying equation is why you can afford to make higher mortgage payments than your current rent payments without squeezing your budget. There is no similar tax subsidy for renters.


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.



What Makes Manassas Sell?


The Condition affects its salability and possibly price. Manassas that is in move-in condition will usually sell for a higher price than a home that suffers from deferred maintenance.

The Homes Accessibility refers to just that. Is the Manassas accessible to shopping and local transportation? For some this would be a necessity and for others, the more remote the better.

Marketing Exposure refers to how Manassas is advertised. Today the Internet is a fantastic way to market a home but it is still true that the best service a listing agent can do for sellers is to promote the home heavily with local brokers and agents. The Internet and other advertising certainly help, but it is still true that in most cases it is the agent that sells the home by making sure the right buyers know about it.