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

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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.

Guidelines for Buying Bristow


The Internet is great but nothing really substitutes for your personal inspection of homes that are for sale in the Bristow. 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 Bristow 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.


Bristow: Art and Science


Buying a piece of Bristow real estate is a science but buying your Bristow home is an art. The science part involves getting the legal and financial parts down while the art is finding the Bristow property that youll be happy with.

The total universe of possibilities within the universe of Bristow real estate is quite diverse but narrowing your search ahead of time will help keep things in perspective.

In general there are two phases to any Bristow real estate search. In the first phase, you get a feel for the different areas and an idea of what is being offered at what price. In the second phase, you search for the Bristow real estate that meets all or most of your specifications.


Buying Bristow Below Market


While the perfect Bristow option at the right price might come on the market within a couple of weeks, dont expect that kind of time frame. You must be prepared to wait months for right property, and the Bristow is no exception. Remember, most sellers tend to ask MORE than their property is worth, not less so bargains dont pop up every day. Often times, homes that are on the market for too long a period of time will come down in price as the homeowners get tired of having their house for sale but unless the seller is really pressed, home prices tend to come down is small increments unless there is an unfortunate circumstance that might cause the homeowner to price the Bristow under market for the specific purpose of getting a fast sale.

Choosing Your Bristow Neighborhood


The fact is that much of the value of Bristow 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 Bristow 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 Bristow 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 Bristow


If your Bristow 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.