 |
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
|
|
|
|
|
View Haymarket Real Estate NewsHaymarket Home Improvement
Don't change the general architecture of the home, and make sure that renovations match. For example, a modern steel door doesn't belong on a ranch house built in the 1970s. Be aware of the features in Haymarket.
Do it Yourself?
Be extremely confident you're capable of taking on a project before trying to do it yourself. When it comes time to sell your Haymarket home, believe me buyers can and do spot all the signs of amateur work and they discount their offer accordingly.
Haymarket Real Estate Cycles
During a slow economic time, fewer people are buying homes in the Haymarket market. Even so, some homeowners find themselves in a situation where they must sell. Families grow beyond the capacity of the home, employees get relocated, and some may even find themselves unable to make their mortgage payment - perhaps because of a layoff in the family.
During sellers' markets, Haymarket real estate sells quickly and sellers have a lot of pricing power. As a result, prices rise more rapidly than at other times. During buyers' markets, Haymarket real estate may sit on the market for a while before selling, so sellers become more flexible and may even drop their prices.
Haymarket Real Estate Title Insurance
Buyers in the Haymarket market can be tempted to save money by foregoing a title search but the risks are heavy because title problems are many and varied. Some typical problems that title searches have uncovered include a second mortgage on a home that does not appear to have been paid off. The sellers borrowed money years ago from a parent who insisted that a second mortgage be recorded. The loan was repaid but the title wasn’t cleared. Another typical Haymarket problem occurs when an owner had work done on the property but for one reason or another failed to pay the contractor in full. The contractor filed a mechanic’s lien on the property and it has never been removed. These are liens on the property and if you take title to a property without clearing these liens or encumbrances, you may be responsible them.
Haymarket. How Much Should You Offer?
Or more precisely, what does the seller owe on the property. If a seller owes $400,000 on the Haymarket real estate he or she is not likely to welcome an offer for $350,000. If you want to negotiate price, make sure you don’t waste your time negotiating where there is no room to budge.
Even if the loan is high, if the seller is in default there is a possibility of a short sale as many lenders will reduce the loan balance in order to move the property. Most lenders do not want to foreclose and manage homes and the Haymarket market is no exception.
Buying Haymarket Below Market
While the perfect Haymarket option at the right price might come on the market within a couple of weeks, don’t expect that kind of time frame. You must be prepared to wait months for right property, and the Haymarket is no exception. Remember, most sellers tend to ask MORE than their property is worth, not less so bargains don’t 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 Haymarket under market for the specific purpose of getting a fast sale.
Haymarket APPEAL
A large part of the appeal of the real estate market in any area is the architecture or the style of the homes themselves. The appeal of Haymarket is its appropriateness to the region in terms of style, history and weather conditions.
|
|
|
