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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Haymarket Real Estate Contract Options


Less common types of agreements include what is known as a One Time Show, and Exclusive Agency, and an Open Listing agreement. The One -Time Show and the Open Listing are similar and are often used by homeowners who wish to sell their Haymarket real estate on their own but will agree to pay a commission to an agent who brings a qualified buyer for the home. A Haymarket homeowner may agree to an Open Listing with several agents and also agree to a One-Time Show to any agent who has an interested buyer.

Buying Haymarket Real Estate...Will it Pay?


With a typical 30-year loan, most of your monthly payment goes toward interest payments with only small amounts going to the principle in the early years. Only half the principle is repaid in the first 23 years of the loan. You can build equity in your Haymarket faster by choosing a 15-year loan instead of a 30-year loan.

As a Haymarket real estate owner you have the right to pay more towards the principle loan amount each month. Lets say your monthly payment is $700.00 a month and $100.00 a month is being applied to the principle. If you choose to pay $900.00 instead of $700.00, the $200.00 overage will be applied entirely to the principle. Thus, instead of gaining $1,200.00 a year in home equity, you gain $3,600.00. Investing in Haymarket can be a very good idea.


The Benefits of Selling Haymarket


If your Haymarket 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.

What Makes Haymarket Sell?


Books have been written about this topic but to be concise, successful sale depends on six factors: Price; Terms; Location; The Home's Condition; The Homes Accessibility and the Marketing exposure the Haymarket receives.

Price is what a willing seller and a willing buyer agree on. Price is determined by the current market, which fluctuates causing home values and prices to fluctuate. Often Haymarket that does not sell is over-priced for the current market. Terms can vary as well. Some owners want payment in full, some are willing to carry a second.

Location is a major consideration in pricing and desirability for Haymarket. Has the neighborhood gone to pot or does it look like a street at Disneyland? Are there open spaces nearby or is the home located in the middle of commercial district?


When Haymarket Does Not Sell


Here is where your agents expertise and diligence comes into play. A top agent will consider what similar Haymarket have sold for within the last 3 to 6 months and compare those homes condition, features and location with your home. If there are no comparable sales in the area, which is often the case with custom or one-of-a-kind properties, the agent may suggest that you obtain a formal appraisal.

A homeowner who must sell and sell quickly needs to price their Haymarket at or slightly below market to ensure a quick sale. A different homeowner may want to sell but has time and wants to get the top market price. These homeowners will often price the home slightly above current market prices and expect interested buyers to offer a lower amount to start the negotiation.


Haymarket ADVANTAGE


The advantages of buying in any particular city or area depend on the buyers individual needs. Factors include proximity to schools, work, shopping, recreation, cultural opportunities and health care. Affordability is another important factor. So your first step in considering Haymarket or any other city is to determine which of your needs are met and which are not met.