In My Neighborhood in 20169>Question Details

Liz, Both Buyer and Seller in Haymarket, VA

Looking for a new, cheaper place! :)

Asked by Liz, Haymarket, VA Wed Mar 3, 2010

Hi there- I live in a very nice Tournament Home in Dominion Valley (golf course main gate) and I would like to find a great deal in the local areaor closer in (must be gated). I would like to see something that is selling for around $275k and sell my place for around 350k. Just looking to reduce outlay for housing. Is this possible?

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Answers

8
Liz:

As Cindy Jones points out, no way to really answer this question until your specific circumstance is taken into account. Having equity in your home will be a HUGE help on the purchase end. If you are in a short sale situation (owning more on your home than you will make from the sale) then you will be renting for a few years before you can be approved for another loan.

You really need a market analysis of your home's specific worth and you can go from there. That is your first step.

Chris Ann Cleland
Realtor, Licensed in VA
703-402-0037
Long & Foster
1 vote Thank Flag Link Wed Mar 3, 2010
Hi Liz- This is definitely a possibly but there are multiple things that you need to take into account. You would need to know if you have equity in your home or if you would have to rent it out. I would be happy to assist you with a free market analysis of your home. That would be your first step to determining what action you would need to take. I know there area very well as I live in Piedmont. Please contact me at anytime.

Jessica Sanati
jlsanati.realtor@yahoo.com
Office: (571) 261-8800
Cell: (202) 368-3494
homestdrealty.com
0 votes Thank Flag Link Fri Jan 17, 2014
Hi Liz - a lot to take into consideration and a lot of unknown facts at this point but the current market conditions would suggest your ability to downsize depending on your expectations. As far as the sale of your home, the sales price will depend on the Dominion Valley comparables which I would be happy to provide you so you can begin to get a good idea of activity for the past 6 months which is what an appraiser is going to be looking at as well. Let us know if we can help!

Marilyn & Chris Brennan
Long & Foster
(703) 927-1319
Marilyn Knows Virginia!
Web Reference: http://www.brennanteam.com
0 votes Thank Flag Link Wed Mar 10, 2010
Liz, I live in DVCC, actually in a tournament, back gate. I know everything you need to know about selling in Dominion Valley. Let's talk.

Lilia A. DeWald
lilia.DeWald@me.com
703-582-8368
0 votes Thank Flag Link Wed Mar 3, 2010
Liz- I live in DVCC. Contact me and we can chat! Lilia.DeWald@me.com
703-582-8368, Weichert Realtors
0 votes Thank Flag Link Wed Mar 3, 2010
Hi Liz,

I am very familiar with Dominion Valley and the other gated communities in Prince William County. Dominion Valley is one of my favorite communities and I am usually there every other week. I'd love to discuss your particular situation. We offer a fantastic Free Move for clients who are both buying AND selling. Feel free to give me a call at 818-836-1520 or send me an email at Suzanne@Move4FreeRealty.com.

Best regards,

Suzanne Majali
0 votes Thank Flag Link Wed Mar 3, 2010
Liz,

Are you upside down on your current property and need to sell as a short sale or are you in a positive equity position? This makes a difference. Without knowing more details it is impossible to know if your current home is marketable at $350,000. Certainly finding a home that is in the $275K range is possible depending on where you would like to be.

If you are currently in a negative position on your current home, selling it as a short sale will impact your credit and reduce your chances of being able to qualify for a loan on a new property.

Cindy
0 votes Thank Flag Link Wed Mar 3, 2010
Liz,

Yes, it's possible and many are downsizing and/or moving closer in. I'd be happy to discuss it with you in greater detail offline - danilo.bogdanovic@gmail.com - 703.582.6900 (cell).

Danilo Bogdanovic
Real Estate Consultant/REALTOR
0 votes Thank Flag Link Wed Mar 3, 2010
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