Braemar Property Value Report: May-June 2018 (Ryan Homes)

Braemar Property Value Report: May-June 2018 (Ryan Homes)

It may not have felt like all that bad of a thunderstorm, but the storm we had around 2pm today in Bristow knocked a big tree down off of Tartan Hills Parkway in Braemar.  Thankfully, the tree isn’t blocking the road, but it is blocking the path on the Broadsword Drive side of Tartan Hills Parkway.  I was on my way to re-stage a listing that just came back on the market when I saw that downed tree.  Turns out our neighborhood is great at keeping our on-site managers informed.  I called as soon as I drove past the tree, but the staff was already aware and had phoned it in to BrightView.

Right now, it is time for another Braemar Property Value Report.  This one focuses on single family dwellings built by Ryan Homes in our neighborhood.  And while there were no sales of Ryan Homes to report in May and June we still have updated data from the past year to review.

There is some contradictory sold price data when we compare the six month sold prices to the twelve month sold prices.  Increase in six month over twelve month sold prices means values are going up.  Decreases in six month compared to twelve month sold prices means values are slipping.  Well, the six month average sold price is higher than the twelve month average, but the six month median is lower than the twelve month median.  Since neither marks a huge change in either direction, this is a sign of stability in sold prices of Ryan Homes.

The seller subsidy in the six month values is a good chunk below the seller subsidy in the twelve month values.  This means sellers of Ryan Homes have not been giving their buyers as much in closing cost help.  Another good trend is that days on market is down in the six month values compared to the twelve month values.  This means it is taking less time to sell Ryan Homes in Braemar.

If you placed your Ryan Home on the market, priced to current conditions, you could expect it to be under contract in a month.  You could also expect to pay less than 1% of the sales price in closing cost assistance.

The next Braemar Property Value Report will be out in September.  Until then, if you want to know how the most recent sales activity in Braemar is affecting your home’s values, give me a call at 703-402-0037.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

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Braemar Property Value Report: May-June 2018 (NV Homes)

Braemar Property Value Report: May-June 2018 (NV Homes)

The opening sentence of my Braemar market reports always seems to be the hardest to get past.  Sure I’ve examined the sales and crunched the numbers myself, which puts me way above what most Bristow area agents are willing to do for their market area.   Somehow, the most intimidating factor about the reports is the open.  It’s a good thing we are past that part now and this Top Braemar Real Estate Agent can share some valuable information with you.

This particular Braemar Property Value Report focuses on the sales activity of NV Homes in Braemar during the months of May and June.  That activity includes four NV Home sales, all of which are listed in detail below:

After laying out the data for the two month reporting period, I then go back and put these sales for May & June 2018 in place of the May & June 2017 sales.  That gives us twelve months worth of data points that I slice into six month and twelve month average and median values.  Here’s what we get with the updated values:

The way to compare six and twelve month data samples is see what changes are happening in the short term (six months) compared to the long term (twelve months.)  Well, the first thing we examine are the sold prices.  Both six month values are above the twelve month values, which is fantastic.  There is a particularly larger jump from the twelve month average sold price to the six month average sold price.  Values of NV Homes in Braemar are going up.

Another good trend for Braemar NV Home sellers is the decrease of seller subsidy (closing cost assistance to buyers) in the six month values to the twelve month values.  Likewise, a reduction in time it takes to go under contract in the six month values is great to see compared to the twelve month values.  In particular, the six month average days on market is substantially lower than the twelve month average.  All good news for NV Home owners in Braemar.

If you placed your NV Home on the market, priced to current conditions, you could expect your property to be under contract in a little more than a week.  You could also expect to pay about one half to three quarters of one percent of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in September.  Until then, when you want to know the value of your home in today’s market, or the optimum time of year to sell, give a call at 703-402-0037.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

 

Braemar Property Value Report: May-June 2018 (Heritage Series)

Braemar Property Value Report: May-June 2018 (Heritage Series)

It’s a dreary Monday in Braemar.  At least it isn’t raining.  After Saturday’s all day down pour, I am thankful for the break.  Of course, there is no break when it comes to selling real estate, at least not for this Top Braemar Real Estate Agent.  Time to get out another Braemar Property Value Report.  This one focuses on sales of Heritage Series homes in May and June.  Heritage Series homes are mid-sized single family homes, built by Brookfield Homes.  They have two car attached garages and include the following floor plans:  Exeter, Yardley, Zachery (a.k.a. Zurich) & Waverly.  The homes built by Coscan in Braemar North Gate are also included in this group, as they are similar in size.

There were eight Heritage Series homes that sold between the beginning of May and end of June.  The details of each sale are listed below:

You can see there is a wide range of sold prices, but most of the sales are grouped around $470,000-$475,000.  When we take these sales and update our twelve months worth of Heritage Series sales, here is what come up with:

While the increases in average and median sold price in the six month values compared to the twelve month values are not huge, they are still increases.  That’s good to see when you look at the most recent activity.   Seller subsidy (closing cost assistance to buyers) is unchanged in the six month median compared to the twelve month median.  The seller subsidy is the six month average is every so slightly less than the twelve month average.  Marketing time has come down from the twelve month average and median days on market when compared to the six month average and median value.   These are all good trends, no matter how slight.

If you placed your Braemar Heritage Series home on the market, priced to current conditions, you could expect it to be under contract in about two to three weeks.  You could also expect to pay 1% to 1.5% of the sales price in closing cost assistance.

The next Braemar Property Value Report will be out in September.  Until then, when you want to know how the most recent sales in the neighborhood are affecting your specific home’s value, give me a call at 703-402-0037.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

 

 

Braemar Property Value Report: May-June 2018 (Courtyard Series)

Braemar Property Value Report: May-June 2018 (Courtyard Series)

The one thing about the rainy and cloudy days we have been having in Bristow is that the typical soaring July temperatures are not soaring at all.  I think I saw eighty-four degrees on my thermometer today.  While I’m not a fan of torrential rain or cloudy, stormy days, I’ll take the cool down in temps.

Rainy days are always good days for this Top Braemar Listing Agent to share with you my Braemar Property Value Reports.  This particular report will focus on sales in the Courtyard Series homes.  Braemar Courtyard homes are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Ballston and Clarendon.

Like many reports in the last thirteen years, there were no Courtyard home sales during our reporting time frame.  Thankfully, because I have been employing a different method of tracking value, we still have an updated look at what is happening in the short term (six months) compared to the longer term (twelve months.)  Our updated figures, dropping the sales from May and June last year, look like this:

Looking at the six month average and median sold prices compared to the twelve month average and median sold prices, we see a slight drop in values.  Not to worry.  The drop is very minimal.  The six month average seller subsidy (closing cost help to buyers) is higher than the twelve month average seller subsidy.  Again, not to worry.  The six and twelve month median seller subsidy figures are identical.  Meanwhile, days on market is practically the same in the six month average and twelve month average.  The six and twelve month median days on market is exactly the same.  This is stability for Braemar Courtyard home prices.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in about thirty days.  You could also expect to pay about 2.5% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in September.  Until then, if you have been considering the sale of your Braemar home, don’t count out the fall market.  It’s what I call our second spring market.  Want to know more about that, or the specific value of your Braemar home in our current market, give me a call at 703-402-0037.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

 

Braemar Property Value Report: May-June 2018 (Carriage Series)

Braemar Property Value Report: May-June 2018 (Carriage Series)

What a gorgeous Friday it was in Bristow.  I hope you enjoyed it because this weekend is going to rainy and stormy.  In fact, I received a weather alert on my phone that the week of upcoming rain may result in some flooding in our area.  Please be careful when driving in low lying areas.

Right now, it is time for another Braemar Property Value Report.  This one focuses on the sales of Braemar Carriage homes during the months of May and June.  In case you don’t know what defines a Braemar Carriage home, they are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

There were five Braemar Carriage homes that sold during the months of May and June.  The details of the sales are below.  I am very pleased to tell you that the sale of 10143 Broadsword Drive, highlighted in a magenta color, was my listing that set a record high sold price for Parkdale model homes in Braemar.

When we take these five sales and put them in with our rolling twelve months of Braemar Carriage home sales, here’s what we find when pull out our six month and twelve month average and median data points:

The six month average sold price is quite a bit higher than the twelve month average sold price.  Meanwhile, the six month median sold price is a tad higher than the twelve month median.  This means Braemar Carriage home values are going up.

When looking at seller subsidy (closing cost help to buyers) has decreased slightly in the six month values compared to the twelve month values.  That’s a step in the right direction for Braemar Carriage home sellers.  And marketing time is also down a little bit in the six month average and median values compared to the twelve month values.  More movement in a good direction for Braemar Carriage home sellers.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in about two weeks or less.  You could also expect to pay about 1% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in September.  Until then, it is very important to remember that the agent you hire to sell your Braemar Carriage home can mean a substantial difference in your sales price.  If you want the best chance at getting the most from your Braemar homes sale, trust the agent that sets record high prices.  Give me a call at 703-402-0037.  Since 2005, No One Knows Braemar Better!

 

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

Just Sold: Four Bedroom Patio Home in Braemar for $355,000

Just Sold: Four Bedroom Patio Home in Braemar for $355,000

On June 12th (2018,) I was thrilled to list 9826 Earls Ferry Circle for sale at the price of $349,000.  It was a high demand home, having three large bedrooms and two bathrooms on the upper level and a fourth bedroom with adjoining full bathroom on the main level.  Main level bedrooms are hard to find.

Looking at the comparable sales, the most encouraging thing was a much more upgraded home of the same style at 9863 Earls Ferry Circle listed for $364,990 had gone under contract in only four days. With that quick marketing time, it was safe to assume it had a full price offer.  I had listed that very home at 9863 Earls Ferry for sale years before and it had been gorgeous then.  Unlike 9826 Earls Ferry, the home had been renovated to include hardwood floors on the entire upper level, the kitchen was decked out with granite counters, a tile back splash and a ceramic tile floor, the bathrooms had upgraded vanities, and it also had a new roof and newer A/C.  The difference between that home and my new listing at 9826 Earls Ferry seemed to be about $15,000 in upgrades.  So we chose the price of $349,000.  We had no kitchen upgrades outside of a new refrigerator, no upgrades to the bathrooms, no new roof, no hardwood floors in the bedrooms and no new A/C.  Seemed a very reasonable take on the competition and how we stacked up.

Within a day of being on the market, we had a full price offer, but the buyer wanted a lot of closing cost help.  So the seller waited  a few days to collect offers, and sure enough, got an offer at $360,000 in which the buyer had rolled their requested closing costs of over $10,000 into the increased sales price.  As I do with all my listings, I met the appraiser at the property with comps in hand.  All I needed was to show the home’s worth at a net sales price of $349K.  Most appraisers do take closing cost assistance into consideration.  The owners were also going to install new carpeting when their tenant vacated, as part of the contract with the buyer.  However, the appraiser wouldn’t take that upgrade into consideration.  The appraised value came in at $355,000.

Thankfully, the buyers and sellers were able to adjust other terms in the contract to keep the deal alive.  Nixing the new carpet from the contract saved the seller.  And the buyer lowered his closing cost help request to $8,500.  I was so bummed the appraisal hadn’t come in, but when I spoke with the listing agent of 9863 Earls Ferry, they expressed they had also had appraisal issues.   I couldn’t understand how, but that impacted us as well.

Despite our low appraised value of $355,000, which became our sales price, we still sold for more than the much better competition of 9863 Earls Ferry which sold for $350,000.  The net sales price difference was only $3,500 less, but I guarantee the updates in the competition were worth WAY more than that.  My sellers did very well as it turned out.  That’s the difference a local agent can make.

When you are ready to sell your Braemar home, give me a call at 703-402-0037.  I will never undersell your home.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

Braemar Property Value Report: May-June 2018 (Arista Series)

Braemar Property Value Report: May-June 2018 (Arista Series)

Braemar Property Value Report:  May-June 2018 (Arista Series)

In my comings and goings out of the Tartan Hills Village section of Braemar, I have been noticing a lot of Canterbury style homes on the market.  While the activity happening right now won’t show up in this edition of the Braemar Property Value Report, the Arista Series home sales that happened between May and June will be covered here. If you don’t know what an Arista Series home is, it is the larger single family homes in Braemar, built by Brookfield Homes, and include the Allister, Buckingham and Canterbury floor plans.  These homes are found in New Castle Village, Highland Village and the Tartan Hills area of Braemar.

There were two Canterbury models that sold during May and June.  The details of those sales are listed below:

When we take these two sales and combine them with our rolling twelve months of Arista Series home sales and update our six and twelve month data points, here is what we see:

The first thing you may notice is that both sales that happened in our current reporting period have higher sold prices than the six month average and median sold prices.  That’s great.  And that is probably what is pulling the six month average and median sold prices up over the twelve month average and median sold prices.  Higher sold prices in the short term (six month range) compared to the long term (twelve month range) means increasing home values.

When it comes to seller subsidy, the six month average and median are a little lower than there twelve month average and median values.  This is also a good trend.  It means Braemar Arista Series sellers are giving less in closing cost assistance to buyers. Unfortunately, the marketing time seen in the six month average and median values is higher than the twelve month marketing values.  While home values are increasing, it may be taking longer to get under contract.

If you placed your Braemar Arista Series home on the market, priced to current conditions, you could expect it to be under contract in about three months.  However, if the current trends I am seeing with Canterburys on the market, sporting under contract riders on the sign posts in a matter of a one a week or two is any indication, this number may be higher than what we are currently experiencing in our summer market.  This report also indicates you could expect to pay about 1.5% of the sales price in closing cost help.

The next Braemar Property Value Report will be in September.  Until then, if you want to know how the current market is affecting your specific home’s value, give me a call at 703-402-0037.   Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com