Just in Time for the Holidays, Another Braemar Carriage Home Sold

Just in Time for the Holidays, Another Braemar Carriage Home Sold

One one month ago today I listed 13236 Daldownie Court, a three bedroom Norwood model Carriage home for $429,000.  It didn’t take long for the buyers in the marketplace to respond.  The sellers had two offers within two days on the market.  Year end demand is not unusual in our Braemar real estate market.

After an uneventful home inspection and appraisal, the only issues left to resolve for the buyers were HOA covenant violations.  Yes, complying with HOA violations is a necessary thing for sellers in any HOA community.  And even though there the sellers didn’t technically violate any covenants, the bookkeeping with the on-site community management is far from the greatest.  These sellers were violated for a retractable awning that the Braemar Community Association said there was no need to apply for, back in the day,  as long as it matched the exterior trim or siding.  The other violation was having flagstone pavers put in by the builder.

What a reasonable person sees as logical, and can prove, is tossed aside by the covenants administrators.  They like applications on file.  So the sellers filled out an application for both and were in compliance.  A grand waste of time, but I did advise the buyer’s agent that the new owner should hold onto the HOA abatement letter stating the items were in compliance.  Heaven knows they will get violated again when it is their turn to sell.

Today, December 6th (2019) this Braemar Carriage home sold for $430,000.  The buyers were fortunate to get some closing cost help, but less than half of what they had requested.  That’s what happens when lack of inventory puts buyers in competitive situations.  Closing cost help requests are negotiated down, or aren’t even made.

If you have been considering the sale of your Braemar home, don’t think there is only one season that will bear out a favorable sales price.  I sell Braemar homes for top dollar all year long.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

Braemar Townhouse Report: September-October 2019

Braemar Townhouse Report: September-October 2019

It is a good thing that I’m not an avid retail shopper.  If I were, being under the weather on Black Friday would be torture.  As it stands it is a rather convenient day for a Top Braemar Real Estate Agent to get sick because this is not a prime real estate day.  What it is a great day for is to share with you my latest Braemar Townhouse Report.  This one details the sales of traditional Braemar townhouses during the months of September and October.  And in case you were wondering, a traditional townhouse is one that has three levels, is attached only on the side (s) and has a slight backyard.

There were ten Braemar townhouses that sold during our current reporting period.  Sold prices ranged from $300,000 to $385,000.  The details of all ten sales are listed below:

Taking all of these sales and combining them with the entire past twelve months of Braemar townhouse sales, our six and twelve month data points are updated as follows:

Starting with sold prices, it is great to see that both the six month average and six month median sold prices are above their respective twelve month values.  This means that Braemar townhouse values are continuing to push up.

Unfortunately, we also see an across the board increase, though not dramatic, in the seller subsidy column.  Seller subsidy is closing cost help that sellers give buyers in a sale.  Both the six month average and six month median are higher than their respective twelve month values.  This means Braemar townhouse buyers have been asking for, and receiving, more closing cost help from sellers.

When it comes to days on the market, there has been no change in marketing time from the six month median to the twelve month median values.  Meanwhile, the six month marketing time is only one day shorter than the twelve month marketing time.  Braemar townhouses are selling as fast as they have been the last year.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to take no more than four weeks to go under contract.  You could also expect to pay about 1.5% of the sales price in closing cost help.

The next Braemar Townhouse Report will be out in January.  Until then, I wish you every happiness this holiday season.  Of course, if the need arises to sell your Braemar townhouse before the next report, don’t hesitate to call, text or email me. I sell homes for top dollar no matter the season.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

Braemar Property Value Report: September-October 2019 (Ryan Homes)

Braemar Property Value Report: September-October 2019 (Ryan Homes)

On this Thanksgiving Eve it is my pleasure to present another Braemar Property Value Report.  This particular report covers the sales of homes built by Ryan Homes in Braemar during the months of September and October.

There were two Ryan Homes that sold.  Sold prices were substantially different at $475,000 and $512,000.  The details of both of those sales are below:

Combining these two sales with the entire past twelve months of Ryan Home sales in Braemar, our six and twelve month data points are updated to reveal the following:

Looking first at the sold price column, it is great to see both the six month average and six month median sold price above their respective twelve month values.  This means the values of Ryan Homes in Braemar are still pushing up.

When it comes to seller subsidy, which you may know as closing cost help to buyers, we see a trend that doesn’t favor sellers.  Both the six month average and six month median seller subsidy figures are higher than their respective twelve month values.  This means buyers have been requesting, and receiving, more closing cost help in the more recent deals.  This could be an early indication of a shift from a seller’s market coming our way.  Seller subsidy tends to decrease in seller favored markets.

Finally, the days on market column reveals not much of a change in marketing times from the six month average value from the twelve month average.  And there could not be more evidence of stability in marketing time than seeing that the six month median and twelve month median marketing times are identical.

If you placed your Ryan Home on the market, priced to current conditions, you could expect it to be under contract in under three weeks.  You could also expect to pay about 1% of the sales price or so, in closing cost help.

The next Braemar Property Value Report will be out in January.  I hope you will enjoy your holidays in the meantime.  Of course, if the need arises to sell your Braemar home before you next hear from me with another of these reports, please don’t hesitate to get in touch.  I work every month of the year getting top dollar for my Braemar sellers.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

Braemar Property Value Report: September-October 2019 (NV Homes)

Braemar Property Value Report: September-October 2019 (NV Homes)

As soon as I finish typing up this most recent Braemar Property Value Report, I am heading to the grocery store.  There is nothing more stress inducing this time of year than having to grocery shop on Wednesday, or even Tuesday, before Thanksgiving.  One of the joys of being a Braemar Real Estate Agent is that I can do my chores during regular business hours while the nine to five world is working.

In this edition of the Braemar Property Value Report, I focus on sales of homes built by NV Homes in our neighborhood during the months of September and October.  During that time, there were two NV Homes that sold.  The details of those sales are listed below:

Taking these two sales and combining them the entire last twelve months of NV Home sales in our neighborhood, our six and twelve month data points are updated. These are the data points that give us indications as to where our market is heading.  Our updated data points are pictured below:

Looking first at the sold price column, we see that both the six month average and six month median sold prices are below their respective twelve month values.  This is not a good sign, and if it is continues in the next report, could indicate the softening of values of the larger single family homes in Braemar.  Given the other data points, it may just be a fluke this report.  Allow me to continue.

Seller subsidy, also known as closing cost help to buyers, shows a trend indicating competitive demand.  Both the six month average and six month median seller subsidy value are less than their respective twelve month values.  This means buyers have been asking for less closing cost help, which is is generally an indication of a healthy, seller favored market.

Days on market is another column that shows stability to seller favored conditions.  The six month median marketing time is exactly the same as the twelve month median marketing time.  Meanwhile, the six month average marketing time has shortened by three days from the twelve month average marketing time.  NV Homes aren’t taking any longer to sell, and may in fact, be selling a tad faster.

If you placed your NV Home on the market, priced to current conditions, you could expect it to be under contract in less than three weeks.  You could also expect to pay about 1.5% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in January.  Until then, I wish you every happiness this holiday season.  Of course, if the need arises to sell your Braemar home before our next report, don’t hesitate to call, text or email me.  I sell Braemar homes for top dollar no matter the season!  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

Braemar Property Value Report: September-October 2019 (Heritage Series)

Braemar Property Value Report: September-October 2019 (Heritage Series)

As we near the Thanksgiving holiday, you can feel the excitement in the air.  Preparations and plans are being made for celebrations with family and friends.  Some may think that not much would be happening in the world of local real estate.  I am here to tell you that there is plenty happening in real estate.  In the last three days I got two properties under contract.  That’s what a professional, full-time agent does…they sell real estate no matter the season.  And yes, even though this is a lazy Saturday afternoon for many, I am happy to be typing up this Braemar Property Value Report.

This particular report focuses on sales in the Heritage Series.  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 nine Heritage homes that sold in Braemar during our current reporting period of September and October.  Final sold prices ranged from $432,600 to $550,000.  The details of those sales are listed below:

Taking these nine sales and combining them with the entirety of the previous twelve months of Heritage home sales, we get updated six and twelve month data points that give us a snapshot of the health of our Braemar Heritage home market.  Those updated values are below:

Starting with the sold price column, we see that both the six month average and six month median sold prices are above their respective twelve month values.  This means that values for Braemar Heritage homes are still pushing up.

Seller subsidy, also known as closing cost help to buyers, has remained at zero in both the six and twelve month median values.  That means in both sets of sales data, more than half the sales have NOT given closing cost help.  However, the six month average has risen when compared to the twelve month average.  When buyers are asking for closing cost help, it seems that it is more in the recent sales.

When it comes to days on market, there has been no change at all in the six month median and average compared to the twelve month median and average.  It is taking about the same amount of time it did a year ago to sell a Braemar Heritage home.

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect it to be under contract in less than two weeks.  You could also expect the odds to favor  you that you land a buyer that does not request closing cost help.

The next Braemar Property Value Report will be out in January.  Until, I wish you all the best this holiday season.  Of course, if the need arises for you to sell your Braemar home before next year, don’t hesitate to call me.   I sell Braemar real estate every month of the year for top dollar.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

 

 

Braemar Property Value Report: September-October 2019 (Courtyard Series)

Braemar Property Value Report: September-October 2019 (Courtyard Series)

The holidays are approaching and we’ll be ringing in 2020 before we know it.  Predicting what will happen in our future real estate market involves an examination of what has happened in the more recent past.  Today I am here, yet again, to do exactly that with another Braemar Property Value Report.  This edition features sales of Braemar Courtyard homes during the months of September and October.  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.

There was only one sale of a Braemar Courtyard home during this two month reporting period...not at all unusual being that Courtyard homes make up such a small percentage of the homes in Braemar.  The details of that sale are listed below.

Even though there was only one sale during our current reporting period, when combined with the entire last twelve months of Braemar Courtyard home sales, the updated six and twelve month value points are where we determine market trends.  Here are our updated average and median values.

Looking first at the sold price column, we see that both the six month average and six month median sold prices are both above their respective twelve month sold prices.  This means that the most recent sales still have Braemar Courtyard homes pushing up in value.

When it comes to seller subsidy (closing cost help to buyers,) what we find is that buyers in the more recent sales (last six months) are getting more in closing cost help than when we average out the entire twelve months of sales.  The only thing encouraging here is that the sale from this current reporting period gave nothing in closing cost help.  Hopefully that is a situation that repeats in upcoming Courtyard homes sales, reversing the increase in seller subsidy trend we are seeing here.

Finally, days on market shows stability in the six month median marketing time to the twelve month median marketing time.  Better news is that the six month average marketing time is less than twelve month average marketing time.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect to be under contract within one to three weeks.  You could also expect to pay bout 2% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in January.  Until then, I wish you every happiness this holiday season.  And always, if the need arises for you to sell your Braemar home, don’t hesitate to give me a call.  No matter the season, I am here to get you the most money from the sale of your home.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

 

 

Braemar Property Value Report: September-October 2019 (Carriage Series)

Braemar Property Value Report: September-October 2019 (Carriage Series)

There is something so beautiful about the the fall and winter sun. The sunbeams streaming through my windows in the morning this time of year seem so much more substantial. That is all due to the sun hanging lower on the horizon.   Of course, the low position of the sun in the sky can be very dangerous for those heading west in their afternoon commutes.  Where there is a plus, there is a minus.  It’s the same in real estate, which is ultimately what I’m here to talk to you about.

This is the Braemar Property Value Report for Carriage homes in our neighborhood.  In this particular edition we get a chance to see what happened in September and October and how that is shaping the over all Carriage home real estate market trends  If you don’t know what homes fall in the Carriages Series, 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.

In our current reporting period, there were six Braemar Carriage homes that sold.  When you get a look at the details of those sales below, you will see a very tight grouping of sold prices.  Not unusual since all but one of these homes were three bedroom Norwood models.  Only one four bedroom Parkdale (the largest of the Carriage homes) is in this list.  Unfortunately, either its condition or the the location directly backing to the two power transmission lines did not even get its final sold price higher than the smaller Carriage homes that sold around the same time.

Combining all six of these sales with the rolling twelve months of past Carriage home sales our six and twelve month data points are updated.  This is where we get a sense of our trends.

Looking first to the sold price column, we see that both the six month average and median sold prices are higher than their twelve month respective values.  This means Braemar Carriage homes are continuing to push up in value.

Next we turn our attention to seller subsidy (a.k.a. closing cost help to buyers.) Here we see another seller favored trend.  The seller subsidy in the more recent values, six month average and median, are less than the twelve month counterparts.  Buyers in the Braemar Carriage home market are facing more competition, which means they have to lean out their requests to get under contract with sellers.

Last, but not least, we get to days on market.  This is an important value because when you put your Braemar Carriage home on the market, you want to know how long it is going to take to sell.   Looking at the six month average and median marketing times we see that they are both shorter than their respective twelve month data marketing times.  Braemar Carriage homes are selling faster!  Even my most recent listing of 13236 Daldownie Court , listing in November, received two offers in two days!

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

The next Braemar Property Value Report will be out in January.  Until then, I wish you every happiness this holiday season.  As always, if the need arises to sell your Braemar home, no matter the season, give me a call for the absolute best results.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com