Yet Another Braemar Townhouse SOLD

Yet Another Braemar Townhouse SOLD

Earlier this year, I sold 9619 Innerwick Place in Braemar.  It was a nice surprise when the neighbor at 9617 Innerwick Place called me to list her townhouse shortly before her end unit neighbor closed.  While I took the listing in early February, it didn’t hit the market until May.  The seller took the listing preparation notes that I had given her and got to work to get the maximum dollar amount for her home.  A quick discussion about selling “as-is” made her realize the work to ready the home was worth the money she would make.

On May 13th, this interior unit townhouse hit the market priced at $375,000.  It only took three days before multiple offers were there for the seller to review.  The one that she ratified went to settlement on June 29th.  It was a full price sale at $375,000 and the seller didn’t have to give any closing cost help.

Right now, despite the pandemic, the Bristow real estate market is hot.  Sellers are in control as there is more buyer demand than there are homes to sell them, particularly in properties that attract first time buyers.  If you have a Braemar townhouse you want to sell, give me a call to find out how I can get you top dollar while marketing your home with safety as a top priority.  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

Another Late June Day, Another Braemar Home Sold

Another Late June Day, Another Braemar Home Sold

Yesterday I wrote about the Braemar home I sold at 9658 Granary Place Today, I’m here to tell you about the Braemar home I sold at 9725 Kinloss Mews.  While 9725 Kinloss Mews listed before 9658 Granary Place, as one of the largest homes in the neighborhood, I expected it would take about two weeks for it to go under contract.  It hit the market on May 15th (2020) priced at $610,000.  Sure enough, fourteen days later, it was under contract.

While the initial offer left a lot to be desired, the sellers decided that rather than reduce their price to catch another buyer, they would make a counter offer to the buyers who had taken the time to express interest.  The buyers accepted.

While the pandemic didn’t really affect our real estate market, it has impacted some supporting industries.  HVAC repair and service is one of them.  At least, that’s what Beltway Air Comfort Service would have us believe.  They failed three times to get the right parts over the course of weeks and, the day before settlement took five and a half hours to get the parts installed.  Didn’t even give my sellers a receipt.  When Mrs. Seller called to get a copy, she was told off by the owner of Beltway Air Comfort Service.  The owner was mad that he had to eat a 3% charge normally charged to customers paying by credit card (nothing I’ve heard of from the HVAC companies I recommend) because it wasn’t disclosed before my seller left town with her checkbook.  She was going to mail a check, but THEY made the choice to eat the charge.  They did the right thing and then blew all the good will by telling her off.  Then they went on to tell her they would de-prioritize her anytime she called for future service.  Who does that?  Once again, Beltway Air Comfort Service.  Note it and call any other company to service your HVAC if you want decent, professional service that knows how to treat their customers.

Thank goodness that even crappy contractors can get the job done, and despite taking a long time, it was done before the buyers signed for the home on June 26th.  Whew!

The final sold price of this Canterbury was $600,000.

If you are considering the sale of your Braemar home, we are experiencing high buyer demand and very low inventory.  That means we are in a seller’s market.  Give me a call for a free market analysis and my professional marketing plan that will get you top dollar and do it safely.  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 Single Family Home Sold Above List Price

Braemar Single Family Home Sold Above List Price

In the early days of the COVID quarantine, I met with the sellers of 9658 Granary Place They had purchased another home and were in a position to sell, regardless of the pandemic.  We looked at numbers and came to a number for a list price that was optimistic, but took into account the unfinished basement.  That list price was $485,000.

The sellers signed up with me the same day as our meeting.  That was April 2, 2020.  The home was vacant, lightly staged and professionally photographed by May 26th, when the listing became active on the market.  This was the first mid-sized single family home I had put on the market since the pandemic had hit our area.  I had been a bit nervous as to what kind of response it would get.  Larger homes were still taking a bit longer to sell.  Not this one.  The market response was overwhelming.  It felt like I had started a feeding frenzy in shark infested waters.

Within the span of three days, we had received five offers, and there were still interested buyers ready to throw their offers on the pile.  What they didn’t know, but I did, was the pile was amounting to a steep number thanks to the escalation clauses.  When we hit a pie in the sky number, the listing was pulled temporarily off the market to put a halt to the madness.  The sellers had decided they had enough offers to make a decision.

When the pie in the sky offer ($525,000) withdrew after cold feet and a good talking to from their dad who was providing the down payment, it was really down to two offers.  One that escalated to $503,500 and another that escalated to $502,000.  Neither had asked for closing cost help.  Numbers alone would have you pick the first one.  But what you need to know is the $502,000 did two smart things.  1) They had a home inspection with the right to void in a very quick time frame.  2) They offered a low appraisal guarantee of $7,000.  If the home didn’t appraise for $502,000, they would make up to $7K of difference.  That extra $1,500 sounded good, but didn’t come with any kind of assurance the buyers there would put money out of their own pocket if the home didn’t appraise at sales price.

The $502,000 offer was chosen and it was the smoothest rode to settlement I’ve had in Braemar yet this year.  No issues with termites, inspection, HOA or appraisal.  Today, 9658 Granary Court sold for $502,000, which was $17,000 above its list price.

To say there is limited inventory in our market is an understatement.  We may be living through unprecedented and scary times, but this is a seller’s market.  If you want top dollar for your Braemar home, call me and we can discuss marketing it safely while achieving that max profit for you.  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: March-April 2020

Braemar Townhouse Report: March-April 2020

Hard to believe that we are nearly in June.  Time flies, even when you are under a shelter-in-place order.  My goal is to always get my Braemar market reports out before the end of the odd numbered months.  There is no question I’m cutting that self-imposed deadline close by publishing this edition of the Braemar Townhouse Report on May 30th.

This particular Braemar Townhouse Report covers sales of traditional townhouses in Braemar during the months of March and April 2020.  For the purposes of this report, a traditional townhouse is one that is attached on the sides, is three levels and has a back yard.

During this current reporting period, there were fourteen Braemar townhouses that sold.  The details of these sales are listed below:

One of the first things you notice above is that the second sale listed is highlighted in pink. Whenever I personally list and sell a home, I highlight it for you to see that I do more than property reports.  I help a lot of Braemar home sellers.  In this particular sale, the sellers were on their second contract.  They had a higher price with no seller subsidy with their first buyer, but when you get someone who gives you exactly what you want, beware the home inspection.  It was over the top with requests.  So the sellers made an offer, but the buyer voided.   That left the sellers to go back to their back up offer.  Again, a higher offer than noted here, but appraisal had it coming it below the sales price offered.

Taking these fourteen Braemar townhouse sales and combining them with the entire past twelve months of sales, our six and twelve month data points are updated as seen below.

The sold price column looks great when you see that both the six month average and six month median sold prices are higher than their twelve month respective values.  This means Braemar townhouses are still gaining value.

In the seller subsidy column, we find more good news for Braemar townhouse owners that may be thinking of jumping into the market very soon.  Seller subsidy is also known as closing cost help to buyers.  Both the six month average and six month median values are below their respective twelve month values.  That means Braemar townhouses owners, on the whole, have been giving very little, if any, seller subsidy when entering contracts.

Finally, when it comes to days on market,  or marketing time as I like to call it, we see another great trend for Braemar townhouse sellers.  The six month average marketing time is 10 days shorter than the twelve month average marketing time.  The six month median marketing time (only 4 days) is 2 days shorter than the twelve month median marketing time.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in about a week.  You could also expect that you would give 1% of the sales price or less in seller subsidy.

The next Braemar Townhouse Report will be out in July.  Until then, know that our Braemar real estate market is as strong as ever.  Our buyer demand is not being met by the supply of homes, which means we are still experiencing seller market conditions.  If you want to sell, now is a great time to do it…pandemic and all.  Give me a call and I’ll be happy to talk with you about my marketing techniques and the new COVID showing precautions I’ve had my sellers put in place to remain safe while their home is on the market.  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: March-April 2020 (Ryan Homes)

Braemar Property Value Report: March-April 2020 (Ryan Homes)

Yikes!  The end of the month is only a couple days away and I’ve got two Braemar Property Value Reports left to share.  Today, let’s look at the Braemar Property Value Report that I put together for homes built by Ryan Homes in our neighborhood.

During our current reporting period, March and April 2020, there were three Ryan Homes that sold.  The details of those sales are listed below:

Taking these three sales and combining them with the entire past twelve months of Ryan Home sales in Braemar, our six and twelve month data points are updated as pictured below.

Starting first in the sold price column, we see that both the six month average and six month median sold prices are higher than their respective twelve month values.  This means Ryan Homes in Braemar are still gaining value.

Next up is the seller subsidy column.  Seller subsidy is also known as closing cost help that sellers give buyers.  While the six month average seller subsidy is ever so slightly less than the twelve month average seller subsidy, the six and twelve month median values are exactly the same.  Looks like this is a an area that isn’t changing.

When it comes to marketing time we see conflicting information.  The six month average marketing time is longer than the twelve month average marketing time.  In contradiction, the six month median marketing time is a bit shorter than the twelve month median marketing time.  Hmm.  We’ll have to wait and see where this trend goes, but for now we’ll call it stable.

If you placed Ryan Home on the market, priced to current conditions in Braemar, you could expect it to be under contract in as little as a week, or as long as a month.  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 July.  Until then, despite the pandemic, we are experiencing a very strong seller’s market.  If you want to take advantage of it, hiring the right real estate agent has never been more important.  My top notch marketing, combined with the COVID showing precautions I recommend to sellers, can get you top dollar and keep you safe at the same time.  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

 

Are Braemar Single Family Homes Even Selling During the Pandemic?

Are Braemar Single Family Homes Even Selling During the Pandemic?

The pandemic has definitely brought a lot of change and uncertainty to our lives.  You may wonder how it is affecting our Braemar real estate market.  Well, to answer that question, I am here to give you a tale of two Braemar homes.

On May 15th 9725 Kinloss Mews (pictured above) hit the market priced at $610,000.  The market didn’t immediately go nuts, but in this upper price range, I never expect it too.  However, the activity did build fairly quickly.  There were a total of 24 showings before they received an offer on May 27th.  The next day, they were under contract with mutually acceptable terms.  I expected two weeks to get under contract for this one and 13 days is right on target.

I didn’t even get a chance to tell you about 9658 Granary Place It hit the market as an active listing on May 26th priced at $485,000.  That price point for a single family home in Braemar was like throwing chum in shark infested waters.  It has two finished levels, an updated kitchen, bonus room in master suite and a blank slate to finish the walk up level basement.  It had 21 appointments in 2 days!!  Once we had 5 offers in hand, we flipped the listing to temporarily off the market to stop the insanity.  There are only so many buyers you need to disappoint when in a multiple offer situation.

Without a doubt, our Braemar real estate market is favoring sellers.  With the expansion of Micron in Manassas bringing thousands of jobs to our back yard, having the Federal government as our primary economic force and mortgage interest rates still at historic lows, there is no end in sight to these conditions.  If you want to sell your Braemar home, give me a call.  I’ll get you top dollar with my top notch marketing and keep you safe during showings with COVID precautions.  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: March-April 2020 (NV Homes)

Braemar Property Value Report: March-April 2020 (NV Homes)

When I am preparing Braemar Property Value Reports, normally I like to space out the reports to appear online every other day.  However, this month has been rockin’ and rollin’.  I’ve got a listing in Braemar that is getting a ton of traffic, one in New Bristow Village that is getting even more and a Braemar listing coming up that I am staging this weekend.  Add to that three listings under contract, one in Haymarket, a townhouse in Braemar and another in Gainesville and there is much to be done.  Meeting appraisers, negotiating home inspections, presenting offers….you get the picture.  So while I have time, I’m putting out another Braemar Property Value Report. This one focuses on the single family homes built by NV Homes in our neighborhood.

Typically, as with other large single family homes in our neighborhood like the Arista Series, there aren’t very many sales in any one reporting period.  In our current reporting period of March and April 2020, there were six NV Homes that sold.  Details of those sales are listed below.

Taking these six sales from the past two months and combining them with the ten months worth of NV Home sales we saw before this reporting period, we get an entire year of sales data.  Our updated six and twelve month data points are pictured below.

Starting with sold price we see that the six month average sold price is over $10,000 more than the twelve month average sold price.  Tempering that great news, we do find that the six month median sold price is $1,500 below the twelve month median sold price.  All in all, it looks like NV Homes in Braemar are continuing to gain value.

Next up is the seller subsidy column, or what is also known as closing cost assistance from seller to buyer.  Both the six month average and median values here are well below their respective twelve month values.  Even in the six sales that occurred in our current reporting period, only one-third of home sellers gave any closing cost help, and when they did, it was minimal.  Clearly, sellers are giving less in seller subsidy thanks to the very competitive market we are experiencing.

Finally, days on market…or as I like to call, marketing time.  Here we have mixed information, but with such slight variation it hardly worth much attention.  The six month average marketing time is two days longer than the twelve month average marketing time.  Meanwhile, the six month median marketing time is one day shorter than the twelve month median marketing time.  This about as stable as you can get.

If you placed your Braemar NV Home on the market, priced to current conditions, you could expect ti to be under contract in about two and a half weeks.  You could also expect to pay very little in closing cost help, if anything.

The next Braemar Property Value Report will be out in July.  Until then, the question I am getting asked a lot right now is, “How is the pandemic affecting our real estate market?”  If you couldn’t tell from this market report, it doesn’t seem to have affected our Braemar real estate market at all.  Buyer demand is still very strong, making this a seller’s market.  It’s no surprise when you consider the thousands of jobs being added by the Micron expansion in Manassas and the historically low mortgage interest rates.

If you want to take advantage of our current seller’s market conditions in Braemar, give me a call.  There are added measures I am taking to make sure you sell your home safely, while still getting top dollar in the market.  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: March-April 2020 (Heritage Series)

Braemar Property Value Report: March-April 2020 (Heritage Series)

What a gorgeous start to the Memorial Day Weekend.  Doesn’t get any better than blue skies, sun and warm temperatures to kick off a long weekend.  While my fellow Braemar home owners are likely getting stocked up on hamburgers and hot dogs for holiday cookouts, I’m going to share with you another Braemar Property Value Report.  This one focuses on sales of Heritage homes in our neighborhood.  Heritage 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 six Braemar Heritage homes that sold during the months of March and April.  The details of those sales are listed below:

Final sold prices ranged from $460,000 to $556,000.  You will notice that the $556,000 sale on Millbill is highlighted in pink.  It’s highlighted because I was the listing agent on that home.  While I am here like clockwork every other month bringing you property value reports, I also like to share that I do, in fact, list and sell homes in the neighborhood.  My sellers enjoy fantastic results.

Taking these six sales and combining them with the entire last twelve months of Heritage home sales, we get updated six and twelve month data points, as shown below:

Looking first at the sold price column, we see that both the six month average and six month median sold prices are higher than their respective twelve month values.  This means Braemar Heritage homes are still gaining value.

Seller subsidy (also known as closing cost assistance to buyer from seller) doesn’t show as clear a trend.  While the six month average seller subsidy is lower than the twelve month average, the six month median seller subsidy is higher than the twelve month median.  Still, looking at the highest number in this column, we see that seller subsidy is very modest in the current seller’s market.

Marketing time currently shows a trend in one direction.  Both the six month average and six month median marketing times are longer than the twelve month average and median marketing times.  This means it has taken a bit longer for Heritage homes to go under contract in the last six months.  Of course, looking at the most recent sales from March and April, it is likely the trend for marketing time will decrease next report.

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect it to be under contract in as little as a week, as long as a month.  You could also expect to pay less than half of 1% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in July.  Until then, the question I get asked most often right now is how the pandemic is affecting our real estate market.  Right now, it doesn’t seem to be affecting anything but HOW we list and tour houses.  Braemar is still experiencing a strong seller’s market thanks to historically low mortgage interest rates, the expansion of Micron in Manassas bringing thousands of jobs to our back yard and the Federal government being the largest economic force in our area.

If you have been considering the sale of your Braemar home, but have been hesitant because of the pandemic, let’s talk.  With my professional marketing and unparalleled knowledge of our market, we can list and sell your home safely and for top dollarSince 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: March-April 2020 (Courtyard Series)

Braemar Property Value Report: March-April 2020 (Courtyard Series)

Can you believe that Memorial Day Weekend is THIS weekend?  This shelter-in-place order for the pandemic has made it feel like time was standing still.  Obviously, nothing stops time.  And as it turns out, it takes more than a pandemic to stop our Braemar real estate market.

In today’s edition of the Braemar Property Value Report, the focus is on the recent activity in the Courtyard Series homes in Braemar.  If you aren’t sure what a Braemar Courtyard home is, they are the single family homes located on Orland Stone, Pentland Hills and Playfair.  Five homes share a courtyard driveway and have a strip of yard separating them from each other.  I often refer to them as city homes or executive style homes, as they require the most minimal lawn maintenance and have very contemporary floor plans named the Arlington, Ballston and Clarendon.  What they lack in lawn, they more than make up for in generous bedrooms sizes.

As is typical for our two month sales reporting periods, there was only one Braemar Courtyard home that sold during the months of March and April 2020.  Courtyard homes make up such a small portion of homes in Braemar, it is unusual to see many of them selling in any one reporting period.  The one Courtyard home that sold, is detailed below:

To be honest, I struggled with putting this Courtyard model home sale in this report.  It is an Arlington model, but unlike the Courtyard homes set up around one courtyard, this home was a builder model and located on a much larger lot and set up like a typical Braemar single family home.  It has a private driveway and doesn’t share a courtyard entrance like every other Courtyard home.  However, because the floor plan is the same as the Courtyards, I came to the conclusion it belonged here.  Of course, the higher than typical sold price reflects the difference in lot set up.

Taking this sale and combining it with all of the previous Courtyard home sales in the last twelve months, we see the six month average and median sold prices are higher than their twelve month counterparts.  That’s great news and is what I’m seeing across the Braemar real estate market.  Property values are still rising.

Seller subsidy (closing cost assistance from seller to buyer) is lower in both six month values compared to their twelve month counterparts.  This means that in the more recent sales, Braemar Courtyard home sellers, on average, have been giving less in closing cost help.

Finally, when it comes to marketing time, we see mixed information.  The six month average marketing time has shortened by more than half of the twelve month average.  Meanwhile the six month median marketing time has increased a bit compared to the twelve month marketing time.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in less than two weeks.  You would also expect to give 1% to 1.5% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in July.  Until then, the big question on most home owner’s minds is whether or not the pandemic is affecting our real estate market.  So far, it is not having a negative impact.  We are still experiencing a seller’s market thanks to very low mortgage interest rates, the expansion of Micron creating thousands of jobs in our back yard, and of course, our proximity to the Federal government that is always thriving.

If you find yourself wanting to sell your Braemar home, give me a call and we’ll discuss how to safely sell your home while still maximizing your sales price.  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: March-April 2020 (Carriage Series)

Braemar Property Value Report: March-April 2020 (Carriage Series)

Even though shelter-in-place is still in effect and our daily lives are off kilter from what they had been prior to the pandemic, the Braemar real estate market doesn’t seem to be feeling any ill effects.  Today we will look at what is happening with respect to Braemar Carriage home values in this edition of the Braemar Property Value Report.  Of course, if you don’t know what a Braemar Carriage home is, 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 two Braemar Carriage homes that sold during our current reporting period of March and April 2020.  The details of those sales are listed below:

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

Looking first at the sold price column, we see great news in the fact that both the six month average and six month median values are higher than their respective twelve month values.  This means Braemar Carriage homes are continuing to gain value.  And given the most recent sales of some of the smaller Braemar Carriage homes above, we see those are even higher!  I suspect Braemar Carriage homes will continue to increase in value in the near future.

When it comes to seller subsidy (closing cost help from sellers to buyers,) we see that those values have increased in the six month values compared to the twelve month values.  This means that Braemar Carriage home buyers have been asking for, and receiving more closing cost in the more recent past.  However, this trend may reverse based on what we see in the two most recent sales above.  One of those gave no closing cost help at all, the other only gave $5,000.  If that is something we see in future sales, seller subsidy will decrease in the shorter term.

Finally, looking at marketing time, we see very slight increases in both the six month average and median values over their twelve month counterparts.  One of our more recent sales detailed above shows a higher marketing time, however.  Will be interesting to see which way this trend goes in future reports.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in two to three weeks.  You could also expect to pay about 1.5% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in July.  Until then, know that real estate is considered an essential business in our state.  If the need arises to sell your home during the pandemic, I can help you sell your home safely and 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