Braemar Property Value Report: May-June 2011 (Courtyard Series)

A rollercoaster ride in Braemar would be fun, but not when it comes to home values.  Unfortunately, that’s the ride that Braemar Courtyard home owners have been on since our market values declined.  And with May and June behind us, it gives us a chance to see if the Braemar Courtyard Home values have gone up or down since last report. 

Before we go any further, a Braemar Courtyard home is a one of three different models that share a private courtyard driveway and have very small yards.  Models include the Arlington, Ballston and Clarendon.

Having seen the prior two reports recording only one Braemar Courtyard home sale, it is nice to see three resales this report.  And oddly enough, we have one of each model represented in those resales.  The average of their three sale prices gives a new average market value for Braemar Courtyard homes of $320,333.  That’s a 5% increase since last report (March-April 2011.)  Unfortunately there is no year to year comparison as there were no resales of Braemar Courtyard homes this time last year.  And that’s not unusual for Braemar Courtyard homes.  They are a very small percentage of the overall Braemar neighborhood and attract a very specific buyer that can sometimes be hard to find.

If you placed your Braemar Courtyard home on the market, priced to current market conditions, you could expect to have it under contract in a little more than a month.  You could also expect a Buyer to aks for an average of nearly 2% of the sales price in closing cost assistance.

If you are looking to BUY, there is still a great deal in Braemar Courtyard homes in this listing off of Pentland Hills. It’s a Ballston model in great shape and a healthy sale.  It’s price has been reduced to $327,500!  It has three bedrooms, three and a half bathrooms, a nicely updated kitchen and a double decker composite deck…just to mention a few items.  You can see the listing for that Braemar Courtyard home by clicking this link.

The next Braemar Property Value Report will be out in September and will detail Braemar Courtyard home sales from July and August.  Until then, if you are thinking of placing your Braemar Courtyard home on the market, I am happy to consult with you regarding your home’s specific value.  As a full-time Bristow real esate agent since 2005 and a Short Sale Specialist since 2007, I can help you get top dollar for your Braemar home no matter your equity position.  And remember, no one knows Braemar better!

Chris Ann Cleland, Associate Broker-Licensed in Virginia, Long & Foster REALTORS®

703-402-0037, www.NVARealEstate.net, www.SpeakingofHomes.net

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Other Braemar Property Value Reports for the time period of May-June 2011:

Arista Series (large single family homes built by Brookfield Homes)

Carriage Series (smaller single family homes with detached garages, built by Brookfield Homes)

Heritage Series (mid-sized single family homes built by Brookfield Homes)

Townhouse Report (townhouses separated into garage and no garage categories) 

Condo Quarterly (condos known as Barrhill at Inverness Village)