Braemar Property Value Report: January-February 2013 (Carriages Series)
It may not be the official beginning of Spring, but whenever we jump ahead an hour, I consider that the beginning of Spring. There’s something about that extra hour of daylight that is so rejuvenating to my spirit. I’m sure it won’t be long now before the lawns are greening up, the trees are budding and the flowers are blooming in Braemar.
Now that we have the first two months of the year behind us, we can do our bi-monthly review of the Braemar Carriage home market. Carriage homes are characterized by the lack of attached garage. Rather, it has a detached garage, if it has one at all Not all Carriage home buyers opted for the garage and instead, have a paved parking area in the rear of their home. The models, from smallest to largest, include the Maplewood, Norwood, Oakdale and Parkdale.
There was only one Braemar Carriage home that sold in all of January and February. It was a Parkdale model with three bedrooms and three and a half bathrooms and a finished basement. It listed for $325,000 and sold for $301,000. Since this was the only sale, it becomes our new average market value for Braemar Carriage homes. However, when there is only one sale in a marketing period, the average value can be tremendously skewed. I suspect that is the case. While we see a decrease in value over over 12.5% since last report and a decrease of 9% since last year, I suspect that values are stable to increasing, based on what I see happening daily in Breamar and the surrounding Bristow-Gainesville real estate market.
If you placed your Braemar Carriage home on the market, priced to current market conditions, this report indicates that you could expect it to be under contract in a little over a month. The reality is really that demand is so strong in our neighborhood that the next report that takes multiple Carriage homes sales into account, will likely show a much smaller marketing period. This report also indicates you could expect a buyer to ask for about 2% of the sales price in closing cost help.
The next Braemar Property Value Report will be out in May and will detail sales from March and April. Until then, if you are thinking of selling your Braemar Carriage home, give me a call for a free market analysis of your specific home’s value. I’ve been a Braemar resident and full-time Bristow Real Estate Agent since 2005. I added the distinction of being a Short Sale Agent in 2007. No matter what your equity position, I can get your Braemar home sold for the maximum amount of money in the shortest period of time. And most importantly…No one knows Braemar better!
Chris Ann Cleland, Associate Broker-Licensed in VA, Long & Foster REALTORS®
Statistics compiled by Chris Ann Cleland, using the MRIS (Metropolitan Regional Information Systems.)