Another Braemar Single Family Home Gets a Contract in Time for Christmas
There is something very magical about getting buyers and sellers together in the week leading up to Christmas. Buyers are still out house hunting and on December 17th (2015) this Braemar Short Sale at 9535 Laurencekirk Place received an offer. On December 20th, the offer became a ratified contract when buyers and sellers agreed to terms.
The home had been listed for sale since October 3rd (2015.) It started at a list price of $525,000. The price was reduced to $499,000 to reflect falling market value and existing issues with the condition of the home on October 23rd, and again to $480,000 on November 9th. Those condition issues were that the home needed new carpet on two levels and in the study, and fresh paint throughout. There were also some repairs needs to a leak in the master bathroom and a new dishwasher needed in the kitchen.
Knowing Short Sales the way I do, I know that a bank doesn’t tend to look at these types of repairs as being as expensive as buyers tend to see them. And banks certainly don’t want to make huge adjustments to the sales price on a Short Sale because even at market value, they are losing money they are owed. So I advised the sellers to wait at $480,000. I am glad they did.
It will take a few months to get the settlement table on this one, since there are two banks that will need to approve the sale. Until then, if you are thinking of selling your Braemar home, give me a call for a free market analysis. No One Knows Braemar Better!
Chris Ann Cleland, Associate Broker-Licensed in VA
Long & Foster REALTORS®, Manassas VA