Braemar Property Value Report: January-February 2017 (Courtyard Series)

Braemar Property Value Report:  January-February 2017 (Courtyard Series)

Cloudy days can be the best days for a busy Bristow Real Estate Agent like myself to get paperwork done… and market reports.  Today I’m working on my Braemar Property Value Reports.  This one focuses on sales activity for Courtyard Series homes.  Courtyard homes are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Clarendon and Ballston.

There were two Braemar Courtyared home sales between January and February.  The lowest sales price was $399,900.  The highest sales price was $415,000. They were both Ballston models.  One seller gave $3,000 in closing cost help, the other gave $10,000.  Both of these sale prices are above the six month and twelve month median and average prices.

Even comparing the six month average and median sales prices to the twelve month numbers, we see very little change in the average sales price, but the median (or middle) sales price has gone up over $4,000 from the twelve month sales price to the six month sales price.  Closing cost assistance numbers also went down in the six month time frame compared to the larger twelve month time frame.  More good news.  Unfortunately, the six month marketing time figures are longer than the twelve month figures. That’s an indicator that it may be taking longer to sell a Braemar Courtyard home.  Though you should take heart that one of the sales from our recent reporting period only took thirty-one days, less most of the figures in our rolling six and twelve month figures.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect your home to be under contract in about a month and a half.  You could also expect to pay $4,000-$5,000 in closing cost help.

The next Braemar Property Value Report will be out in May and will bring in numbers from sales in March and April.  Until then, when you are ready to figure out if now is the time for you to sell, give me a call.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland

 Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

Braemar Property Value Report: January-February 2017 (Carriage Series)

Braemar Property Value Report:  January-February 2017 (Carriage Series)

A rainy day in Bristow is a great time to sit down in front of my computer and tell
you all about the Braemar real estate market.
 It is Braemar Property Value Report time, after all.  And in this report, we are going to focus on sales in the first two months of the year in the Carriage Series.  Braemar Carriage homes 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.

The last report, which covered the last two months of 2016, displayed a rare occurrence where absolutely no Braemar Carriage homes sold.  This reporting period we had one sale.  It was a five bedroom Parkdale model with three finished levels that listed and sold for $424,500.  It was under contract in only eight days and the sellers gave $4,000 in closing cost help.  So how does that compare with what’s been happening in the Braemar Carriage home market?  Well, the sales price of $424,500 is higher than all six month and twelve month average and median prices.

Just comparing the six month average and median sales prices with the twelve month average and median prices, we see that values for Braemar Carriage homes are trending up.  That’s a very good thing.  At the same time, the six month numbers for closing cost assistance are lower than the twelve month numbers.  Another good indicator.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in seven to twenty-two days time.  Probably on the lower side if we continue to have this shortage of homes for sale and high buyer demand.  You could also expect that a buyer will request some closing cost help.  In the ball park of $4,000 seems to be the most likely case.

The next Braemar Property Value Report will be out in May and will cover the months of March and April.  In the meantime, when you are ready for a more specific analysis of your home’s worth in the market, give me a call.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland

 Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

Braemar Property Value Report: January-February 2017 (Arista Series)

Braemar Property Value Report:  January-February 2017 (Arista Series)

Spring is in the air in Bristow.  As I drive down our suburban streets of Braemar I’m seeing daffodils and hyacinths blooming and our trees are finally sprouting their buds.  While winter didn’t give us much of a show this past season, I know we all get excited when warmer weather approaches and our days are gaining sunlight.  The warm weather and sunlight has been tempting me away from my Braemar Property Value Reports.  It’s easy to start them on a cold dreary day.  Harder to get them done when spring awaits just out the front door.

This particular report will focus on home sales in the Arista Series.  Arista Series homes are the large, single family homes built by Brookfield Homes.  The floor plans are:  Allister, Buckingham and Canterbury.

The beginning of 2017 definitely got off to a better start in the Braemar real estate market, than the previous year saw as it neared its end.   When we last left the Braemar Property Value Report for Arista Series homes, we saw only one sale at $510,000.  Well, we only have one to report between January and February, but it listed and sold for $555,000.  And instead of making that a marker of value in and of itself, we’re going to look back to six and twelve month average and median markers.

The average sales price for the last six months is virtually the same to the twelve month average.  The median sales price for the last six months, however, has dropped a tad from the median we saw over the twelve month period.  That drop wasn’t monumental.  What I see is stability in pricing.  Market demand of late will likely bring values up.

If you put your Arista Series home on the market, priced to current conditions, you could reasonably expect it to be under contract in 41-56 days time, which are the median and average marketing times found in our rolling six month data.  You could also expect a buyer to request closing cost help.  The average closing cost assistance was $7,714, but I have found the median numbers to be more reliable here.  That would mean closing cost assistance of $10,000.

The next Braemar Property Value Report will be out in May and will give us more recent information as we pull in March and April’s data into our rolling averages.  Until then, when you are ready to sell your Braemar home, give me a call.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland

 Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

How Long Should it Take to Sell a Braemar Home?

How Long Should it Take to Sell a Braemar Home?

This is an example of light staging in a vacant home.

Because I am known as  a Braemar Listing Agent, other agents in the market place will contact me when they have a buyer with a specific need.  Right now (late March 2017) there is so much buyer demand for Braemar single family homes that there is no chance a home that is priced right, shows well, and has an outstanding marketing agent should linger on the market longer than one month.  Shoot, at this point two weeks feels like an eternity.

Of course, starting with the right agent helps you avoid over pricing.  It also gets you very direct advice about showing well.  And as for me, my photos don’t even hit the MLS until they have been reviewed and edited to show your home in the best light.  Photos are done at eye level, not from the ceiling or close to the ground.  Unless you have a one foot tall buyer or one that is filled with helium, they need to see what your home looks like from a reasonable eye level.  That gets tricky in a bathroom when it comes to avoiding mirrors, but that’s when I kick into “crouching agent, hidden camera mode.”

I was the second listing agent on this home in Braemar in 2015. The first agent’s photos were a disaster.

When I list a Braemar home, I take many pictures of the same room. Taking them with different exposures, different lighting settings in the home gives me more choices when I’m going through them and looking for the best shot.  And if your home is vacant, I bring in light staging items like greenery, towels, dishes, artworks, etc to warm up the place.  It also helps add some depth to photos of a vacant home.  And nothing is as important as the opening photo.  If it’s a crappy day when I first take photos, I come back until I get a great shot.

And of course, the exterior picture is taken to make your home look fantastic.

Between my marketing and a reasonable list price, my listings sell quickly.  There’s no multiple months on the market.

If you’ve been on the market for longer than a month or two, it might be time to hire someone to get the job done.  Wasted time equal wasted impressions on all those buyers waiting to jump on a single family home in Braemar.   The highest price doesn’t come with more time on the market.  The highest price comes from getting the most buyers to want your home.  That happens quickly.  So when you’re ready to sell your Braemar home, call me.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland

 Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

Braemar Parkdale Carriage Home Sold in One Day!

Braemar Parkdale Carriage Home Sold in One Day!

On Valentines’ Day 2017 I listed 9758 Tombreck Court, a Parkdale with four bedrooms, three and a half bathrooms at the end of a cul-de-sac.  The Seller and I had discussed pricing the home and landed on $420,000.  It was a tad higher than the recent comparable sales, but since there was a shortage of available houses for sale, we decided to go for it.

To prep the home, the seller had it painted inside and out, new carpet installed and the siding power washed.  And because it was vacant, I did a little bit of light staging to warm it up and make it feel homey.  It didn’t have a lot of upgrades, but it had three finished levels in good shape, a detached garage and most importantly, that cul-de-sac lot.

The first day on the market, we had four offers.  So on February 15th, we reviewed what we had.  Two of the offers had home sale contingencies.  One of those buyers was under contract, the other hadn’t even put their home on the market.  The choice to the Another, without a home sale, really didn’t offer a competitive price.  The Seller, who wished to avoid any additional risk with the home sale, chose to go with the fourth offer that didn’t have anything but home inspection, radon inspection, appraisal and financing contingencies.  Those four are standard contingencies in our Braemar marketplace.

It was smooth sailing through the inspections and, because I was able to communicate the demand in the neighborhood and provide a list of updates down prior to listing to the appraiser (along with comps of course,) there wasn’t an apprasial issue either.

This four bedroom Parkdale model Carriage home sold for $425,000 on March 15th (2017.) 

When you are ready to sell your Braemar home, call me.  No One Knows Braemar Better!

Chris Ann Cleland

 Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com