Braemar Reflection Quarterly: January-March 2018 (1st Quarter)

Braemar Reflection Quarterly: January-March 2018 (1st Quarter)

It’s a good feeling of accomplishment to be typing up the last of my Braemar Quarterly market reports before we are more than a third of the way through the second quarter.  This last report for the first quarter of 2018 is focused on sales of the Reflection Series homes in Braemar.  These homes are located on Tarvie Circle and are single family properties attached to another home at the rear load garage only.

In the first three months of the year, there was only one Braemar Reflection home that sold.  The details are listed below.

Being a four finished level home, selling at $465,000, this sale is probably the highest I’ve seen on Tarvie Circle in a long time.  When we take this sale and combine it with the other Reflection home sales from the second, third and fourth quarters last year, we have a full year’s worth of data.  Parsing that data into six and twelve month values gives us a very good feel for what’s happening with Braemar Reflection home values.

The six month average and median sold prices are the same as the twelve month average and median sold prices.  That’s partially because we only had three sales for the entire year’s worth of data and two for the six month figures.  The differences are noticed in the increase in average and median seller subsidy in the short-term, compared to the longer term.  And in the longer marketing time in the short-term.

If you placed your Braemar Reflection home on the market, priced to current conditions, you could expect it to be under contract in about six months.  Honestly, given our lack of inventory compared to increased buyer demand so far this year, it would likely be faster.  You could also expect to pay about 1.5% of the sales price in seller subsidy (closing cost assistance.)

The next Braemar Reflection Quarterly will be out in July .  Until then, if you want to know how much your specific home is worth in today’s Braemar marketplace, give me a call.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

 

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Braemar Piggyback Quarterly: January-March 2018 (1st Quarter)

Braemar Piggyback Quarterly: January-March 2018 (1st Quarter)

It is time for another Braemar Piggyback Quarterly market report.  In this report, we’ll look back at what happened in the first quarter of 2018 with regard to Braemar Piggyback townhouses.  We’ll also see how values are doing in the last six months and the last year.

If you aren’t familiar with what exactly a Braemar Piggyback townhouse is, allow me to explain.   These townhouses are not only attached on the sides, but along the back too.  They have no back yards, like traditional townhouses, but also have larger bedrooms than a traditional townhouse.  They also have two car garages.

Unfortunately, there were no Piggyback townhouses in Braemar that sold in the first three months of the year.  However, that doesn’t mean we don’t updated data points to investigate. When we drop the first quarter of 2017 from our collection of Braemar Piggyback sales, our six and twelve month average and median values freshen up to look like this:

Generally, I don’t like seeing six month average and median values falling below the twelve month average and median values.  It is an indication that values could be falling.  However, since there weren’t any new sales to throw into this mix from the first quarter of 2018, we’ll have to wait and see what the second quarter brings us.  After all, the majority of Braemar real estate is on the rise, given the lack of inventory and continued, strong buyer demand.

If you did place your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to be under contract in about three weeks time.  You could also expect to pay $4,000 to $5,000 in seller subsidy (closing cost assistance.)

The next Braemar Piggyback Quarterly will be out in July and will cover activity from the second quarter.  Until then, if you want to get a more specific idea of your Braemar home’s value, give me a call.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

 

 

 

Braemar Patio Quarterly: January-March 2018 (1st Quarter)

Braemar Patio Quarterly: January-March 2018 (1st Quarter)

It is time for another Braemar Patio Quarterly, which I know is going to make one of my family members very happy.  She happens to own a Braemar Patio home and has been waiting for the latest scoop,  With any luck, she is not the only one who will find this market breakdown of the first quarter sales of Braemar Patio homes useful.

If you don’t know what a Braemar Patio home is, they are often referred to as the quads in our community.  Each unit is two levels and is attached on the back and side to its neighbor.

There were two Braemar Patio homes that sold in the first three months of 2018.  The details of those sales are below:

Maybe you will notice the change added to the details of each Patio home sale.  One of the things that makes some patio homes different from others is the fact that one floor plan in particular offers a main level bedroom.  You will see that both Patio homes sold in the first quarter have those floor plans as they are marked affirmatively for having a “Main Level BR.”  Final sold prices were $325,000 and $340,000.

When we take these sales and add them in with the Braemar Patio homes sold in the second, third and fourth quarters of 2017 we get an entire year’s supply of data.  When we parse that data out into six month and twelve month markers, here is what we find:

The six month average and median sold prices are ever so slightly higher than the twelve month average and median sold prices.  Any movement forward in the short-term is a good thing.  Meanwhile, the seller subsidy (closing cost help to buyers) is heading down.  Marketing time has stayed about the same.

If you placed your Braemar Patio home on the market, priced to current conditions, you could expect it to be under contract in about a week.  You could also expect to pay about $3,000 in closing cost help, but you may get a motivated enough buyer to not have to pay any.

The next Braemar Patio Quarterly will be out in July.  Until then, when you want to know how the most recent sales are affecting your Braemar home’s value, give me a call.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

 

Just Sold: Two Finished Level Parkdale for $419,000

Just Sold: Two Finished Level Parkdale for $419,000

It has only happened twice so far in my real estate career that I have sold the same home twice, with two totally different sellers.  In October 2013 I sold 13802 Tartan Hills Parkway for $378,000.  At the time the home had two finished levels, was in need of new carpet and had basic finishes, no outdoor living space outside of the covered front porch and no exit in the finished basement.

Imagine my surprise when the new owners who purchased in 2013, called me to list 13802 Tartan Hills Parkway again.  Now, if I ran comparables like other agents, I may have come across the last Parkdale model with an unfinished basement with no exit and fairly basic condition (minus the hardwood flooring on the main level) that sold on Tombreck Court in September 2017 for just over $370,000 and declared that my sellers at Tartan Hills should list only slightly above that.  Thankfully, I don’t run comps that way.  Shoot, why would the home be worth about the same as it sold for in 2013?

When I first met the 2018 sellers of 13802 Tartan Hills, my comps told me that if they carpeted the home, painted and did some minor repairs, we could pull a lot more.  They had added a deck and put granite counters in the kitchen, and had a new roof installed after taking on storm damage since I last listed it in 2013.  But since the sellers didn’t have the funds for carpet throughout and a whole house paint job, we priced at $439,000 when we hit the market on February 21st.  When the market didn’t respond, the sellers reduced to $429,000.  Then again to $419,000.  That was the price where a buyer stepped and made a deal.

This four bedroom Parkdale on Tartan Hills, very much like that Tombreck Court that closed in September 2017, closed for $419,000.  Sure my sellers gave closing cost help to the tune of $12,000, making their net sold price $407,000, but it is a lot more than a bit over $370,000.  And I can tell you right now, the market hasn’t increased ten percent in six or seven months.

Hiring the right agent to list your Braemar carriage home can make all the difference to our bottom line.  And it starts with knowing how to analyze the market.  I won’t leave a penny on the table when it comes to representing my sellers.  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®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

Braemar Condo Quarterly: January-March 2018 (1st Quarter)

Braemar Condo Quarterly: January-March 2018 (1st Quarter)

It finally feels like spring in Braemar.  Yesterday, as I drove out of the community, seeing the trees fill in and the grass greening up rejuvenated my winter weary soul.  In speaking with some perennial flower lovers, I have heard some grumbling that the overnight temps are still too cold to plant, but we are getting there.

Right now, it is time for the Braemar Condo Quarterly.  This report looks back on the first quarter of 2018.  Let’s first take a look at the condos that sold between January and March.

As you can see, there were four Braemar condos that sold in the first quarter.  Each one had a garage and were two bedroom models.  Their sold prices ranged from $231,000 to $265,000.  It’s nice to see that the highest sold price of $265,000 was one that was occurred twice.  None of these condos took more than thirteen days to go under contract.  and the most any of them paid in seller subsidy (closing cost help to the buyer) was $4,500.

When we take these four sales and combine them with the second, third and fourth quarter condo sales, we have the chance to get a good look at the last year’s sales activity for Braemar condos in the shorter term and longer term.

The six month average and median sold prices are both higher than their respective counterparts in the twelve month sold prices.  That means Braemar condos are seeing increase in value.  Meanwhile, there is no real movement up or down in the amount of closing cost help Braemar condo owners are giving in the short term compared to the longer term.  It is great to see that the average marketing time in the last six months has shaved off more than half the amount of time it took to sell a Braemar condo compared to the twelve month average marketing time.

If you placed your Braemar condo on the market, priced to current conditions, you could expect it to be under contract in less than a week, at most two weeks.  You could also expect to pay about $4,000 to $4,5000 in closing cost help.

The next Braemar Condo Quarterly will be out in July.  Until then, if you want to know how our current market conditions have affected your Braemar condo’s value, give me a call.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

Who Can You Call to Repair Your Braemar Mailbox?

Who Can You Call to Repair Your Braemar Mailbox?

If I had been less frazzled after our wind storm on March 2nd (2018,) I probably would have thought to snap a couple photos of the Cleland Family mailbox damage.  Those photos would have started in the woods beside our home where the metal mailbox had landed.  Of course, when my husband first spotted it along the wood line, it was not the only metal mailbox that had been caught by that wood line.

The wooden support below the box, and newspaper slot below that, had started to rot over time.   And the mailbox had become disconnected, thanks in part to kids in the cul-de-sac who liked to smack it when they rode past on their bikes.  We had discovered the one side being loose when getting the mail, but since it was attached on the other side and didn’t seem to be under assault anymore, fixing it wasn’t a high priority.  Then the wind storm got up underneath there and took it for a ride.

The immediate fix was a bungee cord strapped around the box and connecting to itself under the newspaper box.  That hack would have made an interesting photo.  Once that repair was made, a call to Garrett Dismore at Mailbox Makeovers was not far behind.  They had repaired our mailbox a few years before when we had some wood rot issue.  Hey, two repairs in thirteen years isn’t bad.

When reaching to out for the second repair, I was delighted that Mailbox Makeovers was willing to give us a discount for being repeat customers.  Isn’t that thoughtful?  And within five days of that call, they were out on a Sunday afternoon putting our Humpty Dumpty like mailbox back together again.  They replaced the rotten wood and attached a brand new metal top.  Even had a sticker inside the metal box with their number to call if it needed repair again.

Unfortunately, I didn’t get a chance to chat with them during the repair, but I had made arrangements for their payment and they had their marching orders.  When I got home I saw a mailbox that looked even better than the condition the builder had delivered it.  And Mailbox Makeovers had even carefully placed my bungee chord on my front porch.

If you need your Braemar mailbox repaired, and either don’t have the time or talent to do the work yourself, I can not say enough about Mailbox Makeovers.  The prices are reasonable and the work is quality.  And even better, they are Braemar residents and know the HOA stipulations for our mailboxes.  When they repair it, it won’t end up in a covenants violation.

Call Mailbox Makeovers at 703-348-7701 or email them at dismore@hotmail.com and schedule your Braemar mailbox repair.  

And as always, if you find yourself in the position to buy or sell a home in Braemar, that’s my area of expertise.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

And Another Braemar Carriage Home Goes Under Contract

And Another Braemar Carriage Home Goes Under Contract

On March 10th (2018,) I had the pleasure of listing one of the most updated Parkdale model Carriage homes in Braemar that I have ever seen at 10143 Broadsword Drive.  We hit the market at $475,000, but after plenty of showings and no offers, my sellers decided to lower their price to $465,000.  What we were finding in feedback is that buyers looking at this home were also looking at larger single family homes with attached garages and finding that this Parkdale, while lovely, was not worth the price differential compared to the larger homes in the same price range.

The price improvement to $465,000 made a big difference.  We got even more traffic and within a week of the adjustment, my sellers had an offer.

We can’t tell you what the offer is, but will gladly tell you the details when it closes on May 31st.  Until then, when you are ready to list your Braemar Carriage home, give me a call.  It pays to hire a local agent that knows why this neighborhood is in demand and prices  your home accordingly.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com