Highest Sold Price for a Parkdale Model Carriage Home Since 2007

Highest Sold Price for a Parkdale Model Carriage Home Since 2007

In early March, I had the pleasure of listing 10143 Broadsword Drive.  It was the thirteenth Parkdale I had listed in my career, the ninth located in our neighborhood of Braemar.  While I have seen a lot of well appointed Parkdales with granite counters, hardwood floors throughout, I had never seen one with a stacked stone fireplace.  Gorgeous!

Braemar has been experiencing a seller’s market, which means there aren’t enough homes to meet buyer demand.  These are the times when sellers can push higher than recent comps to set a new high.  However, my concerns were 1) this home backed to the power transmission lines which usually means an immediate reduction of value and 2) that all of the systems to the home were original.  Homes built around 2005 are likely to have new HVAC systems, and new roofs.  This one did not.  But what it did have in interior updates, this Top Braemar Listing Agent showcased to the fullest of my abilities.

While initially priced at $475,0000, a price reduction to $465,000 after nearly two weeks on the market was the right move.  Most of the feedback indicated this home was priced too high.  Meanwhile other Parkdales, none with power line adjacent lots and with newer systems, were still listed for less.  Would buyers see the privacy the power line lot offered?  Would they love the interior updates enough to forego new systems?

When the sellers got an offer late night on Saturday, March 31st, this Braemar Real Estate Agent was there reviewing it with the sellers after holiday festivities on Easter Sunday and we have a counter offer to the buyers that evening.  On April 2nd, that offer was ratified.  Part of the counter was settlement happening on May 31st to accommodate the sellers.  Another part was selling for the list price of $465,000.

When a seller turns up the heat at the offer negotiations, buyers turn up the heat come home inspection negotiations.  I’ve seen it time and again and it was no different with this sale.  It was really the appraisal that had the sellers and I concerned.  Getting a price you want for your home is one thing. Getting it to appraise is another.

One of my skills, as a top Braemar Listing Agent, is getting my listings to appraise.  The key is hand selecting comps and showing the appraiser why you picked them.  Understanding what comps meet the criteria for your subject is critical.  While I have an outstanding record of appraisal success (having only had one issue unresolved since 2010 when I got my broker’s license) even I had sweaty palms over this one.  Like Mary Lou Retton nailing the perfect 10 in the 1984 Summer Olympics, I pulled the equivalent in getting this Parkdale to appraise.

Today, this Braemar Carriage home sold for $465,000.  That’s the highest sales price for a Parkdale since March 2007.  

If you want a chance to set the next record high sales price in Braemar when you sell, 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 Townhouse Report: March-April 2018

Braemar Townhouse Report: March-April 2018

Before embarking on any Saturday fun, which this Top Braemar Real Estate Agent intends to have today, I’m putting out this last Braemar real estate market report.  The Braemar Townhouse Report is always the last in the series of bi-monthly reports that I compile.

There were seven Braemar townhouses that sold during the months of March and April.  The details of those sales are below:

When take these seven sales and place them in the rolling pool of Braemar townhouse sales for the past year, we get updated six and twelve month data points that look like this:

Seeing that the six month average and median sold prices are both higher than the twelve month average and median sold prices means that Braemar townhouse values are still pushing up.  Meanwhile, seeing that the seller subsidy (closing cost assistance to buyers) in the six month values is lower than the seller subsidy in the twelve month values, shows that sellers, in this seller’s market, are able to negotiate deals with lower closing costs recently.  That means Braemar townhouse sellers are netting more money from their sales.  The marketing time, however, is the same in the median values in the short and long term, but the average marketing time in the last six months increased compared to that in the last twelve months.  Three days is not an increase to even concern yourself about.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in one to three weeks.  You could also expect to pay about one percent of the sales price in closing cost help.

The next Braemar Townhouse Report will be out in July.  Until then, when you want to know what our current market conditions mean to your specific townhouse 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 Property Value Report: March-April 2018 (Ryan Homes)

Braemar Property Value Report: March-April 2018 (Ryan Homes)

The Braemar pool opening weekend is here!  Hope you’ve got your pool pass, swimsuit and sunscreen ready to go.  And don’t forget a brightly colored beach towel.  Even as an adult, picking out a fashionable beach towel is fun.

When you enjoy your work, like I do as a Top Braemar Real Estate Agent, even time spent doing these market reports is satisfying.  Yes, I could be on my front porch in an Adirondack chair, adult beverage in my hand, watching the world go by right now, but I would feel bad enjoying myself when it is time (by my own self-imposed calendar) to do another Braemar Property Value Report.  This one focuses on sales of homes built by Ryan Homes.

There were two Ryan Homes that sold between the beginning of March and end of April.  The details of the sales are below:

When we take these two sales, and freshen up the data for the past year of Ryan Homes sales, here’s what we find:

The first thing I notice looking at these numbers is that the six and twelve month median sold prices are the same.  That means values are holding steady.  However, the six month average value dipping below the twelve month average is not something I necessarily like seeing.  The good news is that it is a small dip and not likely to be a negative indicator.  The best news is that seller subsidy in the six month average and median value has gone down compared to the twelve month seller subsidy values.  That means sellers are paying less in closing cost assistance to buyers in the last six month.  The thing I don’t like seeing is that the marketing time has increased in both the six month values compared the twelve month values.  Still, looking at the raw data, some homes, like the second sale noted above, happen in a week or less.

If you placed your Ryan Home on the market, priced to current conditions in Braemar, you might set your expectations to be under contract in about two months.  If it happens quicker, you won’t be disappointed.  Plus, we are heading into the slower summer selling season.  You could also expect to pay an average of nearly 1% of the sales price in closing cost help to the buyer.

The next Braemar Property Value Report will out in July.  If you have specific questions about selling your home in the meantime, give me a call.  Since 2005, No One Knows Braemar Better!  

Now, if you’ll pardon me, it’s time for me to enjoy that glass of wine on the porch.  Wonder if there will be any deer walking along the wood line.

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

Braemar Property Value Report: March-April 2018 (NV Homes)

Braemar Property Value Report: March-April 2018 (NV Homes)

While this top Braemar Real Estate Agent has been busy with various stages of selling Braemar homes, I am sure that a lot of you have been prepping for the opening of the Braemar pools.  There were several emails that came through about the change of the pool passes.  Getting the new pass, swimsuits and sunscreen have been projects for many Braemar households.   Meanwhile, the pool I’m playing in is Braemar real estate market data.

This Braemar Property Value Report focuses on sales of NV Homes in our neighborhood during the months of March and April.  So without further delay, let’s get to it.

There was only one NV Home in Braemar that sold during our current reporting period.  It is detailed below:

The way I used to do these market reports, having one sale for a reporting period could make our values seem to go up and down like a yo-yo.  Now, by taking this most recent NV Home sale and placing in with the sales of NV Homes in Braemar for the last year, we can derive six and twelve month data points and get a better sense of where values are heading.  Here’s what those data points look like, updated with the sale above:

In a rising market, the six month sold prices are higher than the twelve month sold prices.  Here we see our six month average is higher than the twelve month average, but the six month median is below the twelve month median.  What does that mean?  It means values are holding steady.  In the meantime, the seller subsidy (closing cost assistance) values in the six month data points are lower than the twelve month data points.  That’s great news!  Seller subsidy is going down, meaning Braemar sellers are keeping more money when they sell.  Marketing time is another story.  The six month average is double the marketing time we see in the twelve month average.  However, this doesn’t panic me when I see the six month median is only one week, compared to about two weeks in the twelve month median.  There was one sale in the last six month that took 314 days to happen and it is throwing that average value.

If you placed your NV Home on the market, priced to current market conditions in Braemar, you could expect your home to be under contract in a week or two.  You could also expect to pay about one percent or so of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in July.  Hope you enjoy some fun in the sun at the pools between now and then.  And as always, if you want to know the value of your specific home in our Braemar market, 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 Property Value Report: March-April 2018 (Heritage Series)

Braemar Property Value Report: March-April 2018 (Heritage Series)

Being a Top Braemar Listing Agent, it is just as useful for me, as it is for you, to run these Braemar Property Property Value Reports.  It keeps me up to date on the latest happenings in the market, which is a must.  Buyer agents, with a desired price in mind to offer, will cherry pick comps and try to beat Braemar sellers down.  Not my Braemar sellers!  When I run market comps, they are solid, but that’s because I study the market by doing these reports and helping so many Braemar sellers.  Going over Braemar comps to me is like Rocky running up and down those steps in Philadelphia.  It keeps me in top listing condition as your Braemar expert.

Today’s Braemar Property Value Report focuses on Heritage Series homes. Heritage Series homes are mid-sized single family homes, built by Brookfield Homes.  They have two car attached garages and include the following floor plans:  Exeter, Yardley, Zachery (a.k.a. Zurich) & Waverly.  The homes built by Coscan in Braemar North Gate are also included in this group, as they are similar in size.

In the months of March and April, four Braemar Heritage Series homes sold.  Details of those sales are listed below:

When we take these sales and put them in with the Heritage homes sale in the last twelve months, we get a fresh set of six and twelve month data points that look like this:

With the six month average and median sold prices being higher than the twelve month average and median sold prices, we can see that Braemar Heritage home prices are still pushing forward.  Seller subsidy (closing cost assistance to buyers) is remaining about the same at about one percent of the sales price.  Marketing time is also about the same, maybe a little faster.

If you placed your Braemar Heritage Series home on the market, priced to current conditions, you could expect it to be under contract in one to three weeks time.  You could also expect to pay about one percent of the sales price in closing cost help to the buyer.

The next Braemar Property Value Report will be out in July.  Until then, when you want a thorough look at your Braemar home’s value in today’s market, 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

 

 

Open Sunday, May 20th (2018,) 1pm-3pm: 12146 Millbill Court in Braemar

Open Sunday, May 20th (2018,) 1pm-3pm: 12146 Millbill Court in Braemar

Stop by 12146 Millbill Court on Sunday, May 20th between 1pm-3pm to see a gorgeous, move-in ready, cul-de-sac home in Braemar.   With three finished levels, including a walk out basement, and expansive outdoor living spaces, this home has so much to offer.  Virtually every thing in the home has been replaced in the last four years.

Whether you are looking to buy a Braemar home, or possibly list in the future and want to see how I represent my Braemar sellers, stop by this Sunday, May 20th between 1pm-3pm.

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 Property Value Report: March-April 2018 (Courtyard Series)

Braemar Property Value Report: March-April 2018 (Courtyard Series)

Another dreary day means another perfect opportunity to share the latest information on Braemar home values.  Today’s Braemar Property Value Report will focus on Courtyard homes.  Braemar 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 Courtyard homes that sold between March and April.  The details of those sale are below:

Taking these two sales and adding them to the rolling twelve month pool of Braemar Courtyard home sale data, here is what we get:

First of all, the great news is that most recent sales at the top are both ABOVE the six and twelve month average and median sold prices.  That is indicative that will we will be seeing an increase in values.  Right now, comparing our six month average and median sold prices to the twelve month average and median sold prices we see hardly any movement.  Where do see change is that the six month average and median seller subsidy (closing cost assistance to buyer) is up from the twelve month average and median seller subsidy.  Not a trend future Braemar Courtyard home sellers like to see.  Nor is the increase in marketing time in the six month values vs. the twelve month values.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in about one month.  You could also expect to pay three percent of the sales price in closing cost help.

The next Braemar Property Value Report will be out in July.  Until then, if you want to know that the current market conditions mean to your home’s specific 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