Braemar Reflection Quarterly: January-March 2019 (1st Quarter)

Braemar Reflection Quarterly: January-March 2019 (1st Quarter)

9684 Tarvie Circle is Listed for $439,000 on April

Having a Braemar Reflection listing currently under contract at 9684 Tarvie, I was really curious to see the latest data in this edition of Braemar Reflection Quarterly. And I have to say, some things don’t match up with my recent experience.  So let’s get to it, the 1st Quarter edition of the Braemar Reflection Quarterly, featuring sales of the semi-detached homes located on Tarvie Circle.

There was one Braemar Reflection home that sold during the 1st Quarter of 2019.  The details of that sale are below:

Taking this sale and combining it with the previous three quarters, six and twelve month data points are updated, and they look like this:

Turns out the sale in the 1st Quarter was the only sale in the previous six months.  The good news is that the $455,000 sold price is higher than the twelve month average and median sold prices.  And knowing what is coming down the pike at 9684 Tarvie, I can tell you that values are still going to be climbing.

The seller subsidy, or closing cost assistance values, are about the same compared to the most recent sale vs. the twelve month average and median.  Buyers are obviously still in need of, or simply expecting, closing cost help to buy a property like a Braemar Reflection home.

Finally, days on market (marketing time) took a lot longer in the most recent sale reported in the 1st Quarter compared to the previous twelve months average and median marketing times.  Even my own listing at 9684 Tarvie was under contract in a matter of days.  Not sure what to make of this, but time will tell.

If you placed your Braemar Reflection home on the market, priced to current conditions, this report would have you believe it would take nearly four months (worst case,) or a couple weeks (best case) to get your home under contract.  Again, I have to defer to my well trained Braemar Real Estate gut and tell you that my most recent listing at 9684 Tarvie was under in only a handful of DAYS.  You could also expect to pay about $9,000 in closing cost help.

The next Braemar Reflection Quarterly will be out in July.  Until then, if you are thinking it is time to sell your Braemar Reflection home, give me a call for fast and profitable results.  You only get to sell your Braemar home once.  Don’t leave it to an agent who has no idea of the value of what they are selling, or who is in the market for it.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

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Braemar Piggyback Quarterly: January-March 2019 (1st Quarter)

Braemar Piggyback Quarterly: January-March 2019 (1st Quarter)

Not only is the first quarter of 2019 firmly behind us, but so is the first third of the second quarter.  Kids will be out of school before you know it.  Families will go on vacation and right about July and August, our Braemar real estate market will slow down.  It’s been such high demand and low supply for months that I think some sellers are taking it for granted.  The good news is that there is still time to get your home on the market before the dog days of summer.

Right now, it’s time for another Braemar Piggyback Quarterly.  This report focuses on resales of the back to back townhouses in our neighborhood.  What they lack in the absence of a back yard, they more than make up for with the two car garages and large bedroom sizes.

Looking back at the first quarter of 2019, only one Piggyback townhouse in Braemar sold.  It sold for $330,000.  The details of that sale are below.

Even though there is only one Piggyback townhouse sale to report this quarter, when it is placed with the previous three quarters of sales, we get a chance to see updated six and twelve month data points.

Seeing that the six month average and median sold prices are both higher than their twelve month counterparts, we see that Piggyback townhouse values are increasing. Not surprising given the high demand and scant supply we are seeing in our Braemar marketplace.

Another thing common in a seller favored market is dwindling seller subsidy (closing cost assistance to buyers.)  It is not a surprise to see the six month average and median seller subsidy values falling below the twelve month average and median values.

Now we come to days on market, or as I like to call it – marketing time.  When we switched to our new MLS in November, their method for counting days on market was different.  However, after many complaints from the subscribing agents, this new MLS has decided to keep consistent with how we had been counting days on market before.  Whew!  That said, seeing increases in both the six month average and median marketing times, compared to the respective twelve month values, is not what I was expecting.  Seems Piggyback townhouses take some time to snatch up their buyers and it is getting to be a little longer than the traditional townhouses in Braemar.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to be under contract in less than three months. (Honestly, I would be shocked if I placed a Braemar Piggyback townhouse on the market and it took more than two weeks to sell it.) You could also expect you may have to give about 1% of the sales price in closing cost help.

The next Braemar Piggyback Quarterly will be out in July.  Until then, if you want to take advantage of our high market demand and list before July and August, give me a call.  It’s my job to maximize your profit.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

 

Braemar Patio Quarterly: January-March 2019 (1st Quarter)

Braemar Patio Quarterly: January-March 2019 (1st Quarter)

Patio Home in Braemar

It’s hard for me to believe that today is the last day of April.  Time is flying by, but that’s how it feels when you are a Top Braemar Listing Agent in early spring.  There is so much activity that life is a blur.

Right now, it is time for another Braemar Patio Quarterly.  This report focuses on sales of the two level, quad style townhouses in our neighborhood.

During the first quarter of 2019, there was only one Braemar Patio home that sold.  Details of that sale are below:

Even with only one sale happening in the first quarter, the six and twelve month data points get updated.  When they do, here’s what we have:

Unfortunately, the six month average and median sold prices are both below their twelve month counterparts.  That indicates that Braemar Patio home values are softening in the short term.  Hard to believe with buyer demand being so high.  Hopefully the second quarter shows a strengthening of Braemar Patio homes.

When it comes to seller subsidy, otherwise known as closing cost help to buyers, the more recent trend is also not favorable to sellers.  Both the six month average and median seller subsidy values are above the twelve month average and median seller subsidy.  This means in the most recent sales, Braemar Patio home sellers are giving more closing cost help.

Finally, days on market shows the latest unfavorable trend to sellers.  Both six month values are above the twelve month values.  That indicates it is taking longer to sell Braemar Patio homes.  I have been qualifying that our new MLS counted days on market differently.  However, it seems after a lot of feedback from the agent community, they have gone back to counting days on market the way we have always done it.  That mean these days on market numbers are an apples to apples comparison.

If you placed your Braemar Patio home on the market, priced to current conditions, you could expect it to be under contract in no more than two months.   (I suspect the high demand we are experiencing will turn that into a much lower number.)  You could also expect to give about 1% of the sales price in closing cost help.

The next Braemar Patio Quarterly will be out in July.  Until then, when you want to know what your specific market value is looking like, give me a call.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

Braemar Condo Quarterly: January-March 2019 (1st Quarter)

Braemar Condo Quarterly: January-March 2019 (1st Quarter)

With the first quarter of 2019 well behind us, it is time for another Braemar Condo Quarterly.  In this edition of the Braemar Condo Quarterly, we’ll take a look back at the condo sales in our neighborhood from January to March.

All three sales in the first quarter, as it turns out, happened in the month of March.  The final sold prices ranged from $270,700 to $300,000.  The details of those sales are listed below:

So what do these sales mean in the grand scheme of things?  Well, combining these sales in with the last year’s worth of Braemar condo sales, our updated six and twelve month data points are as follows:

The way to read these data points is to bear in mind that the six month values are what has happened recently.  The twelve month values longer term.  When it comes to sold price, the six month average is slightly above the twelve month average.  That would be great if it were duplicated in the six month median compared to the twelve month median.  Instead, when it comes to median sold prices, the six month median is below the twelve month median.  Since neither six month value is grossly above or below their twelve month counterpart, that leads me to declare Braemar condo prices steady.

Seller subsidy, also know as closing cost assistance from sellers to buyers, has a very definite trend down.  Both the six month average and median seller subsidy are lower than their twelve month counterparts.  In our high demand/low inventory market, buyers are having to streamline their offers to get accepted.  This means not asking for as much closing cost help.

Days on market hasn’t changed much.  It has only gone up two days in comparing both the six month average and median to the twelve month average and median.  Not a big cause for concern that it would take two days longer to sell your Braemar condo in my book.

If you did place your Braemar condo on the market, priced to current conditions, you could expect it to be under contract in about three weeks or so.  You could also expect to pay about 1% of the sales price in closing cost help.

The next Braemar Condo Quarterly will be out in July.   Until then, when you are ready to move up or out of your Braemar condo and need to maximize the profit, give me a call.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

 

Part of Being a Braemar Real Estate Expert is Being Well Versed in Dunbarton

Part of Being a Braemar Real Estate Expert is Being Well Versed in Dunbarton

Dubnarton is the Active Adult Section of Braemar

Usually when I am called to duty as a Top Braemar Real Estate Agent, it is because a seller or buyer has found me online, seen an ad, or a yard sign with my information.  I’ve been at this since 2005.  You know my tag line, “No One Knows Braemar Better!”  I take that seriously.  And part of knowing Braemar the best is knowing about the Active Adult section of our neighborhood–Dunbarton.

There I was, minding my own business in our Long & Foster Gainesville office when the phone rang on a rainy Sunday afternoon.  Being one of two agents in the office, the other on the phone, I diverted my attention from my Braemar Property Value Reports to answer.  On the other end of the phone with a man wanting information on a foreclosure listed in Dunbarton, but unwilling to give me any information about himself.  We struck a deal.  I would spend a few minutes tracking down the information on that home and he would call me back for the scoop.  Having been a journalism major in college, getting to the bottom of something is one of the skills I learned early and it serves me well as a Braemar Real Estate Agent.

When the buyer called me back, I told him what I had found and it wasn’t good.  The proposition to buy the foreclosure was a bad deal.  I had inside information on the condition and the situation.  This guy wanted no part of it.  So I asked him what he wanted.  He wanted a small villa style home in an Active Adult community. He had lived in Dunbarton and wanted to live there again.  We struck a deal.  He wasn’t hiring me that minute and that was fine.  But he agreed to think about it if I came back with a home for him to buy.

12921 Fetlar Way is the latest home to be part of my Braemar sales

Within days, I was on the phone with the buyer.  I had uncovered two coming soon listings in Dunbarton.  The first one I was able to get in to see sounded like his dream come true.  Since he was out of the state, there was some going over floor plans via email and phone, determining if this might be a fit.  When we determined it was exactly what he was looking for, he sent his daughter to take a look on his behalf.  The day his daughter saw it and reported back to him, he hired me to represent him buy it.

 

The home in question was 12921 Fetlar Way.  It home had been remodeled.  I had toured it with another buyer a few years earlier when IT had been a foreclosure.  Since then, it had engineered hardwood floors, new appliances and a new roof.  It was really well maintained and listed for $350,000.  It was a steal at that price.

This buyer was thrilled to view the home when he came into town with his wife.  This was exactly what he wanted.  And today, the home became his for $350,000.

Representing sellers in Braemar is only one aspect of my job.  It is my pleasure to represent buyers as well.  And I’m happy to help you find the home you want BEFORE it hits the market.  If you need help buying or selling in Braemar, or Dunbarton, give me a call.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

 

How Long Does it Take to Sell a Semi-Detached Braemar Home?

How Long Does it Take to Sell a Semi-Detached Braemar Home?

9684 Tarvie Circle is Listed for $439,000 on April

On April 11th (2019) this semi-detached home in Braemar, located at 9684 Tarvie Circle, hit the market priced at $439,000.  I had listed the home for the previous owners back in the fall of 2016, it wasn’t in nearly as impressive shape as it was this spring.  The new owners added granite counters to the kitchen, along with a tile backsplash.  New light fixtures made the place more modern, along with touches like the shiplap accent wall in the family room, and tile accent wall in the powder room.  A new HVAC and new carpet certainly were welcome additions as well.

In the last Reflection Quarterly, for the 4th Quarter of 2018, it was taking about thirty days for these homes to go under contract.  That was what we were set for with this home.  The sellers and I were pleasantly surprised by lots of showings and two offers that came in only two days!  When you have a great product, marketed by a masterful listing agent, good things happen.

The settlement is set to happen at the end of May.  Stay tuned for the final sold price.  In the meantime, if you have a Braemar single family home to sell, demand is off the charts!  Call me for a free market analysis of your home’s value in this market.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

What Better Thing to Do on a Gorgeous April Day than Sell a Braemar Home?

What Better Thing to Do on a Gorgeous April Day than Sell a Braemar Home?

12146 Millbill Court sold for $499,800 on April 16th, 2019.

On February 28th (2019,) I introduced 12146 Millbill Court to the market. It was priced at $495,800 and offered a near completely renovated home.  Everything but the siding and kitchen cabinets was new.   And the larger than average lot size for a Braemar home, sitting on a cul-de-sac street with a gorgeous tiered deck, well, I knew it was going to get eaten alive by the market.

Sure enough, after the first day on the market, two buyer agents had offers over to me. On the second day, as we were preparing to go over those offers, a third arrived.  The sellers had offers above list.  Buyers were offering free rent backs and having home inspections for informational purposes only.  It was definitely advantage seller.

The sellers didn’t chose the highest offer.  That offer had a home sale that needed to wrap up before closing on this one.  Instead, they made a modest counter to a full price offer they had received with no strings attached.  It offered a free two month rent back and home inspection for informational purposes.  (Take note buyers.  Sellers like certainty.)

On April 16th, this gorgeous home that will be a maintenance free zone for the new owners for likely a long time, closed for $499,800.  

What’s funny to me is that Mr. Seller was worried that they were listing too soon.  He was concerned the grass wasn’t green enough and the flowers weren’t blooming.  A very wise real estate agent (ME) told him that those things didn’t matter.  The green he was going to love was the green he was going to get from selling quickly.  The early spring market has been amazing for Braemar sellers.

There is still very high demand for Braemar single family homes.   Just got another under contract this Sunday after multiple offers.   And another yesterday with multiple offers than I just haven’t had time to tell you about just yet.  Have one you want to sell?  Give me a call and let’s get going.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com