Braemar Townhouse Report: May-June 2019

Braemar Townhouse Report: May-June 2019

BWelcome to the Braemar Townhouse Report!  This is the last of the Braemar Property Value Reports that I compile to keep Braemar home owners up to date on what is happening in our real estate market.  This particular report covers the sale of traditional townhouses in Braemar that are NOT condos, have three levels and a back yard.

There were eighteen townhouses in Braemar that sold between the beginning of May and end of June.  Final sold prices ranged from $270,000 to $385,000.  The details of those sales are listed below in chronological order.

Adding these eighteen sales with the previous twelve months worth of Braemar townhouse sales, our six and twelve month data points are updated as you see below.

Starting with the sold price column, we immediately see a great trend.  The six month average and six month median sold prices are both above their respective twelve month data points.  That means Braemar townhouses are still pushing up in value.

Seller subsidy, a.k.a. closing cost help to buyers, shows another trend favorable to Braemar townhouse sellers.  Both the six month average and median seller subsidy amounts are lower than their twelve month counterparts.  This means buyers are asking for less closing cost in this competitive market when demand is high and inventory is low.

Days on market, or what I call marketing time, is an unreliable category since the change to our new MLS in November 2018.  Our previous MLS stopped counting days on market no matter what contract status a listing agent chose for a listing.  It truly told us how long it took to go under contract.  Our new MLS has two different contract statuses and each one stops counting days on market at a different point.  One when a property goes under contract, another when the buyer’s contingencies have been removed.  If we took these numbers at face value, it seems that the six month average marketing time is a little longer than it has been in the longer term, twevle month average.  The six month median marketing time is only one day longer than the twelve month median marketing time.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement within two to four weeks.  You could also expect to pay out about 1% of the sales price in closing cost help.

The next Braemar Townhouse Report will be out in September.   Until then, when the time comes to sell your Braemar townhouse, call me for the best results.  Selling Braemar homes for top dollar is my specialty.  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 Property Value Report: May-June 2019 (Ryan Homes)

Braemar Property Value Report: May-June 2019 (Ryan Homes)

With just a few days left in July, I’m getting the last of the Braemar Property Value Reports out for public consumption.  It’s an internal deadline that I set for myself that I will have these out by the last day of the month following the reporting period.  Real estate agents being independent contractors with no one to answer to, setting deadlines is a business practice you will find among top agents.

This particular Braemar Property Value Report covers the sales of single family homes, built by Ryan Homes, during the months of May and June.  During that time, there were four resales, ranging in sold price from $475,000 to $570,000.  Details of those sales are listed below.

Taking these sales above and combining them the entire preceding twelve months of Ryan Home sales, we get new six and twelve month data points, pictured below.

Examining the trends in the sold prices, there is an increase in both the six month average and six month median sold prices from their respective twelve month values.  This means Ryan Homes are still pushing up in value.

When it comes to seller subsidy, a.k.a. as closing cost assistance to buyers,  a trend presents itself that does not favor Ryan Home sellers.  Both the six month average and six month median seller subsidy values are higher than their twelve month counterparts.  This means buyers have been asking for, and receiving, more seller subsidy in the most recent sales.

Days on market, a category that has become unreliable with a change in how that data is recorded in our new MLS, which was adopted in November 2018, we see that the six and twelve month averages are the same.  The six month median is only one day shorter than the twelve month median.

If you placed your Ryan Home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement in a month at worst.  You could also expect to pay about 1.5% of the sales price in closing cost help.

The Braemar Property Value Report will be out in September.  Until then, if you want to investigate what the market might bring in regards to your own home’s value, give me a call for the most accurate, free, market analysis.  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 Property Value Report: May-June 2019 (NV Homes)

Braemar Property Value Report: May-June 2019 (NV Homes)

Another sunny, hot and humid day is upon in Braemar.  What a perfect weekend day to enjoy our community pools.  No doubt it will be filled with families today.  This Top Braemar Real Estate Agent will stay in her air conditioned home office and plug away on what remains of her Braemar Property Value Reports.  This particular report focuses on the sales of single family homes built by NV Homes in our neighborhood during the months of May and June.  Let’s get right to it.

There were three NV Homes in Braemar that sold in the last two months.  Their sold prices ranged from $518,000 to $600,000.  Pretty big range.  As you will see from the detailed break out of those sales below, the lower end was a home with a finished basement with no exit.  What you don’t see in that detail sheet below was that the property on Island Fog was a Short Sale.  That meant a very patient buyer was needed to wait for Short Sale Approval.  The pain-in-the-butt factor for that process definitely knocked some money off that bottom line.  The other two seem to show a difference in what a finished basement with a walk out exit vs. an unfinished basement with no exit gets in the marketplace.

Taking these most recent sales and combining them with the entire last twelve months of NV Home sales, we get updated six and twelve month data points, which are pictured below.

To begin with, we see a favorable trend for NV Home owners in Braemar when it comes to sold price.  Both the six month average and six month median sold prices are above their respective twelve month data points.  This means that NV Homes in Braemar are still pushing up in value in the short term.

Seller subsidy, unfortunately is showing a trend in the short term that is not favoring Braemar NV Home sellers.  Bot the six month average and median seller subsidy values are well above their twelve month counterparts.  This means that Braemar buyers have been asking for, and receiving, more closing cost help from sellers.  Of course, looking to the most recent sales, the home on Arthur Graves Jr. could be the sole reason for these numbers being inflated in the short term.  That $20,000 in closing cost help sticks out like a sore thumb.

When it comes to days on market, which I like to refer to as marketing time, it seems that despite the increase I expected to see in comparing values longer term values from our old MLS, (which went out of service in November 2018,) to the new MLS which took over, we see a decrease in the six month average and median marketing times compared to the twelve month average and median marketing times.

If you placed your NV Home on the market, priced to current conditions, you could expect it to be under contract in about two weeks.  You could also expect to give about 2% of the sales price in closing cost help, possibly less.

The next Braemar Property Value Report will be out in September.  Until then, give me a call when you are ready to feel out the market for the sale of your Braemar home.  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 Property Value Report: May-June 2019 (Heritage Series)

Braemar Property Value Report: May-June 2019 (Heritage Series)

10024 Naughton Court in Bristow went under contract in 1 Day.

What’s a Top Braemar Real Estate Agent do on the weekend when they aren’t showing property on Saturday?  Research the market and put out another Braemar Property Value Report of course!  This particular edition focuses on sales of Heritage Series homes in Braemar between May and June. 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.

There were nine Heritage homes that sold in Braemar between May and June.  Exactly the same number of Heritage homes that sold in our last report, by the way.  Sold prices ranged from $425,000 to $539,000.  Details of those sales are listed below.

You may immediately notice that the last sale is highlighted in pink.  That is because that was a home that I listed and sold.  It was great to be able to help the seller of 10024 Naughton Court get multiple offers and sell above list price.  Selling Braemar homes for top dollar is my specialty.

Taking these nine sales from May and June and combining them with the entirety of the last twelve months of Heritage home sales, we get updated six and twelve month data points.  Here’s what they look like now:

Let’s start with a quick look at sold prices.  The six month average sold price is higher than the twelve month average sold price.  Meanwhile, the six month median sold price is exactly the same as the twelve month median sold price.  The former indicates rising values.  The latter indicates stability.  Either way, home values aren’t falling.  We’ll just wait to see if there is a more definite trend next report.

In the category of seller subsidy, a.k.a. closing cost help to buyers, there is a definite trend and it favors sellers.  The six month average seller subsidy is lower than the twelve month average seller subsidy.  While the six and twelve month median values are the same, they are holding at zero closing cost help.  In this market of high demand and low inventory, buyers are having to forego large closing cost requests to win in multiple offer situations.

When it comes to days on market, we have not yet gotten to the point of having twelve solid months of marketing time data from our new MLS.  It won’t be until January 2020 that we do.  So for now, any trend here is unreliable.  That said, this report shows that the average days on market is unchanged from the twelve month value to the six month value.  Meanwhile, the six month median days on market is shorter than the twelve month median days on market.

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement within a week or two and a half.  As for closing cost help, if you had to give any, it would likely be minimal.

The next Braemar Property Value Report will be out in September.  Until then, when you are ready to investigate the sale of your Braemar home, 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

 

Available For Rent Immediately:  Braemar Three Bedroom, Garage Townhouse 

Available For Rent Immediately:  Braemar Three Bedroom, Garage Townhouse

In the market for a three bedroom, two and a half bathroom garage townhouse for rent in Braemar?  This interior unit, located at 13016 Shenvale Circle is just the ticket.

Available for immediate occupancy, this home is listed for $2100/month.  In addition to having a traditional, three level townhouse with a fenced yard, patio and deck, this townhouse also comes with basic cable and internet through RCN as part of your monthly rent.  Pay out of pocket for upgraded channel packages or internet speed/services.

Master suite has vaulted ceiling and attached full bathroom with dual sinks, soaking tub and separate shower.  Secondary bedrooms share hall access to the second full bathroom.

Main level floor plan is open, with kitchen as a central point of interest.  Kitchen overlooks living room/dining room in front and opens to the family room on the side.  Enjoy the gas fireplace in the colder months.

Washer and dryer are located off the basement recreation room.

Landlord is open to tenants with dogs, but not okay with cats.  Pet rent is $50 additional in monthly rent, per animal.  There is also a refundable pet deposit of $500 before move-in.

Want to see this one for yourself, 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 Property Value Report: May-June 2019 (Courtyard Series)

Braemar Property Value Report: May-June 2019 (Courtyard Series)

It’s finally beginning to feel like summer.  Sure it has been sunny and hot, but that’s not what I mean about feeling like summer.  To this Top Braemar Listing Agent, feeling like summer means the real estate market starts to slow down a bit.  And sure enough, this is the first full week that I have not been booked day in and day out.  Summer vacation season is upon us, which means the real estate market may finally be taking a breath.  That’s fine.  It is just in time for me to roll out my Braemar Property Value Reports.

Today’s report focuses on sales activity of Braemar Courtyard Series homes in May and JuneIf you don’t know what defines a Braemar Courtyard home, they are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Ballston and Clarendon.

Between May and June, three Braemar Courtyard homes were sold.  By chance, all were Clarendon models with walk out basements.  Oddly, if you take a look at the sales below, the one with the fewest bedrooms sold for the highest price.  But with such a tight grouping of final sold prices, I think the walk out basements had more to do with those prices.

When these three sales are combined with the entirety of the last twelve months of Braemar Courtyard home sales, we get updated six and twelve month data points.  Let’s take a look.

Our first data point, sold price, shows good a good trend.  Both the six month average and six month median sold prices are above their respective twelve month sold prices.  That means Braemar Courtyard homes are continuing to gain value.

Seller subsidy, a.k.a. closing cost help to buyers, reveals a trend that is not as great.  Both the six month seller subsidy values are more than their twelve month counterparts.  That means buyers are asking for, and getting, more closing cost help lately.

Finally, we come to days on market.  With the change to our new MLS in November 2018, we began getting two different ways of counting days on market depending on which contract status you chose.  In our previous MLS, no matter what contract status you chose, days on market stopped counting.  Until we get to January 2020, we won’t have an apples to apples comparison.  As it stands with the data above, the six month average days on market is shorter than the twelve month days on market.  Meanwhile the six month median days on market is longer (by one day only) than the twelve month median days on market.  My greatest hope is our new MLS will eventually adopt the same days on market counter as our last MLS.  For now, we have to deal with the data we have.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement within four to five weeks.  You could also expect to give at least a little more than 1% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in September.  Until then, give me a call when the time for the sale of your Braemar home is nearing.  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 Property Value Report: May-June 2019 (Carriage Series)

Braemar Property Value Report: May-June 2019 (Carriage Series)

It is time for another Braemar Property Value Report, featuring the latest sales of Braemar Carriage homes If you don’t know what makes a Braemar Carriage home a Carriage home, they 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.

During the months of May and June, there were nine Braemar Carriage homes that sold.  Final sold prices ranged from $415,000 to $460,000.  The details of each sale are listed below.

Combining these sales with the entirety of the last twelve months of Braemar Carriage home sales gives us an opportunity to check out our refreshed six and twelve month data points.  Here’s what they look like:

Starting with sold price, which ultimately is top of every Braemar Carriage home owner’s mind, we see that both the six month average and six month median sold prices are above their respective twelve month values.  This means that Braemar Carriage homes are continuing to push up in value.

Looking at seller subsidy, which is also known as closing cost assistance to buyers, we see more good news for Carriage home owners.  The six month average seller subsidy is slightly below the twelve month average.  Meanwhile, the six month median seller subsidy is one-fourth the amount in the twelve month median.  And just looking above the most recent nine sales, five of nine sales gave absolutely nothing in closing cost help.  As more buyers compete for fewer homes, their closing cost requests are shrinking or going away entirely.

Finally, we come to days on market.  As you may recall, our region switched to a new MLS in November 2018.  The new MLS has a contract status that stops counting days on market a little further into a transaction, not when the property goes under contract.  It has another contract status that stops counting days on market as soon as it goes under contract.  Our previous MLS stopped counting days on market as soon as any contract status was chosen.  As such, we have a mish-mash of data and unreliable marketing time information.  This report indicates that the average days on market is increasing slightly, but median days on market is decreasing.  We won’t have an accurate gauge on this until January 2020.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement in about three to five weeks.  You could also expect that if you had a closing cost request, it would be minimal.

The next Braemar Property Value Report will be out in September.  Until then, when you are preparing to sell your Braemar Carriage home, give ma a call for the most accurate analysis of your home’s value, as well as the most thorough and professional marketing plan.  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