Braemar Townhouse Report: July-August 2020

Braemar Townhouse Report: July-August 2020

It it time for another Braemar Townhouse Report, featuring sales of traditional three level townhouses with back yards in our neigbhorhood.  This particular report looks back to the months of July & August.  During that time, there were nine Braemar townhouses that sold.  Their final sold prices ranged from $330,000 to $385,000.  Details of each sale are listed below:

Taking these nine sales and combining them with the past entire twelve months of Braemar townhouse sales, the updated six and twelve month value points are updated as pictured below:

Starting with the sold price column, both the six month average and six month median sold prices are above their respective twelve month values.  This means Braemar townhouse values are continuing to rise.  No surprise in this intense seller’s market.

The seller subsidy column is where we find out how much closing cost help Braemar townhouse sellers are giving in their transactions.  For starters, it is great to see that the six month average seller subsidy is less than the twelve month average seller subsidy.  Sellers have been giving less closing cost help on average in the most recent sales.  Even better, the six month median seller is at zero, compared to the $2,500 value found in the twelve month median.  In the most recent sales, more than than half of Braemar sellers have given no closing cost help.

Finally we get to the days on market column.  Here we see slightly faster marketing times in the six month values compared to the already fast twelve month values.  Again, no surprise when you see the intense demand and lack of inventory in our market.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect to be under contract in a week or less.  If you had to give closing cost help, you could reasonably expect it would be a modest amount.  Better yet, you may have to give none.

The next Bramear Townhouse Report will be out in November.  Until then, if you find yourself needing to move up into a larger home, or relocate, know that our year end market is going to be extremely busy this year.  Better yet, we will have very little competition.  Give me a call to investigate what a year end sale would mean for you.  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: July-August 2020 (Ryan Homes)

Braemar Property Value Report: July-August 2020 (Ryan Homes)

The month of September is slipping by fast and I am in the home stretch of putting out all my most recent Braemar Property Value Reports.  My internal deadline is to have them out by the end of the odd numbered months.  Tick tock.  Today’s report focuses on sales of houses built by Ryan Homes in our neighborhood and like the rest of the reports put out this month that preceded it, details sales in the months of July and August.  Let’s get right to it.

There were only two Ryan homes that sold during our current reporting period.  There’s a fairly big difference in their final sold prices.  See for yourself.

The difference in sold prices here goes beyond an additional bedroom on Gentle Shade.  I listed 12833 Gentle Shade the last time it sold.  The home was in good shape, but in need of updating.  Boy, did the new owners take care of that.  That home was updated from head to toe and the basement even finished.  Ballagan, while a nice looking home in good condition, still had basic finishes.

Taking these two sales and combining them with the entire previous twelve months of Ryan home sales in Braemar, our six and twelve month data points are updated as found below:

Starting with the sold price column, we see very healthy increases when comparing the six month average sold price to the twelve month average, and the same when comparing the six month median to the twelve month median.  This means Ryan homes in Braemar are continuing to gain value in this seller’s market.

Seller subsidy is a column where we learn how much closing cost help, on average, sellers of Ryan homes are giving in their sales.  When looking at the details of our two most recent sales, the sellers gave no seller subsidy at all.  However, the six month average seller subsidy is a bit higher than the twelve month average.  Not the direction I’ve noticed lately.  More importantly, the six month median is exactly the same as the twelve month median.  This means that even the shorter term, more than half the Ryan home sellers in Braemar have been giving closing cost help of at least $5,000.

Days on market clearly shows the current seller’s market in full swing.   The six month average marketing time has decreased by twenty days from the twelve month average.  Meanwhile, the six month median is two days shorter than the already quick twelve month median.  Buyers are gobbling up Ryan homes in Braemar just about as fast as they are coming on the market.

If you placed your Ryan home in Braemar on the market, priced to current conditions, you could expect it to be under contract in less than one week.  You could also expect to give in the neighborhood of about 1% of the sales price in closing cost help, but might get away with giving nothing if this buyer demand continues producing intense competition.

The next Braemar Property Value Report will be out in November.  Until then, know that if you want to take advantage of the peaking prices in our neighbor, the year end market is a great time to do it.  Limited inventory is only getting more limited while buyers are still out in droves.  Get in touch and let’s investigate what a year end sale might mean for you.  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: July-August 2020 (NV Homes)

Braemar Property Value Report: July-August 2020 (NV Homes)

Another late September day, another Braemar Property Value Report to share.  This one focuses on the sales of houses built by NV Homes in our neighborhood and covers the activity from July and August.

There were two NV homes that sold during our current reporting period.  Their sold prices were very close to each other at $552,000 and $565,000.  Looking at the details below, on paper it seems the only difference is one had a walk out basement exit and the other didn’t have an exit at all.  That $13,000 difference in sales price, if all else is equal, is what appraisers call a market extraction.  That’s how appraisers determine values of different upgrades or structural differences.  Find two that are mostly alike except for one thing  and figure how much that one thing the higher priced home had is worth.  There isn’t just a list of values for basement exits, extra bedrooms, bathrooms, upgraded kitchens, etc.  It’s all determined by market extraction and why values for upgrades and structures change so frequently.  It’s one of the reasons that hiring a listing agent that understands this principle is so important.  They may be able to find a higher extraction and raise your value.

Enough with the market extraction lesson, the details of those NV home sales are listed below:

As is my practice, I take these most recent sales and combine them with the rolling twelve months of NV home sales and extract six month and twelve month value points to tell us how our market is trending.  The updated values can be found below:

Starting with the sold price column we see that the six month average is a tad higher than the twelve month average sold price.  Meanwhile, the six month median is nearly $10,000 higher than the twelve month median.  While NV home values are still pushing up, their rate of gain is not as pronounced as we see in lower price ranges.  The higher price ranges in our market have not been seeing the frenzied activity of the low $500K and below homes.  Still, upward pressing values is still a good thing.

The seller subsidy column shows us how much closing cost help NV home sellers have been giving on average.  The six month average has fallen below the twelve month average by more than half.  And the six month median and twelve month median remain at zero.  The latter means that more than half of buyers for NV homes are foregoing closing cost requests, or having them negotiated away, in their transactions.  We do see in the two sales above that one seller gave nothing and the other gave $3,000.  Seeing $15,000 in closing cost help is going to be exceptionally rare in this seller’s market.

Days on market is where we find out how long it is taking NV homes to sell in Braemar.  Though only up by one day each, the six month average is higher than the twelve month average and so is the six month median compared to the twelve month median.  The two most recent sales show days on market of over three weeks.  As I stated earlier, the higher price ranges are not as fast as the lower priced single family homes in our market.

If you placed your NV home on the market, priced to current conditions, you could expect it to be under contract in two to three weeks.  You could also expect to give minimal closing cost help, if any at all.

The next Braemar Property Value Report will be in out in November.  Until then, I hope you all enjoy the fall season’s upcoming display of brilliant color.  Of course, if you have been thinking of taking advantage of the peaking prices in our neighborhood, or find yourself in a position where a move is inevitable, know that our year end market is one of my favorites in which to sell.  Demand is always there, but inventory is very low.  This year, that difference will be even more pronounced with higher buyer demand than we have seen many fall markets.  Give me a call and let’s see what a year end sale would mean for you.  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: July-August 2020 (Heritage Series)

Braemar Property Value Report: July-August 2020 (Heritage Series)

The arrival of fall is one of my favorite things in a calendar year.  Like many, I am anxious to see the brilliant display of fall foliage that is on the way.  In the meantime, allow me to share with you the most recent Braemar Property Value Report.  This one details sales of homes in the Heritage Series.  Heritage 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.

 

During the months of July and August, there were fourteen Heritage homes that sold.  That’s a lot, but still not enough to meet our current buyer demand.  Details of those sales are listed below:

Taking these fourteen sales and combining them with the entire past twelve months of Heritage home sales in Braemar, our six and twelve month data points are updated as seen below:

Starting with the sold price column, we see increased values in the six month average and median sold prices over the twelve month average and median sold prices.  This means Braemar Heritage homes are continuing to increase in value.  That’s the beauty of a seller’s market.

In the seller subsidy column, we learn how much closing cost help Braemar Heritage home sellers are giving in their transactions.  The great news is that it is not much, if anything at all.  The six month average seller subsidy has been whittled down about one thousand dollars from the twelve month average.  Meanwhile, the median values still show us that more than half the sales, in the last six months and during the last year, are giving nothing in seller subsidy.

Days on market is another column where we see the seller’s market condition in full swing.  The six month average marketing time is less than half the twelve month average marketing time.  Meanwhile, the six month median days on market is exactly that same as the twelve month median.  Heritage homes in Braemar are selling quickly!

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect to be under contract in about a week or less.  You could also expect that you would have enough leverage in negotiations to not give anything in closing cost help.

The next Braemar Property Value Report will be out in November.  Until then, if you want to take advantage of the peaking values this seller’s market is producing, know that the year end market is going to push them even higher.  Why?  There are even fewer sellers this time of year and I can tell you, the buyers are still out looking for homes.  Give me a call and let’s look at what a year end sale would mean for you.  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: July-August 2020 (Courtyard Series)

Braemar Property Value Report: July-August 2020 (Courtyard Series)

As September is drawing to a close, as with every other odd numbered month, I find myself pressed to get out the latest Braemar Property Value Reports.  Whether you realize it or not, these are report compiled by me.  I don’t get a computer to dump values into a spread sheet.  Nope, I pull the sales, collect the data and prepare this reports for you.  That’s one of the reasons I am a Top Braemar Agent.

Today’s report is for Courtyard homes and looks back on the sales activity for July and AugustIf you aren’t sure what a Braemar Courtyard home is, they are the single family homes located on Orland Stone, Pentland Hills and Playfair.  Five homes share a courtyard driveway and have a strip of yard separating them from each other.  I often refer to them as city homes or executive style homes, as they require the most minimal lawn maintenance and have very contemporary floor plans named the Arlington, Ballston and Clarendon.  What they lack in lawn, they more than make up for in generous bedrooms sizes.

There were three Braemar Courytard homes that sold during our current report period.  Final sold prices ranged from $450,000 to $495,000.  The details of those sales are listed below:

Taking these three sales and combining them with the entire previous twelve months of Braemar Courtyard home sales our six and twelve month data points are updated as seen below:

Starting with the sold price column we see that there is a healthy increase in the six month average and six month median values compared to their respective twelve month values.  This means Braemar Courtyard homes are increasing in value.

The seller subsidy column is where we get to see how much closing cost help Braemar Courtyard home owners have been giving in their transactions.  Obviously, in the three sales listed above, only one home owner gave closing cost help.  Looking at the six month average seller subsidy, it is slightly lower than the twelve month average seller subsidy.  That could indicate that buyers are asking for less.  However, the troubling stat is seeing that the six month median seller subsidy is $3,750 vs. zero in the twelve month median.  That means more than half of Braemar Courtyard home sellers have given something in closing cost help in the more recent sales.

When it comes to days on market, it is not a surprise to see the six month average marketing time has decreased compared to the twelve month average.  Meanwhile the six month median is still at four days, just like the twelve month median.  This means that Braemar Courtyard homes are selling super fast.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in less than a week.  You could also expect to pay about 1% of the sales price, or slightly less, in seller subsidy.

The next Braemar Property Value Report will be out in November.  Until then, if you want to take advantage of our peaking market and these high sales prices, give me a call.  Even in a seller’s market, professional marketing with an experienced agent is going to find you netting the absolute max the market will bear.  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: July-August 2020 (Carriage Series)

Braemar Property Value Report: July-August 2020 (Carriage Series)

 

It won’t be long before we see a brilliant display of fall foliage and I am looking forward to it.  This summer has been one of the most hectic I have ever experienced as a Bristow Real Estate Agent.  And unfortunately for buyers, I don’t think the fall market is going to ease up the demand or lack of supply.

Right now it is time for another Braemar Property Value Report, featuring sales of Carriage Homes in our neighborhood for the months July and August.  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.

There were three Braemar Carriage homes that sold during the months of July and August.  Details of those sales are listed below:

Taking these three sales and combining them with the rolling twelve months of previous Carriage home sales in Braemar, our six and twelve month data points are updated as reflected below:

Starting with the most important column to Braemar Carriage home owners, the sold price column, we see that both the six month average and six month median sold prices are well above the twelve month average and median sold prices.  This means that Braemar Carriage homes are continuing to increase in value.  Not surprising.  Out of the two homes that sold in in July and August, I had two buyers that competed in multiple offer scenarios, making healthy offers, and lost.  That kind of competition is what is driving these values up.

In the seller subsidy column we get to see how much closing cost help sellers are agreeing to give buyers.  The six month average seller subsidy has shrunk by more than half of the twelve month average seller subsidy.  Mean, the six month median seller subsidy has zeroed out compared to the $5,000 twelve month median seller subsidy.  And even looking at the details of the current reporting period’s sales we see that not one Braemar Carriage home seller had to give any seller subsidy.  In those intense multiple offer scenarios, closing cost help is an ask that buyers are learning to forego.

Finally, when it comes to days on market, I am bit surprised to see that the six month average marketing time was two days longer than the twelve month average marketing time.  Clearly not a value in the most recent sales throwing that number off, but good to know that even in the seller’s market we have been experiencing for many months now, you can over price a home or have it presented poorly to the market and linger while others are snatched up immediately.  Meanwhile, the six month median marketing time is half of what it was in the twelve month median.  That is more what I would expect to see.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in less than a week.  You could also expect that you would not have to give anything in seller subsidy.

The next Braemar Property Value Report will be out in November.  Until then, if you are interested in selling your home while values are reaching their peak, give me a call for the most accurate market analysis and top notch marketing that has not slacked at all during these seller conditions.  I understand that the better the first impression, the more money you will make in your home sale.  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: July-August 2020 (Arista Series)

Braemar Property Value Report: July-August 2020 (Arista Series)

The chill of fall is in the air and reminding me why I love this time of year so much.  Brightly colored leaves will be a welcome sight next month.  Unfortunately for buyers, it seems the coming of fall doesn’t seem to have lightened demand for housing.

Right now, it is time for another Braemar Property Value Report, detailing sales of homes in the Arista Series.  Arista homes are the large single family homes built by Brookfield Homes in our neighborhood and are one of three models:  Arista, Buckingham or Canterbury.

During our current reporting period of July and August, there were four Arista homes that sold.  The details of those sales are listed below.

Combining these four sales with the entire previous twelve months of Arista home sales, back to June 2019, our updated six and twelve month value points are updated as seen below.

Starting with the sold price column, we see that both the six month average and six month median values are both higher than their respective twelve month values.  This means that Arista home values in Braemar continue to push upward.

The seller subsidy column is where we see how much closing cost help sellers are giving.  While the six month median and twelve month median values are identical, indicating no change, the six month average is slightly higher than the twelve month average.  As our market demand continues to increase prices and move homes quickly, buyers in upper price ranges may be struggling to afford every cost associated with buying them.  We see that half of the sellers in our current reporting period gave closing cost help, the other half gave none.

The last column shows us how long it has been taking to sell Braemar Arista homes.  Both the six month average and median marketing times are faster than their twelve month counterparts.  This means Braemar Arista homes are selling faster.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contract in about a week.  You could also expect you may have to give some closing cost.  Expect the worst, hope for the best.

The next Braemar Property Value Report will be out in November.  Until then, if you have been looking for the top of the market to sell your Braemar home, we are nearing that point.  We will only know we’ve hit the top when we start to see prices falling.  Now is an excellent time to sell.  Get in touch with me if you want to investigate 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

 

 

This Braemar Condo Just Sold for $305,000

This Braemar Condo Just Sold for $305,000

On July 24th (2020,) 12175 Caithness Circle in Braemar’s condos, Barrhill at Inverness Village, hit the market priced at $305,000.  It only took one day and one buyer for it to go under contract.  When you get the terms you want in the first offer, why wait?

What ended up being just as important as the sales price was having short contingency time frames and a two month post settlement occupancy agreement.  The short contingency time frames allowed the sellers to write offers on their next home with coinciding settlements contingency instead of a home sale contingency.  The rent back was their fall in the event they couldn’t get an offer accepted right away in this competitive market.

Since being under contract, the sellers (as buyers) have made about four offers on  homes.  Not one has been accepted, and not because they weren’t great offers.  The competition is fierce.  Buyers are willing to forego inspections and appraisals entirely.  It’s rough out there, hence the reason the post settlement occupancy was so important.

Today this one sold for full list price of $305,000.   And the former owners will be covered with their post settlement occupancy.

If the time to sell and buy in THIS market is around the corner for you, hiring an agent that understands how to protect your interests on the sale is just as important as hiring one that can show you property with short notice.  My clients the wealth of market experience I have accumulated over the years as a Top Producing Agent in the Bristow area.  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