About cacleland

Chris Ann Cleland is an Associate Broker with Long & Foster REALTORS® in Manassas, VA. She specializes in listing residential property, and helping buyers find the right home, in the areas of Bristow, Gainesville and Haymarket. As a Braemar resident, she has a special knowledge of the homes in that particular community. In fact, Chris Ann has been tracking Braemar home values since 2005.

Braemar Townhouse Report: January-February 2020

Braemar Townhouse Report: January-February 2020

While this is the last of my Braemar Property Reports, it is certainly not the last of my days of self-isolation thanks to COVID-19.  It has been unsettling to see empty store shelves and empty restaurant and gym parking lots when I am out on the rare day I need to run an errand. Still, as a daughter of an 88 year old mother with COPD, I am grateful to all that are doing their best to stay inside and practice social distancing.  It may not feel like you are making a difference, but you are.

Now to my specialty, presenting you with another Braemar Townhouse Report.  Townhouses, for the purposes of this report, are traditional townhouses with three levels and a back yard.  They may or may not have a garage.

There were eight Braemar townhouses that sold during our current reporting of January and February 2020.  Final sold prices ranged from $305,000 to $376,000.  The details of the sales are listed below:

Taking these eight sales and combining them with the entire last twelve months of Braemar townhouse sales, our six and twelve month data points are updated as follows:

Starting with the sold price column, it is great to see that both the six month average and six month median are above their respective twelve month values.  This means Braemar townhouses are still pushing up in value.

The seller subsidy column shows a trend not favoring sellers.  Both the six month average and six month median seller subsidy values are higher than their respective twelve month counterparts.  This means that Braemar buyers have been asking for, and receiving, more closing cost help.  However, according to our most recent sales listed above, half of Braemar townhouse sellers aren’t having to give any closing cost help.

In the days on market column, we see a bit of conflicting information.  The six month average marketing time is five days shorter than the twelve month average marketing time.  Meanwhile the six month median marketing time is 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 it to be under contract in no longer than two weeks.  You could also expect to pay an average of 1.5% of the sales price in seller subsidy.

This report would not be complete this particular go round without answering the big question on most prospective Braemar townhouse sellers’ minds.  Will the precautions taken to prevent the spread of COVID-19 affect our Braemar real estate market?  It would be foolish to think there wouldn’t be some sort of impact, but I don’t think it will be as noticeable.  Even before this virus, our supply of townhouses for sale was not enough to meet demand.  Surely, some buyers and sellers will pull out of the market for economical reasons or reasons of general fear.  However, there is still a big influence on our market demand.  The expansion of Micron in Manassas is adding thousands of jobs to our local area.  More jobs than Amazon brought to Virginia.  Relocating workers will need housing and they are buying in all kinds of price ranges.  And even during these times when we are to shelter in place, our Governor understand that real estate is an essential business.  I have been busy taking new listings and helping buyers these last couple weeks.

The next Braemar Townhouse Report will be out in May.  Until then, if the need or want to sell your Braemar townhouse arises, get in touch with me for the most thorough analysis of your home’s value and the most professional approach to marketing your home.  No matter the market condition, I am here to help you maximize your home’s value.  Since 2005, No One Knows Braemar Better!

 

 

Braemar Property Value Report: January-February 2020 (Ryan Homes)

Braemar Property Value Report: January-February 2020 (Ryan Homes)

Another day in self-isolation, another Braemar Property Value Report to share with my fellow Braemar home owners.  No matter what is happening in our market, this Top Braemar Real Estate Agent is on the job.  This particular report focuses on property values of single family homes built by Ryan Homes in our neighborhood.  Let’s get to it.

Despite the fact that there were no Ryan Homes sold in the first two months of 2020, our current reporting period, the six and twelve month data points did get recast when the sales from January and February 2019 fell off and the six and twelve month markers shifted.  The latest value points are listed below.

In the sold column we have conflicting information.  The six month average sold price has fallen below the twelve month average sold price.  That would normally mean decreasing values.  However, the six month median sold price is above the twelve month median sold price.  That would normally mean increasing values.  We’ll have to wait and see what the next report brings.

The seller subsidy column, meanwhile, shows a definitive trend.  Both the six month average and six month median values are below their respective twelve month values.  This means that  in our competitive market place, where buyers are often competing for fewer homes, buyers are foregoing large closing cost requests, or not requesting closing cost help at all, to get under contract. Will this continue?  There is plenty demand despite the pandemic we are experiencing, but more on that later.

Days on market is a bit troubling.  Both the six month average and six month median marketing times are much higher than their twelve month respective values.  This means it has been taking longer to sell Ryan Homes.  Our next report should clear up what’s going on there.  It doesn’t match with what I’ve personally experienced as a Braemar Listing Agent in recent history.

If you placed your Ryan Home on the market, priced to current conditions, this report indicates you could expect it to be under contract in an average of about sixty days, maybe more.  You could also expect to give less than 1% of the sales price in closing cost help.

How will the unprecedented precautions being taken to prevent the spread of COVID-19 affect our real estate market?  It is hard to tell, but from where I sit as a full-time Bristow Real Estate Agent, I am still taking listings and helping buyers.  Properties are still going under contract.  Remember, there is a large demand for housing in our area thanks to the expansion of Micron in Manassas.  That expansion is adding more jobs in our back yard than Amazon relocating to Arlington did to our state.  Of course, we’ve already seen many Micron employees relocating here since the close of their Utah plant.   Some buyers and sellers not needing to be in the market at this time may pull back from fear, but we still have plenty of people relocating into the area, and enough relocating out of the area, to keep our market going.

If you find yourself needing to sell during this time, it has never been more important to work with a full-time, experienced professional who is in business in good times and uncertain times.  I’m here for you whenever the need arises.  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: January-February 2020 (NV Homes)

Braemar Property Value Report: January-February 2020 (NV Homes)

It is time for another Braemar Property Value Report.  As the social distancing that has been happening for over a week is beginning to wear on us, I am thankful to have tasks like this to do.  These reports have been part of my bi-monthly routine since the middle of 2005.  This particular report focuses on property values of single family homes built by NV Homes in Braemar.

There were two NV Homes that sold in the first two months of 2020.  The details of those sales are listed below.

Taking these two sales and adding them to the entire past twelve months of NV Home sale data, our six and twelve month data points are updated as seen below.

Looking first at the sold price column, it is good to see the six month average sold price higher than the twelve month average sold price.  In a conflicting trend, we see that the six month median sold price is lower than the twelve month median.   Hard to say which way values are heading.  Our most recent sales have a wide price gap at $561,500 and $651,000.  We will have to wait and see where we go next report.

The seller subsidy column shows a definite trend.  Both the six month average and six month median sold prices are well below their respective twelve month values.  This means that buyers have been foregoing or limiting requests for closing cost help from sellers in the competitive market that buyers are facing.

Days on market shows very stable average marketing times in the six month value compared to the twelve month value.  Just under two weeks to get an NV Home under contract in both.  Meanwhile, the six month median marketing time is half the already low twelve month marketing time of eight days.  NV Homes are selling quickly.

If you placed your Braemar NV Home on the market, priced to current conditions, you could expect it would take no more than two weeks to go under contract.  You could also expect to pay minimal amounts of seller subsidy, if any.

Will the pandemic we are facing of COVID-19 affect our Braemar real estate market?  Perhaps in the very short term, but likely not as bad as you may think.  Fearful buyers and sellers that do not have to relocate may pull back and put off their real estate plans.  However, there are plenty of buyers coming to our market with the expansion of Micron in Manassas.  Did you know that Micron’s expansion is bringing more jobs to our local area than Amazon’s move to Virginia did to the entire area?  Buyer demand will continue to be there for any seller wanting, or needing to capitalize.

One thing that will change is mortgage interest rates.  We are seeing them begin to increase.  The reason being that mortgage rates are based on the value of ten year treasury bonds.  Whenever a Federal government bailout happens, it is money being borrowed against those ten year treasury bonds, raising mortgage interest rates.  The good news for the market in general is that mortgage interest rates had been so low anyway, it won’t be so damaging.

The next Braemar Property Value Report will be out in May.  By then we will know what affect COVID-19 has had on our market in the months of March and April.  Until then, if the need arises for you to sell, give me a call.  No matter the market condition, I am here to help you maximize your Braemar home’s value.  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: January-February 2020 (Heritage Series)

Braemar Property Value Report: January-February 2020 (Heritage Series)

Another day of self-isolation presents another fantastic opportunity to present another Braemar Property Value Report.  Of course, whether we are living in times of self-isolation or business as usual, this Top Braemar Real Estate Agent strives to get these reports to you every other month to keep you apprised of your Braemar home values.

Today’s report is focused on Heritage homes in Braemar.  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.

There were five Heritage homes that sold during the current reporting period of January and February.  The details of those five sales are listed below:

Taking these five sales and adding them to the entire past twelve months of Braemar Heritage home sales, our updated six and twelve month data points are updated as shown below.

Looking first at the sold price column, we see a slight dip in both the six month average and median sold prices when compared to their twelve month respective values.  What gives me a bit of hope that this is not a trend is seeing that four of the five most recent sales are above both the six month values represented in the table.

Seller subsidy (closing cost help to buyers,) is trending up in the six month average and median values compared to their twelve month counterparts.  However, looking at the five most recent sales, two of the five gave no seller subsidy and one gave a lower amount to suggest it may have been a repair credit.  The remaining two gave very large amounts of seller subsidy.  These seller subsidy figures in our six month average and six month median values are still a lot lower than they could be.

Days on market shows increasing marketing times in the six month average and median values compared to their twelve month respective values.  And when looking to the five sales above, I am baffled by the thee sales above with 87 days to 140 days marketing time.  They were all regular sales, not foreclosures or short sales. They hit the market between July and September and all lowered their list prices before going under contract.  Someone unfamiliar with our market may look at these and think that the market is beginning to crash.  My experience as a Top Braemar Real Estate Agent gives me evidence over and over that marketing times like this should not be…at least not when you price your property correctly and marketing it professionally.  My most recent experience with a Braemar Heritage home at 12157 Millbill Court, backing to Linton Hall Road, was that my sellers got multiple offers during a few days on market.

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect it to be under contract in about a month.  You could also expect to pay under 1% of the sales price, on average, in seller subsidy.

A note about the current market in the age of COVID-19 is in order.  What we are living through in terms of crisis management to this pandemic is unprecedented.  And despite the fear of the known and unknown in this time, sellers are still putting their homes on the market and buyers are still looking for homes.  It is important to remember that our local market is experiencing tremendous demand, and will continue to, as a result of the Micron expansion in Manassas.  It is bringing more jobs to our local area than Amazon did!

The next Braemar Property Value Report will be out in May.  Until then, when the need or desire to sell arises, give me a call for the most thorough market analysis of our market and your home’s value in it.  My professional marketing will get you the most money for your home no matter what the 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

 

 

Braemar Property Value Report: January-February 2020 (Courtyard Series)

Braemar Property Value Report: January-February 2020 (Courtyard Series)

During this time of self-isolation, putting together my bi-monthly Braemar Property Value Reports is bringing me a sense of normalcy.  Even while there is not a lot of foot traffic in stores, restaurants are closed and traffic is minimal, there is still real estate business happening in the background.

This particular Braemar Property Value Report pertains to the Courytard homes in our neighborhood.  If 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 no Courtyard homes sold in Braemar during our current reporting period of January and February.  That doesn’t mean we don’t have updated six and twelve month data.  By simply dropping the months of January and Feburary 2019 and refactoring the numbers, I get the updated values below.

Looking first to the sold price column, we see a drop in value in both the six month average compared to the twelve month average, as well as the six month median from the twelve month median.  If no new sales bring up values in the coming months, this is not a good sign.  And with economic and safety concerns of COVID-19, who knows what our market is going to be facing.  We do know that Micron adding 8,000 to Manassas has been, and will continue to be, a major market force.

The seller subsidy column shows a better trend than the sales price column.  Both the six month average and six month median values were below their twelve month counterparts.  This means that buyers were having to lower or not request closing cost help to get their offers accepted in the times we were experiencing of limited inventory.

Finally, days on market shows that marketing time has gone up in the six month values compared to their respective twelve month values.  We’ll have to see what happens as market lives through COVID-19 and beyond.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to take no more than one month to get under contract.  You could also expect to may about one half of 1% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in May.  By then we will be well into whatever COVID-19 is going to bring to our area.  Given the low interest rates and expansion of Micron, I suspect our demand will remain strong.  If you find yourself in a position to sell, give me a call for a free analysis.  No matter what, I’m here to help you maximize your Braemar home’s 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 Property Value Report: January-February 2020 (Carriage Series)

Braemar Property Value Report: January-February 2020 (Carriage Series)

Come rain, sleet, snow or quarantine for a virus epidemic, this Top Braemar Real Estate Agent is here to bring you the latest information on our neighborhood real estate market in my Braemar Property Value Reports.  Today’s report focuses on Carriage homes  which 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.

Looking back to the first two months of the year, there were two Braemar Carriage homes that sold.  Both were Oakdale models and there wasn’t much of a difference in their final sold prices.  Details of both sales are listed below:

Taking the most recent sales data and adding it to the last twelve months of Carriage home sales in Braemar, our six and twelve month data points are updated.  This is where we get a glimpse at what changes are happening in our market.

Looking first at the sold price column, it is great need to see both the six month average and six month median sold prices above their twelve month counterparts.  That means that Braemar Carriage homes have continued to rise in value.  With the demand that our market is still experiencing, I suspect this won’t be the last tick up in value.  The virus epidemic may impact our demand a bit, but I think the worst we will see in the short term is a leveling off of values.

The seller subsidy column reveals a trend that is definite, but certainly not one that favors would-be Braemar Carriage home sellers.  Both the six month average and six month median seller subsidy is higher than their respective twelve month values.  This means Braemar Carriage home sellers are giving more closing cost help to their buyers.

Days on market gives us conflicting information.  The six month average marketing time is three days shorter than the twelve month average marketing time.  Meanwhile, the six month median marketing time is two days longer than the twelve month marketing time.  Neither is a big change, so it seems that the marketing time of a Braemar Carriage home is holding steady.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in about two weeks.  Is that true during the time of quarantine?  Time will tell.  There is still massive buyer demand in our market thanks to the expansion of Micron in Manassas.  As for seller subsidy, you could expect to give nearly 2% of the sales price in closing cost help to your buyer.

The next Braemar Property Value Report will be out in May.  Hopefully, our daily lives will be back to normal by then, or at least nearing normal.  The important thing is to try to protect our communities by remaining distanced until this virus gets under control.  In the meantime, if you have any questions about our real estate market, or what a sale might look like for you in the near future, don’t hesitate to reach out.  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: January-February 2020 (Arista Series)

Braemar Property Value Report: January-February 2020 (Arista Series)

As I find myself practicing social distancing to protect myself, and the community at large, from the spread of COVID-19, I have plenty of Braemar Property Value Reports to keep me busy.  Today I am going to kick off the string of property value reports with this one for the Arista Series homes in Braemar.  Homes known as Arista homes are the largest homes in Braemar built by Brookfield Homes.  The floor plans include the Allister, Buckingham and Canterbury.  The most commonly seen of these floor plans in Braemar is the Canterbury.

During the reporting period of January and Febuary 2020, there were no Arista homes that sold.  No new sales doesn’t mean we don’t have updated values.  With a twelve month rolling store of data from Arista home sales in Braemar, I just freshen up the six and twelve month value points.  When I do, here’s what we get:

Looking first to property values, we see that the six month average sold price is well above the twelve month average sold price.  This would indicate Braemar Arista home values are definitely increasing in the more recent sales.  However, that is before we look at the six month median falling slightly below the twelve month median which would indicate that Braemar Arista home values are more stable in value.  With no new sales to compare to these two values, all I can tell you is that demand for single family homes in Braemar is still high.  Don’t panic.

When it comes to seller subsidy (also known as closing cost assistance to buyers,) there is a more clear trend.  Both the six month average and six month median values are well below their twelve month counterparts.  To win in this competitive market place, Braemar Arista home buyers are having to minimize seller subsidy requests to get their offers accepted by sellers, particularly in multiple offer situations.

Days on market reveals data that shows stability.  The six month average marketing time is a week shorter than the twelve month average marketing time.  However, the six month median marketing time is exactly the same as the twelve month marketing time.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contract in about three weeks time, maybe a bit more.  You could also expect to pay less than 1% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in May.  Until then, know that our area is experiencing very intense buyer demand.  If you have been considering the sale of your own Braemar home, now really could be the best time to sell.  Call me for a free consultation.  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