Helping a Buyer Move Up to a Larger Braemar Home
Yesterday I told you about a home I sold on Kirkmichael Terrace. Turns out those sellers also wanted to buy in the Bristow/Gainesville area. We started house hunting in June. In fact, we started looking at homes before we listed theirs. There was one particular home that really caught their eye in Morris Farm, but after seeing several others from Virginia Oaks to New Bristow Village, that first one in Morris Farm fell right off the cue.
When it came time to make offers, things were tough. Their home on Kirkmichael Terrace was not yet under contract. Their first offer was on a different Braemar home and those sellers weren’t interested in a home sale contingency. By the time my buyers had their home on Kirkmichael under contract, they were no longer interested in pursuing that first Braemar home. They tried one other in New Bristow Village which had been at the top of their list, but again, a foolish seller didn’t think they would be qualified to purchase. Nevermind that a top producing lender in the market had done the pre-approval letter. Both of those sellers’ loss was the seller at Kinloss Mews’ gain.
I remember seeing 9742 Kinloss Mews hit the market in April at $629,500 and thinking it was overpriced. Wasn’t my listing, so I paid it little attention. Slowly it came down to $614,900 and, after my feedback from my showing with these buyers, it dropped to $599,900.
As a Top Braemar Real Estate Agent I knew there was one, possibly two, issues that were keeping buyers from eating up this fantastic Canterbury model. The first potential issue were the double power transmission lines that buyers were passing on the way to the property. I’ve seen many an interested buyer lose interest when they see those metal giants soaring above with the high voltage cables. The second issue was probably the bigger problem.
Kinloss Mews is situated at the corner of Tartan Hills Parkway at a dead end that is cued up and ready in the long term plan of Prince William County, to be cut through to a future development off of Pioneer Drive. The current political climate has shot down efforts to develop a community there, but with a state route number already on the books for Pioneer Drive, a handful of lots already owned by Brookfield Homes, and a structure marked to be saved as historic, well….the writing is on the wall. A development is likely to happen, but who knows how far out in the future. My buyers had all this information in hand, as well as the telephone line easement between them and what will eventually be a development. After much research and realization that this home would be worth more at the end of a wooded cul-de-sac, they made an offer and got under contract. They were getting a bargain.
My very lucky buyers got this home for $600,000 and got $10,000 in closing cost help. Their home inspector had a special infrared camera that found a new roof leak that ended up being fixed prior to settlement.
If you had told me in April that I would end up selling this Canterbury on Kinloss Mews to my buyers for $600,000 I would have thought you were nuts. Sure, I thought it was over priced at $629,500, but I figured someone would jump at $615,000. That’s the danger of overpricing your home, even in a seller’s market. Buyers know you are overpriced and by the time you right it, buyers then wonder why you have been on the market so long and want to take you even further down.
Price right from the get go and hire an agent that knows the factors that may affect your Braemar home’s value. My job as a listing agent is to get the most money for your home. As a buyer’s agent, my job is to get the best deal for my buyer. Want me on your side? Give me a call. Since 2005, No One Knows Braemar Better!
Chris Ann Cleland
Associate Broker-Licensed in VA
Long & Foster Real Estate