Braemar Townhouse SOLD $31,000 Over List Price!!

12858 Wishing Well Way Sold for $425,000 on April 5, 2021

Braemar Townhouse SOLD $31,000 Over List Price!!

On February 26th (2021,) I had the pleasure of bringing 12858 Wishing Well Way to the market, listed for $394,000. Having been helping a couple make offers on Braemar townhouses, I knew the market was out of control with buyer demand. And I had already run comps on this townhouse when my buyers wanted to make an offer on 10123 Pale Rose Loop. That was listed for $380,000. That was an absurdly low list price and I knew it. And sure enough, the agent there said they received two dozen offers and my buyers’ offer at $390K with free rent back was the weakest offer.

By the time we listed 12858 Wishing Well, 10123 Pale Rose had sold for $422,500. Pale Rose had been a home with a lot of interior updates, the most grand being the kitchen. It was an interior unit with a deck and gorgeous main level hardwood floors. It also had updated bathrooms. My listing on Wishing Well was end unit with a new HVAC and updated laminate wood flooring on the main level and upper level hallway, with hardwood on the upper level staircase as a transition. It had no deck, original kitchen and bathrooms. I prepped my seller for an appraised value of $405,000 to $410,000 if we were lucky.

After four days on the market we had eleven offers. Turns out we didn’t need two dozen to hit really high offers. One bid $450,000, but didn’t waive appraisal. That meant it would sell for appraised value. One offered cash at $420,000, but had an outdated, illegible proof of funds and wanted inspection contingencies. My seller made it clear she didn’t want to go through inspections and haggle with repairs. And with a sunken driveway (actually, an elevated sidewalk due to tree roots pushing up the concrete) we eliminated every FHA and VA loan so that wouldn’t get flagged as a safety concern on appraisal. That left one stand out offer– $425,000 with no inspections, conventional loan with financing and appraisal contingencies, but with a $30,000 low appraisal guarantee. That meant if the townhouse only appraised for the list price, it would still sell for $424,000. It was as close to guaranteed money as you could get.

Even though the buyers had expressed their need of an appraisal, but had pre-negotiated the outcome of a low value, nothing was required of me. That doesn’t mean I didn’t still get the appraiser a package of comparable sales, the offers we had received and list of updates. (HVAC and flooring are definitely worth something.) The goal was to keep the buyer’s additional down payment to a minimum. Real estate transactions are best when both parties have a win. My seller was winning with the sales price. Time to help them out. Sure enough, I got it to appraise at the sales price.

Today, April 5th, this one at 12858 Wishing Well closed at $425,000. Higher than a mega new kitchen, updated bathrooms and deck on 10123 Pale Rose Loop. Woo-hoo!

Any agent can get you multiple offers on your home in a seller’s market. I will get you every penny the market will allow. Two times more offers doesn’t always mean more money. Who you hire matters. 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
www.ChrisAnnCleland.com

Braemar Townhouse Report: January-February 2021

Braemar Townhouse Report: January-February 2021

What a goregous day to bring you the final in the Braemar market report series. Spring is officially here. Of course, buyers in the Bristow market were already out in full force coming off the holiday season. The intense buyer demand our Braemar real estate market, and the surrounding areas, have been experiencing is getting more frenzied each week.

In this edition of the Braemar Townhouse Report, we’ll look back at the traditional townhouses that sold in January and February. Traditional townhouses, for the purposes of this report, count as three level townhouses with a back yard.

During the first two months of the year, there were ten Braemar townhouses that sold. The details of those sales are listed below:

The sold price of $335,000 is our floor, while $422,500 is our ceiling. There’s a wide range in between. Sold prices starting with four are becoming more common even as I type this report. Taking all ten of these sales and combining them with the entire past twelve months of Braemar townhouse sales, the six and twelve month value points in this report are updated as seen below:

Starting in the sold price column, we see healthy increases in both six month average and median sold prices compared to their respective twelve month values. Braemar townhouses are continuing to increase in value, as expected in a seller’s market where supply of homes can’t keep up with buyer demand.

The seller subsidy column shows us how much closing cost help buyers were able to negotiate from their Braemar townhouse sellers. To start, it is important to note that only Braemar townhouse seller in the ten sales listed above gave any closing help at all. The amount given was higher than the six and twelve month averages. Being that the six month average seller subsidy is less than the twelve month, it shows buyers have been having to reduce or forego closing cost help requests just to get under contract. The six month median and twelve median seller subsidy both being at zero tells us that in both time frames, more than half the sellers got nothing in closing cost help.

The last column is where we dig into days on market, or marketing time as I like to call it. A quick scan of the Braemar townhouse sales for January and February above show single digits down the line. The six month average marketing time is one day quicker than the twelve month average. Meanwhile, the six month and twelve month median marketing times are the same at four days. This means more than half the sellers in both time frames sold in four days or less.

If you placed your Braemar townhouse 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 find yourself in a multiple offer situation where buyers are offering over list and not asking for closing cost help. Some buyers are even able to waive every typical contingency.

The next Braemar Townhouse Report will out in May and will cover what’s happening right now in March and April. There’s no slowing of buyer demand on the horizon which makes this a great time for Braemar townhouse sellers to cash out. Question becomes, where will you live? I’m happy to give a no obligation consultation about what a sale of your Braemar townhouse would mean in the current market. Even in a seller’s market, where every home will sell, sellers can still leave money on the table. Hiring the best agent for the job is so important. 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
www.ChrisAnnCleland.com

Braemar Property Value Report: January-February 2021 (Ryan Homes)

Braemar Property Value Report: January-February 2021 (Ryan Homes)

It’s been a dreary, drizzly day in Braemar today. Nonetheless, the real estate market is ticking right along. I’ve talked to two potential Braemar sellers and shown property to a Bristow buyer in search of a townhouse today. Our market seems completely oblivious to passing events like weather and even the pandemic.

In this edition of the Braemar Property Value Report the focus is on resales of houses built by Ryan Homes in our neighborhood. Our reporting period for sales is the first two months of the year. Let’s get right to it.

There was one Ryan home that sold during our current reporting period. The details of that sale are detailed below:

At first glance, I find it odd that a home would sell for anything less than list price during this frenzied seller’s market. Especially a home that was only the market for six days. Nonetheless, it wasn’t that far off of its list price. Taking this sale and combining it with the entire past twelve months of Ryan Home sales, the six and twelve month data points in this report are updated as seen below:

Everything looks completely as I would expect seeing the six month average and six month median sold prices above their respective twelve month values. This means that Ryan Homes in Braemar are continuing to increase in value.

The seller subsidy column is where we see how much closing cost help buyers were able to negotiate from Ryan Homes sellers in Braemar. Not surprisingly, the six month average seller subsidy has decreased significantly from the twelve month average. Meanwhile the six month median is at zero…quite a change from the $4,000 twelve month media seller subsidy. Buyers are having to go with more seller favored terms in their offers to get accepted in multiple offer situations lately.

Days on market shows single digits down the line, five being the highest. No analysis needed. Ryan Homes are selling FAST.

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 a week. You could also expect multiple offers with buyers dropping many typical contingencies and seller subsidy requests in an effort to be chosen.

The next Braemar Property Value Report will be out in May. Until then, when the time comes to sell your Braemar home, find out what my unparalleled market knowledge and top notch marketing can do for you. Sadly, even in a seller’s market there are homeowners leaving money on the table. 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
www.ChrisAnnCleland.com

Braemar Property Value Report: January-February 2021 (NV Homes)

Braemar Property Value Report: January-February 2021 (NV Homes)

As usual, our transition from winter to spring has not been consistently in one direction. Warmer temperatures had us all ready to ditch our coats and shake off winter. Not so fast! Colder temperatures have arrived again. The one thing that has been consistently going in one direction is our Braemar real estate market. In this edition of the Braemar Property Value Report, I will examine the sales activity of houses built by NV Homes in our neighborhood during the months of January and February.

The first two months of the year yielded only one NV hgome sale in Braemar. The detail of that sale is listed below.

Taking this one sale and combining with the entire past twelve months of NV homes in Braemar, the six and twelve month data points are updated as reflected below:

Starting with the sold price column, it is great to see both the six month average and six month median sold prices higher than their respective twelve month values. This means NV homes in Braemar have been increasing in value. No surprise there from the seller’s market we have been experiencing.

In the seller subsidy column, I am surprised to see an increase in the amount of seller subsidy (closing cost help) from the twelve month average to six month average. In a seller’s market like ours, this is unusual. The six month median and twelve month median are more in line with what I expect to see in this market with intense buyer demand and limited inventory. More than half the sellers in both the six month and twelve month time frames gave nothing in closing cost help.

Days on market is also a column where we see unusual trends, inconsistent with a seller’s market. The six month average and six month median marketing times are higher than their respective twelve month values. Apparently there have been some NV homes that have lingered a little longer on the market . It certainly wasn’t the sale from this reporting period, which sold in four days.

If you placed your NV home on the market, priced to current conditions, you could expect it to be under contract in about a week. You could also expect to give nothing in seller subsidy as buyers compete to win your home in multiple offer situations.

The next Braemar Property Value Report will be out in May. Until then, if you are interested in selling your NV home, get in touch with me for a free consultation. It may be a seller’s market, you can still leave money on the table. My professional marketing and unparalleled market knowledge will create the buyer enthusiasm needed to squeeze the absolute maximum out of 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
www.ChrisAnnCleland.com

Braemar Property Value Report: January-February 2021 (Heritage Series)

Braemar Property Value Report: January-February 2021 (Heritage Series)

Despite a little cooler temperatures today, it has been very pleasant outside. Having been out showing property all day, I can tell you that even more buyers are entering the market place as we thaw from winter to spring. Hopefully more sellers will too. In this edition of the Braemar Property Value Report we’ll look back at the activity from January and February and see how Heritage homes have been impacted by our frenzied seller’s market. 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.

In the first two months of the year, there were three Braemar Heritage homes that sold. The details of their sales are listed below.

Seeing a Yardley sold price get close to $600,000 is definitely something that is surprising. Seeing that same home selling for $26,000 over list price is not unusual in the current market. Buyer demand is so high that getting offers well over list price is becoming commonplace.

Taking the three sales from our current reporting period and combining them with the entire past twelve months of Heritage home sales, the six and twelve month data points update as seen below.

Starting with the sold price column, we find the six month average sold price is substantially higher than the twelve month average sold price. The six month median sold price is also higher than the twelve month median sold price. This means Braemar Heritage homes are continuing to increase in value in this seller’s market.

The seller subsidy column shows us how much closing cost assistance buyers were able to negotiate from their Braemar Heritage home sellers. The six month average seller subsidy is about thirty percent of the twelve month average seller subsidy. Meanwhile, it is not surprising to see that in the six and twelve month median values big fat zeros. That means more than half of the Braemar Heritage home sellers in both time frames gave absolutely nothing in closing cost help. Seller subsidy is a tough request when a buyer is faced with a multiple offer scenario.

Days on market shows single digits down the line. The six month average marketing time is half what the twelve month average marketing time was. The six and twelve month median marketing times are identical at five days. Homes are getting under contract fast!

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect it to be under contract in four or five days. You could also expect multiple offers, thus making seller subsidy requests unlikely.

The next Braemar Property Value Report will be out in May. Until then, if you want to investigate the sale of your Braemar home in this seller’s market, get in touch with me for a free consultation. Just because homes are selling fast doesn’t mean all sellers are getting the maximum the market will allow. Buyer enthusiasm is what creates the momentum to go higher and with better terms. That starts with professional marketing and my unparalleled knowledge of the neighborhood. 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
www.ChrisAnnCleland.com

Braemar Property Value Report: January-February 2021 (Courtyard Series)

Braemar Property Value Report: January-February 2021 (Courtyard Series)

It is an eerily quiet, cloudy and still Friday midday in Braemar right now. While our weather may be calm, our real estate is the exact opposite. As we go through this latest edition of the Braemar Property Value Report, focused on the Courtyard Series, you will be able to see what high buyer demand and low inventory has meant to home values. (Note: Braemar Courtyard homes 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.)

In our current reporting period of January and February 2021, there were two Braemar Courtyard homes that sold. The details of those sales are listed below.

For the first time in a very long time, we have a Braemar Courtyard home with a sold price beginning with a five. We have some time before we will hit the all time record of $560,000 for a four bedroom Arlington model set at the beginning of 2006, but if demand keeps up the way it has been lately, it wouldn’t surprise me if we get close to it by the end of the year.

Taking those two sales and combining them with the entire past twelve months of Courtyard home sales, our six and twelve month data points are updated as seen below.

Beginning with the sold price column, we see that both the six month average and six month median sold prices are higher than their respective twelve month values. This shows the continued upward push of Braemar Courtyard home values. It’s not as steep a climb as I have been noticing in other types of homes, but it is movement in a great direction if you have been thinking a home sale may be in your near future.

Seller subsidy denotes how much closing cost help sellers agreed to give buyers as part of their contract. The six month average and six month median are showing zero. The twelve month median being zero means that more than the half the Braemar Courtyard home sellers during that time frame gave no seller subsidy. The twelve month average being slightly over two-thousand dollars is a lot lower average for that time period than we have seen in reports past.

Days on market shows single digits down the line. The six month average marketing time actually increased by one day compared to the twelve month average. However, the six month and twelve month median values are identical at five days. Braemar Courtyard homes are selling quickly.

If you put your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in a week or less. You could also expect to be engaged by buyers willing to let go of seller subsidy requests just to get under contract. This competitive market has made closing cost help a luxury few get.

The next Braemar Property Value Report will be out in May. Until then, if you have been thinking of selling your Courtyard home, I would love to show you how I am able to elevate buyer enthusiasm for your home to get you even more money than you thought the market would allow. Get in touch with me for a free, no obligation 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
www.ChrisAnnCleland.com

Braemar Property Value Report: January-February 2021 (Carriage Series)

Braemar Property Value Report: January-February 2021 (Carriage Series)

Have you been wondering what your Braemar Carraige home may be worth in the 2021 seller’s market? If so, this is exactly where you need to be. Welcome to another edition of the Braemar Property Value Report focusing on Carriage homes in our neighborhood. For those unfamiliar, 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.

During the first two months of 2021, there were two Braemar Carriage homes that sold. Both were the smallest model of Carriage home available, the Maplewood. Nonetheless, when you see the details of the sale below, your jaw may fall open.

These are record high sold prices for Maplewood Carriage homes. And I can assure you, there is no home sold right now that isn’t capable of breaking a record. Buyer demand is out of control and our supply is very limited.

Taking the sales from January and February, and combining them with the sales from March 2020 to the end of 2020, we have an entire twelve months of Braemar Carriage home sales data. From that, the six and twelve month data points are updated as seen below.

Starting in the sold column, you notice that both the six month average and six month median sold prices are higher than their respective twelve month values. Braemar Carriage homes are a hot commodity, particularly as larger single family homes are ceasing to be affordable to many buyers.

In the seller subsidy column we learn how much closing cost help sellers agreed to give buyers. The six month average seller subsidy is incredibly low compared to the twelve month average seller subsidy. Meanwhile, more than half of the Braemar Carriage home sellers in both time frames gave absolutely nothing in closing cost help. To get their offers accepted in intense multiple offer situations, buyers are having to waive these requests and in more and more cases, many contingencies.

Days on market brings no surprises considering the fast pace of our current market. The six month average marketing time is half what it was in the twelve month average. In agreement, the six month and twelve month median values show four days of marketing time.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in four to five days. You could also expect to give nothing in seller subsidy.

The next Braemar Property Value Report will be out in May. Until then, if you have been considering the sale of your Braemar Carriage home, being in a seller’s market is not enough to guarantee the next highest sold price. Professional marketing, no matter the market is what it takes to create the buyer enthusiasm that pushes you to the absolute max the market will bear. Get in touch with me for a no obligation consultation on what a sale in 2021 could 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
www.ChrisAnnCleland.com

Braemar Property Value Report: January-February 2021 (Arista Series)

Braemar Property Value Report: January-February 2021 (Arista Series)

The new year in the Braemar real estate market was like flood gates opening. In this edition of the Braemar Property Value Report, detailing sales of the Arista Series homes, you will see for yourself what I mean. Braemar Arista homes include the Allister, Buckingham and Canterbury models by Brookfield Homes.

There were two Braemar Arista homes that closed in the first two months of the year. The sales prices are detailed below.

For starters, it is amazing to see both sold prices starting with a seven. It’s been a long time since that was common place. The flood of buyers is what has these two homes selling so high above their list prices. We are now in a market where buyers are waiving every conceivable contingency, including appraisal, just to secure a home. And the exercise of waiving appraisal is what makes our properties worth more money because these sales become comps for future sales.

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

The sold price column shows incredible increases in the six month average and six month median above their respective twelve month values. Our market is experiencing a frenzy that is raising values very rapidly. Braemar home values are likely peaking this year.

Seller subsidy (closing cost assistance to buyers) is becoming extinct. You have to go to the twelve month average seller subsidy to even see a value higher than zero. In order to win in intense multiple offer situations, buyers are having to waive many things that used to be customary requests. Seller subsidy is one those.

Days on market is an unbelievable one day in both the six month average and median value. The highest value we have on this table is twelve days. Clearly, it is a remarkable time for sellers.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect to be under contract very quickly after multiple offers. You could also expect to give nothing in seller subsidy. You are also likely to have buyers needing no contingencies at all.

The next Braemar Property Value Report will be out in May. Until then, if you want to make the absolute max the market has to offer, professional marketing and neighborhood knowledge is going to get you even higher prices. Get in touch with me for a no obligation 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
www.ChrisAnnCleland.com

Braemar Townhouse Under Contract in Four Days

12858 Wishing Well Way Listed for $394,000 on February 26, 2021

Braemar Townhouse Under Contract in Four Days

On February 26th (2021) this Braemar townhouse located at 12858 Wishing Well Way listed for $394,000. Having been listing as a Coming Soon listing for nearly a week prior, I knew there was strong interest. Our showing appointments filled up rather quickly. Add professional photos on listing day and the demand went through the roof.

As a Top Braemar Real Estate Agent, I have been keeping a close eye on what is happening in the market. In representing buyers that made an offer on a Braemar garage townhouse last month, I know just how insane the buyer demand is right now. Even a reasonable list price will get bid out of control. Low list prices are completely unnecessary.

The final tally of showings at 12858 Wishing Well after four days on the market was sixty-five. The final number of offers was eleven. Out of those offers, only a few that reached for the top shelf prices could back it up without appraisal contingencies or with low appraisal guarantees. And once offers dropping contingencies like appraisal and home inspection were pulled aside, the pool of buyers that interested the seller shrunk to four.

Your Braemar townhouse may never be worth more than it will be this year. If you have wondered what selling your Braemar townhouse may mean to your bottom line, and what your prospects for future housing would be, I would be happy to provide a no obligation 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
www.ChrisAnnCleland.com

Coming Soon: Braemar End Unit, Garage Townhouse

12858 Wishing Well Way is listed for $394,000 and will be available February 26, 2021

Coming Soon: Braemar End Unit, Garage Townhouse

If what I am hearing on the streets is true, there are going to a lot of buyers anxious to see and make offers on this end unit, garage townhouse in Braemar. Rumor has it the neighbor directly across the street, listed for $414,900 had over fifty offers in four days! Meanwhile, I had buyers that were one of twenty-four on a multiple offer pile up on Pale Rose Loop in early February. It’s one of the reasons we are letting you know NOW about this townhouse coming up on Friday for sale in our neighborhood.

The list price for 12858 Wishing Well Way will $394,000. It has water resistant laminate wood flooring on the main level, which has modernized it a lot. The kitchen, still original in finishes, can use your updating to take the modernization even further. For now, it has an island and ample counter and cabinet space to make it a very useful kitchen. You will, however, have to bring your own microwave.

The open floor plan gives a lot of versatility in how you choose to arrange your furnishings. Maybe you want the dining room on the fireplace side of the kitchen and a living room in the front. Maybe the reverse. Maybe a home office across from the kitchen, a small eat-in area by the sliding doors and the living room in front. Whatever you do, you will be able to see it all from the kitchen.

One thing you won’t have to update is the HVAC. It was replaced entirely in 2020.

Upper level owner’s suite has an attached bathroom with jetted tub and separate shower. The flooring in both upper level bathrooms is tile. Second and third bedrooms have hallway access to the second bathroom with a tub/shower combo.

The basement provides a nice size recreation space and an additional powder room. Basement is also where you find the laundry room.

Being an end unit, this townhouse benefits from more lighting than the interior models. It is also just around the corner from additional visitor parking spaces and about two neighborhood blocks to community amenities. Tennis, basketball, playground (with volleyball court) and swimming pool are all very close by.

Schedule your appointment for this one today. Showings will be limited to thirty minute increments and there are restricted showing times at the owner’s request. If you want to see it, don’t wait until the last minute. Professional photos won’t be up until the day it goes active in the MLS.

If you don’t have and an agent and want to see this home, get in touch with me. While I do not represent both sides of any transaction, I can put you in touch with a top notch buyer’s agent to assist you.

Chris Ann Cleland 
Associate Broker, Licensed in VA
Long & Foster Real Estate
703-402-0037, ChrisAnn@LNF.com
www.SellingBraemar.com
www.UncompromisingValues.com
www.ChrisAnnCleland.com