Braemar Property Value Report: September-October (Arista Series)

Braemar Property Value Report: September-October (Arista Series)

It’s a gorgeous autumn day in Braemar. The sun is streaming through the trees, becoming more and more bare with each passing day. It’s one of those days where you may opt for air conditioning during the day, but will need the heat at night. The change from warm to cold doesn’t happen all at once.

The kind of change monitored here in the Braemar Property Value Report is changes in the real estate market. In this particular report, the focus in on the Arista Series homes in Braemar, which are the largest of the single family homes built by Brookfield Homes in our neighborhood. Their floor plans are the Allister, Buckingham and Canterbury.

Looking back at the last two months of Arista home sales, we find only one that closed between September and October. The details of that sale are found below:

Obviously, no trend can be determined by looking at one sale, or even a handful. That’s why I take this sale and combine it with the entire past twelve months of Arista home sales and pull out the six and twelve month average and median values. That’s where we find trends.

Looking first at the sold price column, we see that the six month average sold price has fallen ever so slightly below the twelve month average. Meanwhile, the six month median sold price is exactly the same as the twelve month median sold price. No increase by leaps and bounds in the Arista homes. Values are stable.

Seller subsidy is where we get to find out how much closing cost assistance sellers gave to buyers. The bad news for would-be Arista home sellers is that we see increases in both six month values over their respective twelve month values. That means, despite the most recent sale where no seller subsidy was given, Braemar Arista home sellers have been giving more closing cost help in the more recent sales as a whole.

Marketing time, marked above as days on market, shows very little change. The six month average marketing time is exactly the same as the twelve month marketing time. The six month median marketing time improved by one day from an already low six days in the twelve month median. Braemar Arista homes are selling quite quickly.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contact in about two weeks, if not in under one week. You could also expect to give an average of 1% of the sales price, maybe less, in closing cost help.

The next Braemar Property Value Report will be out in January. Then, we’ll be able to see how we finished up the year. Despite popular opinion, the year end market is a very powerful one in which to list. If the time has come to sell, don’t feel you have to wait until spring. Get in touch with me for a free market analysis and discussion on what a year sale 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: 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

 

 

Braemar Property Value Report: May-June 2020 (Arista Series)

Braemar Property Value Report: May-June 2020 (Arista Series)

House hunting during July and August in Braemar can be brutal.  The heat and humidity can get to you, especially during a time when no overlapping showings can happen thanks to COVID.  I’ve been standing in the front lawns of quite a few area listings just waiting for my turn to show a property.  Couldn’t be happier than I am right now to be sitting in my air conditioned home typing this Braemar Property Value Update for Arista home owners in our neighborhood.  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.

There were three Braemar Arista homes that sold during our most recent reporting period, which encompasses May and June.  The details of those sales are listed below.

At first glance you notice that the middle sale is highlighted in a pink.  That’s because that is a listing that I sold.  And looking in comparison with the other sales, it seems my sellers made out very well.  They sold in a shorter period of time than the other sellers, paid no closing cost help and considering the only three finished levels without a secluded lot, they did very well on their price.

When we take these three sales from May and June and compare them with the entire past twelve months of Braemar Arista home sales, we get updated six and twelve month data points, as seen below.

Looking first at the sold price column, we see that both the six month average and six month median sold prices are higher than their twelve month counterparts.  This means Braemar Arista homes are continuing to push up in value in this crazy seller’s market.

Another trend we see in a seller’s market is decreasing seller subsidy, or as it is also know, closing cost assistance.  Yes, the trend is certainly favoring sellers.  Both the six month average and median seller subsidy values are less than their twelve month counterparts.  Sellers aren’t having to give as much in closing cost help as they were.

Finally, looking at days on market, another seller’s market trend is clear. Both the six month average and six month median marketing times are shorter than their twelve month respective values.  This means Braemar Arista homes are selling faster.  Though these higher price range homes do tend to take a bit longer to sell than less expensive and smaller homes.

If you placed your Braemar Arista home on the market, priced to current conditions, your could expect it to be under contract in no more than a month, possibly even less time than that.  You could also expect you may have to pay less than 1% of the sales price in closing cost help.

The next Braemar Property Value Report will be in out in September.  Until then, when the time comes to sell your Braemar home, give me a call for the most accurate evaluation of your home and a professional marketing plan that will maximize your profit.  Since 2005, No One Knows Braemar Better!

Chris Ann Clelan

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

 

Another Late June Day, Another Braemar Home Sold

Another Late June Day, Another Braemar Home Sold

Yesterday I wrote about the Braemar home I sold at 9658 Granary Place Today, I’m here to tell you about the Braemar home I sold at 9725 Kinloss Mews.  While 9725 Kinloss Mews listed before 9658 Granary Place, as one of the largest homes in the neighborhood, I expected it would take about two weeks for it to go under contract.  It hit the market on May 15th (2020) priced at $610,000.  Sure enough, fourteen days later, it was under contract.

While the initial offer left a lot to be desired, the sellers decided that rather than reduce their price to catch another buyer, they would make a counter offer to the buyers who had taken the time to express interest.  The buyers accepted.

While the pandemic didn’t really affect our real estate market, it has impacted some supporting industries.  HVAC repair and service is one of them.  At least, that’s what Beltway Air Comfort Service would have us believe.  They failed three times to get the right parts over the course of weeks and, the day before settlement took five and a half hours to get the parts installed.  Didn’t even give my sellers a receipt.  When Mrs. Seller called to get a copy, she was told off by the owner of Beltway Air Comfort Service.  The owner was mad that he had to eat a 3% charge normally charged to customers paying by credit card (nothing I’ve heard of from the HVAC companies I recommend) because it wasn’t disclosed before my seller left town with her checkbook.  She was going to mail a check, but THEY made the choice to eat the charge.  They did the right thing and then blew all the good will by telling her off.  Then they went on to tell her they would de-prioritize her anytime she called for future service.  Who does that?  Once again, Beltway Air Comfort Service.  Note it and call any other company to service your HVAC if you want decent, professional service that knows how to treat their customers.

Thank goodness that even crappy contractors can get the job done, and despite taking a long time, it was done before the buyers signed for the home on June 26th.  Whew!

The final sold price of this Canterbury was $600,000.

If you are considering the sale of your Braemar home, we are experiencing high buyer demand and very low inventory.  That means we are in a seller’s market.  Give me a call for a free market analysis and my professional marketing plan that will get you top dollar and do it safely.  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

 

Are Braemar Single Family Homes Even Selling During the Pandemic?

Are Braemar Single Family Homes Even Selling During the Pandemic?

The pandemic has definitely brought a lot of change and uncertainty to our lives.  You may wonder how it is affecting our Braemar real estate market.  Well, to answer that question, I am here to give you a tale of two Braemar homes.

On May 15th 9725 Kinloss Mews (pictured above) hit the market priced at $610,000.  The market didn’t immediately go nuts, but in this upper price range, I never expect it too.  However, the activity did build fairly quickly.  There were a total of 24 showings before they received an offer on May 27th.  The next day, they were under contract with mutually acceptable terms.  I expected two weeks to get under contract for this one and 13 days is right on target.

I didn’t even get a chance to tell you about 9658 Granary Place It hit the market as an active listing on May 26th priced at $485,000.  That price point for a single family home in Braemar was like throwing chum in shark infested waters.  It has two finished levels, an updated kitchen, bonus room in master suite and a blank slate to finish the walk up level basement.  It had 21 appointments in 2 days!!  Once we had 5 offers in hand, we flipped the listing to temporarily off the market to stop the insanity.  There are only so many buyers you need to disappoint when in a multiple offer situation.

Without a doubt, our Braemar real estate market is favoring sellers.  With the expansion of Micron in Manassas bringing thousands of jobs to our back yard, having the Federal government as our primary economic force and mortgage interest rates still at historic lows, there is no end in sight to these conditions.  If you want to sell your Braemar home, give me a call.  I’ll get you top dollar with my top notch marketing and keep you safe during showings with COVID precautions.  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: March-April 2020 (Arista Series)

Braemar Property Value Report: March-April 2020 (Arista Series)

Despite the shut downs still in place with the COVID pandemic, the Bristow real estate market is hopping.  Our home sellers and home buyers are lucky that our Governor considers real estate an essential business.

Right now, it is time for the Braemar Property Value Report that focuses on sales of Arista homes in our neighborhood.  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.

There was one Arista home that sold during our current reporting period of March and April 2020.  The details of that sale are listed below.

Taking this sale and combining it with the entire past twelve month’s of Arista home sales, our six and twelve month data points are updated as pictured below:

The great news, probably in large part to the outstanding sales price of $690,000 that our most recent sale pulled down, is that the six month average and median sold prices are well above the twelve month average and median sold prices.  That means Braemar Arista homes are still gaining value.

Better news for Braemar home sellers looking to hit the market soon is that the six month average and median seller subsidy values are well below the twelve month average and median seller subsidy values.  What does this mean?  In the more recent sales, Braemar Arista home sellers have been giving less money in closing cost help to buyers.

Finally, another good trend is found in the days on market column.  The six month average and median marketing times are shorter than the twelve month average and median marketing times.  This means Braemar Arista homes have been selling faster recently.

If you placed your Braemar Arista 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 pay minimal amounts of closing cost help, if any.

If you know someone in the market for an outstanding Canterbury model in our neighborhood, check out 9725 Kinloss Mews, just listed for $610,000.  You can call me for a tour if you don’t have your own buyer’s agent.

The next Braemar Property Value Report will be out in July.  Until then, if you have been considering the sale of your Braemar home, give me a call.  I can get the job done safely and for maximum 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

 

 

 

Just Listed in Braemar: Expansive, Gracious Canterbury for $610,000

Just Listed in Braemar: Expansive, Gracious Canterbury for $610,000

Located in the sought after Patriot High School district, this Canterbury model by Brookfield Homes, located at 9725 Kinloss Mews is sure to please the most discerning buyer. Enter into a foyer/center hall where hardwood floors take you through most of the main level.  Formal living and dining rooms sit on either side of the entry.  Step through the center hall, passing the main level powder room, and you find a study to your left and the kitchen area to the right.

The kitchen is truly the heart of this home.  Open to a breakfast nook and the family room beyond, this is where every day life happens.  For more formal occasions, you will love the butler’s pantry that connect the kitchen to the formal living room.

The upper level is where you find four bedrooms and three bathrooms, one each making up the expansive master suite.  Hardwood flooring in the master bedroom leads to a tiled master bathroom where you find two separate vanities, a large soaking tub, separate shower and water closet. If you didn’t feel the word luxury washing over you, take a look into the two large walk-in closets.

The remaining three bedrooms are extremely generous in size.  Second bedroom has an en-suite full bathroom.  Third bedroom connects to the third full bathroom, which is dual entry with two vanities.  Fourth bedroom has nearby hall access to the second entry of third bathroom.

If that’s not enough room for you, wait until you see the basement.  An oversized recreation area is a perfect place for games, movies or a second family room.  One of two finished dens is in use as a work out room, the other as a mother-in-law suite.  Of course, you can’t have a true mother-in-law suite without a full bathroom, which is just around the corner.  Basement boasts a walk up exit.

All this is located on a lot that faces rural farmland property and is on a cul-de-sac.  A rare lot to be sure.

If you or someone you know is interested, 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: 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

 

Braemar Property Value Report: November-December 2019 (Arista Series)

Braemar Property Value Report: November-December 2019 (Arista Series)

Who is out there enjoying the sunshine and temps in the low fifties today?  Sure it’s a weekday and the majority of Western Prince William County is at work, but that doesn’t mean you can’t enjoy it. The sun shining in the windows is lovely.  Too bad the weekend is cuing up to be nasty weather-wise. Just like the real estate market, the weather is beyond our control.

In this edition of the Braemar Property Value Report we take a look back at the last two months of sales activity in the Arista Series 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 prevalent of these floor plans in Braemar is the Canterbury.

Getting right to it, there was one Canterbury that sold in December.  Details of the sale are below:

I’m sure I am not the only one scratching my head and wondering why five bedroom, three and a half bathroom Canterbury with a fully finished walk out basement sold for only $574,900.  It turned my stomach to see that one.  Well, part of the issue is that the sale was a Short Sale.  Short Sales are distressed sales where the owners of a home are upside down in their mortgage vs. what they will get for the sale of their home.  Even still, as a veteran Short Sale Agent that saw plenty of action in our neighborhood during the market down turn, I can say that the investors on the back end of the mortgage don’t give these homes away.  They usually want market value.  If this is what a bank considers market value for a Canterbury in Braemar, there could be trouble ahead.  The good news is that this shouldn’t be a comparable sale for any seller with equity.  Nonetheless, that isn’t going to stop buyers from pulling it up on any number of sites and getting unrealistic expectations of what a large single family home in Braemar is worth.  The latter could certainly affect our property values.  After all, buyers are half of the equation.

 Updating the six month and twelve month data points with the entire year’s worth of sales for Arista homes in 2019, here’s what we see:

Starting with sold price, we see the six month average is well above the twelve month average sold price.  However, the six month median has barely moved from the twelve month median.  Best case, Arista homes are still gaining ground in terms of value.  Worst case, they are holding steady.

Seller subsidy (closing cost assistance to buyers) is showing some good trends for Braemar home sellers.  The six month average seller subsidy is a good chunk below the twelve month average seller subsidy.  Meanwhile the six month median is slightly below the twelve month median.  Overall, this means Arista home sellers have been giving less closing cost help.

Days on market shows a trend I don’t like in the averages.  The six month average average marketing time is about fifty percent longer than the twelve month average marketing time.  I would love to blame the Short Sale that sold this reporting period that that one went under contract in twenty-five days!  Once again, however, the median values are where we find stability.  The six month median marketing time and the twelve month median marketing time are exactly the same.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contract in about four to six weeks.  You could also expect to pay an average of about 1% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in March.  Until then, if you have you been considering a spring sale, now is the time to get started.  By the time we are in the actual spring season, the spring selling season is well under way.  Now is the time to get on the market and get your price when the competition is minimal. Give me a call and let’s talk market timing.  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: September-October 2019 (Arista Series)

Braemar Property Value Report: September-October 2019 (Arista Series)

There is no doubt that winter arrived early in Bristow.  Snow flurries and freezing temps are here. Brrrr.  I hope you have all winterized your hose bibs.  If not, definitely make it a priority.

For now, my priority is bringing you this Braemar Property Value Report, detailing sales of homes in the Arista Series. Those are the largest series of homes in Braemar built by Brookfield Homes.  The floor plans include the Allister, Buckingham and Canterbury.  The most popular of these floor plans in Braemar is by far and away the Canterbury.

During the current reporting period of September and October, there was only one Arista home that sold.  The details are listed below:

Even though there is only one sale, that doesn’t mean we can’t get an idea of value and other trends in the market.  This report gives values in increments of six and twelve months based on the entirety of sales for the last twelve months.  Those data points this report are listed below:

Looking first at sold price, it is outstanding to see that the sale of 9946 Broadsword sold for higher than our reported six month average and six month median sold prices.  Furthermore, just the six month sold prices compared to their twelve month counterparts shows that the Arista home sales in the more recent past are higher.  This means values are still pushing up.

Seller subsidy, unfortunately, is always pushing up in the six month values compared the twelve month values.  Seller subsidy is closing cost help that sellers give buyers from their net proceeds at closing.  This number moving up is not a shock given my first hand experience in the market place.  Buyers have been asking for, and receiving, more closing cost help lately.  If demand in our market wanes, this trend will continue.  If demand increases, we could once again see seller subsidy decrease.

Days on market does show a positive trend.  Both the six month average and six month median marketing times are below their respective twelve month values.  This means that Arista homes in Braemar are selling in a shorter amount of time by a week or a so in the more recent sales.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect your home to be under contract in a little more than a month. You could also expect to pay 1% to 1.5% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in January. Until then, there are still buyers out looking to be “home for the holidays.”  If a need to move has arisen in your household, don’t hesitate to find out why waiting for spring may not be the only answer.  I am here to help you any time of the year.  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