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

Braemar Property Value Report: July-August 2019 (Arista Series)

Braemar Property Value Report: July-August 2019 (Arista Series)

School is back is session and the fall season is upon us.  Time to reflect on the last two months of our Braemar summer real estate market and see what happened with Braemar Arista Series home values.  In case you are not familiar with the the name, Arista Series homes are among the largest homes in Braemar, built by Brookfield Homes.  The Arista Series homes are one of three floor plans:  Arista, Buckingham and Canterbury.

There was only one Braemar Arista home that sold during the months of July and August.  As it turns out, I was the Buyer’s Agent on this deal.  That’s why it is highlighted in blue text.  Details of the sale are listed below:

Even though this was only sale, when combined with the entirety of the last twelve months of Arista home sales, the six and twelve month data points are updated.  That gives us a chance to see trends happening in the short term to the long term.  The latest six and twelve month average and median values are below:

Starting with the sold price column, we see that the six month average is slightly above the twelve month average.  Slightly above is still above and heading in the right direction for Braemar Arista home owners to gain more equity in our rising market.  The six month median is well above the twelve month median, a much more visible indicator that property values are moving up for Arista home owners.

Seller subsidy (closing cost assistance to buyers) is notably higher in both six month value points compared to the their twelve month counterparts.  Seems Braemar buyers in this price range are starting to request more closing cost help…and they are getting it.

Days on market has come down in both the six month average and median values compared to the twelve month average and median values.  This means Braemar homes in this higher price range are selling a little faster than they had been.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement within about five weeks.  You could also expect to pay a little less than 1.5% of the sales price, on average, in closing cost help to your buyer.

The next Braemar Property Value Report will be out in November.  Until then, feel free to reach out and learn about the benefits of our year end selling season if you are considering a sale in the next six or eight months.   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

 

Helping a Buyer Move Up to a Larger Braemar Home

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

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

 

 

 

 

 

 

Braemar Property Value Report: May-June 2019 (Arista Series)

Braemar Property Value Report: May-June 2019 (Arista Series)

The Braemar real estate market has been busy, busy, busy.  Low inventory and high buyer demand have been the hallmark of 2019.  Right now, we are going to specifically go over the happenings with regard to Arista Series homes in Braemar during the last two months.  Arista Series homes are among the largest homes in Braemar, built by Brookfield Homes.  The Arista Series homes are one of three floor plans:  Arista, Buckingham and Canterbury.

There were four Arista homes that sold in Braemar in the months of  May and June.  The details of those sales are listed below:

The sold prices ranged from $537,500 to $625,000.  The low sold price seems to be due in large part to an unfinished basement.  The remaining three all had finished basements to some degree.  The degree to which they were finished, and type of exit (walk out vs. walk up) seem to make a difference in their sold prices.

When we take these sales and combine with them with the entirety of the last twelve months of Arista home sales, we get new six and twelve month data points, which are pictured below.

Looking first at sold prices, the six month average sold price has dipped ever so slightly below the twelve month average.  It’s a little more than a $1,000 difference.  Certainly not enough to be concerned with, particularly when you see that the six month median sold price is $9,500 higher than the twelve month average.  Arista home prices are holding steady at worst, continuing to push up in value at best.  Either way, it is not bad news.

Seller subsidy is not a great trend in either the six month average or six month median numbers.  Both are above their twelve month counterparts.  This means that in the more recent sales, buyers are getting more closing cost help.

Finally, days on market.  Remember, our new MLS, adopted in November 2019, stops counting days on market at different points than our previous MLS.  This has resulted in higher marketing times in the more recent sales.  However, even given the difference, marketing time in both six month values is below the twelve month values.  It seems Braemar Arista homes are selling faster.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement in about five weeks.  You could also expect to give a little more than 1% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in September.  Until then, when the time is approaching to sell your Braemar home, give me a call for the most accurate market analysis and best marketing plan for your 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: March-April 2019 (Arista Series)

Braemar Property Value Report: March-April 2019 (Arista Series)

A rainy weekend is always a great time for this Top Braemar Real Estate Agent to crunch numbers for new Braemar Property Value Reports.  The first report in the series is for the Arista Series.  Why? From the inception of this report, I have start with detached homes, alphabetical by the series.

In the event you are unfamiliar with what exactly an Arista Series home in Braemar is, they are the three largest single family homes built by Brookfield Homes in our neighborhood.  The floor plans are the Allister, Buckingham and Canterbury.  If you aren’t sure what floor plan your Braemar home is, feel free to send me an email with your address and I’ll be happy to let you know.

During the months of March and April, there were two Braemar Arista homes that sold.  The details of those sales are below:

Unfortunately, the sale at 9530 Laurencekirk was a foreclosure in rough shape.  Having personally toured it, I wondered why the bank would not even bother with a simple house cleaning.  There was filth that left your mind to imagine all kinds of horrible scenarios in the master bathroom and the kitchen.  The powder room on the main level must have had a water issue because the drywall on the lower half of the framing had been removed.  It was such a sad sight.  And honestly, I’m shocked anyone paid $463,000 for the home with the amount of work that needed to be done.

When I updated the six and twelve month data points with our newest sales in the rolling twelve months of Arista home sales, here is what I came up with:

The six month average and median sold prices are both below their twelve month counterparts. I would love to tell you that this is due to that very sad foreclosure sale, but the truth is that Arista homes haven’t had six month values above the twelve month values since our September/October 2018 report.  It seems that Arista home values have been trending down, despite the frenzy of buyer demand in our area.  Buyers are gobbling up homes under $500,000.  The larger homes are not experiencing the same conditions.

When it comes to seller subsidy (closing cost assistance to buyers,) there is good news.  It seems that buyers are getting less in seller subsidy in the six month values than we see in the twelve month values.  That’s a good trend for Braemar Arista home owners.

Days on market, is one where we see no change in the six month median to twelve month median values.  However the six month average marketing time is a little shorter than the twelve month average marketing time.

If you placed your Arista home on the market, priced to current conditions, you could expect it to be under contract in about two months.  You could also expect to give a minimal amount in closing cost help, if the current trend holds.

The next Braemar Property Value Report will be out in July.  Until then, if you want to know what your Braemar Arista home is worth in the current market, give me a call or send me an email.  Selling Braemar homes is my specialty.  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 2019 (Arista Series)

Braemar Property Value Report: January-February 2019 (Arista Series)

As I type up this most recent Braemar Property Value Report for home sales in the Arista Series, it is St. Patrick’s Day.  Will the luck of the Irish be with us in this report? Thankfully, luck has nothing to do with the market.  It’s all supply and demand.  Keeping regularly tabs on the market stats gives us the best idea of where supply and demand are trending.

Before we get to the report itself, if you don’t know what a Braemar Arista Series home is, they are the largest homes built by Brookfield Homes in Braemar.  The floor plans include the Allister, Buckingham and Canterbury.

During the current reporting period of January and February, there were no Arista homes that sold.  Supply problem or demand problem?  Hmm.  We’ll know next report because there are currently quite a few Arista homes on the market.

What we can do is take a look at the refreshed six and twelve month average and median values. 

Unfortunately, the six month average and median sold prices have fallen below the twelve month average and median sold prices.  Values had been slipping in recent sales near the end of the year.  That is an indication that demand for the largest homes in the neighborhood was waning.  Only time will tell if that continues.

Seller subsidy (closing cost assistance to buyers) is much lower in the six month values compared to the twelve month values.  Buyers in the most sales did not require large amounts of closing cost help.  That’s good news.

When it comes to days on market (marketing time) we see mixed information.  The six month average marketing time is lower than the twelve month marketing time.  Meanwhile, the six month median marketing time is higher than the twelve month median.  Neither change is very dramatic.

If you placed your Braemar Arista home on the market, priced to current conditions, these numbers indicate that your home should be under contract and well on it’s way to settlement, in eight to ten weeks.  You could also expect to pay a small amount in closing cost help.

The next Braemar Property Value Report will be out in May.  Until then, if you would like to know what your home would be worth in today’s market, call me for a free market analysis.  Since 2005, No One Knows Braemar Better! 

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com