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

Braemar Townhouse Report: November-December 2020

Braemar Townhouse Report: November-December 2020

Hard to believe we are almost one month into 2021. Time flies. Of course, with 2020 closed out, it is time to look back at the Braemar townhouse market and see how things ended last year with respect to property values and other real estate market indicators. Let’s get right to it.

During the months of November and December there were nine Braemar townhouses that sold. The details of those sales are listed below.

Combining these most recent sales with the entire year’s worth of Braemar townhouse sales, our six and twelve month data points are updated as seen below.

Looking at both six month sold prices compared to their respective twelve month sold price, we see both six month values being higher than the twelve month values. This means Braemar townhouses are continuing to increase in value in this seller’s market.

Seller subsidy is where we get to see how much closing cost assistance Braemar townhouse buyers negotiated from their sellers. The six month average seller subsidy is a little below the twelve month average seller subsidy. More importantly, both the six month and twelve month median values are at zero. This means in both time frames that more than half of Braemar townhouse sellers gave no closing cost help at all. Buyers in this competitive marketplace are having to cover as much of their closing costs as they can to have a chance to win in a multiple offer situation.

Days on market actually increased in the six month average compared to the twelve month average, but only by two days. Looking at the most recent solds there were a couple of oddballs, one that took longer than two weeks and one that took a month and a half to get under contract. That’s not typical for a seller’s market. Thankfully, the six month median and twelve month median show us that in both time frames, more than half of Braemar sellers were under contract 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 one week. You could also expect that while you may see offers with requests for seller subsidy, the market may continue to be so competitive you have to give none.

The next Braemar Townhouse Report will be out in March. Until then, if you would like to sell your Braemar townhouse while values are peaking this year, let’s talk about how to get the absolute maximum for your home. Even in a seller’s market, the listing agent you hire matters to your bottom line in how they advise you, market your home and negotiate 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 Reflection Quarterly: October-December 2020 (4th Quarter)

Braemar Reflection Quarterly: October-December 2020 (4th Quarter)

Reflection Series Home

Wrapping up the Braemar market reports for this weekend, I bring you the Braemar Reflection Quarterly. This report focuses on the sales of the semi-detached homes located on Tarvie Circle that are attached to one other home only at the rear load garage. This particular edition covers the activity from the fourth quarter of 2020.

Thankfully, there were two sales of Braemar Reflection homes in the last three months of the year. There were two quarters of absolutely no Reflection home sales in 2020. The details of the fourth quarter sales are listed below:

The first thing you may notice is that the first home, with one more bedroom and bathroom on the loft level, sold for a little less than a home without a loft bedroom/bathroom. It is important to note that one, located at 9560 Tarvie, was a bank owned property. It was not in great condition.

Taking these fourth quarter sales and adding them in with the only other Reflection home sale that happened during 2020, we have a total of three Reflection home sales from which to pull our updated six and twelve month data points. They are listed below:

Starting with the sold column we see that the six month average sold price is well above the twelve month average sold price. However, the six month median sold price is a little over $200 above the twelve month average. At worst, this means semi-detached homes in Braemar are holding steady in value. At best, it means they are gaining value. Only more sales in 2021 will tell us which is correct, but I would place my money on values going up giving the low inventory and intense buyer demand that our marketplace is experiencing right now.

In the seller subsidy column we get to see how much closing cost help buyers negotiated from sellers. With the bank sale above giving an enormous amount of closing cost and only parsing these numbers from three Reflection home sales for 2020, these numbers are higher than what I am finding in other Braemar market reports. While the six month average seller subsidy here is higher than the twelve month average, it is probably more fair to look at median seller subsidy in the twelve month time range. This tells us that two of three of the Braemar Reflection home sellers (traditional home owners, not banks) gave absolutely nothing in closing cost help. Because of the nature of the home sale that gave that enormous seller subsidy being a bank sale, it is not going to be a comparable sale for any traditional equity sale where a home owner sells their property. I only hope that bank owned properties don’t start popping up more frequenting in the market.

When it comes to the days on market (DOM) column we see both the six month average and median values are longer than their respective twelve month values. Clearly, the marketing time of nineteen days taken by the banked owned sale is skewing these figures, Looking to the twelve month median days on market, we see that two of three semi-detached Braemar home sellers had their homes under contract in five days or less last year.

If you placed your Braemar Reflection home on the market, priced to current conditions, you could expect it to be under contract a week or less. You could also expect, if higher buyer demand and limited inventory continue in 2021 (which is exactly what we are finding right now) to pay nothing in seller subsidy as buyers compete to win your home.

The next Braemar Property Value Report will be out in April. That’s when we will know what kind of a start our Braemar Reflection home market got off to in 2021. Until then, if you want to investigate the sale of your home while our Braemar home values are peaking this year, get in touch with me. Since 2005, No One Knows Braemar Better!

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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 Piggyback Quarterly: October-December 2020 (4th Quarter)

Braemar Piggyback Quarterly: October-December 2020 (4th Quarter)

As this Saturday work day draws to a close for this Braemar Real Estate Agent, I am bringing you another property value update. This installment is the Braemar Piggyback Quarterly and focuses on the fourth quarter sales of the two car garage townhouses in our neighborhood that are attached back to back and side to side. For the record, these are the only two car garage townhouses in our Braemar neighborhood, so if you have a two car garage townhouse, this report is for you.

During the last three months of 2020 there were two Braemar Piggyback townhouses that sold. The details of those sales are listed below:

Taking these sales from the fourth quarter and combining them with the entire year’s worth of Braemar Piggyback townhouse sales from 2020, our six and twelve month data points are updated as follows:

To start, the sold price column shows a very small increase in average value from the twelve month sold price to the six month sold price. On the other hand, an even smaller decrease is seen going from the twelve month median sold price to the six month median sold price. Had it not been for the most recent Braemar Piggyback townhouse sale of $370,000, I would be the first to say this is what market value stability looks like. However, it seems that we’re likely to see these two car garage townhouses in Braemar continue to push up in value as we move into 2021.

The seller subsidy column reveals a great trend for Braemar Piggyback townhouse sellers. The six month average seller subsidy (closing cost help to buyers) is at zero, down from over $3,400 average seller subsidy in the twelve month average. That means the latter half of the year, as buyers were competing for the limited inventory available, fewer asked for closing cost help. The fact that the six month median and twelve month median seller subsidy numbers are the same at zero tells us that in both of these time periods, more than half of the Braemar Piggyback townhouse sellers gave nothing in closing cost help. Even our most recent sales from the fourth quarter have zero seller subsidy.

Finally, we come to the days on market column. The already very reasonable eleven days on market found in the twelve month average shrunk to six days in the six month average. Meanwhile, the difference in the twelve month median vs. the six month median was only one day less of marketing time in the recent sales. Our market is gobbling up properties very quickly as there is hardly anything on the market.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to be under contract in less than one week. You could also expect that would not have to give any seller subsidy at all.

The next Braemar Piggyback Quarterly will be out in April. Until then, know that Braemar homes are peaking in value this year. The year 2021 has been predicted to be one more year of low inventory and high buyer demand. We won’t know when we’ve hit the market peak until values start their decline, so if you’ve been waiting to get top dollar for your Braemar home, get in with me and let’s take a look at what the market conditions mean in a potential sale for you. Since 2005, No One Knows Braemar Better!

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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 Patio Quarterly: October-December 2020 (4th Quarter)

Braemar Patio Quarterly: October-December 2020 (4th Quarter

Thank goodness the sun is shining today. Too many overcast, gloomy days and my energy is zonked. Instead, I’m alert and productive at my computer doing yet another Braemar real estate market report. Today’s installment is the Braemar Patio Quarterly, detailing the fourth quarter sales of the two level, quad style attached homes in our neighboood.

There were four Braemar Patio homes that sold in the fourth quarter. The details of those sales are listed below:

It’s nice to have a combination of main level bedroom models and ones that are all upper level bedrooms in this list. Immediately the first thing you notice is that the sold prices march up as you go down the column. You also notice not one sale gave seller subsidy (closing cost help to buyer) and single digit days on market. Of course, adding these fourth quarter sales in with the previous three quarters worth of Braemar Patio home sales for 2020, we have an entire year’s worth of data that gives us the best indicator as to what has been happening in the market.

Starting with the sold price column, we see healthy increases in both six month values compared to their respective twelve month values. This means that Braemar Patio homes are continuing to increase in value. No surprise given the intense buyer demand and limited inventory our market has been facing.

When it comes to seller subsidy, the six month average value has decreased by more than half compared to the twelve month value. More imporantly, both the six month and twelve median values are at zero. In both time frames, that means that more than half the Braemar Patio home sellers gave no seller subsidy. Another result of buyers having to compete for limited inventory.

Finally, days on market reveals a major decrease in marketing time from the twelve month average to the six month average. The six and twelve month median values are both in single digits, letting us know that more than half the sales in each time period happened quickly.

If you placed your Braemar Patio home on the market, priced to current conditions, you could expect it would be under contract in less than a week, and likely, with multiple offers. You could also expect to get away with not having to give any seller subsidy.

The next Braemar Patio Quarterly will be out in April. Until then, when the time comes for you to sell your Braemar home, get in touch with me for the most comprehensive and accurate market analysis. Since 2005, No One Knows Braemar Better!

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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 Condo Quarterly: October-December 2020 (4th Quarter)

Braemar Condo Quarterly: October-December 2020 (4th Quarter)

Happy New Year! The much anticipated 2021 is here and there is hope that things will soon get back to some sort of normal. For now, however, nothing has changed except the date. Same for the Braemar real estate market. We are still experiencing extremely low inventory and high buyer demand. Let’s take a look at how that has affected Braemar Condo values in this edition of the Braemar Condo Quarterly, which focuses on the fourth quarter activity of 2020.

To start, there were only two Braemar Condos that sold during the fourth quarter. Our already low inventory dwindled to nothing as the end of the year approached. The details of the two Braemar Condo sales from the fourth quarter are listed below.

Taking these two sales and combining them the entire year’s worth of Braemar Condo sales, our updated six and twelve month data points give us an idea as to how the real estate market has been faring.

The sold price column shows us that the six month average sold price is almost exactly $2,000 than the twelve month average sold price. Meanwhile, the six month median and twelve month median sold prices are the same. There is still growth in Braemar Condo values and likely will be for the foreseeable future.

Seller subsidy is the column where we learn how much closing cost help buyers negotiated in their contracts with sellers. It is a bit surprising, given the intense competition buyers are facing, that the six month average seller subsidy is higher than the twelve month average, as well as the six month median being higher than the twelve month median. However, looking at the two most recent Braemar Condo sales, only one of them gave any seller subsidy and the one that did give it gave a very low amount at $1,000. Likely something negotiated in lieu of home inspection repairs from my experience.

Days on market also has an increase, though very slight, in both the six month values compared to their respective twelve month values. Some of this may have to do with the thirty-one day marketing time of one of the more recent sales. That long of a time frame is unusual.

If you placed your Braemar Condo 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 less than 1% of the sales price in seller subsidy, if any at all.

The next Braemar Condo Quarterly will be out in April. Until then, if you find yourself ready to place your Braemar Condo on the market, get in touch with me for the most accurate assessment of your condo’s value in today’s market. Since 2005, No One Knows Braemar Better!

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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: September-October 2020

Braemar Townhouse Report: September-October 2020

Bringing up the rear of November’s Braemar markert reports is this edition of the Braemar Townhouse Report. In this report the focus is on the sale of traditional three level townhouses in Braemar with a back yard, and attached side to side only.

In the months of September and October (2020) there were eight Braemar townhoues that sold. Final sold prices ranged from $315,000 to $395,000. The details of those eight sales are listed below:

Taking all eight of these sales and combining them with the entire past twelve months of Braemar townhouse sales, the six and twelve month data points are updated as seen below:

Starting with the sold price column, we find that both the six month average and six month median sold prices are higher than their respective twelve month values. This means that Braemar townhouses are still gaining value. No surprise in the current market where inventory is scare and buyer demand is intense.

In the seller subsidy column we get to learn the amount of closing cost help that sellers gave to their buyers. The six month average seller subsidy is less than the twelve month average seller subsidy. This is good. What is better is that the six month median and twelve month median seller subsidy values are in agreement at zero. This means that more than half the sellers in these time period gave absolutely no closing cost help. And if you look at the sales from September and October above, more than half of those sellers gave nothing.

The days on market columns shows the six month average and twelve month average marketing times aligned at seven days. Meanwhile the six month median marketing time was one day longer the twelve month median marketing time. It is not taking long for Braemar townhouses to get under contract.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in a week or less. You could also expect that you would not have to give any seller subsidy.

The next Braemar Townhouse Report will be out in January. Until then, I wish you all the best this holiday season. And if the need arises for you to sell your townhouse between now and then, don’t hesitate to get in touch. Our year end Braemar real estate market is a powerful one…one without a lot of competition and with the most serious buyers. I would be happy to show you what a year end 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 Reflection Quarterly: July-September 2020 (3rd Quarter)

Braemar Reflection Quarterly: July-September 2020 (3rd Quarter)

Reflection Series Home

Today I bring you the last of the Braemar quarterly property value reports. This one is focused on the Reflection homes in Braemar. For those who are unfamiliar with what defines a Reflection home, they are the homes on Tarvie Circle and are attached to one neighbor at the rear load garage.

Between July and September (the 3rd quarter of 2020,) there were no Braemar Reflection homes that sold. For that matter, there were no Reflection homes that sold between April and June (the 2nd quarter of 2020.) That makes our average and median six month value point non-existent, but we still have our twelve month average and median value points that we can use to get a sense of where Reflection home values may be.

The twelve month average and median sold prices for Reflection homes are close in value. And while our market demand has seen values pushing up, most home types are not jumping up in value by leaps and bounds. Maybe an average projected sales price for the current market would be $475,000 or so.

In the seller subsidy column we learn how much closing cost help Reflection home sellers gave to buyers. Even information seven to twelve month’s old shows that seller subsidy was minimal in the average and nothing in the median value. The market has been so flooded with buyers and very little inventory, very little closing cost help has been zeroing out in a lot of home sales lately.

Days on market in the twelve month stats are a little high at eighteen days in the average. The twelve month median at eight days is more likely close to what may happen in the current market if a Reflection home hit the market.

The next Braemar Reflection Quarterly will be out in January. Maybe by then we’ll have some sales of Reflection homes to report. Until then, if you are contemplating taking advantage of this extreme buyer demand, get in touch with me. 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 Piggyback Quarterly: July-September (3rd Quarter)

Braemar Piggyback Quarterly: July-September (3rd Quarter)

What a gorgeous fall day. The colors are really starting to pop in our neighborhood. The other thing popping, of course, is our local real estate market. Today I present to you the Braemar Piggyback Quarterly, covering activity from the third quarter. Piggyback townhouses in our neighborhood are characterized by lack of a back yard, as they are attached side-to-side and back-to-back. They also are the only townhouses in Braemar to have two car garages.

During the third quarter, there were four Braemar Piggyback townhouses that sold. Coincidentally, they all sold in the month of July. The details of those four sales are listed below:

While two of the sales were about $355,000, there was one a lot more and one that sold for a lot less. You can probably discern from the information provided that the high sale was the only end unit that sold. The low sale was only a two bedroom townhouse. Taking all of these sales and combining them with the previous three quarters to give us a complete twelve months’ worth of data, our six and twelve month data points are updated as reflected below:

Starting with the sold price column we see that the six month average sold price is a bit higher than than the twelve month average sold price. That’s a smidge more than a 1% gain in average value in the short term average. Meanwhile, the six month median is only $500 above the twelve month median sold price. Any direction upward is good.

The seller subsidy column is where we get to see how much closing cost help Braemar Piggyback townhouse sellers gave to buyers. Of course, in the four most recent sales, no Braemar Piggyback townhouse seller gave ANY closing cost help. However, the average seller subsidy, while lower in the six month value compared to the twelve month value, still shows that Braemar Piggyback sellers had been giving closing cost help in the second quarter and even earlier than that. The six month median and twelve month median seller subsidy values are identical at $5,000. That means that in both time periods, more than half the sellers gave closing cost. If our third quarter sales are any indication of what may be coming up in the fourth quarter, I may expect to see zero in the six month median at a minimum next report.

Days on market, or as I like to refer it–marketing time, was six days faster when comparing the six month average marketing time to the twelve month average marketing time. The six month median marketing time was only three days faster than the twelve month median. This means Braemar Piggyback townhomes are selling even faster.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect that it would be under contract in no more than a week or less than two weeks. You could also expect that if you needed to give seller subsidy, you may only have to give about 1.5% of the sales price.

The next Braemar Piggyback Quarterly will be out in January. Until then, if the need arises to sell your Breamar Piggyback townhouse, give me a call for a free market analysis. While any home can sell in our current market with low inventory and high demand, not every home gets top dollar. Top dollar is only achieved with top notch marketing, negotiation and appraisal preparation. If top dollar is important when you sell, I’m your gal. 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 Condo Quarterly: July-September 2020 (3rd Quarter)

Braemar Condo Quarterly: July-September 2020 (3rd Quarter)

Patio Home in Braemar

Clouds and drizzly rain have descended over Bristow today. Yuck. My father used to describe these types of days as “five o’clock all day.” Before you know it though (November 1st to be exact,) we’ll have fallen back in time and it will be dark around 5pm. I dread those days.

Right now, it is time to look back on Braemar Patio home resale activity and values in this Braemar Patio Quarterly. The third quarter wrapped up at the end of September. Let’s see what happened with Braemar Patio home values. If you don’t know what a Braemar Patio home is, they are the two level, quad style attached homes in our neighborhood. Being attached at the corner, side and back, they have no back yard, just side and front yard.

To start, there was only one Patio home that sold in Braemar between the beginning of July and end of September. Details of that sale are listed below:

At $365,000 with three bedrooms and two and a half full bathrooms, $3,500 in seller subsidy and under contract in only three days, this was a very healthy sale. Of course, we can’t get a sense of where we are headed without seeing where we have been. That’s why I take this one sale and add it with the previous three quarters of Braemar Patio home sales and extract six and twelve month values.

Starting with the sold price column we see that both the six month average and six month median sold price are above their respective twelve month values. That means Braemar Patio homes are continuing to push up in value. No surprise there given the intense buyer demand and lack of inventory our market has seen lately.

When we move to the seller subsidy column, we get a chance to see how much closing cost assistance Braemar Patio home sellers gave to buyers. Just like the sold price column, the six month values show a seller favored trend over their twelve month counterparts. Seller subsidy is decreasing. In fact, more than half of the sales in the six month range gave none at all. That’s great news for Braemar Patio home owners thinking of selling.

Finally, the days on market column shows us the trend in how long it is taking for Braemar Patio home owners to get under contract. The six month average and median values are the same at four days. The twelve month median is also at four days, but the twelve month average is at thirteen days. Clearly, in the most recent sales, Braemar Patio homes are flying off the shelves.

If you placed your Braemar Patio home on the market, priced to current conditions, you could expect it be under contract in less than a week. You could also expect to pay less than 1% of the sales price, if anything, in seller subsidy.

The next Braemar Patio Quarterly will be out in January. Until then, if you the need to sell yoru Braemar Patio home crops up, get in touch with me for well versed analysis of your home’s value and top notch marketing campaign. Any home will sell right now, but not every home gets the highest possible sales price without professional marketing. 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