Braemar Townhouse Report: July-August 2021

Braemar Townhouse Report: July-August 2021

Last, but never least, in my September series of property value reports is this edition of the Braemar Townhouse Report. In this report we look at the sale of traditional three level townhouses with a backyard. If you have a two car garage townhouse with no back yard, you need to look at the Braemar Piggyback Quarterly. If you have a two level attached home, you need to look at the Braemar Patio Quarterly. This is a report that also does not include Braemar Condos. For those you can look to the Braemar Condo Quarterly.

During the months of July and August there were thirteen Braemar townhouses that sold. Their sold prices ranged from $370,000 to $460,000. Details of those sales are listed below:

If you think I made a type-o by having 12198 Drum Salute the list twice, I did not. That home sold once in July to an investor and then again by the investor for $40,000 more. What’s the big difference? Let me tell you the improvements were some the first home owners would have been advised to do if I had meet with them. The first sellers had specific paint colors that went with their own decor. They also had a couple rooms in need of new carpet. They also were in need of a new roof. Often times, insurance companies cover that. Their home, despite professional photos, looked cluttered in the most important rooms: kitchen and owner’s bathroom.

The investor painted the whole townhouse a neutral gray. They added new lighting fixtures and faucets to the bathrooms, tiled the floor and added a frame around the vanity mirrors. They added updated lighting fixtures in the kitchen, dining and rec rooms. They added a back splash to the kitchen and painted they owner’s bathroom vanity. They updated the carpeting and added a new roof. They also put in a new garage door opener. All told, that probably cost them $10,000 to $15,000. And even if the seller didn’t have those funds on hand, there are remodeling companies that will cover the costs and take reimbursement from closing costs. The $25,000 net from the investment would have been worth the trouble if they had known what their home would have been worth with some modest listing preparation. That’s why I always reiterate listing prepartion and professional marketing. One without the other doesn’t get top dollar.

Taking these thirteen sales and combining them with all the Braemar townhouse sales from the previous twelve months, our six and twelve month data points are updated as seen below:

Looking at the sold price column, we see that both the six month average and six month median prices are higher than their respective twelve month values. This means Braemar townhouses are continuing to increase in value. The summer did show a softening of buyer demand, but nothing to be concerned with. The six month growth rate last Braemar Townhouse Report was 5% average and 6% median. The only difference this report is that the six month average growth rate a tad lower at 4%.

Seller subsidy is where we get to see how much closing cost help Braemar buyers were able to get from their townhouse sellers. Both the six and twelve month median values are at zero. That means more than half of Braemar townhouse sellers in both time frames gave no seller subsidy. And even looking at the most recent sales, we see only one seller out of thirteen that gave anything. Turns out, out of seventy-one sellers in the past year, only eleven gave closing cost help. That’s why we even have average seller subsidy values and why they are so low.

Days on market is unchanged in the avearage and median values. Braemar townhouses are still getting gobbled up quickly in our seller’s market.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect to be under contract in a week or less. You could also expect to give nothing in seller subsidy.

The next Braemar Townhouse Report will be out in November. Until then, if the time is drawing near to sell your townhouse, get in touch with me and find out how to avoid leaving money on the table. We saw the case study of leaving money on the table in this report already. Don’t be that seller. Hire a local, professional agent that offers top notch listing preparation advice and marketing. One without the other is not enough. 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: May-June 2021

Braemar Townhouse Report: May-June 2021

Last, but not least in the series of May-June Braemar market reports, I bring you the Braemar Townhouse Report. This report focuses on the sale of traditional three level townhouses in our neighborhood. Traditional townhouses are those with three levels with a back yard that are NOT condos.

During the months of May and June, there were sixteen townhouses in Braemar that sold. I was so very happy to represent the buyers of the one highlighted in blue. Details of all of the sales are listed below:

There is a wide variety in final sold prices because there is a variety in sizes and styles of traditional townhouses in Braemar. Of the larger one car garage townhouses, my buyers got a fantastic deal on Drum Salute. The home did not show well, but that was a plus for us. It only needed new flooring, some paint and a good cleaning. They were able to negotiate $8,000 in closing cost help to offset that cost, have a home inspection and still get a killer deal. If they turned around and sold the home after the improvements, they could actually make money.

Taking all of the sales listed above and combining them with the entire past year of Braemar townhouse sales, our six and twelve month data points show more seller favored trends.

Starting in the sold price column, it is no surprise to see the growth that happened in the six month average and median compared to the twelve month average and median values. Townhouses have been gaining value quickly in this market with little inventory and an overload of buyers.

Seller subsidy is where we find out what amount of closing cost help Braemar buyers were able to to negotiate from their townhouse sellers. My buyers and one other were the only ones in the sixteen recent sales that negotiated any closing cost help in May and June. Looking at the six and twelve month median, more than half of sellers in both time frames had to give nothing. The six month and twelve month averages show that seller subsidy is becoming more rare. It is highly unlikely to have a buyer request closing cost help if your home is properly prepared for market. Doing nothing in a seller’s market costs a seller.

Days on market shows the seller’s market in all its glory with single digits down the line. Braemar townhouses sell very quickly. Even in the sixteen most recent sales listed, only one took two weeks to go under contract.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect your townhouse to be under contract in a week or less. You could also expect, if you did the work to make your home shine, to give nothing in closing cost help.

The next Braemar Townhouse Report will be out in September. Until then, when you are ready to sell your Braemar townhouse, don’t fall victim to leaving money on the table. Get my expert advise on listing preparation and take full advantage of my professional marketing for the absolute max the market will bear for your home. You only get one chance to get the equity out in a sale. 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 Reflection Quarterly: April-June 2021 (2nd Quarter)

Reflection Series Home

Braemar Reflection Quarterly: April-June 2021 (2nd Quarter)

Today I bring you the last of the Braemar quarterly property value reports for the second quarter of 2021. This edition of the Braemar Reflection Quarterly focuses on the sales of Reflection homes in Braemar located off of Tarvie Circle that are single family homes, attached only at the garage, and adjoined as such to one neghboring property.

There was only one Reflection home that sold in the second quarter. That’s actually good news because the last time there was any Reflection home sales to report was the fourth quarter of 2020. The details of the second quarter 2021 sale is listed below:

Seeing a jump from a list price to sold price of $10,000 is nice to see. It offsets the $8,000 seller subsidy request (closing cost help to buyer.) Taking this quarter’s sale and combining it with the last three quarters of sales, the six and twelve month data points are updated as seen below:

Because there was only one sale in the six month data range, both the six month average and median data points are identical. The sold price price column does show an increase from both the twelve month average and twelve month median sold prices compared to the six month values. Like everything else in this seller’s market impacting Braemar, Reflection homes are continuing to increase in value.

The seller subsidy column is where things are bit different for Reflection homes. In just about every other report I have compiled for Braemar property values, average and median seller subsidy is absent in the six month values and might be around $1,000 or less in the twelve month average as buyers ask less and less of sellers just to get under contract with so liittle inventory on the market. The Reflection homes are still seeing substantial seller subsidy requests.

Days on market is a literally a day or two longer in average and median values in other Braemar property reports. Still six to eight days is not a long time to be on the market. My guess is that buyers are weighing a semi-attached home against detached options that may be available at the time. It is an unusual configuration and clearly, not enough to stall buyers for too long.

If you placed your Reflection 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 pay about 1.5% of the sale price in seller subsidy.

The next Braemar Reflection Quarterly will be out in October. Until then, when the time comes to sell your home, the preparation and marketing will be critical in creating buyer enthusiam. It is buyer enthusiasm that wrings every penny and the absolute best terms the market will bear out of your home. Outstanding listing preparation advice (lowest dollar outlay for the biggest bang on the market) and professional marketing are standard in my business no matter the market. 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 Piggyback Quarterly: April-June 2021 (2nd Quarter)

Braemar Piggyback Quarterly: April-June 2021 (2nd Quarter)

Some dark clouds mid afternoon have given way to some gorgeous sunlight on this July evening in Braemar. It is odd to get used to evenings with full sunlight, thanks to daylight saving time. Another thing that has been hard to get used to is the crazy seller’s market that Braemar has been experiencing.

In this edition of the Braemar Piggyback Quarterly, I will look back at the sales that happened of the back-to-back townhouses with two car garages that sold in our neighborhood. I will also provide six and twelve month data points, showing us what the market has done in the shorter term.

For starters, there were five Braemar Piggyback townhouses that sold in the second quarter. Final sold prices ranged from $390,000 to $430,000 and are detailed below:

Taking these five sales and combining them with the previous three quarters of Braemar Piggyback townhouse sales, the six and twelve month values are updated as reflected below:

Starting in the sold price column, seeing both the six month average and six month median sold prices higher than their respective twelve month counterparts means that Braemar Piggyback townhouses are continuing to increased in value. Substantial growth in property values has become normal with the outrageous buyer demand and lack of inventory.

Seller subsidy is the column where we learn how much closing cost help buyers were able to negotiate from sellers. Down the line all values are in agreement at ZERO. Buyers facing multiple offer situations are having to come forth with strong offers with little to no requests of the seller. Seller subsidy requests are extremely rare these days.

Days on market is single digits down the line. The only movement seems to be in the six month average shrinking one day from the twelve month average. Piggyback townhomes are selling fast.

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 to give nothing in closing cost help.

The next Braemar Piggyback Quarterly will be out in October. Until then, when the time comes to sell your Bramear home, no matter what the market conditions are, the key to getting the maximum amount of the market is creating buyer enthusiasm. That is done with proper listing preparation and professional marketing. My Braemar sellers have been reaping the rewards of both for years. Get in touch with me and I’ll do the same 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 Patio Quarterly: April-June 2021 (2nd Quarter)

Braemar Patio Quarterly: April-June 2021 (2nd Quarter)

Another day, another quarterly Braemar property report. The Braemar Patio Quarterly focuses on sales of Patio homes in our neighborhood, also known as the two story quads. In this edition, the second quarter of 2021 is covered in detail, starting with the Patio homes sold.

There were three Braemar Patio homes that sold between April and June. All three had a main level bedroom and bathroom. Only one was less one full bathroom on the upper level. Details of all three sales are listed below:

Taking those three sales and combining them the previous three quarters of Patio home sales, the six and twelve month data points are updated as follows:

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 Braemar Patio homes have been continuing to gain value in our seller’s market.

In the seller subsidy column, we find out how much closing cost help buyers were able to negotiate from sellers. Both six month values showing zeros is not a surprise. And the only place we find something that isn’t zero is the twelve month average. One of ten Braemar Patio homes sold in the past twelve months gave $3,500 in seller subsidy. The other nine have not given anything. Buyers are having to make very strongs offers with few, if any, requests of the seller to be chosen in this seller’s market.

Days on market has been fast for the last year. The six month average actually ticked up one day compared to the twelve month average. Five or six days to sell a Braemar Patio home is super fast.

If you placed your Braemar Patio home on the market, priced to current conditions, you could expect to be under contract in less than one week. You could also expect to give nothing in closing cost help if your home is well prepared and ready for market.

The next Braemar Patio Quarterly will be out in October. Until then, if the need arises to sell your Braemar Patio home, get in touch with me. It continues to be a pleasure to help Braemar sellers get the maximum the market will allow, even a seller’s market, with the proper listing preparation and 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
www.ChrisAnnCleland.com

Braemar Condo Quarterly: April-June 2021 (Second Quarter)

Braemar Condo Quarterly: April-June 2021 (Second Quarter)

The second quarter of the Braemar real estate market is behind us, but it feels like it just started. Time is flying past in this insane seller’s market. In this edition of the Braemar Condo Quarterly I will go over the sales from the second quarter and give you six and twelve month break outs of average and median values to see how our Braemar Condo market is faring. Let’s get right to it.

There were four Braemar Condos that sold in the second quarter. The details of those sales are listed below:

In the second quarter sales, we have a nice collection of varioius Braemar condos. Those with and without garages, two and three bedroom models, and interior and exterior models. Sold prices ranged from $340,000 to $380,000. What does that mean in the grand scheme of things? Let’s take a look at our six and twelve month data points.

The six month average sold price and six month median sold price are both MUCH higher than their respective twelve month values. This means that Braemar Condos have been gaining values in the last six months. And will likely continue to increase if the buyer demand holds up.

It is no surprise to see seller subsidy (closing cost assistance from seller to buyer) at zero in both six month values. The only value that has a bit of seller subsidy is the twelve month average. Even at a little over $1,800, it is isn’t much. Buyers are having to forego many requests, including cost cost assistance, to win in multiple offer situations.

Days on market shows stability, with only the twelve month average of seven days falling to five days in the six month average. It is continuing to take about a week or less to sell a Braemar Condo.

If you placed your Braemar Condo 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 land a buyer with no need of seller subsidy.

The next Braemar Condo Quarterly will be out in October. Until then, if you have been considering the sale of your Braemar Condo, get in touch with me. Having your property well prepared and professionally marketed is what creates the buyer enthusiasm that drives up demand and prices…even in a seller’s market. It is what I have been doing for Braemar sellers for many years. 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: March-April 2021

12858 Wishing Well Way Sold for $425,000 on 4/5/21

Braemar Townhouse Report: March-April 2021

Today I bring you the most recent Braemar Townhouse Report. This report looks back on the months of March and April this year for the most recent sales of traditional Braemar townhouses and updates six and twelve month value points so we can see how our market has changed. Before we begin, a traditional townhouse is one attached only side by side, has three level and a back yard. Knowing the type of townhouse included in this report, let’s get right to it.

There were fifteen sales of Braemar townhouses in the last two months. Details of those sales are listed below:

First thing you may notice is a sale highlighted in pink. That’s because it was my listing. And if I may say, my seller made out very well. She sold for $31,000 above list price for the third highest sold price of this reporting period. Why not the highest? She had no deck, no fence, an original kitchen, original roof and sunken driveway. What she DID have was brand new LVP flooring on the main level, new carpet, fresh neutral paint and new HVAC. Getting her home well prepared for showings and professionally photography created the buyer enthusiasm that lifted her sold price above where it would have been otherwise. I say that because townhouses that were more updated sold for less because the marketing/photography was lacking. I am not a listing agent that “mails it in.”

The second thing that you will visually notice is zeros all the way down the column in seller subsidy. This means no townhouse sellers gave anything to buyers for closing cost help.

Finally, days on market shows single digits in all but one townhouse sale for the current reporting period. Cell phone photos never do a home justice. This one was gorgeous. And unfortunately, it sat for longer than it probably should and likely, sold for less than it should. Who you hire matters, even in a seller’s market. In this deal, a contract fell through and the property had to go back on the market, making buyers fear something was wrong with it. That’s why vetting offers is so important, as is having a ratified back up offer to go to. You better believe my listing had a ratified back up offer.

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

Starting with the sold price column, it is not a surprise to see the six month average and median sold prices higher than their respective twelve month values. This means Braemar townhouses are still going up in value.

Seller subsidy is a little surprising in that the average figures in both the six month and twelve month time frames actually has a value. Only twenty sales of the sixty-eight in the past twelve months have given seller subsidy. The most recent was in January this year.

Days on market shows the trend happening across the board in this seller’s market. Braemar townhouses are selling a matter of days.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect to be under contract in less than a week. You could also expect to land a buyer willing to go without seller subsidy and possibly a lot of contingencies like home inspection, radon inspection, financing and even appraisal. Buyers are having to be ultra competitive to win in multiple offer situations.

The next Braemar Townhouse Report will be out in July. Until then, get in touch with me if you would like to sell your townhouse. As illustrated above, you don’t have to be the best townhouse on the market to get one of the highest sold prices. Conversely, if you don’t take hiring the right real estate agent seriously, you could have a better townhouse and make less money. Well prepared properties that are professionally marketed get the biggest bucks and I’ve been helping Braemar sellers with that for many years. 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: January-March 2021 (1st Quarter)

Reflection Series Home

Braemar Reflection Quarterly: January-March 2021 (1st Quarter)

Bringing up the rear of my Braemar quarterly market reports is the Braemar Reflection Quarterly for the first quarter of 2021. Reflection homes are single family homes located only off of Tarvie Circle and are attached to one neighboring home at the garage.

This report is going to be fairly quick. There were no sales of Braemar Reflection homes in the first quarter. And since during the last four quarters there were only two sales in the fourth quarter of 2020, our six and twelve month value points are identical when updated for this report.

Since all of our values are the same, let’s talk market generalities. Sold prices are climbing across the board. It’s not unusual for homes to be listed reasonably against recent homes sold and still get escalated seven to ten percent above list price with buyers waiving all contingencies.

Seller subsidy is no longer a consideration for any serious buyer looking to get under contract. Highest and best offers in multiple offers need to be clean and ask for nothing, including closing cost help, to even have a shot a winning.

Days on market is most definitely single digits unless you have over priced or been poorly marketed.

If you placed your Braemar Reflection home on the market, priced to current conditions, you could expect it to under contract in less than a week and have to give nothing in seller subsidy.

The next Braemar Reflection Quarterly will be out in July. Until then, if a sale of your Braemar home is in the near future, be in touch with me. Even in a seller’s market, you can leave money on the table. Buyer enthusiasm is gained by being well prepared and professionally marketed, and that’s what gets you the highest price. 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 Piggyback Quarterly: January-March 2021 (1st Quarter)

Braemar Piggyback Quarterly: January-March 2021 (1st Quarter)

What a gorgeous Saturday to begin the month of May. This Braemar Piggyback Quarterly was supposed to be out in April, but the real estate market has been so slammed I had a hard time coming up for air. Today is a great day to do just that and bring you up to speed on the Braemar Piggyback market. Before we begin, it is useful to inform you what constitutes a Braemar Piggyback townhouse. They are attached back to back and side to side and are the only townhouses in Braemar with two car garages.

During the first quarter, three Braemar Piggyback townhouses sold. The details of those sales are listed below:

Not very common to see two exact same list prices two months apart, yielding the exact same sold prices. Taking these sales and combining them with the previous three quarters of Braemar Piggyback townhouse sales, our six and twelve month data points are updated as follows:

Starting with the sold price column, we see generous increases in both six month average and six month sold prices compared to their respective twelve month values. This means that Braemar Piggyback townhouses are continuing to gain in value. Exactly what we would expect to see in a seller’s market.

The seller subsidy column is where we find out how much closing cost help Braemar buyers were able to negotiate from their sellers. I am not at all surprised to see both the six month average and six month median seller subsidy figures at zero. If things keep up at the pace they have been, that twelve month average will be zero before too long. To compete in multiple offer scenarios, Braemar buyers are having to forego a lot of concessions and contingencies just to be chosen.

Days on market in the six month average and six month median are the same at five days. Both are improvements over their twelve month counterparts, but the average value is the one that got cut in half in the most recent average. Braemar Piggyback townhouses are selling fast!

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 a week. You could also expect very clean offers from buyers who will be highly unlikely to request any closing cost help.

The next Braemar Piggyback Quarterly will be out in July. Until then, if you have been considering the sale of your Braemar home, get in touch with me to find out how being prepared and professionally marketed gets you even more than you could have imagined in a seller’s market. 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 Patio Quarterly: January-March 2021 (1st Quarter)

Braemar Patio Quarterly: January-March 2021 (1st Quarter)

What a strange weather day Bristow experienced today. The wind gusts were down right troubling at points in the late afternoon, but now the sunshine is breaking through.

The Braemar real estate market has been experiencing gusts of its own. Today I spent time with two buyers, trying to get them under contract on listings. You have to be there the day a home hits the market with loads of cash in hand and no contingencies in your offer. At least, that’s what I’m seeing.

In the latest Braemar Patio Quarterly, focusing on the first quarter of 2021, we take a look back and see what happened in the Braemar Patio home market. Patio homes are also known as quad style townhouses, attached on the side and back. They have single car garages, two levels, HUGE bedrooms and loads of storage space for an attached home.

In the first quarter, there were two Braemar Patio homes that sold. The details of those sales are listed below:

The first thing you may notice about these two sales is the big difference in final sold price between the two Patio homes. One was a four bedroom, three and a half bathroom Patio home. The other a two bedroom, one and a half Patio home. There is a major functional difference in these homes, especially considering the main level bedroom and bathroom of the four bedroom Patio home.

Taking these two Braemar Patio home sales and combining them with the previous three quarters of Patio home sales, our six and twelve month data points are updated as follows:

Starting with the sold price column, we see both the six month average and six month median have substantially increased compared to their respective twelve month values. This means that Braemar Patio homes are continuing to increase in price.

Seller subsidy is where we learn how much closing cost help buyers were able to negotiate from Braemar Patio home sellers. Both six month values are at zero. Only the twelve month average seller subsidy has a value that isn’t zero, coming in at $389. Clearly, in order to be competitive in this seller’s market, buyers are having to ask less of sellers in hopes of getting under contract.

Days on market, down the line, is five days. Braemar Patio homes have been selling quickly for the past year.

If you placed your Braemar Patio home 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 give nothing in closing cost help.

The next Braemar Patio Quarterly will be out in July. Until then, if you have been considering the sale of your Braemar home, get in touch with to learn how being well prepared and professionally marketed matters even in a seller’s market. Since 2005, No One Knows Braemar Bettter!

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