Everyone Wants to Be Home for the Holidays

Everyone Wants to Be Home for the Holidays

There is something magical about this time of year.  The approach of Thanksgiving, Christmas and New Year’s Eve put a palpable electricity in the air.   You feel it at the grocery store, the mall and even in the real estate market.

Most people don’t believe it, but November and December are great times to sell your Braemar home.  There are families that are always relocating to our area.  And even some native Northern Virginians just get the bug to be HOME for the holidays.

Purchasing a home this time of year is a great event.  The big problem is that sellers tend to hold off for the spring market.  This means fewer homes to choose from, which actually puts the advantage of negotiations in the sellers’ hands. 

If you have been thinking of putting your Braemar home on the market, I can assure you there are buyers out there just waiting to snatch it up before the end of the year.  Call me for a free market analysis of your Braemar home’s value and I’ll tell you all about the historical price bump we see this time of year.  Remember, no one knows Braemar better!

Chris Ann Cleland, Associate Broker-Licensed in VA, Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com, www.NVARealEstate.net, www.SpeakingOfHomes.net

What Can Braemar Buyers and Sellers Expect When Dealing with a Short Sale?

What Can Braemar Buyers and Sellers Expect When Dealing with a Short Sale?

 Braemar buyers and sellers have many questions when it comes to Short Sales.  And as a Northern Virginia Short Sale Agent that’s been listing and selling Short Sales since 2007, I have answers.  These answers are specific to the experiences I have had since my first Bramear Short Sale in the fall of 2007.  I have been tracking my Short Sale statistics, and they reveal some interesting answers.

First question most people have when it comes to a Short Sale is:  What percentage of market value will a Short Sale Bank accept?  That answer is one I usually answer by my gut with a quick 95%.  Looking at what percentage of list price my Short Sale listings garner when they sell says my gut is right on target.  For starters, I don’t price my Northern Virginia Short Sales below market value.  I don’t see the point.  Banks want market value.  So when I see that my Short Sales are selling for an average of 98%, I am not surprised in the least.  By the way, the lowest percentage of list price one of my Short Sales sold for is 92%.  Highest is 110%.

The second most popular question when it comes to Short Sales comes from sellers:  How many days does it take to get a Short Sale under contract?  Short Sale Sellers often worry that getting their home under contract will take six months because buyers will avoid their home because of the Short Sale aspect.  On average, my Short Sale listings go under contract in 41 days.  That’s about six weeks!  And the median time frame is 22 days. 

The third question is a critical one:   How many long does it take to get a Short Sale approvedAgain, there is a ton of bad news in the marketplace.  I am here to tell you that on average, my Short Sales get approved 60 days after the contract is written.  That’s a number that comes from both one loan and two loan Short Sales.  If I break those numbers out, one loan Short Sales get approved in an average of 48 days.  Two loan Short Sales get approved in an average of 58 days.  The news is not nearly as bleak as you think…at least when you are dealing with an experienced Northern Virginia Short Sale Agent.

The final question is just as critical as the third:  How long does it take for a Short Sale to go to settlement?  This answer obviously includes the time frame it takes for approval and then some.  Typically, buyers will not have their inspection, or start their loan processing until a Short Sale is approved.  Generally, a Short Sale contract will allow a buyer 30 days from approval to get to settlement.  On average, from contract to closing, my Short Sales take 85 days. 

So there you have it.  All the answers to Short Sales you wanted.  But remember, those are statistics specific to MY Short Sale business.  So if you want these results, give me a call.

Chris Ann Cleland, Associate Broker–Licensed in Virginia, Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

What Can You Buy in Braemar for Under $350,000?

What can a Buyer expect to get for under $350,000 in Bristow’s community of Braemar?  Well, a quick MLS (Mulitple Listing Search) of the neighborhood reveals a few things. 

If you wanted to go really far below $350,000, you will find townhouses.  Townhouses without garages sell in the price ranges of $210,000-$250,000.  Of course, if you prefer a two car garage, you can always buy a piggy back townhouse around $230,000-$250,000.  That means you’ll have no backyard and if you’re an interior unit, only have windows on the front of your home.

But what about a single family home?  Can you get one in Braemar for under $350,000?  Sure!  You’ve got a few options there too.  In the $280,000 range you can have a smaller single family home (known as a Carriage home) without a garage. 

Still need that garage?  Try this on for size.  A Courtyard home with 3,260 finished square feet.  It’s got a two car attached, front load garage and BIG bedrooms.  It’s located at 10033 Pentland Hills Drive and is priced at $327,500.  The Master Suite is 20 ft. x 13 ft and that doesn’t include the luxury bathroom or walk-in closets.  The next largest room is 16 ft x12 ft.  The smallest bedroom is 11 ft. x 10 ft.  There’s another full bathroom up here too.  And did I mention the laundry room is on the bedroom level?

The main level floor plan is contemporary with the granite counters in the kitchen overlooking the family room and it’s gas fireplace.  There’s even table space for a breakfast area.  You’ll also enjoy the hardwood floors in the kitchen.  And just off the family room is the first of two composite decks.  Formal living and dining rooms, at an angle to one another, add to the contemporary feel of the home. 

Basement is mostly finished with a large recreation area that has a walk out exit to the brick paver walkway that walks you around the lower level composite deck.  The second deck above, makes this one covered and great for outdoor enjoyment on a sunny, hot day.  There’s even a full bathroom in the basement.

So let’s see….you can get three bedrooms, three full bathrooms, a two car attached garage, two composite decks, kitchen with hardwood floors and granite counters, and a finished basement for only $327,5000.  And that’s not a Short Sale either.  The owners can give you an answer within 24 hours as to whether or not your offer is acceptable.

Along with all the amenities of Braemar, you will enjoy having basic cable and internet included as part of your HOA dues.  The only thing you are giving up is a large yard, but that just means more maintenance in the long run.  So what are you really losing?

To make an appointment to see this outstanding value in Braemar, contact the listing agent: Chris Ann Cleland, Associate Broker with Long & Foster REALTORS® , 703-402-0037.