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

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

Winter was definitely feeling a bit too mild there at the turn of the New Year.  With today’s wintery mix, Mother Nature sends us a reminder of what she can throw our way.  I’ll be staying inside the comfort of my own Braemar home today and sharing with you the latest Braemar Property Value Report for the Carriage Series homes in our neighborhood.  For those unfamiliar, Carriages homes are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

There were two Braemar Carriage homes that sold during the last two months of 2019, and I am very pleased to have represented the sellers of one of those sales, 13236 Daldownie Court.  That’s the reason that sale is highlighted in pink, in the details of those two sales below.

Taking these two most recent sales and combining with all the Carriage home sales from 2019, we get updated six and twelve month data points that clue us in as to what is happening in our marketplace.

Let’s start by looking at the sold price column.  Here we see that the six month average sold price is slightly lower than the twelve month average sold price.  Meanwhile, the six month median sold price is higher than the twelve month median sold price.  At worst, Braemar Carriage home values are stable, but just the knowledge I have from dealing with the sale of 13236 Daldownie, they seem to be increasing in value.

Next up we see that the seller subsidy figures (closing cost assistance to buyers) is higher in both the six month average and median compared their twelve month counterparts.  This means Braemar buyers have been asking for, and receiving, more closing cost help in recent sales.

Finally, days on market shows mixed data.  The six month average marketing time is five days shorter than the twelve month average marketing time.  Meanwhile, the six month median marketing time is three days longer the twelve month median marketing time.  These aren’t big changes either way, so for now we can call marketing time stable.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in about two weeks time.  (Of course, if you hire me to be your Listing Agent, you may be under contract in a lot less time, judging by the three day marketing time achieved on 13236 Daldownie.)  As for seller subsidy, you could expect to pay about 1.5% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in March and show us how we started 2020.  Until then, if you have been thinking that the 2020 spring market may be the time for you to sell your Braemar Carriage home, don’t wait for Mother Nature’s version of spring.  The Braemar spring real estate market comes to life a lot earlier than the flowers, trees and grass.  Give me a call to find out how to maximize your profit when you sell.  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 in Time for the Holidays, Another Braemar Carriage Home Sold

Just in Time for the Holidays, Another Braemar Carriage Home Sold

One one month ago today I listed 13236 Daldownie Court, a three bedroom Norwood model Carriage home for $429,000.  It didn’t take long for the buyers in the marketplace to respond.  The sellers had two offers within two days on the market.  Year end demand is not unusual in our Braemar real estate market.

After an uneventful home inspection and appraisal, the only issues left to resolve for the buyers were HOA covenant violations.  Yes, complying with HOA violations is a necessary thing for sellers in any HOA community.  And even though there the sellers didn’t technically violate any covenants, the bookkeeping with the on-site community management is far from the greatest.  These sellers were violated for a retractable awning that the Braemar Community Association said there was no need to apply for, back in the day,  as long as it matched the exterior trim or siding.  The other violation was having flagstone pavers put in by the builder.

What a reasonable person sees as logical, and can prove, is tossed aside by the covenants administrators.  They like applications on file.  So the sellers filled out an application for both and were in compliance.  A grand waste of time, but I did advise the buyer’s agent that the new owner should hold onto the HOA abatement letter stating the items were in compliance.  Heaven knows they will get violated again when it is their turn to sell.

Today, December 6th (2019) this Braemar Carriage home sold for $430,000.  The buyers were fortunate to get some closing cost help, but less than half of what they had requested.  That’s what happens when lack of inventory puts buyers in competitive situations.  Closing cost help requests are negotiated down, or aren’t even made.

If you have been considering the sale of your Braemar home, don’t think there is only one season that will bear out a favorable sales price.  I sell Braemar homes for top dollar all year long.  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 (Carriage Series)

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

There is something so beautiful about the the fall and winter sun. The sunbeams streaming through my windows in the morning this time of year seem so much more substantial. That is all due to the sun hanging lower on the horizon.   Of course, the low position of the sun in the sky can be very dangerous for those heading west in their afternoon commutes.  Where there is a plus, there is a minus.  It’s the same in real estate, which is ultimately what I’m here to talk to you about.

This is the Braemar Property Value Report for Carriage homes in our neighborhood.  In this particular edition we get a chance to see what happened in September and October and how that is shaping the over all Carriage home real estate market trends  If you don’t know what homes fall in the Carriages Series, they are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

In our current reporting period, there were six Braemar Carriage homes that sold.  When you get a look at the details of those sales below, you will see a very tight grouping of sold prices.  Not unusual since all but one of these homes were three bedroom Norwood models.  Only one four bedroom Parkdale (the largest of the Carriage homes) is in this list.  Unfortunately, either its condition or the the location directly backing to the two power transmission lines did not even get its final sold price higher than the smaller Carriage homes that sold around the same time.

Combining all six of these sales with the rolling twelve months of past Carriage home sales our six and twelve month data points are updated.  This is where we get a sense of our trends.

Looking first to the sold price column, we see that both the six month average and median sold prices are higher than their twelve month respective values.  This means Braemar Carriage homes are continuing to push up in value.

Next we turn our attention to seller subsidy (a.k.a. closing cost help to buyers.) Here we see another seller favored trend.  The seller subsidy in the more recent values, six month average and median, are less than the twelve month counterparts.  Buyers in the Braemar Carriage home market are facing more competition, which means they have to lean out their requests to get under contract with sellers.

Last, but not least, we get to days on market.  This is an important value because when you put your Braemar Carriage home on the market, you want to know how long it is going to take to sell.   Looking at the six month average and median marketing times we see that they are both shorter than their respective twelve month data marketing times.  Braemar Carriage homes are selling faster!  Even my most recent listing of 13236 Daldownie Court , listing in November, received two offers in two days!

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it be under contract in less than two weeks…or sooner.  You could also expect to pay about 1% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in January.  Until then, I wish you every happiness this holiday season.  As always, if the need arises to sell your Braemar home, no matter the season, give me a call for the absolute best results.  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

 

 

Under Contract Before I Could Tell You It Had Just Listed

Under Contract Before I Could Tell You It Had Just Listed

On November 6th (2019) I activated the MLS listing for 13236 Daldownie Court When I met the sellers of this Norwood model Braemar Carriage home I could not have been more excited.  First of all, I love selling homes during our year end market.  Often times sellers don’t believe exactly how strong the year end market can be.  As I have stated over and over again, home buying is an emotional process and being “home for the holidays” is most certainly a real thing.  Secondly,the curb appeal of the Carriage homes on Iona Sound Drive pulled me into buying in Braemar.  It is a vivid memory, my husband and I driving around the neighborhood, looking at holiday lights and just falling in love with the neighborhood.  Braemar Carriage homes could not be more charming if they tried, but add a dusting of snow and some holiday lights and they look like model homes you would see under a Christmas tree.

As a Norwood model priced at $429,000, this home was sure to get attention right out of the gate.  Taking a quick look at the surrounding Bristow market and what was available in a single family home with three bedrooms for this price, well, the closest competition was a one car garage home in Kingsbrooke.  With the detached two car garage and three parking space wide driveway, this home already had a leg up on that home.

Of course, it had the three bedrooms and two and a half bathrooms on the upper level, one each making up the master suite.  And it had finished recreation space in the basement.  While it didn’t have fancy finishes in the kitchen, it did have a main level mud room, which I wish I saw more often in Norwood models.  I also boasted a cul-de-sac lot backing to a berm with an attractive tree line.  Stand on the deck, complete with a retractable awning, overlooking a white picket fenced yard and it was hard to imagine a scenario where this home didn’t get someone’s attention.

Out of the barrage of showings the first day, we received an offer.  While reviewing that offer on the 7th, there was a showing happening that resulted in yet another offer on the 8th!  Multiple offers in November?  Yes!  There are buyers out there right now looking for homes like this three bedroom Carriage home.

In only two days and this home was under contract.  It will closing in December, so stay tuned for final details.  In the meantime, if you or someone you know has been considering the sale of their Braemar Carriage home, give me a call and learn the strength of professional marketing coupled with our year end market.  There is still time to hit the “home for the holidays” mindset.

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

 

Since 2005, No One Knows Braemar Better!

 

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

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

There is no question about it–fall is here.  Overcast, low temps and the hint that leaves are changing color.  With summer behind us, let’s take a look at the most recent Braemar home sales in the Carriage Series. If you don’t know what homes fall in the Carriages Series, they are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

There were three Carriage homes that sold in July and August.  The details of all three sales are listed below:

Oddly, the lowest sold price at $376,000 was the largest home, but it was a home that had been vacant for over five years and finally sold as a foreclosure.  The sale highlighted in pink was my listing, and for a three bedroom Carriage home, it got a fantastic price.

Taking these recent sales and combining them with the last twelve months of Braemar Carriage home sales, the updated six and twelve month values give us insight as to market conditions.  Below are the updated values.

Looking first at sold prices, we see that both the six month average and median sold prices are above their respective twelve month sold prices.  This means Braemar Carriage homes are still pushing up in value.

Seller subsidy, also known as closing cost assistance to buyers, is going down.  The six month average is below the twelve month average.  And the scant amount we saw in the twelve month median is now zero in the six month median.  Buyers are minimizing their closing cost requests to get under contract in this seller’s market.

Days on market, which I call marketing time, shows that both six month values are lower than their twelve month counterparts.  This means Braemar Carriage homes are selling faster.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement, in about two weeks.  You could also expect to pay less than 1% of the sales price in closing cost assistance.

The next Braemar Property Value Report will be out in November.  Until then, if you have been considering the sale of your Braemar Carriage home, don’t under estimate our fall market.  There are still serious buyers out there and very little competition.  Give me a call to learn all about the advantages of our fall 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

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Braemar Carriage Home SOLD… Again

Four years ago, September 29, 2015 to be exact, I sold the Norwood model at 13174 Kirkmichael Terrace Though the buyers that ended up purchasing the home did come through my open house, they had an agent that they were working with.  Even if they had not a buyer’s agent, my business practice is to NEVER do dual agency, which is representing both sides of the transaction.

In June this year (2019,) I was pleasantly surprised to get a call from those buyers that became the owners of 13174 Kirkmichael Terrace.  They were interested in selling and wanted to hire me.  They had been impressed with my professionalism during their purchase.  Staying in touch with my Braemar Property Value Reports was helpful, but what sealed the deal for my being their future listing agent happened at the closing table during their purchase of the home in 2015.  They recounted to me that when they were twenty dollars short to purchase a home warranty, and had no checks or cash to make it up, I reached into my wallet and handed the attorney a twenty dollar bill.   I don’t recall this gesture, but they will never forget.

Fast forward to the current listing, which I was thrilled to get.  They had certainly improved the home with granite counters, stainless appliances and lots of smaller updates to lighting and fixtures.  We looked at the comps and listed on June 15th for $435,000.  Our price was on the upper end of the comparable sales, but I don’t back down from the chance to sell for as much as possible.  That is my job.

The first two offers on the home were not bad, but were far from fantastic.  Being a sellers market, the sellers felt there were better offers ahead, so they passed..  The third offer was the charm and only took two weeks to come in.  The buyer gave the sellers what they wanted in price and what they needed in terms of closing date.  After all, the sellers were also going to be buyers and needed time to find a home.

This Norwood model at 13174 Kirmichael Terrace sold (again) for $437,000 on August 9th, 2019.   

If you have been wondering what your Braemar home is worth in the current market, give me a call.  Getting the market max for your Braemar home is what I do best.  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 (Carriage Series)

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

It is time for another Braemar Property Value Report, featuring the latest sales of Braemar Carriage homes If you don’t know what makes a Braemar Carriage home a Carriage home, they are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

During the months of May and June, there were nine Braemar Carriage homes that sold.  Final sold prices ranged from $415,000 to $460,000.  The details of each sale are listed below.

Combining these sales with the entirety of the last twelve months of Braemar Carriage home sales gives us an opportunity to check out our refreshed six and twelve month data points.  Here’s what they look like:

Starting with sold price, which ultimately is top of every Braemar Carriage home owner’s mind, we see that both the six month average and six month median sold prices are above their respective twelve month values.  This means that Braemar Carriage homes are continuing to push up in value.

Looking at seller subsidy, which is also known as closing cost assistance to buyers, we see more good news for Carriage home owners.  The six month average seller subsidy is slightly below the twelve month average.  Meanwhile, the six month median seller subsidy is one-fourth the amount in the twelve month median.  And just looking above the most recent nine sales, five of nine sales gave absolutely nothing in closing cost help.  As more buyers compete for fewer homes, their closing cost requests are shrinking or going away entirely.

Finally, we come to days on market.  As you may recall, our region switched to a new MLS in November 2018.  The new MLS has a contract status that stops counting days on market a little further into a transaction, not when the property goes under contract.  It has another contract status that stops counting days on market as soon as it goes under contract.  Our previous MLS stopped counting days on market as soon as any contract status was chosen.  As such, we have a mish-mash of data and unreliable marketing time information.  This report indicates that the average days on market is increasing slightly, but median days on market is decreasing.  We won’t have an accurate gauge on this until January 2020.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement in about three to five weeks.  You could also expect that if you had a closing cost request, it would be minimal.

The next Braemar Property Value Report will be out in September.  Until then, when you are preparing to sell your Braemar Carriage home, give ma a call for the most accurate analysis of your home’s value, as well as the most thorough and professional marketing plan.  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

 

 

How Long Does It Take a Three Bedroom Braemar Carriage Home to Go Under Contract?

How Long Does It Take a Three Bedroom Braemar Carriage Home to Go Under Contract?

When sellers list their homes they want to know how quickly their home is going to go under contract.  At the time that I met with the seller of 13174 Kirkmichael, three bedroom carriage homes in Braemar were going under contract in thirty-two to thirty-seven days.  One went under contract in as little as four days.

The seller had identified a home he was interested in pursuing, so listing prep was quick.  Time was of the essence to get this done.  The seller did a fantastic job removing items from the home to de-clutter and show the space buyers would be purchasing.  It was also fantastic that the seller was very cooperative with showing requests.

This Norwood model hit the market, priced at $435,000  on June 15th.  The first offer rolled in on June 17th.  However, the seller was not thrilled with it.  It came from a relocating buyer who may not have been familiar with our market and how it favors sellers.  When the seller countered, the buyer walked away.

There is a saying in real estate that your first offer is usually your best offer.  Not in this case.  Four days after hitting the market, another offer appeared, better than the first.  However, that agent and buyer didn’t seem to get why we could not accept an offer with a contingency to sell the buyer’s home.  My seller needed a clean purchase contract.  The listing agent on the home he had identified advised there could not be multiple homes that had to sell to make the final purchase happen.

Showings were still fast and furious, so we waited.  On June 27th, the seller got an offer that beat the previous two.   He was thrilled and accepted the offer that night.

How long it takes to get an offer on a three bedroom carriage home in Braemar may be different than how long it takes to go under contract.  In the case of 13174 Kirkmichael Terrace, it was only two days before the first offer arrived, but thirteen days before the RIGHT offer came in and became an accepted contract.  The more specific your needs in an offer, the longer it may take.  However, even in this case, this listing beat the average and median marketing time for Braemar three bedroom carriage homes.

When you are ready to sell your Braemar home, give me a call for the best results.  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: Three Bedroom Norwood Model for $435,000

Just Listed: Three Bedroom Norwood Model for $435,000

It is always an honor when a purchaser from one of my Braemar listings, who had been represented by another agent, calls ME up when the time comes to sell that Braemar home.  My knowledge of the Braemar real estate market, professional marketing and in depth knowledge of our real estate contract must shine through.  My latest Braemar Carriage home listing is one of these cases.  I first listed 13174 Kirkmichael in the late summer/early fall of 2015.  Since then, the current owners have been quite busy making improvements and customizing their home.

The basics of the home are the same.  It is a three level Norwood model with a private driveway along the side of the home and a detached two car garage in the back of the home.  The back yard is fully fenced with plenty of yard to enjoy and a wood deck with a pergola off the kitchen.  The hardwood floors on most of the main level, with the exception of the family room, are still present.  Three bedrooms and two bathrooms upstairs include the master suite with an attached full bathroom dual sinks/vanity and a walk-in closet.  Secondary bedrooms sit on opposite sides of the second full bathroom, accessed by the hallway entrance. In the basement, a walk up exit and two finished areas along with a full bathroom.  The built-in bookcases are working great for a home office area.

 

What’s been updated makes the home different this go round?  For starters, there was a new roof installed in 2018.  That will make any interested buyer happy.  Inside, the kitchen and family room areas are most notably changed.  The kitchen now sports leathered granite counters, a tile back splash, stainless steel appliances and a cherry wood butcher block island.  Across from the kitchen, the ship lap style accent wall bring new life to the family room.

There is a nice use of colorful accent walls in this home.  Tones of dusty teal wrap the main level staircase walls. Upstairs, each bedroom has an accent wall.  And the powder room makes a bold statement with its stripes.  The good news for buyers is that, if this isn’t your style, paint is easy to change.

 

 

 

 

 

 

 

 

You can see all there is to see about this Braemar Carriage home, currently listed for $435,000 by clicking this this for the virtual tour.   If you don’t have an agent and would like to see it, give me a call at 703-402-0037.  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 (Carriage Series)

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

Here we are in the middle of May. School will be out before you know it.  Summer vacations are on the horizon.  And likely, there are some Braemar home sellers that will soon be hitting the market.  While we can’t predict what the market holds, we can look to the most recent sales history and see what has been happening.

Right now, it is time for the Braemar Property Value Report detailing sales of Carriage homes between the months of March and April.  Braemar Carriage homes are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

There were three Braemar Carriage home that sold between March and April.  Final sold prices ranged from $395,000 to $435,000.  The details of those sales are listed below:

Refreshing the six and twelve month data points by including these most recent sales into the rolling year’s worth of Braemar Carriage home sales, here is what we find:

Let’s take a look at the sold prices.  The six month average and median sold prices have fallen below the twelve month average and median sold prices.  Our last few reports have had conflicting trends when comparing these six month values to their twelve month counterparts.  One would indicate increasing values.  The other would indicate a softening of values.  While not a big difference, the fact that both six month values are below the twelve month values could be the beginning of softening Carriage home values.  We’ll only know when we get a look at the next Carriage home report.

Another trend that does not favor Braemar Carriage home seller is that seller subsidy (closing cost help to buyers) is higher in both six month values over the twelve month values.

Days on market (marketing time) gives us a mixed bag and still having apples to oranges comparisons until we get to the fall with one year’s worth of days on market data from our new MLS, these numbers may not be entirely reliable.  As they present, the six month average marketing time is longer than the twelve month average marketing time.  Meanwhile, the six month median marketing time is shorter than the twelve month median marketing time.  Rest assured, when it comes to figuring out long it will actually take to sell your Braemar Carriage home, I will calculate recent marketing times by hand during our listing appointment.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract, and well on the way to settlement, in three to eight weeks.  You could also expect to pay about 1.5% of the sales price in closing cost help to the buyer.

The next Braemar Property Value Report will be out in July.  Until then, let me know when you are getting ready to sell your Braemar Carriage home.  Maximizing your profits is a job I do very well.  It all comes from outstanding marketing, negotiating and unparalleled neighborhood market knowledge. 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