Braemar Property Value Report: July-August 2022 (NV Homes)

Braemar Property Value Report: July-August 2022 (NV Homes)

Since the early morning hours on this gorgeous, sunny fall Friday I have heard remarks that it is cold outside. I suppose this is our first fall feeling day, with daytime temperatures below seventy and very brisk winds. When you go about your routine expecting what you had yesterday and put on shorts, of course it feels cold. Being prepared for whatever the current day is bringing is better than being caught unaware. When it comes to our Braemar real estate market, I take my job as a full-time, top producing agent very seriously and make sure my neighbors are well prepared. It has become my mission since starting these Braemar Property Value Reports in 2005 to keep home owners in the neighborhood apprised of current market conditions.

Today’s Braemar Property Value Report is looking at NV Homes in our neighborhood. Simply put, those are the houses built by NV Homes. Just like the other reports this month that have preceded this one, the scope of current sales activity is July and August. During that time, there were three NV homes in our neighborhod that sold. Details of these sales are listed below.

For starters, it needs to be made clear that the list price column above is the original list price when a home hit the market. This is the price the market first saw. During our frenzied seller’s market dating back to 2020, listing agents have developed a terrible habit of changing list price to a higher than list price contract price before closing. This, in my opinion, is a terrible idea. A listing agent wouldn’t change list price to reflect a lower than list price contract price. Further, appraisers have access to the same information agents do. Appraisers can see WHEN a list price changes. Doing so after changing the status to reflect a home is under contract simply tells us all the price it has in a contracted sales price, awaiting appraisal. It does zero good to actually GET the value in appraisal.

In the current market, we are actually seeing significant reductions from original list price like the home that dropped it’s price $120,000. Why would a home not see for more? Amateur marketing photos that don’t create any buyer enthusiasm is one observation. Another would be stating you are selling a home strictly as-is. Advertising that is not a great idea. The final thought might be it was way over priced to begin with. Who knows? Regardless, the home that sold so low below its list price it is definitely a punch in the gut for NV home owners. Another slap comes from seeing $7,800 in closing cost help in another sale. And as the summer months wore on, you can see marketing time increased.

When these three sales are combined with the NV Home sales dating back to September 2021, the updated six and twelve month value points are updated as seen below.

The sold price column shows a tightening gap between the twelve month values compared to their respective six month values. This indicates prices are not increasing as much as they had been. The six month values being higher than their corresponding twelve month values still indicates values are increasing, but not by leaps and bounds.

Seller subsidy (closing cost help to buyers) is definitely higher in the average values than seen last report. As interest rates continue to rise and values climb, buyers are finding their affordability pinched at two ends. As a result seller subsidy is starting to be a more common request.

Days on market, despite some higher actual marketing times in the most recent sales is still single digits in the average and median values down the line. However, both six month values are longer than their respective twelve month values. The summer months are never known as a time to sell quickly. Buyers are more interested in fun in the sun that house hunting in July and August. Marketing times may pick up in the fall, but it does appear that we may be in an inventory building phase of the market, which would start to shift us away from a seller favored market. For now, conditions still favor sellers.

If you placed your NV home on the market, priced to current conditions in Braemar, you could expect it to be under contract in about two weeks or less. You could also expect to be dealing with one buyer at a time. The frenzy of multiple offers seems to have gone away in most circumstances. When it does occur, it is because a home is well prepared, priced right and professionally marketed. For now, it seems seller subsidy is not a foregone conclusion as a seller expense, but don’t be shocked if you encounter offers with it. The 30 year fixed rate mortgage was 6.5% today and 5.85% for jumbo loans.

The next Braemar Property Value Report will be out in November. Between now and then, I do hope you enjoy the show Mother Nature is about to put on with the changing of the leaves. And if you are considering a sale, there is never a bad time, or time too soon, to reach out for listing preparation advice or a check in on the market. Certainly, conditions change, but the way to hit the top of any market is to be well prepared, priced right and professionally marketed. My sellers are counseled on all and reap the rewards. Get in touch for your consultation. Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 
Associate Broker, Licensed in VA
Long & Foster Real Estate
703-402-0037, ChrisAnn@LNF.com
www.SellingBraemar.com
www.UncompromisingValues.com
www.ChrisAnnCleland.com

Braemar Property Value Report: May-June 2022 (NV Homes)

Braemar Property Value Report: May-June 2022 (NV Homes)

As I prepare the latest Braemar Property Value Report for NV Homes in our neighborhood, I realize that I have up close and personal knowledge of the majority of homes sold this go round. That means you will be getting more information than usual. Let’s get right to it.

During the months of May and June, there were three NV Homes in our neighborhood that sold. Details of those sales are listed below, but there is more than meets the eye on two of them.

For starters, the most obvious visual difference is that there is one sale highlighted in blue type. That is a sale where I represented the buyers. They were initially interested in the home at 12667 Arthur Graves Jr., despite the home showing in worn condition. At that time, when 12667 Arthur Graves Jr. was brand new to the market, it was priced at $795,000. My buyers were willing to go in full list price just for the size of the home. Mind you, at the time the sellers were offering a $15,000 credit to refinish the hardwood floors. Nonetheless, my buyers were waved off as they had a home sale contingency. Somewhere along the line, the deal for 12667 fell through after my buyers were under contract with the very well prepared 12689 Arthur Graves Jr. (Side note, the floors at 12689 also needed to be refinished, but the home was fresh and clean, staged and no credit offered. It was also a smaller home.)

When it comes to the first home on the list at 10029 Three Sisters, that home appears to have sold above list price just like 12667 Arthur Graves, but when you consider their original list price was $810,000, it is up to your own judgment whether it did or did not sell above list.

What I do know from the sales above is that the market is still busy in Braemar and there are more buyers out there than homes for sale. In both Arthur Graves Jr. homes, I had a front row seat to multiple offer scenarios. After my own buyers lost in the first go round at Arthur Graves Jr., I helped a colleague write an offer on 12667 in the second round of offers at the improved price of $765,000. The market isn’t crashing for well priced homes. Well prepared homes are still doing very well.

With all that information, let’s now take a look at our updated six and twelve month data points.

When it comes to the average and median sold prices, there is still upward growth from the six month values compared to their respective twelve month values. However, looking at the six month median lift above the twelve month median, the growth is not as exuberant as we saw last report. Still, upward growth continues in this seller’s market. Clearly, the way to get the most for your home is to make sure it is properly prepared and professionally marketed to increase buyer enthusiasm.

Seller subsidy (closing cost help to buyers) is a factor in both average values. In the last six months, two out of eight sellers gave closing cost help. In the last year, three out of sixteen gave closing cost help. Take heart in knowing that way more than half of sellers in both time frames gave nothing. Not only does proper preparation help your bottom line, but so does skilled negotiation.

Days on market is a little higher down the line compared to last report, but day one and two days. NV Homes in Braemar are selling very fast.

If you placed your NV Home on the market, priced to current conditions, you could expect it to be under contract in a week, maybe two. It may take a little longer in July and August. Sellers think this is the best time to sell since kids are out of school. Buyers are worn out and are more focused on vacation and summer fun. As mentioned above, seller subsidy seems to be more an issue with homes not properly prepared or professionally marketed. And while there are still instances of multiple offer situations, buyers are acting more deliberately these days. Sellers still have the upper hand. Just be prepared to see the typical contingencies in your offer(s.) Home inspections are rarely waved lately and low appraisal guarantees are all but forgotten.

The next Braemar Property Value Report will be out in September. Until then, when it is time to sell your Braemar home, don’t rely solely on market conditions for the best outcome. Reach out to me for your complementary consultation. I will be happy to show you what proper preparation and my professional marketing can mean to your bottom line. It is my pleasure to get my Braemar sellers the top of 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 Property Value Report: March-April 2022 (NV Homes)

Braemar Property Value Report: March-April 2022 (NV Homes)

What a gorgeous, sunny weekend! Summer is just around the corner, but the temperatures today make it feel like it is in full swing already. Before we get too far removed mentally from spring, let’s take a look back at the Braemar real estate market as it relates to houses built by NV Homes in our neighborhood. In this edition of the Braemar Property Value Report, we look back to the sales activity from March and April and check in on our updated six and twelve month data points.

There were two NV homes that sold between the beginning of March and end of April. Their sold prices are vastly different at $675,000 and $799,900.

How does a home with more square footage, an additional bathroom and loft level sell for $124,000 less than its competitor? The obvious answer to me is that it never hit the open market, instead taking a sight unseen offer. It sold from coming soon status. This happens sometimes when the sellers don’t want to be troubled with showings. However, if you put a price tag on what showings might mean to their bottom line, sellers will often bite the bullet and go to market. It is unlikely that an unfinished basement vs. a finished basement in Braemar has hit a delta of $124,000. Typically, that difference is a max of $40,000 or $50,000. It could also be that the home would not have shown well and selling from coming soon status was a blessing. We will never know why, we will only know that that a cul-de-sac lot home with four levels, one of which being an unfinished basement, sold for a lot less than a smaller, somewhat updated competitor.

Taking the past twelve months of NV home sales dating back to May 2021 to April 2022, our six and twelve month data points are updated as seen below.

Starting with the sold price column, we see that both six month sold prices are above their respective twelve month values. This means that NV homes in Braemar are continuing to gain value, despite the early year mortgage interest rate increases.

Seller subsidy (closing cost help to buyers) is zero in all values except the twelve month average. This is a result of one NV home seller out of thirteen in the past twelve months that gave $2,300 in closing cost help. Likely this was a credit in lieu of requested repairs. Certainly, with limited inventory continuing, buyers must write seller favored terms to have their offers accepted.

Days on market, though showing the most minimal increases in both the six month values compared to their twelve month counterparts, remains in single digits. NV homes are continuing to sell fast.

If you placed your NV home on the market, priced to current conditions, you could expect it to be under contract in less than one week. You could also still expect to give nothing in closing cost help. That may change if mortgage interest rates continue to increase. For now, they are steadied out around five and a quarter percent.

The next Braemar Property Value Report will be out in July. Until then, I hope you enjoy all kinds of sun in the fun. Of course, if the need to sell your Braemar home arises, I would love to consult with you and show you what my proven listing process can do to increase your bottom line buy stepping up buyer enthusiasm. 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 Property Value Report: January-February 2022 (NV Homes)

Braemar Property Value Report: January-February 2022 (NV Homes)

On this St. Patrick’s Day 2022, I bring you the Braemar Property Value Report for NV Homes in our neighborhood. This edition looks back to the sales from January and February 2022. We also will get the opportunity to get market trend info from our updated six and twelve month data points.

There was only one NV Home that sold in Braemar during the first two months of the year. Details are listed below:

Immediately my agent eyes go to the biggest stand out factor. This NV home sold for over $50,000 more than its list price. The buyer frenzy that had quieted a bit in the second half of 2021 is back. I’ve witnessed it with my own Listing Agent eyes. Let’s see what market trends can be deciphered from the updated six and twelve month data points, which include NV Home sales in Braemar going back to March 2021.

Starting first in the sold price column it is great to see both six month values higher than their respective twelve month values. NV Homes in Braemar continue to push up in value as we progress through this seller’s market.

Seller subsidy is where we find out how much closing cost help Braemar buyers were able to negotiate from the NV Home sellers. With only the twelve month average having a value more than zero at $153, the answer is very little. Looking at the raw data of the fifteen sales of NV Homes in the past twelve months, only one seller gave any seller subsidy at all.

Days on market, while two to three days longer in the six month values compared to their respective twelve month values, is nothing alarming. In general, NV Homes are selling very quickly.

If you placed your NV Home on the market, priced to current conditions, you could expect your home to go under contract in less than a week. You could also expect to pay nothing in seller subsidy as so many buyers are out competing for very little available homes.

The next Braemar Property Value Report will be out in May. In the meantime, if the need arises to sell your home, I would love the opportunity to consult with you. Selling in a seller’s market is not a guarantee of making the max the market will bear. Sadly, I see observe sellers leaving money on the table every time I log into the MLS. My listing process is one that never cuts corners or gets lazy, relying on market conditions to do the work for me. Preparation and professional marketing are key to creating the essential ingredient to max profit--buyer enthusiasm. Skilled negotiation comes into play when vetting multiple offers and working with the buyer you choose. Consultations are confidential and free. Reach out and let’s schedule a conversation. 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 Property Value Report: November-December 2021 (NV Homes)

Braemar Property Value Report: November-December 2021 (NV Homes)

Happy New Year, my fellow Braemarians. There is no doubt that many of you are wondering what the 2022 real estate market has in store for us. My experience in the market as top producing agent, as well as the time I take to create these market reports, keeps me head and shoulders above my colleagues. Most agents are happy to cut and paste statistics, some without even reading them. I take the time to collect the sales data and compile these reports myself. Real estate is a business of self-motivation. We are not required to do anything to keep our businesses going but to complete continuing education classes. I do these reports because I believe in keeping myself and my neighborhood informed.

This Braemar Property Value Report is focused on houses built by NV Homes. The sales detailed below are from the last two months of 2021.

The first thing I noticed about this sale was that the list price had been changed to match sales price AFTER it went under contract. This is a practice a lot of listing agents started to use in our crazy seller’s market in hopes of getting homes to appraise for sky high prices. I am not in agreement with the practice, only because I was trained by appraisers. They have all the same information I see in the MLS. You can’t fool them with a price increase. The best way to get a house to appraise is to have an appraiser package ready with comparable sales and lists of updates. I included the original list price above. It closed for $50,000 above in its sales price. Obviously, Braemar home sellers are still enjoying our seller’s market.

Taking all the NV home sales from 2021 and updating our six and twelve month data points, we get the best sense of how our market has been trending in the short term, compared to the long term.

Starting with the sold price column it is fantastic to see both six month values above their respective twelve month values. This means NV homes in Braemar are still gaining value. Not surprisingly, as the second half of 2021 cooled the all-out buyer frenzy we had been experiencing since early 2020, the growth rate slowed a bit. I figure that out by dividing the six month value by its respective twelve month value. In this report, the six month average growth rate was 3.1% and the six month median growth rate was 1.4%. Last report, those numbers were both 3.5%. Growth is growth. This year should see more, but at a more sustainable rate.

Seller subsidy, also known as closing cost help from seller to buyer, is super low in the averages and non-existent in the medians. The latter is more important. It means that in both time frames, more than half of NV home sellers gave no seller subsidy.

Days on market remains very fast for homes that are show ready and create buyer enthusiam. Lately, not all homes are going under contract in a matter of days, but the ones prepped and professionally marketed are. One day upticks in the average and medians are nothing.

If you placed your NV home in Braemar on the market, priced to current conditions, you could expect it to be under contract in less than a week. You also expect to give nothing in seller subsidy. As far as contract contingencies your offers are likely to have the three standards: financing, appraisal and inspection. With the frenzy gone, and a more reasonable seller’s market, buyers were more measured in their actions during the second half of the year.

The next Braemar Property Value Report will be out in March. Until then, if 2022 is the year you were thinking of selling, there is no time like the present to consult a local, professional agent like me. Getting Braemar sellers top dollar through exceptional listing preparation advice, professional marketing and unparalleled neighborhood knowledge 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
www.ChrisAnnCleland.com

Braemar Property Value Report: September-October 2021 (NV Homes)

Braemar Property Value Report: September-October 2021 (NV Homes)

The turkey and traditional sides induced over-full state has subsided and it is back to work for this Braemar Real Estate Agent. Back to work means actually doing the research and producing this Braemar Property Value Report focused on properties built by NV Homes in our neighborhood. That’s right, I don’t cut and paste reports for you. I run the sales, crunch the numbers and give you my analysis. That is why my wealth of knowledge of our Braemar real estate market is unparalleled. I do the work to understand our market.

In the months of September and October, there was only one NV home that sold. The details of that sale are listed below:

Having only one sale for the current reporting period doesn’t mean that we don’t have updated six and twelve month data points. This sale gets tossed in with the previous sales of NV homes for the previous year and the sales from September and October last year are dropped. The updated six and twelve month data points used in this report are then updated as seen below:

Starting with the sold price column there are healthy increases in both six month values compared to their respective twelve month values. NV homes are continuing to increase in value. And unlike what I have seen with other home types this reporting period, NV homes have lost only one half of one percent in the average six month growth rate compared to last report. They have lost no ground in median six month growth rate.

When we get to the seller subsidy column, we get to see how much closing cost help Braemar buyers were able to negotiate from their NV home sellers. The answer is nothing more than they had before. The most recent sale gave no seller subsidy. And with the six month average seller subsidy decreasing compared to the twelve month average, it seems more and more sellers are giving nothing, bringing that average number down. The six and twelve month median values being at zero means more than half of NV home sellers in both time periods gave no closing cost help. This is the mark of buyer competition being strong for these homes.

Days on market has come down in both six month values compared to their respective twelve month values. This is also contrary to what I have found in preparing other Braemar Property Value Reports for the same time period. The most recent sale going under contract in only four days is fantastic.

If you placed your Braemar NV home on the market, priced to current conditions, you could expect it to be under contract in a week or less. You could also expect to give very little, if anything in closing cost help. And based on trends I am seeing in the market, there is a shift away from the all-out buyer frenzy in our real estate market. Buyers are more likely to ask for home inspections and not waive appraisal. That doesn’t mean we are entering a buyer’s market. Supply is still not keeping up with demand. Buyers are not as many in number and not feeling the need to give away every possible contingency to get under contract.

The next Braemar Property Value Report will be out in January. Until then, I wish you all the best this holiday season. Of course, if the need arises to sell your Braemar home, I am here for you no matter the season. Creating buyer enthusiasm and maintaining it throughout the transaction is what makes keeps my sellers at the max the market will allow. My knowledge of our community is what gets my Braemar sellers the advantage over their competition. Feel free to reach out any time of year for a no obligation consultation. It is my pleasure to serve my neighbors. 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 Property Value Report: July-August 2021 (NV Homes)

Braemar Property Value Report: July-August 2021 (NV Homes)

It has been a string of gorgeous September days lately. Just the right temperature and beautiful blue skies, very similar to the sky in the picture above. While I would rather be out enjoying the day, work still needs to get done. For this Top Braemar Real Estate Agent, that means getting out another Braemar Property Value Report. Today’s report focuses on the sales of houses built by NV Homes in our neighborhood during the last two months of summer. Without further delay, let’s get to it.

During July and August there were six NV Homes that sold in Braemar. The details of those sales are listed below:

Wow! Very health sold prices in that sold price column. But how do the six and twelve month data points look?

Starting with the sold price column we see both the six month average and six month median values are most definitely higher than their twelve month respective values. This means NV Homes are still pushing up in value. This report the average was up 4% in six months. The median value was up 3% over six months. Compared to last report, the average growth is down 3% and the median growth is up 2%. Only time will tell where values go from here. All I know is that the summer brought a slowing of the buyer frenzy we had been experiencing since 2020. Even with that slow down, it has remained a healthy seller’s market.

The seller subsidy column is where we learn how much closing cost help buyers were able to negotiate from their sellers. The answer in the six month and twelve month median values is none. That means more than half the sellers in both time frames gave absolutely nothing in closing cost help. However, NV Home sellers have been giving something since there are values in the six month and twelve month average values. One of those seller is represented in the most recent sales above with $2,300 in seller subsidy. That’s only one seller out of six that gave any closing cost help. It is a rarity these days as buyers are competing against other buyers to be the offer chosen.

Days on market is where we find out how quickly NV Homes are going under contract. Very fast. The six month average marketing time was only three days compared to the seven days seen in the twelve month average. Meanwhile, the six month median marketing time is only two days, which is even faster than twelve month median marketing time of three days.

If you placed your NV Home on the market, priced to current conditions, you could expect it ot be under contract in less than one week. You could also expect to give nothing in seller subsidy.

The next Braemar Property Value Report will be out in November. Until then, if you have been considering the sale of your Braemar home, waiting until next spring may not be the most beneficial move. Our year end housing market in Braemar is a powerful one, fueled mainly by the fiscal year for the Federal government beginning October 1st. New jobs are created and raises abound. Meanwhile, fewer sellers tend to take this time of year seriously. The sellers that do tend to make out very well. Call me and find out 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 Property Value Report: May-June 2021 (NV Homes)

Braemar Property Value Report: May-June 2021 (NV Homes)

The end of the work week has arrived. TGIF! It’s been a long week. While there is no end of the work week for a Top Braemar Real Estate Agent like myself, the acknowledgement of the start of the weekend is still ingrained deep in my soul from school days.

Today’s Braemar Property Value Report focuses on the sales of houses built by NV Homes in Braemar during the months of May and June. During those two months, there were only two sales. The details of those sales are listed below:

These sales demonstrate the crazy buyer demand that was present in both months. Iona Sound sold well above list price in two days and Arthur Graves Jr. went under contract at a high list price before ever hitting the market. Was it a sight unseen offer? Based on the fact that there is no listing agent listed and no MLS photos, I think it was a private sale between two parties, the buyers represented by an agent.

Taking these two sales and combining them with the entire past twelve months of NV homes sales, the six and twelve month data points are updated to continue to show the impact of the seller’s market.

Starting in the sold price column, we see a big jump in value from the twelve month average sold price to the six month average sold price. However, the six median median sold price is only slightly higher than the twelve month sold price. Either way, the trend is up and that’s a good thing for NV home owners.

Seller subsidy is where we learn how much closing cost help buyers negotiated from their NV home sellers. In all except the twelve month average the answer was zero. And the twelve month average only has a value because two of twelve sales in the past twelve months gave seller subsidy. The most recent of those two sales was in December 2020. Seller subsidy requests so far in 2021 have been absent in winning bids on NV homes.

Days on market shows a dramatic change in both twelve month average and median values shrinking the in the six month average and median time frames. Selling an NV home is not a lengthy process these days.

If you placed your NV home on the market, priced to current conditions, you could expect it to be under contract in a few days. You could also expect to give nothing in seller subsidy.

The next Braemar Property Value Report will be out in September. Until then, when it is time to sell your home, understand that creating buyer enthusiasm is the key to getting the top of the market price in any market conditions…even a seller’s market. Buyer enthusiasm comes from proper listing preparation and professional marketing…two things I help sellers with every day. Get in touch with me for a run down of what it takes to achieve top of the Baemar 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 Property Value Report: March-April 2021 (NV Homes)

Braemar Property Value Report: March-April 2021 (NV Homes)

Another gorgeous spring day in Braemar and the sound of a lawn mower is my background noise. Doesn’t bother me a bit. The sun is shining and the weather is warming up. The real estate market has been warm for some time. In fact, it is down right hot. Sellers could not be in a better position and in this edition of the Braemar Property Value Report, focused on the NV Homes resale market, you will see exactly what I mean.

During the current reporting period of March and April, there were four resales of NV homes in Braemar. The details of each of those four sales is listed below:

All but three of these homes sold well above their list prices. Only one took a week to go under contract at longest. None gave closing cost help. This is what the Braemar seller’s market looks like. Taking these sales and combining them with the entire past twelve months of NV home sales in Braemar, we see exactly how far home values have come in six months when comparing the six month data points to the twelve month data points.

The sold price column is the natural place to start. Here we see that the six month average and six month median sold prices are WAY higher than the twelve month average and median. NV homes in Braemar are eight to nine percent higher than they were a year ago. That’s substantial.

Seller subsidy is what is also known as closing cost assistance sellers give to buyers as part of the transaction. Honestly, this is the first report I have done in the March/April 2021 series were the six month average shows a value other than zero. Evidently, one NV home sale in the last six months gave a large amount of closing cost help. And looking back at the fourteen sales that make up the twelve months of NV homes data, only two gave seller subsidy at all. Zero is new norm as buyers face fierce competition when bidding on homes.

The days on market column shows the six month average marketing time two days shorter than the twelve month average. The six month median marketing time is three days shorter than the twelve month median. NV homes in Braemar have been selling faster more recently.

If you placed your NV home on the market, priced to current conditions in our Braemar marketplace, you could expect it to be under contract in less than a week. You could also expect to give nothing in seller subsidy as buyers compete to win in multiple offer scenarios. Those same buyers may even waive contingencies like home inspection, radon inspection, financing and appraisal.

The next Braemar Property Value Report will be out in July. Until then, if the need or want to sell arises know that even in a seller’s market, preparation and marketing matter. They create the buyer enthusiasm needed to lift your sales price higher than your competition. Creating buyer enthusiasm with a well prepared and professionally marketed listing is my specialty. Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 
Associate Broker, Licensed in VA
Long & Foster Real Estate
703-402-0037, ChrisAnn@LNF.com
www.SellingBraemar.com
www.UncompromisingValues.com
www.ChrisAnnCleland.com

Braemar Property Value Report: January-February 2021 (NV Homes)

Braemar Property Value Report: January-February 2021 (NV Homes)

As usual, our transition from winter to spring has not been consistently in one direction. Warmer temperatures had us all ready to ditch our coats and shake off winter. Not so fast! Colder temperatures have arrived again. The one thing that has been consistently going in one direction is our Braemar real estate market. In this edition of the Braemar Property Value Report, I will examine the sales activity of houses built by NV Homes in our neighborhood during the months of January and February.

The first two months of the year yielded only one NV hgome sale in Braemar. The detail of that sale is listed below.

Taking this one sale and combining with the entire past twelve months of NV homes in Braemar, the six and twelve month data points are updated as reflected below:

Starting with the sold price column, it is great to see both the six month average and six month median sold prices higher than their respective twelve month values. This means NV homes in Braemar have been increasing in value. No surprise there from the seller’s market we have been experiencing.

In the seller subsidy column, I am surprised to see an increase in the amount of seller subsidy (closing cost help) from the twelve month average to six month average. In a seller’s market like ours, this is unusual. The six month median and twelve month median are more in line with what I expect to see in this market with intense buyer demand and limited inventory. More than half the sellers in both the six month and twelve month time frames gave nothing in closing cost help.

Days on market is also a column where we see unusual trends, inconsistent with a seller’s market. The six month average and six month median marketing times are higher than their respective twelve month values. Apparently there have been some NV homes that have lingered a little longer on the market . It certainly wasn’t the sale from this reporting period, which sold in four days.

If you placed your NV 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 give nothing in seller subsidy as buyers compete to win your home in multiple offer situations.

The next Braemar Property Value Report will be out in May. Until then, if you are interested in selling your NV home, get in touch with me for a free consultation. It may be a seller’s market, you can still leave money on the table. My professional marketing and unparalleled market knowledge will create the buyer enthusiasm needed to squeeze the absolute maximum out of your home sale. 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