Braemar Property Value Report: November-December 2019 (NV Homes)

Braemar Property Value Report: November-December 2019 (NV Homes)

Happy Monday!  This happens to be my favorite day of the week.  Of course, back to work is the association most folks have with Monday, and it’s no different for me.  I just happen to love my job as a Top Braemar Real Estate Agent.

Today I’m going to share with you the latest Braemar Property Value Report, focused on sales of houses built by NV Homes.  This edition focuses on the sales activity of NV Homes during the months of November and December 2019.

There was only one NV Home that sold during the last two months of 2019.  It sold for $560,000 and the detail of that sale is listed below.

Taking this sale and adding it to the entire year’s worth of NV Home sales from 2019, our six and twelve month data points are updated to reveal the following:

Let’s start by examining the sold price column.  The first thing I notice when I look here is that the six month average sold price is higher than the twelve month average sold price.  That alone would an indication that NV Home prices continue to increase in the more recent sales.  Then I notice that the six month median sold price and the twelve month median sold price are exactly the same.  This alone would indicate NV Home values are steady.  Finally, looking at the most recent sale of a large, three finished level NV Home at $560,000, which is below all the median and average sold prices…well that concerns me.  We’ll have to wait and see what our next report shows for value, but I feel safe calling them stable for now.

When it comes to seller subsidy, we see a good seller favored trend when we see that the six month average seller subsidy (closing cost assistance to buyers) is quite a chunk of change lower than the twelve month average seller subsidy.  Then again, we see that the six month median and twelve month median seller subsidy values are exactly the same.  So what how does the most recent sale compare with seller subsidy.  It’s seller subsidy was higher than any of the above.  Again, we’ll have to wait and see what our trend is.  Right now, we’ve got mixed messages.

Looking at days on market (marketing time) there is a definite trend.  Both the six month average and six month median marketing times are longer than their respective twelve month counterparts.  Our most recent sale on Island Fog also shows this to be true.  While the length of time it is taking to go under contract has increased, it is still not anything troubling.

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 three weeks.  You could also expect to pay about 1% of the sales price, maybe a little more, in closing cost help to your buyer.

The next Braemar Property Value Report will be out in March.  Until then, if you have been thinking that the 2020 spring market may be your time to list, the time to act is now.  Real estate spring is happening NOW.  It always happens earlier than Mother Nature’s spring.  Demand is high and our supply is pitifully low.  Give me a call and let’s talk timing, price and 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

Braemar Property Value Report: September-October 2019 (NV Homes)

Braemar Property Value Report: September-October 2019 (NV Homes)

As soon as I finish typing up this most recent Braemar Property Value Report, I am heading to the grocery store.  There is nothing more stress inducing this time of year than having to grocery shop on Wednesday, or even Tuesday, before Thanksgiving.  One of the joys of being a Braemar Real Estate Agent is that I can do my chores during regular business hours while the nine to five world is working.

In this edition of the Braemar Property Value Report, I focus on sales of homes built by NV Homes in our neighborhood during the months of September and October.  During that time, there were two NV Homes that sold.  The details of those sales are listed below:

Taking these two sales and combining them the entire last twelve months of NV Home sales in our neighborhood, our six and twelve month data points are updated. These are the data points that give us indications as to where our market is heading.  Our updated data points are pictured below:

Looking first at the sold price column, we see that both the six month average and six month median sold prices are below their respective twelve month values.  This is not a good sign, and if it is continues in the next report, could indicate the softening of values of the larger single family homes in Braemar.  Given the other data points, it may just be a fluke this report.  Allow me to continue.

Seller subsidy, also known as closing cost help to buyers, shows a trend indicating competitive demand.  Both the six month average and six month median seller subsidy value are less than their respective twelve month values.  This means buyers have been asking for less closing cost help, which is is generally an indication of a healthy, seller favored market.

Days on market is another column that shows stability to seller favored conditions.  The six month median marketing time is exactly the same as the twelve month median marketing time.  Meanwhile, the six month average marketing time has shortened by three days from the twelve month average marketing time.  NV Homes aren’t taking any longer to sell, and may in fact, be selling a tad faster.

If you placed your NV Home on the market, priced to current conditions, you could expect it to be under contract in less than three weeks.  You could also expect to pay about 1.5% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in January.  Until then, I wish you every happiness this holiday season.  Of course, if the need arises to sell your Braemar home before our next report, don’t hesitate to call, text or email me.  I sell Braemar homes for top dollar no matter the season!  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: July-August 2019 (NV Homes)

Braemar Property Value Report: July-August 2019 (NV Homes)

This fall weather feels delightful.  Soon, we’ll see the brilliant oranges, reds and yellows as the leaves turn.  In the meantime, I have another Braemar Property Value Report to share with Braemar home owners.  This one focuses on homes built by NV Homes in our neighborhood and covers sales from the previous two months.

There were two NV Homes that sold between the beginning of July and end of August.  The details of those sales are listed below.

Taking these two sales and combining them with the entire last twelve months of NV Homes sales we get updated six and twelve month data points.  These will give an idea of trends in our NV Homes values.

Starting with the sold price values, we see that both the six month average and median sold prices are above their twelve month average and median counterparts.  It’s only by about $3,000 in each category, but an increase nonetheless.  This means NV Home values in Braemar are still inching up.

Seller subsidy, also known as closing cost assistance from sellers to buyers, does not reveal a good trend for would be NV Home sellers in Braemar.  Both the six month average and median seller subsidy values have increased from their twelve month respective values.  This means that buyers of NV Homes have been asking for, and receiving, higher amounts of closing cost help in the more recent sales.

Days on market, or marketing time as I like to call it, does have a slightly encouraging trend that favors sellers.  The six month average and median marketing times are both below the twelve month average and median marketing times.  Buyer demand and lack of inventory is lending itself to much quicker marketing times.

If you placed your NV Home on the market, priced to current values, you could expect to be under contract in about two weeks.  You could also expect to pay about 2% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in November.  Until then, if you worry that you may have missed the action of this spring’s and summer’s market, give me a call and I’ll share the surprises found in the year end 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

Braemar Property Value Report: May-June 2019 (NV Homes)

Braemar Property Value Report: May-June 2019 (NV Homes)

Another sunny, hot and humid day is upon in Braemar.  What a perfect weekend day to enjoy our community pools.  No doubt it will be filled with families today.  This Top Braemar Real Estate Agent will stay in her air conditioned home office and plug away on what remains of her Braemar Property Value Reports.  This particular report focuses on the sales of single family homes built by NV Homes in our neighborhood during the months of May and June.  Let’s get right to it.

There were three NV Homes in Braemar that sold in the last two months.  Their sold prices ranged from $518,000 to $600,000.  Pretty big range.  As you will see from the detailed break out of those sales below, the lower end was a home with a finished basement with no exit.  What you don’t see in that detail sheet below was that the property on Island Fog was a Short Sale.  That meant a very patient buyer was needed to wait for Short Sale Approval.  The pain-in-the-butt factor for that process definitely knocked some money off that bottom line.  The other two seem to show a difference in what a finished basement with a walk out exit vs. an unfinished basement with no exit gets in the marketplace.

Taking these most recent sales and combining them with the entire last twelve months of NV Home sales, we get updated six and twelve month data points, which are pictured below.

To begin with, we see a favorable trend for NV Home owners in Braemar when it comes to sold price.  Both the six month average and six month median sold prices are above their respective twelve month data points.  This means that NV Homes in Braemar are still pushing up in value in the short term.

Seller subsidy, unfortunately is showing a trend in the short term that is not favoring Braemar NV Home sellers.  Bot the six month average and median seller subsidy values are well above their twelve month counterparts.  This means that Braemar buyers have been asking for, and receiving, more closing cost help from sellers.  Of course, looking to the most recent sales, the home on Arthur Graves Jr. could be the sole reason for these numbers being inflated in the short term.  That $20,000 in closing cost help sticks out like a sore thumb.

When it comes to days on market, which I like to refer to as marketing time, it seems that despite the increase I expected to see in comparing values longer term values from our old MLS, (which went out of service in November 2018,) to the new MLS which took over, we see a decrease in the six month average and median marketing times compared to the twelve month average and median marketing times.

If you placed your NV Home on the market, priced to current conditions, you could expect it to be under contract in about two weeks.  You could also expect to give about 2% of the sales price in closing cost help, possibly less.

The next Braemar Property Value Report will be out in September.  Until then, give me a call when you are ready to feel out the market for the sale of your Braemar home.  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 (NV Homes)

Braemar Property Value Report: March-April 2019 (NV Homes)

As I type this on the gorgeous Saturday of Memorial Day Weekend, I can close my eyes and picture the giggles and splashing happening at the Braemar pools.  Summer is here, even if it isn’t official on the calendar.

Right now, it is time for another Braemar Property Value Report featuring sales of NV Homes in our neighborhood during the months of March and April.  As it turns out, there were only two NV Homes that sold during that time frame.  Final sold prices were $539,900 and $582,000.  The details of those sales are listed below:

Taking these two NV Homes sales and combining them with the previous twelve months of NV Homes sales, the six and twelve month data points are updated as follows:

Starting with sold prices, we see the six month average and median values are the same, and both significantly above their respective twelve month values.  This mean NV Homes are gaining value.

Seller subsidy, also known as closing cost assistance from seller to buyer, is an area not so seller friendly.  Both the six month average and median seller subsidy values are significantly above their twelve month counterparts.  Unfortunately, this means on average, NV Homes sellers are giving more in closing cost help to their buyers in recent history.

Days on market is going to be unreliable until we get to the reports coming out in January.  Our new MLS, which we switched to in November last year, stops counting days on market when contingencies are removed if sellers are still willing to accept showings in pursuit of back up offers.  Therefore, it is not surprising to sell the six month days on market numbers nearly double the twelve month days on market.  Not to worry. When the time comes to sell, when I am looking at comps, I hand calculate how long it has been taking comparable homes to go under contract.  One day our MLS will understand that is the only number sellers care about.

If you placed your NV Home on the market, priced to current conditions, you could reasonably expect to be under contract and well on your way to settlement in a little less than two months.  You could also expect to give about 2% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in July.  Until then, when the time to sell your home is on the horizon, reach out and let’s start talking.  My unparalleled knowledge of the neighborhood and marketing expertise is the perfect combination to get you the absolute most for your Braemar home.  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: January-February 2019 (NV Homes)

Braemar Property Value Report: January-February 2019 (NV Homes)

Doing a quick spray of windshield fluid and swipe of the wiper blades yesterday I noticed quite a bit of pollen.  Spring is here!  Of course, we won’t know about the actual spring market real estate values until we have moved past it, but right now we have a chance in this edition of the Braemar Property Value Report to look at the first two months of 2019 and what is happening with NV Home values in the neighborhood.

Unfortunately, there were no NV Homes that sold during January and February.  However, that doesn’t mean we don’t get updated data points.  The six and twelve month weigh points we use for market indicators shifts every report.  Right now, this is what the six and twelve month values look like for NV Homes.

Let’s start with sold price.  The six month average sold price is slightly above the twelve month average sold price.  That’s good news!  However, the six month median sold price is $25,000 less than the twelve month median.  Not good news.  And without any NV Homes sold in our current reporting period, well, that leaves this experience Braemar Real Estate Agent to go with her gut.  There is incredible demand for homes in our neighborhood, though most demand seems to be below the $500,000 price point.  NV Home prices are most likely stable, but we’ll need to see some sales to be definite about it.

Next up, seller subsidy.  There is a very clear indication of a market trend here.  Both the six month average and median values are higher than their twelve month counterparts.  This means sellers have been giving more closing cost help to their buyers in the most recent sales.

Finally, we come to days on market.  You probably remember that our region switched to a new MLS system in the late fall and that the new MLS system calculates this figure differently.  Until we have a year’s worth of data under our new Bright MLS, or Bright decides to calculate days on market the way our previous MLS did, we have apples compared to oranges.  While there isn’t a lot of change from the six month marketing time values to the twelve month marketing time values, it is more likely than not that just the new MLS system will scare us with an increased days on market in recent sales.  The good news is that when I run comps for individual home owners, I can manually calculate marketing time given the information on the listing.

If you placed your NV Home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement in about a month.  You could also expect to give about 1.5% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in late May.  Until then, when you see a move on your horizon, give me a call for your home’s specific value in the current 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

Braemar Property Value Report: November-December 2018 (NV Homes)

Braemar Property Value Report: November-December 2018 (NV Homes)

The forecast is not looking good for tomorrow afternoon.  Warnings are coming through loud and clear in the weather reports I’m hearing on the radio.  I’ll trust the meteorological pros and stay off the roads in the late afternoon and evening.  My area of expertise is Braemar real estate.  Speaking of Braemar real estate, it is time for another Braemar Property Value Report, focusing on sales of houses built by NV Homes in our neighborhood.  This reporting period covers November and December 2018.

During the last two months of last year, there was only one NV home that sold.  It was a Wynterhall model that sold price $615,000.  The details of that sale are as follows:

Taking that sale and combining it with all the NV home sale data from 2018, we get updated six and twelve month data points. Let’s see what those new values are telling us.

Even with the high sold price in our current report, the six month average and median sold prices are both below the twelve month average and median sold prices.  That indicates that NV home values are beginning to dip.  Not surprising because the larger homes in our neighborhood built by Brookfield Homes are also showing a dip in value.

When it comes to seller subsidy (closing cost assistance for buyers) is also showing a trend not favorable to NV home sellers.  Both the six month average and median seller subsidy values are higher than their twelve month counterparts.  Sellers are giving more in closing cost help.  Even the most recent sale gave seller subsidy higher than the most recent average and median values.  

Days on market, or marketing time as I like to call it, shows yet another unfavorable seller trend.  The six month markers shows it takes longer to go under contract than the twelve month markers.  However, this may not necessarily be true.  In mid-November, our region switched to a new MLS system which counts days on market differently.  It will be this time next year before we have a true apples to apples comparison on marketing time.

If you placed your NV home on the market, priced to current conditions, you could expect it to be under contract in less than two months.  You could also expect to pay less than 1% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in late March.  If you would like to sign up for email delivery of the full, letter size report, email me at ChrisAnn@LNF.com.  Of course, when the time comes when a sale may be on your horizon, 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 REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

 

Braemar Property Value Report: September-October 2018 (NV Homes)

Braemar Property Value Report: September-October 2018 (NV Homes)

It is probably obvious to you that not every real estate agent you may know that serves our area goes to the trouble of preparing market reports for the area.  Sure, there are cut and paste lines from the MLS that make it to my door, but they give you all the information for the neighborhood.  How is that helpful?  If you own an NV Home, does it matter how long it took a townhouse to sell?  Or a carriage home?  Or a house in the age restricted Dunbarton?  No, it doesn’t.  That’s why I personally prepare these reports myself, and take the time to explain them to you.

Today’s Braemar Property Value Report focuses on sales of NV Homes, of which there were two during our reporting period of September and October.  The details of those sales are listed below:

When I take these two sales and replace September and October 2017 in my rolling year’s worth of NV Home sales, I am able to get a fresh look at our six and twelve month average and median data points.  They now look like this:

When comparing six month values to twelve month values, the shorter term are indicative of current trends when compared to the longer term.  The six month average sold price has fallen slightly below the twelve month average sold price.  By itself, that may be a sign of a slowing market for sellers.  However, the fact that the six month median value is the same as the twelve month median does not give that indication.  What NV homeowners are experiencing are stable market values.

Seller subsidy (closing cost assistance to buyers) is showing short term trends that NV homeowners will love.  The six month average seller subsidy is lower than the twelve month average seller subsidy.  The six month median seller subsidy is way below the twelve month median seller subsidy.  This means that NV homeowners have been giving less money in closing cost help to buyers.

Days on market, or as I call it, marketing time is another showing stability.  The six month average marketing time is about two weeks faster than the twelve month average marketing time.  That’s great and by itself would be indicative of a trend that NV Homes are selling faster.  However, when we look at the median marketing times in the six and twelve month markers, we see they are exactly the same.  This is stability in marketing time as far as I am concerned.

If you placed your NV Home on the market, priced to current conditions, you could expect it to be under contract in under fifty days.  You could also expect to give under 1% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in January.  If you would like to be on the email list to receive the report relevant to your home style, send me an email at ChrisAnn@LNF.com with BPVR Request in the subject line.  Then give me your property address and email address where you would like the report delivered.

Of course, if you have a need to sell this year end, don’t panic.  Give me a call at 703-402-0037 and I’ll be happy to go over comps and tell you why my year end listings sell.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

Braemar Property Value Report: July-August 2018 (NV Homes)

Braemar Property Value Report: July-August 2018 (NV Homes)

Did you know that as of today, there are twenty-one homes on the market in Braemar? They aren’t all single family homes, like the NV Homes in our neighborhood.  In fact, single family homes priced over $450,000 in Braemar make up ten of those listings.  And it is taking a while to get them under contract.  A quick look at those ten single family home listings in Braeamr over $450,000 tells me that they are averaging thirty-four days on the market….and they haven’t even been chosen yet!    One of the many reasons it is important to hire a Top Braemar Listing Agent.

Right now, this Top Braemar Listing Agent is going to update you as to what’s happened with NV Home resales in our neighborhood between July and August in this edition of the Braemar Property Value Report.  I have made it part of my job to stay on top of our local market.  I don’t know of any other real estate agent that serves Braemar that delves this deep into what’s happening in our neighborhood.

There was only one NV Home in Braemar that sold in during our current reporting period.  It was a Rutherford that sold for $485,000, having been listed for $500,000.  Details of that sale are below:

Not much can be determined by NV Home values by one sale.  That’s why this sale is added to my rolling twelve month store of NV Home sales in Braemar, and six and twelve month values pulled out.  When I do that, here’s what we find:

The trend you want to see in the sold price numbers is higher values in the six month average and median compared to their twelve month counterparts.  That is definitely what we find with NV Home values in the six month values compared to the twelve month values.  That means NV Homes are still pushing up in value.

When it comes to the seller subsidy (closing cost assistance) category, we want to see the opposite.  The best trend for sellers here is to have lower figures in the six month values when compared to the twelve month.  Once again, Braemar NV Home sellers in the last six months have been given less closing cost assistance to their buyers.  Gotta love that.

Days on market, or marketing time, is another category where we like to see more recent numbers trending down, compared to the whole year.  While the six month median value is two days longer than the twelve month median, the six month average value is thirty-one days shorter than the twelve month average.  That big a decrease in average marketing time is a great thing to see.  The two day increase in median value?  Not to worry.

If you placed your Braemar NV Home on the market, priced to current conditions, this report indicates  you could expect it to be under contract in two weeks.   However, at the start of this report, you heard the average days on the market for larger single family homes was thirty-four days for home still lingering on the market.  Who you hire to market your home matters and can affect marketing time and your final sold price.  As for what you could expect to pay in closing cost help, that would be an average of less than 1% of the sales price.

The next Braemar Property Value Report will be out in November.  Until then, when you are ready to sell your Braemar home, hire wisely.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

Braemar Property Value Report: May-June 2018 (NV Homes)

Braemar Property Value Report: May-June 2018 (NV Homes)

The opening sentence of my Braemar market reports always seems to be the hardest to get past.  Sure I’ve examined the sales and crunched the numbers myself, which puts me way above what most Bristow area agents are willing to do for their market area.   Somehow, the most intimidating factor about the reports is the open.  It’s a good thing we are past that part now and this Top Braemar Real Estate Agent can share some valuable information with you.

This particular Braemar Property Value Report focuses on the sales activity of NV Homes in Braemar during the months of May and June.  That activity includes four NV Home sales, all of which are listed in detail below:

After laying out the data for the two month reporting period, I then go back and put these sales for May & June 2018 in place of the May & June 2017 sales.  That gives us twelve months worth of data points that I slice into six month and twelve month average and median values.  Here’s what we get with the updated values:

The way to compare six and twelve month data samples is see what changes are happening in the short term (six months) compared to the long term (twelve months.)  Well, the first thing we examine are the sold prices.  Both six month values are above the twelve month values, which is fantastic.  There is a particularly larger jump from the twelve month average sold price to the six month average sold price.  Values of NV Homes in Braemar are going up.

Another good trend for Braemar NV Home sellers is the decrease of seller subsidy (closing cost assistance to buyers) in the six month values to the twelve month values.  Likewise, a reduction in time it takes to go under contract in the six month values is great to see compared to the twelve month values.  In particular, the six month average days on market is substantially lower than the twelve month average.  All good news for NV Home owners in Braemar.

If you placed your NV Home on the market, priced to current conditions, you could expect your property to be under contract in a little more than a week.  You could also expect to pay about one half to three quarters of one percent of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in September.  Until then, when you want to know the value of your home in today’s market, or the optimum time of year to sell, give a call at 703-402-0037.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com