Braemar Reflection Quarterly: July-September 2020 (3rd Quarter)

Braemar Reflection Quarterly: July-September 2020 (3rd Quarter)

Reflection Series Home

Today I bring you the last of the Braemar quarterly property value reports. This one is focused on the Reflection homes in Braemar. For those who are unfamiliar with what defines a Reflection home, they are the homes on Tarvie Circle and are attached to one neighbor at the rear load garage.

Between July and September (the 3rd quarter of 2020,) there were no Braemar Reflection homes that sold. For that matter, there were no Reflection homes that sold between April and June (the 2nd quarter of 2020.) That makes our average and median six month value point non-existent, but we still have our twelve month average and median value points that we can use to get a sense of where Reflection home values may be.

The twelve month average and median sold prices for Reflection homes are close in value. And while our market demand has seen values pushing up, most home types are not jumping up in value by leaps and bounds. Maybe an average projected sales price for the current market would be $475,000 or so.

In the seller subsidy column we learn how much closing cost help Reflection home sellers gave to buyers. Even information seven to twelve month’s old shows that seller subsidy was minimal in the average and nothing in the median value. The market has been so flooded with buyers and very little inventory, very little closing cost help has been zeroing out in a lot of home sales lately.

Days on market in the twelve month stats are a little high at eighteen days in the average. The twelve month median at eight days is more likely close to what may happen in the current market if a Reflection home hit the market.

The next Braemar Reflection Quarterly will be out in January. Maybe by then we’ll have some sales of Reflection homes to report. Until then, if you are contemplating taking advantage of this extreme buyer demand, get in touch with me. 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 Reflection Quarterly: April-June 2020 (2nd Quarter)

Braemar Reflection Quarterly: April-June 2020 (2nd Quarter)

Reflection Series Home

It is time for another Braemar Reflection Quarterly, featuring sales of homes on Tarvie Circle that are semi-detached.  What does that mean?  This single family homes with rear load garages are attached to one neighbor only at the garage.

During our current reporting period, which includes the months of April, May and June, there were no Reflection homes that sold.  However, that doesn’t mean we can’t get a peek at our updated six and twelve month data points.

The six month average and median sold price is based on one sale in March.  That value is below both the twelve month average and twelve month median sold prices.  Not enough to say that Reflection home values are waning for sure.  We’ll need more data.  What I can tell you is that our Braemar marketplace has record high demand at the moment and any home priced right and in good condition is flying off the shelves.

When it comes to seller subsidy, the sale making up our six month values gave none.  That’s definitely what I am seeing more and more in our market.  I suspect this is something we will continue to see in most price ranges, with the exception of entry level homes.

Days on market was lower in the one sale making our six month average and median values.  Only five days to go under contract.  That is certainly in line with what I would expect right now.

If you placed your Braemar Reflection home on the market, priced to current conditions, you could expect it would be under contract in a week or less.  You could also expect that you would not have to pay a buyer’s closing costs.

The next Braemar Reflection Quarterly will be out in October.  Until then, if the sale of your Braemar home is on the horizon, give me a call for the most accurate market analysis.  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 Reflection Quarterly: January-March 2020 (1st Quarter)

Braemar Reflection Quarterly: January-March 2020 (1st Quarter)

Reflection Series Home

Happy Friday!  It may not be the sunniest day, but the temps are great, the sun is in and out of the clouds and it isn’t raining.  Sure is nicer than yesterday.  In fact, when I am done writing this Braemar Reflection Quarterly report, I may just go for a stroll.  That’s the one good thing I see that our shelter-in-place directive has produced…a lot more people taking walks in the neighborhood.

This Braemar Reflection Quarterly covers the sales activity of Reflection homes in Braemar, which are the semi-detached homes located off of Tarvie Circle, for the first quarter of the year.  Let’s dive right in.

There was only one Reflection home that sold during the first quarter.  Details of that sale are listed below:

Taking that one sale and adding it to the previous three quarters of Braemar Reflection home sales, our six and twelve month data points are updated as follows:

Starting with the sold price column, there is an increase in the six month average sold price over the twelve month average sold price.  Meanwhile, the six month and twelve month median sold prices are the same.  To me, this indicates stable values for Braemar Reflection homes.

The seller subsidy column shows decreases in both six month values compared to their respective twelve month values.  This means buyers have been having to forego large, or closing cost requests altogether in our competitive market.

Finally, the days on market column shows a slight increase in the six month average marketing time compared to the twelve month average marketing time.  Meanwhile, the six and twelve month median marketing times are exactly the same.  More stability.

If you placed your Braemar Reflection home on the market, priced to current conditions, you could expect it to be under contract in one to three weeks.  You could also expect to pay a very minimal amount in closing cost help to your buyer.

Will the measures our state government has taken to slow the spread of COVID affect our Braemar real estate market?  By the time the second quarter reports are out in July, we’ll have an idea if there is an effect.  Until then, if you find yourself in a position to sell your Braemar home, give me call for a free, professional market analysis.  I can help you sell your home safely and for maximum profit.  Hiring the right listing agent has never been more important.  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 Reflection Quarterly: October-December 2019 (4th Quarter)

Braemar Reflection Quarterly: October-December 2019 (4th Quarter)

Reflection Series Home

Welcome to another Braemar Reflection Quarterly.  While we are well into 2020, this report looks back to the fourth quarter of 2019 and details sales of the semi-detached single family homes on Tarvie Circle in Braemar.

From the beginning of October to the end of December, there were two Reflection homes that sold in Braemar.  The details of those sales are listed below.

While both homes were Annan floor plans with fully finished, below ground basements, one of these homes had a loft which brought an additional bedroom and full bathroom for an additional $25,000 in final sold price.

Taking both of these sales and combining with every Reflection home sale that happened in 2019, we get an entire year’s worth of data.  Breaking out the six and twelve month data points is how we are able to get a sense of how our market changed over the year.  This is the only way to project what the first quarter of 2020 may have in store.

Looking first at the sold price column, we see the six month average and median sold prices are both above their respective twelve month sold prices.  That means that semi-detached homes in Braemar are continuing to push upward in value.

Next, the seller subsidy column bears some good news.  The six month average and median seller subsidy (also known as closing cost assistance to buyers) is substantially lower than the twelve month average and median seller subsidy values.  While one of the sales from the last quarter of 2019 did have a buyer asking for and receiving $7,275, the other was a sale where no closing cost help was given.  Time will tell if the latter may be occurring more frequently.

Finally, days on market (also known as marketing time) reveals that the six month average marketing time has decreased by four days compared to the twelve month average marketing time.  The six month median marketing time, however, is nearly twice as long as the twelve month median marketing time.  Again, time will tell which is a trend and which was a fluke.

If you placed your semi-detached Braemar home on the market, priced to current conditions, you could expect it to be under contract in about a month. You could also expect to an average of less than 1% of the sales price in closing cost help.

The next Braemar Reflection Quarterly will be out in April.  Until then, enjoy our transition into spring and know that if you want to hit the spring market with your Braemar home, NOW is the time.  Give me a call for a free, in-depth marketing analysis and learn how my professional marketing gets my Braemar sellers top dollar in the shortest amount of time.  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 Reflection Quarterly: July-September 2019 (3rd Quarter)

Braemar Reflection Quarterly: July-September 2019 (3rd Quarter)

Reflection Series Home

Bringing up the rear in the Braemar Quarterly property value reports is this one for the Reflection Series.  Unfortunately the term “Reflection Series” that was chosen by Brookfield Homes when they named this style of home does nothing to conjure the image of the homes themselves.  They are the semi-detached single family homes on Tarvie Circle, attached by the rear load garage in sets of two.

There were no Reflection homes that sold during the third quarter of 2019.  However, in dropping the 2018 third quarter sales from the rolling pool of Reflection sales I keep saved in the MLS, I do get a chance to update the six and twelve month value points.  That still gives us an idea in the shorter term how things have been going.

Starting with sold price, it is a good thing to see both the six month average and six month median sold prices above their twelve month counterparts.  This means that in the most recent sales, Reflection home values were still pushing up.

Seller subsidy (a.k.a. closing cost assistance from sellers to buyers) shows a good trend, and frankly, one that is inconsistent with what I have noticed in the majority of Braemar Property Value Reports.  The six month seller subsidy values are below the twelve month seller subsidy values.  Given that this is inconsistent with rising seller subsidy elsewhere in our neighborhood, and with no recent sales to add any insight to this, I would not get my hopes up that seller subsidy is falling.

Days on market shows another good trend,  but this one happens to be consistent with what I have seen in another Braemar Property Value Reports I have prepared.  The six month marketing times are shorter than the twelve month marketing times.  This means Reflection homes have been selling faster.

If you placed your Braemar Reflection home on the market, priced to current conditions, you could expect to have it under contract in under two weeks.  You could also expect to pay out about 1.5% of the sales price in closing cost assistance to your buyer.

The next Braemar Reflection Quarterly will be out in January.   Until then, I wish you every happiness as you celebrate the year end holidays.  As always, when the time comes to sell your Braemar home, give me a call for the most accurate assessment of your home’s value and top notch professional marketing to get the most the market will allow at any given time.  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 Reflection Quarterly: April-June 2019 (2nd Quarter)

Braemar Reflection Quarterly: April-June 2019 (2nd Quarter)

9684 Tarvie Circle sold for $444,000 on May 31, 2019.

Before my open house at 12849 Rannoch Forest this afternoon, this dedicated Braemar Real Estate Agent has put together the last of my quarterly property value reports.  Today you will learn what happened in the second quarter of 2019 in the world of Braemar Reflection Series homes.  If you aren’t familiar with what a Braemar Reflection home is, they are the semi-detached single family homes located off Tarvie Circle.  They are attached only at the rear load garage to one neighboring property.

Between April and June, there were two sales of Braemar Reflection homes.  I am very pleased to have listed and sold, for the second time, 9684 Tarvie Circle.  Because it was my listing, it is highlighted in pink in the detailed list below.

While my listing was not the highest sold price, for what it offered it sold for a very good price.  The high sold price of $492,500 included four finished levels.  My listing had two finished levels.  It also went under contract in less than a week.

Taking these two most recent sales and combining them with the entire twelve months worth of Reflection Series sales, our six and twelve month data points are updated as follows:

While the median sold price is unchanged from the twelve month value to the six month value, the average sold price has increased in the six month value compared to the twelve month value.  That means that these semi-detached homes in Braemar are still pushing up in value.  It may not be by leaps and bounds, but an increase is an increase.

A bigger change in the short term, compared to the long term, is a decrease in seller subsidy (closing cost assistance to buyers.)  The six month average and median seller subsidy values are both below their twelve month counterparts.  Being out in the Braemar real estate market helping buyers and sellers day in and day out, it is no surprise given the lack of inventory and high buyer demand, that buyers are having to temper their requests for closing cost help.  In the case of 9684 Tarvie, my sellers were able to offset the cost of that seller subsidy by increasing their sales price.  Not an unusual strategy when a buyer must have the closing cost help.

As you may recall, days on the market has undergone a change in how it is reported in our new MLS, which was adopted by the market in November.  Until we have a year’s worth of the new data, which will be the first report of 2020, these numbers are unreliable.  As presented, the increase of the six month days on market numbers compared to their twelve month counterparts, indicates that it is taking longer to sell a semi-detached home in Braemar.  That is simply not what I am experiencing.  It will be wonderful if our MLS would adopt the same stopping point for counting marketing time that our previous one did.  I won’t hold my breath.

If you placed your Braemar Reflection home on the market, priced to current conditions, within a month and half you would be under contract and well on your way to closing.  You could also reasonably expect to about 2% of the sales price in closing cost help.

The next Braemar Reflection Quarterly will be out in October.  Until then, when the sale of your Braemar semi-detached home is on the horizon, give me a call.  You only get one shot to maximize the profit from the sale of your home.  Since 2005, No One Knows 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 Sold: Semi-Detached Single Family Home in Braemar

Just Sold: Semi-Detached Single Family Home in Braemar

9684 Tarvie Circle sold for $444,000 on May 31, 2019.

It’s always a great feeling to sell a home for a Braemar seller, and have the buyer that purchased it come back and hire you to sell it again.  As a matter of business practice, I will not practice dual agency, which is where I would represent both sides of a transaction.  No matter what happens, even if a relative wants to buy my listing, I refer the buyer to another agent.  My business practice as a Top Braemar Listing Agents is to stick with my sellers.  So when these buyers that have hired me to sell the homes they purchased as my listings, it is an honor.

In the case of 9684 Tarvie Circle, it was a particularly great feeling because the seller was a licensed real estate agent, whose license was on referral.  Did she know a lot of other agents?  Yes!  Did she have agents that were former business associates she had worked with?  Yes! Yet she called me to sell her Braemar home.  Why?  Because she knows my reputation in the neighborhood and my sales record.  She knew I would get it done right and for top dollar.

Kitchen, 9684 Tarvie

The property had been improved since the owner purchased it in 2016 for $404,000.  The powder room had been completely renovated to feature a floor to ceiling tiled accent wall.  The kitchen was looking great with the new granite counters.  And the modern touch of the ship-lap accent wall in the family room, along with updated light fixtures and brand new carpet on the upper level, took years of this home’s appearance.  In addition to visually appealing updates, the home essentially got organ transplants with two new HVAC units.  Given the amount of updates, listing at $439,000 didn’t seem optimistic at all.  That much gain in less two and a half years is not typical, but these owners really did make the home shine.  If they had finished the basement, they could have listed for much more.

Ridiculous to have to prove those steps down were within the property lines with a survey.

One of the reasons that this seller chose me is my connection to the on-site management staff. Living in the neighborhood and serving on my sub-association board, I have developed relationships with the staff from CMC that allow me to help sellers solve HOA violations quickly.  In this case, there was no getting around the need to physically draw five steps down from the family room to the back yard on a survey of the yard.  When you make modifications to your Braemar home, you need to apply for them.  Rather than spending $350 on a survey to complete the application, thereby correcting the violation, I proposed a solution that made the need for the survey much cheaper for the seller, and very attractive for the buyer.  The seller and buyer split the cost of the survey.  Don’t get me started on why this process of drawing these steps that came about two and a half feet out from the back of the was even necessary.

Not surprisingly, this semi-detached home on Tarvie Circle had multiple offers after two days on the market.  It sold above list price for $444,000 on May 31st.

When the time comes to sell your Braemar home, give me a call for a consultation about the market and what you can expect in terms of price and how long it will take to sell.  Selling Braemar homes 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

Braemar Reflection Quarterly: January-March 2019 (1st Quarter)

Braemar Reflection Quarterly: January-March 2019 (1st Quarter)

9684 Tarvie Circle is Listed for $439,000 on April

Having a Braemar Reflection listing currently under contract at 9684 Tarvie, I was really curious to see the latest data in this edition of Braemar Reflection Quarterly. And I have to say, some things don’t match up with my recent experience.  So let’s get to it, the 1st Quarter edition of the Braemar Reflection Quarterly, featuring sales of the semi-detached homes located on Tarvie Circle.

There was one Braemar Reflection home that sold during the 1st Quarter of 2019.  The details of that sale are below:

Taking this sale and combining it with the previous three quarters, six and twelve month data points are updated, and they look like this:

Turns out the sale in the 1st Quarter was the only sale in the previous six months.  The good news is that the $455,000 sold price is higher than the twelve month average and median sold prices.  And knowing what is coming down the pike at 9684 Tarvie, I can tell you that values are still going to be climbing.

The seller subsidy, or closing cost assistance values, are about the same compared to the most recent sale vs. the twelve month average and median.  Buyers are obviously still in need of, or simply expecting, closing cost help to buy a property like a Braemar Reflection home.

Finally, days on market (marketing time) took a lot longer in the most recent sale reported in the 1st Quarter compared to the previous twelve months average and median marketing times.  Even my own listing at 9684 Tarvie was under contract in a matter of days.  Not sure what to make of this, but time will tell.

If you placed your Braemar Reflection home on the market, priced to current conditions, this report would have you believe it would take nearly four months (worst case,) or a couple weeks (best case) to get your home under contract.  Again, I have to defer to my well trained Braemar Real Estate gut and tell you that my most recent listing at 9684 Tarvie was under in only a handful of DAYS.  You could also expect to pay about $9,000 in closing cost help.

The next Braemar Reflection Quarterly will be out in July.  Until then, if you are thinking it is time to sell your Braemar Reflection home, give me a call for fast and profitable results.  You only get to sell your Braemar home once.  Don’t leave it to an agent who has no idea of the value of what they are selling, or who is in the market for it.  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 to Sell a Semi-Detached Braemar Home?

How Long Does it Take to Sell a Semi-Detached Braemar Home?

9684 Tarvie Circle is Listed for $439,000 on April

On April 11th (2019) this semi-detached home in Braemar, located at 9684 Tarvie Circle, hit the market priced at $439,000.  I had listed the home for the previous owners back in the fall of 2016, it wasn’t in nearly as impressive shape as it was this spring.  The new owners added granite counters to the kitchen, along with a tile backsplash.  New light fixtures made the place more modern, along with touches like the shiplap accent wall in the family room, and tile accent wall in the powder room.  A new HVAC and new carpet certainly were welcome additions as well.

In the last Reflection Quarterly, for the 4th Quarter of 2018, it was taking about thirty days for these homes to go under contract.  That was what we were set for with this home.  The sellers and I were pleasantly surprised by lots of showings and two offers that came in only two days!  When you have a great product, marketed by a masterful listing agent, good things happen.

The settlement is set to happen at the end of May.  Stay tuned for the final sold price.  In the meantime, if you have a Braemar single family home to sell, demand is off the charts!  Call me for a free market analysis of your home’s value in this 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

Hitting the Market with an Open House at 9684 Tarvie Circle

Hitting the Market with an Open House at 9684 Tarvie Circle

9684 Tarvie Circle is Listed for $439,000

It is not a frequent occurrence to list the same property for sale with different sellers.  Yet, this will be the third time since I’ve been working as a Top Braemar Listing Agent that it has happened.  When you get a reputation for getting sellers top dollar in the neighborhood, even the buyers to your listings will come back around to hire you when it is time for them to move.

Kitchen, 9684 Tarvie

The great news for buyers looking under $450,000  for a single family home in Braemar is that 9684 Tarvie Circle is in much better condition this time around. You’ll be able to see for yourself on Saturday, April 13th (2019) between 12pm-2pm at the Open House.  It’s not that it was in bad shape when I sold it in the fall of 2016, but the owners then were investors.  They did a little to get it show ready, but weren’t about to upgrade it for tenants to enjoy.

 

Shiplap Accent Wall in Family Room

The current owners of this Annan model (one of which is a licensed real estate agent) did some really nice updates to the home.

  • Granite Counters and Tile Back Splash were added to the Kitchen
  • Powder Room was updated with new fixtures and a sleek a floor to ceiling Tile Accent Wall
  • Shiplap Accent Wall in Family Room
  • Both HVAC Units have been replaced as of 2018 and have a 10 Year Warranty
  • New Garage Door was Installed in 2018
  • Brand New Carpet was put in LAST WEEK!

Double Sided Fireplace, Breakfast Nook Side

When it comes to the things that haven’t changed that still make this home attractive, there are several things that jump out:

  • Hardwood Floors throughout the Main Level
  • Double Sided Fireplace between Breakfast Room & Family Room
  • Welcoming Covered Front Porch running the Length of the Front of the Home
  • Master Suite with Gigantic Walk-In Closet with Two Sections and a Luxury Attached Bathroom
  • Large Secondary Bedrooms
  • Upper Level Laundry Room
  • Two Full Size Patio Doors with Screens that open to Front Porch from Living Room and Dining Room

That last feature of the patio doors flanking the front door is one of my favorites.  It gives an open air feel to the front of the home.  And when you open the sliding door to the back yard, the cross ventilation is amazing.

Patio Doors flanking Front Door

Even though you don’t see it from the front of the home, there is a rear load, two car garage, accessed by private alley.  This is considered a semi-detached home because the two car garage is attached to the two car garage next door.  But that’s the only place these two homes touch.

Come by and see 9684 Tarvie Circle for yourself.  It’s priced at $439,000 and is going to make one lucky buyer very happy.  If you don’t see a yard sign when you arrive, it may not have been installed yet.  There will be an Open House flag waving and inviting you in.

If you have specific questions about the home, or want to know what YOUR Braemar home is worth, give me a call.  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