Braemar Condo Under Contract in Only Two Days!!

Braemar Condo Under Contract in Only Two Days!!

The demand for entry level housing in Braemar is astounding.  And while this two bedroom, one and a half bathroom condo at 12175 Caithness Circle hit the market on July 24th (2020,)  priced at $305,000 and had only three showings, it only takes one buyer to make a deal.  Just as important as price, is buyer flexibility when you are not only selling, but attempting to buy another home in this inventory limited market.

The sellers had done their prep and it paid off.  New paint, new carpet, new appliance and new windows.  That, in addition to having a new water heater, new HVAC, updated luxury vinyl plank flooring on the main level and granite counters in the kitchen made an attractive proposition to buyers.

I’ll keep you posted on final sold price for this Braemar condo.  In the meantime, if you have a Braemar condo, townhouse or single family home to sell, give me a call to get it done quickly and for the best terms 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

Braemar Property Value Report: May-June 2020 (NV Homes)

Braemar Property Value Report: May-June 2020 (NV Homes)

The month of July is flying by.  Seems I’ve been viewing property with buyers just about every day of the month too.  With the limited inventory available, whenever something pops on the market you must spring into action.  And with COVID showing restrictions not allowing for overlapping showings, if a property is popular enough, you can end up not being able to book a showing if all the slots fill up early.

This afternoon, however, I am enjoying some much needed desk time in my home office.  That is what is allowing me to bring you this most recent Braemar Property Value Report for the NV Homes in our neighborhood, with sales from May and June.  Let’s get right to it.

There were four NV Homes that sold in our neighborhood during the months of May and June. The details of those sales are listed below.

Taking all four of these sales and combining them with the entire past twelve months of NV Home sale data, our six and twelve month value points are updated as reflected below.

Looking first at the sold price column, the trend is that values are increasing in the six month data points vs. the twelve month data points.  NV Home values are continuing to rise.

The seller subsidy column is where we see how much closing cost help NV Home sellers have been giving to buyers.  Not surprisingly, the six month average seller subsidy is lower than the twelve month average seller subsidy.  And the six and twelve month median values are the same at zero.  In fact, if you look at the most recent sales listed above, not one Braemar NV Home seller had to give closing cost help.

Finally, when we get to days on market we see that our already fast marketing times in the twelve month value points has shortened a bit more in the six month data points.  NV Homes are selling even 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 one or two weeks.  You could also expect to give minimal, if any, closing cost help.

The next Braemar Property Value Report will be out in September.  Until then, if the time comes to sell your NV Home, give in touch with me for the most accurate analysis of your home’s value and top notch marketing to maximize your profit.  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 2020 (Heritage Series)

Braemar Property Value Report: May-June 2020 (Heritage Series)

When I prepare the various editions of the Braemar Property Value Report, I am always excited to see how any listings I had compared with other sales of similar properties.  In this edition of the Braemar Property Value Report for the Heritage Series homes, I have a chance to do that.  Heritage homes are mid-sized single family homes, built by Brookfield Homes.  They have two car attached garages and include the following floor plans:  Exeter, Yardley, Zachery (a.k.a. Zurich) & Waverly.  The homes built by Coscan in Braemar North Gate are also included in this group, as they are similar in size.

There were eight Heritage homes in our neighborhood that sold during the months of May and June.  My listing is highlighted in the detailed sales below in pink.

At first glance, my listing at 9658 Granary Place was the third lowest sold price in all the sales above.  However, when you look at it compared to the other unfinished basement home sales, it was the highest sold price.  My sellers got $17,000 over what was, at the time, a reasonable list price.  In fact, they set a record for the highest sold price for an unfinished basement home sale in the Heritage Series since probably 2005 or 2006.

Taking these eight sales and combining them with the entire previous twelve months of Heritage home sales, our six and twelve month data points are updated as reflected below.

Starting with the sold price column, we see that both the six month average and six month median sold prices are above their respective twelve month sold prices.  That means Braemar Heritage homes are continuing to move up in value.

When it comes to seller subsidy we see how much Braemar Heritage home sellers have been giving in closing cost help summarized with the average and median values.  The six month average seller subsidy is less than the twelve month average seller subsidy.  Not surprising considering buyers are having to write stronger and stronger offers more recently to even be considered.  The six month and twelve month medians are the same at zero.  That means half or more of Braemar Heritage home sellers are not giving any seller subsidy.

Days on market shows a surprise uptick in marketing time.  The six month average marketing time was four days longer than the twelve month average marketing time.  However the most recent sales above show no longer marketing time than fourteen days.  That means the sale(s) bringing up the average are not ones that happened in the two most recent months.  Meanwhile, the six and twelve month median marketing times are identical at six days.

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect it to be under contract in a week or two.  You could also expect to pay very little, if anything, in closing cost help.

The next Braemar Property Value Report will be out in September. Until then, there may never be a better time to cash out for max profit when selling your Braemar home.  There is no question that our circumstances of intense buyer demand and not enough homes to meet it, has created a bubble.  When will it burst?  We’ll only know when values start their downward trend.  If you want to know where your value may be with a sale in the near future, call me for the most accurate analysis of your Braemar home’s value and let’s set another record high sold price.  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 (Courtyard Series)

Braemar Property Value Report: May-June (Courtyard Series)

Seems the only respite we get from the hot and humid weather  lately are thunderstorms.  Yesterday afternoon’s storm was certainly intense.  Seemed it was instant nighttime as I drove to Gainesville to show property.  The wind was so strong it was pushing my car into another lane of traffic.  Trees were flailing about and buckets of rain were falling out of the sky.  Did that stop us from house hunting?  No.  Inventory all over our area is scarce and buyer demand is high.  We hoped that the storm meant other buyers would sit the day out.  No such luck.  It’s a brutal market for buyers.

What’s happening in the world of Braemar Courtyard homes?  Today’s Braemar Property Value Report, focusing on Braemar Courtyard homes, will seek to answer that question.  If you aren’t sure what a Braemar Courtyard home is, they are the single family homes located on Orland Stone, Pentland Hills and Playfair.  Five homes share a courtyard driveway and have a strip of yard separating them from each other.  I often refer to them as city homes or executive style homes, as they require the most minimal lawn maintenance and have very contemporary floor plans named the Arlington, Ballston and Clarendon.  What they lack in lawn, they more than make up for in generous bedrooms sizes.

While there were no new sales of Braemar Courtyard homes in the months of May and June, we do have a change to drop the sales from last May and June and freshen up our six and twelve month data points.  Updated values can be found below.

As you may recall, the last sale we had in our Courtyard Series Braemar Property Value Report was a Courtyard home on a more traditional lot.  That is the only sale represented in the six month data points.  Therefore, I’m hesitant to use its value as an absolute for current Courtyard home trends.

What I can tell you across most recent Braemar real estate sales is this:

  • Homes are increasing in value
  • Seller subsidy (closing cost credit to buyers) is shrinking
  • Marketing time is faster

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in two to three weeks.  You could also expect to give about 1.5% of the sales price in closing cost help, if you have to give any at all.

The next Braemar Property Value Report will be out in September.  Until then, if the time has come to sell your Braemar Courtyard home, give me a call for the most accurate market analysis of your home’s value in today’s strong seller’s 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 2020 (Carriage Series)

Braemar Property Value Report: May-June 2020 (Carriage Series)

The heat wave Bristow is experiencing is brutal.  Temps over one-hundred and high humidity makes for a trying outside experience.  Add a mandatory face mask and take away the community pool and you have a miserable summer experience.  Here’s to better days ahead.  Currently I am enjoying a day off from showing property to my buyer clients.  They are tired of the heat and exhausted from the insane level of competition for any listing worth buying.  It’s simply not sustainable and creating a bubble that has to burst.  First time buyers are struggling to buy homes.

As I enjoy my air conditioned office, allow me to bring you the most recent Braemar Property Value Report.  This one features sales of homes for the months of May and June for the Carriage Series.  Braemar Carriage homes are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

There were four sales of Braemar Carriage homes during our current reporting period. The details of those sales are listed below.

Taking these four sales and combining them the entire previous twelve months worth of Braemar Carriage home sales, we get updated six and twelve month data points that are pictured below.

Starting in the sold price column, it is no surprise to see both the six month average and six month median sold prices higher than their respective twelve month values.  As stated in the opening remarks of this property value report, our market has insane buyer demand. Values are continuing to increase.  Where’s the peak?  We have to be getting close, but no one knows.  We;ll only know we’ve peaked when we see values falling off.

Next up, the seller subsidy column.  This is where we learn how much closing cost help buyers are getting in their Braemar Carriage home purchases.  Again, it is no surprise to see that the six month average and median seller subsidy values are below their twelve month counterparts.  As you can see in the detailed sales above our data points, some sellers aren’t having to give any seller subsidy.

Finally, days on market shows a bit of a surprise as far as I’m concerned.  Both the six month values show slightly higher marketing times than their respective twelve month values.  Apparently, two of the most recent sales took a bit of time to get under contract.  Two of them were under contract in five days.  The latter is more like it in the current market conditions.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in a little over two weeks, if not sooner.  To be blunt, if your Braemar Carriage home is taking longer than a week to go under contract right now, you are over priced for the condition and/or presentation of your home.  You could also expect to pay an average of about 1% of the sale price in seller subsidy.

The next Braemar Property Value Report will be out in September.  Until then, if you want to take advantage of our record high prices and market demand, give me a call for the most accurate evaluation of your home’s value.  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 2020 (Arista Series)

Braemar Property Value Report: May-June 2020 (Arista Series)

House hunting during July and August in Braemar can be brutal.  The heat and humidity can get to you, especially during a time when no overlapping showings can happen thanks to COVID.  I’ve been standing in the front lawns of quite a few area listings just waiting for my turn to show a property.  Couldn’t be happier than I am right now to be sitting in my air conditioned home typing this Braemar Property Value Update for Arista home owners in our neighborhood.  Arista homes are the large single family homes built by Brookfield Homes in our neighborhood and are one of three models:  Arista, Buckingham or Canterbury.

There were three Braemar Arista homes that sold during our most recent reporting period, which encompasses May and June.  The details of those sales are listed below.

At first glance you notice that the middle sale is highlighted in a pink.  That’s because that is a listing that I sold.  And looking in comparison with the other sales, it seems my sellers made out very well.  They sold in a shorter period of time than the other sellers, paid no closing cost help and considering the only three finished levels without a secluded lot, they did very well on their price.

When we take these three sales from May and June and compare them with the entire past twelve months of Braemar Arista home sales, we get updated six and twelve month data points, as seen below.

Looking first at the sold price column, we see that both the six month average and six month median sold prices are higher than their twelve month counterparts.  This means Braemar Arista homes are continuing to push up in value in this crazy seller’s market.

Another trend we see in a seller’s market is decreasing seller subsidy, or as it is also know, closing cost assistance.  Yes, the trend is certainly favoring sellers.  Both the six month average and median seller subsidy values are less than their twelve month counterparts.  Sellers aren’t having to give as much in closing cost help as they were.

Finally, looking at days on market, another seller’s market trend is clear. Both the six month average and six month median marketing times are shorter than their twelve month respective values.  This means Braemar Arista homes are selling faster.  Though these higher price range homes do tend to take a bit longer to sell than less expensive and smaller homes.

If you placed your Braemar Arista home on the market, priced to current conditions, your could expect it to be under contract in no more than a month, possibly even less time than that.  You could also expect you may have to pay less than 1% of the sales price in closing cost help.

The next Braemar Property Value Report will be in out in September.  Until then, when the time comes to sell your Braemar home, give me a call for the most accurate evaluation of your home and a professional marketing plan that will maximize your profit.  Since 2005, No One Knows Braemar Better!

Chris Ann Clelan

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 Piggyback Quarterly: April-June 2020 (2nd Quarter)

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

Another day, another Braemar market report.  Today’s report is the Braemar Piggyback Quarterly.  This it the report that focuses on the two car garage townhouses that are not only attached on the sides, but also in the back.  Hence the name Piggyback townhouse. They are the only two car garage townhouses in our neighborhood.

During the second quarter there were five Piggyback townhouses that sold.  Sold prices ranged from $347,100 to $360,000.  Details of those five sales are listed below.

Taking these second quarter sales and combining them with the previous three quarters worth of Piggyback townhouse sales, we get an entire year’s worth of data.  The updated six and twelve month data points from that data pool are shown below.

Starting with the sold price column, we see both the six month average and six month median sold prices are above their respective twelve month values.  This means Braemar Piggyback townhouses are still moving up in value.

The seller subsidy column is where we see how much closing cost assistance sellers have been giving buyers.  Though only down by a little, both the six month seller subsidy values are lower than their twelve month counterparts.  This means sellers have been giving a bit less in closing cost help overall.

Finally, when it comes to marketing time, we see that the six month average days on market is nearly a week shorter than the twelve month average days on market.  And even though just by a day, the six month median days on market is shorter than the twelve month median.  The pace of our market means quick sales for sellers with homes priced right and ready to move in.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it would be under contract in about two weeks.  You could also expect to pay about 1.5% to 2% of the sales price in seller subsidy.

The next Braemar Piggyback Quarterly will be out in October.  Until, if the time has come to sell your Braemar Piggyback townhouse, give me a call for a free 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 Patio Quarterly: April-June 2020 (2nd Quarter)

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

Patio Home in Braemar

If you were wondering what your Braemar Patio may be worth in this high buyer demand/low inventory market, today is your lucky day.  This is the Braemar Patio Quarterly, featuring sales of Braemar Patio homes during the second quarter of the year.

There were two sales of Braemar Patio homes in the three months making up the second quarter.  Those sales are detailed below.

In most of the Braemar Patio homes I see with main level bedrooms, there are three bedrooms upstairs and an additional two full bathrooms.  However, the sale on Brewland had only two additional bedrooms on the upper level and the two bathrooms.  The one on Rannoch Forest was lacking a third bathroom on the upper level but had an gorgeous two story living room.  Judging from the price, the two story living room didn’t make up for lacking that third bathroom.

Taking these sales from the second quarter and combining them with the three quarters before, we get an entire year’s worth of sale data for the Braemar Patio homes.  Our updated six and twelve month data points are below.

As usual, we start by looking at the sold price column.  Here we see a slight decrease in the average sold price from the twelve month average to the six month average.  That’s due to the low sale of the most recent sale on Rannoch Forest that lacked that additional full bathroom.  However, the six month median sold price is exactly the same as the twelve month median sold price.  All in all, it seems Braemar Patio home values are remaining stable.

In the seller subsidy column we get a peek at what the average and median amounts of closing cost help sellers are giving in these sales.  The six month average and six month median seller subsidy values are both well below their respective twelve month values.  In this intense seller’s market, buyers are foregoing asking for seller subsidy to just get their offers accepted.  It is fierce competition that buyers in this market are facing.

Finally, when we look at the days on market we see that the six month average marketing time is actually higher than the twelve month average marketing time.  That’s because there was one sale in the first quarter than took nearly six months due to being overpriced for too long. Mind you, they weren’t overpriced by much, but nonetheless, buyers were not going there.  More the trend I expect in this market is the one we see when we find the six month median marketing time is less than half the twelve month median marketing time.

The next Braemar Patio Quarterly will be out in October.   Until then, there has never been a better time to wring out the maximum profit from your Braemar Patio home.  If you want to know what your Patio home is worth right now, give me a call for a free 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 Condo Quarterly: April-June 2020 (2nd Quarter)

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

Summer is definitely here, and as usual, it is hot and humid.  And during these hot and humid months, our Bristow real estate market usually slows a bit.  Not this year!  Our market is crazy busy.  Sellers are cleaning up and buyers are frantic to get a home.  This Braemar Condo Quarterly value report will cover the sales activity in the second quarter, which are the months of April, May and June.

There were five Braemar condos that sold in the second quarter.  The details of those sales are listed below:

Taking these five sales during the second quarter of 2020 and combining them with the sales in the three quarters previous, we get an entire year’s worth of sales data.  Here are the updated six and twelve month data points:

Starting with the sold price column, we see what I would expect to see.  Both the six month average and six month median sold prices are above their respective twelve month values.  Braemar condos are gaining value.

The seller subsidy column is where we see how much closing cost help Braemar condo sellers are giving in their sales.  Again, not surprising to see that seller subsidy in the six month values is below their respective twelve month values.  Even in the five sales we see itemized above, there was only one buyer out of five that got any closing cost help at all.  Clearly, now is the market where Braemar condo sellers can truly maximize profit.

Finally, looking at days on market, we see the average and median marketing time in the six month values is only three days.  That’s below the twelve month average marketing time of seventeen days and below the twelve month median marketing time of six days.  Braemar condos are flying off the shelves.

If you placed your Braemar condo on the market, priced to current conditions, you could expect it to be under contract in days.  You could also expect you may get a buyer that will forego a closing cost help request.

The next Braemar Condo Quarterly will be out in October.  Until then, if you have a Braemar condo you want to sell, give me a call.  I will be happy to put my years of experience in our market to work for you.  And if you are buyer looking for a Braemar condo, I will have hitting the market very soon.  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