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

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

There is no doubt that winter arrived early in Bristow.  Snow flurries and freezing temps are here. Brrrr.  I hope you have all winterized your hose bibs.  If not, definitely make it a priority.

For now, my priority is bringing you this Braemar Property Value Report, detailing sales of homes in the Arista Series. Those are the largest series of homes in Braemar built by Brookfield Homes.  The floor plans include the Allister, Buckingham and Canterbury.  The most popular of these floor plans in Braemar is by far and away the Canterbury.

During the current reporting period of September and October, there was only one Arista home that sold.  The details are listed below:

Even though there is only one sale, that doesn’t mean we can’t get an idea of value and other trends in the market.  This report gives values in increments of six and twelve months based on the entirety of sales for the last twelve months.  Those data points this report are listed below:

Looking first at sold price, it is outstanding to see that the sale of 9946 Broadsword sold for higher than our reported six month average and six month median sold prices.  Furthermore, just the six month sold prices compared to their twelve month counterparts shows that the Arista home sales in the more recent past are higher.  This means values are still pushing up.

Seller subsidy, unfortunately, is always pushing up in the six month values compared the twelve month values.  Seller subsidy is closing cost help that sellers give buyers from their net proceeds at closing.  This number moving up is not a shock given my first hand experience in the market place.  Buyers have been asking for, and receiving, more closing cost help lately.  If demand in our market wanes, this trend will continue.  If demand increases, we could once again see seller subsidy decrease.

Days on market does show a positive trend.  Both the six month average and six month median marketing times are below their respective twelve month values.  This means that Arista homes in Braemar are selling in a shorter amount of time by a week or a so in the more recent sales.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect your home to be under contract in a little more than a month. You could also expect to pay 1% to 1.5% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in January. Until then, there are still buyers out looking to be “home for the holidays.”  If a need to move has arisen in your household, don’t hesitate to find out why waiting for spring may not be the only answer.  I am here to help you any time of the year.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

Under Contract Before I Could Tell You It Had Just Listed

Under Contract Before I Could Tell You It Had Just Listed

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

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

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

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

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

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

 

Since 2005, No One Knows Braemar Better!

 

Another Braemar Townhouse Sold by Chris Ann Cleland

Another Braemar Townhouse Sold by Chris Ann Cleland

On September 26th, this piggyback townhouse located at 13036 Bathgate Way hit the market priced at $355,000.  As the competition around this listing seemed to be languishing on the market and dropping their prices below where we were hitting, I had to wonder if we would be languishing too.  Not at all.  It was a delightful surprise to have two buyers with competing offers within four days. Who would have guessed there were multiple buyers who wanted a property like this, priced above its competitors, based on what we saw hitting the market?

Great results start with choosing the best agent for the job.  For this seller, and many other Braemar sellers, that is me.  I know how to market the various styles of homes in the neighborhood because I am familiar with all of them.  I have been a resident of the neighborhood since 2005, and I have served most of those years on an HOA board.  My slogan, No One Knows Braemar Better, is most definitely true.

Not only do I know the neighborhood and how to position the listings I have against their competition, I know how to market them professionally to get my sellers the maximum attention from online buyers.  Professional photography is a must, but so is preparation prior to photos.  That’s where my marketing skills come in handy, helping my sellers edit their “stuff” so their homes show in the absolute best light.  Any agent can take your listing, snap some photos and throw you in the MLS.  Professional marketing gets the best results.  You don’t put a listing up with the phrase, “Immaculately kept” and have towels in bathrooms look as though they were thrown from across the room to land haphazardly on the towel rack.  Attention to detail is critical for a listing agent.

Getting under contract quickly, and in an unexpected multiple offer situation, my Bathgate seller got terms that favored her.  The next hurdle was getting the home to appraise for the list price the buyer was willing to pay.  Remember, our competitors were dropping their prices to get noticed.  That’s not a environment that is easy to deal with come appraisal time.  As is my business practice, I met the appraiser at the property with information on the home, what set it apart from its competition and comparable sales that we had based our list price on.  Low and behold, we were through appraisal with no issue.

The only speed bump this sale hit was in the processing of the buyer’s grant from VHDA.  Our settlement date was delayed from Halloween to November 5th (2019.)  There is no escaping government bureaucracy, but a great agent keeps their client informed every day as to what is happening….even if that is nothing.

When you are ready to sell your Braemar home, remember that success starts with your choice of agent.  Your decision should be based on results and how the agent’s previous listings have been marketed and sold. Of course, an agent who can get you the best results is not going to be cheapest, but they will make you the most money.   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 Piggyback Quarterly: July-September 2019 (3rd Quarter)

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

Yesterday I was at a birthday celebration and one of the guests had received a my under contract postcard for 13036 Bathgate Way.  It briefly told the same tale as my blog post on the subject.  Of course, the other guests started asking what a piggyback townhouse was.  The image that the term conjured in their mind was a townhouse on top of a townhouse, like you would find at Heathcote Commons.  Those are referred to as “stacked condos.”

In Braemar, a piggyback townhouse is one that is back to back with another row of townhouses.  And just like a traditional townhouse, they are also attached on the sides. The trade off for not having a back yard is that you get much larger bedrooms than a traditional townhouse and an attached two car garage. This report details the sales of Braemar Piggyback townhouses that happened from July to September.

There was only one sale of a Braemar Piggyback townhouse during the third quarter of 2019.  The details of that sale are listed below:

While there was only the one sale, combining it with the previous three quarters of Piggyback sales gives us an entire year’s worth of sales data.   From that the six and twelve month data points are freshened up to reveal the following:

Looking at the sold price column, it is a sign of rising property values that both the six month average and six month median sold prices are above their twelve month counterparts.  This indicates Braemar Piggyback townhouses are still pushing up in value.  However, seeing that there are four Braemar Piggyback townhouses sitting on the market, I’m not sure this trend is going to continue.  Only time will tell.  We’ll have to wait and see.

Now for the seller subsidy column.  As of the end of the third quarter, buyers were having to compete for these homes and forego or drastically reduce their requests for closing cost help.  However, the beginning of the fourth quarter is revealing a different trend that will become clear in our next report.

Days on market also reveals that as of the end of the third quarter, these Braemar Piggyback townhouses were selling faster in the short term six month values, compared to the longer term twelve month values.   Again, just looking at the days on market peeling off for the homes just sitting on the market now, this is a trend we are likely to see change by the second quarter of 2020.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect your home to be under contract in a week.  If it is not, there is something wrong with either your marketing or list price, or both.  I am still puzzled that my listing at 13036 Bathgate had two offers, yet there are similar listings still waiting for offers just lingering on the market.  Also, this report indicates you could potentially get an offer with no closing cost help requested.  However, as demand wanes, this is likely to no longer be the case.

The next Braemar Piggyback Quarterly will be out in January and will detail the activity from the fourth quarter.  Until then, don’t squander your only chance to maximize the profit from the sale of your Braemar home.  When it is time to sell, 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

 

 

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

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

The overnight temperatures in Braemar are dropping as we get into late October.  Brrr.  We got very close to freezing temperatures last night, yet our day time temps will be in the mid-sixties.  That’s a big swing.  Thank goodness we aren’t seeing swings like that in our Braemar real estate market.   Yes, it is time for another Braemar Patio Quarterly Report, detailing sales of the two-level, one car garage, quad style townhouses in our neighborhood.  Let’s get right to it.

During the third quarter of 2019, there were three Braemar Patio homes that sold.  I am pleased to have represented one of those sellers.  In the details of those sales below, my listing is highlighted in pink.

 

Taking these third quarter sales and combining them with the previous three quarters worth of sales, we get updated six and twelve month data points.  Let’s see what they can tell us about our Braemar Patio home market.

Starting with the sold price column, we see that the six month average sold price is well above the twelve month average sold price.  That alone would indicate a very healthy increase in values.  However, the six month median sold price is exactly the same as the twelve month median sold prices.  This indicates stability.  From where I stand, I see these homes are still pushing up in value, even though it may not be by leaps and bounds.

Seller subsidy, also known as closing cost assistance to buyers, shows a definite trend.  Both the six month average and median seller subsidy values are well above their twelve month average and median comparisons.  Buyers are asking for, and getting more, closing cost help.

Days on market shows another clear trend.  Both the six month average and median marketing times are shorter than their respective twelve month average and median values.  This means Braemar Patio homes have been going under contract in less time.

If you placed your Braemar Patio 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 pay 1.5% to 2.5% of the sales price in closing cost help.

The next Braemar Patio Quarterly will be out in January.  Until then, if selling your Braemar home is on the horizon, give me a call for the most accurate assessment 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 Condo Quarterly: July-September 2019 (3rd Quarter)

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

The fourth quarter of the year is upon us, bringing us brilliant fall colors and chilly temperatures to Bristow.  Of course, with the third quarter behind us, we can look back and track some Braemar property values.  This report, the Braemar Condo Quarterly, looks at sales of the townhouse style condos in our neighborhood.  Those condos are located on Caithness, Moxleys Ford, Lord Lovat and Heykens.

During the third quarter, which encompasses the months of July, August and September. there were two Braemar condos that sold.  Details of those sales are listed below:

Taking these two sales and combining them with the previous three quarters worth of sales, we have one year’s worth of Braemar condo sales.  From that, we get updated six and twelve month data points, which are as follows:

Starting with sold price, it is good to see that both the six month average and six month median sold prices are higher than their twelve month respective values.  This means that Braemar condos are still pushing up in value.

Seller subsidy, also known as closing cost assistance to buyers, saw an increase in the six month values compared to their twelve month counterparts.  This is not a great trend for sellers, but it could be a lot worse.  Buyers can ask for 3% or more of the sales price in seller subsidy when presenting their offer.   What we see here in the six month values, buyers are asking for about 1.5% of the sales price in closing cost help.  Lack of inventory to meet buyer demand has kept buyers making the most competitive offers they can.

Finally, days on market reveals conflicting information.  The six month average marketing time is two days longer than the twelve month average marketing time.  Not a drastic increase at all, but an increase in marketing time nonetheless.  Meanwhile, the six month median marketing time is three days shorter than the twelve month median marketing time.  Three days shorter in one statistic, two days longer in another.  I am happy to call this even and proclaim that marketing time is largely unchanged.

If you placed your Braemar condo on the market, priced to current market conditions, you could expect it to be under contract in as little as a few days, or as long as nearly three weeks.  You could also expect to give about 1.5% of the sales price in closing cost help to your buyer.

The next Braemar Condo Quarterly will be out in January.  Until then, if a move is in your future, give me a call for the most accurate information on our market and 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