Another Braemar Home Under Contract After Multiple Offers

Another Braemar Home Under Contract After Multiple Offers

On March 6th (2020,) I had the pleasure of introducing 12157 Millbill Court to the market.  The sellers had done kitchen and bathroom updates in the last two years.  Before listing they had new carpet installed and worked on de-cluttering and staging the home so would be ready for its professional photo shoot.

While Mother Nature gave us a drizzly and cloudy day for the photo shoot, it didn’t matter.  The interior of the home was smiling widely.  The listing was put in the MLS as “coming soon” and the throng of buyers and their agents was unleashed on my cell phone.

There is no getting into a “coming soon” listing before it becomes “active.”  A listing agent who allows anyone to tour a listing that is coming soon can be subject to a $5,000 fine in our marketplace. 

On Friday, March 6th, the listing rolled to active and the showings commenced.  The very first schedule request we had, toured the property on the 6th and wrote an offer as soon as they left.  Even having an offer that first day, my sellers wanted to wait to review offers until the weekend was over.  By that time, they had three offers.

To say there is intense buyer demand in Bristow is an understatement.  At present, the coronavirus has only impacted our market in that mortgage interest rates are getting even lower, heightening buyer demand even more.  Of course, the Micron expansion in Manassas continues to be a major economic force, bringing more employees to the area.

This Braemar home will go to settlement on April 30th.  You’ll have to stay tuned to this blog for the final sold price.  In the meantime, if you want to sell during this time of intense buyer demand while prices are soaring, I am here to help.  Call me for a free consultation on how to get the best results.  Even in a seller’s market, the agent you hire makes a difference to your bottom line.  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

 

Just Sold: Three Bedroom, End Unit, Garage Townhouse in Braemar for $386,000

Just Sold: Three Bedroom, End Unit, Garage Townhouse in Braemar for $386,000

On January 23rd (2020,) I had the pleasure of introducing 9619 Innerwick Place to the market, priced at $384,900.   Being that there were NO Braemar townhouses on the market at that moment, I knew it would be a quick sale.  Three finished levels in a garage, end unit townhouse with three bedrooms, two full bathrooms, two powder rooms, a two level bump out, fenced back yard, deck, patio and hot tub hitting the market was like throwing chum in shark infested waters.  And the prep my sellers had done with refinishing their hardwood floors, installing new carpet and neutralizing the interior paint made it possible to increase their projected list price before we ever hit the market. Not surprisingly, my sellers had an offer the very first day.

Having one offer was great, but my sellers wanted to go through the first weekend,  have two open houses, THEN  see what they were being offered.  After fourteen showings and twenty-two buyers through the two open houses, they were left to review three offers.  There was one that stood out as highest and best, so they accepted it.  However, as I often caution sellers in this seller’s market, when a buyer gives you exactly what you want with higher price and no closing cost help, home inspection can be a very painful point of renegotiation.  In the case of that first contract, that painful point of renegotiation ended up with a dead deal.

Just as sellers need to understand that buyers have expectations when they overshoot list price and don’t ask for closing cost help, buyers also need to understand that homes aren’t going to be rebuilt for them just because they were the highest offer.

Thankfully, the first offer was in back up offer position and the sellers were able to move seamlessly into the next deal.  It was a buyer with a need for a lot of closing cost help, FHA loan with a low down payment, but was grateful that they had finally gotten under contract.  The home inspection on the second deal was way more reasonable and kicked up very minor issues.

This townhouse went to closing today for a final sold price of $386,000.

When the time comes for you to sell your Braemar townhouse, hire wisely.  Having an Associate Broker with a decade plus of experience in many different market conditions will benefit you no matter what happens during your sale.  My expertise and commitment to top notch marketing, from staging to professional photography, will get you the absolute most the market will bear.  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

Coming Soon: Updated Four Bedroom Single Family Home for $549,000

Coming Soon: Updated Four Bedroom Single Family Home for $549,000

On Friday, March 6th (2020,) showings will start at 12157 Millbill Court in Braemar.  Located at the end of a cul-de-sac in an often forgotten part of our Braemar community, this gem is ready for its next owners.  With three finished levels, updated kitchen and bathrooms, and new carpet, there is not much for the next owner to do but move in.

Hardwood flooring takes you throughout the main level with the exception of a carpeted family room and tiled laundry room and powder room.  The kitchen is sure to please with updated appliances, fixtures and granite counters.  Personally, I love the fact that the kitchen is open to the sun room, a breakfast nook and the enormous family room.

Upstairs you find three generously sized secondary bedrooms and an updated hall bath.  The master suite itself will bring a smile to even the pickiest buyers’ faces…just take a look at the updated spa-like bathroom.

The basement is mostly finished and boasts a walk out level exit.  In fact, there is an unfinished room with a full window that can be finished for a legal fifth bedroom.  The recreation space is expansive and there is even a third full bathroom on this level.

Outdoor space includes a patio under the deck and a fire pit in the back yard.  

Deck

The back yard of this home is much larger than most homes in Braemar.   Yes it backs to the sound wall off of Linton Hall Road, but don’t let that deter you from seeing this fantastic Braemar home.  By the time you are done with your home tour, you won’t be thinking about that sound wall, but the privacy it gives you to enjoy your back yard.

If you haven’t yet hired an agent to help you in your home search and want to take a look this weekend, 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 Townhouse Report: November-December 2019

Braemar Townhouse Report: November-December 2019

Bringing up the rear in latest editions of Braemar market reports is this Braemar Townhouse Report.  This particular report looks back to sales of traditional townhouses in Braemar during the months of November and December 2019.  Let’s get right to it.

There were six Braemar townhouses that sold during the last two months of 2019.  Their sold prices ranged from $315,000 to $385,000.  The details of each sale are listed below.

Combining all six of these sales with the entire year’s worth of Braemar townhouse sales from 2019, our six and twelve month data points are updated as follows:

Looking first at the sold price column, we see that the six month average is only fifteen dollars less than the twelve month average.  That would indicate stability in Braemar townhouse prices.  However, looking at the six month median sold price being three thousand higher than the twelve month median, we are left with information that Braemar townhouses are continuing to push up in value.  Having recently listed a Braemar townhouse, I can tell you that demand is there to keep prices going up.  We’ll see what our next report shows us.

Next up is the seller subsidy column.  Seller subsidy is also known as closing cost help to buyers.  Both the six month average and six month median seller subsidy values are above their respective twelve month values.  This means, in the more recent sales, Braemar townhouse buyers are asking for, and receiving, increasing amounts of closing cost help.

The last column is days on market, or as I like to call it, marketing time.  Here we see that marketing time has ticked up in the six month values compared to their twelve month counterparts.  I call tell you from recent listing experience, Braemar townhouses are in high demand.  I expect to see this number fall in our next report or two.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in no more than two to three weeks.  You could also expect to pay about 1.5% of the sales price in closing cost help.

The next Braemar Townhouse Report will be out in March.  Until then, if you have been waiting for the spring 2020 market to list, spring has already sprung.  Demand is there, but your competitors are not.  Now is the time to get going.  Give me a call and let’s talk price, timing and marketing to get you the absolute most the market will bear.  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 2019 (Ryan Homes)

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

As January draws to a close, I am here at my desk getting the last of the Braemar Property Value Reports, detailing sales from the last two months of 2019, published.  Today’s edition focuses on houses built by Ryan Homes in Braemar.

Between November and December 2019, there were three Ryan Homes that sold in Braemar.  Final sold prices ranged from $485,000 to $540,000.  The details of those three sales are listed below.

Taking all three of three Ryan Home sales and combining them with the entire year’s worth of Ryan Home sales from 2019, our six and twelve month data points are updated and give us the indicators as to what has been happening in our market.  Here is the updated six and twelve month snapshot:

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 respective twelve month values.  This means Ryan Homes have been pushing up in value in the last six months.

When it comes to seller subsidy (closing cost help to buyers,) we see another seller favored trend.  Both six month values are below their twelve month counterparts.  This means that in the last six months, buyers have been asking for less closing cost help.

Days on market (marketing time) shows a trend in the opposite direction.  Both the six month average and six month median marketing times are longer than the corresponding twelve month values.  This means it has been taking a little longer to sell Ryan Homes in the last six months of sales.

If you placed your Ryan Home on the market, priced to current conditions in Braemar, you could expect it to be under contract in about two to four weeks.   You could also expect to give less than 1% of the sales price 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 the spring 2020 market may be when you want to sell, know that real estate spring happens a lot sooner than Mother Nature’s spring.  Right now buyer demand is very high and we have little to nothing on the market.  Those are the conditions that are most seller favorable.  Give me a call and let’s talk timing, price and marketing to get you the absolute most the market will bear.  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 Townhouse: Under Contract in Four Days After Multiple Offers

Braemar Townhouse: Under Contract in Four Days After Multiple Offers

On January 23rd (2020) I was proud to present 9619 Innerwick Place to the market.  Priced at $384,900, this townhouse had a lot to offer buyers..and the market responded.  The first day, the sellers had an offer.  The second day, they had another offer.   The sellers had decided  to wait through the first weekend and two open houses before deciding on an offer.  By that time, there had been fourteen showings with agents and twenty-two buyers through the open houses.  That’s a lot of people looking for Braemar townhouses.  And right now, as I type this, there is not a Braemar townhouse on the market at all.  And in all of Bristow, there are only three townhouses on the market.

After three offers, the sellers went under contract with a very seller favorable offer.  Final details will be revealed when the sale closes in late February, so stay tuned for that.

In the meantime, if you have been thinking of selling your Braemar townhouse, there is no time like the present.  Buyers will gobble it up. Of course, the key to getting the top of the market price is listing prep and professional marketing.  Just click the property address above for the photos of this townhouse.  When you hire me to help you sell your Braemar home, that’s what you get.  No detail is overlooked, because there are dollars in the details.

Give me a call and let’s get started.  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 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