Braemar Property Value Report: January-February 2019 (Carriage Series)

Braemar Property Value Report: January-February 2019 (Carriage Series)

As the thaw out from winter is underway in Bristow, it is time for another Braemar Property Value Report, detailing sales of homes in the Carriage Series.  This edition focuses on the activity in January and February.   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.

During the first two months of the year, there were two Carriage homes that sold.  Both were three bedroom Norwood models.  Their sold prices were $402,000 and $425,000.

Taking these sales and combining them with the last twelve months of Braemar Carriage home sales, we get updated six and twelve month data points.  

When it comes to sold prices, the six month average sold price is slightly below the twelve month average sold price.  Meanwhile the six month median sold price $1,000 above the twelve month median.  Neither change is notable, so we can determine that Braemar Carriage home values are stable.

Seller subsidy also shows some mixed information.  The six month average seller subsidy is less than the twelve month average.  At the same time, the six month median is exactly the same as the twelve month median. Relative stability in what sellers are giving their buyers in closing cost help is what we can infer here.

Finally we look at marketing time, or days on market. The six month average and median marketing times are both above the twelve month values.  Because we switched to a new MLS that calculates these values differently in the fall, it’s going to be until next fall that we have an apple to apples comparison.

If you placed your Carriage home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement in about a month and a half.  You could also expect to give $5,000 to $6,000 in closing cost assistance to your buyer.

The next Braemar Property Value Report will be out in late May.  Until then, if you want to know what your Braemar Carriage home is worth, get in touch with me 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

 

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Braemar Property Value Report: January-February 2019 (Arista Series)

Braemar Property Value Report: January-February 2019 (Arista Series)

As I type up this most recent Braemar Property Value Report for home sales in the Arista Series, it is St. Patrick’s Day.  Will the luck of the Irish be with us in this report? Thankfully, luck has nothing to do with the market.  It’s all supply and demand.  Keeping regularly tabs on the market stats gives us the best idea of where supply and demand are trending.

Before we get to the report itself, if you don’t know what a Braemar Arista Series home is, they are the largest homes built by Brookfield Homes in Braemar.  The floor plans include the Allister, Buckingham and Canterbury.

During the current reporting period of January and February, there were no Arista homes that sold.  Supply problem or demand problem?  Hmm.  We’ll know next report because there are currently quite a few Arista homes on the market.

What we can do is take a look at the refreshed six and twelve month average and median values. 

Unfortunately, the six month average and median sold prices have fallen below the twelve month average and median sold prices.  Values had been slipping in recent sales near the end of the year.  That is an indication that demand for the largest homes in the neighborhood was waning.  Only time will tell if that continues.

Seller subsidy (closing cost assistance to buyers) is much lower in the six month values compared to the twelve month values.  Buyers in the most sales did not require large amounts of closing cost help.  That’s good news.

When it comes to days on market (marketing time) we see mixed information.  The six month average marketing time is lower than the twelve month marketing time.  Meanwhile, the six month median marketing time is higher than the twelve month median.  Neither change is very dramatic.

If you placed your Braemar Arista home on the market, priced to current conditions, these numbers indicate that your home should be under contract and well on it’s way to settlement, in eight to ten weeks.  You could also expect to pay a small amount in closing cost help.

The next Braemar Property Value Report will be out in May.  Until then, if you would like to know what your home would be worth in today’s market, call me for a free market analysis.  Since 2005, No One Knows Braemar Better! 

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

Under Contract After Multiple Offers in Forty-Eight Hours in Braemar

Under Contract After Multiple Offers in Forty-Eight Hours in Braemar

Waiting for the grass to green up, flowers to bloom and trees to bud before you list your Braemar home?  You may want to think again.  Take the action that 12146 Millbill Court had, after listing on February 28th (2019.)

The first day on the market there were three showings, resulting in two offers. 

The second day on the market there were five showings resulting in one more offer.

The third day on the market, while the sellers were getting final initials on the one offer of the three received that best fit what they wanted, there were five more showings and more buyers begging to be considered before the sellers favorite became a ratified contract.

Now is the time to list.  The weather is less than perfect and unpredictable.  The grass is not the greenest.  The trees have yet to sprout buds and nary a flower can be found.  None of that matters when buyers are knocking themselves out to make Braemar sellers happy.

Have a Braemar home to sell?  Want the strongest possible terms from your buyers?  Call me and let’s get going before you fall into the late spring/early summer trap of too much competition and buyers on vacation.

Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

 

Just Listed and Nearly Under Contract in Braemar: 12146 Millbill Court for $495,800

Just Listed in Braemar: 12146 Millbill Court for $495,800

When sellers in Braemar ask me when is the best time to list their homes, my answer is some variation of, “When no one else is listing.”  That’s usually fall to late winter.  Believe it or not, our fall and late winter markets are full of demand.  And with few houses to choose from, the sellers listing at those times do very well and go under contract very quickly…that is if they are priced right and show well.

The sellers of 12146 Millbill sure did take my advice.  They decided to list on the last day of February (2019.)  Believe me, they had their doubts.  The aesthetics of the lawns, trees and shrubs are not great this time of year.  Add in a snow forecast that turns to cold drizzle and any seller could talk themselves of out listing until the lovely, warm months of April, May or June.  But the point is not how great the outside looks, but how many buyers are competing the few homes on the market.

Priced at $495,800, this three finished level, cul-de-sac lot home in Braemar had seven showings in the first twenty-four hours on the market and had three offers in hand! . Take a look at the virtual tour and you’ll see why.

If you have a single family home in Braemar you want to sell, NOW is the time.  Give me a call and let me help you maximize your profit with very little time on the market.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

 

Coming Back to the Market: 12146 Millbill Court at $495,800

Coming Back to the Market: 12146 Millbill Court at $495,000

Last spring, and into the summer, I listed one of my favorite Braemar homes yet–12146 Millbill Court It blew me away that buyers were unable to see what this home offered.  Everything but the kitchen cabinets and exterior siding had been replaced.  The peace of mind buying a home with no big ticket maintenance items coming up was lost on buyers who put priority on HGTV’s latest and greatest color palettes vs. a home that would cost them practically nothing in maintenance for years to come.  Paint is way less expensive than new windows, a new roof, , new HVAC, new deck, new hardwood floors,  new carpet, new appliances….you get my drift.

The sellers of this fantastic find in Braemar are coming back on the market, having made a couple changes to the home.  New pictures are yet to come, so let me tell you what the sellers have done.  Gone is the desert beige color in the kitchen and family room.  That color had more pink in it than even the sellers expected at the time.  New for 2019, that color was replaced with one of Sherwin Williams’ most popular paint colors, Accessible Beige.  It goes with warm or cool color palettes. You’ll love it!

Feedback from buyers last year was that they loved the cul-de-sac lot, but didn’t like being able to see other homes from the deck.  While it is an unavoidable fact that Braemar is a popular community with many homes on quarter acre or smaller lots, and seeing another home is likely on the majority of lots, the sellers added some fast growing arborvitae that will provide a nice screen.  Don’t worry.  They aren’t two foot saplings.  They are about five feet tall and grow as much as three feet a year.

Keep those improvements in mind as you look through the virtual tour New pictures will be shot toward the end of this month.  This home is sure to make a buyer very happy, but won’t be hitting the market until February 28th.  If you think you have an interest in this home, I may be able to convince the sellers to allow a sneak peek.  Just reach out to me via phone, text or email.

Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

 

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

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

There is no more appropriate picture for the Ryan Homes edition of the Braemar Property Value Report being published today than the one above.  That was an Oberlin model that I sold as a Short Sale a few years ago.  As a Top Braemar Real Estate Agent, I get plenty of gorgeous weather shots of homes, but not too many in the snow.  That’s because not many folks list for sale in the winter months.

You may be surprised how much demand we actually have during the winter in Braemar.  This report alone covers the months of November and December, which most think are dead zones are in real estate.  Yet, there were four sales of homes built by Ryan Homes in our neighborhood in the last two months of 2018.  The details of those sales are listed below:

First thing you may notice are the outliers at either end of the sold price spectrum:  $440,000 and $615,000.  Fortunately, the method of taking these four sales and compiling them with the entire past year’s worth of Ryan home sales, we get a more stable picture of what is happening with values by separating out six and twelve month data points.

Stability leaps off the table in the sold price column.  The six month average sold price is only $133 below the twelve month average sold price.  Meanwhile the six and twelve month median sold prices are exactly the same.  Really, Ryan homes have not gained, or lost any ground.

Seller subsidy (closing cost assistance) seems to have decent trend happening when we look at the six month average falling below the twelve month average.   Yet the six month median seller subsidy is the same as the twelve month median seller subsidy.  Of course looking at two of the most recent sales above, they fall above both of the average and median seller subsidy   Probably best to call this one stable for now.

Days on market is a category that is going to be tricky for a while.  In November, our region switched to a new MLS system which counts days on market differently.  So until we have a full year’s worth of data in the new MLS, which would be this same time next year, we can’t conclusively say what’s what.  However, glancing at the six month average and median values compared to the twelve month average and median values, I’m not seeing the increase in marketing time that I expected with the new MLS.

If you placed your Ryan home on the market, priced to current conditions, you could expect it to be under contract and potentially well on its way to settlement within two months.  You could also expect to pay at least half of one percent of the sales price in closing cost help.

The next Braemar Property Value Report will be out in late March.  If you would like to receive the full, letter size, Ryan Homes Braemar Property Value Report by email, send me an email at ChrisAnn@LNF.com.   Of course, if the time comes when selling is in your future, call me for a free market analysis.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

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

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

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

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

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

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

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

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

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

The next Braemar Property Value Report will be out in late March.  If you would like to sign up for email delivery of the full, letter size report, email me at ChrisAnn@LNF.com.  Of course, when the time comes when a sale may be on your horizon, give me a call at 703-402-0037.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com