Just in Time for the Holidays, Another Braemar Carriage Home Sold

Just in Time for the Holidays, Another Braemar Carriage Home Sold

One one month ago today I listed 13236 Daldownie Court, a three bedroom Norwood model Carriage home for $429,000.  It didn’t take long for the buyers in the marketplace to respond.  The sellers had two offers within two days on the market.  Year end demand is not unusual in our Braemar real estate market.

After an uneventful home inspection and appraisal, the only issues left to resolve for the buyers were HOA covenant violations.  Yes, complying with HOA violations is a necessary thing for sellers in any HOA community.  And even though there the sellers didn’t technically violate any covenants, the bookkeeping with the on-site community management is far from the greatest.  These sellers were violated for a retractable awning that the Braemar Community Association said there was no need to apply for, back in the day,  as long as it matched the exterior trim or siding.  The other violation was having flagstone pavers put in by the builder.

What a reasonable person sees as logical, and can prove, is tossed aside by the covenants administrators.  They like applications on file.  So the sellers filled out an application for both and were in compliance.  A grand waste of time, but I did advise the buyer’s agent that the new owner should hold onto the HOA abatement letter stating the items were in compliance.  Heaven knows they will get violated again when it is their turn to sell.

Today, December 6th (2019) this Braemar Carriage home sold for $430,000.  The buyers were fortunate to get some closing cost help, but less than half of what they had requested.  That’s what happens when lack of inventory puts buyers in competitive situations.  Closing cost help requests are negotiated down, or aren’t even made.

If you have been considering the sale of your Braemar home, don’t think there is only one season that will bear out a favorable sales price.  I sell Braemar homes for top dollar all year long.  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: September-October 2019 (Carriage Series)

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

There is something so beautiful about the the fall and winter sun. The sunbeams streaming through my windows in the morning this time of year seem so much more substantial. That is all due to the sun hanging lower on the horizon.   Of course, the low position of the sun in the sky can be very dangerous for those heading west in their afternoon commutes.  Where there is a plus, there is a minus.  It’s the same in real estate, which is ultimately what I’m here to talk to you about.

This is the Braemar Property Value Report for Carriage homes in our neighborhood.  In this particular edition we get a chance to see what happened in September and October and how that is shaping the over all Carriage home real estate market trends  If you don’t know what homes fall in the Carriages Series, they 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.

In our current reporting period, there were six Braemar Carriage homes that sold.  When you get a look at the details of those sales below, you will see a very tight grouping of sold prices.  Not unusual since all but one of these homes were three bedroom Norwood models.  Only one four bedroom Parkdale (the largest of the Carriage homes) is in this list.  Unfortunately, either its condition or the the location directly backing to the two power transmission lines did not even get its final sold price higher than the smaller Carriage homes that sold around the same time.

Combining all six of these sales with the rolling twelve months of past Carriage home sales our six and twelve month data points are updated.  This is where we get a sense of our trends.

Looking first to the sold price column, we see that both the six month average and median sold prices are higher than their twelve month respective values.  This means Braemar Carriage homes are continuing to push up in value.

Next we turn our attention to seller subsidy (a.k.a. closing cost help to buyers.) Here we see another seller favored trend.  The seller subsidy in the more recent values, six month average and median, are less than the twelve month counterparts.  Buyers in the Braemar Carriage home market are facing more competition, which means they have to lean out their requests to get under contract with sellers.

Last, but not least, we get to days on market.  This is an important value because when you put your Braemar Carriage home on the market, you want to know how long it is going to take to sell.   Looking at the six month average and median marketing times we see that they are both shorter than their respective twelve month data marketing times.  Braemar Carriage homes are selling faster!  Even my most recent listing of 13236 Daldownie Court , listing in November, received two offers in two days!

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it be under contract in less than two weeks…or sooner.  You could also expect to pay about 1% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in January.  Until then, I wish you every happiness this holiday season.  As always, if the need arises to sell your Braemar home, no matter the season, give me a call for the absolute best results.  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!

 

Braemar Property Value Report: July-August 2019 (Carriage Series)

Braemar Property Value Report: July-August 2019 (Carriage Series)

There is no question about it–fall is here.  Overcast, low temps and the hint that leaves are changing color.  With summer behind us, let’s take a look at the most recent Braemar home sales in the Carriage Series. If you don’t know what homes fall in the Carriages Series, they 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 three Carriage homes that sold in July and August.  The details of all three sales are listed below:

Oddly, the lowest sold price at $376,000 was the largest home, but it was a home that had been vacant for over five years and finally sold as a foreclosure.  The sale highlighted in pink was my listing, and for a three bedroom Carriage home, it got a fantastic price.

Taking these recent sales and combining them with the last twelve months of Braemar Carriage home sales, the updated six and twelve month values give us insight as to market conditions.  Below are the updated values.

Looking first at sold prices, we see that both the six month average and median sold prices are above their respective twelve month sold prices.  This means Braemar Carriage homes are still pushing up in value.

Seller subsidy, also known as closing cost assistance to buyers, is going down.  The six month average is below the twelve month average.  And the scant amount we saw in the twelve month median is now zero in the six month median.  Buyers are minimizing their closing cost requests to get under contract in this seller’s market.

Days on market, which I call marketing time, shows that both six month values are lower than their twelve month counterparts.  This means Braemar Carriage homes are selling faster.

If you placed your Braemar 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 two weeks.  You could also expect to pay less than 1% of the sales price in closing cost assistance.

The next Braemar Property Value Report will be out in November.  Until then, if you have been considering the sale of your Braemar Carriage home, don’t under estimate our fall market.  There are still serious buyers out there and very little competition.  Give me a call to learn all about the advantages of our fall 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

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Braemar Carriage Home SOLD… Again

Four years ago, September 29, 2015 to be exact, I sold the Norwood model at 13174 Kirkmichael Terrace Though the buyers that ended up purchasing the home did come through my open house, they had an agent that they were working with.  Even if they had not a buyer’s agent, my business practice is to NEVER do dual agency, which is representing both sides of the transaction.

In June this year (2019,) I was pleasantly surprised to get a call from those buyers that became the owners of 13174 Kirkmichael Terrace.  They were interested in selling and wanted to hire me.  They had been impressed with my professionalism during their purchase.  Staying in touch with my Braemar Property Value Reports was helpful, but what sealed the deal for my being their future listing agent happened at the closing table during their purchase of the home in 2015.  They recounted to me that when they were twenty dollars short to purchase a home warranty, and had no checks or cash to make it up, I reached into my wallet and handed the attorney a twenty dollar bill.   I don’t recall this gesture, but they will never forget.

Fast forward to the current listing, which I was thrilled to get.  They had certainly improved the home with granite counters, stainless appliances and lots of smaller updates to lighting and fixtures.  We looked at the comps and listed on June 15th for $435,000.  Our price was on the upper end of the comparable sales, but I don’t back down from the chance to sell for as much as possible.  That is my job.

The first two offers on the home were not bad, but were far from fantastic.  Being a sellers market, the sellers felt there were better offers ahead, so they passed..  The third offer was the charm and only took two weeks to come in.  The buyer gave the sellers what they wanted in price and what they needed in terms of closing date.  After all, the sellers were also going to be buyers and needed time to find a home.

This Norwood model at 13174 Kirmichael Terrace sold (again) for $437,000 on August 9th, 2019.   

If you have been wondering what your Braemar home is worth in the current market, give me a call.  Getting the market max for your Braemar home is what I do best.  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: March-April 2019 (Carriage Series)

Braemar Property Value Report: March-April 2019 (Carriage Series)

Here we are in the middle of May. School will be out before you know it.  Summer vacations are on the horizon.  And likely, there are some Braemar home sellers that will soon be hitting the market.  While we can’t predict what the market holds, we can look to the most recent sales history and see what has been happening.

Right now, it is time for the Braemar Property Value Report detailing sales of Carriage homes between the months of March and April.  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 three Braemar Carriage home that sold between March and April.  Final sold prices ranged from $395,000 to $435,000.  The details of those sales are listed below:

Refreshing the six and twelve month data points by including these most recent sales into the rolling year’s worth of Braemar Carriage home sales, here is what we find:

Let’s take a look at the sold prices.  The six month average and median sold prices have fallen below the twelve month average and median sold prices.  Our last few reports have had conflicting trends when comparing these six month values to their twelve month counterparts.  One would indicate increasing values.  The other would indicate a softening of values.  While not a big difference, the fact that both six month values are below the twelve month values could be the beginning of softening Carriage home values.  We’ll only know when we get a look at the next Carriage home report.

Another trend that does not favor Braemar Carriage home seller is that seller subsidy (closing cost help to buyers) is higher in both six month values over the twelve month values.

Days on market (marketing time) gives us a mixed bag and still having apples to oranges comparisons until we get to the fall with one year’s worth of days on market data from our new MLS, these numbers may not be entirely reliable.  As they present, the six month average marketing time is longer than the twelve month average marketing time.  Meanwhile, the six month median marketing time is shorter than the twelve month median marketing time.  Rest assured, when it comes to figuring out long it will actually take to sell your Braemar Carriage home, I will calculate recent marketing times by hand during our listing appointment.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract, and well on the way to settlement, in three to eight weeks.  You could also expect to pay about 1.5% of the sales price in closing cost help to the buyer.

The next Braemar Property Value Report will be out in July.  Until then, let me know when you are getting ready to sell your Braemar Carriage home.  Maximizing your profits is a job I do very well.  It all comes from outstanding marketing, negotiating and unparalleled neighborhood market knowledge. 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 2018 (Carriage Series)

Braemar Property Value Report: November-December 2018 (Carriage Series)

Even though most of the snow has melted, there are still chunks present in shady areas.  That’s why this Braemar Real Estate Agent went to a listing photo shoot this afternoon with a snow shovel in her trunk.  Snow is okay, but car exhaust colored snow is not.  There I was, scooping the dark gray snow off of the top of the mound still left on the median strip in front of the home.  That’s what a great listing agent will do. Something else a great listing agent will do will keep you updated on the property values in your neighborhood, and that’s the purpose of today’s Braemar Property Value Report.

This particular Braemar Property Value Report focuses on sales of Braemar Carriage homes during the last two months of 2018.  Before we begin, if you are wondering what differentiates a Braemar Carriage home from others in the neighborhood.  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 two Braemar Carriage homes that sold during our current reporting period.  The details of those sales are listed below.

Taking these two most recent sales and combining them with the entire year’s worth of sales from 2018, gives us the opportunity to take a peek at the update six and twelve month data points.  This data gives us an idea what’s happening with values, seller subsidy and marketing time.

Let’s start by looking at sold prices.  The six month average sold price is slightly below the twelve month sold price.  Taken alone, that would be an indication that values were falling.  However, the six month median sold price is $50 higher than the twelve month median sold price.  That would indicate stable values.  For now, I’m calling our Braemar Carriage home values stable.

When it comes to seller subsidy (closing cost help to buyers,) we have a more definitive answer.  The six month average and median seller subsidy are both below the twelve month average and median seller subsidy.  That means Braemar Carriage home sellers have by and large been giving less closing cost help lately.

Days on the market is going to be a tricky one.  In mid-November, our region switched to a new MLS system that calculates this value differently.  It’s likely the two sales listed above, racked up higher days on market because of this new calculation.  Nonetheless, the six month average and median marketing times are both a bit longer than the twelve month average and median marketing times. . This would normally mean that it’s taking longer to sell Braemar Carriage homes, but we’re going to have inconclusive comparisons in this category until we’ve got one year’s worth of data from our new MLS…which means one year from now.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in about seven weeks.  I’m guessing that time will decrease as we are moving into our spring market.  You could also expect to give about 1% of the sales price in closing cost assistance to the buyer.

The next Braemar Property Value Report will be out in late March.  If you would like to sign up for electronic delivery of this report, which would include an attachment that is much like a financial statement you can save, email me at ChrisAnn@LNF.com.  And of course, when it is time to sell your Braemar Carriage home, call the Braemar Listing Agent with attention to detail and unrivaled experience in the neighborhood.  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