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

Advertisements

Link

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

 

 

 

Braemar Property Value Report: September-October 2018 (Carriage Series)

Braemar Property Value Report: September-October 2018 (Carriage Series)

Coming out of my turkey and gravy induced slumber from yesterday’s Thanksgiving feast, the last thing I want to do is wrestle with shoppers on Black Friday.  No sir.  I would make rather dive back into my routine as a Braemar Real Estate Agent.  When you love what you do, it never feels like work.  Today I will share you with you the latest Braemar Property Value Report for Carriage homes in our 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.

This particular reporting period covers the months of September and October, during which time we saw five sales of Braemar Carriage homes.  The details of those sales are detailed below:

When we take the data from these sales and update our six and twelve month values for Braemar Carriage homes, this is what we get:

When looking at the six month average and median sold prices compared to the twelve month average and median sold prices, we see that Braemar Carriage homes are still inching up in value.  That’s good to see.  In fact, all but one of the sales from the current reporting period fall above the six month average and median values.  All good indications.

When it comes to seller subsidy (closing cost assistance to buyers) the six month average and median compared to the twelve month values indicate that sellers have been giving less closing cost assistance.  Again, looking to our current reporting period sales, that is echoed above.  Three out of five sales gave zero seller subsidy.

Days on the market, or marketing time as I like to call it, is another story.  The six month figures are higher than the twelve month, particularly when it comes to median days on market.  Worse yet, the marketing time for the five sales in the current reporting period all took longer than the average and median values noted here.  This is an indication that the buyer demand for Braemar Carriage homes is not as hot as it was.  Values are holding their own and pushing up little by little, but it is taking longer for these homes to sell.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect your home to be under contract in at least a month.  If you looked at the most recent sales, it may take even longer.  You could also expect to pay about 1% or so of your sales price in closing cost help.  Then again, you may luck out like the three of the last five sales have and give nothing.

The Braemar Property Value Report will be out in January.  Until then, I wish you every happiness the holiday season has to offer.  And if you find yourself facing an off spring market sale of your Braemar home, give me a call.  I may be one of the only agents you will ever encounter in our market that can tell you about the secrets that make our year end market a strong one for sellers.  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

Braemar Property Value Report: July-August 2018 (Carriage Series)

Quote

Braemar Property Value Report: July-August 2018 (Carriage Series)

If you had to guess how many properties there are for sale in Braemar right now, what would you say?  This would include all property types (townhouses, single family homes, condos, etc.)  And it would only be the ones that aren’t under contract.  The answer is twenty-three, and two of those are Braemar Carriage homes.  Twenty three homes is about as much as I have seen on the market at one time in Braemar this year.  Could it be that demand is winding down?  Well, I doubt that’s the case for Braemar Carriage homes, but in this edition of the Braemar Property Value Report, we will take a look at the sales from July and August and see where trends are heading.  And if you aren’t familiar with what a Braemar Carriage home is, 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 four Braemar Carriage homes that sold between the beginning of July and end of August.  Sold prices ranged from $400,000 to $419,900.  Details of each sale are listed below:

Don’t be alarmed by the sold price range.  As you can see above, three out of four of these homes were three bedroom homes, and the smallest Braemar Carriage home floor plan available to boot–the Maplewood.  When we take these four sales and update our rolling twelve month store of Braemar Carriage home sales data, here is what we find:

When we look at the six month average and median values compared to their twelve month counterparts, what we want to see in the six month values is increases in sold prices, and decreases in seller subsidy (closing cost assistance sellers gave to buyers) and days on market (marketing time.) Let’s start with the sold prices.  The six month average and median sold prices are above their twelve month counterparts.  That’s a great start.  It indicates that Braemar Carriage home values are still pushing upward.

When we move to look at seller subsidy, we see that the six month average is slightly below the twelve month average.  However, the six month median is higher than the twelve month median.  These value trends are opposed to one another, but I think it is safe to say that seller subsidy is marching up.  That median value is a true look at the middle value in all the solds, while the average is just that, an average.

We get back to good news when we see that both the six month average and median days on marketing is lower than the twelve month values.  So while Braemar Carriage home sellers may be giving a bit more in closing cost assistance, they are selling for more and selling a tad faster in the short term.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect your home to be under contract in just under a week or two.  You could also expect to pay an average of about 1% of the sales price in seller subsidy.  All in in all not bad when you consider that buyers can receive 3% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in November.  Until then, when you get the thought that the time may be approaching to sell your Braemar home, give me a call.  It’s never too early to start speaking with this Top Braemar Listing Agent.  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

 

 

Braemar Property Value Report: May-June 2018 (Carriage Series)

Braemar Property Value Report: May-June 2018 (Carriage Series)

What a gorgeous Friday it was in Bristow.  I hope you enjoyed it because this weekend is going to rainy and stormy.  In fact, I received a weather alert on my phone that the week of upcoming rain may result in some flooding in our area.  Please be careful when driving in low lying areas.

Right now, it is time for another Braemar Property Value Report.  This one focuses on the sales of Braemar Carriage homes during the months of May and June.  In case you don’t know what defines a Braemar Carriage home, 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 five Braemar Carriage homes that sold during the months of May and June.  The details of the sales are below.  I am very pleased to tell you that the sale of 10143 Broadsword Drive, highlighted in a magenta color, was my listing that set a record high sold price for Parkdale model homes in Braemar.

When we take these five sales and put them in with our rolling twelve months of Braemar Carriage home sales, here’s what we find when pull out our six month and twelve month average and median data points:

The six month average sold price is quite a bit higher than the twelve month average sold price.  Meanwhile, the six month median sold price is a tad higher than the twelve month median.  This means Braemar Carriage home values are going up.

When looking at seller subsidy (closing cost help to buyers) has decreased slightly in the six month values compared to the twelve month values.  That’s a step in the right direction for Braemar Carriage home sellers.  And marketing time is also down a little bit in the six month average and median values compared to the twelve month values.  More movement in a good direction for Braemar Carriage home sellers.

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

The next Braemar Property Value Report will be out in September.  Until then, it is very important to remember that the agent you hire to sell your Braemar Carriage home can mean a substantial difference in your sales price.  If you want the best chance at getting the most from your Braemar homes sale, trust the agent that sets record high prices.  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