Braemar Condo Quarterly: October-December 2015

Braemar Condo Quarterly:  October-December 2015

It finally felt like winter today with the small snowflakes falling from the sky.  Of course, the fourth quarter of 2015 brought exceptionally mild weather.  I don’t ever remember having a Christmas with temps near seventy.

Right now, it is time for another Braemar Condo Quarterly.  This one is focusing on those last three months of 2015 as it pertains to Braemar condo sales.

There were only two Braemar condos that sold in the fourth quarter of 2015 and they both happened in late October.  The high sold price was $260,000; the low, $245,000. Both of those numbers are higher than the high and low we saw in the third quarter of 2015.  The average sales price of $252,500 is up over $5,000 since the third quarter.  It’s also up over $6,000 since the fourth quarter of 2015.  This is good news.

If you placed your Braemar condo on the market, priced to current market conditions, you could expect it to be under contract in an average of five days.  You could also expect to pay an average of about 1.5% of the sales price in closing cost assistance for the buyer.

The next Braemar Condo Quarterly will cover the first quarter of 2016 and will be out in April.  Until then, when you are ready to sell your Braemar condo, call me for a free market analysis.  No One Knows Braemar Better!

And if you haven’t already, please join my Braemar Facebook group.  You can find links to these reports and be involved in all kinds of neighborhood conversations.

Chris Ann Cleland, Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com, www.UncompromisingValues.com

Statistics compiled by Chris Ann Cleland, using the MRIS (Metropolitan Regional Information Systems.)

Braemar Condo Quarterly: January-March 2014

Braemar Condo Quarterly:  January-March 2014

The first quarter of the Braemar condo market was really quiet, but not for lack of buyer demand.  Buyers are out in full force and looking for affordable housing, just like Braemar condos.  Right now, there is only one Braemar condo on the market.  It was listed for $249,900 and after 18 days on  the market went under contract.  I’m sure we’ll be talking about that one at the beginning of July for the second quarter report, but let’s look at what happened in the first quarter.

There was only one Braemar condo sold in the first three months of 2014.  It happened to be my very own listing.   It listed and sold for $240,000.  That’s what the high sold price from last report, but last year the high was $3,000 higher.   However, the average from last year was $219,000.  Maybe prices are rising a bit, but we’re going to need to see some more sales to know for sure.

If you placed your Braemar condo on the market, priced to current conditions, you could expect it to be under contract in 6 days.  You could also expect a buyer to ask for about 1.5% of the sales price in closing cost help.

The next Braemar Condo Quarterly will cover the second quarter of 2014 and will be out in July.  Until then, if you are thinking of selling your Braemar condo, call me for a free market analysis.  No One Knows Braemar Better!

And if you haven’t already, please join my new Braemar Facebook group.  You can find links to these reports and be involved in all kinds of neighborhood conversations.

Chris Ann Cleland, Associate Broker-Licensed in VA

2013 Top Producing Agent & 2013 Top Selling Agent, Long & Foster REALTORS® Gainesville, VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com, www.NVARealEstate.net

Statistics compiled by Chris Ann Cleland, using the MRIS (Metropolitan Regional Information Systems.)

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You can see the other most recent quarterly property value report in Braemar by clicking the link below:

Piggyback & Patio Quarterly (back to back townhouses and quad homes)

Just Listed: Three Bedroom Condo with Garage for $240,000

Just Listed:  Three Bedroom Condo with Garage for $240,000

Townhouses and condos are considered completely different things by many people in Braemar.  Condos are not any particular type of architectural style.  They denote a type of ownership.  A group ownership.

This particular Braemar condo is a townhouse in design.   This time of year when ice and snow are part of our forecasts, buyers will love that it has a one car, attached garage.  Inside, on the main level you will find an open floor plan.  Enjoy a living-dining combo, or just one large living room as you step up onto the second level.  Who needs a dining room when they have a kitchen eat-in area sitting in front of a bay window view of evergreen trees?

 

The kitchen has the shiniest vinyl floors I have ever seen.  To say they are well kept is an understatement.  The kitchen’s biggest advantage is new appliances.  Of course every cook wants to know what the cooking surface is fueled by.  The cooks touring this kitchen will be delighted to see a gas range.

There are two bedrooms on the third, or uppermost, level of the condo.  The one considered the Master Suite has a private entrance to the only full bathroom on this level.  The other entrance to the bathroom is through the hall, where the second bedroom occupant would enter.  The laundry area, with a full size washer and dryer, is also located on this uppermost level.

The third bedroom is on the bottom level of the home.  While it is considered the basement, there is no part of this bottom level below ground.  The bedroom here has similar dimension to the bedrooms upstairs and has its own attached full bathroom.

There are a couple conveniences I did forget to mention:  the powder room on the main level and the built-in bookcase right off the living room.

Perhaps the best thing about this particular Braemar condo is the location.  It is nestled behind evergreen trees in the front, giving cover from Iona Sound Drive, and has trees in the common area in the back.  And it is within a block of the Iona Sound pool and a couple of blocks of Braemar Park.

This Braemar condo won’t be on the market long, so if you want to see it, give me a call.  No One Knows Braemar Better!

Chris Ann Cleland, Associate Broker-Licensed in VA, Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

 www.NVARealEstate.net, www.SellingBraemar.com

Braemar Condo Quarterly: October-December 2013

Braemar Condo Quarterly:  October-December 2013

As I write this Braemar condo report, the remnants of what was supposed to be a snow storm, producing eight inches of snow, is fizzling out in Bristow, VA.  In the end, it will have left us with maybe three inches of snow.  Just goes to show that predictions have a degree of uncertainty.

Based on the Braemar Condo Quarterly for the third quarter of 2013, I would have thought that values would continue to rise for Braemar condos.  Well, that is not what happened.  In the fourth quarter of 2013 there were three Braemar condos that sold.  The high sold price was $240,000 and the low was $227,000.  Both were lower than the high and low in the third quarter.  The average sold price for the fourth quarter was $232,000, down 4.5% since last report.

If you placed your Braemar condo on the market, priced to current market conditions, this report indicates you could expect it to be under contract in a little over two months.  You could also expect a buyer to ask for an average of 2% of the sales price in closing cost help.  Marketing time and seller subsidy have both gone in the wrong directions since last report.

The next Braemar Condo Quarterly will be out in April and will detail the activity of the first quarter of 2014.  Until then, if you are contemplating the sale of your Braemar condo, call me for a free market analysis of your specific condo’s value.  I’ve been a full-time real estate agent and Braemar resident since 2005.  I’ve also been a Braemar Short Sale Agent since 2007.  No matter what your equity position, I can get you the most amount of money for your Braemar condo in the shortest amount of time.  No one knows Braemar better!

Chris Ann Cleland, Associate Broker, Licensed in Virginia, Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com, www.SellingBraemar.com, www.NVARealEstate.net

Statistics compiled by Chris Ann Cleland, using the MRIS (Metropolitan Regional Information Systems.)

__________________________________________

You can see the most recent property values in Braemar by clicking the links below:

Arista Series  (large single family homes built by Brookfield Homes)

Carriage Series (smaller single family homes with detached garages, Brookfield Homes)

Courtyard Series (executive style home, five to a private driveway, Brookfield Homes)

Heritage Series (mid-sized single family homes, Brookfield Homes)

NV Homes (single family homes built by NV Homes)

Ryan Homes (single family homes built by Ryan Homes)

Townhouse Report (traditional townhouses with small back yards)

 

 

Braemar Condo Quarterly: July-September 2013

Braemar Condo Quarterly:  July-September 2013

The chill of fall is in the air and the leaves in Braemar are changing into their autumn colors.  We have hit the beginning of the fourth quarter of 2013.  This is the time when we look back to the third quarter of 2013 and see what happened in the Braemar condo market.

As of today, October 3, 2013, there is Braemar condo on the market priced at $250,000.  There are also two Braemar condos under contract with list prices at $239,950 and $243,900.  That’s what is happening NOW.  But what happened between July and September?

Just like the second quarter report of 2013 (last report) and the third quarter report for 2012 (last year), there were two sales of Braemar condos.  The high sales price was nearly 4% higher than it had been last report and nearly 37% higher than it had been last year.  The low sales price was nearly 11% higher than last report and over 36% higher than it had been last year.  It is also important to note that two Braemar condos were listed and withdrawn from the market, both regular sales.

When it comes to averages, the average sales price of a Braemar condo was nearly 11% higher than it was last report and close to 38% higher than it had been last year.  That is tremendous improvement and great news to Braemar condo owners.

If you placed your Braemar condo on the market, priced to current market conditions, this report indicates that your condo would be under contract in an average of four days.  That 83% faster than it would have gone under contract last report and 67% faster than it would have gone under contract last year.  You could also expect a buyer to ask for an average of about 1.5% of the sales price in closing cost help.

The next Braemar Condo Quarterly will be out in January.  Until then, I wish you all a happy holiday season.  And if you are contemplating the sale of your Braemar condo, call me for a free market analysis of your specific condo’s value.  I’ve been a full-time real estate agent and Braemar resident since 2005.  I’ve also been a Braemar Short Sale Agent since 2007.  No matter what your equity position, I can get you the most amount of money for your Braemar condo in the shortest amount of time.  No one knows Braemar better!

Chris Ann Cleland, Associate Broker, Licensed in Virginia, Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com, www.SellingBraemar.com, www.NVARealEstate.net

Statistics compiled by Chris Ann Cleland, using the MRIS (Metropolitan Regional Information Systems.)

Braemar Condo Quarterly: April-June 2013

Braemar Condo Quarterly:  April-June 2013

To say the Braemar and surrounding Bristow real estate market have been hot this year is an understatement.  There is a serious shortage of inventory for the buyers that want to own property in our area.  Braemar condos are in major demand because of their price range.  They are great for first-time buyers.

The second quarter saw the same number of sales, two, as the first quarter.  The average sales price was up 4% since the first quarter which is great. High sales price was down 2% and low sales price was up 11.5% since the first quarter.  The average seller subsidy (closing cost assistance from buyer to seller) went up by 62%, which given demand, is surprising.  The average marketing time also went the wrong direction as what I was expecting, being 229% longer than it was in the first quarter.

If you placed  your Braemar condo on the market, priced to current conditions, this report indicates it would be under contract in just over three weeks time.  From recent experience selling a Braemar condo this July, I can tell you that you could be under contract in less than one week if your home is in excellent condition.  You could also expect a buyer to ask for an average of 2% of the sales price in closing cost help.

The next Braemar Condo Quarterly will be out in October and will detail sales from the third quarter of 2013.  Until then, if you are contemplating the sale of your Braemar condo, call me for a free market analysis of your specific condo’s value.  I’ve been a full-time real estate agent and Braemar resident since 2005.  I’ve also been a Braemar Short Sale Agent since 2007.  No matter what your equity position, I can get you the most amount of money for your Braemar condo in the shortest amount of time.  No one knows Braemar better!

Chris Ann Cleland, Associate Broker, Licensed in Virginia, Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

 www.SellingBraemar.com, www.NVARealEstate.net

Statistics compiled by Chris Ann Cleland, using the MRIS (Metropolitan Regional Information Systems.)

___________________________________________

You can see the most recent property values in Braemar by clicking the links below:

Arista Series  (large single family homes built by Brookfield Homes)

Carriage Series (smaller single family homes with detached garages, Brookfield Homes)

Courtyard Series (executive style home, five to a private driveway, Brookfield Homes)

Heritage Series (mid-sized single family homes, Brookfield Homes)

NV Homes (single family homes built by NV Homes)

Ryan Homes (single family homes built by Ryan Homes)

Townhouse Report (traditional townhouses with small back yards)

Condo Quarterly (townhouse style condos)

Braemar Condo Sold in Record Time and Above List Price

Braemar Condo Sold in Record Time and Above List Price

In March 2009, I had the pleasure of closing 10024 Lord Lovat Way, a two bedroom, one bathroom, townhouse-style condo in Braemar as a Short Sale.  I was the Listing Agent at the time and represented the Seller.  The home sold for $154,000, but had been listed for $156,000.  The Buyer had her own agent.

Imagine my delight when that Buyer, now wanting to sell, called on me to list the condo.  Why not the agent that represented her in the purchase?  Her logic was that I had already sold the property once, so I knew it.  She’d also been following me in the Bagpiper and on the Braemar Residents Facebook group and knew that I was definitely the neighborhood expert.

We listed the home on June 12th (2013) for $235,000.  Within a matter of days, we had two offers.  The Seller picked one and we were officially under contract on June 18th. There were no bumps in the road with home inspection, termite inspection or appraisal. Of course, the home was in outstanding condition with new carpet, fresh paint and an updated kitchen that included stainless steel appliances and Pergo flooring.

On July 17th (2013) this Braemar condo sold for $241,000.  That’s $6,000 above list price.  The Buyers were able to get $3,000 of their closing costs paid by the Seller, still netting the Seller $3,000 above list price.

If you are thinking of selling your Braemar home, call me for a free market analysis of your home’s value.  No one knows Braemar better!

Chris Ann Cleland, Associate Broker-Licensed in VA, Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

 www.NVARealEstate.net, www.SellingBraemar.com

 

Braemar Condo Quarterly: January-March 2013

Braemar Condo Quarterly:  January-March 2013

 There has been a lot of real estate activity in Braemar since the calendar rolled over to 2013 and it has kept me quite busy.  I’m ashamed to say that it wasn’t until I received a call from a Braemar condo owner looking to sell this summer that I realized I had never published the first quarter stats for Braemar condo resales when March came to a close.  Well, there’s no time like the present, so let’s get to it.

Like the last quarter of 2012, there were only two resales of Braemar condos in the first quarter of 2013.  The high sales price of $243,000 (wow) went to a three bedroom, two and a half bathroom, one car garage condo.  The low sales price of $195,000 went to a three bedroom, three and a half bathroom condo with no garage.  The average of their two sales prices gives us our new average market value for Braemar condos of $219,000.  That’s nearly a 17% increase since last report.  And since there weren’t any Braemar condo resales in the first quarter of 2012, well, we are definitely making some serious progress.

If you placed your Braemar condo on the market, priced to current market conditions, this report indicates your home would be under contract in one week.  It also indicates that buyers are getting an average of almost 1.5% of the sales price in closing cost help from Braemar condo sellers.

The next Braemar Condo Quarterly will be out in July and will detail sales from the second  quarter of 2013.  Until then, if you are contemplating the sale of your Braemar condo, call me for a free market analysis of your specific condo’s value.  I’ve been a full-time real estate agent and Braemar resident since 2005.  I’ve also been a Braemar Short Sale Agent since 2007.  No matter what your equity position, I can get you the most amount of money for your Braemar condo in the shortest amount of time.  No one knows Braemar better!

Chris Ann Cleland, Associate Broker, Licensed in Virginia, Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com, www.SellingBraemar.com, www.NVARealEstate.net

Statistics compiled by Chris Ann Cleland, using the MRIS (Metropolitan Regional Information Systems.)

__________________________________________

You can see the most recent property values in Braemar by clicking the links below:

Arista Series  (large single family homes built by Brookfield Homes)

Carriage Series (smaller single family homes with detached garages, Brookfield Homes)

Courtyard Series (executive style home, five to a private driveway, Brookfield Homes)

Heritage Series (mid-sized single family homes, Brookfield Homes)

Townhouse Report (traditional townhouses with small back yards)

 

Braemar Condo Quarterly: October 2011-December 2011

Braemar Condo Quarterly:  October 2011-December 2011

Time for the year end wrap up of the Braemar condo market.  The fourth quarter of Braemar condo sales was certainly more active than the third quarter.  When statistics were pulled for sales that closed from October 1, 2011 to December 31, 2011 there was only Braemar condo that was lingering under contract.  As of today, January 1st, there are no active listings for Braemar condos.

There five Braemar condos sold during the fourth quarter of 2011.  The majority of them, three to be exact, were Short Sales.  The remaining two included one traditional sale and one foreclosure.  The average sales price of $189,230 is not even a one percent increase since the third quarter, but it is an increase nonetheless.  The reality is that a 0.8% increase is at least representing stability, and that’s a good thing.

The high sales prices is a tad higher this quarter as well.  $500 higher.  The low sales price is $3,000 lower than it was in the third quarter.  Probably the best news is that the average closing cost assistance from seller to buyer is down over 23% since last quarter.  Of course, three of the five sales had a minimum of $5,000 in closing cost help, so that’s the mean.  The average marketing time only increased by one day since the third quarter.  Again, stability is a good thing.

Looking back to the fourth quarter of 2010, Braemar condos have lost almost five in average market value, but by and large, the market is stable.

What all this means is that if you placed your Braemar condo on the market, priced to current market conditions you could expect to be under contract in about one month’s time and give an average of 2.2% of the sales price in closing cost help to the buyer.

If you are thinking of selling your Braemar condo, give me a call for a free market analysis of your specific home’s worth.  Not only have I been a Braemar resident and full-time Bristow real estate agent since 2005, I have also been a Short Sale Specialist since 2007.  In fact, if you are curious about the Short Sale process, I wrote an article that appears in the Jan/Feb 2012 edition of the Bagpiper (Braemar’s newsletter.)  No matter what your equity position, I can get your home sold for the most amount of money in the shortest amount of time.  And remember, no one knows Braemar better!

Chris Ann Cleland, Associate Broker-Licensed in Virginia, Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com, www.NVARealEstate.net, www.SpeakingOfHomes.net

Statistics compiled by Chris Ann Cleland using the MRIS (Metropolitan Regional Information Systems.)

____________________________________

You can see the most recent property values in Braemar by clicking the links below:

Arista Series(large single family homes built by Brookfield Homes)

Carriage Series(smaller single family homes with detached garages, Brookfield Homes)

Courtyard Series(executive style homes, five to a private driveway, Brookfield Homes)

Heritage Series(mid-sized single family homes, Brookfield Homes)

Braemar Townhouses (garage and no garage townhouses, not including patio homes)

Braemar Condo Quarterly: July 2011-September 2011

Braemar Condo Quarterly:  July 2011-September 2011

Three more months of Braemar condo sales are officially on the books.  Let’s take a look and see if Braemar condo values are increasing, stabilizing or decreasing.

As of today, October 2nd, there are three Braemar condos under contract and one available for sale.  Those under contract are Short Sales.  The one left for a Buyer to snag is a Foreclosure.  When looking at the range of list prices between these four Braemar condos, we see a low of $174,900 to a high of $220,000.  If you guessed that the high list price was the one not under contract…you are CORRECT.  After 31 days on the market, it’s time to re-evaluate that optimistic list price.  Average list price of active and under contract Braemar condos is $193,450.  As always, for the best idea of market value, it is best to look at SOLD prices.  Data depicted in the table below reflects the Braemar condos that have sold during the last quarter.

Of the two Braemar condo sales represented on the graph above, we have one regular sale and a Short Sale.  The high sales price comes from the regular sale.  Looking back to the second quarter, high sales price increased by $5,000.  However, the low sales price decreased by $4,500.  What does that do to the average sales price for a Braemar condo?  Well, the new average sales price for a Braemar condo is $187,750, down only 2% since last quarter’s value of $191,500. 

If you placed your Braemar condo on the market and priced it to current market conditions, this report also indicates you could expect to have a contract in 29 days.  That’s only increased by 1 day since last quarter.  You could also expect a buyer to request an average of 3% of the sale price in closing cost assistance.    That’s double the average seller subsidy we saw in the second quarter.

All in all, the Braemar condo market shows signs of stability.  Hopefully we’ll see more of the same, or better in the fourth quarter. 

The next Braemar condo quarterly will be out in January.  Until then, if you are contemplating the sale of your Braemar condo, don’t hesitate to contact me.  I’ve been a full-time real estate agent and Braemar resident since 2005.  I’ve also been a Braemar Short Sale Agent since 2007.  No matter what your equity position, I can get you the most amount of money for your Braemar condo in the shortest amount of time.  No one knows Braemar better!

Chris Ann Cleland, Associate Broker, Licensed in Virginia, Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com, www.SpeakingOfHomes.net,

 www.NVARealEstate.net

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For information on other recent Braemar Property Value Reports, click the links provided:

Arista Series (large single family homes built by Brookfield Homes)

Carriage Series (smaller single family homes with detached garages, built by Brookfield Homes)

Courtyard Series (executive style homes, five to a private entrance, built by Brookfield Homes)

Heritage Series (mid-sized single family homes built by Brookfield Homes)

Braemar Townhouse Report (garage and no garage townhouses, not condos)