Another Braemar Single Family Home Goes Under Contract

Another Braemar Single Family Home Goes Under Contract

On May 5th, I had the pleasure of listing 12146 Millbill Court in Braemar.  Pride of ownership was so obvious in this cul-de-sac charmer.  All the windows, sliding doors, hardwood floors, carpet, roof, gutters, deck and appliances had been replaced withing the last four years.  In that same time frame, the owners had updated the lighting and fixtures in the bathrooms, and added granite counters there and in the kitchen.

Initially, the home was priced at $508,000.  After three weeks on the market, the sellers received their first offer, but what the buyers wanted and the seller would accept were not intersecting at all.  After that, the sellers and I knew that a price improvement to $499,900 was in order.  A month after their first offer, another offer came in.  Again, no intersection between buyers and sellers, so there was no deal.

There were a handful of false starts with other buyers who expressed interest and then disappeared. Not every home goes under contract in less than five days, nor should it.  In this case, it took sixty-six days for the sellers to encounter a buyer that was willing to terms acceptable to them.  It took time and determination from this Listing Agent and the Sellers to prove to the market why this home was worth more than a lot of buyers thought.

This lovely home will close on August 31st, at which time the final sold price will be revealed.  Until then, if you want to know what your Braemar home is worth in the current market, 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

 

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Braemar Property Value Report: March-April 2018 (Ryan Homes)

Braemar Property Value Report: March-April 2018 (Ryan Homes)

The Braemar pool opening weekend is here!  Hope you’ve got your pool pass, swimsuit and sunscreen ready to go.  And don’t forget a brightly colored beach towel.  Even as an adult, picking out a fashionable beach towel is fun.

When you enjoy your work, like I do as a Top Braemar Real Estate Agent, even time spent doing these market reports is satisfying.  Yes, I could be on my front porch in an Adirondack chair, adult beverage in my hand, watching the world go by right now, but I would feel bad enjoying myself when it is time (by my own self-imposed calendar) to do another Braemar Property Value Report.  This one focuses on sales of homes built by Ryan Homes.

There were two Ryan Homes that sold between the beginning of March and end of April.  The details of the sales are below:

When we take these two sales, and freshen up the data for the past year of Ryan Homes sales, here’s what we find:

The first thing I notice looking at these numbers is that the six and twelve month median sold prices are the same.  That means values are holding steady.  However, the six month average value dipping below the twelve month average is not something I necessarily like seeing.  The good news is that it is a small dip and not likely to be a negative indicator.  The best news is that seller subsidy in the six month average and median value has gone down compared to the twelve month seller subsidy values.  That means sellers are paying less in closing cost assistance to buyers in the last six month.  The thing I don’t like seeing is that the marketing time has increased in both the six month values compared the twelve month values.  Still, looking at the raw data, some homes, like the second sale noted above, happen in a week or less.

If you placed your Ryan Home on the market, priced to current conditions in Braemar, you might set your expectations to be under contract in about two months.  If it happens quicker, you won’t be disappointed.  Plus, we are heading into the slower summer selling season.  You could also expect to pay an average of nearly 1% of the sales price in closing cost help to the buyer.

The next Braemar Property Value Report will out in July.  If you have specific questions about selling your home in the meantime, give me a call.  Since 2005, No One Knows Braemar Better!  

Now, if you’ll pardon me, it’s time for me to enjoy that glass of wine on the porch.  Wonder if there will be any deer walking along the wood line.

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

Braemar Property Value Report: March-April 2018 (NV Homes)

Braemar Property Value Report: March-April 2018 (NV Homes)

While this top Braemar Real Estate Agent has been busy with various stages of selling Braemar homes, I am sure that a lot of you have been prepping for the opening of the Braemar pools.  There were several emails that came through about the change of the pool passes.  Getting the new pass, swimsuits and sunscreen have been projects for many Braemar households.   Meanwhile, the pool I’m playing in is Braemar real estate market data.

This Braemar Property Value Report focuses on sales of NV Homes in our neighborhood during the months of March and April.  So without further delay, let’s get to it.

There was only one NV Home in Braemar that sold during our current reporting period.  It is detailed below:

The way I used to do these market reports, having one sale for a reporting period could make our values seem to go up and down like a yo-yo.  Now, by taking this most recent NV Home sale and placing in with the sales of NV Homes in Braemar for the last year, we can derive six and twelve month data points and get a better sense of where values are heading.  Here’s what those data points look like, updated with the sale above:

In a rising market, the six month sold prices are higher than the twelve month sold prices.  Here we see our six month average is higher than the twelve month average, but the six month median is below the twelve month median.  What does that mean?  It means values are holding steady.  In the meantime, the seller subsidy (closing cost assistance) values in the six month data points are lower than the twelve month data points.  That’s great news!  Seller subsidy is going down, meaning Braemar sellers are keeping more money when they sell.  Marketing time is another story.  The six month average is double the marketing time we see in the twelve month average.  However, this doesn’t panic me when I see the six month median is only one week, compared to about two weeks in the twelve month median.  There was one sale in the last six month that took 314 days to happen and it is throwing that average value.

If you placed your NV Home on the market, priced to current market conditions in Braemar, you could expect your home to be under contract in a week or two.  You could also expect to pay about one percent or so of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in July.  Hope you enjoy some fun in the sun at the pools between now and then.  And as always, if you want to know the value of your specific home in our Braemar market, give me a call.  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: March-April 2018 (Heritage Series)

Braemar Property Value Report: March-April 2018 (Heritage Series)

Being a Top Braemar Listing Agent, it is just as useful for me, as it is for you, to run these Braemar Property Property Value Reports.  It keeps me up to date on the latest happenings in the market, which is a must.  Buyer agents, with a desired price in mind to offer, will cherry pick comps and try to beat Braemar sellers down.  Not my Braemar sellers!  When I run market comps, they are solid, but that’s because I study the market by doing these reports and helping so many Braemar sellers.  Going over Braemar comps to me is like Rocky running up and down those steps in Philadelphia.  It keeps me in top listing condition as your Braemar expert.

Today’s Braemar Property Value Report focuses on Heritage Series homes. Heritage Series homes are mid-sized single family homes, built by Brookfield Homes.  They have two car attached garages and include the following floor plans:  Exeter, Yardley, Zachery (a.k.a. Zurich) & Waverly.  The homes built by Coscan in Braemar North Gate are also included in this group, as they are similar in size.

In the months of March and April, four Braemar Heritage Series homes sold.  Details of those sales are listed below:

When we take these sales and put them in with the Heritage homes sale in the last twelve months, we get a fresh set of six and twelve month data points that look like this:

With the six month average and median sold prices being higher than the twelve month average and median sold prices, we can see that Braemar Heritage home prices are still pushing forward.  Seller subsidy (closing cost assistance to buyers) is remaining about the same at about one percent of the sales price.  Marketing time is also about the same, maybe a little faster.

If you placed your Braemar Heritage Series home on the market, priced to current conditions, you could expect it to be under contract in one to three weeks time.  You could also expect to pay about one percent of the sales price in closing cost help to the buyer.

The next Braemar Property Value Report will be out in July.  Until then, when you want a thorough look at your Braemar home’s value in today’s market, give me a call.  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 Reflection Quarterly: January-March 2018 (1st Quarter)

Braemar Reflection Quarterly: January-March 2018 (1st Quarter)

It’s a good feeling of accomplishment to be typing up the last of my Braemar Quarterly market reports before we are more than a third of the way through the second quarter.  This last report for the first quarter of 2018 is focused on sales of the Reflection Series homes in Braemar.  These homes are located on Tarvie Circle and are single family properties attached to another home at the rear load garage only.

In the first three months of the year, there was only one Braemar Reflection home that sold.  The details are listed below.

Being a four finished level home, selling at $465,000, this sale is probably the highest I’ve seen on Tarvie Circle in a long time.  When we take this sale and combine it with the other Reflection home sales from the second, third and fourth quarters last year, we have a full year’s worth of data.  Parsing that data into six and twelve month values gives us a very good feel for what’s happening with Braemar Reflection home values.

The six month average and median sold prices are the same as the twelve month average and median sold prices.  That’s partially because we only had three sales for the entire year’s worth of data and two for the six month figures.  The differences are noticed in the increase in average and median seller subsidy in the short-term, compared to the longer term.  And in the longer marketing time in the short-term.

If you placed your Braemar Reflection home on the market, priced to current conditions, you could expect it to be under contract in about six months.  Honestly, given our lack of inventory compared to increased buyer demand so far this year, it would likely be faster.  You could also expect to pay about 1.5% of the sales price in seller subsidy (closing cost assistance.)

The next Braemar Reflection Quarterly will be out in July .  Until then, if you want to know how much your specific home is worth in today’s Braemar marketplace, give me a call.  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: January-February 2018 (Ryan Homes)

Braemar Property Value Report: January-February 2018 (Ryan Homes)

It’s easy to tell which properties face north as you drive through Braemar, two days after our March snow storm.  They are the ones with snow chunks still in their yards.  My north facing yard may have snow chunks throughout the weekend.

Right now, it is time for another Braemar Property Value Report.  This one focuses on sales of homes built by Ryan Homes in our neighborhood.  Let’s get to it.

Unfortunately, there were no sales of Ryan Homes during the first two months of the year in Braemar.  That’s not from lack of demand.  That’s from lack of inventory.  Trust me.  This top Braemar listing agent was busy getting homes under contract at the end of the year.

When we update the values of Ryan Homes to reflect activity in the last six and twelve months, here is what we find:

Braemar Property Value Report:  January-February 2018 (Ryan Homes)

There is hardly any change in the twelve month median value to the six month median value.  The average value has dipped a little when you look at the twelve month compared to the six month.  In fact, even the seller subsidy (closing cost help to buyers) looks stable.  What doesn’t is the marketing time.  That is inching up in the short term, which makes zero sense based on the buyer demand I am personally encountering in the Braemar real estate market.

If you placed your Ryan Home on the market, priced to current conditions, this report indicates that it could take two and a half months to go under contract.  I have to say, I don’t think that is accurate for the demand we are seeing now.  You could, however, 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 May.  Until then, call me when you are ready to sell.  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: January-February 2018 (Heritage Series)

Braemar Property Value Report: January-February 2018 (Heritage Series)

Can you believe it is the first day of spring and we are battening down the hatches for potentially one foot of snow in Bristow?  Thank goodness that buyers in the Braemar real estate market aren’t in need of warm temperatures or consistent weather to be out house hunting.  They have been out in full force for months.  We just need more homes to sell them.

Right now, it is time for another Braemar Property Value Report, focusing on sales of homes in the Heritage Series.  Heritage Series homes are mid-sized single family homes, built by Brookfield Homes.  They have two car attached garages and include the following floor plans:  Exeter, Yardley, Zachery (a.k.a. Zurich) & Waverly.  

In the first two months of the year, there were five Braemar Heritage Series homes that sold.  The details of those sales are as follows:

There is one sale highlighted in pink.  That was my listing, which garnered the highest net sales price for a four bedroom Heritage Series home.  (Net price is sold price less seller subsidy)  The sold prices ranged from $439,000 to $530,000.  And when we put these sales in with the sales that happened within the last year, here’s how it affects our average and median values:

Both the average and median sold prices for the last six months are higher than their respective twelve month values.  This means values are still going up.  Seller subsidy (closing cost help to buyers) is down in the six month values compared to the twelve month values.  Buyers are finding it is important to make their offers as competitive as possible.  And marketing time is unchanged in the six month median compared to the twelve month median, but the six month average is shorter tan the twelve month median. Homes are selling faster.

If you placed your Braemar Heritage Series home on the market, priced to current conditions, you could expect to be under contract in less than two weeks.  You could also reasonably expect to spend less than 1% of the sales price on closing cost help.

The next Braemar Property Value Report will be out in May.  Until then, I am here to help you when you are ready to sell your Braemar home.  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