Braemar Property Value Report: September-October 2019 (Ryan Homes)

Braemar Property Value Report: September-October 2019 (Ryan Homes)

On this Thanksgiving Eve it is my pleasure to present another Braemar Property Value Report.  This particular report covers the sales of homes built by Ryan Homes in Braemar during the months of September and October.

There were two Ryan Homes that sold.  Sold prices were substantially different at $475,000 and $512,000.  The details of both of those sales are below:

Combining these two sales with the entire past twelve months of Ryan Home sales in Braemar, our six and twelve month data points are updated to reveal the following:

Looking first at the sold price column, it is great to see both the six month average and six month median sold price above their respective twelve month values.  This means the values of Ryan Homes in Braemar are still pushing up.

When it comes to seller subsidy, which you may know as closing cost help to buyers, we see a trend that doesn’t favor sellers.  Both the six month average and six month median seller subsidy figures are higher than their respective twelve month values.  This means buyers have been requesting, and receiving, more closing cost help in the more recent deals.  This could be an early indication of a shift from a seller’s market coming our way.  Seller subsidy tends to decrease in seller favored markets.

Finally, the days on market column reveals not much of a change in marketing times from the six month average value from the twelve month average.  And there could not be more evidence of stability in marketing time than seeing that the six month median and twelve month median marketing times are identical.

If you placed your Ryan Home on the market, priced to current conditions, you could expect it to be under contract in under three weeks.  You could also expect to pay about 1% of the sales price or so, in closing cost help.

The next Braemar Property Value Report will be out in January.  I hope you will enjoy your holidays in the meantime.  Of course, if the need arises to sell your Braemar home before you next hear from me with another of these reports, please don’t hesitate to get in touch.  I work every month of the year getting top dollar for my Braemar sellers.  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: May-June 2019 (Ryan Homes)

Braemar Property Value Report: May-June 2019 (Ryan Homes)

With just a few days left in July, I’m getting the last of the Braemar Property Value Reports out for public consumption.  It’s an internal deadline that I set for myself that I will have these out by the last day of the month following the reporting period.  Real estate agents being independent contractors with no one to answer to, setting deadlines is a business practice you will find among top agents.

This particular Braemar Property Value Report covers the sales of single family homes, built by Ryan Homes, during the months of May and June.  During that time, there were four resales, ranging in sold price from $475,000 to $570,000.  Details of those sales are listed below.

Taking these sales above and combining them the entire preceding twelve months of Ryan Home sales, we get new six and twelve month data points, pictured below.

Examining the trends in the sold prices, there is an increase in both the six month average and six month median sold prices from their respective twelve month values.  This means Ryan Homes are still pushing up in value.

When it comes to seller subsidy, a.k.a. as closing cost assistance to buyers,  a trend presents itself that does not favor Ryan Home sellers.  Both the six month average and six month median seller subsidy values are higher than their twelve month counterparts.  This means buyers have been asking for, and receiving, more seller subsidy in the most recent sales.

Days on market, a category that has become unreliable with a change in how that data is recorded in our new MLS, which was adopted in November 2018, we see that the six and twelve month averages are the same.  The six month median is only one day shorter than the twelve month median.

If you placed your Ryan Home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement in a month at worst.  You could also expect to pay about 1.5% of the sales price in closing cost help.

The Braemar Property Value Report will be out in September.  Until then, if you want to investigate what the market might bring in regards to your own home’s value, give me a call for the most accurate, 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

 

 

Braemar Reflection Quarterly: January-March 2019 (1st Quarter)

Braemar Reflection Quarterly: January-March 2019 (1st Quarter)

9684 Tarvie Circle is Listed for $439,000 on April

Having a Braemar Reflection listing currently under contract at 9684 Tarvie, I was really curious to see the latest data in this edition of Braemar Reflection Quarterly. And I have to say, some things don’t match up with my recent experience.  So let’s get to it, the 1st Quarter edition of the Braemar Reflection Quarterly, featuring sales of the semi-detached homes located on Tarvie Circle.

There was one Braemar Reflection home that sold during the 1st Quarter of 2019.  The details of that sale are below:

Taking this sale and combining it with the previous three quarters, six and twelve month data points are updated, and they look like this:

Turns out the sale in the 1st Quarter was the only sale in the previous six months.  The good news is that the $455,000 sold price is higher than the twelve month average and median sold prices.  And knowing what is coming down the pike at 9684 Tarvie, I can tell you that values are still going to be climbing.

The seller subsidy, or closing cost assistance values, are about the same compared to the most recent sale vs. the twelve month average and median.  Buyers are obviously still in need of, or simply expecting, closing cost help to buy a property like a Braemar Reflection home.

Finally, days on market (marketing time) took a lot longer in the most recent sale reported in the 1st Quarter compared to the previous twelve months average and median marketing times.  Even my own listing at 9684 Tarvie was under contract in a matter of days.  Not sure what to make of this, but time will tell.

If you placed your Braemar Reflection home on the market, priced to current conditions, this report would have you believe it would take nearly four months (worst case,) or a couple weeks (best case) to get your home under contract.  Again, I have to defer to my well trained Braemar Real Estate gut and tell you that my most recent listing at 9684 Tarvie was under in only a handful of DAYS.  You could also expect to pay about $9,000 in closing cost help.

The next Braemar Reflection Quarterly will be out in July.  Until then, if you are thinking it is time to sell your Braemar Reflection home, give me a call for fast and profitable results.  You only get to sell your Braemar home once.  Don’t leave it to an agent who has no idea of the value of what they are selling, or who is in the market for it.  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

What Better Thing to Do on a Gorgeous April Day than Sell a Braemar Home?

What Better Thing to Do on a Gorgeous April Day than Sell a Braemar Home?

12146 Millbill Court sold for $499,800 on April 16th, 2019.

On February 28th (2019,) I introduced 12146 Millbill Court to the market. It was priced at $495,800 and offered a near completely renovated home.  Everything but the siding and kitchen cabinets was new.   And the larger than average lot size for a Braemar home, sitting on a cul-de-sac street with a gorgeous tiered deck, well, I knew it was going to get eaten alive by the market.

Sure enough, after the first day on the market, two buyer agents had offers over to me. On the second day, as we were preparing to go over those offers, a third arrived.  The sellers had offers above list.  Buyers were offering free rent backs and having home inspections for informational purposes only.  It was definitely advantage seller.

The sellers didn’t chose the highest offer.  That offer had a home sale that needed to wrap up before closing on this one.  Instead, they made a modest counter to a full price offer they had received with no strings attached.  It offered a free two month rent back and home inspection for informational purposes.  (Take note buyers.  Sellers like certainty.)

On April 16th, this gorgeous home that will be a maintenance free zone for the new owners for likely a long time, closed for $499,800.  

What’s funny to me is that Mr. Seller was worried that they were listing too soon.  He was concerned the grass wasn’t green enough and the flowers weren’t blooming.  A very wise real estate agent (ME) told him that those things didn’t matter.  The green he was going to love was the green he was going to get from selling quickly.  The early spring market has been amazing for Braemar sellers.

There is still very high demand for Braemar single family homes.   Just got another under contract this Sunday after multiple offers.   And another yesterday with multiple offers than I just haven’t had time to tell you about just yet.  Have one you want to sell?  Give me a call and let’s get going.  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 Reflection Quarterly: October-December 2018 (4th Quarter)

Braemar Reflection Quarterly: October-December 2018 (4th Quarter)

Staying inside and avoiding the arctic temperatures in the Bristow area today is my plan.  That also allows me to sit at my desk and put up this most recent Braemar Quarterly property value report.  This particular edition features the fourth quarter sales in the Reflection Series. Reflection Series homes are the semi-detached homes located off of Tarvie Circle.  They are single family homes attached to only one neighbor at the rear load garage.

Unfortunately, there were no new sales of Braemar Reflection homes to report in the fourth quarter of 2018.  That doesn’t mean I don’t have updated data to share with you.  To keep only one year’s worth of data, the sale from the last quarter of 2017 is dropped and new six and twelve month average and median values are calculated.  When that is done, here’s what we end up with:

Looking first at the sold price column, we see that the six month average sold price has fallen ever so slightly below the twelve month average sold price.  Certainly not a cause for alarm, especially when you notice that the six month median sold price is above the twelve month median sold price.  As of the end of the fourth quarter, all evidence points to the fact that Braemar Reflection homes are holding steady in value.

In not so great news, seller subsidy (closing cost assistance to buyers) seems to be on the rise.  Both the six month average and median seller subsidy dollar amounts are higher than what we see in the twelve month average and median seller subsidy figures.  This means Braemar Reflection sellers are giving more money in closing cost help in the recent past.

Finally we come to days on market, or as I like to call it, marketing time.  Both the six month average and median marketing times are slightly higher than the twelve month average and median marketing times.  This isn’t cause for concern. In fact, due to the MLS change our region underwent in November, we may see even more drastic increases in days on market, as that marketing time clock is stopped not by going under contract, but by being under contract with no contingencies.  To read about the confusion this is likely to cause in the next year, you can read my post on the subject by clicking this link.

If you placed your Braemar Reflection home on the market, priced to current conditions, you could expect it to be under contract in about four to five weeks.  You could also expect to give about 2% of the sales price in closing cost assistance to your buyer.

The next Braemar Reflection Quarterly will be out in April.  Until then, if you want to sign up to receive digital copies of these reports, before they are published online, send me an email  at ChrisAnn@LNF.com with your property address and email address.   And whenever you need to know what’s happening in the Braemar real estate market, reach out by call, email or text for a free market analysis of your home’s value.  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 (NV Homes)

Braemar Property Value Report: May-June 2018 (NV Homes)

The opening sentence of my Braemar market reports always seems to be the hardest to get past.  Sure I’ve examined the sales and crunched the numbers myself, which puts me way above what most Bristow area agents are willing to do for their market area.   Somehow, the most intimidating factor about the reports is the open.  It’s a good thing we are past that part now and this Top Braemar Real Estate Agent can share some valuable information with you.

This particular Braemar Property Value Report focuses on the sales activity of NV Homes in Braemar during the months of May and June.  That activity includes four NV Home sales, all of which are listed in detail below:

After laying out the data for the two month reporting period, I then go back and put these sales for May & June 2018 in place of the May & June 2017 sales.  That gives us twelve months worth of data points that I slice into six month and twelve month average and median values.  Here’s what we get with the updated values:

The way to compare six and twelve month data samples is see what changes are happening in the short term (six months) compared to the long term (twelve months.)  Well, the first thing we examine are the sold prices.  Both six month values are above the twelve month values, which is fantastic.  There is a particularly larger jump from the twelve month average sold price to the six month average sold price.  Values of NV Homes in Braemar are going up.

Another good trend for Braemar NV Home sellers is the decrease of seller subsidy (closing cost assistance to buyers) in the six month values to the twelve month values.  Likewise, a reduction in time it takes to go under contract in the six month values is great to see compared to the twelve month values.  In particular, the six month average days on market is substantially lower than the twelve month average.  All good news for NV Home owners in Braemar.

If you placed your NV Home on the market, priced to current conditions, you could expect your property to be under contract in a little more than a week.  You could also expect to pay about one half to three quarters of one percent of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in September.  Until then, when you want to know the value of your home in today’s market, or the optimum time of year to sell, give 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

 

 

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

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

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

In my comings and goings out of the Tartan Hills Village section of Braemar, I have been noticing a lot of Canterbury style homes on the market.  While the activity happening right now won’t show up in this edition of the Braemar Property Value Report, the Arista Series home sales that happened between May and June will be covered here. If you don’t know what an Arista Series home is, it is the larger single family homes in Braemar, built by Brookfield Homes, and include the Allister, Buckingham and Canterbury floor plans.  These homes are found in New Castle Village, Highland Village and the Tartan Hills area of Braemar.

There were two Canterbury models that sold during May and June.  The details of those sales are listed below:

When we take these two sales and combine them with our rolling twelve months of Arista Series home sales and update our six and twelve month data points, here is what we see:

The first thing you may notice is that both sales that happened in our current reporting period have higher sold prices than the six month average and median sold prices.  That’s great.  And that is probably what is pulling the six month average and median sold prices up over the twelve month average and median sold prices.  Higher sold prices in the short term (six month range) compared to the long term (twelve month range) means increasing home values.

When it comes to seller subsidy, the six month average and median are a little lower than there twelve month average and median values.  This is also a good trend.  It means Braemar Arista Series sellers are giving less in closing cost assistance to buyers. Unfortunately, the marketing time seen in the six month average and median values is higher than the twelve month marketing values.  While home values are increasing, it may be taking longer to get under contract.

If you placed your Braemar Arista Series home on the market, priced to current conditions, you could expect it to be under contract in about three months.  However, if the current trends I am seeing with Canterburys on the market, sporting under contract riders on the sign posts in a matter of a one a week or two is any indication, this number may be higher than what we are currently experiencing in our summer market.  This report also indicates you could expect to pay about 1.5% of the sales price in closing cost help.

The next Braemar Property Value Report will be in September.  Until then, if you want to know how the current market is affecting your specific home’s value, 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