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

 

 

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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

Braemar Property Value Report: November-December 2017 (Ryan Homes)

Braemar Property Value Report: November-December 2017 (Ryan Homes)

What a great couple of days to be out and about in Bristow and Gainesville.  It has been sunny and relatively warm.  However, it does look like we have some cooler temperatures coming tomorrow.  A look at the forecast tells me we aren’t with the 15 degree temperature swings.  At least the daylight we are gaining each day is constant.

Right now, it is time for another Braemar Property Value Report.  This one brings up the rear of the single family home reports for the neighborhood and focuses on Ryan Homes properties that sold in the last two months of 2017.

There were Ryan Homes that sold during our reporting period, ranging from $445,000 to $515,000.  The details of those sales are detailed below:

If we take these sales and plug them in with our rolling six and twelve month values, what we find is that the six month average sold price has softened quite a bit compared to the twelve month average sold price.  In a complete contradiction of that information is the fact that the median sold price is only $100 less in the six month value vs. the twelve month value.  This is likely an indicator of more stable market values than the average sold price change in the short term indicates.

The average and median seller subsidy (closing cost help) is virtually unchanged in the short term compared to the long term.  However, the six month marketing time (DOM) compared to the twelve month value indicates that it has been taking longer to sell Ryan Homes in Braemar.

If you placed your Ryan Home on the market, priced to current market conditions, you could expect it to be under contract in two months or less.  (I would think much less given our lack of inventory heading into spring right now.)  You could also expect to pay about $8,000 in closing cost help.

The next Braemar Property Value Report will be out in March.  Until then, if you want to know how the market is affecting your specific home’s value, 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: November-December 2017 (NV Homes)

Braemar Property Value Report: November-December 2017 (NV Homes)

Having been on two Braemar listing appointments this weekend, I have been digging into lots and lots of comps.  That means really digging into MLS listings.  It always troubles me that there are still agents that will barely fill out relevant information in the MLS when marketing a home.  Things I’ve seen left out of pick list items include whether or not a home has a finished basement, deck, patio, fenced back yard and on and on.  In my world the more information you give a buyer, the better, especially if the alternative is leaving OUT valuable information.  That’s one of the reasons I believe so strongly in these market reports that I do for Braemar.

This particular Braemar Property Value Report included NV Homes sold between November and December 2017, of which there were three.  The details of those sales are listed below:

If you are anything like me, the first thing that stands out is the first sale listed and its DOM (days on market.)  That home was on the market just 51 days shy of one full year.  That, in my Braemar real estate world, is unacceptable.  It was a combination of poor listing prep, bad marketing photos and unrealistic asking price that started that had that listing languishing on the market.  One thing I preach to my sellers is no one is going to over pay for a home.  And even projects as simple as carpet and paint make a HUGE difference in buyer perception.  And professional photography makes all the difference when it is show time.

Outside of that listing, we have two other NV Homes that sold in a week or less.  That’s more like it.  When we take all three sales and put them in with our rolling six and twelve month data, we find that prices have softened a bit in the short-term.  Seller subsidy (closing cost help) has increased a bit in the short-term.  And since the average marketing time is going to be thrown off by the anomaly of the 314 day guy, I’m choosing to focus my attention on median here, where we see that in the short-term, homes are selling faster.

If you placed your Braemar NV Home on the market, priced to current conditions, you could expect your home to be under contract in a week or two.  You could also expect you would pay about 1.5% to 2% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in March.  Until then, please give me a call if you have been thinking of selling your Braemar home.  Our market has buyers just waiting to pounce on Braemar homes.  And it’s my job to get you the absolute most for your sale.  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: November-December 2017 (Heritage Series)

Braemar Property Value Report: November-December 2017 (Heritage Series)

Today certainly felt a lot warmer than it has been in Bristow.  Funny when forty degrees feels balmy.  Even still, our low overnight in Bristow will be in the teens tonight.  Brrr.  Another good reason to stay inside and do some reporting on Braemar real estate activity.

This particular edition of the Braemar Property Value Report covers sales activity in the Heritage Series homes during the months of November and December 2017.   Heritage homes are the 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.  

There were six Heritage home sales in the months of November and December.  I was happy to have sold one of those (in purple type) and another that will be included in our next report.  The details of those six sales are as follows:

Placing these sales in with our rolling six and twelve month sales in the Heritage Series, we find that values may have softened the slightest bit in the short term.  Meanwhile, seller subsidy (closing cost help to the buyer), along with marketing time (DOM) have increased a bit in the short term.

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect it to be under contract in about a month or five weeks.  You could also expect to pay a little more than 1% of the sales price in closing cost help to your buyer.

The next Braemar Property Value Report will be out in March.  Until then, if you have been thinking of selling your Braemar home, 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