Braemar Piggyback Quarterly: January-March 2017 (1st Quarter)

Braemar Piggyback Quarterly:  January-March 2017 (1st Quarter)

Are you as happy as I am that it is sunny today?  Too many dreary days in a row bring me down.  Guess I should enjoy this sun while I can.  The extended forecast for Bristow had shown a lot of cloudy days coming up, but I just looked and it seems that some of those days are now showing as partly sunny.  We’ll have to wait and see what Mother Nature gives us.  Predicting the weather may be similar to predicting real estate values.  You can say exactly what is going to happen, but you can have a pretty good idea.

In this Braemar Piggyback Quarterly we will look at the most recent sales activity and how that compares the six and twelve month values compiled.  Of course, let me explain what type of home we are referring to when we say Piggyback.   Braemar Piggyback Townhouses are attached side-to-side and back-to-back.  While they do not offer back yards, they offer large bedrooms and a two car garage.  

There was one Braemar Piggyback townhouse that sold in the first quarter of 2017.  It was located at 12760 Brewland Way and was an end unit, so it had a nice side yard to offer.  It listed for $329,500 and sold for $317,000.  It also took 31 days for it to go under contract.  How does that compare to the six and twelve month values we have?

While there are only two values for the total of the six month period, the most recent sale at $317,000 being one of those, it appears the most recent sale is pulling values up.  The average six month sold price (and median) was $312,300.  The average twelve month sold price was $302,263.  The median sold price in the last twelve months was $308,800.  That makes it obvious that this most recent sale is indeed pulling values up.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to take 20 to 36 days to go under contract.  You could also expect to pay some closing cost help.  The most recent $4,125 average seller subsidy number found in the last six months is probably a great place to set expectations.  Lack of inventory has lead to more buyer competition.  And when buyers compete in real estate, requests for closing cost help often diminish or disappear entirely.

The next Braemar Piggyback Quarterly will be out in July.   Until then, if you want to take advantage of the increased buyer demand in Braemar, give me a call.  Since 2005, No One Knows Braemar Better!

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 

Braemar Piggyback & Patio Quarterly: April-June 2016

Braemar Piggyback & Patio Quarterly:  April-June 2016

We are well into summer in Braemar.  Seems this time of year always goes by a lot faster than any of us would like, particularly the kids who are enjoying their summer vacation from school.

Right now, we are going to take a look back at the second quarter sales activity for Braemar Piggyback and Patio homes.  In case you aren’t familiar with these types of home styles, Braemar Piggyback Townhouses are attached side-to-side and back-to-back.  While they do not offer back yards, they offer large bedrooms and a two car garage.  Braemar Patio Homes are also known as quads.  Each is attached at the side, back and corner to another Patio Home.  They have two levels, also offering large bedrooms and a modest side yard.

Braemar Piggyback TownhousePIGGYBACK

There was only one sale of a Braemar Piggyback townhome in the second quarter, unlike the two sales that happened in the first quarter this year.  Still, it is better than the activity we had in the second quarter of 2015, which was none.  This recent sale is nearly 4% lower than the average sales price last quarter.  Unfortunately, the recent sale is also lower than the lowest price last quarter.  We will have to keep an eye out in future reports to see where Braemar Piggyback values go long term.

Braemar Piggback Townhouse Values, 2nd Quarter 2016

If you placed your Braemar Piggyback townhome on the market, priced to current conditions, you could expect that it would be under contract in as little as three days.  You could also expect to pay 3% of the sales price in closing cost assistance to the buyer.

PATIO

There were two sales of Braemar Patio homes in the Braemar Patio Home in Braemarsecond quarter.  This is one less sale than we saw last quarter and one less than we saw in the second quarter last year.  The average sales price of a Braemar Patio home is now $297,000.  That’s a drop in value of nearly 1/2 of 1% since last quarter and a drop of over 5% in value since last year.  I am hopeful, given market demand, that these values will be coming up in future reports.

Braemar Patio Home Values, 2nd Quarter 2016

If you placed your Braemar Patio home on the market, priced to current conditions, you could expect it to be under contract in an average of eighteen days.  You could also expect pay an average of under 1% of the sales price in closing cost help to the buyer.

Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037The next Braemar Piggyback & Patio Quarterly will cover the third quarter of 2016 and will be out in October.  Until then, when you are ready to sell your Braemar home, call me for a free market analysis.  No One Knows Braemar Better!

Chris Ann Cleland, Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.comwww.UncompromisingValues.com

 

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