Braemar Piggyback Quarterly: July-September 2018 (3rd Quarter)

Braemar Piggyback Quarterly: July-September 2018 (3rd Quarter)

It is time for another Braemar Piggyback Quarterly, detailing sales of Braemar Piggyback townhouses in the third quarter of 2018.  If you are wondering what a piggyback townhosue is, they are not only attached on the sides, but along the back too.  They have no back yards, like traditional townhouses, but have larger bedrooms than a traditional townhouse.  They also have two car garages.

There was one Piggyback townhouse that sold during the third quarter.  Details are below:

That sale alone doesn’t tell us much.  When we take this sale and put it in with the last year of Braemar Piggyback townhouse sales, we do get a chance to look at six and twelve month data points.  Current trends are found in the six month data points compared to the twelve month data points.  These are the current six and twelve month average and median values for Braemar Piggyback townhouses.

For starters, the most recent sale is well above the six month average and median sold prices.  That’s great news.  For trends, the six month average and median sold prices are higher than the twelve month average and median sold prices.   That means values of Braemar Piggyback townhouse are still pushing up.

When it comes to seller subsidy (closing cost assistance to buyers) the six month average is about the same as the twelve month average.  The six month median is a little lower than the twelve month median.  Right now, it seems Braemar buyers are still expecting closing cost help.  And the most recent sale would indicate it could be worse than the average or medians above.

The days on market (marketing time) has increased a little in the six month average compared to the twelve month average.  However, there is a larger increase in the six month median compared to the twelve month median.  Seems it is taking longer to sell Braemar Piggyback townhouses.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to be under contract in about a month or a month and a half.  You could also expect to pay about 1.5% of the sales price in closing cost help to the buyer.

The next Braemar Piggyback Quarterly will be out in January.  Until then, don’t count our fall market.  If you want to know what your home is worth right now, give me a call at 703-4002-0037.  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

Advertisements

Braemar Piggyback Quarterly: April-June 2018 (2nd Quarter)

Braemar Piggyback Quarterly: April-June 2018 (2nd Quarter)

Don’t you wish winter went by as fast as summer does?  We are about halfway through the summer, yet it feels like it just started.  Time flies when you are having fun.

Since we are past the end of June, it is time for another Braemar Piggyback Quarterly.  This report focuses on sales of piggback townhouses in our neighborhood.  These townhouses are not only attached on the sides, but along the back too.  They have no back yards, like traditional townhouses, but also have larger bedrooms than a traditional townhouse.  They also have two car garages.

During the second quarter, there were two Braemar Piggyback townhouses that sold.  Details of those sales are below:

When we take these sales and combine them with our rolling twelve month’s worth of Piggyback townhouse sales, here’s what we find when we update our six and twelve month values:

The six month average and median sold prices have slipped below the twelve month average and median sold prices.  That’s not great, but considering one of the two sales listed above is above both of the six month values, I’m not about to panic.  Seller subsidy (closing cost assistance from seller to buyer) is the same in the six and twelve month median, but the six month average seller subsidy is a little lower than the twelve month average.  That means buyers are willing to go without all of their closing costs being paid by the seller, just to get an offer accepted in this seller’s market.  Marketing time is about the same when looking at the six month values compared to the twelve month values.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect your home to be under contract in about three weeks.  You may also have to pay about 1/2% of the sales price in closing cost assistance to the buyer.

The next Braemar Piggyback Quarterly will be out in October.  Until then, when you want to know how the current market is affecting your 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

 

Braemar Piggyback Quarterly: July-September 2017 (3rd Quarter)

Braemar Piggyback Quarterly: July-September 2017 (3rd Quarter)

If I were to guess what a lot of Braemar home owners were doing this weekend, I would guess shopping.  The Black Friday weekend ushers in the shopping frenzy to Christmas.  While you may be focused on the fourth quarter activities, this Braemar Piggyback Quarterly report is going to take you back to the third quarter.

Before we begin, let me tell you what defines a Braemar Piggyback townhouse.  These are the townhouses with two car garages, attached at the sides and back.  They have no back yard, like traditional townhouses.

There were three Braemar Piggyback townhouses that sold between the beginning of July and end of September.  Those sales are detailed below.

When we take these sales and freshen up our rolling six and twelve month data points, we find that everything from sold prices, seller subsidy and marketing time are remaining stable.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to be under contract in a little more than a month.  You also may not have to pay a dime in closing cost help to your buyer.

The next Piggyback Quarterly will be out in the new year.  Until then, when you are ready to sell your Braemar home, 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

 

 

 

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: July-September 2015

Braemar Piggyback & Patio Quarterly:  July-September 2015

There is an excitement in the crisp fall air as we start to see Christmas decorations springing up around the neighborhood.  Thanksgiving is this week and I feel completely unprepared, but that’s a good thing.  It means I’ve been busy selling Braemar homes.


Right now, it’s time for the third quarter report for Braemar Piggyback and Patio homes.
 We will make comparisons looking back to last report (April-June 2015) and last year (July-September 2014.)   For clarification, Braemar Piggyback Townhouses are attached side-to-side and back-to-back.  While they do not Piggyback Townhouse in Braemaroffer 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.

PIGGYBACK

There were three Braemar Piggyback townhouses that sold in the third quarter.  That’s better than last report  and even last year when we saw none.  The high sold price was $299,000 and the low was $287,000.  The average of all three gives us our new average market value for Braemar Piggyback townhomes of $293,667.  The activity alone is enough to make me smile.  We’ll have to wait for more sales, hopefully in the fourth quarter, to get a feel for the direction market values are heading.

Piggback Q3 2015

If you did place your Braemar Piggyback townhouse on the market, priced to current conditions, this report indicates it would be under contract in an average of 52 days.  You could also expect to give an average of about 1.5% of the sales price in closing cost help to the buyer.

PATIO

Braemar Patio HomeWe saw double the amount of sales activity in Braemar Patio homes this quarter, compared to Piggybacks.  There were six sales between July and September.  The high sold price was $319,000 and the low sold price was $255,899.  The average of all six gives us our new average market value for Braemar Patio homes of $301, 717.  This means our average market value for Braemar Patio homes has decreased by over 3.5% since last report and decreased by over 2.5% compared to last year.

Patio 3Q 2015

If you placed you Patio home on the market, priced to current conditions, you could expect it to be under contract in an average of 28 days.  You could also expect to give an average almost 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 fourth quarter of 2015 and will be out in January.  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.)

Braemar Piggyback & Patio Quarterly: April-June 2014

Braemar Piggyback & Patio Quarterly:  April-June 2014

This is the second edition of the Braemar quarterly report for Piggyback Townhouses and Patio Homes.  As such, we will only have comparisons to last quarter’s report.

For clarification, 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.

PIGGYBACK

Piggyback Townhouse in BraemarAs the second quarter of 2014 came to a close, there were two active Braemar Piggyback Townhouse listings for sale.  Their prices were $285,000 and $280,000.  When it comes to what actually SOLD, there were three Piggyback Townhouse sales.  The high sales price was $305,000 and the low was $280,000.  The average of all three gives us our new average market value of Piggyback Townhouses to be $293,667.  That’s a 4% decrease in value since the first quarter of 2014.

Braemar Piggyback Townhouse Values, 2nd Quarter 2014

If you placed your Braemar Piggyback Townhouse on the market, priced to current conditions, this report indicates it would be under contract in an average of 3 days.  The active listings, however, as of this report, have an average marketing time of 47 days and the counter is still going.  To say the market is shifting would be fair.  Another thing you could expect is to contribute an average of nearly 1.5% of the sales price in closing cost help to the buyer.

PATIO

Braemar Patio HomeClosing out the second quarter of 2014, there was one active Patio Home listing at $300,000 and one under contract, listed for $309,900.  There was only one Braemar Patio Home that made it settlement, but that’s better than none, which is what we saw last report.    The sales price of the one Patio Home that sold is our high, low and average sales price for the second quarter: $290,000.  It’s encouraging that one is under contract that was listed higher.  That may be an indicator that we will see an increase in value in third quarter.

Braemar Patio Home Values, 2nd Quarter 2014

Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037If you placed your Braemar Patio Home on the market, priced to current conditions, this reports indicates it would be under contract in 5 days.  Given the active listing, still counting marketing time at 17 days as of today, and the one under contract that was listed for 15 days, I would say this number will be increasing in future reports.  You could also expect to contribute nearly 2.5% of the sales price in closing cost assistance to the buyer.

The next Braemar Piggyback & Patio Quarterly will cover the second quarter of 2014 and will be out in July.  Until then, if you are thinking of selling your Braemar home, 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.comwww.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)

Braemar Townhouse Report (traditional townhouses with back yards)

Condo Quarterly (townhouse style condos)