Braemar Property Value Report: January-February 2020 (Carriage Series)

Braemar Property Value Report: January-February 2020 (Carriage Series)

Come rain, sleet, snow or quarantine for a virus epidemic, this Top Braemar Real Estate Agent is here to bring you the latest information on our neighborhood real estate market in my Braemar Property Value Reports.  Today’s report focuses on Carriage homes  which are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

Looking back to the first two months of the year, there were two Braemar Carriage homes that sold.  Both were Oakdale models and there wasn’t much of a difference in their final sold prices.  Details of both sales are listed below:

Taking the most recent sales data and adding it to the last twelve months of Carriage home sales in Braemar, our six and twelve month data points are updated.  This is where we get a glimpse at what changes are happening in our market.

Looking first at the sold price column, it is great need to see both the six month average and six month median sold prices above their twelve month counterparts.  That means that Braemar Carriage homes have continued to rise in value.  With the demand that our market is still experiencing, I suspect this won’t be the last tick up in value.  The virus epidemic may impact our demand a bit, but I think the worst we will see in the short term is a leveling off of values.

The seller subsidy column reveals a trend that is definite, but certainly not one that favors would-be Braemar Carriage home sellers.  Both the six month average and six month median seller subsidy is higher than their respective twelve month values.  This means Braemar Carriage home sellers are giving more closing cost help to their buyers.

Days on market gives us conflicting information.  The six month average marketing time is three days shorter than the twelve month average marketing time.  Meanwhile, the six month median marketing time is two days longer than the twelve month marketing time.  Neither is a big change, so it seems that the marketing time of a Braemar Carriage home is holding steady.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in about two weeks.  Is that true during the time of quarantine?  Time will tell.  There is still massive buyer demand in our market thanks to the expansion of Micron in Manassas.  As for seller subsidy, you could expect to give nearly 2% of the sales price in closing cost help to your buyer.

The next Braemar Property Value Report will be out in May.  Hopefully, our daily lives will be back to normal by then, or at least nearing normal.  The important thing is to try to protect our communities by remaining distanced until this virus gets under control.  In the meantime, if you have any questions about our real estate market, or what a sale might look like for you in the near future, don’t hesitate to reach out.  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: September-October 2018 (Arista Series)

Braemar Property Value Report: September-October 2018 (Arista Series)

Before starting some preparation for Thanksgiving dishes tomorrow, I thought it would be a good idea to put out this Braemar Property Value Report detailing sales of Arista Series homes in our neighborhood for September and October.  Even though it is fall, there is a lot going on in our market, not even mentioning the news that Amazon chose Arlington for its headquarters.  It is likely some of those newly employed by Amazon will be moving to Prince William County and an Arista Home would be a great choice for them.  If you are wondering what Arista homes are,  they  are the largest homes built by Brookfield Homes and include the Allister, Buckingham and Canterbury floor plans.  

There was only one Arista home that sold in our current two month reporting period.  It was a Canterbury that sold for $570,000.  It had originally listed for an optimistic $615,000.  The final list price, in the details below was $589,900.

When we take this sale and run updated six and twelve month data points, here is what we find:

The good news is that the six month average and median sold prices are higher than the twelve month average and median sold prices.  The trend present in comparing the six month values to the twelve month values is that Arista home prices are still going up.  However, it is not great to know that the most recent sale falls below all but the twelve month average.  If future sales continue to slump, this trend will be coming to a halt.

A trend that is not great for seller is that the average and median six month seller subsidy (closing cost help to buyers) is much higher than the twelve month average and median seller subsidy values.  As our marketplace has been dealing with slowing demand, buyers are asking for more and more closing help.  However, there may be a tad of hope that the most recent sale in October gave no closing help.  Unfortunately, I think that may because of the low sales price.

When it comes to days on market, or marketing time, not much has changed in the short term compared to the longer term.  Arista homes are taking about the same amount of time to sell.  Perhaps we’ll get a lift in marketing time and sold prices as those new Amazon employees discover these lovely homes in Braemar.

If you placed your Arista home on the market, priced to current conditions, you could expect it to sell in as little as a month and a half or as long as nearly eleven weeks.  You could also expect to pay $10,000 to $12,000 in seller subsidy.

The next Braemar Property Value Report will be out in Januaury.  Until then, I hope you have a wonderful holiday season.  If you find yourself in a position to sell between now and then, give me a call.  The year end market has a lot of benefits I would love to share with you.  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 2016 (Arista Series)

Braemar Property Value Report:  November-December 2016 (Arista Series)

The new year is here and while we are less than two weeks into it, I am here to tell you that the buyers are out and house hunting.  The spring real estate market is happening early this year.  Don’t let the snow we saw on the ground fool you.  Of course, this edition of the Braemar Property Value Report is focusing on what happened in the last two months of 2016.  Let’s get to it and see what happened with Arista Series home values.  Arista Series homes are the large, single family homes built by Brookfield Homes.  The floor plans are:  Allister, Buckingham and Canterbury.

Unfortunately there was only one sale of an Arista Series home in the last two months of 2016.  Its sales price was $510,000.  It had been listed for $525,000.  It was a Canterbury model with four bedrooms, two and a half bathrooms and a partially finished basement.   If we took this price and compared it to last report’s average, it would mean about a 3% decrease in value.  However, the great news is that last report, five homes sold and three of them sold for higher than $510,000.  One sold exactly for $510,000.  In other words, there is no cause for alarm.  And since there was no Arista Series home sales in the last two months of 2015, we have no year to year comparison.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contract in a about a month and a half.  You could also expect to pay 2% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in late March and will focus on sales from the first two months of 2017.  Until then, when you are ready to sell 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®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com, www.UncompromisingValues.com

 

Statistics compiled using MRIS (Metropolitan Regional Information Systems.)

Just Listed: Delightful Four Bedroom Home in Braemar for $425,000

Just Listed: Delightful Four Bedroom Home in Braemar for $425,000

When you enter Tarvie Circle the first thing you notice are the many of homes with covered front porches, giving the circle a small hometown, inviting feel.  This four bedroom single family dwelling at 9684 Tarvie Circle is tucked away in the northwest corner of the loop.  The bricked front porch and shingle siding gives the home a craftsman feel. Meanwhile the floor to ceiling windows along the front porch evoke images of New Orleans. Though  two of those aren’t windows, they are fully operational patio doors.

Step inside the foyer and you’ll see hardwood flooring throughout the main level.  Formal living and dining rooms flank the foyer and are where those patio doors to the front porch are located.  Open them in temperate weather for an unbelievable breeze through the home.

Walking past the formal rooms in the center of the home, you pass a main level powder room, the staircase to the bedroom level and come to the kitchen and breakfast room.  The breakfast room shares a two-sided fireplace with the family room on the other side.  There is no doubt that this is where daily casual dining will take place.

The kitchen itself is where the rear load garage attaches to the home and you would normally enter.  Done in white cabinets and counters in a very pleasing beige with veins of blue, this kitchen is light and bright.  The cook in the family will love the sheer amount of cabinet, pantry and counter space.  The bonus to the lucky buyer of this home is that the stainless steel appliances are brand spanking new and have never been used.

Connecting the kitchen and formal dining room, bringing you back to the front of the home, is the butler’s pantry.  This is not a dark pass through, like so many butler pantries you have encountered in other homes.  Light pours in the decorative, circular window above.

The bedrooms are all on the upper level.  Sitting behind a French door entry, the Master Suite gives you loads of space and lots of light in architecturally pleasing windows.  The luxury attached bathroom has two vanities, soaking tub, separate shower and a water closet.  As for closet space, don’t be disappointed that there is only one.  It is an enormous walk-in closet in two sections.

The remaining three bedrooms are all very generously sized and have hall access to the second full bathroom.  For ultimate convenience, the laundry room is located off the upper level hallway.

Unfinished basement is there for you to use as storage, or finish as you see fit.  If you choose the latter, there is a rough-in for a full bathroom.  There is a large amount of space in the basement, so perhaps finishing some and leaving some storage.  It’s up to you.

The rear load garage is the only place where this Braemar single family home is attached to the neighboring property.  If you have a hobbyist who likes to tinker in the garage, they will love the fact there are eleven recessed lights in the garage.  Shelving conveys.

This is a lot of home for the money.  And it is located in the Patriot High School district.  Call and schedule your tour with me today.  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

 

 

 

 

 

Another Three Bedroom Braemar Townhouse SOLD!

Another Three Bedroom Braemar Townhouse SOLD!

On March 31st (2016,) in the late hours of the evening, I uploaded my latest listing into our multiple listing service.  With practically no townhouses on the market in the Bristow area, let alone in Braemar specifically, I knew this three bedroom townhouse at 12164 Drum Salute Way was not going to last.

When the Seller and I had meet to go over comparable sales and pick a list price, the low inventory played a key factor.  If there is ever a time when you can push the envelope and get a higher value for your home, it is when there is no competition.  The recent sales showed that like homes had sold for around $325,000.  The Zestimate on Zillow showed a price of $308,757.

My Seller had replaced virtually everything inside in the townhouse in recent renovations, down to the toilets.  She had a wooded lot, fenced yard, stamped concrete patio, wood deck with retractable awning.  She had even painstakingly planted mini-shrubs called mondo grass so she would never have to mow.  Taking the top of the line condition and the lack of competition into account, we landed on a list price of $335,000.

Within two days we had an offer and threats of more.  While I work at the discretion of my clients, I never advise a Seller to wait and collect offers.  You may lose the early offers you got due to frustration in the lack of response.  And, let’s face it, you can only sell to one person anyway.  Don’t like the offer you got?  Counter it.

My Seller didn’t have to counter.  She had an offer for $345,000 with a request for $10,000 in closing cost help.  She was happy to sign it with only one request, a settlement date in early June vs. mid-May.  The Buyers agreed and just like that, this Braemar townhouse was under contract.

We were all a bit nervous about the appraisal.  Remember when I said comparable sales showed like townhouses sold for $325,000?  That matters to appraisers.  I pulled comps, talked about the market conditions and gave the long list of updates/upgrades to the appraiser.  A week later, I had to call the Seller and tell her the appraisal had come in lower than our sales price, at $340,000.  Because we had the ultimate expectation of $325,000, we both saw it the same way, we were still ahead.

On June 9th, this three bedroom townhouse in Braemar closed for $340,000.  The Buyer still got their closing help and the Seller was able to set the highest sales price in the neighborhood for a townhouse since the fall of 2007, keeping values in our neighborhood rising.

When you are ready to sell your Braemar home, make the most of your only opportunity to get the maximum equity and give me a call.  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 Townhouse Report: March-April 2016

Braemar Townhouse Report: March-April 2016

The weather in Bristow is heating up just in time to coincide with the start of swim season.  This Memorial Day Weekend will likely be a busy one at our two Braemar community pools.  Keep in mind that the pool at Iona Sound Drive is usually not as busy as the one off of Rob Roy Way, which is the one by the townhouses.

Speaking of townhouses, it is time for another Braemar Townhouse Report.  This one will focus on the activity in the months of March and April.  Let’s get to it.

There were six Braemar townhouses that sold between March 1st and April 30th.  The low sold price was $274,000 and the high sold price was $326,000.  Averaging all six sales, we come to our new average market value for Braemar townhouses of $298,033.  That marks a 6% increase in average market value since last report and over a 4% increase in average market value since last year.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in an average of 25 days.  That average is being skewed by a townhouse in extremely poor condition that took 84 days to land a buyer.  I know it was in extremely poor condition because I showed it to one of my own buyers.   As for what you could expect to pay in closing cost help to the buyer, that would be an average of a little more than 1/2% of the sales price.

The next Braemar Townhouse Report will be out in July and will detail sales from May and June. In the meantime, when you are interested in selling your Braemar townhouse, call me for a free market analysis of your specific home’s value.  My most recent Braemar townhouse listing at 12164 Drum Salute Place went under contract, after multiple offers, after only two days on the market.  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

 

Statistics compiled using the MRIS (Metropolitan Regional Information Systems.)

Braemar Property Value Report: March-April 2016 (Ryan Homes)

Braemar Property Value Report:  March-April 2016 (Ryan Homes)

There has been a lot of activity in our Bramar real estate market in the last few months.  In this edition of the Braemar Property Value Report we will look back at the months of March and April and see what happened with respect to homes built by Ryan Homes.

To begin with, there were six sales of houses built by Ryan Homes between March and April.  The low sold price was $417,000 and the high sold price was $499,000.  The average of all five sold prices gives us our new average market value for Ryan Homes of $440,150.  That marks more than a 1% increase in values since last report, but slightly more than a 4% loss in average market value since last year.   Please bear in mind that four of the five sales that occurred during this reporting period were smaller Ryan homes.

If you placed your Ryan Home on the market, priced to current market conditions, this report indicates that you could expect to be under contract in an average of 79 days.    Again, two sales that occurred skew this number.   One home that sold in 244 days and another that sold in 126 days.  Those are way out of line with what you could normally expect.  It is more likely your home would be under in no more than three weeks.  Even that is a stretch if you are priced right and show well.  This report also shows that you could expect to pay an average of nearly 1.5% of the sales price in closing cost assistance to the buyer.

The next Braemar Property Value Report will be out in late May and will detail sales from the months of March and April. In the meantime, when you are ready to sell, call me for a free market analysis of your home’s value in today’s marketplace.  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

 

 

Statistics compiled using the MRIS (Metropolitan Regional Information Systems.)

Braemar Property Value Report: March-April 2016 (NV Homes)

Braemar Property Value Report:  March-April 2016 (NV Homes)

Hopefully everyone in Braemar has their  pool passes ready for the opening of the community pools this weekend.  Memorial Day Weekend is always a busy time at our two community pools.  From the looks of Bristow’s extended forecast, it seems Saturday and Sunday are going to be ideal, sunny pool days.

When it comes to the Braemar real estate market, this may be the ideal time for a Braemar single family home owner to list.  We’re experiencing high buyer demand and not enough homes on the market to meet that demand.  Let’s take a closer look at what happened with NV Homes during March and April in this edition of the Braemar Property Value Report.

There were four houses, built by NV Homes, that sold in March and April.  The low sold price was $541,000.  The high sold price, of which I am proud to have been the listing agent , sold for $580,000.  The average of all four sold prices gives us our new average market value for NV Homes which is $556,250.  That represents a 4% increase in average market value since last report and a little over a 1% increase in average market value since last year.

If you placed your NV Home on the market, priced to current market conditions, you could expect your home to be under contract in an average of about two weeks.  You could also 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 July and will detail sales from the months of May and June.  In the meantime, when you want to sell your NV Home, give me a call for a free market analysis of your home’s specific value.   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

 

Statistics compiled using the MRIS (Metropolitan Regional Information Systems.)

Braemar Property Value Report: March-April 2016 (Heritage Series)

Braemar Property Value Report:  March-April 2016 (Heritage Series)

In the next few days we will be seeing more motorcycles in the area as the annual Memorial Day Weekend tradition of Rolling Thunder nears.  Keep an eye out for motorcyclists when you are on the roads and keep a safe distance in traffic.

Before we head into the holiday weekend, let’s take this opportunity to go over the Braemar Property Value Report for Heritage Series homes in our neighborhood.  Heritage Series homes, for those who may not be familiar, are the mid-sized single family homes, built by Brookfield Homes, with two car attached garages including the following floor plans:  Exeter, Yardley, Zachery & Waverly.  

There were five Heritage Series homes that sold in March and April.  The low sold price was $416,500.  The high sold price was $519,500.  The average of all five sales gives us our new average market values for Heritage Series homes of $453,200.  That is up 4% since last report and up nearly 8% since last year.

If you placed your Braemar Heritage Series home on the market, priced to current conditions, you could expect that it would be under contract in an average of about a month and a half.  That’s information from March and April.  Already I am seeing with my own listings, these homes are hardly lasting two weeks right now.  You could also expect to pay a little over 1.5% of the sales price in closing cost help to the buyer.

The next Braemar Property Value Report will be out in late July and will detail sales from the months of May and June.  Until then, when you are ready to sell, give me and call and let’s talk about the value of your specific Braemar home.  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

 

Statistics compiled using the MRIS (Metropolitan Regional Information Systems.)

Braemar Property Value Report: March-April 2016 (Courtyard Series)

Braemar Property Value Report:  March-April 2016 (Courtyard Series)

The sun is shining and the birds are chirping today in Braemar.  What a pleasant day after so many gray and rainy days.  And if you are a Braemar Courtyard home owner, your day will be made even more pleasant by this Braemar Property Value Report.  If you don’t know what a Braemar Courtyard home is, it is one of three different floor plans that share a private courtyard driveway and have extremely small outdoor spaces.  It is perfect for home owners who want a detached home, but not a large yard to maintain.  Models include the Arlington, Clarendon and Ballston.

There were three Braemar Courtyard homes that sold between the months of March and April.  Oddly enough, all of them were Ballston models.  The low sold price was $363,000 and the high sold price was $405,000.  Averaging all three sold prices, we get our new average market value for a Braemar Courtyard home of $386,000.  That is nearly a 6% increase in value since last report and an 8% increase in average value since last year.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in a little less than two months.  You could also expect to pay an average almost 2% of the sales price in closing cost help to the buyer.

The next Braemar Property Value Report will be out in July and will detail sales from May and June. Until then, when you are ready to sell your Braemar home, give me a call 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.com, www.UncompromisingValues.com

 

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