Braemar Townhouse Report: May-June 2017

Braemar Townhouse Report:  May-June 2017

Not every agent that sells real estate in Braemar, keeps their finger on the pulse of the market.  One of the things I love about doing my Braemar market reports is that it keeps me informed of our neighborhood market to keep YOU informed about it.  And doing these reports since 2005 has really helped me understand what makes our neighborhood real market tick.  That knowledge I have acquired through constant compiling of Braemar real estate data makes selling my Braemar listings that much faster and more profitable for my sellers.

This particular report is the Braemar Townhouse Report.  In it, I break down the sales of traditional townhouses in Braemar for the months of May and June.  And just to clarify what a traditional townhouse is, it is one with three levels, a backyard and is NOT condo ownership.

There were twenty-one Braemar townhouses sold in the last two months.  Their sold prices ranged from $280,000 to $359,900.  Each sale is detailed below:

When we combine these most recent Braemar townhouse sales with our rolling six month and twelve month value data points, this is what we find:

Both the six month median and average sold prices are above their twelve month counterparts.  This means values of Braemar townhouses are going up.  More good news is that seller subsidy (closing cost assistance to a buyer) has gone down from the twelve month median and average values, to the respective six month values.  Even marketing time in the six month values has come down ever so slightly.

If you placed your Braemar townhouse on the market, priced to current conditions, you could reasonably expect it to be under contract in one to two weeks.  You could also expect to pay about one percent of the sales prices in closing cost help to your buyer.

The next Braemar Townhouse Report will be out in late September.  At that point we will be looking at activity from the months of July and August.  Until then, if you want to know how recent sales have affected your specific Braemar townhouse, 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®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com 

Braemar Property Value Report:  May-June 2017 (Ryan Homes)

Braemar Property Value Report:  May-June 2017 (Ryan Homes)

The kind of heat wave we are experiencing in Bristow is one that makes you not want to eat.  Foods that normally favorites, like hamburgers, just sound too heavy.   One of my favorites for weather like this is a watermelon and cucumber salad.  Simply cut them both up, put in some of the juice from the watermelon, add salt and you have a light, refreshing salad.  It lasts for days in the refrigerator too.

Just as none of us can do anything but wait through the summer heat, I can’t do anything but report Braemar home values to you in the Braemar Property Value Report.  Selling Braemar homes is my specialty, but no matter the sale, it is always going to be subject to whatever the market conditions happen to be.  So right now, let’s find out what the market conditions are for Ryan Homes in our neighborhood.

There were four Ryan homes that sold between May and June.  Details below.

When we combine those sales with our rolling six and twelve month data pool, what we find is encouraging.

All but one of the Ryan homes sales were above the average and median values of the last six months.  And even comparing the six month average and median sold prices to the respective twelve month values, we find that prices in the short term are higher.  That means values are pushing up.    Unfortunately, seller subsidy (closing cost assistance for buyers) has crept up a bit, but marketing time (DOM) has improved.

If you placed your Ryan home on the market, priced to current conditions, you could expect it to be under contract in about a week, or maybe a little longer than three weeks.  You could also expect to pay about $6,000 in closing cost assistance to a buyer.

The next Braemar Property Value Report will be out in late September.  Until then, if you want to know how these most recent sales affect 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®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com 

Braemar Property Value Report:  May-June 2017 (NV Homes)

Braemar Property Value Report:  May-June 2017 (NV Homes)

The weather the last few days in Bristow, VA has felt sweltering.  High temps.  High humidity.  It makes being outside during the mid-afternoon unpleasant.  These are the dog days of summer and great days to spend at the Braemar community pools.  Of course, I’m still plugging away at my Braemar Property Value Reports.  Three more left to churn out and this NV Homes update in one of them, so let’s get to it.

Between the months of May and June there were four NV Homes in Braemar that sold.   The details of those sales follow:

When we combine the sold prices with our rolling six and twelve month data, what we find in terms of value is good news. Both the six month average and median sold prices are above their twelve month counterparts.  This means values are still pushing up.

Unfortunately, it also appears that seller subsidy (closing cost assistance to buyers) is rising too, but the big number that is going to be throwing off the average here is that $23,000 seller subsidy given on the sale of 10039 Three Sisters.  You’ll also notice that the sold price on that home is much higher than the list price.  Well, in talking with the Listing Agent of that property, when the appraisal came in much higher than the agreed sales price, the buyer’s lender suggested something out of left field–raising the sales price and the seller subsidy.  Truly a strange move and one that is going to throw off NV Homes closing cost assistance averages for the next year.  So for now, let’s rely on the median.  Marketing time seems slightly faster in the six month figures compared to the twelve month values.

If you placed your NV Home on the market, priced to current conditions, you could expect to give about $7,000 in closing cost help.  You could also expect to be under contract in about four to five weeks time.

The next Braemar Property Value Report will be out in late September.  Until then, if you
want to know how these most recent sales are 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®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com 

Braemar Property Value Report:  May-June 2017 (Heritage Series)

Braemar Property Value Report:  May-June 2017 (Heritage Series)

May and June have traditionally been months seeing the most real estate sales activity in Braemar.  This edition of the Braemar Property Value Report, focusing on sales in the Heritage Series, is not breaking that tradition.

Before we get started, let’s clarify what makes a home a Braemar Heritage home.  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 & Waverly.  Of course, Coscan, before they became Brookfield Homes, had some floor plans that crop up occasionally in the older section of Braemar.  They are the size of Heritage homes, thus included in this report.

There were thirteen Braemar Heritage homes that sold between May and June.  That’s a lot when it comes to reporting sales in this series.  The sold prices ranged from $405,000 to $532,500 and are detailed below:

When we combine these thirteen sales with our rolling six and twelve month values, we are able to see what’s happening with values, seller subsidy and marketing time.

Both six month sold values (average and median) are higher than their respective twelve month values.  This shows us that values for Braemar Heritage homes are still moving up.  By comparing the seller subsidy in the shorter term six month value markers to the longer term twelve month markers, we find that closing cost assistance is easing up a bit on sellers.  And marketing time appears to be speeding up in the six month values compared to the twelve month values.  All good news.

If you placed your Braemar Heritage home on the market, priced to current conditions, you could reasonably expect it to be under contract anywhere from mere days to as long as a month.  You could also expect to shell out $3,000 to about $4,000 in closing cost help to your buyer.  Most sellers are still paying something in closing cost help.

The next Braemar Property Value Report will be out in late September.  Until then, if you want to find out how these most recent sales have affected your own 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®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com 

 

Braemar Property Value Report:  May-June 2017 (Carriage Series)

Braemar Property Value Report:  May-June 2017 (Carriage Series)

Happy Monday!  Did you know that Mondays are my favorite days of the week?  That hasn’t always been the case.  It wasn’t until I became a Bristow Real Estate Agent that I actually looked forward to the work week starting up again.   Funny what happens when you find what you were always meant to do.  For me, that’s sell homes.  And my favorite homes to sell are those in our neighborhood of Braemar.

What first attracted my husband and I to Braemar was the curb appeal of the Carriage homes.  I still remember vividly driving around Iona Sound Drive one evening in December when we were checking Braemar out.  Felt like a Christmas tree village had come to life.  Whenever it snows, I still feel that way about the Carriage homes.  The curb appeal is unreal.

In this edition of the Braemar Property Value Report we are going to look back to Carriage home sales in the months of May and June.  Braemar Carriage homes 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.

There were three sales of Carriage homes in Braemar in the last two months.  Their prices ranged from $389,900 to $415,000.

When we combine these most recent sales with our rolling six and twelve month values, we find the values are steady.  The difference between the twelve month median and the lower six month median sold price might indicate softening values, but when you consider that seven of out of ten sales in the last six months were three bedroom Carriage homes, vs. a healthier mix of three and four bedrooms that is present in the twelve month value, there is absolutely no reason for concern.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in one to three weeks.  You could also expect to pay about $4,500 to $5,500 in closing cost help to your buyer.

The next Braemar Property Value Report will be out in late September.  Until then, if you want to know how these most recent sales have affected your specific home’s value, give me a call at 703-402-0037.  That’s what I’m here for.  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 Property Value Report:  May-June 2017 (Arista Series)

Braemar Property Value Report:  May-June 2017 (Arista Series)

As I sit here, about to type the most recent Braemar Property Value Report, I realize
that I completely missed Casino Night at the Braemar Clubhouse last night.  If you went, I would love to hear about, so feel free to share in the comments below.

This edition of the Braemar Property Value Report is focused on activity in the months of May and June for Arista Series homes in our neighborhood.  Arista Series homes are the large, single family homes built by Brookfield Homes.  The floor plans include the Allister, Buckingham and Canterbury.

It is not at all unusual for this to happen, but during our last two month reporting period, there were no sales of any Arista homes in our neighborhood.  That’s okay, because with our new and improved reporting stats, we still have rolling six month and twelve month data to give us an idea what’s happening to the value of Arista homes in Braemar.

The six month average and median sold prices being the same, are higher than the twelve month average and median sold prices.  That could still be an indication that Arista home values are inching up.  The seller subsidy only seems to have decreased when comparing the six month median to the twelve month median.  That could be a good thing, but we need to see more sales to see if that is truly a downward trend.   The marketing time is a much improved number in the six month values vs. both twelve month average and median marketing times.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contract in two to three weeks.  A word of caution though, we are into the slower summer months of July and August.  Popular times for summer vacations usually equate to longer marketing times.  In terms of closing cost assistance, it appears that on average you could expect to pay a little more than 1% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in late September.  Until then, if you want to know how the current market conditions are affecting your specific home’s value, don’t hesitate to call me at 703-402-0037.  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 Reflection Quarterly:  April-June 2017 (2nd Quarter)

Braemar Reflection Quarterly:  April-June 2017 (2nd Quarter)

Hard to believe, but I was just reading about a school supply drive.  Say it isn’t so!  The kids have been out of school only a month.  Summer goes by so fast.  Hope you all are enjoying every minute of it.

Even though it is summer, which means we all get the opportunity to have a little more fun than usual, the job of this Braemar Real Estate remains the same.  It’s my sworn duty to keep you up to date on the latest news in our neighborhood real estate market.  So today, let’s talk about what happened in the second quarter with respect with Braemar Reflection homes.  Reflection homes in Braemar are semi-attached single family homes located only on Tarvie Circle in New Castle Village.  They are attached at the rear load garage.

There was only one Reflection home that sold in Braemar during the second quarter.  Not unusual because these homes makes up such a small percentage of the neighborhood.  Here are the details:

When we take this sale and throw it in with our rolling six month and twelve month averages, the six month values include only the sale above and the twelve month values bring in one more.  So really, we’re looking at how this sale, when lumped in with the previous of the last twelve months, compares.

The comparison is not a simple one.  The most recent sale of 9668 Tarvie, while it did have an unfinished basement just like the only other twelve month sale, had an additional level in a loft that included a fifth bedroom and third bathroom.  Hmm.  So the fact that this home sold for more that the twelve month average and median values is not surprising.  It is simply inconclusive if this means an increase in value.

If you did place your Braemar Reflection home on the market, priced to current conditions, you could expect it to take about three weeks to go under contract.  That’s an improvement over the twelve month marketing time value.  However, you may be expected to pay about $6,000 in closing cost help to the buyer.  That’s not an improvement over the twelve month values.

The next Braemar Reflection Quarterly will be out in October.  From the looks of it, we should have at least one more sale to throw into that rolling twelve month value.  In the meantime, if you want to get a more specific idea of how the current market conditions are 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®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com