Braemar Property Value Report: May-June 2020 (Heritage Series)

Braemar Property Value Report: May-June 2020 (Heritage Series)

When I prepare the various editions of the Braemar Property Value Report, I am always excited to see how any listings I had compared with other sales of similar properties.  In this edition of the Braemar Property Value Report for the Heritage Series homes, I have a chance to do that.  Heritage 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.

There were eight Heritage homes in our neighborhood that sold during the months of May and June.  My listing is highlighted in the detailed sales below in pink.

At first glance, my listing at 9658 Granary Place was the third lowest sold price in all the sales above.  However, when you look at it compared to the other unfinished basement home sales, it was the highest sold price.  My sellers got $17,000 over what was, at the time, a reasonable list price.  In fact, they set a record for the highest sold price for an unfinished basement home sale in the Heritage Series since probably 2005 or 2006.

Taking these eight sales and combining them with the entire previous twelve months of Heritage home sales, our six and twelve month data points are updated as reflected below.

Starting with the sold price column, we see that both the six month average and six month median sold prices are above their respective twelve month sold prices.  That means Braemar Heritage homes are continuing to move up in value.

When it comes to seller subsidy we see how much Braemar Heritage home sellers have been giving in closing cost help summarized with the average and median values.  The six month average seller subsidy is less than the twelve month average seller subsidy.  Not surprising considering buyers are having to write stronger and stronger offers more recently to even be considered.  The six month and twelve month medians are the same at zero.  That means half or more of Braemar Heritage home sellers are not giving any seller subsidy.

Days on market shows a surprise uptick in marketing time.  The six month average marketing time was four days longer than the twelve month average marketing time.  However the most recent sales above show no longer marketing time than fourteen days.  That means the sale(s) bringing up the average are not ones that happened in the two most recent months.  Meanwhile, the six and twelve month median marketing times are identical at six days.

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect it to be under contract in a week or two.  You could also expect to pay very little, if anything, in closing cost help.

The next Braemar Property Value Report will be out in September. Until then, there may never be a better time to cash out for max profit when selling your Braemar home.  There is no question that our circumstances of intense buyer demand and not enough homes to meet it, has created a bubble.  When will it burst?  We’ll only know when values start their downward trend.  If you want to know where your value may be with a sale in the near future, call me for the most accurate analysis of your Braemar home’s value and let’s set another record high sold price.  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: March-April 2020 (Heritage Series)

Braemar Property Value Report: March-April 2020 (Heritage Series)

What a gorgeous start to the Memorial Day Weekend.  Doesn’t get any better than blue skies, sun and warm temperatures to kick off a long weekend.  While my fellow Braemar home owners are likely getting stocked up on hamburgers and hot dogs for holiday cookouts, I’m going to share with you another Braemar Property Value Report.  This one focuses on sales of Heritage homes in our neighborhood.  Heritage 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.

There were six Braemar Heritage homes that sold during the months of March and April.  The details of those sales are listed below:

Final sold prices ranged from $460,000 to $556,000.  You will notice that the $556,000 sale on Millbill is highlighted in pink.  It’s highlighted because I was the listing agent on that home.  While I am here like clockwork every other month bringing you property value reports, I also like to share that I do, in fact, list and sell homes in the neighborhood.  My sellers enjoy fantastic results.

Taking these six sales and combining them with the entire last twelve months of Heritage home sales, we get updated six and twelve month data points, as shown below:

Looking first at the sold price column, we see that both the six month average and six month median sold prices are higher than their respective twelve month values.  This means Braemar Heritage homes are still gaining value.

Seller subsidy (also known as closing cost assistance to buyer from seller) doesn’t show as clear a trend.  While the six month average seller subsidy is lower than the twelve month average, the six month median seller subsidy is higher than the twelve month median.  Still, looking at the highest number in this column, we see that seller subsidy is very modest in the current seller’s market.

Marketing time currently shows a trend in one direction.  Both the six month average and six month median marketing times are longer than the twelve month average and median marketing times.  This means it has taken a bit longer for Heritage homes to go under contract in the last six months.  Of course, looking at the most recent sales from March and April, it is likely the trend for marketing time will decrease next report.

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect it to be under contract in as little as a week, as long as a month.  You could also expect to pay less than half of 1% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in July.  Until then, the question I get asked most often right now is how the pandemic is affecting our real estate market.  Right now, it doesn’t seem to be affecting anything but HOW we list and tour houses.  Braemar is still experiencing a strong seller’s market thanks to historically low mortgage interest rates, the expansion of Micron in Manassas bringing thousands of jobs to our back yard and the Federal government being the largest economic force in our area.

If you have been considering the sale of your Braemar home, but have been hesitant because of the pandemic, let’s talk.  With my professional marketing and unparalleled knowledge of our market, we can list and sell your home safely and for top dollar.  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: March-April 2020 (Arista Series)

Braemar Property Value Report: March-April 2020 (Arista Series)

Despite the shut downs still in place with the COVID pandemic, the Bristow real estate market is hopping.  Our home sellers and home buyers are lucky that our Governor considers real estate an essential business.

Right now, it is time for the Braemar Property Value Report that focuses on sales of Arista homes in our neighborhood.  Arista homes are the large single family homes built by Brookfield Homes in our neighborhood and are one of three models:  Arista, Buckingham or Canterbury.

There was one Arista home that sold during our current reporting period of March and April 2020.  The details of that sale are listed below.

Taking this sale and combining it with the entire past twelve month’s of Arista home sales, our six and twelve month data points are updated as pictured below:

The great news, probably in large part to the outstanding sales price of $690,000 that our most recent sale pulled down, is that the six month average and median sold prices are well above the twelve month average and median sold prices.  That means Braemar Arista homes are still gaining value.

Better news for Braemar home sellers looking to hit the market soon is that the six month average and median seller subsidy values are well below the twelve month average and median seller subsidy values.  What does this mean?  In the more recent sales, Braemar Arista home sellers have been giving less money in closing cost help to buyers.

Finally, another good trend is found in the days on market column.  The six month average and median marketing times are shorter than the twelve month average and median marketing times.  This means Braemar Arista homes have been selling faster recently.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contract in about two weeks.  You could also expect to pay minimal amounts of closing cost help, if any.

If you know someone in the market for an outstanding Canterbury model in our neighborhood, check out 9725 Kinloss Mews, just listed for $610,000.  You can call me for a tour if you don’t have your own buyer’s agent.

The next Braemar Property Value Report will be out in July.  Until then, if you have been considering the sale of your Braemar home, give me a call.  I can get the job done safely and for maximum profit.  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: November-December 2019 (Heritage Series)

Braemar Property Value Report: November-December 2019 (Heritage Series)

We are well into first month of the New Year and that, to this Top Braemar Listing Agent, means it is time for another Braemar Property Value Report.  This particular edition focuses on sales of Heritage Series homes in our neighborhood between the months of November and December 2019.  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.

Let’s dive right in.  During the last two months of the previous year, there were three Heritage homes that sold.  Their final sold prices ranged from $425,000 to $524,900.  The details of those sales are listed below.

 

 

 

Taking these three sales and combining them with the full twelve months of sales from 2019, our six and twelve month data points are updated.  Those are listed below.

Looking at the sold price column first, both the six month average and six month median sold prices are above their respective twelve month values.  This means that the most recent six months of sales had Braemar Heritage home values continuing to push up in value.  What concerns me a bit is that the two of three most recent sales from November and December are well below all of these average and median values.  We’ll see what is revealed in our next report.

Next up in seller subsidy (closing cost assistance to buyers,) we see that both the six month average and median values are above their respective twelve month values.  This means that buyers have been asking for, and receiving, more closing cost help from sellers.  Even still, the six month average seller subsidy was still  low considering a buyer could ask for 3% of the sales price, or in some cases, more.

Finally, the days on market numbers are also higher in the six month average and median values compared to the respective twelve month values.  This means it’s been been taking a bit longer, on average, to get Heritage homes under contract.

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect it to be under contract in about two weeks.  You could also expect to pay an average of about 1% of the sales price, or less, in closing cost help.

The next Braemar Property Value Report will be out in March.  Until then, if you think the spring 2020 market is when you would like to sell, the time to get started is now.  Real estate spring happens a lot sooner than Mother Nature’s spring.  Give me a call and let’s about about pricing, timing and marketing.  Getting top dollar for your Braemar home is what I do best.  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: July-August 2019 (NV Homes)

Braemar Property Value Report: July-August 2019 (NV Homes)

This fall weather feels delightful.  Soon, we’ll see the brilliant oranges, reds and yellows as the leaves turn.  In the meantime, I have another Braemar Property Value Report to share with Braemar home owners.  This one focuses on homes built by NV Homes in our neighborhood and covers sales from the previous two months.

There were two NV Homes that sold between the beginning of July and end of August.  The details of those sales are listed below.

Taking these two sales and combining them with the entire last twelve months of NV Homes sales we get updated six and twelve month data points.  These will give an idea of trends in our NV Homes values.

Starting with the sold price values, we see that both the six month average and median sold prices are above their twelve month average and median counterparts.  It’s only by about $3,000 in each category, but an increase nonetheless.  This means NV Home values in Braemar are still inching up.

Seller subsidy, also known as closing cost assistance from sellers to buyers, does not reveal a good trend for would be NV Home sellers in Braemar.  Both the six month average and median seller subsidy values have increased from their twelve month respective values.  This means that buyers of NV Homes have been asking for, and receiving, higher amounts of closing cost help in the more recent sales.

Days on market, or marketing time as I like to call it, does have a slightly encouraging trend that favors sellers.  The six month average and median marketing times are both below the twelve month average and median marketing times.  Buyer demand and lack of inventory is lending itself to much quicker marketing times.

If you placed your NV Home on the market, priced to current values, you could expect to be under contract in about two weeks.  You could also expect to pay about 2% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in November.  Until then, if you worry that you may have missed the action of this spring’s and summer’s market, give me a call and I’ll share the surprises found in the year end market.  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

Just Sold: Another Braemar Home Above List Price by Chris Ann Cleland

Just Sold:  Another Braemar Home Above List Price by Chris Ann Cleland

It all began about two years go.  Yep.  Two years ago.  That’s when the seller of this Waverly model in Braemar, located at 10024 Naughton Court, first reached out for me to give her an idea of what she would need to do to get her house ready for market.  She knew that there was a lot of updating that needed to be done and knew that she wouldn’t be able to do it over the course of a few months.  So we met and talked about what buyers expect when they are buying a home in Braemar.  Updated kitchens, new carpet, fresh paint and sometimes updated bathrooms.  Wanting the top of the market, the seller got to work over those two years.

The kitchen was remodeled with granite counters, a gorgeous tile back splash and stainless steel appliances.  The white cabinets were also given updates to make them fresh again.  The basement flooring was replaced with luxury vinyl plank.  The master bathroom got a fresh face of ceramic tile and new fixtures.  And windows and doors in need of replacement were taken care of.  Even the exterior light fixtures were changed from the worn out brass to an oiled bronze.   The result was definitely a crowd pleaser.

Ideally the seller wanted to move in June, so her thought process was to list in late May and accommodate that.  We talked about the current state of the market in early 2019 and I counseled her that April was a better choice if she could do it.  Buyers were knocking themselves out to get Braemar homes, offering longer settlement dates and rent backs.  No real estate agent has a crystal ball, but who knew what would happen as we got closer to school being out and summer.  Past years indicated we could expect more homes flooding to market and longer marketing times as buyers were more interested in summer vacations.  So the seller listened to her experienced Braemar Listing Agent and put the home on the market April 13th.  Sure enough, within one day she had two offers both above her list price of $529,000 and both accommodating her desired settlement date in mid June.

On June 17th, this Waverly model in Braemar sold for $536,000.  The seller had to give no closing cost assistance and had a smooth transaction from start to finish with her buyers.  The only real kerfuffle in the deal was done at the hands of the Braemar covenants inspector.  Having the ear of our portfolio and general managers on-site, I was able to remediate one of the issues with a simple phone call.  A little common sense goes a long way.

When the time to sell your Braemar home is looming on the horizon, don’t think you are asking too much to meet with your listing agent well in advance.  The best agents in the business understand that it is never too early to get professional advice on updating your home.  And my knowledge of our neighborhood real estate market is a skill I hone daily.  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: March-April 2019 (NV Homes)

Braemar Property Value Report: March-April 2019 (NV Homes)

As I type this on the gorgeous Saturday of Memorial Day Weekend, I can close my eyes and picture the giggles and splashing happening at the Braemar pools.  Summer is here, even if it isn’t official on the calendar.

Right now, it is time for another Braemar Property Value Report featuring sales of NV Homes in our neighborhood during the months of March and April.  As it turns out, there were only two NV Homes that sold during that time frame.  Final sold prices were $539,900 and $582,000.  The details of those sales are listed below:

Taking these two NV Homes sales and combining them with the previous twelve months of NV Homes sales, the six and twelve month data points are updated as follows:

Starting with sold prices, we see the six month average and median values are the same, and both significantly above their respective twelve month values.  This mean NV Homes are gaining value.

Seller subsidy, also known as closing cost assistance from seller to buyer, is an area not so seller friendly.  Both the six month average and median seller subsidy values are significantly above their twelve month counterparts.  Unfortunately, this means on average, NV Homes sellers are giving more in closing cost help to their buyers in recent history.

Days on market is going to be unreliable until we get to the reports coming out in January.  Our new MLS, which we switched to in November last year, stops counting days on market when contingencies are removed if sellers are still willing to accept showings in pursuit of back up offers.  Therefore, it is not surprising to sell the six month days on market numbers nearly double the twelve month days on market.  Not to worry. When the time comes to sell, when I am looking at comps, I hand calculate how long it has been taking comparable homes to go under contract.  One day our MLS will understand that is the only number sellers care about.

If you placed your NV Home on the market, priced to current conditions, you could reasonably expect to be under contract and well on your way to settlement in a little less than two months.  You could also expect to give about 2% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in July.  Until then, when the time to sell your home is on the horizon, reach out and let’s start talking.  My unparalleled knowledge of the neighborhood and marketing expertise is the perfect combination to get you the absolute most for your Braemar home.  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: January-February 2019 (Heritage Series)

Braemar Property Value Report: January-February 2019 (Heritage Series)

Anticipation and excitement of the spring season on my part is usually hampered by the allergic reaction to pollinating trees, shrubs and flowers popping up in Bristow.  It’s an easy enough problem to solve with some Zyrtec.  As a Top Braemar Listing Agent, this is the time of year when more than just flowers are blooming.  So are listings, which will be a relief for buyers looking for homes in Braemar.

This edition of the Braemar Property Value Report focuses 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.  The homes built by Coscan in Braemar North Gate are also included in this group, as they are similar in size.

During the first two months of the year, there were two Heritage homes that sold.  Final sold prices for these two Yardleys could not be more different.

The sale for $414,000 was a bank owned home, having been to foreclosure.  The market didn’t care for the property at the list price of $449,900.  The other sale at $485,000 was a recently renovated Yardley that, as you will see, sold $10,000 above it’s asking price.

Taking these two sales together with the previous year’s worth of Heritage home sales, the updated six and twelve month value points give us a sense of current market conditions.

Both the six month average and median sold prices are below the twelve month average and median sold prices.  This indicates a softening of values in the Heritage Series.  We’ll have to wait and see what next report tells us.  The demand for these homes is incredible.

When it comes to seller subsidy, there’s a clear trend when you see the six month average and median values higher than the twelve month values.  That means buyers are requesting and getting higher amounts of closing cost help from sellers.

Days on market (marketing time) is a slightly longer in the six month values compared to their twelve month counterparts.  However, due to the change to a new MLS system in November that calculates this value differently, we won’t have apples to apples comparisons until we have an entire year’s worth of data under the new system.

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement in a little over two to three weeks.  You could also expect to pay about 1.5% of the sales price in closing cost assistance to your buyer.

The next Braemar Property Value Report will be out in late May.  Until then, when the time comes to sell your Braemar home, give me a call for your specific home’s value in the current marketplace.  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: November-December 2018 (Heritage Series)

Braemar Property Value Report: November-December 2018 (Heritage Series)

As I look at the calendar, I can’t believe it is almost the end of January.  Time marches by quickly.  Thank goodness I still have time before the end of the month to get out my Braemar Property Value Reports.  It is always my goal to have them published online before the end of odd numbered months.

This particular Braemar Property Value Report focuses on sales of Heritage Series homes in our neighborhood during November and December 2018.  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.

During the last two months of 2018, there were two Heritage homes that sold in Braemar.  The details of those sales are listed below.

Taking these two sales, along with all the Heritage home sales in 2018, the six and twelve month data points we follow in this report are updated as follows:

Starting with the sold prices, we see that both the six month average and median sold prices are above their twelve month counterparts.  That means values of Braemar Heritage homes are still inching upwards.

Seller subsidy (closing cost assistance to buyers) gives a bit of conflicting information.  The six month average seller subsidy is higher than the twelve month average seller subsidy.  That would indicate Braemar Heritage home sellers are giving more closing cost help recently.  However, the six and twelve month median seller subsidy values are identical.  Let’s call this one stable for now.

When it comes to days on market, we also have conflicting trends.  The six month average is certainly a shorter time frame from the twelve month average marketing time.  However, the six month median marketing time is longer than the twelve month marketing time.  In all honesty, it is going to be one full year before we have reliable data in this category and that’s because our region switched to a new MLS system in November which calculates days on market differently.

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

The next Braemar Property Value Report will be out in late March.  If you would like to receive a digital copy of the actual report, which is much like a financial statement of your home’s value, send me an email at ChrisAnn@LNF.com.  Of course, when it is getting time to sell your Braemar home, give me a call for a free market analysis.  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

www.UncompromisingValues.com

 

 

 

Braemar Property Value Report: November-December 2018 (Arista Series)

Braemar Property Value Report: November-December 2018 (Arista Series)

You know it’s cold outside when you are layering your clothing while you are in your home office.  What can I say?  I love my Braemar Arista Series home, but Brookfield Homes certainly skimped on insulating the rooms over the garage in my model.  If you live in any home long enough, you find the flaws.   There is no such thing as the perfect home.  You learn that quickly as a Bristow Real Estate Agent.

This post isn’t about the quest for a perfect home, it’s about telling Braemar Arista home owners the current market values.  Of course, if you aren’t sure if you are a Braemar Arista home owner, the Arista Series floor plan include the Allister, Buckingham and Canterbury.  Still not sure if this is for you.  If you email me your address, I can certainly tell what model you have, and what report is meant for you.

There were two Braemar Arista homes that sold in the last two months of 2018.  There were both Canterbury floor plans.  The details of each sale are listed below:

Taking these two most recent Arista home sales and update our rolling twelve months worth of sales and updating the six and twelve month value points, a read on the market emerges.

Let’s start with the most important column to Arista home owners–sold price.  The six month average and median sold prices are both below the twelve month average and median sold prices.  This is not great news.  It is indicative of a slight decline in Arista home values.

When it comes to seller subsidy (closing cost assistance to buyers,) it the six and twelve month median are exactly the same.  In better news, the six month average seller subsidy is less than the twelve month average seller subsidy.  It seems that while prices are lower, at least closing cost help given did not also go up.

Finally, we come to days on market.  The six and twelve month median are the same.  Good news in this column is that the six month average marketing time is faster than the twelve month average marketing time.  I don’t expect this trend to stay the same.  In mid-November, our region switched to a new MLS system that calculates DOM differently.  The most recent sales listed here were likely unaffected by that new algorithm  But in the coming reports this year, don’t be shocked if DOM goes up.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect to be under contract in about ten weeks.  You could also expect to give a little less than 1% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in late March.  These reports will continue to be published on SellingBraemar.com and shared on my Braemar Facebook Page.  However, if you want electronic copies emailed to you, that you can print out and save like a financial statement, send me an email at ChrisAnn@LNF.com.

Until next time, if you want to know what your specific Braemar home is worth, contact me for a free market analysis.  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