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

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

Let’s wrap up the month of October with the final report of my quarterly Braemar market reports.  This is the Braemar Reflection Quarterly.  It covers sales of the semi-attached homes located on Tarvie Circle, behind the Safeway shopping center, that are attached at the garage only.

There was quite a bit of sales activity in the third quarter, where we saw four Reflection homes sell.  The details of those sales are listed below:

All of the sales in the third quarter were homes that had no egress from the basement.  Come to think of it, I’m not sure there are any Reflection homes with basement egress.  If you have one, I’d love to hear about it and know if it was added after construction.  When we take these four sales and plug them in with the previous three quarters of sales activity, we get new six and twelve month data points, as follows:

The trend we most like to see in the sold price column is higher values in the six month average and median compared to the twelve month average and median.  While the six month average sold price is higher than the twelve month average sold price, the median sold price is exactly the same in the six and twelve month median values.  This is mixed information.  Average sold price increase in the six month over the twelve month indicates Reflection home prices are rising.  However, the same value in the six and twelve month median indicates Reflection home prices are stable.  Only time will tell which is correct.

The seller subsidy (closing cost help to buyers) is showing a definite trend.  The six month average and median seller subsidy are both higher than their twelve month counterparts.  That means sellers are giving more money in closing cost help.

Days on market (marketing time) is showing stability and a quickening of the sales of Reflection homes in Braemar.  The six month average marketing time is shorter than the twelve month average marketing time.  However, the six and twelve month median marketing times are the exact same.  Which is correct?  We have to wait for the next report to find out.

If you placed your Braemar Reflection home on the market, priced to current conditions, you could expect it to be under contract in two to three weeks.  You could also expect to pay about 2% of the sales price in closing cost help.

The next Braemar Reflection Quarterly will be out in January.  Until then, if the need to move arises, don’t count out our year end real estate market.  Give me a call for a free market analysis and I’ll tell why the year end selling season is my favorite market.  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

 

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Braemar Property Value Reports: July-August 2018 (Ryan Homes)

Braemar Property Value Reports: July-August 2018 (Ryan Homes)

If it had to be sunny any day this week, it is fantastic to have that weather on Friday.  What a nice end to the work week for folks.  Of course, the work week for this Top Braemar Real Estate Agent is far from over.  I will be out showing property to buyers this weekend in our area.

Right now, it is time for the Ryan Homes installment of the Braemar Property Value Report.  This one covers the sales of Braemar houses built by Ryan Homes in July and August.  Without further delay, let’s get to it.

There were two Ryan Homes that sold in our current reporting period.  One for $429,000 and the other for $476,000.  The particulars of each sale are detailed below:

If we take these two most recent sales and combine them with our rolling twelve months of Ryan Home sales in Braemar, we have the opportunity to take a peek at updated six and twelve month data points.  When we do that, this is what we find:

When we look at the six month average and median sold prices to the twelve month average and median sold price, we want to see increases in the six month values compared to the twelve month values.  That would indicate Ryan Home values are increasing.  Unfortunately, this report gives us exactly the opposite of what we want to see.  Six month average and median sold prices are below the twelve month sold prices.  Not good, but hopefully, not a trend we will see continue.  In Braemar in general, home prices seem to be stabilizing. However, this report could be an early indicator that Ryan Home values are dropping a bit.  We won’t know for certain until we see if this trend continues through to the end of the year.

In the seller subsidy (closing cost assistance) category, we like to see six month average and median values below their twelve month counterparts.  While the six and twelve month median seller subsidy figures are exactly the same, the six month average is below the twelve month average.  That means Ryan Home sellers are giving less closing cost assistance when selling their homes.

Finally we get to days on market, or marketing time, as I like to call it.  The six month average and median marketing times are significantly shorter than the twelve month average and median marketing times.  That means Ryan Homes in Braemar have been selling faster recently.

If you placed your Ryan Home on the market, priced to current conditions, you could reasonably expect it to be under contract in about two and a half weeks…maybe even just one week.  You could also expect to give about one half of one percent of the sales price, or less, in closing cost help to your buyer at settlement.

The next Braemar Property Value Report will be out in November.  Until then, when you want to investigate the sale of your Braemar home and what it would be worth in the current market, call 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

 

Braemar Property Value Report: July-August 2018 (NV Homes)

Braemar Property Value Report: July-August 2018 (NV Homes)

Did you know that as of today, there are twenty-one homes on the market in Braemar? They aren’t all single family homes, like the NV Homes in our neighborhood.  In fact, single family homes priced over $450,000 in Braemar make up ten of those listings.  And it is taking a while to get them under contract.  A quick look at those ten single family home listings in Braeamr over $450,000 tells me that they are averaging thirty-four days on the market….and they haven’t even been chosen yet!    One of the many reasons it is important to hire a Top Braemar Listing Agent.

Right now, this Top Braemar Listing Agent is going to update you as to what’s happened with NV Home resales in our neighborhood between July and August in this edition of the Braemar Property Value Report.  I have made it part of my job to stay on top of our local market.  I don’t know of any other real estate agent that serves Braemar that delves this deep into what’s happening in our neighborhood.

There was only one NV Home in Braemar that sold in during our current reporting period.  It was a Rutherford that sold for $485,000, having been listed for $500,000.  Details of that sale are below:

Not much can be determined by NV Home values by one sale.  That’s why this sale is added to my rolling twelve month store of NV Home sales in Braemar, and six and twelve month values pulled out.  When I do that, here’s what we find:

The trend you want to see in the sold price numbers is higher values in the six month average and median compared to their twelve month counterparts.  That is definitely what we find with NV Home values in the six month values compared to the twelve month values.  That means NV Homes are still pushing up in value.

When it comes to the seller subsidy (closing cost assistance) category, we want to see the opposite.  The best trend for sellers here is to have lower figures in the six month values when compared to the twelve month.  Once again, Braemar NV Home sellers in the last six months have been given less closing cost assistance to their buyers.  Gotta love that.

Days on market, or marketing time, is another category where we like to see more recent numbers trending down, compared to the whole year.  While the six month median value is two days longer than the twelve month median, the six month average value is thirty-one days shorter than the twelve month average.  That big a decrease in average marketing time is a great thing to see.  The two day increase in median value?  Not to worry.

If you placed your Braemar NV Home on the market, priced to current conditions, this report indicates  you could expect it to be under contract in two weeks.   However, at the start of this report, you heard the average days on the market for larger single family homes was thirty-four days for home still lingering on the market.  Who you hire to market your home matters and can affect marketing time and your final sold price.  As for what you could expect to pay in closing cost help, that would be an average of less than 1% of the sales price.

The next Braemar Property Value Report will be out in November.  Until then, when you are ready to sell your Braemar home, hire wisely.  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: July-August 2018 (Arista Series)

Braemar Property Value Report: July-August 2018 (Arista Series)

It always makes me smile to see the leaves start to change into their brilliant fall wardrobe. The trees on the east side of Native Rocks Drive are always among the first to start going from green to gold.  Of course, I have no idea what kind of trees those are because my specialty is not landscaping, but selling homes.  As a top Braemar Real Estate Agent, it is one of my favorite jobs to periodically look at the most recent sales data and share it with you.

This particular Braemar Property Value Report covers sales of Arista Series homes in Braemar.  Those are the largest homes built by Brookfield Homes and include the Allister, Buckingham and Canterbury floor plans.

Between the months of July and August, only one Braemar Arista home sold.  It was a four level Canterbury with five bedrooms and five and a half bathrooms.  It listed and sold for $599,900 and took only twenty-one days to sell.  Details of the sale are listed below:

To get an updated account of how Arista homes in Braemar are doing overall, we take this sale and put into a rolling twelve month collection of previous Arista home sales.  Then we parse that data out into six and twelve month markers.  When we do that, here’s what we find:

What we want to see in a six month to twelve month comparison in values is increased sold prices in the six month values, and lower seller subsidy (closing cost assistance) and days on market (marketing time) in those six month values compared to the twelve month values.

Looking at sold prices for the Arista Series, the six month average and median sold prices are both above the twelve month average and median sold prices.  That’s great news.  Values for Arista homes are continuing to rise.  However, the seller subsidy figures are higher in the six month average and median, compared to the twelve month average and median.  That means sellers are giving more of their net proceeds to buyers as closing cost help.  As for the marketing time, those numbers give us a mixed picture.  The six month average days on market is higher than the twelve month average days on market, but only by five days.  The six month median is twelve days shorter than the twelve month median.  All in all, those variations show that it is taking about the same amount of time as it has been taking, to sell Braemar Arista homes.

If you placed  your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contract in three weeks to two and a half months.  You could also expect to spend 1.5% to 2% of the sales price in closing cost assistance to the buyer.

The next Braemar Property Value Report will be out in November.  Until then,know that you  can’t start to preparing to sell too early. When you are starting the thought process of moving, give me a call.  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: May-June 2018 (Ryan Homes)

Braemar Property Value Report: May-June 2018 (Ryan Homes)

It may not have felt like all that bad of a thunderstorm, but the storm we had around 2pm today in Bristow knocked a big tree down off of Tartan Hills Parkway in Braemar.  Thankfully, the tree isn’t blocking the road, but it is blocking the path on the Broadsword Drive side of Tartan Hills Parkway.  I was on my way to re-stage a listing that just came back on the market when I saw that downed tree.  Turns out our neighborhood is great at keeping our on-site managers informed.  I called as soon as I drove past the tree, but the staff was already aware and had phoned it in to BrightView.

Right now, it is time for another Braemar Property Value Report.  This one focuses on single family dwellings built by Ryan Homes in our neighborhood.  And while there were no sales of Ryan Homes to report in May and June we still have updated data from the past year to review.

There is some contradictory sold price data when we compare the six month sold prices to the twelve month sold prices.  Increase in six month over twelve month sold prices means values are going up.  Decreases in six month compared to twelve month sold prices means values are slipping.  Well, the six month average sold price is higher than the twelve month average, but the six month median is lower than the twelve month median.  Since neither marks a huge change in either direction, this is a sign of stability in sold prices of Ryan Homes.

The seller subsidy in the six month values is a good chunk below the seller subsidy in the twelve month values.  This means sellers of Ryan Homes have not been giving their buyers as much in closing cost help.  Another good trend is that days on market is down in the six month values compared to the twelve month values.  This means it is taking less time to sell Ryan Homes in Braemar.

If you placed your Ryan Home on the market, priced to current conditions, you could expect it to be under contract in a month.  You could also expect to pay less than 1% of the sales price in closing cost assistance.

The next Braemar Property Value Report will be out in September.  Until then, if you want to know how the most recent sales activity in Braemar is affecting your home’s values, 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 Property Value Report: January-February 2018 (NV Homes)

Braemar Property Value Report: January-February 2018 (NV Homes)

It is the second day of spring and the residents of Braemar are experiencing a snow day.  Seems nuts, but it happens.  I’m a lifelong resident of Northern Virginia. March snow storms are not completely out of the ordinary.  They don’t happen every year, but every five or eight years, you get hit with one.

For a top producing Braemar Real Estate Agent, a snow day is a great time to put together another Braemar Property Value Report.  Today’s “snow day” report focuses on homes built by NV Homes in Braemar.

Unfortunately, for the first two months of the year, there were no NV Homes that sold.  However, that doesn’t mean we can’t get a look at what the updated six and twelve month values tell us.

When we look at the six month median and average sold price values, we find that they are lower than the twelve month median and average sold values.  That’s not great news.  Then again, we are really going on only two months of home sales making up the six month values.  Those were in November and December.  We can’t truly determine a pattern until we consistently have more information.

What we can determine from those six month values is that if you placed your NV Home on the market, priced to current conditions, you could expect it to be under contract in a week or so.  It might take a tad longer, but I doubt it would take the 109 days showing in the six month average. That number is skewed by an NV Home that lingered due to poor marketing and too high a price.  You could also expect to pay about 1.5% of the sales price in closing cost to the the buyer (seller subsidy.)

The next Braemar Property Value Report will be out in May.  Until then, when you are ready to sell your NV Home, give me a call.  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: January-February 2018 (Courtyard Series)

Braemar Property Value Report: January-February 2018 (Courtyard Series)

What’s a top Braemar Real Estate Agent do on St. Patrick’s Day?  Prepare another Braemar Property Value Report of course!  Keeping Braemar home owners up to date on property values is what I do…that is, when I am not selling Braemar homes.  Tracking Braemar property values is important and it affects me too as a Braemar home owner.

This particular Braemar Property Value Report focuses on the sales of Courtyard homes in the neighborhood in January and February.  If you don’t know, Courtyard homes are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Clarendon and Ballston.

There were three Braemar Courtyard homes that sold during the first two months of the year.  The details of those sales is listed below.  And if you are wondering why the first sale is highlighted in pink, that is because it was my listing.  It also happened to be the very first sale of the 2018 in Braemar.

Final sold prices of the three sales ranged from $409,900 to $415,000.  I’m very pleased that my listing garnered the highest sold price for this report, lowest marketing time (DOM) and lowest closing cost help (seller subsidy.)

When we put these sales into our rolling six and twelve month values, what we find is that the Braemar Courtyard home market is inching forward.  The increases in average and median sold prices in the six month values compared to the twelve month values are minor, but they are upward activity nonetheless.  Unfortunately, closing cost help and marketing time are increasing as well, and by larger margins.

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 over a month.  You could also expect to pay 2%-3% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in May.  Until then, if you are looking for the highest possible sales price for 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®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com