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

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

Another gorgeous fall day is upon us and I couldn’t be happier.  Today is property photo shoot day for a remodeled townhouse listing I have coming up.  And hopefully, tomorrow will be just as lovely for photos of an upcoming Braemar Piggyback townhouse that will also be hitting the market at the end of the week.

Before I head out for the days work errands, I figured I had time to get this Braemar Property Value Report out to you.  This particular report focuses on sales of single family homes built by Ryan Homes between July and August.  Let’s get right to it.

There were four Ryan Homes in Braemar that sold in our current reporting period.  I am so happy to have had one of those sales with sellers that listened to every bit of listing prep and reaped the rewards.  That sale highlighted below in pink.  For an older home with no exit in the basement, they got a great price and before they ever hit the market.  Here’s a list of all the Ryan Home sales during July and August.

Taking these four sales and combining them with the previous twelve months of Ryan Home sales, we get updated six and twelve month data points.  They are listed below:

Starting with the sold price category, we see that the six month average sold price is much higher than the twelve month average sold price.  When it comes to comparing the six month median to the twelve month median sold price, we still see an increase in value in the short term, but not as drastic as the average.  Either way, Ryan Homes are still increasing in value.

Unfortunately, another place where we see an increase is in seller subsidy, also known as closing cost help to buyers.  The six month average is a bit higher than the twelve month average seller subsidy.  However, the six month median seller subsidy is substantially higher than the twelve month median.  Buyers are requesting, and receiving more closing cost help in more recent sales.  My sellers at Hopper Lane were very fortunate to only have to give $200 as a repair credit.

Marketing time shows a trend sellers will love.  Both the six month average and median marketing times are below their respective twelve month counterparts.  This means Ryan Homes in Braemar are selling faster than they have been.

The next Braemar Property Value Report will be out in November.  Until then, if you fear you may have missed the top of the market this past spring with all the talk of recession, give me a call and let’s talk about what’s happening in our Braemar real estate 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

 

 

Braemar Property Value Report: July-August 2019 (Heritage Series)

Braemar Property Value Report: July-August 2019 (Heritage Series)

What’s not to love about a gorgeous fall afternoon?  At least I got to enjoy a bit of it before landing at my desk and typing up the latest Braemar Property Value Report.  This report focuses on the sales activity from July to August 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.

There were two Braemar Heritage homes on that sold in the last two months.  Those sales are detailed below:

While most of my business is listing homes, there is about 25% of that comes from representing buyers.  The reason the sale on Noltland Castle is highlighted in blue is that I represented the buyer on that sale.  Listings that I sell that end up in this report are highlighted in pink.  I was delighted to get such a great deal on Noltland Castle for my buyers.  I had just sold a Waverly on Naughton Court for $536,000, which was better in the kitchen, but less in that it had one less full bathroom and it did not have an exit from the basement.  So if you ask me, my buyers got a great deal.  It certainly pays to have me on the listing side.

Taking these two sales and putting them with the last twelve months of Braemar Heritage home sales, we get updated six and twelve month data points.  Here’s what they are right now:

Looking first at sold prices, we see both the six month average and median sold prices are above their respective twelve month sold prices.  This means values of Heritage homes in Braemar is still inching up.  For how much longer?  I wish I had that crystal ball, but agents in the market can feel a shift coming.

Seller subsidy (a.k.a. closing cost help to buyers) is unchanged in the six month median compared to the twelve month median at zero.  Meanwhile, the six month average seller subsidy fell 10% below the twelve month average seller subsidy.  Buyers have been requesting less closing cost help to get under contract in the seller’s market we have been experiencing.

Days on market, or marketing time as I like to call it, shows a decrease in the six month values compared to their twelve month counterparts.  This means that Braemar Heritage homes have been selling even faster.

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect it to be under contract in about a week.  You could also expect to pay an average of about 1/2% of the sales price in closing cost help to your buyer.

The next Braemar Property Value Report will be out in November.  Until then, if you are concerned about the talk you are hearing of impending recession, but were thinking of selling, call me to find out why the fall market is strong choice.  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: May-June 2019 (Heritage Series)

Braemar Property Value Report: May-June 2019 (Heritage Series)

10024 Naughton Court in Bristow went under contract in 1 Day.

What’s a Top Braemar Real Estate Agent do on the weekend when they aren’t showing property on Saturday?  Research the market and put out another Braemar Property Value Report of course!  This particular edition focuses on sales of Heritage Series homes in Braemar between May and June. 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.

There were nine Heritage homes that sold in Braemar between May and June.  Exactly the same number of Heritage homes that sold in our last report, by the way.  Sold prices ranged from $425,000 to $539,000.  Details of those sales are listed below.

You may immediately notice that the last sale is highlighted in pink.  That is because that was a home that I listed and sold.  It was great to be able to help the seller of 10024 Naughton Court get multiple offers and sell above list price.  Selling Braemar homes for top dollar is my specialty.

Taking these nine sales from May and June and combining them with the entirety of the last twelve months of Heritage home sales, we get updated six and twelve month data points.  Here’s what they look like now:

Let’s start with a quick look at sold prices.  The six month average sold price is higher than the twelve month average sold price.  Meanwhile, the six month median sold price is exactly the same as the twelve month median sold price.  The former indicates rising values.  The latter indicates stability.  Either way, home values aren’t falling.  We’ll just wait to see if there is a more definite trend next report.

In the category of seller subsidy, a.k.a. closing cost help to buyers, there is a definite trend and it favors sellers.  The six month average seller subsidy is lower than the twelve month average seller subsidy.  While the six and twelve month median values are the same, they are holding at zero closing cost help.  In this market of high demand and low inventory, buyers are having to forego large closing cost requests to win in multiple offer situations.

When it comes to days on market, we have not yet gotten to the point of having twelve solid months of marketing time data from our new MLS.  It won’t be until January 2020 that we do.  So for now, any trend here is unreliable.  That said, this report shows that the average days on market is unchanged from the twelve month value to the six month value.  Meanwhile, the six month median days on market is shorter than the twelve month median days on market.

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 within a week or two and a half.  As for closing cost help, if you had to give any, it would likely be minimal.

The next Braemar Property Value Report will be out in September.  Until then, when you are ready to investigate the sale of your Braemar home, give me a call.  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 Reflection Quarterly: April-June 2019 (2nd Quarter)

Braemar Reflection Quarterly: April-June 2019 (2nd Quarter)

9684 Tarvie Circle sold for $444,000 on May 31, 2019.

Before my open house at 12849 Rannoch Forest this afternoon, this dedicated Braemar Real Estate Agent has put together the last of my quarterly property value reports.  Today you will learn what happened in the second quarter of 2019 in the world of Braemar Reflection Series homes.  If you aren’t familiar with what a Braemar Reflection home is, they are the semi-detached single family homes located off Tarvie Circle.  They are attached only at the rear load garage to one neighboring property.

Between April and June, there were two sales of Braemar Reflection homes.  I am very pleased to have listed and sold, for the second time, 9684 Tarvie Circle.  Because it was my listing, it is highlighted in pink in the detailed list below.

While my listing was not the highest sold price, for what it offered it sold for a very good price.  The high sold price of $492,500 included four finished levels.  My listing had two finished levels.  It also went under contract in less than a week.

Taking these two most recent sales and combining them with the entire twelve months worth of Reflection Series sales, our six and twelve month data points are updated as follows:

While the median sold price is unchanged from the twelve month value to the six month value, the average sold price has increased in the six month value compared to the twelve month value.  That means that these semi-detached homes in Braemar are still pushing up in value.  It may not be by leaps and bounds, but an increase is an increase.

A bigger change in the short term, compared to the long term, is a decrease in seller subsidy (closing cost assistance to buyers.)  The six month average and median seller subsidy values are both below their twelve month counterparts.  Being out in the Braemar real estate market helping buyers and sellers day in and day out, it is no surprise given the lack of inventory and high buyer demand, that buyers are having to temper their requests for closing cost help.  In the case of 9684 Tarvie, my sellers were able to offset the cost of that seller subsidy by increasing their sales price.  Not an unusual strategy when a buyer must have the closing cost help.

As you may recall, days on the market has undergone a change in how it is reported in our new MLS, which was adopted by the market in November.  Until we have a year’s worth of the new data, which will be the first report of 2020, these numbers are unreliable.  As presented, the increase of the six month days on market numbers compared to their twelve month counterparts, indicates that it is taking longer to sell a semi-detached home in Braemar.  That is simply not what I am experiencing.  It will be wonderful if our MLS would adopt the same stopping point for counting marketing time that our previous one did.  I won’t hold my breath.

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

The next Braemar Reflection Quarterly will be out in October.  Until then, when the sale of your Braemar semi-detached home is on the horizon, give me a call.  You only get one shot to maximize the profit from the sale of your home.  Since 2005, No One Knows 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 (Heritage Series)

Braemar Property Value Report: March-April 2019 (Heritage Series)

12146 Millbill Court sold for $499,800 on April 16th, 2019.

Graduation time is approaching and I know several families with seniors at Patriot High School that are excited to see this time come for their kids.  Of course, the excitement is tempered with a bit of sadness.  Time flies and when something like a graduation marks exactly how much time has gone by, it can give you pause.  Take time to enjoy the moments and celebrate safely.

Speaking of time, enough has passed to present you with another Braemar Property Value Report.   The various editions of the Braemar Property Value Report come out every two months and tracks sales of particular home types in our neighborhood, tracking values along the way.  This report focuses on sales of Braemar Heritage Series homes.   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.

Tied with Braemar townhouses for the most sales in the months of March and April, Heritage homes saw nine sales in our current reporting period.  That’s a lot of sales activity!  The sales are detailed below.

The sales ranged in final sold price from $442,000 to $550,000.  I was pleased to sell 12146 Millbill Court, highlighted in pinkish-purple above.  It is the oldest home on the list and sold above list price, with multiple offers, for the highest price of any of those built in the 1990’s.  And despite the marketing time listed above, it was under contract in two days.  It took twenty-two days to remove the contingencies.  That means our new MLS is still reporting marketing time in a manner in-congruent with what we had been used to, making marketing time above unreliable.

Taking these sales and combining them with the entire past twelve months of Heritage home sales, we get new six and twelve month data points.   Those figures are listed below.

Starting with sold price, it is fantastic to see both the six month average and median sold prices above their twelve month counterparts.  This means values of Braemar Heritage homes are still increasing.

When it comes to seller subsidy, also known as closing cost assistance sellers give buyers, the six month average is below the twelve month average, while both the six and twelve month median values are zero.  In the seller’s market, many buyers have been having to forego closing cost help, or settle for lower amounts, to win out in multiple offer situations.  More good news for Braemar Heritage home owners.

Marketing time, as mentioned above when discussing the sale of 12146 Millbill Court, is a number that is not counted the same as it used to be in our old MLS.  Previously, as soon as a home went under contract, no matter variety of contract status was published, the days on market counter stopped in our old MLS. However, in November, we switched to an MLS that only stops the days on market counter if you choose the contract status indicating there are no contingencies in the contract.  It’s a mess.  So when I see that marketing time has increased in both the six month values compared to their twelve month counterparts, I am not at all panicked.  Braemar Heritage homes are going under contract fast!

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 closing in fifteen to twenty days.  You could also expect to pay 1/2% of the sales price in closing cost help, if any at all, to your buyer.

The next Braemar Property Value Report will be out in July.  Until then, rest assured that when the time comes for you to sell your Braemar home, I will hand calculate marketing times during our meeting.  I know you don’t care how long it takes to get contingencies removed, but how long it takes to make a deal with a buyer.  And my unparalleled knowledge of our neighborhood and top notch marketing, will get your home under contract for the maximum amount of money in short order.  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 (Arista Series)

Braemar Property Value Report: March-April 2019 (Arista Series)

A rainy weekend is always a great time for this Top Braemar Real Estate Agent to crunch numbers for new Braemar Property Value Reports.  The first report in the series is for the Arista Series.  Why? From the inception of this report, I have start with detached homes, alphabetical by the series.

In the event you are unfamiliar with what exactly an Arista Series home in Braemar is, they are the three largest single family homes built by Brookfield Homes in our neighborhood.  The floor plans are the Allister, Buckingham and Canterbury.  If you aren’t sure what floor plan your Braemar home is, feel free to send me an email with your address and I’ll be happy to let you know.

During the months of March and April, there were two Braemar Arista homes that sold.  The details of those sales are below:

Unfortunately, the sale at 9530 Laurencekirk was a foreclosure in rough shape.  Having personally toured it, I wondered why the bank would not even bother with a simple house cleaning.  There was filth that left your mind to imagine all kinds of horrible scenarios in the master bathroom and the kitchen.  The powder room on the main level must have had a water issue because the drywall on the lower half of the framing had been removed.  It was such a sad sight.  And honestly, I’m shocked anyone paid $463,000 for the home with the amount of work that needed to be done.

When I updated the six and twelve month data points with our newest sales in the rolling twelve months of Arista home sales, here is what I came up with:

The six month average and median sold prices are both below their twelve month counterparts. I would love to tell you that this is due to that very sad foreclosure sale, but the truth is that Arista homes haven’t had six month values above the twelve month values since our September/October 2018 report.  It seems that Arista home values have been trending down, despite the frenzy of buyer demand in our area.  Buyers are gobbling up homes under $500,000.  The larger homes are not experiencing the same conditions.

When it comes to seller subsidy (closing cost assistance to buyers,) there is good news.  It seems that buyers are getting less in seller subsidy in the six month values than we see in the twelve month values.  That’s a good trend for Braemar Arista home owners.

Days on market, is one where we see no change in the six month median to twelve month median values.  However the six month average marketing time is a little shorter than the twelve month average marketing time.

If you placed your Arista home on the market, priced to current conditions, you could expect it to be under contract in about two months.  You could also expect to give a minimal amount in closing cost help, if the current trend holds.

The next Braemar Property Value Report will be out in July.  Until then, if you want to know what your Braemar Arista home is worth in the current market, give me a call or send me an email.  Selling Braemar homes is my specialty.  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 (Ryan Homes)

Braemar Property Value Report: January-February 2019 (Ryan Homes)

Do you find yourself feeling invigorated by the spring sunshine, warmer temps and our deciduous landscape in Bristow coming back to life?  I know I do.  I’ve got even more to make your spirits soar, particularly if you own a home built by Ryan Homes in Braemar.

This edition of the Braemar Property Value Report focuses on the sales of Ryan Homes in the first two months of the year.  As it turns out, there were two Ryan Homes that sold.  Their sold prices, as you will see in the details below, are nearly $100,000 apart.  That’s what happens when you have a finished basement in a much larger home.

Taking these two most recent Ryan Home sales and combining them with the previous twelve months of data, we get new six and twelve month data points.

Let’s start by looking at the biggest concern every Braemar home seller has–price.  The six month average and median sold prices are both higher than the twelve month average and median sold prices.  This means Ryan Homes are going up in value in the most recent sales.

When it comes to seller subsidy (closing cost assistance to buyers), there isn’t a lot of change.  Buyers are still getting a little something in seller subsidy in their deals, but there are not any drastic increases happening here.

Finally, days on market does show a significant increase in marketing time, particularly when comparing the six month median days on market to the twelve month median days on market.  Don’t panic.  In November our region switched to a new MLS (multiple listing service) that stops counting days on market not when a home goes under contract, but when the contingencies in the contract are removed.  Not all that helpful when sellers want to know how long it’s going to take their homes to go under contract.  I suspect our new MLS will go back to stopping the days on market counter when a home goes under contract.  However, if they do not, we’ll need a year’s worth of data in the new system before we have an apples to apples comparison.

If you placed your Ryan Home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement within about six weeks.  You could also expect to sell out under 1% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in late May.  Until then, when the sale of your Braemar home is on the horizon, it is never to early to consult this top Braemar Listing Agent.  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