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

 

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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

 

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

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

It’s about that time again.  Time to bring you up to speed with our Braemar real estate market, more specifically, what’s happening with the Arista Series homes in our neighborhood.  Arista Series homes are the large, single family homes built by Brookfield Homes.  Floor plans include the Allister, Buckingham and Canterbury.

When I pictured what mid-March would be like in Braemar, I didn’t picture gray winter skies, harsh winds and cold temps.  I also didn’t picture a contracted real estate market with still so little for buyers to choose from.  In all of Braemar, as I type this right now, there are only seven active listings for sale.  Homes are going off the market nearly as quickly as they are coming on.  Buyer demand is still high, but don’t let that fool you.  Buyers are still passing up overpriced listings.  Buyers want move in ready.  Carpet and paint done.  No projects.

For about half a year now, there’s been an Arista Series home lingering on the market.  With nothing else to choose from, buyers have passed it over time and again.  Other large homes that come on the market get gobbled up nearly immediately. Price and condition make a difference, even in a seller’s market.  So while there is at least one Arista Series home for sale, there are no sales to report for the months of January and February.  However, we can glean some information on what the market trend is by dropping our January and February sales from 2017 and taking a look at our six and twelve month value markers again.

Right now,  the six month average and median sold prices are slightly below the twelve month average and median sold prices.  This could be an early indicator that prices could be near peak in these large Braemar single family homes.  Or, it could be a sign that the market is cooling off to this big homes.  Only time is going to tell.

If you were to place your Braemar Arista Series home on the market, priced to current conditions, you could expect it to be under contract in about a month and a half.  You could also expect to pay out at least $5,000 in closing cost help to a buyer. Marketing time and seller subsidy have been fairly consistent over the last year.

The next Braemar Property Value Report will be out in May.  By then, we may have some new sales to report in the Arista Series. Until then, when you are ready 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

 

Braemar Property Value Report: September-October 2017 (Heritage Series)

Braemar Property Value Report: September-October 2017 (Heritage Series)

Welcome to another edition of the Braemar Property Value Report.  This one details sales of homes in the Heritage Series during the months of September and October.  Before we get started, let’s specify what defines a Braemar Heritage Series 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 (a.k.a. Zurich) & Waverly.  

There was quite a bit of sales activity during the last two months in the Heritage Series.  Here are the details of those sales.

You may notice that one of those sales is highlighted in purple.  That is a home I listed and sold.  It was the highest sold price of the reporting period.  Also the lowest marketing time at two days on the market.

When we freshen up our rolling six and twelve month average and median values, here’s what we find:

The six month average and median sold prices are higher than their twelve month counterparts.  That means Heritage home values are still pushing up.  Unfortunately, seller subsidy (closing cost help) is a little higher too in the short term.  Marketing time is stable short term compared to long term.

If you placed  your Braemar Heritage home on the market, priced to current conditions, you could expect it to be under contract in two to three weeks, maybe a tad longer.  (My two most recent Braemar Heritage home listings went under contract in eleven and nineteen days.)  You could also expect to pay about $5,000 in seller subsidy.

The next Braemar Property Value Report will be out in the New Year.  Until then, if you find yourself needing to list your property now, don’t panic.  Call me!  I work year round and LOVE the off spring market.  And 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 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 (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