Braemar Property Value Report: July-August 2020 (Ryan Homes)

Braemar Property Value Report: July-August 2020 (Ryan Homes)

The month of September is slipping by fast and I am in the home stretch of putting out all my most recent Braemar Property Value Reports.  My internal deadline is to have them out by the end of the odd numbered months.  Tick tock.  Today’s report focuses on sales of houses built by Ryan Homes in our neighborhood and like the rest of the reports put out this month that preceded it, details sales in the months of July and August.  Let’s get right to it.

There were only two Ryan homes that sold during our current reporting period.  There’s a fairly big difference in their final sold prices.  See for yourself.

The difference in sold prices here goes beyond an additional bedroom on Gentle Shade.  I listed 12833 Gentle Shade the last time it sold.  The home was in good shape, but in need of updating.  Boy, did the new owners take care of that.  That home was updated from head to toe and the basement even finished.  Ballagan, while a nice looking home in good condition, still had basic finishes.

Taking these two sales and combining them with the entire previous twelve months of Ryan home sales in Braemar, our six and twelve month data points are updated as found below:

Starting with the sold price column, we see very healthy increases when comparing the six month average sold price to the twelve month average, and the same when comparing the six month median to the twelve month median.  This means Ryan homes in Braemar are continuing to gain value in this seller’s market.

Seller subsidy is a column where we learn how much closing cost help, on average, sellers of Ryan homes are giving in their sales.  When looking at the details of our two most recent sales, the sellers gave no seller subsidy at all.  However, the six month average seller subsidy is a bit higher than the twelve month average.  Not the direction I’ve noticed lately.  More importantly, the six month median is exactly the same as the twelve month median.  This means that even the shorter term, more than half the Ryan home sellers in Braemar have been giving closing cost help of at least $5,000.

Days on market clearly shows the current seller’s market in full swing.   The six month average marketing time has decreased by twenty days from the twelve month average.  Meanwhile, the six month median is two days shorter than the already quick twelve month median.  Buyers are gobbling up Ryan homes in Braemar just about as fast as they are coming on the market.

If you placed your Ryan home in Braemar on the market, priced to current conditions, you could expect it to be under contract in less than one week.  You could also expect to give in the neighborhood of about 1% of the sales price in closing cost help, but might get away with giving nothing if this buyer demand continues producing intense competition.

The next Braemar Property Value Report will be out in November.  Until then, know that if you want to take advantage of the peaking prices in our neighbor, the year end market is a great time to do it.  Limited inventory is only getting more limited while buyers are still out in droves.  Get in touch and let’s investigate what a year end sale might mean for you.  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 2020 (NV Homes)

Braemar Property Value Report: July-August 2020 (NV Homes)

Another late September day, another Braemar Property Value Report to share.  This one focuses on the sales of houses built by NV Homes in our neighborhood and covers the activity from July and August.

There were two NV homes that sold during our current reporting period.  Their sold prices were very close to each other at $552,000 and $565,000.  Looking at the details below, on paper it seems the only difference is one had a walk out basement exit and the other didn’t have an exit at all.  That $13,000 difference in sales price, if all else is equal, is what appraisers call a market extraction.  That’s how appraisers determine values of different upgrades or structural differences.  Find two that are mostly alike except for one thing  and figure how much that one thing the higher priced home had is worth.  There isn’t just a list of values for basement exits, extra bedrooms, bathrooms, upgraded kitchens, etc.  It’s all determined by market extraction and why values for upgrades and structures change so frequently.  It’s one of the reasons that hiring a listing agent that understands this principle is so important.  They may be able to find a higher extraction and raise your value.

Enough with the market extraction lesson, the details of those NV home sales are listed below:

As is my practice, I take these most recent sales and combine them with the rolling twelve months of NV home sales and extract six month and twelve month value points to tell us how our market is trending.  The updated values can be found below:

Starting with the sold price column we see that the six month average is a tad higher than the twelve month average sold price.  Meanwhile, the six month median is nearly $10,000 higher than the twelve month median.  While NV home values are still pushing up, their rate of gain is not as pronounced as we see in lower price ranges.  The higher price ranges in our market have not been seeing the frenzied activity of the low $500K and below homes.  Still, upward pressing values is still a good thing.

The seller subsidy column shows us how much closing cost help NV home sellers have been giving on average.  The six month average has fallen below the twelve month average by more than half.  And the six month median and twelve month median remain at zero.  The latter means that more than half of buyers for NV homes are foregoing closing cost requests, or having them negotiated away, in their transactions.  We do see in the two sales above that one seller gave nothing and the other gave $3,000.  Seeing $15,000 in closing cost help is going to be exceptionally rare in this seller’s market.

Days on market is where we find out how long it is taking NV homes to sell in Braemar.  Though only up by one day each, the six month average is higher than the twelve month average and so is the six month median compared to the twelve month median.  The two most recent sales show days on market of over three weeks.  As I stated earlier, the higher price ranges are not as fast as the lower priced single family homes in our market.

If you placed your NV 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 give minimal closing cost help, if any at all.

The next Braemar Property Value Report will be in out in November.  Until then, I hope you all enjoy the fall season’s upcoming display of brilliant color.  Of course, if you have been thinking of taking advantage of the peaking prices in our neighborhood, or find yourself in a position where a move is inevitable, know that our year end market is one of my favorites in which to sell.  Demand is always there, but inventory is very low.  This year, that difference will be even more pronounced with higher buyer demand than we have seen many fall markets.  Give me a call and let’s see what a year end sale would mean for you.  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 2020 (Heritage Series)

Braemar Property Value Report: July-August 2020 (Heritage Series)

The arrival of fall is one of my favorite things in a calendar year.  Like many, I am anxious to see the brilliant display of fall foliage that is on the way.  In the meantime, allow me to share with you the most recent Braemar Property Value Report.  This one details sales of homes in the Heritage Series.  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.

 

During the months of July and August, there were fourteen Heritage homes that sold.  That’s a lot, but still not enough to meet our current buyer demand.  Details of those sales are listed below:

Taking these fourteen sales and combining them with the entire past twelve months of Heritage home sales in Braemar, our six and twelve month data points are updated as seen below:

Starting with the sold price column, we see increased values in the six month average and median sold prices over the twelve month average and median sold prices.  This means Braemar Heritage homes are continuing to increase in value.  That’s the beauty of a seller’s market.

In the seller subsidy column, we learn how much closing cost help Braemar Heritage home sellers are giving in their transactions.  The great news is that it is not much, if anything at all.  The six month average seller subsidy has been whittled down about one thousand dollars from the twelve month average.  Meanwhile, the median values still show us that more than half the sales, in the last six months and during the last year, are giving nothing in seller subsidy.

Days on market is another column where we see the seller’s market condition in full swing.  The six month average marketing time is less than half the twelve month average marketing time.  Meanwhile, the six month median days on market is exactly that same as the twelve month median.  Heritage homes in Braemar are selling quickly!

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect to be under contract in about a week or less.  You could also expect that you would have enough leverage in negotiations to not give anything in closing cost help.

The next Braemar Property Value Report will be out in November.  Until then, if you want to take advantage of the peaking values this seller’s market is producing, know that the year end market is going to push them even higher.  Why?  There are even fewer sellers this time of year and I can tell you, the buyers are still out looking for homes.  Give me a call and let’s look at what a year end sale would mean for you.  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 2020 (Arista Series)

Braemar Property Value Report: July-August 2020 (Arista Series)

The chill of fall is in the air and reminding me why I love this time of year so much.  Brightly colored leaves will be a welcome sight next month.  Unfortunately for buyers, it seems the coming of fall doesn’t seem to have lightened demand for housing.

Right now, it is time for another Braemar Property Value Report, detailing sales of homes in the Arista Series.  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.

During our current reporting period of July and August, there were four Arista homes that sold.  The details of those sales are listed below.

Combining these four sales with the entire previous twelve months of Arista home sales, back to June 2019, our updated six and twelve month value points are updated as seen below.

Starting with the sold price column, we see that both the six month average and six month median values are both higher than their respective twelve month values.  This means that Arista home values in Braemar continue to push upward.

The seller subsidy column is where we see how much closing cost help sellers are giving.  While the six month median and twelve month median values are identical, indicating no change, the six month average is slightly higher than the twelve month average.  As our market demand continues to increase prices and move homes quickly, buyers in upper price ranges may be struggling to afford every cost associated with buying them.  We see that half of the sellers in our current reporting period gave closing cost help, the other half gave none.

The last column shows us how long it has been taking to sell Braemar Arista homes.  Both the six month average and median marketing times are faster than their twelve month counterparts.  This means Braemar Arista homes are selling faster.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contract in about a week.  You could also expect you may have to give some closing cost.  Expect the worst, hope for the best.

The next Braemar Property Value Report will be out in November.  Until then, if you have been looking for the top of the market to sell your Braemar home, we are nearing that point.  We will only know we’ve hit the top when we start to see prices falling.  Now is an excellent time to sell.  Get in touch with me if you want to investigate the sale of 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: May-June 2020 (Ryan Homes)

Braemar Property Value Report: May-June 2020 (Ryan Homes)

This summer in the Bristow real estate market has been one for the books.  Despite the pandemic that hit this year, our demand for housing has reached a fever pitch.  Normally, come July and August, our real estate market is pumping the brakes as would-be buyers become more focused on vacations and back to school activities.  Not this year.  This has been the busiest July I have experienced since getting my license in 2005.

In today’s Braemar Property Value Report, which features sales of Ryan Homes in our neighborhood, we will be looking back to the activity from May and June.  During those two months, there were two Ryan Homes in Braemar that sold.  The details of those sales are listed below.

When looking at the two sold prices above we notice quite a spread in the two sold prices.  Who would expect a home with an unfinished basement and one less full bathroom to close for more than a home those items?  Well, upon closer inspection, the home at 12821 Gentle Shade was a foreclosure in rough shape.  It need carpet, paint, floors refinished, etc.  Not uncommon to find that sellers would couldn’t afford their mortgage payments also couldn’t afford to keep up with their homes. Nonetheless, that’s the reason for the difference.

Combining these two sales with the entire previous twelve months of Ryan Homes sales in Braemar, we get updated six and twelve month value markers that tell give us insight to our market.  Those updated value markers are found below.

Looking first at the sold column, we find both the six month average and six month median sold prices are substantially higher than their twelve month counterparts.  This means Ryan Home values in Braemar are still rising.

The seller subsidy column shows us what Ryan Home sellers have been giving buyers in closing cost help on average.  I’m a bit surprised to see both the six month average higher than the twelve month average AND the six month median higher than the twelve month median.  In most reports, I’m finding as buyer competition has increased, seller subsidy has decreased.  We’ll keep an eye on that for next report.

The days on market column shows us how long it has taken Ryan Homes to go under contract in our Braemar market.  This trend is exactly what I would expect to see.  Both the six month values are faster than their respective twelve month values.  This means Ryan Homes have been selling faster in the more recent sales.

If you placed  your Ryan Home on the market, priced to current conditions in Braemar, you could expect it to be under contract in less than a week.  You could also expect to pay a bit more  than 1% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in September.  Until then, I hope you enjoy the rest of your summer.  And if the time comes to sell your Braemar home, give me a call.  With top notch marketing and unparalleled knowledge of our neighborhood, I can help you maximize your profit in any market conditions.  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 2020 (Arista Series)

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

House hunting during July and August in Braemar can be brutal.  The heat and humidity can get to you, especially during a time when no overlapping showings can happen thanks to COVID.  I’ve been standing in the front lawns of quite a few area listings just waiting for my turn to show a property.  Couldn’t be happier than I am right now to be sitting in my air conditioned home typing this Braemar Property Value Update for Arista home owners 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 were three Braemar Arista homes that sold during our most recent reporting period, which encompasses May and June.  The details of those sales are listed below.

At first glance you notice that the middle sale is highlighted in a pink.  That’s because that is a listing that I sold.  And looking in comparison with the other sales, it seems my sellers made out very well.  They sold in a shorter period of time than the other sellers, paid no closing cost help and considering the only three finished levels without a secluded lot, they did very well on their price.

When we take these three sales from May and June and compare them with the entire past twelve months of Braemar Arista home sales, we get updated six and twelve month data points, as seen 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 twelve month counterparts.  This means Braemar Arista homes are continuing to push up in value in this crazy seller’s market.

Another trend we see in a seller’s market is decreasing seller subsidy, or as it is also know, closing cost assistance.  Yes, the trend is certainly favoring sellers.  Both the six month average and median seller subsidy values are less than their twelve month counterparts.  Sellers aren’t having to give as much in closing cost help as they were.

Finally, looking at days on market, another seller’s market trend is clear. Both the six month average and six month median marketing times are shorter than their twelve month respective values.  This means Braemar Arista homes are selling faster.  Though these higher price range homes do tend to take a bit longer to sell than less expensive and smaller homes.

If you placed your Braemar Arista home on the market, priced to current conditions, your could expect it to be under contract in no more than a month, possibly even less time than that.  You could also expect you may have to pay less than 1% of the sales price in closing cost help.

The next Braemar Property Value Report will be in out in September.  Until then, when the time comes to sell your Braemar home, give me a call for the most accurate evaluation of your home and a professional marketing plan that will maximize your profit.  Since 2005, No One Knows Braemar Better!

Chris Ann Clelan

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 (Ryan Homes)

Braemar Property Value Report: March-April 2020 (Ryan Homes)

Yikes!  The end of the month is only a couple days away and I’ve got two Braemar Property Value Reports left to share.  Today, let’s look at the Braemar Property Value Report that I put together for homes built by Ryan Homes in our neighborhood.

During our current reporting period, March and April 2020, there were three Ryan Homes that sold.  The details of those sales are listed below:

Taking these three sales and combining them with the entire past twelve months of Ryan Home sales in Braemar, our six and twelve month data points are updated as pictured below.

Starting first in 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 Ryan Homes in Braemar are still gaining value.

Next up is the seller subsidy column.  Seller subsidy is also known as closing cost help that sellers give buyers.  While the six month average seller subsidy is ever so slightly less than the twelve month average seller subsidy, the six and twelve month median values are exactly the same.  Looks like this is a an area that isn’t changing.

When it comes to marketing time we see conflicting information.  The six month average marketing time is longer than the twelve month average marketing time.  In contradiction, the six month median marketing time is a bit shorter than the twelve month median marketing time.  Hmm.  We’ll have to wait and see where this trend goes, but for now we’ll call it stable.

If you placed Ryan Home on the market, priced to current conditions in Braemar, you could expect it to be under contract in as little as a week, or as long as a month.  You could also expect to pay about 1% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in July.  Until then, despite the pandemic, we are experiencing a very strong seller’s market.  If you want to take advantage of it, hiring the right real estate agent has never been more important.  My top notch marketing, combined with the COVID showing precautions I recommend to sellers, can get you top dollar and keep you safe at the same time.  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

 

Another Braemar Single Family Home Sold Above List Price!

Another Braemar Single Family Home Sold Above List Price!

You never know where your next listing will come from, but as a Top Braemar Listing Agent I am never surprised when I get to interview for a listing owned by friends or neighbors of former clients.  That was the case with 12157 Millbill Court.  My foot got in the door thanks to the sellers of 12146 Millbill who I had helped sell in 2019.  What got me the job was my in depth knowledge of the neighborhood, recent experience selling a home on a similar lot at 12181 Cheshire and most importantly, my approach to looking at the numbers.  Apparently, out of three agents that were interviewed, I was the only one that gave the sellers a ball park of where their home would sell.

The home at 12157 Millbill, as you can tell by looking at the virtual tour by clicking the link above, was very nicely updated and sure to please a buyer.  Even though it was a drizzly, cloudy day when the photographer came out to the property, the home still showed beautifully.  It wasn’t a surprise when it got an offer the first day on the market.  A few days later and it had a total of three offers.

The owners had been following the estimated value of their home by frequenting sites like Zillow, Redfin and Realtor.com.  When we first met, they were convinced they would be overpriced to list higher than $525,000.  Those sites are so often so far off the mark it is silly.  In this case, they were low.  I was only able to get the sellers up to $537,500 when we did the listing paperwork.  Thankfully, right before we hit the market as a coming soon property, they saw what I had been seeing and decided my $549,000 suggest list price was not off base.

After those three offers, the sellers chose one of two nearly identical offers.  They chose a no down payment buyer with a stronger motivation to buy.  Someone relocating for a job.  It ended up being the absolute best choice.  Buyers were dropping out of deals once the pandemic really hit the U.S. and impacted the stock market.  My sellers’ deal, meanwhile, was solid.

Today, April 30th (2020,) 12157 Millbill went to settlement for $556,000.  Because of the competitive situation and well qualified buyers, they did not have to give a dime of closing cost help.

Despite the precautions in our market to stay at home due to COVID, many buyers are still looking for homes.  Interest rates are low and people need places to live, particularly the multitude of buyers who relocate to our area for work.  If you want to know how to safely sell your home while still maximizing profit, l can get you great results.  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 2020 (Ryan Homes)

Braemar Property Value Report: January-February 2020 (Ryan Homes)

Another day in self-isolation, another Braemar Property Value Report to share with my fellow Braemar home owners.  No matter what is happening in our market, this Top Braemar Real Estate Agent is on the job.  This particular report focuses on property values of single family homes built by Ryan Homes in our neighborhood.  Let’s get to it.

Despite the fact that there were no Ryan Homes sold in the first two months of 2020, our current reporting period, the six and twelve month data points did get recast when the sales from January and February 2019 fell off and the six and twelve month markers shifted.  The latest value points are listed below.

In the sold column we have conflicting information.  The six month average sold price has fallen below the twelve month average sold price.  That would normally mean decreasing values.  However, the six month median sold price is above the twelve month median sold price.  That would normally mean increasing values.  We’ll have to wait and see what the next report brings.

The seller subsidy column, meanwhile, shows a definitive trend.  Both the six month average and six month median values are below their respective twelve month values.  This means that  in our competitive market place, where buyers are often competing for fewer homes, buyers are foregoing large closing cost requests, or not requesting closing cost help at all, to get under contract. Will this continue?  There is plenty demand despite the pandemic we are experiencing, but more on that later.

Days on market is a bit troubling.  Both the six month average and six month median marketing times are much higher than their twelve month respective values.  This means it has been taking longer to sell Ryan Homes.  Our next report should clear up what’s going on there.  It doesn’t match with what I’ve personally experienced as a Braemar Listing Agent in recent history.

If you placed your Ryan Home on the market, priced to current conditions, this report indicates you could expect it to be under contract in an average of about sixty days, maybe more.  You could also expect to give less than 1% of the sales price in closing cost help.

How will the unprecedented precautions being taken to prevent the spread of COVID-19 affect our real estate market?  It is hard to tell, but from where I sit as a full-time Bristow Real Estate Agent, I am still taking listings and helping buyers.  Properties are still going under contract.  Remember, there is a large demand for housing in our area thanks to the expansion of Micron in Manassas.  That expansion is adding more jobs in our back yard than Amazon relocating to Arlington did to our state.  Of course, we’ve already seen many Micron employees relocating here since the close of their Utah plant.   Some buyers and sellers not needing to be in the market at this time may pull back from fear, but we still have plenty of people relocating into the area, and enough relocating out of the area, to keep our market going.

If you find yourself needing to sell during this time, it has never been more important to work with a full-time, experienced professional who is in business in good times and uncertain times.  I’m here for you whenever the need arises.  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 2020 (NV Homes)

Braemar Property Value Report: January-February 2020 (NV Homes)

It is time for another Braemar Property Value Report.  As the social distancing that has been happening for over a week is beginning to wear on us, I am thankful to have tasks like this to do.  These reports have been part of my bi-monthly routine since the middle of 2005.  This particular report focuses on property values of single family homes built by NV Homes in Braemar.

There were two NV Homes that sold in the first two months of 2020.  The details of those sales are listed below.

Taking these two sales and adding them to the entire past twelve months of NV Home sale data, our six and twelve month data points are updated as seen below.

Looking first at the sold price column, it is good to see the six month average sold price higher than the twelve month average sold price.  In a conflicting trend, we see that the six month median sold price is lower than the twelve month median.   Hard to say which way values are heading.  Our most recent sales have a wide price gap at $561,500 and $651,000.  We will have to wait and see where we go next report.

The seller subsidy column shows a definite trend.  Both the six month average and six month median sold prices are well below their respective twelve month values.  This means that buyers have been foregoing or limiting requests for closing cost help from sellers in the competitive market that buyers are facing.

Days on market shows very stable average marketing times in the six month value compared to the twelve month value.  Just under two weeks to get an NV Home under contract in both.  Meanwhile, the six month median marketing time is half the already low twelve month marketing time of eight days.  NV Homes are selling quickly.

If you placed your Braemar NV Home on the market, priced to current conditions, you could expect it would take no more than two weeks to go under contract.  You could also expect to pay minimal amounts of seller subsidy, if any.

Will the pandemic we are facing of COVID-19 affect our Braemar real estate market?  Perhaps in the very short term, but likely not as bad as you may think.  Fearful buyers and sellers that do not have to relocate may pull back and put off their real estate plans.  However, there are plenty of buyers coming to our market with the expansion of Micron in Manassas.  Did you know that Micron’s expansion is bringing more jobs to our local area than Amazon’s move to Virginia did to the entire area?  Buyer demand will continue to be there for any seller wanting, or needing to capitalize.

One thing that will change is mortgage interest rates.  We are seeing them begin to increase.  The reason being that mortgage rates are based on the value of ten year treasury bonds.  Whenever a Federal government bailout happens, it is money being borrowed against those ten year treasury bonds, raising mortgage interest rates.  The good news for the market in general is that mortgage interest rates had been so low anyway, it won’t be so damaging.

The next Braemar Property Value Report will be out in May.  By then we will know what affect COVID-19 has had on our market in the months of March and April.  Until then, if the need arises for you to sell, give me a call.  No matter the market condition, I am here to help you maximize your Braemar home’s value.  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