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

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

As I type up this most recent Braemar Property Value Report for home sales in the Arista Series, it is St. Patrick’s Day.  Will the luck of the Irish be with us in this report? Thankfully, luck has nothing to do with the market.  It’s all supply and demand.  Keeping regularly tabs on the market stats gives us the best idea of where supply and demand are trending.

Before we get to the report itself, if you don’t know what a Braemar Arista Series home is, they are the largest homes built by Brookfield Homes in Braemar.  The floor plans include the Allister, Buckingham and Canterbury.

During the current reporting period of January and February, there were no Arista homes that sold.  Supply problem or demand problem?  Hmm.  We’ll know next report because there are currently quite a few Arista homes on the market.

What we can do is take a look at the refreshed six and twelve month average and median values. 

Unfortunately, the six month average and median sold prices have fallen below the twelve month average and median sold prices.  Values had been slipping in recent sales near the end of the year.  That is an indication that demand for the largest homes in the neighborhood was waning.  Only time will tell if that continues.

Seller subsidy (closing cost assistance to buyers) is much lower in the six month values compared to the twelve month values.  Buyers in the most sales did not require large amounts of closing cost help.  That’s good news.

When it comes to days on market (marketing time) we see mixed information.  The six month average marketing time is lower than the twelve month marketing time.  Meanwhile, the six month median marketing time is higher than the twelve month median.  Neither change is very dramatic.

If you placed your Braemar Arista home on the market, priced to current conditions, these numbers indicate that your home should be under contract and well on it’s way to settlement, in eight to ten weeks.  You could also expect to pay a small amount in closing cost help.

The next Braemar Property Value Report will be out in May.  Until then, if you would like to know what your home would be worth in today’s 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

www.UncompromisingValues.com

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Braemar Property Value Report: November-December 2018 (Ryan Homes)

Braemar Property Value Report: November-December 2018 (Ryan Homes)

There is no more appropriate picture for the Ryan Homes edition of the Braemar Property Value Report being published today than the one above.  That was an Oberlin model that I sold as a Short Sale a few years ago.  As a Top Braemar Real Estate Agent, I get plenty of gorgeous weather shots of homes, but not too many in the snow.  That’s because not many folks list for sale in the winter months.

You may be surprised how much demand we actually have during the winter in Braemar.  This report alone covers the months of November and December, which most think are dead zones are in real estate.  Yet, there were four sales of homes built by Ryan Homes in our neighborhood in the last two months of 2018.  The details of those sales are listed below:

First thing you may notice are the outliers at either end of the sold price spectrum:  $440,000 and $615,000.  Fortunately, the method of taking these four sales and compiling them with the entire past year’s worth of Ryan home sales, we get a more stable picture of what is happening with values by separating out six and twelve month data points.

Stability leaps off the table in the sold price column.  The six month average sold price is only $133 below the twelve month average sold price.  Meanwhile the six and twelve month median sold prices are exactly the same.  Really, Ryan homes have not gained, or lost any ground.

Seller subsidy (closing cost assistance) seems to have decent trend happening when we look at the six month average falling below the twelve month average.   Yet the six month median seller subsidy is the same as the twelve month median seller subsidy.  Of course looking at two of the most recent sales above, they fall above both of the average and median seller subsidy   Probably best to call this one stable for now.

Days on market is a category that is going to be tricky for a while.  In November, our region switched to a new MLS system which counts days on market differently.  So until we have a full year’s worth of data in the new MLS, which would be this same time next year, we can’t conclusively say what’s what.  However, glancing at the six month average and median values compared to the twelve month average and median values, I’m not seeing the increase in marketing time that I expected with the new MLS.

If you placed your Ryan home on the market, priced to current conditions, you could expect it to be under contract and potentially well on its way to settlement within two months.  You could also expect to pay at least half of one percent of the sales price in closing cost help.

The next Braemar Property Value Report will be out in late March.  If you would like to receive the full, letter size, Ryan Homes Braemar Property Value Report by email, send me an email at ChrisAnn@LNF.com.   Of course, if the time comes when selling is in your future, 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

www.UncompromisingValues.com

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

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

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

This particular Braemar Property Value Report focuses on sales of Heritage Series homes in our neighborhood during November and December 2018.  Heritage Series homes are mid-sized single family homes, built by Brookfield Homes.  They have two car attached garages and include the following floor plans:  Exeter, Yardley, Zachery (a.k.a. Zurich) & Waverly.  The homes built by Coscan in Braemar North Gate are also included in this group, as they are similar in size.

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

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

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

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

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

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

The next Braemar Property Value Report will be out in late March.  If you would like to receive a digital copy of the actual report, which is much like a financial statement of your home’s value, send me an email at ChrisAnn@LNF.com.  Of course, when it is getting time to sell your Braemar home, give me a call for a free market analysis.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

 

 

 

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

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

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

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

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

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

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

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

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

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

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

Until next time, if you want to know what your specific Braemar home is worth, contact me for a free market analysis.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

 

 

Braemar Property Value Report: September-October 2018 (Ryan Homes)

Braemar Property Value Report: September-October 2018 (Ryan Homes)

If there was one mediocre weather event that I could get rid of, it would be days of strong, gusting winds.  As much as I dislike rain, I would rather have that than wind.  At least the sound of rain is soothing.  The sound of a strong gust of wind hitting my house has the opposite effect.   Might be time to get lost in my headphones with some good music playing while I present this Braemar Property Value Report detailing sales of Ryan Homes in our community.

During our current reporting period, which is the months of September and October, there were four Ryan Homes sold in Braemar.  Their sold prices ranged from $430,000 to $500,000 and are detailed below.

Taking these most recent sales and placing them in with the last year’s worth of Ryan Home sales, we get new six month and twelve month data points that will give us some indications as to what is happening with home values and other data points important to Ryan Home owners in Braemar.

Looking first at the six month average sold price compared to the twelve month average sold price, we see a drop in average value in the short term.  The six month median sold price is also below the twelve month median sold price, but not by as much.  Time will tell if this is a downward trend in value, or if this our market reaching a more stable condition.  The seller’s market has definitely cooled.

Better news is that seller subsidy (closing cost assistance to buyers) is down in both the six month average and median value compared to their twelve month counterparts.  This means Ryan Home owners in Braemar are giving less in closing cost help to buyers.

Days on the market, which I like to refer to as marketing time, shows a slight decrease in average days on market in the six month values compared to the twelve month values.  The six month median days on market, however, shows a much more significant decrease in marketing time.  Ryan Homes in Braemar seem to be selling a bit faster.

If you placed your Ryan Home on the market, priced to current conditions, you could expect it to be under contract in a month or two.  Odds are also in your favor that you could expect to give a nominal amount in closing cost help.

The next Braemar Property Value Report will be out in January.  If you would like to sign up for direct email of these reports when they are ready, send me an email to ChrisAnn@LNF.com with “BPVR Request” in the subject line.   Include your property address, so I can get you the proper report, and the email address where you would like to receive it.

Until January, if you find yourself in a position to sell in our year end market, don’t panic.  There are many actually advantages to off-season selling.  Give me a call for a free market analysis anytime.  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 2018 (NV Homes)

Braemar Property Value Report: September-October 2018 (NV Homes)

It is probably obvious to you that not every real estate agent you may know that serves our area goes to the trouble of preparing market reports for the area.  Sure, there are cut and paste lines from the MLS that make it to my door, but they give you all the information for the neighborhood.  How is that helpful?  If you own an NV Home, does it matter how long it took a townhouse to sell?  Or a carriage home?  Or a house in the age restricted Dunbarton?  No, it doesn’t.  That’s why I personally prepare these reports myself, and take the time to explain them to you.

Today’s Braemar Property Value Report focuses on sales of NV Homes, of which there were two during our reporting period of September and October.  The details of those sales are listed below:

When I take these two sales and replace September and October 2017 in my rolling year’s worth of NV Home sales, I am able to get a fresh look at our six and twelve month average and median data points.  They now look like this:

When comparing six month values to twelve month values, the shorter term are indicative of current trends when compared to the longer term.  The six month average sold price has fallen slightly below the twelve month average sold price.  By itself, that may be a sign of a slowing market for sellers.  However, the fact that the six month median value is the same as the twelve month median does not give that indication.  What NV homeowners are experiencing are stable market values.

Seller subsidy (closing cost assistance to buyers) is showing short term trends that NV homeowners will love.  The six month average seller subsidy is lower than the twelve month average seller subsidy.  The six month median seller subsidy is way below the twelve month median seller subsidy.  This means that NV homeowners have been giving less money in closing cost help to buyers.

Days on market, or as I call it, marketing time is another showing stability.  The six month average marketing time is about two weeks faster than the twelve month average marketing time.  That’s great and by itself would be indicative of a trend that NV Homes are selling faster.  However, when we look at the median marketing times in the six and twelve month markers, we see they are exactly the same.  This is stability in marketing time as far as I am concerned.

If you placed your NV Home on the market, priced to current conditions, you could expect it to be under contract in under fifty days.  You could also expect to give under 1% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in January.  If you would like to be on the email list to receive the report relevant to your home style, send me an email at ChrisAnn@LNF.com with BPVR Request in the subject line.  Then give me your property address and email address where you would like the report delivered.

Of course, if you have a need to sell this year end, don’t panic.  Give me a call at 703-402-0037 and I’ll be happy to go over comps and tell you why my year end listings sell.  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 2018 (Heritage Series)

Braemar Property Value Report: September-October 2018 (Heritage Series)

Driving through Braemar, I notice more and more houses displaying holiday lights, or Christmas trees in the window.  It all brings a smile to my face. Eventually, I’ll get up the motivation, after watching enough Hallmark Christmas movies, to get up my own tree, but for now, my motivation lies in getting the latest in property value news out to the neighborhood.  This Braemar Property Value Report focuses on homes in the Heritage Series.  Heritage Series homes are mid-sized single family homes, built by Brookfield Homes.  They have two car attached garages and include the following floor plans:  Exeter, Yardley, Zachery (a.k.a. Zurich) & Waverly.  The homes built by Coscan in Braemar North Gate are also included in this group, as they are similar in size.

This particular reporting period, covering sales between September and October, comes up with only three Braemar Heritage homes that sold.  the details of these sales are listed below:

As you can see, there is quite a difference in the lowest sold price and the highest sold price.  Big difference like that can throw off a tracking of average and meidan values.  That’s one of the reasons I have adjusted the way I do these reports and look at those values.  What happens next is I simply replace the data from September and October 2017, with these three sales in my rolling twelve month data store.  Then I parse out the six and twelve month values, giving us this:

For starters, looking at the six month average and median sold prices we see that they are both falling below the twelve month average and median sold prices.  that’s not great news and could be an early indication that Heritage home values are starting to slip.  At least two of the current three sales reported above fall about the six month median.  Only one falls above the six month average.  Time will tell if this is truly a slip in value, or a momentary anomaly.  After all, with news that Amazon is basing one of its headquarters in Arlington, a boost in market value in our entire metropolitan marketplace is expected.

The six month average seller subsidy (closing cost help to buyers) is a tad higher than the twelve month average.  However, the six month median seller subsidy is lower than the twelve month seller subsidy.  Looks like Braemar Heritage home owners continue to give about the same amount of closing cost help in their deals.

Finally, days on market shows that the six month average and median values are below the twelve month average and median values.  In the cast of the median, it is only by one day.  This means that it is taking about the same amount of time to sell a Braemar Heritage home as it has for the past year.

If you placed you Braemar Heritage home on the market, priced to current conditions, you could expect it to be under contract in about a month. You could also expect to give about 1% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in January and will detail our year end market, which happens to be one that I believe in very strongly.  It gets a bum rap from most real estate agents, but there really is a something magical in finding a home during the holidays.  And that kind of emotional pull by buyers, with limited inventory, can do wonders for a seller.  Want to explore the option of selling in the off-spring market?  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