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

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

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

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

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

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

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

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

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

The next Braemar Reflection Quarterly will be out in January.  Until then, if the need to move arises, don’t count out our year end real estate market.  Give me a call for a free market analysis and I’ll tell why the year end selling season is my favorite market.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

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

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

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

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

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

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

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

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

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

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

The next Braemar Property Value Report will be out in November.  Until then, when you want to investigate the sale of your Braemar home and what it would be worth in the current market, call me for a free market analysis.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

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

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

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

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

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

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

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

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

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

The next Braemar Property Value Report will be out in November.  Until then,know that you  can’t start to preparing to sell too early. When you are starting the thought process of moving, give me a call.  Since 2005, No One Knows Braemar Better.

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

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

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

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

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

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

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

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

The next Braemar Property Value Report will be out in September.  Until then, if you want to know how the most recent sales activity in Braemar is affecting your home’s values, give me a call at 703-402-0037.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

Braemar Property Value Report: May-June 2018 (Heritage Series)

Braemar Property Value Report: May-June 2018 (Heritage Series)

It’s a dreary Monday in Braemar.  At least it isn’t raining.  After Saturday’s all day down pour, I am thankful for the break.  Of course, there is no break when it comes to selling real estate, at least not for this Top Braemar Real Estate Agent.  Time to get out another Braemar Property Value Report.  This one focuses on sales of Heritage Series homes in 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 eight Heritage Series homes that sold between the beginning of May and end of June.  The details of each sale are listed below:

You can see there is a wide range of sold prices, but most of the sales are grouped around $470,000-$475,000.  When we take these sales and update our twelve months worth of Heritage Series sales, here is what come up with:

While the increases in average and median sold price in the six month values compared to the twelve month values are not huge, they are still increases.  That’s good to see when you look at the most recent activity.   Seller subsidy (closing cost assistance to buyers) is unchanged in the six month median compared to the twelve month median.  The seller subsidy is the six month average is every so slightly less than the twelve month average.  Marketing time has come down from the twelve month average and median days on market when compared to the six month average and median value.   These are all good trends, no matter how slight.

If you placed your Braemar Heritage Series home on the market, priced to current conditions, you could expect it to be under contract in about two to three weeks.  You could also expect to pay 1% to 1.5% of the sales price in closing cost assistance.

The next Braemar Property Value Report will be out in September.  Until then, when you want to know how the most recent sales in the neighborhood are affecting your specific 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®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

 

 

Braemar Reflection Quarterly: April-June 2018 (2nd Quarter)

Braemar Reflection Quarterly: April-June 2018 (2nd Quarter)

From the looks of the forecast for today, it seems as though we are going to have a really gorgeous summer day.  Not too hot and not too humid.  Hope you get out to enjoy something fun.  Maybe some time at one of our two community pools in Braemar.  Or a game of tennis at the under-utilized tennis courts.  For me, the outdoor fun can start after I type up this latest edition of the Braemar Reflection Quarterly.  It focuses on sales of the semi-attached single family homes on Tarvie Circle.

In the second quarter of 2018, there was only one Reflection home that sold.  Details are below:

When we take this one sale and add It to our rolling twelve months of Reflection home sales, here’s what we get:

There is a lot of good news when we look at the six month data points and compare then with our twelve month data points.  For starters, the six month average and median sold prices are higher then the twelve month average and median sold prices.  The seller subsidy (closing cost help to buyers) is lower in the six month average and median values compared to the twelve month average and median seller subsidy.  Finally, the marketing time (days on market) is one week in the six month average and median data points, which is slightly improved from the twelve month median, but drastically improved from the twelve month average.

If you placed your Braemar Reflection home on the market, priced to current conditions, you could reasonably expect it to be under contract in about a week.  you could also expect to give about 1% of the sales price in closing cost help to your buyer.

The next Braemar Reflection Quarterly will be out in October.  Until then, if you want to know 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®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

 

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

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

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

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

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

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

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

The next Braemar Property Value Report will be out in May.  Until then, when you are ready to sell your NV Home, give me a call.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com