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 

Braemar Property Value Report: January-February 2017 (Arista Series)

Braemar Property Value Report:  January-February 2017 (Arista Series)

Spring is in the air in Bristow.  As I drive down our suburban streets of Braemar I’m seeing daffodils and hyacinths blooming and our trees are finally sprouting their buds.  While winter didn’t give us much of a show this past season, I know we all get excited when warmer weather approaches and our days are gaining sunlight.  The warm weather and sunlight has been tempting me away from my Braemar Property Value Reports.  It’s easy to start them on a cold dreary day.  Harder to get them done when spring awaits just out the front door.

This particular report will focus on home sales in the Arista Series.  Arista Series homes are the large, single family homes built by Brookfield Homes.  The floor plans are:  Allister, Buckingham and Canterbury.

The beginning of 2017 definitely got off to a better start in the Braemar real estate market, than the previous year saw as it neared its end.   When we last left the Braemar Property Value Report for Arista Series homes, we saw only one sale at $510,000.  Well, we only have one to report between January and February, but it listed and sold for $555,000.  And instead of making that a marker of value in and of itself, we’re going to look back to six and twelve month average and median markers.

The average sales price for the last six months is virtually the same to the twelve month average.  The median sales price for the last six months, however, has dropped a tad from the median we saw over the twelve month period.  That drop wasn’t monumental.  What I see is stability in pricing.  Market demand of late will likely bring values up.

If you put your Arista Series home on the market, priced to current conditions, you could reasonably expect it to be under contract in 41-56 days time, which are the median and average marketing times found in our rolling six month data.  You could also expect a buyer to request closing cost help.  The average closing cost assistance was $7,714, but I have found the median numbers to be more reliable here.  That would mean closing cost assistance of $10,000.

The next Braemar Property Value Report will be out in May and will give us more recent information as we pull in March and April’s data into our rolling averages.  Until then, when you are ready to sell 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®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

Braemar Property Value Report: November-December 2016 (NV Homes)

Braemar Property Value Report:  November-December 2016 (NV Homes)

Tuesdays that feel like Mondays, following a three day weekend, always throw me off.  I’ll feel like I am playing catch up all week on my paperwork, and believe me, there is a lot of in the world of real estate.  And then there are my market reports.  I am playing catch up on those today, after running out of time to post the NV Homes edition of the Braemar Property Value Report yesterday.  That’s the report that tells you what happened with NV Homes in Braemarsingle family homes built by NV Homes in Braemar.  Let’s get to it and see what happened in the last two months of 2016.

Only two NV Homes in Braemar sold between the beginning of November and end of December.  The high sold price was $545,000 and the low sold price was $409,900.   The former was a Remington model with four bedrooms, three and a half bathrooms and a fully finished walk-up basement.  It was also 3,136 square feet on the first two levels of the home.  The latter was a Raleigh model with one less full bathroom, no finished basement with what appeared to be no exit and only 2,600 square feet on the first two levels of the home.  These homes were very different.  The average of both gives us our new average market value for NV Homes in Braemar of $477,450.  That new average market value marks a decrease in average value of 9% since last report and a decrease of nearly 3% since last year.  Having said that, I feel it is important to note that most NV Homes are on the larger side, so these results this edition are being skewed by a smaller home.

Braemar Property Value Report:  November-December 2016 (NV Homes)

If you placed your Braemar NV Home on the market, priced to current conditions, it may take nearly four months to get a buyer.  I suspect that number will go down now that we are heading into spring.  You could also expect to pay an average of nearly 3% of the sales price in closing cost help for the buyer.

Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037The next Braemar Property Value Report will be out in March and detail sales from January and February.  Until then, when you are ready to sell 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®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

 

Statistics compiled using the MRIS (Metropolitan Regional Information Systems.)

Braemar Property Value Report: November-December 2016 (Arista Series)

Braemar Property Value Report:  November-December 2016 (Arista Series)

The new year is here and while we are less than two weeks into it, I am here to tell you that the buyers are out and house hunting.  The spring real estate market is Popular Canterbury Model in Braemarhappening early this year.  Don’t let the snow we saw on the ground fool you.  Of course, this edition of the Braemar Property Value Report is focusing on what happened in the last two months of 2016.  Let’s get to it and see what happened with Arista Series home values.  Arista Series homes are the large, single family homes built by Brookfield Homes.  The floor plans are:  Allister, Buckingham and Canterbury.

Unfortunately there was only one sale of an Arista Series home in the last two months of 2016.  Its sales price was $510,000.  It had been listed for $525,000.  It was a Canterbury model with four bedrooms, two and a half bathrooms and a partially finished basement.   If we took this price and compared it to last report’s average, it would mean about a 3% decrease in value.  However, the great news is that last report, five homes sold and three of them sold for higher than $510,000.  One sold exactly for $510,000.  In other words, there is no cause for alarm.  And since there was no Arista Series home sales in the last two months of 2015, we have no year to year comparison.

Braemar Property Value Report:  November-December 2016 (Arista Series)

Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037If you placed your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contract in a about a month and a half.  You could also expect to pay 2% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in late March and will focus on sales from the first two months of 2017.  Until then, when you are ready to sell 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®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.comwww.UncompromisingValues.com

 

Statistics compiled using MRIS (Metropolitan Regional Information Systems.)

Braemar Property Value Report: July-August 2016 (Arista Series)

Braemar Property Value Report:  July-August 2016 (Arista Series)

While it has been quite humid the last few days, it is evident that fall is approaching.  Passing through Native Rocks Drive yesterday I saw that some trees were already dropping some leaves.  Since summer is behind us, let’s take a look back at the months of Canterbury Model in BraemarJuly and August in this edition of the Braemar Property Value Report and see what happened with the sales of Arista Series homes.  Arista Series homes are the large single family homes built by Brookfield Homes.  The floor plans are:  Allister, Buckingham and Canterbury.

While it is better than none, there is only one Arista home sale to report for the last two months.  It was a Canterbury with only two finished levels, which is fairly unusual for the neighborhood.  It listed for $505,999 and sold for $495,000.  This is the only measure we have of recent Arista Series value to compare to last report and last year.  In both those comparisons, the value is down, nearly 11% for the former, over 6.5% for the latter.  As I said, this Canterbury is not typical of what most Arista homes in the neighborhood offer, so don’t worry that your home just lost a bunch of value.  It didn’t.  Experienced agents like me know better than to pull that home sale as a comp for your Arista home if you have three finished levels.

Braemar Property Value Report:  July-August 2016 (Arista Series)

There are some other takeaways from this report with respect to marketing time and closing cost help.  If you placed your Arista Series home on the market, priced to current conditions, this sale indicates it could take about a month and a half for you to go under contract.  The best news is that you may end up with a buyer that doesn’t need closing cost help at all.

Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037The next Braemar Property Value Report will be out in November and will detail sales information from September and October.   Until then, when you are ready to sell your Braemar home, give me a call.  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.comwww.UncompromisingValues.com

 

Statistics compiled using MRIS (Metropolitan Regional Information Systems.)