Braemar Reflection Quarterly: April-June 2019 (2nd Quarter)

Braemar Reflection Quarterly: April-June 2019 (2nd Quarter)

9684 Tarvie Circle sold for $444,000 on May 31, 2019.

Before my open house at 12849 Rannoch Forest this afternoon, this dedicated Braemar Real Estate Agent has put together the last of my quarterly property value reports.  Today you will learn what happened in the second quarter of 2019 in the world of Braemar Reflection Series homes.  If you aren’t familiar with what a Braemar Reflection home is, they are the semi-detached single family homes located off Tarvie Circle.  They are attached only at the rear load garage to one neighboring property.

Between April and June, there were two sales of Braemar Reflection homes.  I am very pleased to have listed and sold, for the second time, 9684 Tarvie Circle.  Because it was my listing, it is highlighted in pink in the detailed list below.

While my listing was not the highest sold price, for what it offered it sold for a very good price.  The high sold price of $492,500 included four finished levels.  My listing had two finished levels.  It also went under contract in less than a week.

Taking these two most recent sales and combining them with the entire twelve months worth of Reflection Series sales, our six and twelve month data points are updated as follows:

While the median sold price is unchanged from the twelve month value to the six month value, the average sold price has increased in the six month value compared to the twelve month value.  That means that these semi-detached homes in Braemar are still pushing up in value.  It may not be by leaps and bounds, but an increase is an increase.

A bigger change in the short term, compared to the long term, is a decrease in seller subsidy (closing cost assistance to buyers.)  The six month average and median seller subsidy values are both below their twelve month counterparts.  Being out in the Braemar real estate market helping buyers and sellers day in and day out, it is no surprise given the lack of inventory and high buyer demand, that buyers are having to temper their requests for closing cost help.  In the case of 9684 Tarvie, my sellers were able to offset the cost of that seller subsidy by increasing their sales price.  Not an unusual strategy when a buyer must have the closing cost help.

As you may recall, days on the market has undergone a change in how it is reported in our new MLS, which was adopted by the market in November.  Until we have a year’s worth of the new data, which will be the first report of 2020, these numbers are unreliable.  As presented, the increase of the six month days on market numbers compared to their twelve month counterparts, indicates that it is taking longer to sell a semi-detached home in Braemar.  That is simply not what I am experiencing.  It will be wonderful if our MLS would adopt the same stopping point for counting marketing time that our previous one did.  I won’t hold my breath.

If you placed your Braemar Reflection home on the market, priced to current conditions, within a month and half you would be under contract and well on your way to closing.  You could also reasonably expect to about 2% of the sales price in closing cost help.

The next Braemar Reflection Quarterly will be out in October.  Until then, when the sale of your Braemar semi-detached home is on the horizon, give me a call.  You only get one shot to maximize the profit from the sale of your home.  Since 2005, No One Knows 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

 

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Braemar Property Value Report: January-February 2019 (Ryan Homes)

Braemar Property Value Report: January-February 2019 (Ryan Homes)

Do you find yourself feeling invigorated by the spring sunshine, warmer temps and our deciduous landscape in Bristow coming back to life?  I know I do.  I’ve got even more to make your spirits soar, particularly if you own a home built by Ryan Homes in Braemar.

This edition of the Braemar Property Value Report focuses on the sales of Ryan Homes in the first two months of the year.  As it turns out, there were two Ryan Homes that sold.  Their sold prices, as you will see in the details below, are nearly $100,000 apart.  That’s what happens when you have a finished basement in a much larger home.

Taking these two most recent Ryan Home sales and combining them with the previous twelve months of data, we get new six and twelve month data points.

Let’s start by looking at the biggest concern every Braemar home seller has–price.  The six month average and median sold prices are both higher than the twelve month average and median sold prices.  This means Ryan Homes are going up in value in the most recent sales.

When it comes to seller subsidy (closing cost assistance to buyers), there isn’t a lot of change.  Buyers are still getting a little something in seller subsidy in their deals, but there are not any drastic increases happening here.

Finally, days on market does show a significant increase in marketing time, particularly when comparing the six month median days on market to the twelve month median days on market.  Don’t panic.  In November our region switched to a new MLS (multiple listing service) that stops counting days on market not when a home goes under contract, but when the contingencies in the contract are removed.  Not all that helpful when sellers want to know how long it’s going to take their homes to go under contract.  I suspect our new MLS will go back to stopping the days on market counter when a home goes under contract.  However, if they do not, we’ll need a year’s worth of data in the new system before we have an apples to apples comparison.

If you placed your Ryan Home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement within about six weeks.  You could also expect to sell out under 1% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in late May.  Until then, when the sale of your Braemar home is on the horizon, it is never to early to consult this top Braemar Listing Agent.  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 2012 (Heritage Series)

Braemar Property Value Report:  July-August 2012 (Heritage Series)

I think this is my favorite time of year to be a resident of Braemar.  The temps are just right.  Not too hot, not too cool.  And  the leaves will soon be changing.  Before we start to enjoy the fall season ahead, let’s take a look back at the Braemar real estate market for the last two months of summer, July & August.  We’ll look at the sales of Heritage Series homes in this report.  Heritage Series homes are mid-sized single family homes with two car attached garages including the following floor plans:  Exeter, Yardley, Zachery & Waverly. For the sake of comparisons, we’ll be looking back at last report (May-June 2012) and last year (July-August 2011.)

There were three Heritage Series homes that sold during July and August.  Two Yardley and one Waverly.  The high sold price was $448,000 and the low sold price was $409,900.  The average of all three sales gives us our new average market value for a Braemar Heritage Series home of $429,300.  That represents nearly a 1.5% increase since last report and nearly an 11% increase since last year.  That’s great news!

If you placed your Exeter, Yardley, Zachery or Waverly home on the market, priced to current market conditions, you could expect it be under contract in an average of just over two months.  You could also expect a buyer to ask for an average of just over 2% of the sales price in closing cost assistance.

The next Braemar Property Value Report will be out in November and will detail sales from the months of September and October.  Until, if you are interested in selling your Braemar home, call me for a free market analysis of your specific home’s value.  I’ve been a Braemar resident and full-time Bristow Real Estate Agent since 2005.  In 2007 I added the distinction of being a Short Sale Agent to my resume.  No matter what your equity I can help you get your Braemar home sold quickly and for the maximum amount of money.  And remember, no one knows Braemar better!

Chris Ann Cleland, Associate Broker-Licensed in VA, Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.comwww.NVARealEstate.netwww.SellingBraemar.com

 

Statistics compiled by Chris Ann Cleland, using the MRIS (Metropolitan Regional Information Systems.)