Braemar Property Value Report: July-August 2011 (Courtyard Series)

The real estate market in Braemar is strong.  Demand is outpacing supply in our overall community.  However, Braemar Courtyard homes do not always benefit from the buyer demand.  And to understand why, one must first understand the unique features of a Braemar Courtyard home that require a specific type of buyer.

A Braemar Courtyard home is a one of three different models that share a private courtyard driveway and have very small yards.  Models include the Arlington, Ballston and Clarendon.

Unlike last report (May-June 2011) there was only one resale in the Braemar Courtyard homes for the past two months.  It was a Ballston model that listed for $327,500 and sold for $305,000.  As the Listing Agent for the property I can tell you that the sale is not indicative of what every Braemar Courtyard home owner would face.  To read specifically about what made this sale different, click this link.  For the purposes of this report, its sales price for $305,000 becomes the new average market value for Braemar Courtyard homes.  That means a decrease of nearly 5% since last report and a decrease of over 14% since the same reporting period this time last year.

 

This report will indicate that if you placed your Braemar Courtyard home on the market, priced to current market conditions, you would have it under contract in about five months.  However, given the situation that surrounded this particular sale, I think applying the days on market to other Braemar Courtyard home sales would be inaccurate.  The same may also apply to the lack of closing cost assistance since this was a rare cash buyer.

The next Braemar Property Value Report will be out in November and will detail sales from September and October.  Hopefully we will have more than one sale to report at that time.  Until then, if you are contemplating putting your Braemar Courtyard home on the market, feel free to call for a free customized analysis of your specific home’s worth.  As a Braemar home owner and full-time Bristow real estate agent since 2005, and a Short Sale Specialist since 2007, I can help you get top dollar for your Braemar home no matter your equity position.  And remember, no one knows Braemar better!

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

703-402-0037, www.NVARealEstate.net, www.SpeakingOfHomes.net

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 Other Braemar Property Value posts for the period of July-August 2011:

Arista Series (large single family homes built by Brookfield Homes)

Carriage Series (smaller single family homes with detached garages, built by Brookfield Homes)

Heritage Series (mid-sized single family homes built by Brookfield Homes)

Townhouse Report (separated into garage and no garage categories)

Condo Quarterly (condos known as Barrhill at Inverness Village)

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Braemar Property Value Report: May-June 2011 (Heritage Series)

If it’s a hot day in Braemar, you can take refuge in one of the two community pools. And with temps in the 90’s most of July and August, I sure hope you’ll have time to enjoy some pool time.  Before you dive into the pool, let’s take a quick look at the Braemar real estate market.  This report will focus on the resale activity for Braemar Heritage Series homes for the months of May and June.


 In the event a bit confused about what Heritage Series homes in Braemar are…they are mid-sized single family homes, with attached two car garages and include in the following floor plans:  Exeter, Yardley, Zachary and Waverly.


Just like we saw last report (March-April 2011,) there were only two resales in the Heritage Series.  One Yardley and one Zachery.   The average of their sale prices give us our new average market value of $344,950.  That’s up over 5% since last report.  We’re still seeing a decrease in value of over 10% compared to this time last year, but it is nowhere near the near 30% year to year declines we’ve seen in recent year.  Braemar Heritage home values are coming back up.



If you placed your mid-sized Braemar home on the market, priced to current market conditions, you could expect your home to be under contract in less than two weeks.  You could also expect a Buyer to ask for an average of 2.3% of the sales price in closing cost help. 


The next Braemar Property Value Report will be out in September and will detail sales from July and August.  Until then, if you are thinking of placing your Braemar home on the market and want a more specific idea of your home’s value, I’d be happy to help.  As a full time Bristow real estate agent since 2005 and a Short Sale Agent since 2007, I can help you no matter what your equity position.  And remember, no one knows Braemar better!


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


703-402-0037, ChrisAnn@LNF.com, www.NVARealEstate.net, www.SpeakingofHomes.net



Braemar Property Value Report: May-June 2011 (Arista Series)

Summer is in full swing in BraemarWhat a great display of fireworks we saw on the Fourth of July in the neighborhood.  So with May and June behind us, it’s time to take a look back at the resale activity for the larger single family homes in Braemar, built by Brookfield Homes, known as the Arista Series.  An Arista Series home will be one of three floor plans:  Allister, Buckingham or Canterbury.

There were three resales during May and June; all Canterbury models.  Seems we’ve been adding one additional resale since the beginning of the year to each report.  It’s nice to see that these larger homes in Braemar in are moving again.  The average of these three sales brings the average market value for an Arista Series home in Braemar to $429,167.  That’s a 3% decrease in average market value since last report (March-April 2011.)  It is, however, nearly a 13% increase since this time last year.  That is very good news to see a year over year increase in value.

If you placed your Braemar Arista Series home on the market and priced it to current market conditions, this report indicates that you could have your home under contract in 79 days.  You could also expect a Buyer to request an average of nearly 1.5% of the sales price in closing cost help.  Nice to see that closing cost assistance number going down.  We’ll keep an eye on the average days on market. 

The next Braemar Property Value Report will be out in September and will detail resales from July and August.  Until then if you are thinking of selling your Braemar single family home, give me a call for a more specific evaluation of your home’s value.  As a Braemar resident and full time real estate agent since 2005, and a Short Sale Specialist since 2007, I can help you sell your Braemar home no matter what your equity position.  Remember, no one knows Braemar better!

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

703-402-0037, chrisann@LNF.com, www.NVARealEstate.net, www.SpeakingOfHomes.net

__________________________________________

Other Braemar Property Value Reports for the time period of May-June 2011:

Carriage Series (smaller single family homes with detached garages, built by Brookfield Homes)

Courtyard Series (executive style homes, five to a private entrance, built by Brookfield Homes)

Heritage Series (mid-sized single family homes built by Brookfield Homes)

Townhouse Report (townhouses separated into garage and no garage categories) 

Condo Quarterly (condos known as Barrhill at Inverness Village)

Braemar Property Value Report: March-April 2011 (Heritage Series)

Braemar residents have most certainly blown the dust off their lawn mowers by mid-May.  And with all the rain we’ve been seeing, I’m sure those mowers will be getting a work out.  Yes, the grass is going to be growing at a great pace after soaking up all that water.  Before we get too entrenched in our yard work or other chores, let’s take a look back at the resale market for Braemar Heritage Series homes for the months of March and April. 

In the event a bit confused about what Heritage Series homes in Braemar are…they are mid-sized single family homes, with attached two car garages and include in the following floor plans:  Exeter, Yardley, Zachary and Waverly.

Last report (January-February 2011,) we saw only one resale.  Well, we’ve doubled that this reporting period.  There were two Yardleys that sold, one with a finished basement, the other without.  The average of their sales prices gives us our new average market value for mid-sized single family homes in Braemar as $327,500.  That’s down a touch since last report by 0.8%.  The comparision to this same time frame last year, we see a more significant drop of 12%. 

If you placed your mid-sized Braemar single family home on the market, priced to current market conditions, you could expect your home to be under contract in about two months time.  You could also expect a Buyer to request an average of about 2.6% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in July.  Until then, you can always go to my website:  www.nvarealestate.net to see historical average values dating back to mid-2005.  Just click the link for the Braemar Property Value Report Online and scroll down until you see the Heritage Series. You can also check out my Braemar Blog for information specific to the community, real estate and otherwise.

Of course, if you are thinking of selling your Heritage Series home in Braemar, I’d be happy to put together a free, customized market analysis of your individual home’s worth.  Remember, no one knows Braemar better!

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

703-402-0037, chrisann@LNF.com

_____________________________

Other Braemar Property Value posts for the period of March-April 2011:

Arista Series (large single family homes built by Brookfield Homes)

Carriage Series (smaller single family homes with detached garages, built by Brookfield Homes)

Courtyard Series (executive style homes, five to a private entrance, built by Brookfield Homes)

Townhouse Report (townhouses separated into garage and no garage categories)