Braemar Property Value Report: January-February 2020 (Ryan Homes)

Braemar Property Value Report: January-February 2020 (Ryan Homes)

Another day in self-isolation, another Braemar Property Value Report to share with my fellow Braemar home owners.  No matter what is happening in our market, this Top Braemar Real Estate Agent is on the job.  This particular report focuses on property values of single family homes built by Ryan Homes in our neighborhood.  Let’s get to it.

Despite the fact that there were no Ryan Homes sold in the first two months of 2020, our current reporting period, the six and twelve month data points did get recast when the sales from January and February 2019 fell off and the six and twelve month markers shifted.  The latest value points are listed below.

In the sold column we have conflicting information.  The six month average sold price has fallen below the twelve month average sold price.  That would normally mean decreasing values.  However, the six month median sold price is above the twelve month median sold price.  That would normally mean increasing values.  We’ll have to wait and see what the next report brings.

The seller subsidy column, meanwhile, shows a definitive trend.  Both the six month average and six month median values are below their respective twelve month values.  This means that  in our competitive market place, where buyers are often competing for fewer homes, buyers are foregoing large closing cost requests, or not requesting closing cost help at all, to get under contract. Will this continue?  There is plenty demand despite the pandemic we are experiencing, but more on that later.

Days on market is a bit troubling.  Both the six month average and six month median marketing times are much higher than their twelve month respective values.  This means it has been taking longer to sell Ryan Homes.  Our next report should clear up what’s going on there.  It doesn’t match with what I’ve personally experienced as a Braemar Listing Agent in recent history.

If you placed your Ryan Home on the market, priced to current conditions, this report indicates you could expect it to be under contract in an average of about sixty days, maybe more.  You could also expect to give less than 1% of the sales price in closing cost help.

How will the unprecedented precautions being taken to prevent the spread of COVID-19 affect our real estate market?  It is hard to tell, but from where I sit as a full-time Bristow Real Estate Agent, I am still taking listings and helping buyers.  Properties are still going under contract.  Remember, there is a large demand for housing in our area thanks to the expansion of Micron in Manassas.  That expansion is adding more jobs in our back yard than Amazon relocating to Arlington did to our state.  Of course, we’ve already seen many Micron employees relocating here since the close of their Utah plant.   Some buyers and sellers not needing to be in the market at this time may pull back from fear, but we still have plenty of people relocating into the area, and enough relocating out of the area, to keep our market going.

If you find yourself needing to sell during this time, it has never been more important to work with a full-time, experienced professional who is in business in good times and uncertain times.  I’m here for you whenever the need arises.  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

What Better Thing to Do on a Gorgeous April Day than Sell a Braemar Home?

What Better Thing to Do on a Gorgeous April Day than Sell a Braemar Home?

12146 Millbill Court sold for $499,800 on April 16th, 2019.

On February 28th (2019,) I introduced 12146 Millbill Court to the market. It was priced at $495,800 and offered a near completely renovated home.  Everything but the siding and kitchen cabinets was new.   And the larger than average lot size for a Braemar home, sitting on a cul-de-sac street with a gorgeous tiered deck, well, I knew it was going to get eaten alive by the market.

Sure enough, after the first day on the market, two buyer agents had offers over to me. On the second day, as we were preparing to go over those offers, a third arrived.  The sellers had offers above list.  Buyers were offering free rent backs and having home inspections for informational purposes only.  It was definitely advantage seller.

The sellers didn’t chose the highest offer.  That offer had a home sale that needed to wrap up before closing on this one.  Instead, they made a modest counter to a full price offer they had received with no strings attached.  It offered a free two month rent back and home inspection for informational purposes.  (Take note buyers.  Sellers like certainty.)

On April 16th, this gorgeous home that will be a maintenance free zone for the new owners for likely a long time, closed for $499,800.  

What’s funny to me is that Mr. Seller was worried that they were listing too soon.  He was concerned the grass wasn’t green enough and the flowers weren’t blooming.  A very wise real estate agent (ME) told him that those things didn’t matter.  The green he was going to love was the green he was going to get from selling quickly.  The early spring market has been amazing for Braemar sellers.

There is still very high demand for Braemar single family homes.   Just got another under contract this Sunday after multiple offers.   And another yesterday with multiple offers than I just haven’t had time to tell you about just yet.  Have one you want to sell?  Give me a call and let’s get going.  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 Reflection Quarterly: January-March 2018 (1st Quarter)

Braemar Reflection Quarterly: January-March 2018 (1st Quarter)

It’s a good feeling of accomplishment to be typing up the last of my Braemar Quarterly market reports before we are more than a third of the way through the second quarter.  This last report for the first quarter of 2018 is focused on sales of the Reflection Series homes in Braemar.  These homes are located on Tarvie Circle and are single family properties attached to another home at the rear load garage only.

In the first three months of the year, there was only one Braemar Reflection home that sold.  The details are listed below.

Being a four finished level home, selling at $465,000, this sale is probably the highest I’ve seen on Tarvie Circle in a long time.  When we take this sale and combine it with the other Reflection home sales from the second, third and fourth quarters last year, we have a full year’s worth of data.  Parsing that data into six and twelve month values gives us a very good feel for what’s happening with Braemar Reflection home values.

The six month average and median sold prices are the same as the twelve month average and median sold prices.  That’s partially because we only had three sales for the entire year’s worth of data and two for the six month figures.  The differences are noticed in the increase in average and median seller subsidy in the short-term, compared to the longer term.  And in the longer marketing time in the short-term.

If you placed your Braemar Reflection home on the market, priced to current conditions, you could expect it to be under contract in about six months.  Honestly, given our lack of inventory compared to increased buyer demand so far this year, it would likely be faster.  You could also expect to pay about 1.5% of the sales price in seller subsidy (closing cost assistance.)

The next Braemar Reflection Quarterly will be out in July .  Until then, if you want to know how much your specific home is worth in today’s Braemar marketplace, 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: 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