Braemar Townhouse Report: July-August 2020

Braemar Townhouse Report: July-August 2020

It it time for another Braemar Townhouse Report, featuring sales of traditional three level townhouses with back yards in our neigbhorhood.  This particular report looks back to the months of July & August.  During that time, there were nine Braemar townhouses that sold.  Their final sold prices ranged from $330,000 to $385,000.  Details of each sale are listed below:

Taking these nine sales and combining them with the past entire twelve months of Braemar townhouse sales, the updated six and twelve month value points are updated as pictured below:

Starting with the sold price column, both the six month average and six month median sold prices are above their respective twelve month values.  This means Braemar townhouse values are continuing to rise.  No surprise in this intense seller’s market.

The seller subsidy column is where we find out how much closing cost help Braemar townhouse sellers are giving in their transactions.  For starters, it is great to see that the six month average seller subsidy is less than the twelve month average seller subsidy.  Sellers have been giving less closing cost help on average in the most recent sales.  Even better, the six month median seller is at zero, compared to the $2,500 value found in the twelve month median.  In the most recent sales, more than than half of Braemar sellers have given no closing cost help.

Finally we get to the days on market column.  Here we see slightly faster marketing times in the six month values compared to the already fast twelve month values.  Again, no surprise when you see the intense demand and lack of inventory in our market.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect to be under contract in a week or less.  If you had to give closing cost help, you could reasonably expect it would be a modest amount.  Better yet, you may have to give none.

The next Bramear Townhouse Report will be out in November.  Until then, if you find yourself needing to move up into a larger home, or relocate, know that our year end market is going to be extremely busy this year.  Better yet, we will have very little competition.  Give me a call to investigate what a year end sale would mean for you.  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 Townhouse Report: May-June 2020

Braemar Townhouse Report: May-June 2020

Bringing up the rear in the most recent batch of Braemar real estate market reports is the Braemar Townhouse Report.  This particular report covers the most recent sales of traditional three level Braemar townhouses with back yards in the months of May and June.

Between May 1st and June 30th, there were eight Braemar townhouses that sold.  Their final sold prices ranged from $300,000 to $374,000.  The details of each one are listed below.

Taking the most recent sales above and combining them and with the entire past twelve months of Braemar townhouse sales, our six and twelve month data points are updated as seen below.

Starting with everyone’s favorite first stop, the sold price column, we see that both the six month average and six month median sold prices are higher than their respective twelve month sold prices.  This means Braemar townhouses have continued to gain value.

The seller subsidy column is where we get to see, on average, how much closing cost assistance Braemar townhouse sellers have been giving to buyers.  It is no surprise to see both the six month seller subsidy value points lower than their twelve month counterparts.  In the current market, with such high demand and limited inventory, it is no surprise that closing cost requests by buyers are shrinking as they compete to have their offers accepted.

Finally, days on market reveals another trend consistent with a strong seller’s market.  Both the six month average and median marketing times are shorter than their twelve month counterparts.  Braemar townhouses are flying off the shelves.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in less than a week. You could also reasonably expect to pay 1% of the sales price or less in seller subsidy.

The next Braemar Townhouse Report will be out in September.  Until then, if you want to take advantage of the record setting sales prices in our neighborhood, give me a call.  My expertise is getting Braemar sellers top dollar for their home, no matter the market.  Sadly, even in a seller’s market, poor preparation and poor marketing can have sellers leaving money on the table.   That won’t happen with me.  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

 

 

Yet Another Braemar Townhouse SOLD

Yet Another Braemar Townhouse SOLD

Earlier this year, I sold 9619 Innerwick Place in Braemar.  It was a nice surprise when the neighbor at 9617 Innerwick Place called me to list her townhouse shortly before her end unit neighbor closed.  While I took the listing in early February, it didn’t hit the market until May.  The seller took the listing preparation notes that I had given her and got to work to get the maximum dollar amount for her home.  A quick discussion about selling “as-is” made her realize the work to ready the home was worth the money she would make.

On May 13th, this interior unit townhouse hit the market priced at $375,000.  It only took three days before multiple offers were there for the seller to review.  The one that she ratified went to settlement on June 29th.  It was a full price sale at $375,000 and the seller didn’t have to give any closing cost help.

Right now, despite the pandemic, the Bristow real estate market is hot.  Sellers are in control as there is more buyer demand than there are homes to sell them, particularly in properties that attract first time buyers.  If you have a Braemar townhouse you want to sell, give me a call to find out how I can get you top dollar while marketing your home with safety as a top priority.  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 Townhouse Report: March-April 2020

Braemar Townhouse Report: March-April 2020

Hard to believe that we are nearly in June.  Time flies, even when you are under a shelter-in-place order.  My goal is to always get my Braemar market reports out before the end of the odd numbered months.  There is no question I’m cutting that self-imposed deadline close by publishing this edition of the Braemar Townhouse Report on May 30th.

This particular Braemar Townhouse Report covers sales of traditional townhouses in Braemar during the months of March and April 2020.  For the purposes of this report, a traditional townhouse is one that is attached on the sides, is three levels and has a back yard.

During this current reporting period, there were fourteen Braemar townhouses that sold.  The details of these sales are listed below:

One of the first things you notice above is that the second sale listed is highlighted in pink. Whenever I personally list and sell a home, I highlight it for you to see that I do more than property reports.  I help a lot of Braemar home sellers.  In this particular sale, the sellers were on their second contract.  They had a higher price with no seller subsidy with their first buyer, but when you get someone who gives you exactly what you want, beware the home inspection.  It was over the top with requests.  So the sellers made an offer, but the buyer voided.   That left the sellers to go back to their back up offer.  Again, a higher offer than noted here, but appraisal had it coming it below the sales price offered.

Taking these fourteen Braemar townhouse sales and combining them with the entire past twelve months of sales, our six and twelve month data points are updated as seen below.

The sold price column looks great when you see that both the six month average and six month median sold prices are higher than their twelve month respective values.  This means Braemar townhouses are still gaining value.

In the seller subsidy column, we find more good news for Braemar townhouse owners that may be thinking of jumping into the market very soon.  Seller subsidy is also known as closing cost help to buyers.  Both the six month average and six month median values are below their respective twelve month values.  That means Braemar townhouses owners, on the whole, have been giving very little, if any, seller subsidy when entering contracts.

Finally, when it comes to days on market,  or marketing time as I like to call it, we see another great trend for Braemar townhouse sellers.  The six month average marketing time is 10 days shorter than the twelve month average marketing time.  The six month median marketing time (only 4 days) is 2 days shorter than the twelve month median marketing time.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in about a week.  You could also expect that you would give 1% of the sales price or less in seller subsidy.

The next Braemar Townhouse Report will be out in July.  Until then, know that our Braemar real estate market is as strong as ever.  Our buyer demand is not being met by the supply of homes, which means we are still experiencing seller market conditions.  If you want to sell, now is a great time to do it…pandemic and all.  Give me a call and I’ll be happy to talk with you about my marketing techniques and the new COVID showing precautions I’ve had my sellers put in place to remain safe while their home is on the market.  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

 

Are Braemar Townhouses Still Selling During the Pandemic?

Are Braemar Townhouses Still Selling During the Pandemic?

The overwhelming answer to that question is YES.  On May 13th (2020,) I introduced 9617 Innerwick Place to the market.  Priced at $375,000, it was a value for a Braemar garage townhouse.  It has an original roof, HVAC and carpet in need of replacement on the upper level.  However, the home owner did the preparation she could and got the home painted from top to bottom and cleaned.  And with a three level bumpout, fresh sod in the fenced back yard and a replaced patio, there was much to love about the home.

There were a total of thirteen showings during five days on the market.  In the end, the seller got to choose from multiple offers and was delighted with getting under contract so fast.  The obvious fear was that COVID would negatively impact our real estate market.  Clearly, it is not.

This one will close near the end of June.  Of course, I will keep you posted on final sold price.  Until then, if you need to sell your Braemar townhouse, don’t hesitate to call me.  There are a record number of jobs being created by the Micron expansion in Manassas and the workers are eating up our Braemar townhouses.  I can help you safely list and still get max profit.  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 Townhouse Report: January-February 2020

Braemar Townhouse Report: January-February 2020

While this is the last of my Braemar Property Reports, it is certainly not the last of my days of self-isolation thanks to COVID-19.  It has been unsettling to see empty store shelves and empty restaurant and gym parking lots when I am out on the rare day I need to run an errand. Still, as a daughter of an 88 year old mother with COPD, I am grateful to all that are doing their best to stay inside and practice social distancing.  It may not feel like you are making a difference, but you are.

Now to my specialty, presenting you with another Braemar Townhouse Report.  Townhouses, for the purposes of this report, are traditional townhouses with three levels and a back yard.  They may or may not have a garage.

There were eight Braemar townhouses that sold during our current reporting of January and February 2020.  Final sold prices ranged from $305,000 to $376,000.  The details of the sales are listed below:

Taking these eight sales and combining them with the entire last twelve months of Braemar townhouse sales, our six and twelve month data points are updated as follows:

Starting with the sold price column, it is great to see that both the six month average and six month median are above their respective twelve month values.  This means Braemar townhouses are still pushing up in value.

The seller subsidy column shows a trend not favoring sellers.  Both the six month average and six month median seller subsidy values are higher than their respective twelve month counterparts.  This means that Braemar buyers have been asking for, and receiving, more closing cost help.  However, according to our most recent sales listed above, half of Braemar townhouse sellers aren’t having to give any closing cost help.

In the days on market column, we see a bit of conflicting information.  The six month average marketing time is five days shorter than the twelve month average marketing time.  Meanwhile the six month median marketing time is one day longer than the twelve month median marketing time.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in no longer than two weeks.  You could also expect to pay an average of 1.5% of the sales price in seller subsidy.

This report would not be complete this particular go round without answering the big question on most prospective Braemar townhouse sellers’ minds.  Will the precautions taken to prevent the spread of COVID-19 affect our Braemar real estate market?  It would be foolish to think there wouldn’t be some sort of impact, but I don’t think it will be as noticeable.  Even before this virus, our supply of townhouses for sale was not enough to meet demand.  Surely, some buyers and sellers will pull out of the market for economical reasons or reasons of general fear.  However, there is still a big influence on our market demand.  The expansion of Micron in Manassas is adding thousands of jobs to our local area.  More jobs than Amazon brought to Virginia.  Relocating workers will need housing and they are buying in all kinds of price ranges.  And even during these times when we are to shelter in place, our Governor understand that real estate is an essential business.  I have been busy taking new listings and helping buyers these last couple weeks.

The next Braemar Townhouse Report will be out in May.  Until then, if the need or want to sell your Braemar townhouse arises, get in touch with me for the most thorough analysis of your home’s value and the most professional approach to marketing your home.  No matter the market condition, I am here to help you maximize your home’s value.  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

 

Just Sold: Three Bedroom, End Unit, Garage Townhouse in Braemar for $386,000

Just Sold: Three Bedroom, End Unit, Garage Townhouse in Braemar for $386,000

On January 23rd (2020,) I had the pleasure of introducing 9619 Innerwick Place to the market, priced at $384,900.   Being that there were NO Braemar townhouses on the market at that moment, I knew it would be a quick sale.  Three finished levels in a garage, end unit townhouse with three bedrooms, two full bathrooms, two powder rooms, a two level bump out, fenced back yard, deck, patio and hot tub hitting the market was like throwing chum in shark infested waters.  And the prep my sellers had done with refinishing their hardwood floors, installing new carpet and neutralizing the interior paint made it possible to increase their projected list price before we ever hit the market. Not surprisingly, my sellers had an offer the very first day.

Having one offer was great, but my sellers wanted to go through the first weekend,  have two open houses, THEN  see what they were being offered.  After fourteen showings and twenty-two buyers through the two open houses, they were left to review three offers.  There was one that stood out as highest and best, so they accepted it.  However, as I often caution sellers in this seller’s market, when a buyer gives you exactly what you want with higher price and no closing cost help, home inspection can be a very painful point of renegotiation.  In the case of that first contract, that painful point of renegotiation ended up with a dead deal.

Just as sellers need to understand that buyers have expectations when they overshoot list price and don’t ask for closing cost help, buyers also need to understand that homes aren’t going to be rebuilt for them just because they were the highest offer.

Thankfully, the first offer was in back up offer position and the sellers were able to move seamlessly into the next deal.  It was a buyer with a need for a lot of closing cost help, FHA loan with a low down payment, but was grateful that they had finally gotten under contract.  The home inspection on the second deal was way more reasonable and kicked up very minor issues.

This townhouse went to closing today for a final sold price of $386,000.

When the time comes for you to sell your Braemar townhouse, hire wisely.  Having an Associate Broker with a decade plus of experience in many different market conditions will benefit you no matter what happens during your sale.  My expertise and commitment to top notch marketing, from staging to professional photography, will get you the absolute most the market will bear.  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 Townhouse Report: November-December 2019

Braemar Townhouse Report: November-December 2019

Bringing up the rear in latest editions of Braemar market reports is this Braemar Townhouse Report.  This particular report looks back to sales of traditional townhouses in Braemar during the months of November and December 2019.  Let’s get right to it.

There were six Braemar townhouses that sold during the last two months of 2019.  Their sold prices ranged from $315,000 to $385,000.  The details of each sale are listed below.

Combining all six of these sales with the entire year’s worth of Braemar townhouse sales from 2019, our six and twelve month data points are updated as follows:

Looking first at the sold price column, we see that the six month average is only fifteen dollars less than the twelve month average.  That would indicate stability in Braemar townhouse prices.  However, looking at the six month median sold price being three thousand higher than the twelve month median, we are left with information that Braemar townhouses are continuing to push up in value.  Having recently listed a Braemar townhouse, I can tell you that demand is there to keep prices going up.  We’ll see what our next report shows us.

Next up is the seller subsidy column.  Seller subsidy is also known as closing cost help to buyers.  Both the six month average and six month median seller subsidy values are above their respective twelve month values.  This means, in the more recent sales, Braemar townhouse buyers are asking for, and receiving, increasing amounts of closing cost help.

The last column is days on market, or as I like to call it, marketing time.  Here we see that marketing time has ticked up in the six month values compared to their twelve month counterparts.  I call tell you from recent listing experience, Braemar townhouses are in high demand.  I expect to see this number fall in our next report or two.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in no more than two to three weeks.  You could also expect to pay about 1.5% of the sales price in closing cost help.

The next Braemar Townhouse Report will be out in March.  Until then, if you have been waiting for the spring 2020 market to list, spring has already sprung.  Demand is there, but your competitors are not.  Now is the time to get going.  Give me a call and let’s talk price, timing and marketing to get you the absolute most the market will bear.  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 Townhouse: Under Contract in Four Days After Multiple Offers

Braemar Townhouse: Under Contract in Four Days After Multiple Offers

On January 23rd (2020) I was proud to present 9619 Innerwick Place to the market.  Priced at $384,900, this townhouse had a lot to offer buyers..and the market responded.  The first day, the sellers had an offer.  The second day, they had another offer.   The sellers had decided  to wait through the first weekend and two open houses before deciding on an offer.  By that time, there had been fourteen showings with agents and twenty-two buyers through the open houses.  That’s a lot of people looking for Braemar townhouses.  And right now, as I type this, there is not a Braemar townhouse on the market at all.  And in all of Bristow, there are only three townhouses on the market.

After three offers, the sellers went under contract with a very seller favorable offer.  Final details will be revealed when the sale closes in late February, so stay tuned for that.

In the meantime, if you have been thinking of selling your Braemar townhouse, there is no time like the present.  Buyers will gobble it up. Of course, the key to getting the top of the market price is listing prep and professional marketing.  Just click the property address above for the photos of this townhouse.  When you hire me to help you sell your Braemar home, that’s what you get.  No detail is overlooked, because there are dollars in the details.

Give me a call and let’s get started.  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 Townhouse Report: September-October 2019

Braemar Townhouse Report: September-October 2019

It is a good thing that I’m not an avid retail shopper.  If I were, being under the weather on Black Friday would be torture.  As it stands it is a rather convenient day for a Top Braemar Real Estate Agent to get sick because this is not a prime real estate day.  What it is a great day for is to share with you my latest Braemar Townhouse Report.  This one details the sales of traditional Braemar townhouses during the months of September and October.  And in case you were wondering, a traditional townhouse is one that has three levels, is attached only on the side (s) and has a slight backyard.

There were ten Braemar townhouses that sold during our current reporting period.  Sold prices ranged from $300,000 to $385,000.  The details of all ten sales are listed below:

Taking all of these sales and combining them with the entire past twelve months of Braemar townhouse sales, our six and twelve month data points are updated as follows:

Starting with sold prices, it is great to see that both the six month average and six month median sold prices are above their respective twelve month values.  This means that Braemar townhouse values are continuing to push up.

Unfortunately, we also see an across the board increase, though not dramatic, in the seller subsidy column.  Seller subsidy is closing cost help that sellers give buyers in a sale.  Both the six month average and six month median are higher than their respective twelve month values.  This means Braemar townhouse buyers have been asking for, and receiving, more closing cost help from sellers.

When it comes to days on the market, there has been no change in marketing time from the six month median to the twelve month median values.  Meanwhile, the six month marketing time is only one day shorter than the twelve month marketing time.  Braemar townhouses are selling as fast as they have been the last year.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to take no more than four weeks to go under contract.  You could also expect to pay about 1.5% of the sales price in closing cost help.

The next Braemar Townhouse Report will be out in January.  Until then, I wish you every happiness this holiday season.  Of course, if the need arises to sell your Braemar townhouse before the next report, don’t hesitate to call, text or email me. I sell homes for top dollar no matter the season.  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