Braemar Property Value Report: July-August 2019 (NV Homes)

Braemar Property Value Report: July-August 2019 (NV Homes)

This fall weather feels delightful.  Soon, we’ll see the brilliant oranges, reds and yellows as the leaves turn.  In the meantime, I have another Braemar Property Value Report to share with Braemar home owners.  This one focuses on homes built by NV Homes in our neighborhood and covers sales from the previous two months.

There were two NV Homes that sold between the beginning of July and end of August.  The details of those sales are listed below.

Taking these two sales and combining them with the entire last twelve months of NV Homes sales we get updated six and twelve month data points.  These will give an idea of trends in our NV Homes values.

Starting with the sold price values, we see that both the six month average and median sold prices are above their twelve month average and median counterparts.  It’s only by about $3,000 in each category, but an increase nonetheless.  This means NV Home values in Braemar are still inching up.

Seller subsidy, also known as closing cost assistance from sellers to buyers, does not reveal a good trend for would be NV Home sellers in Braemar.  Both the six month average and median seller subsidy values have increased from their twelve month respective values.  This means that buyers of NV Homes have been asking for, and receiving, higher amounts of closing cost help in the more recent sales.

Days on market, or marketing time as I like to call it, does have a slightly encouraging trend that favors sellers.  The six month average and median marketing times are both below the twelve month average and median marketing times.  Buyer demand and lack of inventory is lending itself to much quicker marketing times.

If you placed your NV Home on the market, priced to current values, you could expect to be under contract in about two weeks.  You could also expect to pay about 2% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in November.  Until then, if you worry that you may have missed the action of this spring’s and summer’s market, give me a call and I’ll share the surprises found in the year end 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

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Braemar Property Value Report: May-June 2019 (Arista Series)

Braemar Property Value Report: May-June 2019 (Arista Series)

The Braemar real estate market has been busy, busy, busy.  Low inventory and high buyer demand have been the hallmark of 2019.  Right now, we are going to specifically go over the happenings with regard to Arista Series homes in Braemar during the last two months.  Arista Series homes are among the largest homes in Braemar, built by Brookfield Homes.  The Arista Series homes are one of three floor plans:  Arista, Buckingham and Canterbury.

There were four Arista homes that sold in Braemar in the months of  May and June.  The details of those sales are listed below:

The sold prices ranged from $537,500 to $625,000.  The low sold price seems to be due in large part to an unfinished basement.  The remaining three all had finished basements to some degree.  The degree to which they were finished, and type of exit (walk out vs. walk up) seem to make a difference in their sold prices.

When we take these sales and combine with them with the entirety of the last twelve months of Arista home sales, we get new six and twelve month data points, which are pictured below.

Looking first at sold prices, the six month average sold price has dipped ever so slightly below the twelve month average.  It’s a little more than a $1,000 difference.  Certainly not enough to be concerned with, particularly when you see that the six month median sold price is $9,500 higher than the twelve month average.  Arista home prices are holding steady at worst, continuing to push up in value at best.  Either way, it is not bad news.

Seller subsidy is not a great trend in either the six month average or six month median numbers.  Both are above their twelve month counterparts.  This means that in the more recent sales, buyers are getting more closing cost help.

Finally, days on market.  Remember, our new MLS, adopted in November 2019, stops counting days on market at different points than our previous MLS.  This has resulted in higher marketing times in the more recent sales.  However, even given the difference, marketing time in both six month values is below the twelve month values.  It seems Braemar Arista homes are selling faster.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement in about five weeks.  You could also expect to give a little more than 1% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in September.  Until then, when the time is approaching to sell your Braemar home, give me a call for the most accurate market analysis and best marketing plan for your home.  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: January -February 2014 (Arista Series)

Braemar Property Value Report:  January -February 2014 (Arista Series)

Popular Canterbury Model in BraemarWhile it is only a matter of days before we are officially in the spring season, we continue to be pounded by snow in Braemar.  And on trash and recycle days!  As if we didn’t have a hard enough time cramming all of our recycle from one week into the bin, the pick up gets rescheduled or skipped when it snows on recycle day.  It’s a bummer.

We’re not here to talk about the weather, or how small our recycling bins feel.  The purpose of the Braemar Property Value Report is to detail sales of homes in Braemar.  This particular report concerns homes in the Arista Series by Brookfield Homes.  Those were the largest homes built by Brookfield and include the Allister, Buckingham and Canterbury models.

Braemar Property Value Report:  January-February 2014 (Arista Series)

Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037Unfortunately, there were no sales of any Arista Series homes during the first two months of 2014.  The last average property value we have for Braemar Arista Series homes is $515,000 from last report, covering the last two months of 2013.  And for now, that will have to do.  Certainly, given the recent activity I’ve seen in the Arista Series, I’d say we are in way better shape than last year.  We will just have to wait until next report to see where we stand.

Speaking of next report, the next Braemar Property Value Report will be out in May and will detail sales from March and April.  Until then, if you are thinking of 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.  I know our local market and how your home fits into it.  No One Knows Braemar Better!

And if you want to be a member of a neighborhood Facebook group that will always allow links to these reports, please join my new Braemar Facebook group.  You can start any neighborhood conversation you like to there, be it promoting your own local business or just chatting about neighborhood events.

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

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.comwww.NVARealEstate.net

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

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You can see the most recent property values in Braemar by clicking the links below:

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

Courtyard Series (executive style home, five to a private driveway, Brookfield Homes)

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

NV Homes (single family homes built by NV Homes)

Ryan Homes (single family homes built by Ryan Homes)

Townhouse Report (traditional townhouses with small back yards)

Condo Quarterly (townhouse style condos)

Canterbury in Braemar: Under Contract Before it Hit the MLS

Canterbury in Braemar:  Under Contract Before it Hit the MLS

Just when you think winter has had its last say, and spring is on the way, another load of snow dumps from the sky.  And I suppose there are some Braemar sellers that are waiting for the sure fire signs of springs, like green grass, budding trees, birds chirping and flowers blooming before they put their homes on the market.  I can tell  you this much, Braemar buyers aren’t waiting.

10204 Broadsword Drive in Braemar was under contract before it listed on March 1st (2014) for $525,000

The Sellers of this Canterbury model were set to hit the market on March 1st at $525,000.  The thought being that their home would show one of its finest features best when there wasn’t any snow on the deck and it wasn’t too cold to stand in the back yard.  Having a Brazilian Ipe hardwood deck and patio covered up by snow and ice is definitely not ideal.  But word has a way of circulating between agents about what listings they have coming up.  And that was the case with this one.  A Buyer’s Agent heard about it, asked when it was hitting the market, then asked politely for a sneak peak the week before that MLS list date.

Large Ipe Deck--10204 BroadswordThe Sellers accommodated the sneak peak with pleasure.  And the next day they had an offer in hand.  I can’t tell you the details.  What I can tell you is that the home was set to list for $525,000 and the offer was one that they felt was worth accepting prior to opening themselves up to the MLS.

Kitchen--10204 Broadsword

You might think that a For Sale By Owner would have been able to pull the same quick sale.  Not so.  What made this sneak peak a possibility was agents networking.  For Sale By Owners are not plugged in to the agents that work this market full-time.  Only other agents are.  And when you do this job full-time, it’s bound to become more than a job and more like a lifestyle.

Family Room--10204 Broadsword

Just so you know what lists at $525,000 in Braemar, this is a Canterbury with two finished levels and an unfinished walk up basement.  It has hardwoods throughout the main level, excluding the laundry and mud room.  It has an extra long garage and the family room extension. Kitchen upgrades include Corian counters, maple cabinets and a Butler’s Pantry with a wine rack, wine glass rails and hands free swinging door to formal dining room.  There is also a luxury master bathroom upstairs, adorned in ceramic tile.   The third bedroom has its very own attached full bathroom.   Another bedroom has private access to the second full bathroom and its own sink.  The fourth bedroom has hallway access to the second full bathroom.  The back of the home where the family room, kitchen, study and deck were located have a southern exposure for all day sun.

Master Bathroom has dual vanities, soaking tub and spearate shower--10204 Broadsword

Want to list your Braemar home?  Do it before everyone else does and take advantage of buyer demand before there is more competition.  Give me a call for a free market analysis and let’s get started.  No One Knows Braemar Better!

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

703-402-0037, ChrisAnn@LNF.com

 www.NVARealEstate.netwww.SellingBraemar.com