Maplewood Carriage Home in Braemar Just Sold for a Record High Price

What an honor it was to list 9477 Cromarty Court. Walking in to the listing appointment I knew I had a gem on my hands, which was going to be immensely helpful. Being a Maplewood model carriage home, it is the smallest square footage one could have in Braemar and still be considered a single family home. The sellers were all too aware of the very limited living space and had made some very wise renovations to the home to give what is essentially a detached townhouse, a roomier feel. One of my favorite renovations was the removal of a cabinet to open up the galley kitchen to the family room. They also added a live edge cherry breakfast bar so the breakfast nook could be more open space.

The thing that would make buyers fall in love and make the limited space work was going to be the lot. It was the only unobstructed water view in the neighborhood.

This charming home, with farmhouse decor throughout, hit the market on April 22nd priced at $584,000. The market around us was on fire. The original list price was going to be a tad lower. After watching the activity on Cromarty with a couple other listings, we upped the price before hitting the MLS as a Coming Soon listing.

The very first day on the market the first buyers through made an appointment. An offer was in my email within hours of that showing. With the sellers out of town and an offer deadline set for Monday, April 25th, that offer survived competiting with five additional offers. And today, those very happy buyers were able to close the deal on this gorgeous home. The final sold price was $620,000. That is a new record sold price for a Maplewood model in Braemar….EVER. The closest before this was one in February (just a few months ago) that sold for $576,000.

Did the highest offer win in the multiple offer situation? No. It is not always how high someone will bid, but how much of a low appraisal guarantee they can swallow if the home doesn’t appraise. In the case of the winning buyers, their offer was $10,000 lower than a competing offer, but they offered $50,000 more in a low appraisal coverage than those buyers did. That meant, not matter what, the home would sell for $620,000. With the highest sold price to date at $576,000, a low appraisal was a real concern. As it turns out, it happened not to be a concern. I make sure to arm appraisers with as much information as a I can even when appraisal is something a buyer will deal with in the event of a low outcome. It’s not a win, if it’s not a win for everyone.

At the closing table, it was obvious that the new owners are going to love the natural surroundings by this pond as much as the sellers did. There was talk of turtle eggs that will be hatching by the pond and a birds nest where eggs are found every season. The new buyers were delighting in hearing of their new outdoor neighbors.

It was a smooth road to closing with zero bumps in the road. Best of all, my sellers gave me a closing gift that made me smile from ear to ear.

The sellers had been receiving my Braemar Property Value Reports for years and that is why they chose to list with me. The fact that they gave me this personalized Yeti mug could not have been a better compliment. Now I’ll be taking this coffee mug with me to listing appointments in the neighborhood and letting folks know that sellers that hit a record high sold price for a Maplewoood gave it to me. Let me know if I can be of assistance to 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
www.ChrisAnnCleland.com

Braemar Property Value Report: March-April 2022 (Carriage Series)

Braemar Property Value Report: March-April 2022 (Carriage Series)

Graduations and proms are the talk of social media. Spring has most definitely sprung. In this edition of the Braemar Property Value Report, we will look at how the Carriage home market is our neighborhood is doing against the back drop of sharp mortgage interest rate increases. If you are not familiar with what makes up a Carriage home in Braemar, they are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home, accessed by a private driveway off of the street, or off of a shared alley in the back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

There was only one Braemar Carriage home that sold during the current reporting period of March and April. Details are listed below.

Should you be concerned that there was only one Carriage home sale in the months of March and April? No. During that time period, I was pleased to list 9477 Cromarty Court. That gave me a first hand look at the activity for homes like these. The demand is out of control for affordable homes in our neighborhood. (Yes, affordable single family homes in 2022 are in the low to mid six hundred thousands.) If more Carriage homes had hit the market in the early part of the year, there would be more sales to report.

Taking a freshened up twelve months of Braemar Carriage home sales from May 2021 to April 2022, our six and twelve month data points are updated as follows:

The sold price column is looking very healthy and reflective of continued seller market conditions, despite rising mortgage interest rates. Both the six month average and six month median sold prices are substantially higher than their respective twelve month values. Braemar Carriage homes are definitely continuing to gain value in this market.

Seller subsidy is where we learn how much closing cost help buyers were able to negotiate from their Braemar sellers. The only number not at zero is the twelve month average seller subsidy. Two sales out of a total of sixteen in the past year’s worth of Braemar Carriage home sales gave closing cost help. One gave $12,500. The other gave $2,000. How do you avoid giving closing cost help as a seller? Make sure your home creates buyer enthusiasm so buyers must put their best foot forward to win amongst their competitors.

Days on market shows single digits down the line. Braemar Carriage homes are selling very quicky as buyer demand continues to outpace homes coming on the market.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in a week or less. You could also expect to give nothing in closing cost help if your home was properly prepared for the market and professionally marketed.

The next Braemar Property Value Report will be out in July. Until then, if you would like to take advantage of a home sale while the buyers are still outnumbering available inventory, get in touch with me for a no obligation consultation. No matter the market, my listing services start with preparation advice as far out as you want to discuss readying your home. Details matter. I also invest my sellers’ success with professional marketing. My Braemar sellers also get my unparalleled neighborhood knowledge, having called this neighborhood home and served the HOA for over seventeen years. 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
www.ChrisAnnCleland.com

The Braemar Carriage Home with a Water View is Now Under Contract

9477 Cromarty Court Listed on April 22, 2022 for $584,000

The Braemar Carriage Home with a Water View is Now Under Contract

The only carriage home in Braemar with a water view is now under contract. Yes, the Maplewood located at 9477 Cromarty Court, listed on April 22nd for $584,000 sure did spike a lot of interest. There were several buyers through the two open houses held during the weekend. Having hosted one of them, I can tell you the upgardes inside were as popular as the water view itself.

Ultimately, six buyers were bold enough to step and make offers on this lovely home. Every single offer was above list price. Not surprising when you have sellers that have left no detail unattended. The home showed like a shiny new penny.

Did the market give any indication of shifting during the three days that sellers allowed showings? None that I could tell. I have heard talk of a shift in buyer demand, but the sellers who do listing preparation and hire professional marketing agents are not noticing the slow down.

Tonight there are five disappointed buyers who will be looking for the next opportunity in the neighborhood. Will you be the next seller to hit the market with this experienced, top notch listing agent who knows Braemar like the back of her hand? If so, you are going to love the results when you heed the preparation advice given to increase buyer enthusiasm. Homes don’t have to have unobstructed, natural water views to get buyers excited. Get in touch today for your listing consultation. 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
www.ChrisAnnCleland.com

Braemar Property Value Report: January-February 2022 (Carriage Series)

Braemar Property Value Report: January-February 2022 (Carriage Series)

On a rainy, drizzly or foggy day, the Sounds of Freedom can be heard and felt in our neighborhood. I certainly wish I had been paying closer attention to the Howitzer training schedule at Quantico. Given current world events, when awoken from my slumber to the sound of mortars, I was uneasy. Thank goodness we don’t often have that much noise from the Marine base. Weather conditions have to be just right for that much noise to make it our way.

Turns out it is just another Thursday in our Braemar neighborhood and the real estate market is still trending up. Too many buyers for too few homes creates a great time to sell. In this edition of the Braemar Property Value Report the focus is on sales of Carriage homes in our neighborhood. Braemar Carriage homes are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home, accessed by a private driveway off of the street, or off of a shared alley in the back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

In this report, which covers only the first two months of 2022 for sales, only one Braemar Carriage home sold. Details are listed below:

Those are not typos in the list and sold price. This Maplewood, the smallest of the Carriage homes in our neighborhood, sold for $51,000 over list price. That is most certainly an attention getter. It gave no seller subsidy and was under contract in five days. Bear this in mind because the six and twelve month data points compiled from the entire past twelve months of Braemar Carriage home sales is not showing super strong trends for sellers. Our market the second half of 2021 was certainly not as crazed as the first half and that is playing into the six month data. Let’s take a look.

Starting in the sold price column we see the six month average sold price is slightly above the twelve month average. Meanwhile, the six month median sold price is below the twelve month median sold price. Contradictory information can be an indicator of shifting trends, but I don’t think that is the case here. As mentioned above, the second half of 2021 was not as frenzied as the first half. The second half of the year in regard to the Braemar Carriage home market was also three bedroom model heavy. Smaller homes selling may be skewing this data as well.

Seller subsidy is any closing cost help negotiated by buyers from their Braemar sellers. The six month average seller subsidy ticked up substantially compared to the twelve month average. Both the six and twelve month median values being at zero tell us that more than half of sellers in both time frames gave no seller subsidy. And with the recent sale giving none, it is safe to assume this trend will continue as more buyers compete for fewer homes.

Days on market shows us how long it took Braemar Carriage homes to go under contract. Both six month values are slightly longer than their respective twelve month values. However, even the highest number represented by this data is single digits. That trend is continuing as we move through the early months of 2022.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it be under contract in a week or less. You could also expect to have enough buyers competing for your listing that seller subsidy should be a non-factor. Buyers are back to waiving contingencies like home inspection and when possible, appraisal. Did I mention it is a great time to sell?

The next Braemar Property Value Report will be out in May. Until then, if you would like to see what a 2022 sales would mean for you, I am happy to have that conversation. Get in touch for a no obligation market analysis. Even in a seller’s market, my commitment to professional marketing creates undeniable buyer enthusiasm that leads to record setting prices. Who you hire to sell your home matters. After all, you only get one chance to liquidate your largest asset. Since 2005, No One Knows Braemar Bettter!

Chris Ann Cleland 
Associate Broker, Licensed in VA
Long & Foster Real Estate
703-402-0037, ChrisAnn@LNF.com
www.SellingBraemar.com
www.UncompromisingValues.com
www.ChrisAnnCleland.com

Braemar Property Value Report: November-December 2021 (Carriage Series)

Braemar Property Value Report: November-December 2021 (Carriage Series)

Happy New Year! I hope you all are enjoying the fresh start in 2022 and taking in some of the beauty the winter weather has brought. Snow can certainly be a pain, but I suggest enjoying the views while you can.

The New Year for this Braemar Real Estate Agent means getting a chance to wrap up 2021 with my Braemar Property Value Reports. Today I am bringing you the latest on Carriage homes in neighborhood. Braemar Carriage homes are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home, accessed by a private driveway off of the street, or off of a shared alley in the back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

In the last two months of 2021, there were two Braemar Carriage homes that sold. The details of those sales are listed below:

For homes that are very close to the same size, with same number of bedrooms and bathrooms and even basement finishes and exits, the final sold price difference is HUGE. Taking a virtual stroll through both listings, they were both professionally photographed and presented well online. What the Darnaway home had were some very specfic color choices on the walls, basic finishes throughout the ktichen and bathrooms and had no garage. However, it had an additional kitchen in the basement, making it a perfect in-law suite. Airedale ws updated throughout with not even a scrape of carpet on any floor. Top of the line finishes were used in the kitchen and owner’s bathroom. Furthermore, it was neutral throughout. Skipping listing preparation like painting and doing some modest flooring updates can leave money on the table. There should not be a $100,000 difference between these homes.

Taking these two sales and combining them with all the Braemar Carriage home sales from 2021, our six and twelve month data points are updated and continue to reflect a seller’s market.

Starting with the sold price column we see that both six month values are above their respective twelve month values. That’s good news. However, it should be noted that the rate of increase this report in the average is 2.7% and median is 1.8%. Last report, the average rate of value increase was 3.5% and the median rate of value increase was 4.5%. The second half of 2021 really cooled the all out buyer frenzy that had been happening since 2020, but that doesn’t mean that we aren’t still in a seller’s market. There is still not enough homes to meet buyer demand, but buyers are not going nuts when competing for homes now.

Seller subsidy is where we find out how much closing cost assistance Braemar Carriage home buyers were able to negotiate from their sellers. The six month average shows an increase in seller subsidy over the twelve month average. More importantly, the six and twelve month median values beiing at zero means that more than half of sellers in both time frames gave nothing in seller subsidy.

Days on market shows a one day uptick in marketing time in the both six month values compared to their respective twelve month values. Still, Braemar Carriage homes are going under contract in a matter of single digit days.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in about one week. You could also still reasonably expect to give nothing in seller subsidy if your home has created enough buyer enthusiasm to make it in demand enough for buyers to compete. With the cooling off of the buyer frenzy, you could also expect to see a home inspection contingency in whatever offer you accept.

The next Braemar Property Value Report will be out in March. Until then, if you are considering a move in 2022, it is never too early to consult with a local expert. My unparalleled neighborhood knowledge and professional marketing have been making my Braemar sellers the absolute max the market will allow for year. 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
www.ChrisAnnCleland.com

Braemar Property Value Report: November-December 2018 (Carriage Series)

Braemar Property Value Report: November-December 2018 (Carriage Series)

Even though most of the snow has melted, there are still chunks present in shady areas.  That’s why this Braemar Real Estate Agent went to a listing photo shoot this afternoon with a snow shovel in her trunk.  Snow is okay, but car exhaust colored snow is not.  There I was, scooping the dark gray snow off of the top of the mound still left on the median strip in front of the home.  That’s what a great listing agent will do. Something else a great listing agent will do will keep you updated on the property values in your neighborhood, and that’s the purpose of today’s Braemar Property Value Report.

This particular Braemar Property Value Report focuses on sales of Braemar Carriage homes during the last two months of 2018.  Before we begin, if you are wondering what differentiates a Braemar Carriage home from others in the neighborhood.  Braemar Carriage homes are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

There were two Braemar Carriage homes that sold during our current reporting period.  The details of those sales are listed below.

Taking these two most recent sales and combining them with the entire year’s worth of sales from 2018, gives us the opportunity to take a peek at the update six and twelve month data points.  This data gives us an idea what’s happening with values, seller subsidy and marketing time.

Let’s start by looking at sold prices.  The six month average sold price is slightly below the twelve month sold price.  Taken alone, that would be an indication that values were falling.  However, the six month median sold price is $50 higher than the twelve month median sold price.  That would indicate stable values.  For now, I’m calling our Braemar Carriage home values stable.

When it comes to seller subsidy (closing cost help to buyers,) we have a more definitive answer.  The six month average and median seller subsidy are both below the twelve month average and median seller subsidy.  That means Braemar Carriage home sellers have by and large been giving less closing cost help lately.

Days on the market is going to be a tricky one.  In mid-November, our region switched to a new MLS system that calculates this value differently.  It’s likely the two sales listed above, racked up higher days on market because of this new calculation.  Nonetheless, the six month average and median marketing times are both a bit longer than the twelve month average and median marketing times. . This would normally mean that it’s taking longer to sell Braemar Carriage homes, but we’re going to have inconclusive comparisons in this category until we’ve got one year’s worth of data from our new MLS…which means one year from now.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in about seven weeks.  I’m guessing that time will decrease as we are moving into our spring market.  You could also expect to give about 1% of the sales price in closing cost assistance to the buyer.

The next Braemar Property Value Report will be out in late March.  If you would like to sign up for electronic delivery of this report, which would include an attachment that is much like a financial statement you can save, email me at ChrisAnn@LNF.com.  And of course, when it is time to sell your Braemar Carriage home, call the Braemar Listing Agent with attention to detail and unrivaled experience in the neighborhood.  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: September-October 2018 (Carriage Series)

Braemar Property Value Report: September-October 2018 (Carriage Series)

Coming out of my turkey and gravy induced slumber from yesterday’s Thanksgiving feast, the last thing I want to do is wrestle with shoppers on Black Friday.  No sir.  I would make rather dive back into my routine as a Braemar Real Estate Agent.  When you love what you do, it never feels like work.  Today I will share you with you the latest Braemar Property Value Report for Carriage homes in our neighborhood.  Braemar Carriage homes are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

This particular reporting period covers the months of September and October, during which time we saw five sales of Braemar Carriage homes.  The details of those sales are detailed below:

When we take the data from these sales and update our six and twelve month values for Braemar Carriage homes, this is what we get:

When looking at the six month average and median sold prices compared to the twelve month average and median sold prices, we see that Braemar Carriage homes are still inching up in value.  That’s good to see.  In fact, all but one of the sales from the current reporting period fall above the six month average and median values.  All good indications.

When it comes to seller subsidy (closing cost assistance to buyers) the six month average and median compared to the twelve month values indicate that sellers have been giving less closing cost assistance.  Again, looking to our current reporting period sales, that is echoed above.  Three out of five sales gave zero seller subsidy.

Days on the market, or marketing time as I like to call it, is another story.  The six month figures are higher than the twelve month, particularly when it comes to median days on market.  Worse yet, the marketing time for the five sales in the current reporting period all took longer than the average and median values noted here.  This is an indication that the buyer demand for Braemar Carriage homes is not as hot as it was.  Values are holding their own and pushing up little by little, but it is taking longer for these homes to sell.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect your home to be under contract in at least a month.  If you looked at the most recent sales, it may take even longer.  You could also expect to pay about 1% or so of your sales price in closing cost help.  Then again, you may luck out like the three of the last five sales have and give nothing.

The Braemar Property Value Report will be out in January.  Until then, I wish you every happiness the holiday season has to offer.  And if you find yourself facing an off spring market sale of your Braemar home, give me a call.  I may be one of the only agents you will ever encounter in our market that can tell you about the secrets that make our year end market a strong one for sellers.  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

Highest Sold Price for a Parkdale Model Carriage Home Since 2007

Highest Sold Price for a Parkdale Model Carriage Home Since 2007

In early March, I had the pleasure of listing 10143 Broadsword Drive.  It was the thirteenth Parkdale I had listed in my career, the ninth located in our neighborhood of Braemar.  While I have seen a lot of well appointed Parkdales with granite counters, hardwood floors throughout, I had never seen one with a stacked stone fireplace.  Gorgeous!

Braemar has been experiencing a seller’s market, which means there aren’t enough homes to meet buyer demand.  These are the times when sellers can push higher than recent comps to set a new high.  However, my concerns were 1) this home backed to the power transmission lines which usually means an immediate reduction of value and 2) that all of the systems to the home were original.  Homes built around 2005 are likely to have new HVAC systems, and new roofs.  This one did not.  But what it did have in interior updates, this Top Braemar Listing Agent showcased to the fullest of my abilities.

While initially priced at $475,0000, a price reduction to $465,000 after nearly two weeks on the market was the right move.  Most of the feedback indicated this home was priced too high.  Meanwhile other Parkdales, none with power line adjacent lots and with newer systems, were still listed for less.  Would buyers see the privacy the power line lot offered?  Would they love the interior updates enough to forego new systems?

When the sellers got an offer late night on Saturday, March 31st, this Braemar Real Estate Agent was there reviewing it with the sellers after holiday festivities on Easter Sunday and we have a counter offer to the buyers that evening.  On April 2nd, that offer was ratified.  Part of the counter was settlement happening on May 31st to accommodate the sellers.  Another part was selling for the list price of $465,000.

When a seller turns up the heat at the offer negotiations, buyers turn up the heat come home inspection negotiations.  I’ve seen it time and again and it was no different with this sale.  It was really the appraisal that had the sellers and I concerned.  Getting a price you want for your home is one thing. Getting it to appraise is another.

One of my skills, as a top Braemar Listing Agent, is getting my listings to appraise.  The key is hand selecting comps and showing the appraiser why you picked them.  Understanding what comps meet the criteria for your subject is critical.  While I have an outstanding record of appraisal success (having only had one issue unresolved since 2010 when I got my broker’s license) even I had sweaty palms over this one.  Like Mary Lou Retton nailing the perfect 10 in the 1984 Summer Olympics, I pulled the equivalent in getting this Parkdale to appraise.

Today, this Braemar Carriage home sold for $465,000.  That’s the highest sales price for a Parkdale since March 2007.  

If you want a chance to set the next record high sales price in Braemar when you sell, 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

Just Sold: Two Finished Level Parkdale for $419,000

Just Sold: Two Finished Level Parkdale for $419,000

It has only happened twice so far in my real estate career that I have sold the same home twice, with two totally different sellers.  In October 2013 I sold 13802 Tartan Hills Parkway for $378,000.  At the time the home had two finished levels, was in need of new carpet and had basic finishes, no outdoor living space outside of the covered front porch and no exit in the finished basement.

Imagine my surprise when the new owners who purchased in 2013, called me to list 13802 Tartan Hills Parkway again.  Now, if I ran comparables like other agents, I may have come across the last Parkdale model with an unfinished basement with no exit and fairly basic condition (minus the hardwood flooring on the main level) that sold on Tombreck Court in September 2017 for just over $370,000 and declared that my sellers at Tartan Hills should list only slightly above that.  Thankfully, I don’t run comps that way.  Shoot, why would the home be worth about the same as it sold for in 2013?

When I first met the 2018 sellers of 13802 Tartan Hills, my comps told me that if they carpeted the home, painted and did some minor repairs, we could pull a lot more.  They had added a deck and put granite counters in the kitchen, and had a new roof installed after taking on storm damage since I last listed it in 2013.  But since the sellers didn’t have the funds for carpet throughout and a whole house paint job, we priced at $439,000 when we hit the market on February 21st.  When the market didn’t respond, the sellers reduced to $429,000.  Then again to $419,000.  That was the price where a buyer stepped and made a deal.

This four bedroom Parkdale on Tartan Hills, very much like that Tombreck Court that closed in September 2017, closed for $419,000.  Sure my sellers gave closing cost help to the tune of $12,000, making their net sold price $407,000, but it is a lot more than a bit over $370,000.  And I can tell you right now, the market hasn’t increased ten percent in six or seven months.

Hiring the right agent to list your Braemar carriage home can make all the difference to our bottom line.  And it starts with knowing how to analyze the market.  I won’t leave a penny on the table when it comes to representing my sellers.  When you are ready to sell your Braemar 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

Braemar Property Value Report: November-December 2017 (Carriage Series)

Braemar Property Value Report: November-December 2017 (Carriage Series)

Braemar is back in the freezer today, after a respite a few days ago where I actually turned on my A/C.  Of course, cold weather days are great days to at my desk, with a cup of coffee and tell you what’s happening the Braemar real estate market.  Today I’m going to catch you up on what happened in November and December with Braemar Carriage homes.  In case you don’t know what defines a Braemar Carriage home, they are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

There were four Braemar Carriage home sales in the last two months of 2017.  All of them were the smaller two models that Brookfield Homes offered in the Carriage Series.  Details of those sales are below:

Because we take these sales and throw them into the rolling six and twelve month average and median values, spikes and dips in values when we do have larger or smaller homes making up the majority of one single report don’t swing our Braemar Carriage home value reporting wildly.  The short term (six month) average and median sold prices are higher than longer term (twelve month) sold prices.  That means that values of Braemar Carriage homes continue to push up.  Meanwhile, the short term seller subsidy (closing cost assistance) shows higher and lower values compared to the long term.  The average is slightly more in the short term, the median is a $1,000 less than the long term.  As for marketing time (DOM,) it is nearly identical in the short term and long term.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect your home to be under contract in one to three weeks.  You could also expect to pay out an average of about 1% of the sales price, or a little more, in closing cost help.

The next Braemar Property Value Report will be out in March.  Until then, if you want to know how these sales have affected your specific home’s value, give me a call.  Since 2005, No One Knows Braemar!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com