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

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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

Braemar Property Value Report: September-October 2017 (Carriage Series)

Braemar Property Value Report: September-October 2017 (Carriage Series)

The holiday decorations are popping up all over Braemar.  This is my favorite time of the year in Braemar.  Of course, this is the time of year my husband I fell in love with Braemar.  We were checking out the neighborhood one holiday night and were driving around Iona Sound.  The Carriage homes felt like homes you would find under a Christmas tree.  Still feel the same way today.  I love the Braemar Carriage homes.

This edition of the Braemar Property Value Report focuses on the sales of Carriage homes during the months of September and October.  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 three Braemar Carriage homes that sold during our reporting period.  The details for these three sales are below.

When we take these sales and put them into our rolling six and twelve month values, what we find is this:

The short term sold prices are higher than the long term sold prices.  That means values for Braemar Carriage homes are still increasing!   Closing costs are a little higher in the short term, and unfortunately, so is marketing time.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in about three weeks time.  You could also expect to pay about $5,000 in closing cost help to your buyer.

The next Braemar Property Value Report will be out in the new year.  Until then, when you are ready to sell your Braemar Carriage home, give me a call for a listing agent that is as knowledgeable as she is passionate about your home and 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: January-February 2017 (Carriage Series)

Braemar Property Value Report:  January-February 2017 (Carriage Series)

A rainy day in Bristow is a great time to sit down in front of my computer and tell
you all about the Braemar real estate market.
 It is Braemar Property Value Report time, after all.  And in this report, we are going to focus on sales in the first two months of the year in the Carriage Series.  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.

The last report, which covered the last two months of 2016, displayed a rare occurrence where absolutely no Braemar Carriage homes sold.  This reporting period we had one sale.  It was a five bedroom Parkdale model with three finished levels that listed and sold for $424,500.  It was under contract in only eight days and the sellers gave $4,000 in closing cost help.  So how does that compare with what’s been happening in the Braemar Carriage home market?  Well, the sales price of $424,500 is higher than all six month and twelve month average and median prices.

Just comparing the six month average and median sales prices with the twelve month average and median prices, we see that values for Braemar Carriage homes are trending up.  That’s a very good thing.  At the same time, the six month numbers for closing cost assistance are lower than the twelve month numbers.  Another good indicator.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in seven to twenty-two days time.  Probably on the lower side if we continue to have this shortage of homes for sale and high buyer demand.  You could also expect that a buyer will request some closing cost help.  In the ball park of $4,000 seems to be the most likely case.

The next Braemar Property Value Report will be out in May and will cover the months of March and April.  In the meantime, when you are ready for a more specific analysis of your home’s worth in the market, give me a call.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland

 Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

Braemar Carriage Home Under Contract in One Day!

Braemar Carriage Home Under Contract in One Day!

9758 Tombreck Court went under contract in 4 days!!

It was just the other day that I told you about 9758 Tombreck Court, which hit the market on Valentine’s Day priced at $420,000.  Having listed 9450 Cromarty Court earlier in this month, I knew we were going to see a ton of traffic.  It was the four offers that rolled in within twenty-four hours of being listed that had me floored.  The biggest traffic days tend to be Friday, Saturday and Sunday.  We listed on a TUESDAY!

If there was ever a time to list to get maximum exposure to buyers and very little competiton, this is it.  

This one will go to settlement in mid-March, so stay tuned for the final sales price.  In the meantime, if you are ready to move up, down or out and need to sell, give me a call. Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037 Since 2005, No One Knows Braemar Better!

Chris Ann Cleland

 Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com