Braemar Property Value Report: January-February 2019 (Courtyard Series)

Braemar Property Value Report: January-February 2019 (Courtyard Series)

There has been quite a bit of activity in the Braemar Courtyard home market lately.  Some people may think that the first two months of the year are slow in our real estate market, but they probably don’t read my Braemar Property Value Report.

This edition of the Braemar Property Value Report focuses on what’s been happening in the Courtyard homes in our neighborhood.  Braemar Courtyard homes are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Ballston and Clarendon.

During the months of January and February, there were two Braemar Courtyard homes that sold.  Details of those sales are listed below.

Taking these two most recent sales and combining them with the entire last twelve months of Braemar Courtyard home sales, new six and twelve month data points are generated.  This is where we can tell if our market is favoring sellers, buyers or remaining stable.

Looking at sold prices, it is good to see the six month average sold price above the twelve the month sold price.  Meanwhile, the six month median and twelve month median sold prices are identical.  The report seems to indicate increasing values in the average sold price change and stability in the six month median sold price change.  Either way, it is not bad news for Braemar Courtyard home owners.

We see a definite trend when it comes to seller subsidy, also known as a closing cost assistance to buyers.  Both the six month average and median values are higher than the twelve month average and median values.  This means buyers in the market for Braemar Courtyard homes are in need of and requesting more money from the sellers to get into the deal.  If it can get padded into the sales price, as the sale that happened on February 15th did, that’s not a bad thing.

Finally we come to days on market, or as I like to call it, marketing time.  Before we even begin, remember that our MLS changed in November.  And the new MLS stops the marketing clock, not when  home goes under contract, but when the contingencies to the contract are removed.  This is going to make our data here unreliable until the new MLS, at the outcries of agents like me, change their reporting method or we get one year into this..  Not surprising, the marketing time is longer in both the six month average and median values compared to their twelve month counterparts.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement within one or two months.  You could also expect to pay about 1.5% to 2% in closing cost help to the buyer.

The next Braemar Property Value Report will be out in late May.  Until then, when you want to know what your specific Courtyard home is worth in today’s market, give me a call for a free market analysis and the low down on market conditions that are affecting it.  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: November-December 2018 (Courtyard Series)

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

My plan was to get this Braemar Property Value Report out a lot earlier today.  Yet, here I sit at near ten o’clock in the evening typing away.  The best laid plans go to the wayside when you have a sick kitty in the emergency vet.  He’s back home now and stressing over his e-collar, and I’m stressing over him stressing over it.  The logical side of my brain has decided that my stress is misplaced and it’s time to get this report done.  Yay!  A distraction.  Meanwhile, let me just say how wonderful it is that we have Artemis so close to home.

This is the Braemar Property Value Report for Courtyard homes in our neighborhood.   Braemar Courtyard homes are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Ballston and Clarendon.

During the last two months of 2018, there were three Braemar Courtyard homes that sold.  The details of those sales are listed below.

Taking these most recent Courtyard home sales, along with the last year’s worth of Braemar Courtyard home sales, I ran updated six and twelve month data points.  These are what tell us whether our market values are increasing, decreasing or stable.

Sold price is first and foremost to investigate.  The six month average sold price has fallen below the twelve month average sold price.  That is indicative of falling sold prices.  However, the six month median sold price has risen above the twelve month median sold price.  That indicates rising prices.  So which is it?   Slight differences in value in either direction is indicative of stability.

Seller subsidy (closing cost assistance to buyers) has a definite trend.  The six month average and median seller subsidy values are both well below the twelve month average and median values.  That means Braemar Courtyard home owners have been giving less closing cost assistance in the last six months.  Of course, all of the most recent sales have higher seller subsidy that the six month average and median.

Days on market, or marketing time as I like to call it, is one that also shows a definite trend, but I am not sure it is reliable.  In November our region switched to a new MLS system that calculates days on market differently than our former MLS.  As a result of the change, I expect to see marketing time increasing in the six month values as we move through the new year.  Not surprising, the days on market is the six month average and median are both longer than the twelve month average and median values.  Once we have apples to apples comparisons in marketing time, we’ll have more reliable data here.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement withing about two and a half months.  You could also expect to give an average of about 1% of the sales price in closing cost help.

The next Braemar Property Value will be out in late March.  Until then, you can sign up for email delivery of the hardcopy report, which you can save for your records, much like a financial statement.  Just send me an email at ChrisAnn@LNF.com.  Of course, when it is time to sell your Braemar Courtyard home, give me a call for a free market analysis of your specific home’s value.  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 (Courtyard Series)

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

A rainy Saturday, post Thanksgiving family gatherings, is a great opportunity for me to get another Braemar Property Value Report together for my fellow Braemarians.  Today’s report focuses on Courtyard home sales in September and October.  If you aren’t familiar with Braemar Courtyard homes, they are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Ballston and Clarendon.

As is sometimes the case, as Braemar Courtyard homes only number 142 homes in the entire Braemar community of over 2,800 homes, there were no sales in our current reporting period.  That doesn’t mean that we don’t have updated data.  Because I keep a rolling store of twelve months of data, I simply dropped the sales from last September and October and updated our six and twelve month data points.  Here’s what we find:

The six month average sold price has dipped below the twelve month average sold price.  That’s not great to see, but the six month median sold price is above the twelve month median sold price.  Hard to see a trend with contradictory information, so we’ll have to wait for more Braemar Courtyard homes to sell in our next report to see which way we are going.  For now, I would call this stable values.

The six and twelve month seller subsidy (closing cost assistance to buyers) is much lower in the six month average and median values compared to the twelve month counterparts.  That’s a great trend if  you are Braemar Courtyard home owner. Not so great if you are a prospective Braemar buyer.

When it comes to days on market, again we see data favoring Braemar Courtyard home owners.  The six month average and median days on market is lower than the twelve month average and median values.  That would indicate Braemar Courtyard homes have been selling faster in the last six months.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in a little over a week to two and a half weeks.  You could also expect to chip in a small amount of money to the buyer in seller subsidy.

The next Braemar Property Value Report will be out in January.  I know we will have some Braemar Courtyard home sales to share.  Until then, if you find yourself considering the sale of your Braemar Courtyard home, give me a call to find the benefits often overlooked in our year end market.  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: July-August 2018 (Courtyard Series)

Braemar Property Value Report: July-August 2018 (Courtyard Series)

Are you ready for another Braemar Property Value Report?  Well, ready or not, here we go.  This one details sales activity in for Braemar Courtyard homes during the months of July and August.  Braemar Courtyard homes are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Ballston and Clarendon.

There were four Braemar Courtyard homes that sold during this current reporting period.  That’s a lot of sales to report in the Courtyard home category.  Final sold prices ranged from $350,000 to $430,000.  Details of those sales are below.

The first thing you notice is that one of these sales, the one that closed for $350,000, is way out of line with the other sold prices.  Allow me to fill you in.  The home at 10022 Pentland Hills was a short sale in very poor condition.  It was hard to see the property for the all the trash piled throughout the home.  Sadly, someone was living in those conditions, making it all the more tragic.  It wasn’t a seller that was angry because they were about to lose their home.  As low as that sold price of $350,000 is, it could have been worse.  The property was listed for $300,000.  Better news is that someone purchased the home that will be able to bring it back up to inhabitable condition.  Finally, because we take these sales and put them in a rolling twelve month collection of Courtyard home sales, we won’t see a tremendous fall in value.  In fact, when we calculate those new six and twelve month data points, here is what we find:

While the six month average sold price has dipped slightly below that twelve month average sold price, the six month median sold price is sitting well above the twelve month median.  That’s a more reliable data point with our low $350,000 sale gumming up the averages.  Odds are we will likely never see a home in the condition of that low sold price again.  That means values of Braemar Courtyard homes are still pushing up.

The news gets better when we look at average and median seller subsidy (closing cost assistance to buyers.)  The six month average and median seller subsidy figures are both well below the twelve month average and median seller subsidy numbers.  That means sellers have been giving less closing cost assistance to buyers.

And the final sweet spot of news comes from the days on market column.  Here we find that marketing time in the six month average and median values has also reduced substantially from the twelve month average and median values.  This means Braemar Courtyard homes have also been selling faster.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in an average of no more than two weeks.  You could also expect to pay only 1% or less of the sales price in closing cost help to a buyer.

The next Braemar Property Value Report will be out in November.  Until then, give me a call when you are thinking of selling your Braemar home.  It is never too early to start talking to a Top Braemar Listing Agent like myself.  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 2017 (Courtyard Series)

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

It’s time for another Braemar Property Value Report.  This one features homes in the Courtyard Series.  At the moment I have a fantastic Braemar Courtyard home on the market at 10119 Orland Stone.  It’s listed for $417,000. Take a look and let me know what you think.

If you didn’t know, Courtyard homes are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Clarendon and Ballston.

There were three sales of Courtyard homes in Braemar in September and October.  The details of each sale are listed below:

When we take these sales and put them in with our rolling six and twelve month values, here is what we find:

The final sales prices in the short term figures are higher than those longer term figures.  That means values of Braemar Courtyard homes are up.  Closing cost assistance (seller subsidy) and marketing time are very stable.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in two to three weeks based on these figures.  You could also expect a buyer to request some closing cost help.

The next Braemar Property Value Report will be out in the New Year.  Until then, keep me in mind when you are ready to list your Braemar home.  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:  July-August 2017 (Courtyard Series)

Braemar Property Value Report:  July-August 2017 (Courtyard Series)

While the fall solstice may not be until September twenty-second this year, it
certainly felt like fall as soon as we entered September.  
The chill in the air reminds me of back to school time, even decades after graduating high school.  Even driving to a listing appointment this afternoon I noticed some early autumn leaves blowing around.  You may think fall is a slow time of year for Bristow real estate, but I’m here to tell you it is what I call our “second spring.”

Right now, we are going to look back at the last two months of summer in this Braemar Property Value Report.  Specifically, we’ll be focusing on what happened in the Courtyard homes in Braemar.   Courtyard homes are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Clarendon and Ballston.

During the months of July and August, there was only one Courtyard home in Braemar that sold.  Details of that sale are as follows:

When you take this sale and add to the running six and twelve data for Braemar Courtyard homes, the first thing you notice is that this sale is higher than the six month average and median sold prices.  That is great!  And with six month sold data being higher than the twelve month sold data, it means the value of Braemar Courtyard homes is pushing up.  You also notice in the six month values that marketing time is significantly reduced when compared to the twelve month values.  Another value that is down in the short term is seller subsidy (closing cost assistance to buyers.)  This is all great news for the Braemar Couryard home market.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in less than a week if demand holds up.  You could also expect that buyers may need, or want, a little bit of closing cost help.  As evidenced by the sale in August, you can build that seller subsidy in the sales price.

The next Braemar Property Value Report will be out in November.  Until then, if you want to know how current market conditions have affected your Braemar home’s value, give me at a call at 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

Braemar Property Value Report: March-April 2017 (Courtyard Series)

Braemar Property Value Report:  March-April 2017 (Courtyard Series)

Most days I wake up and pay no attention the weather report.  As I was getting ready to head to Wegman’s to put a few groceries, after placing a TOO LATE sign topper on a listing in Gainesville, I expected it to be sweltering.  I’m not really sure why.  I was pleasantly surprised to find it was in the low seventies on my thermostat.  Of course, with all the cloud cover Bristow has had lately, I’m not sure why I expected sweltering.  Maybe it’s because I’ve had my nose in the MLS looking at Braemar home sales during the months of March and April.

Today I am going to tell you about what’s happening with Braemar Courtyard home values.  Courtyard homes are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Clarendon and Ballston.

There were two Braemar Courtyard homes that sold between the beginning of March and end of April.  The high sold price was $415,000, just $5,000 over the other sale.  When you see the F/NE in basement, that means the basements were fully finished, but had no exit.  Amazingly, they were both under contract in only four days.  That’s unusual for Braemar Courtyard homes.

Both of these sold prices are at or above the six month and twelve month median and average figures.  That’s a good sign for Braemar Courtyard home values.  Even comparing the rolling six month average and median sold prices to the twelve month rolling values, we see that the more recent average and median figures are moving up from the yearly values.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in about a month’s time.  I know what you’re thinking.  I just told you these two most recent sales were under contract in four days.  Yeah.  I know.  But the six month average and median marketing times are probably more realiable for you to set your expectations.   You may also get away with not having to give any seller subsidy (closing cost assitance) to your buyer like these two sales as well, but you may get tapped for a little something like $2,600 or $3,000.

The next Braemar Property Value Report will be out in July and will detail sales from May and June.  Until then, when you are ready to  to sell, give me a call at 703-402-0037 for a free market analysis of  your Braemar home’s value.  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