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

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

Another gorgeous fall day is upon us and I couldn’t be happier.  Today is property photo shoot day for a remodeled townhouse listing I have coming up.  And hopefully, tomorrow will be just as lovely for photos of an upcoming Braemar Piggyback townhouse that will also be hitting the market at the end of the week.

Before I head out for the days work errands, I figured I had time to get this Braemar Property Value Report out to you.  This particular report focuses on sales of single family homes built by Ryan Homes between July and August.  Let’s get right to it.

There were four Ryan Homes in Braemar that sold in our current reporting period.  I am so happy to have had one of those sales with sellers that listened to every bit of listing prep and reaped the rewards.  That sale highlighted below in pink.  For an older home with no exit in the basement, they got a great price and before they ever hit the market.  Here’s a list of all the Ryan Home sales during July and August.

Taking these four sales and combining them with the previous twelve months of Ryan Home sales, we get updated six and twelve month data points.  They are listed below:

Starting with the sold price category, we see that the six month average sold price is much higher than the twelve month average sold price.  When it comes to comparing the six month median to the twelve month median sold price, we still see an increase in value in the short term, but not as drastic as the average.  Either way, Ryan Homes are still increasing in value.

Unfortunately, another place where we see an increase is in seller subsidy, also known as closing cost help to buyers.  The six month average is a bit higher than the twelve month average seller subsidy.  However, the six month median seller subsidy is substantially higher than the twelve month median.  Buyers are requesting, and receiving more closing cost help in more recent sales.  My sellers at Hopper Lane were very fortunate to only have to give $200 as a repair credit.

Marketing time shows a trend sellers will love.  Both the six month average and median marketing times are below their respective twelve month counterparts.  This means Ryan Homes in Braemar are selling faster than they have been.

The next Braemar Property Value Report will be out in November.  Until then, if you fear you may have missed the top of the market this past spring with all the talk of recession, give me a call and let’s talk about what’s happening in our Braemar real estate 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: 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

Braemar Property Value Report: July-August 2019 (Heritage Series)

Braemar Property Value Report: July-August 2019 (Heritage Series)

What’s not to love about a gorgeous fall afternoon?  At least I got to enjoy a bit of it before landing at my desk and typing up the latest Braemar Property Value Report.  This report focuses on the sales activity from July to August in the Heritage Series.  Heritage Series homes are mid-sized single family homes, built by Brookfield Homes.  They have two car attached garages and include the following floor plans:  Exeter, Yardley, Zachery (a.k.a. Zurich) & Waverly.  The homes built by Coscan in Braemar North Gate are also included in this group, as they are similar in size.

There were two Braemar Heritage homes on that sold in the last two months.  Those sales are detailed below:

While most of my business is listing homes, there is about 25% of that comes from representing buyers.  The reason the sale on Noltland Castle is highlighted in blue is that I represented the buyer on that sale.  Listings that I sell that end up in this report are highlighted in pink.  I was delighted to get such a great deal on Noltland Castle for my buyers.  I had just sold a Waverly on Naughton Court for $536,000, which was better in the kitchen, but less in that it had one less full bathroom and it did not have an exit from the basement.  So if you ask me, my buyers got a great deal.  It certainly pays to have me on the listing side.

Taking these two sales and putting them with the last twelve months of Braemar Heritage home sales, we get updated six and twelve month data points.  Here’s what they are right now:

Looking first at sold prices, we see both the six month average and median sold prices are above their respective twelve month sold prices.  This means values of Heritage homes in Braemar is still inching up.  For how much longer?  I wish I had that crystal ball, but agents in the market can feel a shift coming.

Seller subsidy (a.k.a. closing cost help to buyers) is unchanged in the six month median compared to the twelve month median at zero.  Meanwhile, the six month average seller subsidy fell 10% below the twelve month average seller subsidy.  Buyers have been requesting less closing cost help to get under contract in the seller’s market we have been experiencing.

Days on market, or marketing time as I like to call it, shows a decrease in the six month values compared to their twelve month counterparts.  This means that Braemar Heritage homes have been selling even faster.

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect it to be under contract in about a week.  You could also expect to pay an average of about 1/2% of the sales price in closing cost help to your buyer.

The next Braemar Property Value Report will be out in November.  Until then, if you are concerned about the talk you are hearing of impending recession, but were thinking of selling, call me to find out why the fall market is strong choice.  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:  Another Braemar Home Above List Price by Chris Ann Cleland

Just Sold:  Another Braemar Home Above List Price by Chris Ann Cleland

10024 Naughton Court in Bristow went under contract in 1 Day.

It all began about two years go.  Yep.  Two years ago.  That’s when the seller of this Waverly model in Braemar, located at 10024 Naughton Court, first reached out for me to give her an idea of what she would need to do to get her house ready for market.  She knew that there was a lot of updating that needed to be done and knew that she wouldn’t be able to do it over the course of a few months.  So we met and talked about what buyers expect when they are buying a home in Braemar.  Updated kitchens, new carpet, fresh paint and sometimes updated bathrooms.  Wanting the top of the market, the seller got to work over those two years.

Kitchen/Breakfast Nook

The kitchen was remodeled with granite counters, a gorgeous tile back splash and stainless steel appliances.  The white cabinets were also given updates to make them fresh again.  The basement flooring was replaced with luxury vinyl plank.  The master bathroom got a fresh face of ceramic tile and new fixtures.  And windows and doors in need of replacement were taken care of.  Even the exterior light fixtures were changed from the worn out brass to an oiled bronze.   The result was definitely a crowd pleaser.

Master Bathroom

Ideally the seller wanted to move in June, so her thought process was to list in late May and accommodate that.  We talked about the current state of the market in early 2019 and I counseled her that April was a better choice if she could do it.  Buyers were knocking themselves out to get Braemar homes, offering longer settlement dates and rent backs.  No real estate agent has a crystal ball, but who knew what would happen as we got closer to school being out and summer.  Past years indicated we could expect more homes flooding to market and longer marketing times as buyers were more interested in summer vacations.  So the seller listened to her experienced Braemar Listing Agent and put the home on the market April 13th.  Sure enough, within one day she had two offers both above her list price of $529,000 and both accommodating her desired settlement date in mid June.

Family Room, where a recliner was moved for the best picture.

On June 17th, this Waverly model in Braemar sold for $536,000.  The seller had to give no closing cost assistance and had a smooth transaction from start to finish with her buyers.  The only real kerfuffle in the deal was done at the hands of the Braemar covenants inspector.  Having the ear of our portfolio and general managers on-site, I was able to remediate one of the issues with a simple phone call.  A little common sense goes a long way.

When the time to sell your Braemar home is looming on the horizon, don’t think you are asking too much to meet with your listing agent well in advance.  The best agents in the business understand that it is never too early to get professional advice on updating your home.  And my knowledge of our neighborhood real estate market is a skill I hone daily.  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

 

Under Contract Before It Ever Hit the Market!

Under Contract Before It Ever Hit the Market!

This year the Braemar, and surrounding Bristow-Gainesville real estate market is on fire.  Sellers are loving short marketing periods, but buyers are feeling the frustration of being in multiple offer situations and losing out on houses before they ever got a chance to see them.  In this market, the buyer’s agent you hire makes a HUGE difference.  If they are well connected and well respected in the industry, you are far more likely to have success landing previews of Braemar homes before they hit the market.  This is one of those cases.

It was at the last Braemar Annual Board Meeting that I first meet one of the home owners of 12171 Hopper Lane.  As soon as he introduced himself to me I recognized the name immediately.  He had reached out to me online for information on prepping his Braemar home for sale a few weeks earlier.  I remember the conversation we had about what level of prep he had to do.  While I give generic advice, the best advice comes once I have seen your home.

While no seller is thrilled at the things that need to be done to get top dollar for your home, getting them done makes a huge difference.  De-cluttering, painting a neutral shade and installing new carpet are usually the biggest impacts.  In this case, those three things, along with a new kitchen light fixture, some gussying up of the front sidewalk,  a new range hood  and some staging and the home was ready for pictures.  Then, through the power of networking, a well known agent among Braemar listing agents texted.  She had a desperate buyer and heard I had some properties coming up.  That night, we arranged showings of both.  While one was too small, this one fit like a glove.

The buyer made the sellers an offer they could not refuse.  About six hours after the professional photo shoot, and the day before it hit the market, the sellers were signing the offer.  While the sellers could have hit the market as planned and seen a flurry of activity and multiple offers, odds were strong that the offer they got was still going to be the best.  Accepting it was what the sellers chose to do.

You should take a look at the virtual tour for 12171 Hopper Lane.  Of particular interest to me was the solar tube installed in the second bathroom, making that windowless room come alive with light.  These sellers could now give lessons on de-personalizing a home and getting it ready for market. They also did a phenomenal job of updating the things that often go unnoticed like windows, roof, HVAC, appliances…you name it.

When you are ready to sell your Braemar home, or buy one for that matter, having a well respected and well connected agent on your side makes all the difference.  You know my motto.  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: Semi-Detached Single Family Home in Braemar

Just Sold: Semi-Detached Single Family Home in Braemar

9684 Tarvie Circle sold for $444,000 on May 31, 2019.

It’s always a great feeling to sell a home for a Braemar seller, and have the buyer that purchased it come back and hire you to sell it again.  As a matter of business practice, I will not practice dual agency, which is where I would represent both sides of a transaction.  No matter what happens, even if a relative wants to buy my listing, I refer the buyer to another agent.  My business practice as a Top Braemar Listing Agents is to stick with my sellers.  So when these buyers that have hired me to sell the homes they purchased as my listings, it is an honor.

In the case of 9684 Tarvie Circle, it was a particularly great feeling because the seller was a licensed real estate agent, whose license was on referral.  Did she know a lot of other agents?  Yes!  Did she have agents that were former business associates she had worked with?  Yes! Yet she called me to sell her Braemar home.  Why?  Because she knows my reputation in the neighborhood and my sales record.  She knew I would get it done right and for top dollar.

Kitchen, 9684 Tarvie

The property had been improved since the owner purchased it in 2016 for $404,000.  The powder room had been completely renovated to feature a floor to ceiling tiled accent wall.  The kitchen was looking great with the new granite counters.  And the modern touch of the ship-lap accent wall in the family room, along with updated light fixtures and brand new carpet on the upper level, took years of this home’s appearance.  In addition to visually appealing updates, the home essentially got organ transplants with two new HVAC units.  Given the amount of updates, listing at $439,000 didn’t seem optimistic at all.  That much gain in less two and a half years is not typical, but these owners really did make the home shine.  If they had finished the basement, they could have listed for much more.

Ridiculous to have to prove those steps down were within the property lines with a survey.

One of the reasons that this seller chose me is my connection to the on-site management staff. Living in the neighborhood and serving on my sub-association board, I have developed relationships with the staff from CMC that allow me to help sellers solve HOA violations quickly.  In this case, there was no getting around the need to physically draw five steps down from the family room to the back yard on a survey of the yard.  When you make modifications to your Braemar home, you need to apply for them.  Rather than spending $350 on a survey to complete the application, thereby correcting the violation, I proposed a solution that made the need for the survey much cheaper for the seller, and very attractive for the buyer.  The seller and buyer split the cost of the survey.  Don’t get me started on why this process of drawing these steps that came about two and a half feet out from the back of the was even necessary.

Not surprisingly, this semi-detached home on Tarvie Circle had multiple offers after two days on the market.  It sold above list price for $444,000 on May 31st.

When the time comes to sell your Braemar home, give me a call for a consultation about the market and what you can expect in terms of price and how long it will take to sell.  Selling Braemar homes is my specialty.  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: March-April 2019 (Ryan Homes)

Braemar Property Value Report: March-April 2019 (Ryan Homes)

As I type this edition of the Braemar Property Value Report, featuring sales of houses in Braemar built by Ryan Homes, Memorial Day Weekend is coming to an end.  I hope everyone is out there enjoying every minute.  Back to work and school on Tuesday is definitely going to be a rude awakening for a lot of folks.  For me, I love what I do as a Top Braemar Real Estate Agent.  Going back to work is a pleasure.

So let’s get to this Braemar Property Value Report for Ryan Homes.  There was only one sale of a Ryan Home between March and April.  It was a Rosemont model for $499,000.  Details of the sale are listed below.

When combined with the entirety of the previous twelve months of Ryan Home sales in Braemar, the updated six and twelve month data points are as follows:

Starting with the six month average and median sold prices we see that both are above the respective twelve month values.  This means that Ryan Homes are still gaining value.

A trend not favorable to Ryan Home sellers in Braemar is found in the seller subsidy column.  The six month average seller subsidy (closing cost assistance to buyers) is just about doubled what it is when we look at the twelve month average.  That’s a big jump in the short term.  What tempers this increase is seeing that the six month median seller subsidy only went up by 50% compared to the twelve month median seller subsidy.  Whether or not a Braemar seller is going to find themselves in a position to give closing cost help to a buyer depends on the circumstances.  If buyer demand keeps up and inventory remains sparse, it is likely that seller subsidy will not be a huge factor for most Ryan Home sellers.

Days on market, or marketing time as I like to call it, is almost unchanged in the six month average compared to the twelve month average.  Meanwhile, the six and twelve month median marketing times are still at only seven days.  The six month average may even be lower.  As you recall, our MLS  changed to a new system in November last fall that calculates this figure differently.  When out on listing appointments, I actually calculate these figures by hand for the most accurate information.

If you placed your Ryan Home on the market, priced to current conditions, you could expect it to be under contract in as little as a week, or as much as five weeks or so.  You could also expect to give about 1% of the sales price in closing cost help, if any at all.

The next Braemar Property Value Report will be out in July.  Until then, when the need to sell your Braemar home arises, give me a call for the most accurate analysis of your home’s worth in our current 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