Braemar Property Value Report: January-February 2020 (Heritage Series)

Braemar Property Value Report: January-February 2020 (Heritage Series)

Another day of self-isolation presents another fantastic opportunity to present another Braemar Property Value Report.  Of course, whether we are living in times of self-isolation or business as usual, this Top Braemar Real Estate Agent strives to get these reports to you every other month to keep you apprised of your Braemar home values.

Today’s report is focused on Heritage homes in Braemar.  Heritage 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 five Heritage homes that sold during the current reporting period of January and February.  The details of those five sales are listed below:

Taking these five sales and adding them to the entire past twelve months of Braemar Heritage home sales, our updated six and twelve month data points are updated as shown below.

Looking first at the sold price column, we see a slight dip in both the six month average and median sold prices when compared to their twelve month respective values.  What gives me a bit of hope that this is not a trend is seeing that four of the five most recent sales are above both the six month values represented in the table.

Seller subsidy (closing cost help to buyers,) is trending up in the six month average and median values compared to their twelve month counterparts.  However, looking at the five most recent sales, two of the five gave no seller subsidy and one gave a lower amount to suggest it may have been a repair credit.  The remaining two gave very large amounts of seller subsidy.  These seller subsidy figures in our six month average and six month median values are still a lot lower than they could be.

Days on market shows increasing marketing times in the six month average and median values compared to their twelve month respective values.  And when looking to the five sales above, I am baffled by the thee sales above with 87 days to 140 days marketing time.  They were all regular sales, not foreclosures or short sales. They hit the market between July and September and all lowered their list prices before going under contract.  Someone unfamiliar with our market may look at these and think that the market is beginning to crash.  My experience as a Top Braemar Real Estate Agent gives me evidence over and over that marketing times like this should not be…at least not when you price your property correctly and marketing it professionally.  My most recent experience with a Braemar Heritage home at 12157 Millbill Court, backing to Linton Hall Road, was that my sellers got multiple offers during a few days on market.

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 month.  You could also expect to pay under 1% of the sales price, on average, in seller subsidy.

A note about the current market in the age of COVID-19 is in order.  What we are living through in terms of crisis management to this pandemic is unprecedented.  And despite the fear of the known and unknown in this time, sellers are still putting their homes on the market and buyers are still looking for homes.  It is important to remember that our local market is experiencing tremendous demand, and will continue to, as a result of the Micron expansion in Manassas.  It is bringing more jobs to our local area than Amazon did!

The next Braemar Property Value Report will be out in May.  Until then, when the need or desire to sell arises, give me a call for the most thorough market analysis of our market and your home’s value in it.  My professional marketing will get you the most money for your home no matter what the 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: November-December 2019 (NV Homes)

Braemar Property Value Report: November-December 2019 (NV Homes)

Happy Monday!  This happens to be my favorite day of the week.  Of course, back to work is the association most folks have with Monday, and it’s no different for me.  I just happen to love my job as a Top Braemar Real Estate Agent.

Today I’m going to share with you the latest Braemar Property Value Report, focused on sales of houses built by NV Homes.  This edition focuses on the sales activity of NV Homes during the months of November and December 2019.

There was only one NV Home that sold during the last two months of 2019.  It sold for $560,000 and the detail of that sale is listed below.

Taking this sale and adding it to the entire year’s worth of NV Home sales from 2019, our six and twelve month data points are updated to reveal the following:

Let’s start by examining the sold price column.  The first thing I notice when I look here is that the six month average sold price is higher than the twelve month average sold price.  That alone would an indication that NV Home prices continue to increase in the more recent sales.  Then I notice that the six month median sold price and the twelve month median sold price are exactly the same.  This alone would indicate NV Home values are steady.  Finally, looking at the most recent sale of a large, three finished level NV Home at $560,000, which is below all the median and average sold prices…well that concerns me.  We’ll have to wait and see what our next report shows for value, but I feel safe calling them stable for now.

When it comes to seller subsidy, we see a good seller favored trend when we see that the six month average seller subsidy (closing cost assistance to buyers) is quite a chunk of change lower than the twelve month average seller subsidy.  Then again, we see that the six month median and twelve month median seller subsidy values are exactly the same.  So what how does the most recent sale compare with seller subsidy.  It’s seller subsidy was higher than any of the above.  Again, we’ll have to wait and see what our trend is.  Right now, we’ve got mixed messages.

Looking at days on market (marketing time) there is a definite trend.  Both the six month average and six month median marketing times are longer than their respective twelve month counterparts.  Our most recent sale on Island Fog also shows this to be true.  While the length of time it is taking to go under contract has increased, it is still not anything troubling.

If you placed your NV Home on the market, priced to current conditions in Braemar, you could expect it to be under contract in about three weeks.  You could also expect to pay about 1% of the sales price, maybe a little more, in closing cost help to your buyer.

The next Braemar Property Value Report will be out in March.  Until then, if you have been thinking that the 2020 spring market may be your time to list, the time to act is now.  Real estate spring is happening NOW.  It always happens earlier than Mother Nature’s spring.  Demand is high and our supply is pitifully low.  Give me a call and let’s talk timing, price and marketing.  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 2019 (Heritage Series)

Braemar Property Value Report: November-December 2019 (Heritage Series)

We are well into first month of the New Year and that, to this Top Braemar Listing Agent, means it is time for another Braemar Property Value Report.  This particular edition focuses on sales of Heritage Series homes in our neighborhood between the months of November and December 2019.  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.

Let’s dive right in.  During the last two months of the previous year, there were three Heritage homes that sold.  Their final sold prices ranged from $425,000 to $524,900.  The details of those sales are listed below.

 

 

 

Taking these three sales and combining them with the full twelve months of sales from 2019, our six and twelve month data points are updated.  Those are listed below.

Looking at the sold price column first, both the six month average and six month median sold prices are above their respective twelve month values.  This means that the most recent six months of sales had Braemar Heritage home values continuing to push up in value.  What concerns me a bit is that the two of three most recent sales from November and December are well below all of these average and median values.  We’ll see what is revealed in our next report.

Next up in seller subsidy (closing cost assistance to buyers,) we see that both the six month average and median values are above their respective twelve month values.  This means that buyers have been asking for, and receiving, more closing cost help from sellers.  Even still, the six month average seller subsidy was still  low considering a buyer could ask for 3% of the sales price, or in some cases, more.

Finally, the days on market numbers are also higher in the six month average and median values compared to the respective twelve month values.  This means it’s been been taking a bit longer, on average, to get Heritage homes under contract.

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

The next Braemar Property Value Report will be out in March.  Until then, if you think the spring 2020 market is when you would like to sell, the time to get started is now.  Real estate spring happens a lot sooner than Mother Nature’s spring.  Give me a call and let’s about about pricing, timing and marketing.  Getting top dollar for your Braemar home is what I do best.  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: September-October 2019 (Ryan Homes)

Braemar Property Value Report: September-October 2019 (Ryan Homes)

On this Thanksgiving Eve it is my pleasure to present another Braemar Property Value Report.  This particular report covers the sales of homes built by Ryan Homes in Braemar during the months of September and October.

There were two Ryan Homes that sold.  Sold prices were substantially different at $475,000 and $512,000.  The details of both of those sales are below:

Combining these two sales with the entire past twelve months of Ryan Home sales in Braemar, our six and twelve month data points are updated to reveal the following:

Looking first at the sold price column, it is great to see both the six month average and six month median sold price above their respective twelve month values.  This means the values of Ryan Homes in Braemar are still pushing up.

When it comes to seller subsidy, which you may know as closing cost help to buyers, we see a trend that doesn’t favor sellers.  Both the six month average and six month median seller subsidy figures are higher than their respective twelve month values.  This means buyers have been requesting, and receiving, more closing cost help in the more recent deals.  This could be an early indication of a shift from a seller’s market coming our way.  Seller subsidy tends to decrease in seller favored markets.

Finally, the days on market column reveals not much of a change in marketing times from the six month average value from the twelve month average.  And there could not be more evidence of stability in marketing time than seeing that the six month median and twelve month median marketing times are identical.

If you placed your Ryan Home on the market, priced to current conditions, you could expect it to be under contract in under three weeks.  You could also expect to pay about 1% of the sales price or so, in closing cost help.

The next Braemar Property Value Report will be out in January.  I hope you will enjoy your holidays in the meantime.  Of course, if the need arises to sell your Braemar home before you next hear from me with another of these reports, please don’t hesitate to get in touch.  I work every month of the year getting top dollar for my Braemar sellers.  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: September-October 2019 (NV Homes)

Braemar Property Value Report: September-October 2019 (NV Homes)

As soon as I finish typing up this most recent Braemar Property Value Report, I am heading to the grocery store.  There is nothing more stress inducing this time of year than having to grocery shop on Wednesday, or even Tuesday, before Thanksgiving.  One of the joys of being a Braemar Real Estate Agent is that I can do my chores during regular business hours while the nine to five world is working.

In this edition of the Braemar Property Value Report, I focus on sales of homes built by NV Homes in our neighborhood during the months of September and October.  During that time, there were two NV Homes that sold.  The details of those sales are listed below:

Taking these two sales and combining them the entire last twelve months of NV Home sales in our neighborhood, our six and twelve month data points are updated. These are the data points that give us indications as to where our market is heading.  Our updated data points are pictured below:

Looking first at the sold price column, we see that both the six month average and six month median sold prices are below their respective twelve month values.  This is not a good sign, and if it is continues in the next report, could indicate the softening of values of the larger single family homes in Braemar.  Given the other data points, it may just be a fluke this report.  Allow me to continue.

Seller subsidy, also known as closing cost help to buyers, shows a trend indicating competitive demand.  Both the six month average and six month median seller subsidy value are less than their respective twelve month values.  This means buyers have been asking for less closing cost help, which is is generally an indication of a healthy, seller favored market.

Days on market is another column that shows stability to seller favored conditions.  The six month median marketing time is exactly the same as the twelve month median marketing time.  Meanwhile, the six month average marketing time has shortened by three days from the twelve month average marketing time.  NV Homes aren’t taking any longer to sell, and may in fact, be selling a tad faster.

If you placed your NV Home on the market, priced to current conditions, you could expect it to be under contract in less than three weeks.  You could also expect to pay about 1.5% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in January.  Until then, I wish you every happiness this holiday season.  Of course, if the need arises to sell your Braemar home before our next report, don’t hesitate to call, text or email me.  I sell Braemar homes for top dollar no matter the season!  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: September-October 2019 (Heritage Series)

Braemar Property Value Report: September-October 2019 (Heritage Series)

As we near the Thanksgiving holiday, you can feel the excitement in the air.  Preparations and plans are being made for celebrations with family and friends.  Some may think that not much would be happening in the world of local real estate.  I am here to tell you that there is plenty happening in real estate.  In the last three days I got two properties under contract.  That’s what a professional, full-time agent does…they sell real estate no matter the season.  And yes, even though this is a lazy Saturday afternoon for many, I am happy to be typing up this Braemar Property Value Report.

This particular report focuses on sales 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 nine Heritage homes that sold in Braemar during our current reporting period of September and October.  Final sold prices ranged from $432,600 to $550,000.  The details of those sales are listed below:

Taking these nine sales and combining them with the entirety of the previous twelve months of Heritage home sales, we get updated six and twelve month data points that give us a snapshot of the health of our Braemar Heritage home market.  Those updated values are below:

Starting with the sold price column, we see that both the six month average and six month median sold prices are above their respective twelve month values.  This means that values for Braemar Heritage homes are still pushing up.

Seller subsidy, also known as closing cost help to buyers, has remained at zero in both the six and twelve month median values.  That means in both sets of sales data, more than half the sales have NOT given closing cost help.  However, the six month average has risen when compared to the twelve month average.  When buyers are asking for closing cost help, it seems that it is more in the recent sales.

When it comes to days on market, there has been no change at all in the six month median and average compared to the twelve month median and average.  It is taking about the same amount of time it did a year ago to sell a Braemar Heritage home.

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect it to be under contract in less than two weeks.  You could also expect the odds to favor  you that you land a buyer that does not request closing cost help.

The next Braemar Property Value Report will be out in January.  Until, I wish you all the best this holiday season.  Of course, if the need arises for you to sell your Braemar home before next year, don’t hesitate to call me.   I sell Braemar real estate every month of the year for top dollar.  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: September-October 2019 (Arista Series)

Braemar Property Value Report: September-October 2019 (Arista Series)

There is no doubt that winter arrived early in Bristow.  Snow flurries and freezing temps are here. Brrrr.  I hope you have all winterized your hose bibs.  If not, definitely make it a priority.

For now, my priority is bringing you this Braemar Property Value Report, detailing sales of homes in the Arista Series. Those are the largest series of homes in Braemar built by Brookfield Homes.  The floor plans include the Allister, Buckingham and Canterbury.  The most popular of these floor plans in Braemar is by far and away the Canterbury.

During the current reporting period of September and October, there was only one Arista home that sold.  The details are listed below:

Even though there is only one sale, that doesn’t mean we can’t get an idea of value and other trends in the market.  This report gives values in increments of six and twelve months based on the entirety of sales for the last twelve months.  Those data points this report are listed below:

Looking first at sold price, it is outstanding to see that the sale of 9946 Broadsword sold for higher than our reported six month average and six month median sold prices.  Furthermore, just the six month sold prices compared to their twelve month counterparts shows that the Arista home sales in the more recent past are higher.  This means values are still pushing up.

Seller subsidy, unfortunately, is always pushing up in the six month values compared the twelve month values.  Seller subsidy is closing cost help that sellers give buyers from their net proceeds at closing.  This number moving up is not a shock given my first hand experience in the market place.  Buyers have been asking for, and receiving, more closing cost help lately.  If demand in our market wanes, this trend will continue.  If demand increases, we could once again see seller subsidy decrease.

Days on market does show a positive trend.  Both the six month average and six month median marketing times are below their respective twelve month values.  This means that Arista homes in Braemar are selling in a shorter amount of time by a week or a so in the more recent sales.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect your home to be under contract in a little more than a month. You could also expect to pay 1% to 1.5% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in January. Until then, there are still buyers out looking to be “home for the holidays.”  If a need to move has arisen in your household, don’t hesitate to find out why waiting for spring may not be the only answer.  I am here to help you any time of the 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