Braemar Property Value Report: March-April 2022 (Ryan Homes)

Braemar Property Value Report: March-April 2022 (Ryan Homes)

You can almost feel the excitement in the air. A long weekend is just around the corner and summer will be unofficially underway. Is the excitement still in the air in the Braemar real estate market? In this edition of the Braemar Property Value Report we look back at what happened with the houses built by Ryan Homes in our neighborhood for the months of March and April. We will also get a chance to see the updated six and twelve month market markers. Let’s get right to it.

There were only two Ryan homes that sold during our current reporting period. There wasn’t a huge gap in sold price with one selling at $690,000 and the other selling at $710,000. Details of both sales are listed below:

The happiest things for would-be Ryan home sellers to see is that seller subsidy (closing cost help to buyers) is at zero in both and days on market is a week or less in both.

Taking these sales and combining them with Ryan home sales in Braemar going back to May 2021, our updated six and twelve month market markers are updated and may indicate a slight shift in the market.

Starting with the sold price column we find that the six month average sold price has increased about one percent from the twelve month average. Increases in six month value are what we have been seeing in the seller’s market conditions of late. However, the six month median sold price has fallen below the twelve month median sold price. We will have to see what next report shows us, because recent multiple offer scrums in the neighborhood tell me we are still seeing very high buyer demand.

Seller subsidy is where we learn how much closing cost help sellers gave buyers. In the case of Ryan home sellers, the amount of closing cost help has been nothing in recent sales. However, the six month average seller subsidy is a little higher than the twelve month average. Not to worry, the six and twelve month median seller subsidy values remain at zero. This means more than half of Braemar Ryan home sellers gave nothing in closing cost help in both time frames.

Marketing time has increased in both six month values compared to their respective twelve month values. This are not big increases. Buyers are being more deliberate in their actions as mortgage interest rates have increased. They are not as susceptible to pouncing on listings immediately.

If you placed your Ryan home on the market, priced to current conditions, you could expect it to be under contract in a week or so. You could also expect to give nothing in seller subsidy. Home inspection contingencies are making a come back, but largely seem to be of the right to void variety from what I am experiencing.

The next Braemar Property Value Report will be out in July. Until then, if you would like to investigate what a 2022 sale would mean for you, don’t hesitate to reach out for a confidential consultation. I have made it my business to be the most informed agent in the neighborhood. And I consider it my best talent to create buyer enthusiasm around my listings, maxing out my seller’s profit. 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 (Heritage Series)

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

Welcome to another Braemar Property Value Report, focusing on sales of Heritage Series homes in our neighborhood. If you are not familiar with what constitutes a Heritage home in Braemar, they are the 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.

During the months of March and April, there were four Braemar Heritage homes that sold. The details of those sales are listed below.

With sold prices ranging from $662,000 to $740,000 and all four selling at or above their list price, the Braemar Heritage home market is looking very health. Further support of this, with a quick look, is seeing no seller subsidy (closing cost help to buyers) in any of the sales and all of these homes going under contract in a week or less.

When taking these sales and combining them with the Heritage home sales in Braemar dating back to May 2021, the six and twelve month market markers tracked in this report are updated.

Starting with the sold price column we see that both the six month average and six month median sold prices are higher than their respective twelve month sold prices. This is evidence of the continuation of the seller favored market, despite rising mortgage interest rates.

Seller subsidy went down in the six month average compared to the twelve month average. Not surprising given that the most recent sales gave none at all. Of more importance is that more than half of sellers in both the six month and twelve month time frames gave nothing in closing cost help. When buyers are competing over limited inventory, they are having to write seller favored terms to get their offers accepted.

Days on market is holding steady down the line in single digits. Again, limited inventory and many more buyers competing for it is what is driving this market. The mortgage interest rate increase seems to have had little impact so far.

If you placed your Braemar Heritage 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 seller subsidy.

For the best outcome, even in a seller’s market, having strong representation on your side is a must. It starts with getting the proper listing preparation advice. A well prepared home is one that buyers will be enthusiastic about, especially if it is professionally marketed. Hiring strictly based on the lowest commission and relying on the market conditions for a great outcome is a poor strategy. Sellers employing this technique believe they increase their bottom line by saving commission. They actually leave money on the table with buyers being less enthusiastic about poorly prepared and half-heartedly marketed homes.

The next Braemar Property Value Report will be out in July. Until then, when the time comes for you to sell your Braemar home, I would love to talk with you about how my listing process can increase your bottom line. My Braemar sellers have been hitting the top of the market for many years. Let’s get you to the top of the market too. 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 (NV Homes)

Braemar Property Value Report: January-February 2022 (NV Homes)

On this St. Patrick’s Day 2022, I bring you the Braemar Property Value Report for NV Homes in our neighborhood. This edition looks back to the sales from January and February 2022. We also will get the opportunity to get market trend info from our updated six and twelve month data points.

There was only one NV Home that sold in Braemar during the first two months of the year. Details are listed below:

Immediately my agent eyes go to the biggest stand out factor. This NV home sold for over $50,000 more than its list price. The buyer frenzy that had quieted a bit in the second half of 2021 is back. I’ve witnessed it with my own Listing Agent eyes. Let’s see what market trends can be deciphered from the updated six and twelve month data points, which include NV Home sales in Braemar going back to March 2021.

Starting first in the sold price column it is great to see both six month values higher than their respective twelve month values. NV Homes in Braemar continue to push up in value as we progress through this seller’s market.

Seller subsidy is where we find out how much closing cost help Braemar buyers were able to negotiate from the NV Home sellers. With only the twelve month average having a value more than zero at $153, the answer is very little. Looking at the raw data of the fifteen sales of NV Homes in the past twelve months, only one seller gave any seller subsidy at all.

Days on market, while two to three days longer in the six month values compared to their respective twelve month values, is nothing alarming. In general, NV Homes are selling very quickly.

If you placed your NV Home on the market, priced to current conditions, you could expect your home to go under contract in less than a week. You could also expect to pay nothing in seller subsidy as so many buyers are out competing for very little available homes.

The next Braemar Property Value Report will be out in May. In the meantime, if the need arises to sell your home, I would love the opportunity to consult with you. Selling in a seller’s market is not a guarantee of making the max the market will bear. Sadly, I see observe sellers leaving money on the table every time I log into the MLS. My listing process is one that never cuts corners or gets lazy, relying on market conditions to do the work for me. Preparation and professional marketing are key to creating the essential ingredient to max profit--buyer enthusiasm. Skilled negotiation comes into play when vetting multiple offers and working with the buyer you choose. Consultations are confidential and free. Reach out and let’s schedule a conversation. 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 2021 (Ryan Homes)

Braemar Property Value Report: November-December 2021 (Ryan Homes)

The picture above felt all too appropriate for this edition of the Braemar Property Value Report. Though we are here and now in 2022, this particular installment looks back to the last two months of 2021 for the most recent sales activity for Braemar houses built by Ryan Homes. After that, a brief look at the six and twelve month data points will tell us how Ryan homes in Braemar are trending. I still remember selling that Ryan Home in eight days in a much different market.

There were two sales of Ryan homes in Braemar in November and December. The details of each are listed below:

Neither of these sales is overly impressive. Then again, one was essentially an owner representing himself, but paying for MLS (multiple listing service) placement and the other was a home with amateur marketing. The Ballagan home was the limited service agent/owner self-representation. He sold $20,000 below list price, gave $10,000 in closing cost help and it took him nearly a month to do it. Not good, nor indicative of what our fourth quarter market had to offer. The other sold $100 above list price, but gave $15,000 in closing cost help. (gulp) I have done several Braemar Property Value Reports for this same time period. These are the only two single family homes to give seller subsidy in the last two months of November. Professional marketing agents are worth what they charge for what they bring to the table. Say a seller paid 1% more for an agent that did professional marketing on the second home, they would likely have still saved that $15,000 in closing cost help request. A net win! The description of the home tells the tale of a cul-de sac home with roof and appliances only three years old. Sellers get the marketing and representation they pay for. Who knows how good a deal the first home could have had with an agent negotiating on their behalf? No seller subsidy and probably closer to list price. Both more than worth it. Buyer enthusiasm doesn’t exist for no reason. You need to create it.

Taking all the sales from 2021 and parsing out the six and twelve month data points I follow in this report, here is what we get:

Starting with the sold price column, the good news for Ryan home owners is that values are still rising, in spite of the most recent sales. Look for the rate of increase to slow in 2022, as myself and other are predicting the 2022 growth will be very modest.

Seller subsidy values, despite the very large amounts given in the recent sales, on average are still very low. Obviously, the six month average is elevated from the twelve month average because of the two sales from November and December. However, the fact that the six and twelve month median values are at zero tell us that more than half of Ryan home sellers in both time frames gave nothing in closing cost help. Hire the best negotiators and get the best results.

Days on market, again…despite the two most recent sales, is still very fast when it comes to average and median values. Hire professional marketing agents and your home will sell quickly.

If you placed your Ryan home in Braemar on the market, priced to current conditions, you could reasonably expect it to be under contract in a week. You could expect to give nothing in closing cost help. However, buyers have been coming back with the typical contingencies in their offers since the second half of 2021. Those are financing, appraisal and home inspection.

The next Braemar Property Value Report will be out in March. Until then, if 2022 is the year you think you may want to sell, now is the time to start talking to your real estate professional. Give me a shout. My unparalleled neighborhood knowledge (and pride,) combined with my professional marketing make my Braemar sellers very happy. 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 2021 (Arista Series)

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

Happy New Year and welcome to the most recent edition of the Braemar Property Value Report (BPVR) for Arista homes in our neighborhood. I simply could not resist putting up a photo taken of our own Allister after one of a few storms during snowmaggedon of 2009-2010. The snow in the wee hours of Monday morning certainly did catch a lot of folks off base. Thankfully, at least in Braemar, there seem to be only some downed trees to contend with and some hastily plowed streets.

In this edition of the BPVR the focus is on the last two months of sales activity for the largest homes built by Brookfield Homes in our neighborhood. Those are the Arista Series homes and include the following floor plans: Allister, Buckingham and Canterbury. Unfortunately, there were no sales to report in the last two months of 2021, but with updated six and twelve month data points looking back at all the sales from 2021, we do get to see how the year for Arista home values in Braemar ended.

Looking first at the sold price column, the best news is that both six month values are higher than their respective twelve month values. This means Braemar Arista homes ended the year still gaining value. Granted, the rate of increase slowed since last report, but not by too much. Growth rate decreased by 0.4% on average and 0.6% median. Predicitons for 2022 are that homes will continue to rise in value, but by about 3% for the whole year.

Seller subsidy is where we learn how much closing cost help Arista home buyers were able to negotiate from their sellers. The six month average seller subsidy has increased compared to the twelve month average, which means there have been some seller subsidy requests increasing that. However, with both the twelve month average and median being at zero, we know that more than half of Arista home sellers in both time frames gave nothing in closing cost help.

Days on market ticked up in both six month values compared to their respective twelve month values. The latter half of 2021 did see some momentum shift, but the advantage in the market is still with sellers.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contract in two weeks or less. You could also expect a better than fifty percent shot at not having to give any seller subsidy. You should also be prepared for buyers to have home inspection contingencies. The buyer frenzy has chilled to a point where these are back in the norm.

The next Braemar Property Value Report will be out in March. Until then, if 2022 is the year a move may be in your future, it is never too early to consult with a listing agent. My Braemar sellers reap the benefits of my listing preparation advice, professional marketing, advanced negotiation skills and unparalleled neighborhood knowledge. No matter the market, it is import to create buyer enthusiasm and keep it throughout the transaction if you are going to get the maximum amount from the sale of your largest asset. Give in touch to set up your free, no obligation 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: September-October 2021 (Ryan Homes)

Braemar Property Value Report: September-October 2021 (Ryan Homes)

The end of the holiday weekend is upon us. With company gone and having no desire to delve into the set up of my Christmas tree, I have decided to publish the next Braemar Property Value Report instead. You know a Braemar real estate agent loves their job when they willingly sit down to put together a market analysis versus any number of other non-work related activities. Loving what I do is truly a blessing.

In this edition of the Braemar Property Value the focus in on detached houses built by Ryan Homes in Braemar. During the current reporting period of September and October, there were five Ryan homes that sold. The details of those five most recent sales are detailed below:

Unlike last report where all but one of ten Ryan home sold prices was well above list price, this report shows three of five sold above list price. The second half of the year there was a shift in demand taking place. And though the all-out buyer frenzy has chilled, it is still a seller’s market. Demand is still outpacing supply.

Taking these five most recent sales and combining them with the entire past twelve months of Ryan home sales in Braemar, the six and twelve month data points tracked in this report are updated as seen below.

Starting in the sold price column we see both the six month average sold price and six month median sold price much higher than their respective twelve month values. Ryan homes are still gaining value.

Seller subsidy (closing cost help negotiated by buyers from sellers) is a non-factor with zeros down all the relevant time markers. This means not one Ryan home seller in twelve months has given closing cost help.

Days on market is single digits down the line, and only one digit off in the twelve month average. Ryan homes are continuing to sell fast.

If you placed your Ryan home on the market, priced to current conditions in our Braemar market, you could expect it to be under contract in about a week. You could also expect to give nothing in seller subsidy. Not represented in the stats of this report, however, you could expect to see home inspection and appraisal contingencies in your offers. As the buyer frenzy has quieted, buyers are less likely to waive all contingencies like they had been doing in the first half of the year.

The next Braemar Property Value Report will be out in January. Until then, I wish you all the best the holiday season has to offer. Of course, whenever the need to sell your Braemar home arises, I would love the opportunity to consult with you about the sale of your home. Despite the season or market conditions, creating and maintaining buyer enthusiasm is what it takes to make the absolute most the market will bear. And with my unparalleled neghborhood knowledge, my professional marketing and superior negotiation skills are even better at achieving both. Helping my Braemar neighbors sell is always among my greatest pleasures. 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: September-October 2021 (NV Homes)

Braemar Property Value Report: September-October 2021 (NV Homes)

The turkey and traditional sides induced over-full state has subsided and it is back to work for this Braemar Real Estate Agent. Back to work means actually doing the research and producing this Braemar Property Value Report focused on properties built by NV Homes in our neighborhood. That’s right, I don’t cut and paste reports for you. I run the sales, crunch the numbers and give you my analysis. That is why my wealth of knowledge of our Braemar real estate market is unparalleled. I do the work to understand our market.

In the months of September and October, there was only one NV home that sold. The details of that sale are listed below:

Having only one sale for the current reporting period doesn’t mean that we don’t have updated six and twelve month data points. This sale gets tossed in with the previous sales of NV homes for the previous year and the sales from September and October last year are dropped. The updated six and twelve month data points used in this report are then updated as seen below:

Starting with the sold price column there are healthy increases in both six month values compared to their respective twelve month values. NV homes are continuing to increase in value. And unlike what I have seen with other home types this reporting period, NV homes have lost only one half of one percent in the average six month growth rate compared to last report. They have lost no ground in median six month growth rate.

When we get to the seller subsidy column, we get to see how much closing cost help Braemar buyers were able to negotiate from their NV home sellers. The answer is nothing more than they had before. The most recent sale gave no seller subsidy. And with the six month average seller subsidy decreasing compared to the twelve month average, it seems more and more sellers are giving nothing, bringing that average number down. The six and twelve month median values being at zero means more than half of NV home sellers in both time periods gave no closing cost help. This is the mark of buyer competition being strong for these homes.

Days on market has come down in both six month values compared to their respective twelve month values. This is also contrary to what I have found in preparing other Braemar Property Value Reports for the same time period. The most recent sale going under contract in only four days is fantastic.

If you placed your Braemar NV 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 very little, if anything in closing cost help. And based on trends I am seeing in the market, there is a shift away from the all-out buyer frenzy in our real estate market. Buyers are more likely to ask for home inspections and not waive appraisal. That doesn’t mean we are entering a buyer’s market. Supply is still not keeping up with demand. Buyers are not as many in number and not feeling the need to give away every possible contingency to get under contract.

The next Braemar Property Value Report will be out in January. Until then, I wish you all the best this holiday season. Of course, if the need arises to sell your Braemar home, I am here for you no matter the season. Creating buyer enthusiasm and maintaining it throughout the transaction is what makes keeps my sellers at the max the market will allow. My knowledge of our community is what gets my Braemar sellers the advantage over their competition. Feel free to reach out any time of year for a no obligation consultation. It is my pleasure to serve my neighbors. 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: September-October 2021 (Heritage Series)

Braemar Property Value Report: September-October 2021 (Heritage Series)

The day before Thanksgiving may be a day of food preparation for a lot of folks, but for this Braemar Real Estate Agent it is a day of putting together another in my string of Braemar Property Value Reports. Staying on top of the Braemar real estate market is essential and actually putting together these marketing reports gives me market insights that simply pulling market data and slapping it online or in a postcard never would.

Today’s Braemar Property Value Report is focused on the sales of Heritage homes in our neighborhood for the months of September and October. 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 from the beginning of September to the end of October. That’s four less than happened last report. Details of the most recent sales are listed below:

There are three things that stand out looking at these sales. First, none of them sold above their list price. Second, more sellers than not gave seller subsidy (closing cost assistance.) Third, days on market before going under contract is going into double digits in most of these sales.

Taking these five sales and combining them with the entire past twelve months of Heritage home sales in Braemar, the six and twelve month data points that are central to this market report are updated as seen below. Let’s delve into each data point in more detail.

Starting with sold price, the good news is that both six month values are higher than their respective twelve month values. Braemar Heritage homes have gained in value again. However, the rate of increase has slowed down. Last report, the six month average rate of increase in value was 4% and the six month median rate of increase was 5%. This report, the six month average rate of increase has been cut by half at 2%. The six month median rate of increase is less dramatic a decrease at 4%. If this were the only indicator of a shifting market, it would be less compelling.

Seller subsidy is a column were we see very little change in the six month average to the twelve month average. And the six month and twelve month median values being at zero tells up that in those time periods, more than half of sellers gave no closing cost help. What is concerning is that the majority of sales that happened in September and October gave seller subsidy. Seems that buyers are less likely to waive the request, and for that matter, they are also no longer waiving inspections. The market has definitely shifted since the first half of the year, but conditions still favor sellers. The all-out buyer frenzy has cooled though.

Marketing time in the six and twelve month value points doesn’t show cause for alarm. There are only slight increases in both six month values compared to their twelve month counterparts. What is concerning is the days on market racked up by the most recent sales. If that trend keeps up, the six month average and median will be increasing more significantly in the next report.

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 or so. You could also expect to see offers from buyers that include closing cost help and inspection contingencies.

The next Braemar Property Value Report will be out in January. Until then, I wish you all a very happy holiday season. And of course, when the need arises to sell your Braemar home, I encourage you to reach out to me for a no obligation consultation. As unbelievable as it may be, money can be left on the table even in a seller’s market. The key to success is creating and maintaining buyer enthusiasm. My unparalleled neighborhood knowledge, combined with my marketing and negotiation skill sets, get my Braemar sellers the absolute max the market will bear. 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: July-August 2021 (Arista Series)

Braemar Property Value Report: July-August 2021 (Arista Series)

As I type this, Tropical Storm Ida is making this day in Bristow perfectly miserable. Bands of wind and rain have been broken by the ocassional glimpse of sunshine. Days like this always remind me why I gave up on umbrellas and now opt for hooded rain jackets. There is never a substitute for the best preparation for anything in life, real estate included.

Today I bring you the first in the July-August 2021 Braemar Property Value Reports. This one focuses on sales of Arista Series homes in our neighborhood. Arista homes are the largest single familiy homes built by Brookfield Homes in Braemar and include the Allister, Buckingham and Canterbury models. Let’s get right to it and see what happened during the last two months of summer.

During July and August there were three Arista homes that sold in Braemar. They were all Canterbury models with three to four fully finished levels. The details of each of those sales is detailed below:

Quite a difference in sold prices to see a six bedroom, five and a half bathroom Canterbury sell for $729,000 while two others with one and two fewer bedrooms, and one fewer full bathrooms, sold for $790,000 and $791,000. What’s the difference? The $729,000 sale was a little more basic inside in terms of finishes (Corian counter tops, for instance in the kitchen,) but the glaringly obvious fact to an agent like myself on that lower sale was the lot. That home backed to the middle school and the water tower. Location matters tremendously in real estate.

By comparision, the $790,000 and $791,000 sales backed to trees. One was very well kept with a finished loft in addition to the basement. That was the $790,000. The $791,000 backed to the same tree line, lacked a finished basement, but had an in ground pool. Pools are great, but should not be counted upon in the Bristow market to bring you more in your sale. In this case, it seems the pool was equivalent in markekt value to a finished loft that added an additional bedroom, bathroom and open space.

Taking all three of these sales and combining them with the entire past twelve months of Arista home sales in Braemar, the six and twelve month data points provide us information that suggest the market may be slowing down.

To start with, the sold price column doesn’t show tremendous increases in sold prices from the six month average and median compared to the twelve month average and median. The highest increase was comparing the averages and only accounted for abourt 1% average increase in six months. The median sold prices are much more telling, as they show an increase of only $500 in six months. Our last report showed much larger increases.

Seller subsidy, also known as closing cost help to buyers, was zero down the line. This is something we have been seeing as buyers compete for fewer homes. Asking for closing cost help in an offer is a one way ticket to not getting your offer accepted in multiple offer situations these days.

Days on market reveals more data that inidcates a slowing pace to the frenzied seller’s market. Both the six month average and six month median marketing times were longer than their respective twelve month values. Nine days is still not a long time to market a home by any means, but it is an indcator that the market is changing to see marketing time getting longer.

If you placed your Arista home on the market, priced to current conditions, you could expect it to be under contract in more than a week and less than two weeks. You could also expect to not have to give any seller subsidy.

The market slow down in this report from July and August is likely an impact of summer vacations. So many families missed out on them in 2020 and were adamant about taking them this year. Buyers took time away from the market for summer and sellers who thought that summer vacation while the kids are out of school is the best time to list, provided a lot more inventory, giving the fewer buyers more choices. Obviously, it is still a seller favored market. Only time will tell if the buyer frenzy that drove prices up steeply this year returns in the fall.

The next Braemar Property Value Report will be out in November. We’ll have a good idea by then if the buyer frenzy has returned. Until then, if you want an in depth market analysis of what a sale could mean for you, get in touch with me. Listing preparation and professional marketing are the keys to not leaving money on the table, no matter the market. And my added expertise on our neighborhood add even more the professional marketing of your home. 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

Just Sold Another Braemar Home Above List Price

12809 Gentle Shade Drive Listed for $649,000 on July 8th and Sold for $717,000 on August 6th.

Just Sold Another Braemar Home Above List Price

Having recently listed 12148 Formby Street and 9239 Glen Meadow Lane, I have to say I was not about to advise the sellers of 12809 Gentle Shade Drive to raise their list price prior to hitting the market. Those other Bristow homes had not received offers their first weekend on market and one barely sold above list price. The seller’s market of 2021 had changed going into summer. My advice was to stick to the marketing plan at $649,000 and see what buyers thought. There is no such thing as underpricing in a seller’s market.

It was evident right away that this home in Braemar was in high demand. After three offers, it was time to hit the done button. A buyer came in with an offer the sellers couldn’t refuse. Best of all, the buyer could back up their offer price with a sizeable down payment. That meant if appraisal came in low, the sellers wouldn’t require the sellers to lower the sales price.

uAs we waited for appraisal day, since there were no other contingencies, I got a call from a colleague with a listing nearby that had gone under contract sight unseen. The agent was furios that the appraisal had come in below list price while the offer her seller’s held was well above list price. That’s the risk of sight unseen. You don’t get to see market value if you were never exposed to the market. Appraisers take multiple offers into account when they are heading in the same direction. However, one offer that a buyer puts together to make the seller stop the marketing process before it begins should be a red flag to listing agents.

Thank goodness, the listing preparation my sellers had done at my recommendation, combined with my professional marketing got them a fantastic offer. And showing all of the updates, offers and having the marketing to show the appraiser made a difference. The appraisal, we are told, came in at sales price! Which brings me to the very happy ending of this Braemar home sale.

On August 6th (2021,) 12809 Gentle Shade Drive sold for $717,000..$68,000 above list price.

Ready to list your Braemar home? Don’t leave a penny on the table. Even in a seller’s market it can happen. Get in touch with me to get the skinny on listing preparation recommendations and my professional marketing to power buyer enthusisam. Since 2005, No One Know 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