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

 

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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

 

 

 

Braemar Property Value Report: March-April 2019 (Heritage Series)

Braemar Property Value Report: March-April 2019 (Heritage Series)

12146 Millbill Court sold for $499,800 on April 16th, 2019.

Graduation time is approaching and I know several families with seniors at Patriot High School that are excited to see this time come for their kids.  Of course, the excitement is tempered with a bit of sadness.  Time flies and when something like a graduation marks exactly how much time has gone by, it can give you pause.  Take time to enjoy the moments and celebrate safely.

Speaking of time, enough has passed to present you with another Braemar Property Value Report.   The various editions of the Braemar Property Value Report come out every two months and tracks sales of particular home types in our neighborhood, tracking values along the way.  This report focuses on sales of Braemar Heritage Series homes.   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.

Tied with Braemar townhouses for the most sales in the months of March and April, Heritage homes saw nine sales in our current reporting period.  That’s a lot of sales activity!  The sales are detailed below.

The sales ranged in final sold price from $442,000 to $550,000.  I was pleased to sell 12146 Millbill Court, highlighted in pinkish-purple above.  It is the oldest home on the list and sold above list price, with multiple offers, for the highest price of any of those built in the 1990’s.  And despite the marketing time listed above, it was under contract in two days.  It took twenty-two days to remove the contingencies.  That means our new MLS is still reporting marketing time in a manner in-congruent with what we had been used to, making marketing time above unreliable.

Taking these sales and combining them with the entire past twelve months of Heritage home sales, we get new six and twelve month data points.   Those figures are listed below.

Starting with sold price, it is fantastic to see both the six month average and median sold prices above their twelve month counterparts.  This means values of Braemar Heritage homes are still increasing.

When it comes to seller subsidy, also known as closing cost assistance sellers give buyers, the six month average is below the twelve month average, while both the six and twelve month median values are zero.  In the seller’s market, many buyers have been having to forego closing cost help, or settle for lower amounts, to win out in multiple offer situations.  More good news for Braemar Heritage home owners.

Marketing time, as mentioned above when discussing the sale of 12146 Millbill Court, is a number that is not counted the same as it used to be in our old MLS.  Previously, as soon as a home went under contract, no matter variety of contract status was published, the days on market counter stopped in our old MLS. However, in November, we switched to an MLS that only stops the days on market counter if you choose the contract status indicating there are no contingencies in the contract.  It’s a mess.  So when I see that marketing time has increased in both the six month values compared to their twelve month counterparts, I am not at all panicked.  Braemar Heritage homes are going under contract fast!

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect to be under contract and well on your way to closing in fifteen to twenty days.  You could also expect to pay 1/2% of the sales price in closing cost help, if any at all, to your buyer.

The next Braemar Property Value Report will be out in July.  Until then, rest assured that when the time comes for you to sell your Braemar home, I will hand calculate marketing times during our meeting.  I know you don’t care how long it takes to get contingencies removed, but how long it takes to make a deal with a buyer.  And my unparalleled knowledge of our neighborhood and top notch marketing, will get your home under contract for the maximum amount of money in short order.  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: January-February 2019 (Ryan Homes)

Braemar Property Value Report: January-February 2019 (Ryan Homes)

Do you find yourself feeling invigorated by the spring sunshine, warmer temps and our deciduous landscape in Bristow coming back to life?  I know I do.  I’ve got even more to make your spirits soar, particularly if you own a home built by Ryan Homes in Braemar.

This edition of the Braemar Property Value Report focuses on the sales of Ryan Homes in the first two months of the year.  As it turns out, there were two Ryan Homes that sold.  Their sold prices, as you will see in the details below, are nearly $100,000 apart.  That’s what happens when you have a finished basement in a much larger home.

Taking these two most recent Ryan Home sales and combining them with the previous twelve months of data, we get new six and twelve month data points.

Let’s start by looking at the biggest concern every Braemar home seller has–price.  The six month average and median sold prices are both higher than the twelve month average and median sold prices.  This means Ryan Homes are going up in value in the most recent sales.

When it comes to seller subsidy (closing cost assistance to buyers), there isn’t a lot of change.  Buyers are still getting a little something in seller subsidy in their deals, but there are not any drastic increases happening here.

Finally, days on market does show a significant increase in marketing time, particularly when comparing the six month median days on market to the twelve month median days on market.  Don’t panic.  In November our region switched to a new MLS (multiple listing service) that stops counting days on market not when a home goes under contract, but when the contingencies in the contract are removed.  Not all that helpful when sellers want to know how long it’s going to take their homes to go under contract.  I suspect our new MLS will go back to stopping the days on market counter when a home goes under contract.  However, if they do not, we’ll need a year’s worth of data in the new system before we have an apples to apples comparison.

If you placed your Ryan Home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement within about six weeks.  You could also expect to sell out under 1% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in late May.  Until then, when the sale of your Braemar home is on the horizon, it is never to early to consult this top Braemar Listing Agent.  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: January-February 2019 (Heritage Series)

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

Anticipation and excitement of the spring season on my part is usually hampered by the allergic reaction to pollinating trees, shrubs and flowers popping up in Bristow.  It’s an easy enough problem to solve with some Zyrtec.  As a Top Braemar Listing Agent, this is the time of year when more than just flowers are blooming.  So are listings, which will be a relief for buyers looking for homes in Braemar.

This edition of the Braemar Property Value Report focuses on sales of homes 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.

During the first two months of the year, there were two Heritage homes that sold.  Final sold prices for these two Yardleys could not be more different.

The sale for $414,000 was a bank owned home, having been to foreclosure.  The market didn’t care for the property at the list price of $449,900.  The other sale at $485,000 was a recently renovated Yardley that, as you will see, sold $10,000 above it’s asking price.

Taking these two sales together with the previous year’s worth of Heritage home sales, the updated six and twelve month value points give us a sense of current market conditions.

Both the six month average and median sold prices are below the twelve month average and median sold prices.  This indicates a softening of values in the Heritage Series.  We’ll have to wait and see what next report tells us.  The demand for these homes is incredible.

When it comes to seller subsidy, there’s a clear trend when you see the six month average and median values higher than the twelve month values.  That means buyers are requesting and getting higher amounts of closing cost help from sellers.

Days on market (marketing time) is a slightly longer in the six month values compared to their twelve month counterparts.  However, due to the change to a new MLS system in November that calculates this value differently, we won’t have apples to apples comparisons until we have an entire year’s worth of data under the new system.

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement in a little over two to three weeks.  You could also expect to pay about 1.5% of the sales price in closing cost assistance to your buyer.

The next Braemar Property Value Report will be out in late May.  Until then, when the time comes to sell your Braemar home, give me a call for your specific home’s value in the current marketplace.  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