Braemar Property Value Reports: July-August 2018 (Ryan Homes)

Braemar Property Value Reports: July-August 2018 (Ryan Homes)

If it had to be sunny any day this week, it is fantastic to have that weather on Friday.  What a nice end to the work week for folks.  Of course, the work week for this Top Braemar Real Estate Agent is far from over.  I will be out showing property to buyers this weekend in our area.

Right now, it is time for the Ryan Homes installment of the Braemar Property Value Report.  This one covers the sales of Braemar houses built by Ryan Homes in July and August.  Without further delay, let’s get to it.

There were two Ryan Homes that sold in our current reporting period.  One for $429,000 and the other for $476,000.  The particulars of each sale are detailed below:

If we take these two most recent sales and combine them with our rolling twelve months of Ryan Home sales in Braemar, we have the opportunity to take a peek at updated six and twelve month data points.  When we do that, this is what we find:

When we look at the six month average and median sold prices to the twelve month average and median sold price, we want to see increases in the six month values compared to the twelve month values.  That would indicate Ryan Home values are increasing.  Unfortunately, this report gives us exactly the opposite of what we want to see.  Six month average and median sold prices are below the twelve month sold prices.  Not good, but hopefully, not a trend we will see continue.  In Braemar in general, home prices seem to be stabilizing. However, this report could be an early indicator that Ryan Home values are dropping a bit.  We won’t know for certain until we see if this trend continues through to the end of the year.

In the seller subsidy (closing cost assistance) category, we like to see six month average and median values below their twelve month counterparts.  While the six and twelve month median seller subsidy figures are exactly the same, the six month average is below the twelve month average.  That means Ryan Home sellers are giving less closing cost assistance when selling their homes.

Finally we get to days on market, or marketing time, as I like to call it.  The six month average and median marketing times are significantly shorter than the twelve month average and median marketing times.  That means Ryan Homes in Braemar have been selling faster recently.

If you placed your Ryan Home on the market, priced to current conditions, you could reasonably expect it to be under contract in about two and a half weeks…maybe even just one week.  You could also expect to give about one half of one percent of the sales price, or less, in closing cost help to your buyer at settlement.

The next Braemar Property Value Report will be out in November.  Until then, when you want to investigate the sale of your Braemar home and what it would be worth in the current market, call me for a free market analysis.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

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Braemar Property Value Report: July-August 2018 (NV Homes)

Braemar Property Value Report: July-August 2018 (NV Homes)

Did you know that as of today, there are twenty-one homes on the market in Braemar? They aren’t all single family homes, like the NV Homes in our neighborhood.  In fact, single family homes priced over $450,000 in Braemar make up ten of those listings.  And it is taking a while to get them under contract.  A quick look at those ten single family home listings in Braeamr over $450,000 tells me that they are averaging thirty-four days on the market….and they haven’t even been chosen yet!    One of the many reasons it is important to hire a Top Braemar Listing Agent.

Right now, this Top Braemar Listing Agent is going to update you as to what’s happened with NV Home resales in our neighborhood between July and August in this edition of the Braemar Property Value Report.  I have made it part of my job to stay on top of our local market.  I don’t know of any other real estate agent that serves Braemar that delves this deep into what’s happening in our neighborhood.

There was only one NV Home in Braemar that sold in during our current reporting period.  It was a Rutherford that sold for $485,000, having been listed for $500,000.  Details of that sale are below:

Not much can be determined by NV Home values by one sale.  That’s why this sale is added to my rolling twelve month store of NV Home sales in Braemar, and six and twelve month values pulled out.  When I do that, here’s what we find:

The trend you want to see in the sold price numbers is higher values in the six month average and median compared to their twelve month counterparts.  That is definitely what we find with NV Home values in the six month values compared to the twelve month values.  That means NV Homes are still pushing up in value.

When it comes to the seller subsidy (closing cost assistance) category, we want to see the opposite.  The best trend for sellers here is to have lower figures in the six month values when compared to the twelve month.  Once again, Braemar NV Home sellers in the last six months have been given less closing cost assistance to their buyers.  Gotta love that.

Days on market, or marketing time, is another category where we like to see more recent numbers trending down, compared to the whole year.  While the six month median value is two days longer than the twelve month median, the six month average value is thirty-one days shorter than the twelve month average.  That big a decrease in average marketing time is a great thing to see.  The two day increase in median value?  Not to worry.

If you placed your Braemar NV Home on the market, priced to current conditions, this report indicates  you could expect it to be under contract in two weeks.   However, at the start of this report, you heard the average days on the market for larger single family homes was thirty-four days for home still lingering on the market.  Who you hire to market your home matters and can affect marketing time and your final sold price.  As for what you could expect to pay in closing cost help, that would be an average of less than 1% of the sales price.

The next Braemar Property Value Report will be out in November.  Until then, when you are ready to sell your Braemar home, hire wisely.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

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

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

Ah Monday…my favorite day of the week.  There’s something really great about starting fresh in the work week when you love your job.  And as a Top Braemar Listing Agent, I certainly do love my job.

On this particular overcast and drizzly Monday, I am here to share the latest Braemar Property Value Report with you.  This one features sales of Heritage Series homes in Braemar during the months of July and August.  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 five Heritage Series homes that sold during our most recent reporting period.  Sold prices ranged from $480,000 to $519,900.  Details on each sale are as follows:

When we take these most recent sales and replace last July and August in our rolling twelve month store of Braemar Heritage Series home sale data, here’s what we find:

In a market with increasing market values, we find that six month average and median sold prices are above the twelve month average and median.  Obviously, that is not the case here.  The six month average sold price is nearly $5,000 below the twelve month average sold price.  The six and twelve month median sold prices are identical.  What does this mean?  At best, Braemar Heritage values are holding steady right now.  At worst, they may be starting a decline.  Only more market reports will reveal the trend.  For now, take heart in the knowledge the six month values were below the twelve month values in November and December’s reporting period in 2017.  They increased since then.  That leads me to believe these Heritage home values are leveling out.

When it comes to seller subsidy (closing cost help to buyers,) we like to see those numbers decrease in the six month values compared to the twelve month values.  Unfortunately, those are going the wrong direction, which in this case is up.  That means Braemar Heritage Series home sellers are giving more in closing cost help when they sell recently.  However, in the grand scheme of things, the amounts being giving are about one third of what buyers can actually absorb from sellers.  In other words, buyers could be requesting a heck of a lot more.

Finally, when it comes to days on market, or I like to refer to it “marketing time,” this is an area where decreases in the short term are good.  We have a two day increase form the twelve month average marketing time to the six month marketing time.  However, the six month median marketing time is below the twelve month median.  Small changes in both directions drives me to the conclusion that is is taking about the same amount of time to sell a Braemar Heritage Series home.

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

The next Braemar Property Value Report will be out in November.  Until then, when you want to know what your Braemar home is worth, give me a call.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

 

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

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

It always makes me smile to see the leaves start to change into their brilliant fall wardrobe. The trees on the east side of Native Rocks Drive are always among the first to start going from green to gold.  Of course, I have no idea what kind of trees those are because my specialty is not landscaping, but selling homes.  As a top Braemar Real Estate Agent, it is one of my favorite jobs to periodically look at the most recent sales data and share it with you.

This particular Braemar Property Value Report covers sales of Arista Series homes in Braemar.  Those are the largest homes built by Brookfield Homes and include the Allister, Buckingham and Canterbury floor plans.

Between the months of July and August, only one Braemar Arista home sold.  It was a four level Canterbury with five bedrooms and five and a half bathrooms.  It listed and sold for $599,900 and took only twenty-one days to sell.  Details of the sale are listed below:

To get an updated account of how Arista homes in Braemar are doing overall, we take this sale and put into a rolling twelve month collection of previous Arista home sales.  Then we parse that data out into six and twelve month markers.  When we do that, here’s what we find:

What we want to see in a six month to twelve month comparison in values is increased sold prices in the six month values, and lower seller subsidy (closing cost assistance) and days on market (marketing time) in those six month values compared to the twelve month values.

Looking at sold prices for the Arista Series, the six month average and median sold prices are both above the twelve month average and median sold prices.  That’s great news.  Values for Arista homes are continuing to rise.  However, the seller subsidy figures are higher in the six month average and median, compared to the twelve month average and median.  That means sellers are giving more of their net proceeds to buyers as closing cost help.  As for the marketing time, those numbers give us a mixed picture.  The six month average days on market is higher than the twelve month average days on market, but only by five days.  The six month median is twelve days shorter than the twelve month median.  All in all, those variations show that it is taking about the same amount of time as it has been taking, to sell Braemar Arista homes.

If you placed  your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contract in three weeks to two and a half months.  You could also expect to spend 1.5% to 2% of the sales price in closing cost assistance to the buyer.

The next Braemar Property Value Report will be out in November.  Until then,know that you  can’t start to preparing to sell too early. When you are starting the thought process of moving, give me a call.  Since 2005, No One Knows Braemar Better.

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

Braemar Property Value Report: November-December 2017 (Heritage Series)

Braemar Property Value Report: November-December 2017 (Heritage Series)

Today certainly felt a lot warmer than it has been in Bristow.  Funny when forty degrees feels balmy.  Even still, our low overnight in Bristow will be in the teens tonight.  Brrr.  Another good reason to stay inside and do some reporting on Braemar real estate activity.

This particular edition of the Braemar Property Value Report covers sales activity in the Heritage Series homes during the months of November and December 2017.   Heritage homes 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.  

There were six Heritage home sales in the months of November and December.  I was happy to have sold one of those (in purple type) and another that will be included in our next report.  The details of those six sales are as follows:

Placing these sales in with our rolling six and twelve month sales in the Heritage Series, we find that values may have softened the slightest bit in the short term.  Meanwhile, seller subsidy (closing cost help to the buyer), along with marketing time (DOM) have increased a bit in the short term.

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 or five weeks.  You could also expect to pay a little more than 1% of the sales price 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 of selling your Braemar home, give me a call.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

 

Braemar Property Value Report:  May-June 2017 (Arista Series)

Braemar Property Value Report:  May-June 2017 (Arista Series)

As I sit here, about to type the most recent Braemar Property Value Report, I realize
that I completely missed Casino Night at the Braemar Clubhouse last night.  If you went, I would love to hear about, so feel free to share in the comments below.

This edition of the Braemar Property Value Report is focused on activity in the months of May and June for Arista Series homes in our neighborhood.  Arista Series homes are the large, single family homes built by Brookfield Homes.  The floor plans include the Allister, Buckingham and Canterbury.

It is not at all unusual for this to happen, but during our last two month reporting period, there were no sales of any Arista homes in our neighborhood.  That’s okay, because with our new and improved reporting stats, we still have rolling six month and twelve month data to give us an idea what’s happening to the value of Arista homes in Braemar.

The six month average and median sold prices being the same, are higher than the twelve month average and median sold prices.  That could still be an indication that Arista home values are inching up.  The seller subsidy only seems to have decreased when comparing the six month median to the twelve month median.  That could be a good thing, but we need to see more sales to see if that is truly a downward trend.   The marketing time is a much improved number in the six month values vs. both twelve month average and median marketing times.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contract in two to three weeks.  A word of caution though, we are into the slower summer months of July and August.  Popular times for summer vacations usually equate to longer marketing times.  In terms of closing cost assistance, it appears that on average you could expect to pay a little more than 1% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in late September.  Until then, if you want to know how the current market conditions are affecting your specific home’s value, don’t hesitate to call me at 703-402-0037.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland

 Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com