Braemar Townhouse: Under Contract in Four Days After Multiple Offers

Braemar Townhouse: Under Contract in Four Days After Multiple Offers

On January 23rd (2020) I was proud to present 9619 Innerwick Place to the market.  Priced at $384,900, this townhouse had a lot to offer buyers..and the market responded.  The first day, the sellers had an offer.  The second day, they had another offer.   The sellers had decided  to wait through the first weekend and two open houses before deciding on an offer.  By that time, there had been fourteen showings with agents and twenty-two buyers through the open houses.  That’s a lot of people looking for Braemar townhouses.  And right now, as I type this, there is not a Braemar townhouse on the market at all.  And in all of Bristow, there are only three townhouses on the market.

After three offers, the sellers went under contract with a very seller favorable offer.  Final details will be revealed when the sale closes in late February, so stay tuned for that.

In the meantime, if you have been thinking of selling your Braemar townhouse, there is no time like the present.  Buyers will gobble it up. Of course, the key to getting the top of the market price is listing prep and professional marketing.  Just click the property address above for the photos of this townhouse.  When you hire me to help you sell your Braemar home, that’s what you get.  No detail is overlooked, because there are dollars in the details.

Give me a call and let’s get started.  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 Piggyback Quarterly: October-December 2019 (4th Quarter)

Braemar Piggyback Quarterly: October-December 2019 (4th Quarter)

Welcome to another edition of the Braemar Piggyback Quarterly.  This particular edition looks back to the fourth quarter of 2019 to Piggyback townhouse sales in our neighborhood of Braemar.  If you are not familiar with what a Braemar Piggyback townhouse is, they are three level townhouses, completely above grade, with attached two car garages.  The townhouses themselves are attached not just on the sides like traditional townhouses, but also along their back wall to another row of townhouses.  What they lack in not having a back yard, they make up for the large bedroom sizes.

During the last quarter of 2019, which started October 1st and ended December 31st, there were four Braemar Piggyback townhouses that sold.  Their final sold prices ranged from $332,000 to $355,000.  The details of each of those sales are listed below.

Immediately you notice that one of the sales is highlighted in pink.  That means that I was the listing agent for that home.  Bringing you consistent market reports for Braemar certainly makes me a super knowledgeable agent.  However, I like to show you the results that my sellers, and buyers, get when they hire me.  Not only did the seller of 13036 Bathgate get one of the highest sold prices, she had multiple offers and was under contract in only six days!

Taking all four of these fourth quarter sales and combining them with every Piggyback home sale that happened in Braemar during 2019, we get updated six and twelve month data points.  This is what gives us our market insights.  Our updated values points are below:

Looking first at 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 Braemar Piggyback townhouses saw some some increases in recent sales.  However, it is worth noting that two of the four sales in the fourth quarter fall below even the six month average sold price.  That happens enough and values will be on the down turn.

Next up, we see an increase in the six month average and median seller subsidy when those values are compared to their twelve month counterparts.  This means that Braemar Piggyback townhouse buyers have been asking for, and receiving, more closing cost help from sellers.  This could be an indicator that our seller’s market is cooling off a bit.

Finally, when it comes to days on market (or marketing time as I like to call it,) we see that there was a slight increase in marketing time from the six month average compared to the twelve month average.  There was only a one day increase in marketing time when looking at the six month median to the twelve month median.  I noticed when I sold 13036 Bathgate that Braemar Piggyback homes tended to be hanging on the market longer.  Truly, hiring the right agent for the job and getting the best advice, puts you in the shorter time frames.  However, overall it is taking a little longer on average to sell Braemar Piggyback homes.  Perhaps another indicator of the cooling of our Braemar seller’s market.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to be under contract in about two to four weeks.  You could also expect to paay 2% to 3% of the sales price in closing cost assistance to your buyer.

The next Braemar Piggyback Quarterly will be out in April.  By then, the spring market in Braemar will already be in full swing.  If you want to get on top of it and get the top dollar for your home in the shortest period of time, give me a call.  Since 2005, No One 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

 

 

 

Another Braemar Townhouse Sold by Chris Ann Cleland

Another Braemar Townhouse Sold by Chris Ann Cleland

On September 26th, this piggyback townhouse located at 13036 Bathgate Way hit the market priced at $355,000.  As the competition around this listing seemed to be languishing on the market and dropping their prices below where we were hitting, I had to wonder if we would be languishing too.  Not at all.  It was a delightful surprise to have two buyers with competing offers within four days. Who would have guessed there were multiple buyers who wanted a property like this, priced above its competitors, based on what we saw hitting the market?

Great results start with choosing the best agent for the job.  For this seller, and many other Braemar sellers, that is me.  I know how to market the various styles of homes in the neighborhood because I am familiar with all of them.  I have been a resident of the neighborhood since 2005, and I have served most of those years on an HOA board.  My slogan, No One Knows Braemar Better, is most definitely true.

Not only do I know the neighborhood and how to position the listings I have against their competition, I know how to market them professionally to get my sellers the maximum attention from online buyers.  Professional photography is a must, but so is preparation prior to photos.  That’s where my marketing skills come in handy, helping my sellers edit their “stuff” so their homes show in the absolute best light.  Any agent can take your listing, snap some photos and throw you in the MLS.  Professional marketing gets the best results.  You don’t put a listing up with the phrase, “Immaculately kept” and have towels in bathrooms look as though they were thrown from across the room to land haphazardly on the towel rack.  Attention to detail is critical for a listing agent.

Getting under contract quickly, and in an unexpected multiple offer situation, my Bathgate seller got terms that favored her.  The next hurdle was getting the home to appraise for the list price the buyer was willing to pay.  Remember, our competitors were dropping their prices to get noticed.  That’s not a environment that is easy to deal with come appraisal time.  As is my business practice, I met the appraiser at the property with information on the home, what set it apart from its competition and comparable sales that we had based our list price on.  Low and behold, we were through appraisal with no issue.

The only speed bump this sale hit was in the processing of the buyer’s grant from VHDA.  Our settlement date was delayed from Halloween to November 5th (2019.)  There is no escaping government bureaucracy, but a great agent keeps their client informed every day as to what is happening….even if that is nothing.

When you are ready to sell your Braemar home, remember that success starts with your choice of agent.  Your decision should be based on results and how the agent’s previous listings have been marketed and sold. Of course, an agent who can get you the best results is not going to be cheapest, but they will make you the most money.   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 Townhouse Report: January-February 2019

Braemar Townhouse Report: January-February 2019

It is time for another Braemar Townhouse Report.  This particular edition features sales of traditional townhouses in Braemar during the months of January and February.

There were four Braemar townhouses that sold during the first two months of the year.  Final sold prices ranged from $318,000 to $345,000.  Details of the sales are listed below.

Taking these four sales and combining with the previous year’s worth of Braemar townhouse sales, new six and twelve month data points come to light.  Here’s what we have now:

Let’s start examining the sold price data. Both the six month average and median are notably below their twelve month counterparts.  This would be an indication that, in the more recent past, Braemar townhouses have been decreasing in value.  However, all but one of the four most recent sales are above the six month average and median sold prices.  The same doesn’t hold true across the board when we take the three highest Braemar townhouse sales reported for January and February and compare them with the twelve month average and median.  Only one of those most recent sales is higher than the twelve month median sold price.  Three are still above the twelve month average though.  While indicators are there that townhouse prices might be softening, we need more reports to see for sure if this is a blip or trend.

Seller subsidy is definitely on the rise.  Both the six month average and median seller subsidy values are greater than the twelve month seller subsidy values.  This means Braemar townhouse sellers are giving more closing cost assistance in the most recent sales to their buyers.

Comparing six month average and median days on market to the twelve month counterparts, we see a spike in average and median marketing times compared to the twelve month values.  Don’t panic.  In November we switched to a new MLS system that stops counting days on market at a much different point, which is well into the transaction.  It is no longer when your townhouse goes under contract.  It will be a full year’s worth of data before we have an apples to apples comparison here if the new MLS does not change their marketing count method.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement in about a month.  You could also expect to give about 1.5% of the sales price in closing cost help to your buyer.

The next Braemar Townhouse Report will be out in late May.  Until then, when the sale of your Braemar townhouse looks like it is approaching, give me a call and we’ll start with a free market analysis of your home’s value in the current market.  From there, we’ll develop the best strategy to meet your home sale timeline and goals.  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 Townhouse Report: September-October 2018

Braemar Townhouse Report: September-October 2018

Bringing up the rear in this round of Braemar Property Value Reports is the Braemar Townhouse Report.  My self-imposed deadline for getting each report online is the last day of the month, following the second month in the reporting period.  So today is my deadline.  Whew!

This Braemar Townhouse Report focuses on sales of traditional three level townhouses with a backyard in Braemar for the months of September and October.  During that period, there were eight townhouse sales in Braemar.  Sold prices ranged from $275,000 to 365,500.  The details of those sales can be found below:

Taking these most recent sales and updating the last year’s worth of sales data of Braemar townhouses with them, we get new six and twelve month data points to look over.  Here’s what we find:

Every Braemar townhouse owner’s first interest is naturally going to be the sold prices.  The good news is that, even though it is by just a little, the six month average and median sold prices are both above the twelve month average and median sold prices.  Braemar townhouse values are still inching up.

When it comes to seller subsidy (closing cost assistance to buyers), the six month average and median numbers show an increase over the twelve month average and median values.  This means Braemar townhouse owners are giving more money in closing cost help.

Days on market, oddly enough, is unchanged whether you look at the average or median values from twelve months to six months.  Selling a Braemar townhouse is not taking any longer, or happening any faster.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it be under contract in a little over a month.  You could also expect to give nearly 1.5% of the sales price in closing cost help.

The next Braemar Townhouse Report will be out in January.  Until then, if you would like to begin receiving this report emailed directly to you, send me an email at ChrisAnn@LNF.com.  All I need is your property address and email address where you would like the report delivered.

Before the next report, if you find yourself needing to sell, give me a call 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

 

 

Just Sold: Four Bedroom Patio Home in Braemar for $355,000

Just Sold: Four Bedroom Patio Home in Braemar for $355,000

On June 12th (2018,) I was thrilled to list 9826 Earls Ferry Circle for sale at the price of $349,000.  It was a high demand home, having three large bedrooms and two bathrooms on the upper level and a fourth bedroom with adjoining full bathroom on the main level.  Main level bedrooms are hard to find.

Looking at the comparable sales, the most encouraging thing was a much more upgraded home of the same style at 9863 Earls Ferry Circle listed for $364,990 had gone under contract in only four days. With that quick marketing time, it was safe to assume it had a full price offer.  I had listed that very home at 9863 Earls Ferry for sale years before and it had been gorgeous then.  Unlike 9826 Earls Ferry, the home had been renovated to include hardwood floors on the entire upper level, the kitchen was decked out with granite counters, a tile back splash and a ceramic tile floor, the bathrooms had upgraded vanities, and it also had a new roof and newer A/C.  The difference between that home and my new listing at 9826 Earls Ferry seemed to be about $15,000 in upgrades.  So we chose the price of $349,000.  We had no kitchen upgrades outside of a new refrigerator, no upgrades to the bathrooms, no new roof, no hardwood floors in the bedrooms and no new A/C.  Seemed a very reasonable take on the competition and how we stacked up.

Within a day of being on the market, we had a full price offer, but the buyer wanted a lot of closing cost help.  So the seller waited  a few days to collect offers, and sure enough, got an offer at $360,000 in which the buyer had rolled their requested closing costs of over $10,000 into the increased sales price.  As I do with all my listings, I met the appraiser at the property with comps in hand.  All I needed was to show the home’s worth at a net sales price of $349K.  Most appraisers do take closing cost assistance into consideration.  The owners were also going to install new carpeting when their tenant vacated, as part of the contract with the buyer.  However, the appraiser wouldn’t take that upgrade into consideration.  The appraised value came in at $355,000.

Thankfully, the buyers and sellers were able to adjust other terms in the contract to keep the deal alive.  Nixing the new carpet from the contract saved the seller.  And the buyer lowered his closing cost help request to $8,500.  I was so bummed the appraisal hadn’t come in, but when I spoke with the listing agent of 9863 Earls Ferry, they expressed they had also had appraisal issues.   I couldn’t understand how, but that impacted us as well.

Despite our low appraised value of $355,000, which became our sales price, we still sold for more than the much better competition of 9863 Earls Ferry which sold for $350,000.  The net sales price difference was only $3,500 less, but I guarantee the updates in the competition were worth WAY more than that.  My sellers did very well as it turned out.  That’s the difference a local agent can make.

When you are ready to sell your Braemar home, give me a call at 703-402-0037.  I will never undersell your home.  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 Piggyback Quarterly: April-June 2018 (2nd Quarter)

Braemar Piggyback Quarterly: April-June 2018 (2nd Quarter)

Don’t you wish winter went by as fast as summer does?  We are about halfway through the summer, yet it feels like it just started.  Time flies when you are having fun.

Since we are past the end of June, it is time for another Braemar Piggyback Quarterly.  This report focuses on sales of piggback townhouses in our neighborhood.  These townhouses are not only attached on the sides, but along the back too.  They have no back yards, like traditional townhouses, but also have larger bedrooms than a traditional townhouse.  They also have two car garages.

During the second quarter, there were two Braemar Piggyback townhouses that sold.  Details of those sales are below:

When we take these sales and combine them with our rolling twelve month’s worth of Piggyback townhouse sales, here’s what we find when we update our six and twelve month values:

The six month average and median sold prices have slipped below the twelve month average and median sold prices.  That’s not great, but considering one of the two sales listed above is above both of the six month values, I’m not about to panic.  Seller subsidy (closing cost assistance from seller to buyer) is the same in the six and twelve month median, but the six month average seller subsidy is a little lower than the twelve month average.  That means buyers are willing to go without all of their closing costs being paid by the seller, just to get an offer accepted in this seller’s market.  Marketing time is about the same when looking at the six month values compared to the twelve month values.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect your home to be under contract in about three weeks.  You may also have to pay about 1/2% of the sales price in closing cost assistance to the buyer.

The next Braemar Piggyback Quarterly will be out in October.  Until then, when you want to know how the current market is affecting your home’s value, give me a call at 703-402-0037.  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