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

 

Braemar Piggyback Quarterly: January-March 2018 (1st Quarter)

Braemar Piggyback Quarterly: January-March 2018 (1st Quarter)

It is time for another Braemar Piggyback Quarterly market report.  In this report, we’ll look back at what happened in the first quarter of 2018 with regard to Braemar Piggyback townhouses.  We’ll also see how values are doing in the last six months and the last year.

If you aren’t familiar with what exactly a Braemar Piggyback townhouse is, allow me to explain.   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.

Unfortunately, there were no Piggyback townhouses in Braemar that sold in the first three months of the year.  However, that doesn’t mean we don’t updated data points to investigate. When we drop the first quarter of 2017 from our collection of Braemar Piggyback sales, our six and twelve month average and median values freshen up to look like this:

Generally, I don’t like seeing six month average and median values falling below the twelve month average and median values.  It is an indication that values could be falling.  However, since there weren’t any new sales to throw into this mix from the first quarter of 2018, we’ll have to wait and see what the second quarter brings us.  After all, the majority of Braemar real estate is on the rise, given the lack of inventory and continued, strong buyer demand.

If you did place your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to be under contract in about three weeks time.  You could also expect to pay $4,000 to $5,000 in seller subsidy (closing cost assistance.)

The next Braemar Piggyback Quarterly will be out in July and will cover activity from the second quarter.  Until then, if you want to get a more specific idea of your Braemar home’s value, 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 Townhouse Report: November-December 2017

Braemar Townhouse Report: November-December 2017

Probably the most concerning thing to a Braemar townhouse owner is trying to figure out who is the top Braemar real estate agent when it is time to sell.  A great place to start is finding one that knows the market, beyond cutting and pasting a market report that is so generic it applies as much to Sheffield Manor or Victory Lakes as much as it does to Braemar.  That’s certainly not my style.  Every two months, I’m here compiling the data for my Braemar Townhouse Report myself.  This particular report looks back to the sales activity to November and December.

For the purposes of this report, Braemar townhouses are not condos, patio homes or piggyback townhouses.  That means they are fee simple ownership, three level attached homes with back yards.  In other words, a traditional townhouse.

There were seven Braemar townhouses that sold in the last two months of 2017.  Their sold prices ranged from $277,128 to $354,900.  The details of each sale are listed below:

When we take these most recent Braemar townhouse sales and place them with our rolling six and twelve months values, what we find is the average sold price in the last six months is a little higher than that in the last twelve months.  However, the median sold price in the last six months is a little lower than that in the last twelve months.  A little high in one and a little low in the other is good indicator of stability in value.

Seller subsidy (closing cost assistance) is up in both the six month values compared to the twelve month values.  And marketing time (DOM) is up a bit in both the shorter term values compared to the longer term values.

If you were to place your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in a little over a week or two.  You could also expect to pay about 1.5% of the sales price in closing cost help to the buyer.

The next Braemar Townhouse Report will be out in March.  Until, feel free to call this top Braemar Real Estate Agent when you are ready to sell. 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