Braemar Townhouse Report: November-December 2021

Braemar Townhouse Report: November-December 2021

As we all brace for the impending winter storm, I am comfortable in my home office doing what I do best–real estate! The business of real estate is one that can be taken as seriously as the individual agent practicing it sees fit. Braemar real estate isthe foundation of my business. Bringing you the latest market information is something I take very seriously. This are not copy and paste reports. I run the data and compile it myself.

Today, rounding up the last of the year end reports for 2021, is the Braemar Townhouse Report. The properties that this report pertains to are traditional three level townhouses with front and back yards, attached side to side only. They are not to be confused with Braemar Condos, but you can find the report for the Braemar Condo townhouses by clicking this link.

There were six Braemar townhouses that sold during the last two months of 2021. The year market is not to be dismissed. The details of those sales are listed below:

Of the six sales, one is highlighted in pink. That is because it was my listing. You can read the details in the post I wrote about that sale. What is evident looking at all six sales is that most are selling at a minimum of a list price, the majority gave no closing cost help and they all sold in a matter of days. However, it is only when taking all of 2021’s Braemar townhouse sales and compiling updated six and twelve month market reports that we get to see trends.

Starting in the sold price column, we see only the six month average is higher than its respective twelve month value. The six and twelve month median values are the same. Furthermore, the growth rate of Bramar townhouses in the average has slowed. This report the six month average is 1.5% higher than the twelve month average. Last report, that was a 3.6% difference. The median last report was a 3.3% difference vs. zero this report. The second half of 2021 was not as frenzied as the first half. Buyers slowed their pace once summer vacations started and it never really got as insane as it had been earlier in the year.

Seller subsidy is something we have not seem much of in regard to Braemar townhouses. The average numbers are the only ones with anything to report and the averages are miniscule. Out of seventy-three sales, only six gave any closing cost help in 2021. One was a townhouse where I represented the buyers. Another was the one this report where I represented the seller. In the case of the one where I represented the buyers, we went in with the request because of the condition of the home. In the one on Selkirk listed above in pink, the buyer came in with no seller subsidy requests, but had a list of demands come home inspection. Rather than ditch them and move on to another buyer, my seller decided to strike a deal with them. Thankfully, we were able to negotiate that down to less than they requested.

Days on market shows that the time it took in the six month average and six month median, compared to their respective twelve month values, increased by one day. That is nothing to worry about.

If you put your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in about one week. You could also reasonably expect to give nothing in closing cost help. However, you could expect to see the typical contingencies in your offers. Those are financing, appraisal and home inspection.

The next Braemar Townhouse Report will be out in March. Until then, if you want to know what is in store for the 2022 market, you can read my predictions by clicking this link. If you want more personalized information for an impending move, get in touch. My neighborhood knowledge, combined with my professional marketing, makes 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

Just Sold: A Braemar Christmas Season Closing

12423 Selkirk Circle Sold for $375,000 on December 21, 2021

When I was contacted by the owner of 12423 Selkirk, my mind twirled over the familiarity of the address. Had I listed that home before? I know that I had listed a Braemar townhouse on Selkirk years ago that was a Short Sale. Despite many attempts to make the bank understand why Short Sale was a good idea for upside down sellers who had outgrown the space and needed to move, the bank would not approve that sale. Sure enough, a quick glance at my past listings and 12423 Selkirk was that townhouse.

Looking back at the tax records for the property I saw that indeed, my failed Short Sale listing had turned into a bank owned property. Simply stated, the bank that had refused to come to terms with the sellers in 2012, had foreclosed. In 2013, it sold from the bank to a private owner, sold again in 2015 from that 2013 purchaser, and again in 2017 from the 2015 purchaser. The new owner purchased it in 2017 and was ready to move on.

At the listing appointment I told the owner my familiarity with the property. In addition to expressing my neighborhood expertise in Braemar and my professional marketing, I added that on a personal note, I would love the opportunity to have a good outcome by listing the townhouse. My marketing is all professional grade now with professional photographs and even some light staging in vacant homes. I was so thrilled to be hired to do just that. Take at look at the virtual tour.

This two bedroom townhouse listed on November 11th and was under contract within five days! The hardest part in getting to the closing table was negotiating the home inspection. Yes, the market has changed enough where home inspection contingencies are being seen more often than not. The buyers, through their agent, over-estimated the cost of many items they deemed as problems. Part of my job in that situation is to convey that small items of concern are not legitimate problems, and to help the seller get quotes on actual solutions. A home inspector will see a light not operating and tell a buyer to consult an electrician. I change a lightbulb, snap a photo that the light is working and the issue is dissolved. You get the idea. The repair credit of the buyers was negotiated down by about 30% to a number the seller could deal with to move the deal forward.

Today, December 21st, this Braemar townhouse closed for full list price of $375,000. There is always more to the yearend holiday market than meets the eye.

Whenever the time comes to sell your Braemar townhouse, I would love the opportunity to help you achieve the most successful outcome. I have made it my business to know our neighborhood inside and out. 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 Townhouse Report: September-October 2021

Braemar Townhouse Report: September-October 2021

December will be here in a couple of days. While you might think the Braemar real estate market would have nothing to offer this time of year, I am pleased to say that the yearend selling season is one of the best around. Serious buyers are out at a time that stresses “home for the holidays.” The emotions of the season certainly help sell homes. Better yet, many sellers wait for spring, leaving fewer homes for those serious buyers to chose from. My real estate business has thrived this time of year and continues to do so. Of course, I always make time to keep Braemar home owners apprised of market conditions in the property value reports I prepare. Today I bring you the Braemar Townhouse Report, focusing on sales of traditional three level townhouses in Braemar, attached side to side only.

During the current reporting period of September and October, there were thirteen Braemar townhouses that sold. The details of those sales are below:

Looking at these sales we see all thirteen sold at, or above their list price. All but one gave no seller subsidy (closing cost help to buyer.) Meanwhile the sales that closed in late September and into October had higher days on market. Taking these sales and combining them with the entire past twelve months of Braemar townhouse sales we will get a better snapshot of current trends in the townhouse market when the data points tracked in this report are updated.

Looking at the sold price column, Braemar townhouses are continuing to gain value. Both the six month average and the six month median sold prices are higher than their respective twelve month sold prices. This is proof of the continued seller’s market. The rate of increase in value has slowed slightly since last report, but not enough to be concerned about. Both the six month average growth rate and six month median growth rates are down 0.3% since July and August.

Seller subsidy shows a decrease in the six month average compared to the twelve month average. Meanwhile, with the six and twelve month median values both at zero we know that in both time periods, more than half of Braemar townhouse sellers gave no closing cost help. Another hallmark of a seller favored market.

Days on market, despite the upward trending numbers in the two months worth of most recent sales, shows no serious change. When looking at the six month average and median marketing times compared to the corresponding twelve month values, Braemar townhouses are still going under contract in about a week or less.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it could be under contract in about a week. While some of the most recent sales on the calendar suggest it may take a bit longer, my most recent Braemar townhouse listing went under contract in only five days this November. You could also expect you could escape any seller subsidy requests since buyer demand is still outpacing supply. However, the second half of the year has shown buyers less willing to waive contingencies like home inspection and appraisal. The all-out buyer frenzy has cooled, though the market remains a seller’s market.

The next Braemar Townhouse Report will be out in January. Until then, I do hope the holiday season brings you peace and happiness. Of course, anytime the need arises to sell your Braemar townhouse, I am here with all of my neighborhood expertise, professional marketing and superior negotiation skills to help you make the absolute most you can from your home sale. Unfortunately, even during a seller’s market, money is too often left on the table. Hiring a local professional will help you increase buyer enthusiasm and maintain it throughout the process. Helping Braemar sellers is my specialty. Get in touch with me for a 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 Townhouse Report: May-June 2021

Braemar Townhouse Report: May-June 2021

Last, but not least in the series of May-June Braemar market reports, I bring you the Braemar Townhouse Report. This report focuses on the sale of traditional three level townhouses in our neighborhood. Traditional townhouses are those with three levels with a back yard that are NOT condos.

During the months of May and June, there were sixteen townhouses in Braemar that sold. I was so very happy to represent the buyers of the one highlighted in blue. Details of all of the sales are listed below:

There is a wide variety in final sold prices because there is a variety in sizes and styles of traditional townhouses in Braemar. Of the larger one car garage townhouses, my buyers got a fantastic deal on Drum Salute. The home did not show well, but that was a plus for us. It only needed new flooring, some paint and a good cleaning. They were able to negotiate $8,000 in closing cost help to offset that cost, have a home inspection and still get a killer deal. If they turned around and sold the home after the improvements, they could actually make money.

Taking all of the sales listed above and combining them with the entire past year of Braemar townhouse sales, our six and twelve month data points show more seller favored trends.

Starting in the sold price column, it is no surprise to see the growth that happened in the six month average and median compared to the twelve month average and median values. Townhouses have been gaining value quickly in this market with little inventory and an overload of buyers.

Seller subsidy is where we find out what amount of closing cost help Braemar buyers were able to to negotiate from their townhouse sellers. My buyers and one other were the only ones in the sixteen recent sales that negotiated any closing cost help in May and June. Looking at the six and twelve month median, more than half of sellers in both time frames had to give nothing. The six month and twelve month averages show that seller subsidy is becoming more rare. It is highly unlikely to have a buyer request closing cost help if your home is properly prepared for market. Doing nothing in a seller’s market costs a seller.

Days on market shows the seller’s market in all its glory with single digits down the line. Braemar townhouses sell very quickly. Even in the sixteen most recent sales listed, only one took two weeks to go under contract.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect your townhouse to be under contract in a week or less. You could also expect, if you did the work to make your home shine, to give nothing in closing cost help.

The next Braemar Townhouse Report will be out in September. Until then, when you are ready to sell your Braemar townhouse, don’t fall victim to leaving money on the table. Get my expert advise on listing preparation and take full advantage of my professional marketing for the absolute max the market will bear for your home. You only get one chance to get the equity out in a sale. Who you hire matters. 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 Townhouse Report: March-April 2021

12858 Wishing Well Way Sold for $425,000 on 4/5/21

Braemar Townhouse Report: March-April 2021

Today I bring you the most recent Braemar Townhouse Report. This report looks back on the months of March and April this year for the most recent sales of traditional Braemar townhouses and updates six and twelve month value points so we can see how our market has changed. Before we begin, a traditional townhouse is one attached only side by side, has three level and a back yard. Knowing the type of townhouse included in this report, let’s get right to it.

There were fifteen sales of Braemar townhouses in the last two months. Details of those sales are listed below:

First thing you may notice is a sale highlighted in pink. That’s because it was my listing. And if I may say, my seller made out very well. She sold for $31,000 above list price for the third highest sold price of this reporting period. Why not the highest? She had no deck, no fence, an original kitchen, original roof and sunken driveway. What she DID have was brand new LVP flooring on the main level, new carpet, fresh neutral paint and new HVAC. Getting her home well prepared for showings and professionally photography created the buyer enthusiasm that lifted her sold price above where it would have been otherwise. I say that because townhouses that were more updated sold for less because the marketing/photography was lacking. I am not a listing agent that “mails it in.”

The second thing that you will visually notice is zeros all the way down the column in seller subsidy. This means no townhouse sellers gave anything to buyers for closing cost help.

Finally, days on market shows single digits in all but one townhouse sale for the current reporting period. Cell phone photos never do a home justice. This one was gorgeous. And unfortunately, it sat for longer than it probably should and likely, sold for less than it should. Who you hire matters, even in a seller’s market. In this deal, a contract fell through and the property had to go back on the market, making buyers fear something was wrong with it. That’s why vetting offers is so important, as is having a ratified back up offer to go to. You better believe my listing had a ratified back up offer.

Taking these sales are combining them with the entire previous twelve months of Braemar townhouse sales, the six and twelve month value points are updated as seen below:

Starting with the sold price column, it is not a surprise to see the six month average and median sold prices higher than their respective twelve month values. This means Braemar townhouses are still going up in value.

Seller subsidy is a little surprising in that the average figures in both the six month and twelve month time frames actually has a value. Only twenty sales of the sixty-eight in the past twelve months have given seller subsidy. The most recent was in January this year.

Days on market shows the trend happening across the board in this seller’s market. Braemar townhouses are selling a matter of days.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect to be under contract in less than a week. You could also expect to land a buyer willing to go without seller subsidy and possibly a lot of contingencies like home inspection, radon inspection, financing and even appraisal. Buyers are having to be ultra competitive to win in multiple offer situations.

The next Braemar Townhouse Report will be out in July. Until then, get in touch with me if you would like to sell your townhouse. As illustrated above, you don’t have to be the best townhouse on the market to get one of the highest sold prices. Conversely, if you don’t take hiring the right real estate agent seriously, you could have a better townhouse and make less money. Well prepared properties that are professionally marketed get the biggest bucks and I’ve been helping Braemar sellers with that for many years. 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 Townhouse SOLD $31,000 Over List Price!!

12858 Wishing Well Way Sold for $425,000 on April 5, 2021

Braemar Townhouse SOLD $31,000 Over List Price!!

On February 26th (2021,) I had the pleasure of bringing 12858 Wishing Well Way to the market, listed for $394,000. Having been helping a couple make offers on Braemar townhouses, I knew the market was out of control with buyer demand. And I had already run comps on this townhouse when my buyers wanted to make an offer on 10123 Pale Rose Loop. That was listed for $380,000. That was an absurdly low list price and I knew it. And sure enough, the agent there said they received two dozen offers and my buyers’ offer at $390K with free rent back was the weakest offer.

By the time we listed 12858 Wishing Well, 10123 Pale Rose had sold for $422,500. Pale Rose had been a home with a lot of interior updates, the most grand being the kitchen. It was an interior unit with a deck and gorgeous main level hardwood floors. It also had updated bathrooms. My listing on Wishing Well was end unit with a new HVAC and updated laminate wood flooring on the main level and upper level hallway, with hardwood on the upper level staircase as a transition. It had no deck, original kitchen and bathrooms. I prepped my seller for an appraised value of $405,000 to $410,000 if we were lucky.

After four days on the market we had eleven offers. Turns out we didn’t need two dozen to hit really high offers. One bid $450,000, but didn’t waive appraisal. That meant it would sell for appraised value. One offered cash at $420,000, but had an outdated, illegible proof of funds and wanted inspection contingencies. My seller made it clear she didn’t want to go through inspections and haggle with repairs. And with a sunken driveway (actually, an elevated sidewalk due to tree roots pushing up the concrete) we eliminated every FHA and VA loan so that wouldn’t get flagged as a safety concern on appraisal. That left one stand out offer– $425,000 with no inspections, conventional loan with financing and appraisal contingencies, but with a $30,000 low appraisal guarantee. That meant if the townhouse only appraised for the list price, it would still sell for $424,000. It was as close to guaranteed money as you could get.

Even though the buyers had expressed their need of an appraisal, but had pre-negotiated the outcome of a low value, nothing was required of me. That doesn’t mean I didn’t still get the appraiser a package of comparable sales, the offers we had received and list of updates. (HVAC and flooring are definitely worth something.) The goal was to keep the buyer’s additional down payment to a minimum. Real estate transactions are best when both parties have a win. My seller was winning with the sales price. Time to help them out. Sure enough, I got it to appraise at the sales price.

Today, April 5th, this one at 12858 Wishing Well closed at $425,000. Higher than a mega new kitchen, updated bathrooms and deck on 10123 Pale Rose Loop. Woo-hoo!

Any agent can get you multiple offers on your home in a seller’s market. I will get you every penny the market will allow. Two times more offers doesn’t always mean more money. Who you hire matters. 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 Piggyback Quarterly: October-December 2020 (4th Quarter)

Braemar Piggyback Quarterly: October-December 2020 (4th Quarter)

As this Saturday work day draws to a close for this Braemar Real Estate Agent, I am bringing you another property value update. This installment is the Braemar Piggyback Quarterly and focuses on the fourth quarter sales of the two car garage townhouses in our neighborhood that are attached back to back and side to side. For the record, these are the only two car garage townhouses in our Braemar neighborhood, so if you have a two car garage townhouse, this report is for you.

During the last three months of 2020 there were two Braemar Piggyback townhouses that sold. The details of those sales are listed below:

Taking these sales from the fourth quarter and combining them with the entire year’s worth of Braemar Piggyback townhouse sales from 2020, our six and twelve month data points are updated as follows:

To start, the sold price column shows a very small increase in average value from the twelve month sold price to the six month sold price. On the other hand, an even smaller decrease is seen going from the twelve month median sold price to the six month median sold price. Had it not been for the most recent Braemar Piggyback townhouse sale of $370,000, I would be the first to say this is what market value stability looks like. However, it seems that we’re likely to see these two car garage townhouses in Braemar continue to push up in value as we move into 2021.

The seller subsidy column reveals a great trend for Braemar Piggyback townhouse sellers. The six month average seller subsidy (closing cost help to buyers) is at zero, down from over $3,400 average seller subsidy in the twelve month average. That means the latter half of the year, as buyers were competing for the limited inventory available, fewer asked for closing cost help. The fact that the six month median and twelve month median seller subsidy numbers are the same at zero tells us that in both of these time periods, more than half of the Braemar Piggyback townhouse sellers gave nothing in closing cost help. Even our most recent sales from the fourth quarter have zero seller subsidy.

Finally, we come to the days on market column. The already very reasonable eleven days on market found in the twelve month average shrunk to six days in the six month average. Meanwhile, the difference in the twelve month median vs. the six month median was only one day less of marketing time in the recent sales. Our market is gobbling up properties very quickly as there is hardly anything on the market.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to be under contract in less than one week. You could also expect that would not have to give any seller subsidy at all.

The next Braemar Piggyback Quarterly will be out in April. Until then, know that Braemar homes are peaking in value this year. The year 2021 has been predicted to be one more year of low inventory and high buyer demand. We won’t know when we’ve hit the market peak until values start their decline, so if you’ve been waiting to get top dollar for your Braemar home, get in with me and let’s take a look at what the market conditions mean in a potential sale for you. Since 2005, No One Knows Braemar Better!

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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

Yet Another Braemar Townhouse SOLD

Yet Another Braemar Townhouse SOLD

Earlier this year, I sold 9619 Innerwick Place in Braemar.  It was a nice surprise when the neighbor at 9617 Innerwick Place called me to list her townhouse shortly before her end unit neighbor closed.  While I took the listing in early February, it didn’t hit the market until May.  The seller took the listing preparation notes that I had given her and got to work to get the maximum dollar amount for her home.  A quick discussion about selling “as-is” made her realize the work to ready the home was worth the money she would make.

On May 13th, this interior unit townhouse hit the market priced at $375,000.  It only took three days before multiple offers were there for the seller to review.  The one that she ratified went to settlement on June 29th.  It was a full price sale at $375,000 and the seller didn’t have to give any closing cost help.

Right now, despite the pandemic, the Bristow real estate market is hot.  Sellers are in control as there is more buyer demand than there are homes to sell them, particularly in properties that attract first time buyers.  If you have a Braemar townhouse you want to sell, give me a call to find out how I can get you top dollar while marketing your home with safety as a top priority.  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

Are Braemar Townhouses Still Selling During the Pandemic?

Are Braemar Townhouses Still Selling During the Pandemic?

The overwhelming answer to that question is YES.  On May 13th (2020,) I introduced 9617 Innerwick Place to the market.  Priced at $375,000, it was a value for a Braemar garage townhouse.  It has an original roof, HVAC and carpet in need of replacement on the upper level.  However, the home owner did the preparation she could and got the home painted from top to bottom and cleaned.  And with a three level bumpout, fresh sod in the fenced back yard and a replaced patio, there was much to love about the home.

There were a total of thirteen showings during five days on the market.  In the end, the seller got to choose from multiple offers and was delighted with getting under contract so fast.  The obvious fear was that COVID would negatively impact our real estate market.  Clearly, it is not.

This one will close near the end of June.  Of course, I will keep you posted on final sold price.  Until then, if you need to sell your Braemar townhouse, don’t hesitate to call me.  There are a record number of jobs being created by the Micron expansion in Manassas and the workers are eating up our Braemar townhouses.  I can help you safely list and still get max 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

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