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

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

From the looks of the forecast for today, it seems as though we are going to have a really gorgeous summer day.  Not too hot and not too humid.  Hope you get out to enjoy something fun.  Maybe some time at one of our two community pools in Braemar.  Or a game of tennis at the under-utilized tennis courts.  For me, the outdoor fun can start after I type up this latest edition of the Braemar Reflection Quarterly.  It focuses on sales of the semi-attached single family homes on Tarvie Circle.

In the second quarter of 2018, there was only one Reflection home that sold.  Details are below:

When we take this one sale and add It to our rolling twelve months of Reflection home sales, here’s what we get:

There is a lot of good news when we look at the six month data points and compare then with our twelve month data points.  For starters, the six month average and median sold prices are higher then the twelve month average and median sold prices.  The seller subsidy (closing cost help to buyers) is lower in the six month average and median values compared to the twelve month average and median seller subsidy.  Finally, the marketing time (days on market) is one week in the six month average and median data points, which is slightly improved from the twelve month median, but drastically improved from the twelve month average.

If you placed your Braemar Reflection home on the market, priced to current conditions, you could reasonably expect it to be under contract in about a week.  you could also expect to give about 1% of the sales price in closing cost help to your buyer.

The next Braemar Reflection Quarterly will be out in October.  Until then, if you want to know how the current market conditions are 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

 

 

Advertisements

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 Patio Quarterly: April-June 2018 (2nd Quarter)

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

Welcome to another Braemar Patio Quarterly.  This one details the sold patio homes in Braemar during the second quarter of the year.  Without further delay, let’s get right to it.

There were two Braemar Patio homes that sold in the second quarter.  Their final sold prices ranged from $344,900 to $355,000.  Details of the sales are listed below.

When we take these two sales and add them to our rolling year’s worth of Braemar Patio home sales, here is what we find:

When we take a look at how these most recent sales of Braemar Patio homes change our six month average and median sold price, compared to the twelve month average and median sold prices, we find that in the more recent six month values, Braemar Patio homes are slightly higher in value than the twelve month values.  The time it takes to sell a Braemar Patio home hasn’t changed much, but the six month average seller subsidy (closing cost assistance to buyers) is about $1,300 lower than it was in the twelve month average seller subsidy.  This is all good news for Braemar Patio home owners.

If you placed your Braemar Patio home on the market, priced to current market conditions, you could expect it to be under contract in less than a week.  You might also set your expectations that a buyer may expect a little less than 1% of the sales price in closing cost help.

The next Braemar Patio Quarterly will be out in October and will include my most recent Braemar Patio home sale at 9826 Earls Ferry Circle.  It’s still a tad early to tell you what our final sold price will be since we don’t close until July 18th.  Until then, if you want to know how these most recent sales are affecting your Braemar Patio 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

 

 

Another Braemar Single Family Home Goes Under Contract

Another Braemar Single Family Home Goes Under Contract

On May 5th, I had the pleasure of listing 12146 Millbill Court in Braemar.  Pride of ownership was so obvious in this cul-de-sac charmer.  All the windows, sliding doors, hardwood floors, carpet, roof, gutters, deck and appliances had been replaced withing the last four years.  In that same time frame, the owners had updated the lighting and fixtures in the bathrooms, and added granite counters there and in the kitchen.

Initially, the home was priced at $508,000.  After three weeks on the market, the sellers received their first offer, but what the buyers wanted and the seller would accept were not intersecting at all.  After that, the sellers and I knew that a price improvement to $499,900 was in order.  A month after their first offer, another offer came in.  Again, no intersection between buyers and sellers, so there was no deal.

There were a handful of false starts with other buyers who expressed interest and then disappeared. Not every home goes under contract in less than five days, nor should it.  In this case, it took sixty-six days for the sellers to encounter a buyer that was willing to terms acceptable to them.  It took time and determination from this Listing Agent and the Sellers to prove to the market why this home was worth more than a lot of buyers thought.

This lovely home will close on August 31st, at which time the final sold price will be revealed.  Until then, if you want to know what your Braemar home is worth in the current market, 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 Condo Quarterly: April-June 2018 (2nd Quarter)

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

Pardon me for not getting on this earlier, but the 4th of July holiday being in the middle of the week made things a little crazy.  Typically, there isn’t a lot happening in the month of July in our local real estate market.  However, this month started out with a flash of activity.  It has left this Top Braemar Real Estate Agent feeling a bit confused as to what day it is.  Never a good feeling when it seems you have two Mondays in one week.

Enough of that!  Let’s get  to this edition of the Braemar Condo Quarterly, which covers condos in Braemar sold between April and June.  There were two Braemar condos that sold in the second quarter.  The details of those sales are below:

When we take these sales and combine them with our rolling twelve month collection of Braemar condo sales, here’s what we see in our six and twelve month data points:

While there is not much notable difference between the six month to twelve month sold prices and marketing time, there is a nice drop in seller subsidy from the twelve month average and median values to the six month average and median values.  That means more sales are happening in the short term with buyers requesting, or accepting, less money in closing cost assistance from sellers.  Good news for sellers!  Of course, that seller subsidy shrinking is typical in a seller’s market.  And judging from the days on market numbers being less than a week across the six and twelve month data points, we are most certainly in a seller’s market when it comes to Braemar condos.

What’s better to see is that the two most recent sales have sold prices above the six month median and average values.  If that continues in the third quarter we will see an increase reflected in the six month average and median sold prices compared to the twelve month average and median values.  That would mean Braemar condo prices are increasing.  As it stands, this report still shows longer term stable value.

If you placed your Braemar condo on the market, priced to current conditions, this report sets the expectation that your condo would be under contract in less than a week.  You could also reasonably expect that you would pay no more than one percent of the sales price in closing cost assistance to the buyer.

The next Braemar Condo Quarterly will be out in October.  Until then, if you want to know what your Braemar condo may pull in market value, give me a call.  Since 2005, No One Knows Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

 

 

Braemar Patio Home at 9826 Earls Ferry, Under Contract in Four Days

Braemar Patio Home at 9826 Earls Ferry, Under Contract in Four Days

On Tuesday, June 12th (2018,) 9826 Earls Ferry Circle in Braemar hit the market, priced at $349,000.  Being a patio home with hardwood floors on most of the main level and up the stairs and into the hall, as well as having a main level second master suite, I knew this home was not going to last.

The first day on the market we got an offer, but it wasn’t enough for the owners to take the home off the market.  So they set a deadline for offers of Saturday at 8pm.  In that time frame we had nine more showings and four attendees at our Saturday Open House.

Just as the sellers had desired, they received multiple offers.  Those were reviewed today and the sellers chose the one that worked best for them.  Some buyers wanted the home and didn’t feel they had time to make the offer.  Things move fast in this seller’s market.

While the final sold price of this patio home won’t be revealed until mid-July, the good news for other Braemar Patio home owners is that there are plenty of buyers looking for homes like yours.  If you want to place yours on the market, now is the time.  Call me at 703-402-0037 and I’ll be happy to consult with you about our market.  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 Open House: Saturday, June 16th (2018,) 1pm-3pm at 9826 Earls Ferry Circle

Braemar Open House: Saturday, June 16th (2018,) 1pm-3pm at 9826 Earls Ferry Circle

Even though 9826 Earls Ferry was just listed on June 12th (2018,) we’ve already got an offer.  Our first showing turned into an offer.  But there is so much interest in the home the sellers have decided to level the playing field and give as many interested buyers a chance as they can.

Stop by 9826 Earls Ferry Circle between 1pm-3pm on Saturday, June 16th for a last chance look at this home.  Offers are due 8pm that night, so come prepared.  Have your mortgage pre-approval, or proof of funds, ready to go.  You don’t want to have your offer nullified because you didn’t take care of that mortgage piece until after you found the home you wanted.  A seller’s market is no time to dilly dally.

This is most certainly going to be your last chance to see this home, if you haven’t seen it by now.  Stop by on Saturday and be ready to make an offer if this is the home for you.  And if you don’t have an agent, but want representation, let me know.  I’ve got agents standing by to help you out.  In the meantime, here’s a link to the virtual tour for as much of a tour as you can while sitting all comfy on your sofa.

For questions about this or any Braemar home, feel free to 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