Braemar Property Value Report: January-February 2021 (Ryan Homes)

Braemar Property Value Report: January-February 2021 (Ryan Homes)

It’s been a dreary, drizzly day in Braemar today. Nonetheless, the real estate market is ticking right along. I’ve talked to two potential Braemar sellers and shown property to a Bristow buyer in search of a townhouse today. Our market seems completely oblivious to passing events like weather and even the pandemic.

In this edition of the Braemar Property Value Report the focus is on resales of houses built by Ryan Homes in our neighborhood. Our reporting period for sales is the first two months of the year. Let’s get right to it.

There was one Ryan home that sold during our current reporting period. The details of that sale are detailed below:

At first glance, I find it odd that a home would sell for anything less than list price during this frenzied seller’s market. Especially a home that was only the market for six days. Nonetheless, it wasn’t that far off of its list price. Taking this sale and combining it with the entire past twelve months of Ryan Home sales, the six and twelve month data points in this report are updated as seen below:

Everything looks completely as I would expect seeing the six month average and six month median sold prices above their respective twelve month values. This means that Ryan Homes in Braemar are continuing to increase in value.

The seller subsidy column is where we see how much closing cost help buyers were able to negotiate from Ryan Homes sellers in Braemar. Not surprisingly, the six month average seller subsidy has decreased significantly from the twelve month average. Meanwhile the six month median is at zero…quite a change from the $4,000 twelve month media seller subsidy. Buyers are having to go with more seller favored terms in their offers to get accepted in multiple offer situations lately.

Days on market shows single digits down the line, five being the highest. No analysis needed. Ryan Homes are selling FAST.

If you placed your Ryan Home in Braemar on the market, priced to current conditions, you could expect it to be under contract in less than a week. You could also expect multiple offers with buyers dropping many typical contingencies and seller subsidy requests in an effort to be chosen.

The next Braemar Property Value Report will be out in May. Until then, when the time comes to sell your Braemar home, find out what my unparalleled market knowledge and top notch marketing can do for you. Sadly, even in a seller’s market there are homeowners leaving money on the table. 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 Property Value Report: November-December 2020 (Ryan Homes)

Braemar Property Value Report: November-December 2020 (Ryan Homes)

The end of a very long week has arrived. This day alone has felt like three days with the amount of phone calls I am getting on a Gainesville single family home listing that hit the market this morning. Buyer demand is beyond belief. We’ll talk about it in this installment of the Braemar Property Value Report, focusing on sales activity of properties built by Ryan Homes in our neighborhood.

This report looks back to November and December for sales activity. There was no Ryan Home that sold in these months because none where on the market. Had they been, they would have been bowled over by buyers. Despite the lack of activity, however, we have updated six and twelve month data points for the Ryan Homes sales activity in 2020. It looks like this:

Starting with the sold price column, we see both the six month average and six month median values are higher than the twelve month average and median values. This means that in the most recent sales, Ryan Homes were still pushing up in value.

The seller subsidy column is where we find out how much closing cost help buyers were able to negotiate from their Ryan Home sellers. The six month average seller subsidy is well below the twelve month average seller subsidy. Meanwhile, the six month median is at zero from $5,000 at the twelve month median mark. What that zero six month median means is that more than half of Ryan Home sellers in the last six months have given nothing in closing cost help. That’s what I am seeing across the board as more buyers compete in multiple offer situations in Braemar.

Days on market is stable down the line. The six month average marketing time is only one day shorter than the already short twelve month average marketing time. The six month median and twelve month median marketing times are identical.

If you placed your Ryan Home on the market, priced to current conditions, you could expect it to be under contract in less than one week. You could also expect to pay nothing in closing cost help, given the way the market is gobbling up houses.

The next Braemar Property Value Report will be out in March. Until then, when the time comes to sell your Braemar home, call me for a free market analysis. My sellers do better than they expect with my professional marketing and unparalleled neighborhood knowledge. 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 Property Value Report: November-December (Heritage Series)

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

Holiday Mondays have a tendency to throw my internal work schedule off. And with a typical Monday being my favorite day of the week, I’ve decided that this Top Braemar Real Estate Agent is just going to plow through the day, business as usual. And part of business as usual for me is compiling Braemar Property Value Reports. Today’s installment covers sales of the Heritage homes in our neighborhood. Heritage 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 three Braemar Heritage homes that sold in the last two months of 2020. The details of those sales are listed below:

The difference is sold price between the top sale on Conveyor and the other two sales on Erroll is about $100,000. That’s huge. However, bear in mind that the Exeter on Conveyor is the smallest in the Heritage Series. By contract, the Waverly model is one of the largest. And the ones on Erroll are also in the last area completed by Brookfield homes. This is one of the reasons we look at six and twelve month averages. When combined with the Heritage home sales from 2020, our six and twelve month data points are updated as seen below:

Both the six month average and six month median sold prices are higher than their respective twelve month sold prices. This means that Heritage homes in Braemar are continuing to rise in value. It’s likely we’ll see them peak in value late this year or early next, but we’ll only know we have hit the peak when values decline from that point in future reports.

The seller subsidy column is where we get to see how much closing cost help buyers negotiated in their purchase contracts with Braemar Heritage home sellers. What is surprising is that the six month average seller subsidy is a little higher than the twelve month average seller subsidy. Don’t get me wrong. It’s not by leaps and bounds, but a move in an unlikely direction, particularly when you look at the median values in seller subsidy. Both the six and twelve month median seller subsidy values being at zero means that in both time periods, more than half of Braemar Heritage home sellers gave nothing in closing cost help. Even the three most recent sales above all indicate nothing given in seller subsidy. It’s a tough market to negotiate closing cost help for buyers as they are in multiple offer situations on virtually every property. Sellers have the upper hand.

Finally we get to days on market. The six month average marketing time was six days shorter than the twelve month average marketing time. The six month median marketing time was one day shorter than the twelve month median, but both of them are in single digits.

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect it to be under contract in a week or so. You could also reasonably expect to give absolutely nothing in closing cost help.

The next Braemar Property Value Report will be out in March. Until then, know that our market is still experiencing extreme buyer demand and very limited inventory. If you have ever wanted to sell when you could make the most for your home, now would be the time. And when you list with me, you get top notch, professional marketing along with an unparalleled understanding our neighborhood market that will net you the absolute max in your sale. 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 Property Value Report: September-October 2020 (Ryan Homes)

Braemar Property Value Report: September-October 2020 (Ryan Homes)

Having closed out September and October, it is time to bring you another Braemar Property Value Report. Today’s report focuses on the houses built by Ryan Homes in our neighborhood.

There were two Ryan homes that sold during the last two months. As you will see by the details of both sales below, there is quite a bit of difference in their sold prices. What is not noted is the square footage of the homes. However, you have probably rightly guessed by now that the Chandler model is a lot larger than the Victoria model.

Taking these two sales and combining them with the entire past twelve months worth of Ryan home sales in Braemar, the six and twelve month data points are updated as seen below:

Everyone loves to start with the sold column, and so do I. Here we find that both the six month average sold price and the six month median sold price are higher than their respective twelve month sold prices. This means that Ryan homes are continuing to gain value in this seller’s market.

Seller subsidy, also known as closing cost cost assistance from seller to buyer, is another column that shows seller favored trends in the more recent sales. Both the six month average seller subsidy and the six month median seller subsidy are lower than their twelve month counterparts. In particular, I am loving the six month median $1,500 seller subsidy. This value means that of the Ryan home sellers in the last six months, more than half of them gave $1,500 or less. That’s another product of the intense buyer demand and scarce inventory we are facing.

Days on market shows us how long it took Ryan homes to go under contract. The six month average marketing time is nearly two weeks faster than the twelve month average marketing time. Better yet, both the six and twelve month median marketing times are in agreement at four days. This means that in both time periods, more than half of Ryan home sellers were under contract in four days or less.

If you placed your Ryan home on the market, priced to current conditions in Braemar, you could expect it to be under contract in less than one week. You could also expect to give very little in seller subsidy.

The next Braemar Property Value Report will be out in January. Until then, I wish you all the best this holiday season. Of course, if the need arises to sell your Braemar home, don’t hesitate to reach out. Our year end market is a very powerful time to sell. You may find waiting until spring to list unnecessary. Get in touch and I’ll be happy to show the benefits of listing in each market and we’ll figure out what works best for you. 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 Property Value Report: September-October (Arista Series)

Braemar Property Value Report: September-October (Arista Series)

It’s a gorgeous autumn day in Braemar. The sun is streaming through the trees, becoming more and more bare with each passing day. It’s one of those days where you may opt for air conditioning during the day, but will need the heat at night. The change from warm to cold doesn’t happen all at once.

The kind of change monitored here in the Braemar Property Value Report is changes in the real estate market. In this particular report, the focus in on the Arista Series homes in Braemar, which are the largest of the single family homes built by Brookfield Homes in our neighborhood. Their floor plans are the Allister, Buckingham and Canterbury.

Looking back at the last two months of Arista home sales, we find only one that closed between September and October. The details of that sale are found below:

Obviously, no trend can be determined by looking at one sale, or even a handful. That’s why I take this sale and combine it with the entire past twelve months of Arista home sales and pull out the six and twelve month average and median values. That’s where we find trends.

Looking first at the sold price column, we see that the six month average sold price has fallen ever so slightly below the twelve month average. Meanwhile, the six month median sold price is exactly the same as the twelve month median sold price. No increase by leaps and bounds in the Arista homes. Values are stable.

Seller subsidy is where we get to find out how much closing cost assistance sellers gave to buyers. The bad news for would-be Arista home sellers is that we see increases in both six month values over their respective twelve month values. That means, despite the most recent sale where no seller subsidy was given, Braemar Arista home sellers have been giving more closing cost help in the more recent sales as a whole.

Marketing time, marked above as days on market, shows very little change. The six month average marketing time is exactly the same as the twelve month marketing time. The six month median marketing time improved by one day from an already low six days in the twelve month median. Braemar Arista homes are selling quite quickly.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contact in about two weeks, if not in under one week. You could also expect to give an average of 1% of the sales price, maybe less, in closing cost help.

The next Braemar Property Value Report will be out in January. Then, we’ll be able to see how we finished up the year. Despite popular opinion, the year end market is a very powerful one in which to list. If the time has come to sell, don’t feel you have to wait until spring. Get in touch with me for a free market analysis and discussion on what a year sale could mean for you. 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 Property Value Report: July-August 2020 (Heritage Series)

Braemar Property Value Report: July-August 2020 (Heritage Series)

The arrival of fall is one of my favorite things in a calendar year.  Like many, I am anxious to see the brilliant display of fall foliage that is on the way.  In the meantime, allow me to share with you the most recent Braemar Property Value Report.  This one details sales of homes in the Heritage Series.  Heritage 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.

 

During the months of July and August, there were fourteen Heritage homes that sold.  That’s a lot, but still not enough to meet our current buyer demand.  Details of those sales are listed below:

Taking these fourteen sales and combining them with the entire past twelve months of Heritage home sales in Braemar, our six and twelve month data points are updated as seen below:

Starting with the sold price column, we see increased values in the six month average and median sold prices over the twelve month average and median sold prices.  This means Braemar Heritage homes are continuing to increase in value.  That’s the beauty of a seller’s market.

In the seller subsidy column, we learn how much closing cost help Braemar Heritage home sellers are giving in their transactions.  The great news is that it is not much, if anything at all.  The six month average seller subsidy has been whittled down about one thousand dollars from the twelve month average.  Meanwhile, the median values still show us that more than half the sales, in the last six months and during the last year, are giving nothing in seller subsidy.

Days on market is another column where we see the seller’s market condition in full swing.  The six month average marketing time is less than half the twelve month average marketing time.  Meanwhile, the six month median days on market is exactly that same as the twelve month median.  Heritage homes in Braemar are selling quickly!

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect to be under contract in about a week or less.  You could also expect that you would have enough leverage in negotiations to not give anything in closing cost help.

The next Braemar Property Value Report will be out in November.  Until then, if you want to take advantage of the peaking values this seller’s market is producing, know that the year end market is going to push them even higher.  Why?  There are even fewer sellers this time of year and I can tell you, the buyers are still out looking for homes.  Give me a call and let’s look at what a year end sale would mean for you.  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 Property Value Report: July-August 2020 (Arista Series)

Braemar Property Value Report: July-August 2020 (Arista Series)

The chill of fall is in the air and reminding me why I love this time of year so much.  Brightly colored leaves will be a welcome sight next month.  Unfortunately for buyers, it seems the coming of fall doesn’t seem to have lightened demand for housing.

Right now, it is time for another Braemar Property Value Report, detailing sales of homes in the Arista Series.  Arista homes are the large single family homes built by Brookfield Homes in our neighborhood and are one of three models:  Arista, Buckingham or Canterbury.

During our current reporting period of July and August, there were four Arista homes that sold.  The details of those sales are listed below.

Combining these four sales with the entire previous twelve months of Arista home sales, back to June 2019, our updated six and twelve month value points are updated as seen below.

Starting with the sold price column, we see that both the six month average and six month median values are both higher than their respective twelve month values.  This means that Arista home values in Braemar continue to push upward.

The seller subsidy column is where we see how much closing cost help sellers are giving.  While the six month median and twelve month median values are identical, indicating no change, the six month average is slightly higher than the twelve month average.  As our market demand continues to increase prices and move homes quickly, buyers in upper price ranges may be struggling to afford every cost associated with buying them.  We see that half of the sellers in our current reporting period gave closing cost help, the other half gave none.

The last column shows us how long it has been taking to sell Braemar Arista homes.  Both the six month average and median marketing times are faster than their twelve month counterparts.  This means Braemar Arista homes are selling faster.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contract in about a week.  You could also expect you may have to give some closing cost.  Expect the worst, hope for the best.

The next Braemar Property Value Report will be out in November.  Until then, if you have been looking for the top of the market to sell your Braemar home, we are nearing that point.  We will only know we’ve hit the top when we start to see prices falling.  Now is an excellent time to sell.  Get in touch with me if you want to investigate the sale of your Braemar home.  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 Property Value Report: May-June 2020 (Ryan Homes)

Braemar Property Value Report: May-June 2020 (Ryan Homes)

This summer in the Bristow real estate market has been one for the books.  Despite the pandemic that hit this year, our demand for housing has reached a fever pitch.  Normally, come July and August, our real estate market is pumping the brakes as would-be buyers become more focused on vacations and back to school activities.  Not this year.  This has been the busiest July I have experienced since getting my license in 2005.

In today’s Braemar Property Value Report, which features sales of Ryan Homes in our neighborhood, we will be looking back to the activity from May and June.  During those two months, there were two Ryan Homes in Braemar that sold.  The details of those sales are listed below.

When looking at the two sold prices above we notice quite a spread in the two sold prices.  Who would expect a home with an unfinished basement and one less full bathroom to close for more than a home those items?  Well, upon closer inspection, the home at 12821 Gentle Shade was a foreclosure in rough shape.  It need carpet, paint, floors refinished, etc.  Not uncommon to find that sellers would couldn’t afford their mortgage payments also couldn’t afford to keep up with their homes. Nonetheless, that’s the reason for the difference.

Combining these two sales with the entire previous twelve months of Ryan Homes sales in Braemar, we get updated six and twelve month value markers that tell give us insight to our market.  Those updated value markers are found below.

Looking first at the sold column, we find both the six month average and six month median sold prices are substantially higher than their twelve month counterparts.  This means Ryan Home values in Braemar are still rising.

The seller subsidy column shows us what Ryan Home sellers have been giving buyers in closing cost help on average.  I’m a bit surprised to see both the six month average higher than the twelve month average AND the six month median higher than the twelve month median.  In most reports, I’m finding as buyer competition has increased, seller subsidy has decreased.  We’ll keep an eye on that for next report.

The days on market column shows us how long it has taken Ryan Homes to go under contract in our Braemar market.  This trend is exactly what I would expect to see.  Both the six month values are faster than their respective twelve month values.  This means Ryan Homes have been selling faster in the more recent sales.

If you placed  your Ryan Home on the market, priced to current conditions in Braemar, you could expect it to be under contract in less than a week.  You could also expect to pay a bit more  than 1% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in September.  Until then, I hope you enjoy the rest of your summer.  And if the time comes to sell your Braemar home, give me a call.  With top notch marketing and unparalleled knowledge of our neighborhood, I can help you maximize your profit in any market conditions.  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 Property Value Report: May-June 2020 (Arista Series)

Braemar Property Value Report: May-June 2020 (Arista Series)

House hunting during July and August in Braemar can be brutal.  The heat and humidity can get to you, especially during a time when no overlapping showings can happen thanks to COVID.  I’ve been standing in the front lawns of quite a few area listings just waiting for my turn to show a property.  Couldn’t be happier than I am right now to be sitting in my air conditioned home typing this Braemar Property Value Update for Arista home owners in our neighborhood.  Arista homes are the large single family homes built by Brookfield Homes in our neighborhood and are one of three models:  Arista, Buckingham or Canterbury.

There were three Braemar Arista homes that sold during our most recent reporting period, which encompasses May and June.  The details of those sales are listed below.

At first glance you notice that the middle sale is highlighted in a pink.  That’s because that is a listing that I sold.  And looking in comparison with the other sales, it seems my sellers made out very well.  They sold in a shorter period of time than the other sellers, paid no closing cost help and considering the only three finished levels without a secluded lot, they did very well on their price.

When we take these three sales from May and June and compare them with the entire past twelve months of Braemar Arista home sales, we get updated six and twelve month data points, as seen below.

Looking first at the sold price column, we see that both the six month average and six month median sold prices are higher than their twelve month counterparts.  This means Braemar Arista homes are continuing to push up in value in this crazy seller’s market.

Another trend we see in a seller’s market is decreasing seller subsidy, or as it is also know, closing cost assistance.  Yes, the trend is certainly favoring sellers.  Both the six month average and median seller subsidy values are less than their twelve month counterparts.  Sellers aren’t having to give as much in closing cost help as they were.

Finally, looking at days on market, another seller’s market trend is clear. Both the six month average and six month median marketing times are shorter than their twelve month respective values.  This means Braemar Arista homes are selling faster.  Though these higher price range homes do tend to take a bit longer to sell than less expensive and smaller homes.

If you placed your Braemar Arista home on the market, priced to current conditions, your could expect it to be under contract in no more than a month, possibly even less time than that.  You could also expect you may have to pay less than 1% of the sales price in closing cost help.

The next Braemar Property Value Report will be in out in September.  Until then, when the time comes to sell your Braemar home, give me a call for the most accurate evaluation of your home and a professional marketing plan that will maximize your profit.  Since 2005, No One Knows Braemar Better!

Chris Ann Clelan

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

 

Another Late June Day, Another Braemar Home Sold

Another Late June Day, Another Braemar Home Sold

Yesterday I wrote about the Braemar home I sold at 9658 Granary Place Today, I’m here to tell you about the Braemar home I sold at 9725 Kinloss Mews.  While 9725 Kinloss Mews listed before 9658 Granary Place, as one of the largest homes in the neighborhood, I expected it would take about two weeks for it to go under contract.  It hit the market on May 15th (2020) priced at $610,000.  Sure enough, fourteen days later, it was under contract.

While the initial offer left a lot to be desired, the sellers decided that rather than reduce their price to catch another buyer, they would make a counter offer to the buyers who had taken the time to express interest.  The buyers accepted.

While the pandemic didn’t really affect our real estate market, it has impacted some supporting industries.  HVAC repair and service is one of them.  At least, that’s what Beltway Air Comfort Service would have us believe.  They failed three times to get the right parts over the course of weeks and, the day before settlement took five and a half hours to get the parts installed.  Didn’t even give my sellers a receipt.  When Mrs. Seller called to get a copy, she was told off by the owner of Beltway Air Comfort Service.  The owner was mad that he had to eat a 3% charge normally charged to customers paying by credit card (nothing I’ve heard of from the HVAC companies I recommend) because it wasn’t disclosed before my seller left town with her checkbook.  She was going to mail a check, but THEY made the choice to eat the charge.  They did the right thing and then blew all the good will by telling her off.  Then they went on to tell her they would de-prioritize her anytime she called for future service.  Who does that?  Once again, Beltway Air Comfort Service.  Note it and call any other company to service your HVAC if you want decent, professional service that knows how to treat their customers.

Thank goodness that even crappy contractors can get the job done, and despite taking a long time, it was done before the buyers signed for the home on June 26th.  Whew!

The final sold price of this Canterbury was $600,000.

If you are considering the sale of your Braemar home, we are experiencing high buyer demand and very low inventory.  That means we are in a seller’s market.  Give me a call for a free market analysis and my professional marketing plan that will get you top dollar and do it safely.  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