Braemar Property Value Report: September-October 2019 (Ryan Homes)

Braemar Property Value Report: September-October 2019 (Ryan Homes)

On this Thanksgiving Eve it is my pleasure to present another Braemar Property Value Report.  This particular report covers the sales of homes built by Ryan Homes in Braemar during the months of September and October.

There were two Ryan Homes that sold.  Sold prices were substantially different at $475,000 and $512,000.  The details of both of those sales are below:

Combining these two sales with the entire past twelve months of Ryan Home sales in Braemar, our six and twelve month data points are updated to reveal the following:

Looking first at the sold price column, it is great to see both the six month average and six month median sold price above their respective twelve month values.  This means the values of Ryan Homes in Braemar are still pushing up.

When it comes to seller subsidy, which you may know as closing cost help to buyers, we see a trend that doesn’t favor sellers.  Both the six month average and six month median seller subsidy figures are higher than their respective twelve month values.  This means buyers have been requesting, and receiving, more closing cost help in the more recent deals.  This could be an early indication of a shift from a seller’s market coming our way.  Seller subsidy tends to decrease in seller favored markets.

Finally, the days on market column reveals not much of a change in marketing times from the six month average value from the twelve month average.  And there could not be more evidence of stability in marketing time than seeing that 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 under three weeks.  You could also expect to pay about 1% of the sales price or so, in closing cost help.

The next Braemar Property Value Report will be out in January.  I hope you will enjoy your holidays in the meantime.  Of course, if the need arises to sell your Braemar home before you next hear from me with another of these reports, please don’t hesitate to get in touch.  I work every month of the year getting top dollar for my Braemar sellers.  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: September-October 2019 (NV Homes)

Braemar Property Value Report: September-October 2019 (NV Homes)

As soon as I finish typing up this most recent Braemar Property Value Report, I am heading to the grocery store.  There is nothing more stress inducing this time of year than having to grocery shop on Wednesday, or even Tuesday, before Thanksgiving.  One of the joys of being a Braemar Real Estate Agent is that I can do my chores during regular business hours while the nine to five world is working.

In this edition of the Braemar Property Value Report, I focus on sales of homes built by NV Homes in our neighborhood during the months of September and October.  During that time, there were two NV Homes that sold.  The details of those sales are listed below:

Taking these two sales and combining them the entire last twelve months of NV Home sales in our neighborhood, our six and twelve month data points are updated. These are the data points that give us indications as to where our market is heading.  Our updated data points are pictured below:

Looking first at the sold price column, we see that both the six month average and six month median sold prices are below their respective twelve month values.  This is not a good sign, and if it is continues in the next report, could indicate the softening of values of the larger single family homes in Braemar.  Given the other data points, it may just be a fluke this report.  Allow me to continue.

Seller subsidy, also known as closing cost help to buyers, shows a trend indicating competitive demand.  Both the six month average and six month median seller subsidy value are less than their respective twelve month values.  This means buyers have been asking for less closing cost help, which is is generally an indication of a healthy, seller favored market.

Days on market is another column that shows stability to seller favored conditions.  The six month median marketing time is exactly the same as the twelve month median marketing time.  Meanwhile, the six month average marketing time has shortened by three days from the twelve month average marketing time.  NV Homes aren’t taking any longer to sell, and may in fact, be selling a tad faster.

If you placed your NV Home on the market, priced to current conditions, you could expect it to be under contract in less than three weeks.  You could also expect to pay about 1.5% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in January.  Until then, I wish you every happiness this holiday season.  Of course, if the need arises to sell your Braemar home before our next report, don’t hesitate to call, text or email me.  I sell Braemar homes for top dollar no matter the season!  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 2019 (Ryan Homes)

Braemar Property Value Report: May-June 2019 (Ryan Homes)

With just a few days left in July, I’m getting the last of the Braemar Property Value Reports out for public consumption.  It’s an internal deadline that I set for myself that I will have these out by the last day of the month following the reporting period.  Real estate agents being independent contractors with no one to answer to, setting deadlines is a business practice you will find among top agents.

This particular Braemar Property Value Report covers the sales of single family homes, built by Ryan Homes, during the months of May and June.  During that time, there were four resales, ranging in sold price from $475,000 to $570,000.  Details of those sales are listed below.

Taking these sales above and combining them the entire preceding twelve months of Ryan Home sales, we get new six and twelve month data points, pictured below.

Examining the trends in the sold prices, there is an increase in both the six month average and six month median sold prices from their respective twelve month values.  This means Ryan Homes are still pushing up in value.

When it comes to seller subsidy, a.k.a. as closing cost assistance to buyers,  a trend presents itself that does not favor Ryan Home sellers.  Both the six month average and six month median seller subsidy values are higher than their twelve month counterparts.  This means buyers have been asking for, and receiving, more seller subsidy in the most recent sales.

Days on market, a category that has become unreliable with a change in how that data is recorded in our new MLS, which was adopted in November 2018, we see that the six and twelve month averages are the same.  The six month median is only one day shorter than the twelve month median.

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

The Braemar Property Value Report will be out in September.  Until then, if you want to investigate what the market might bring in regards to your own home’s value, give me a call for the most accurate, free, market analysis.  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 2019 (Heritage Series)

Braemar Property Value Report: May-June 2019 (Heritage Series)

10024 Naughton Court in Bristow went under contract in 1 Day.

What’s a Top Braemar Real Estate Agent do on the weekend when they aren’t showing property on Saturday?  Research the market and put out another Braemar Property Value Report of course!  This particular edition focuses on sales of Heritage Series homes in Braemar between May and June. Heritage Series 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 nine Heritage homes that sold in Braemar between May and June.  Exactly the same number of Heritage homes that sold in our last report, by the way.  Sold prices ranged from $425,000 to $539,000.  Details of those sales are listed below.

You may immediately notice that the last sale is highlighted in pink.  That is because that was a home that I listed and sold.  It was great to be able to help the seller of 10024 Naughton Court get multiple offers and sell above list price.  Selling Braemar homes for top dollar is my specialty.

Taking these nine sales from May and June and combining them with the entirety of the last twelve months of Heritage home sales, we get updated six and twelve month data points.  Here’s what they look like now:

Let’s start with a quick look at sold prices.  The six month average sold price is higher than the twelve month average sold price.  Meanwhile, the six month median sold price is exactly the same as the twelve month median sold price.  The former indicates rising values.  The latter indicates stability.  Either way, home values aren’t falling.  We’ll just wait to see if there is a more definite trend next report.

In the category of seller subsidy, a.k.a. closing cost help to buyers, there is a definite trend and it favors sellers.  The six month average seller subsidy is lower than the twelve month average seller subsidy.  While the six and twelve month median values are the same, they are holding at zero closing cost help.  In this market of high demand and low inventory, buyers are having to forego large closing cost requests to win in multiple offer situations.

When it comes to days on market, we have not yet gotten to the point of having twelve solid months of marketing time data from our new MLS.  It won’t be until January 2020 that we do.  So for now, any trend here is unreliable.  That said, this report shows that the average days on market is unchanged from the twelve month value to the six month value.  Meanwhile, the six month median days on market is shorter than the twelve month median days on market.

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement within a week or two and a half.  As for closing cost help, if you had to give any, it would likely be minimal.

The next Braemar Property Value Report will be out in September.  Until then, when you are ready to investigate the sale of your Braemar home, give me a call.  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

 

Just Sold: Semi-Detached Single Family Home in Braemar

Just Sold: Semi-Detached Single Family Home in Braemar

9684 Tarvie Circle sold for $444,000 on May 31, 2019.

It’s always a great feeling to sell a home for a Braemar seller, and have the buyer that purchased it come back and hire you to sell it again.  As a matter of business practice, I will not practice dual agency, which is where I would represent both sides of a transaction.  No matter what happens, even if a relative wants to buy my listing, I refer the buyer to another agent.  My business practice as a Top Braemar Listing Agents is to stick with my sellers.  So when these buyers that have hired me to sell the homes they purchased as my listings, it is an honor.

In the case of 9684 Tarvie Circle, it was a particularly great feeling because the seller was a licensed real estate agent, whose license was on referral.  Did she know a lot of other agents?  Yes!  Did she have agents that were former business associates she had worked with?  Yes! Yet she called me to sell her Braemar home.  Why?  Because she knows my reputation in the neighborhood and my sales record.  She knew I would get it done right and for top dollar.

Kitchen, 9684 Tarvie

The property had been improved since the owner purchased it in 2016 for $404,000.  The powder room had been completely renovated to feature a floor to ceiling tiled accent wall.  The kitchen was looking great with the new granite counters.  And the modern touch of the ship-lap accent wall in the family room, along with updated light fixtures and brand new carpet on the upper level, took years of this home’s appearance.  In addition to visually appealing updates, the home essentially got organ transplants with two new HVAC units.  Given the amount of updates, listing at $439,000 didn’t seem optimistic at all.  That much gain in less two and a half years is not typical, but these owners really did make the home shine.  If they had finished the basement, they could have listed for much more.

Ridiculous to have to prove those steps down were within the property lines with a survey.

One of the reasons that this seller chose me is my connection to the on-site management staff. Living in the neighborhood and serving on my sub-association board, I have developed relationships with the staff from CMC that allow me to help sellers solve HOA violations quickly.  In this case, there was no getting around the need to physically draw five steps down from the family room to the back yard on a survey of the yard.  When you make modifications to your Braemar home, you need to apply for them.  Rather than spending $350 on a survey to complete the application, thereby correcting the violation, I proposed a solution that made the need for the survey much cheaper for the seller, and very attractive for the buyer.  The seller and buyer split the cost of the survey.  Don’t get me started on why this process of drawing these steps that came about two and a half feet out from the back of the was even necessary.

Not surprisingly, this semi-detached home on Tarvie Circle had multiple offers after two days on the market.  It sold above list price for $444,000 on May 31st.

When the time comes to sell your Braemar home, give me a call for a consultation about the market and what you can expect in terms of price and how long it will take to sell.  Selling Braemar homes is my specialty.  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: March-April 2019 (Ryan Homes)

Braemar Property Value Report: March-April 2019 (Ryan Homes)

As I type this edition of the Braemar Property Value Report, featuring sales of houses in Braemar built by Ryan Homes, Memorial Day Weekend is coming to an end.  I hope everyone is out there enjoying every minute.  Back to work and school on Tuesday is definitely going to be a rude awakening for a lot of folks.  For me, I love what I do as a Top Braemar Real Estate Agent.  Going back to work is a pleasure.

So let’s get to this Braemar Property Value Report for Ryan Homes.  There was only one sale of a Ryan Home between March and April.  It was a Rosemont model for $499,000.  Details of the sale are listed below.

When combined with the entirety of the previous twelve months of Ryan Home sales in Braemar, the updated six and twelve month data points are as follows:

Starting with the six month average and median sold prices we see that both are above the respective twelve month values.  This means that Ryan Homes are still gaining value.

A trend not favorable to Ryan Home sellers in Braemar is found in the seller subsidy column.  The six month average seller subsidy (closing cost assistance to buyers) is just about doubled what it is when we look at the twelve month average.  That’s a big jump in the short term.  What tempers this increase is seeing that the six month median seller subsidy only went up by 50% compared to the twelve month median seller subsidy.  Whether or not a Braemar seller is going to find themselves in a position to give closing cost help to a buyer depends on the circumstances.  If buyer demand keeps up and inventory remains sparse, it is likely that seller subsidy will not be a huge factor for most Ryan Home sellers.

Days on market, or marketing time as I like to call it, is almost unchanged in the six month average compared to the twelve month average.  Meanwhile, the six and twelve month median marketing times are still at only seven days.  The six month average may even be lower.  As you recall, our MLS  changed to a new system in November last fall that calculates this figure differently.  When out on listing appointments, I actually calculate these figures by hand for the most accurate information.

If you placed your Ryan Home on the market, priced to current conditions, you could expect it to be under contract in as little as a week, or as much as five weeks or so.  You could also expect to give about 1% of the sales price in closing cost help, if any at all.

The next Braemar Property Value Report will be out in July.  Until then, when the need to sell your Braemar home arises, give me a call for the most accurate analysis of your home’s worth in our current market.  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: November-December 2018 (Arista Series)

Braemar Property Value Report: November-December 2018 (Arista Series)

You know it’s cold outside when you are layering your clothing while you are in your home office.  What can I say?  I love my Braemar Arista Series home, but Brookfield Homes certainly skimped on insulating the rooms over the garage in my model.  If you live in any home long enough, you find the flaws.   There is no such thing as the perfect home.  You learn that quickly as a Bristow Real Estate Agent.

This post isn’t about the quest for a perfect home, it’s about telling Braemar Arista home owners the current market values.  Of course, if you aren’t sure if you are a Braemar Arista home owner, the Arista Series floor plan include the Allister, Buckingham and Canterbury.  Still not sure if this is for you.  If you email me your address, I can certainly tell what model you have, and what report is meant for you.

There were two Braemar Arista homes that sold in the last two months of 2018.  There were both Canterbury floor plans.  The details of each sale are listed below:

Taking these two most recent Arista home sales and update our rolling twelve months worth of sales and updating the six and twelve month value points, a read on the market emerges.

Let’s start with the most important column to Arista home owners–sold price.  The six month average and median sold prices are both below the twelve month average and median sold prices.  This is not great news.  It is indicative of a slight decline in Arista home values.

When it comes to seller subsidy (closing cost assistance to buyers,) it the six and twelve month median are exactly the same.  In better news, the six month average seller subsidy is less than the twelve month average seller subsidy.  It seems that while prices are lower, at least closing cost help given did not also go up.

Finally, we come to days on market.  The six and twelve month median are the same.  Good news in this column is that the six month average marketing time is faster than the twelve month average marketing time.  I don’t expect this trend to stay the same.  In mid-November, our region switched to a new MLS system that calculates DOM differently.  The most recent sales listed here were likely unaffected by that new algorithm  But in the coming reports this year, don’t be shocked if DOM goes up.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect to be under contract in about ten weeks.  You could also expect to give a little less than 1% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in late March.  These reports will continue to be published on SellingBraemar.com and shared on my Braemar Facebook Page.  However, if you want electronic copies emailed to you, that you can print out and save like a financial statement, send me an email at ChrisAnn@LNF.com.

Until next time, if you want to know what your specific Braemar home is worth, contact me 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