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

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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

 

 

 

Braemar Reflection Quarterly: October-December 2018 (4th Quarter)

Braemar Reflection Quarterly: October-December 2018 (4th Quarter)

Staying inside and avoiding the arctic temperatures in the Bristow area today is my plan.  That also allows me to sit at my desk and put up this most recent Braemar Quarterly property value report.  This particular edition features the fourth quarter sales in the Reflection Series. Reflection Series homes are the semi-detached homes located off of Tarvie Circle.  They are single family homes attached to only one neighbor at the rear load garage.

Unfortunately, there were no new sales of Braemar Reflection homes to report in the fourth quarter of 2018.  That doesn’t mean I don’t have updated data to share with you.  To keep only one year’s worth of data, the sale from the last quarter of 2017 is dropped and new six and twelve month average and median values are calculated.  When that is done, here’s what we end up with:

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 sold price.  Certainly not a cause for alarm, especially when you notice that the six month median sold price is above the twelve month median sold price.  As of the end of the fourth quarter, all evidence points to the fact that Braemar Reflection homes are holding steady in value.

In not so great news, seller subsidy (closing cost assistance to buyers) seems to be on the rise.  Both the six month average and median seller subsidy dollar amounts are higher than what we see in the twelve month average and median seller subsidy figures.  This means Braemar Reflection sellers are giving more money in closing cost help in the recent past.

Finally we come to days on market, or as I like to call it, marketing time.  Both the six month average and median marketing times are slightly higher than the twelve month average and median marketing times.  This isn’t cause for concern. In fact, due to the MLS change our region underwent in November, we may see even more drastic increases in days on market, as that marketing time clock is stopped not by going under contract, but by being under contract with no contingencies.  To read about the confusion this is likely to cause in the next year, you can read my post on the subject by clicking this link.

If you placed your Braemar Reflection home on the market, priced to current conditions, you could expect it to be under contract in about four to five weeks.  You could also expect to give about 2% of the sales price in closing cost assistance to your buyer.

The next Braemar Reflection Quarterly will be out in April.  Until then, if you want to sign up to receive digital copies of these reports, before they are published online, send me an email  at ChrisAnn@LNF.com with your property address and email address.   And whenever you need to know what’s happening in the Braemar real estate market, reach out by call, email or text for a free market analysis of your home’s value.  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