Braemar Property Value Report: November-December 2019 (Ryan Homes)

Braemar Property Value Report: November-December 2019 (Ryan Homes)

As January draws to a close, I am here at my desk getting the last of the Braemar Property Value Reports, detailing sales from the last two months of 2019, published.  Today’s edition focuses on houses built by Ryan Homes in Braemar.

Between November and December 2019, there were three Ryan Homes that sold in Braemar.  Final sold prices ranged from $485,000 to $540,000.  The details of those three sales are listed below.

Taking all three of three Ryan Home sales and combining them with the entire year’s worth of Ryan Home sales from 2019, our six and twelve month data points are updated and give us the indicators as to what has been happening in our market.  Here is the updated six and twelve month snapshot:

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 respective twelve month values.  This means Ryan Homes have been pushing up in value in the last six months.

When it comes to seller subsidy (closing cost help to buyers,) we see another seller favored trend.  Both six month values are below their twelve month counterparts.  This means that in the last six months, buyers have been asking for less closing cost help.

Days on market (marketing time) shows a trend in the opposite direction.  Both the six month average and six month median marketing times are longer than the corresponding twelve month values.  This means it has been taking a little longer to sell Ryan Homes in the last six months of 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 about two to four weeks.   You could also expect to give less than 1% of the sales price in closing cost help to your buyer.

The next Braemar Property Value Report will be out in March.  Until then, if you have been thinking the spring 2020 market may be when you want to sell, know that real estate spring happens a lot sooner than Mother Nature’s spring.  Right now buyer demand is very high and we have little to nothing on the market.  Those are the conditions that are most seller favorable.  Give me a call and let’s talk timing, price and marketing to get you the absolute most the market will bear.  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 2019 (NV Homes)

Braemar Property Value Report: November-December 2019 (NV Homes)

Happy Monday!  This happens to be my favorite day of the week.  Of course, back to work is the association most folks have with Monday, and it’s no different for me.  I just happen to love my job as a Top Braemar Real Estate Agent.

Today I’m going to share with you the latest Braemar Property Value Report, focused on sales of houses built by NV Homes.  This edition focuses on the sales activity of NV Homes during the months of November and December 2019.

There was only one NV Home that sold during the last two months of 2019.  It sold for $560,000 and the detail of that sale is listed below.

Taking this sale and adding it to the entire year’s worth of NV Home sales from 2019, our six and twelve month data points are updated to reveal the following:

Let’s start by examining the sold price column.  The first thing I notice when I look here is that the six month average sold price is higher than the twelve month average sold price.  That alone would an indication that NV Home prices continue to increase in the more recent sales.  Then I notice that the six month median sold price and the twelve month median sold price are exactly the same.  This alone would indicate NV Home values are steady.  Finally, looking at the most recent sale of a large, three finished level NV Home at $560,000, which is below all the median and average sold prices…well that concerns me.  We’ll have to wait and see what our next report shows for value, but I feel safe calling them stable for now.

When it comes to seller subsidy, we see a good seller favored trend when we see that the six month average seller subsidy (closing cost assistance to buyers) is quite a chunk of change lower than the twelve month average seller subsidy.  Then again, we see that the six month median and twelve month median seller subsidy values are exactly the same.  So what how does the most recent sale compare with seller subsidy.  It’s seller subsidy was higher than any of the above.  Again, we’ll have to wait and see what our trend is.  Right now, we’ve got mixed messages.

Looking at days on market (marketing time) there is a definite trend.  Both the six month average and six month median marketing times are longer than their respective twelve month counterparts.  Our most recent sale on Island Fog also shows this to be true.  While the length of time it is taking to go under contract has increased, it is still not anything troubling.

If you placed your NV Home on the market, priced to current conditions in Braemar, you could expect it to be under contract in about three weeks.  You could also expect to pay about 1% of the sales price, maybe a little more, in closing cost help to your buyer.

The next Braemar Property Value Report will be out in March.  Until then, if you have been thinking that the 2020 spring market may be your time to list, the time to act is now.  Real estate spring is happening NOW.  It always happens earlier than Mother Nature’s spring.  Demand is high and our supply is pitifully low.  Give me a call and let’s talk timing, price and marketing.  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 2019 (Arista Series)

Braemar Property Value Report: November-December 2019 (Arista Series)

Who is out there enjoying the sunshine and temps in the low fifties today?  Sure it’s a weekday and the majority of Western Prince William County is at work, but that doesn’t mean you can’t enjoy it. The sun shining in the windows is lovely.  Too bad the weekend is cuing up to be nasty weather-wise. Just like the real estate market, the weather is beyond our control.

In this edition of the Braemar Property Value Report we take a look back at the last two months of sales activity in the Arista Series in Braemar.  Homes known as Arista homes are the largest homes in Braemar built by Brookfield Homes.  The floor plans include the Allister, Buckingham and Canterbury.  The most prevalent of these floor plans in Braemar is the Canterbury.

Getting right to it, there was one Canterbury that sold in December.  Details of the sale are below:

I’m sure I am not the only one scratching my head and wondering why five bedroom, three and a half bathroom Canterbury with a fully finished walk out basement sold for only $574,900.  It turned my stomach to see that one.  Well, part of the issue is that the sale was a Short Sale.  Short Sales are distressed sales where the owners of a home are upside down in their mortgage vs. what they will get for the sale of their home.  Even still, as a veteran Short Sale Agent that saw plenty of action in our neighborhood during the market down turn, I can say that the investors on the back end of the mortgage don’t give these homes away.  They usually want market value.  If this is what a bank considers market value for a Canterbury in Braemar, there could be trouble ahead.  The good news is that this shouldn’t be a comparable sale for any seller with equity.  Nonetheless, that isn’t going to stop buyers from pulling it up on any number of sites and getting unrealistic expectations of what a large single family home in Braemar is worth.  The latter could certainly affect our property values.  After all, buyers are half of the equation.

 Updating the six month and twelve month data points with the entire year’s worth of sales for Arista homes in 2019, here’s what we see:

Starting with sold price, we see the six month average is well above the twelve month average sold price.  However, the six month median has barely moved from the twelve month median.  Best case, Arista homes are still gaining ground in terms of value.  Worst case, they are holding steady.

Seller subsidy (closing cost assistance to buyers) is showing some good trends for Braemar home sellers.  The six month average seller subsidy is a good chunk below the twelve month average seller subsidy.  Meanwhile the six month median is slightly below the twelve month median.  Overall, this means Arista home sellers have been giving less closing cost help.

Days on market shows a trend I don’t like in the averages.  The six month average average marketing time is about fifty percent longer than the twelve month average marketing time.  I would love to blame the Short Sale that sold this reporting period that that one went under contract in twenty-five days!  Once again, however, the median values are where we find stability.  The six month median marketing time and the twelve month median marketing time are exactly the same.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contract in about four to six weeks.  You could also expect to pay an average of about 1% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in March.  Until then, if you have you been considering a spring sale, now is the time to get started.  By the time we are in the actual spring season, the spring selling season is well under way.  Now is the time to get on the market and get your price when the competition is minimal. Give me a call and let’s talk market timing.  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 (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