Selling a Braemar Single Family Home in October

Selling a Braemar Single Family Home in October

The Braemar real estate market has been shifting amid rising mortgage interest rates. What is happening in Braemar is no different than the surrounding Bristow/Gainesville market or the larger Northern Virginia market. Having been from Frederick County to Fairfax County representing sellers this year, I have to say that Western Prince William and our sweet spot of Braemar has been outperforming some other locales. Of course, a quick look in the MLS today at single family home activity in Braemar between September 1st to October 4th revealed that the success I had with 9528 Ballagan Court may not be what is now typical.

Since September 1st, there have been seven single family homes in Braemar sold. They average sixteen days on the market. There are two Braemar homes under contract, averaging eleven days on market. Currently available single family homes in Braemar are averaging twenty-one days on market…and there are two more Coming Soon listings that will be hitting the market soon. More concerning are the two Braemar single family homes that have been temporarily removed from active status and one home that was withdrawn from the market entirely. Mortgage interest rates increasing (most recently to 7.5%) has had a chilling effect. Yet, 9528 Ballgan Court went under contract in only two days on the market.

The sellers of 9528 Ballagan Court contacted me earlier in the summer about listing for sale. However, they had some home work to do. De-cluttering was a must. Installing new carpet upstairs and flooring in the basement was another must. Finally, a gorgeous, expansive deck needed to be refurbished or demolished. Refurbished was the best plan of action.

When all the work was done, the sellers allowed me to come in and spruce up a few areas with light staging prior to professional photos being taken. The result was the professional marketing that I love to present on behalf of all of my sellers that lifts buyer enthusiasm. Of course, not getting overly optimistic on price was another saving grace. The market for frenzied buyers had passed by the time this home hit the market. It was no the moment to press for a higher price in a home with little cosmetic updating. We looked over the numbers, found what we thought was a fair number and sure enough, a buyer in the market thought it was fair too. The deal was struck in only two days on the market.

My sellers were thrilled to give nothing in closing cost help and have to make absolutely no repairs from their home inspection. They were also relieved to get a rent back at no charge, allowing them to stay in the home until their next home can get to closing.

The Braemar real estate market is changing and anyone looking to sell needs to be sure to engage an actively engaged, full-time real estate agent in the area that knows the pace of the market at any given moment. Nothing makes me happier than getting my Braemar sellers properly prepped for the market, priced right and getting professional marketing behind the process. A home doesn’t need to be the most updated on the block, but a buyer must be able to picture themselves in the space.

When the time comes to sell your Braemar home, I would love to tell you how your home fits into the current resale landscape and how you can improve your takeaway. 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 2022 (Ryan Homes)

Braemar Property Value Report: July-August 2022 (Ryan Homes)

The last weekend of September has brought partly sunny skies and cooler temperatures. Fall is definitely in the air and many of our Braemar residents are enjoying Braemar Day at Clareybrook Park today. Thank goodness it is isn’t raining.

Before the end of the month, this Braemar Real Estate Agent is finishing up my Braemar Property Value Reports. Not many real estate agents are motivated to put together their own market reports and present them like this. Our industry is one where the individual agents are able to determine how much they will and won’t do for their prospective clients. Personally, I love knowing the ins and outs to the most specific detail in our Braemar real estate market. My colleagues consider me a real estate geek and I am fine with that. The devil is always in the details.

Today’s Braemar Property Value Report is focused on houses built by Ryan Homes in our neighborhood. I was so happy to represent sellers earlier this month with a Ryan home that beat the expectations of marketing time. However, you won’t hear about that sale until next report, as it closes next month. Right now, we are looking back to the Ryan home sales from July and August. Those sales are detailed below.

What a difference in outcomes. One home sold well above its list price. The other sold over $100,000 below its original list price. Yikes! I would think it was a typo, but there were price reductions along the way vs. one change to put a seven as the lead number. What’s the difference between these two? Proper pricing, having a well prepared listing and professionally marketing it. Sadly, some sellers are stuck in the mindset that, while this is still a seller favored market, they have to do very little to prep their home for sale and can get the top of the market no matter who they hire. If Top Gun Maverick was filmed with a home movie camera, it wouldn’t be a top grossing film. Not all agents are the same, because not all agents approach the listing process the same.

Taking these two sales and combining them with the Ryan home sales dating back to September 2021, the six and twelve month data points followed in this report are updated as seen below.

Starting in the sold price column, we see that both the six month average and six month median sold prices are significantly higher than their respective twelve month values. This means Ryan homes in Braemar are still climbing in value. It may not be by huge leaps and bounds, but upward growth is upward growth. Inventory is still not meeting buyer demand. The factor that is giving us more modest appreciation is the increase of mortgage interest rates. They were at 6.5% for a thirty year fixed conventional loan when I checked them on Friday. Jumbo loans were at 5.875%. These increases are pinching buyers affordability.

Seller subsidy is where we learn how much closing cost help buyers were able to negotiate from their sellers. In the sales above, the one that sold so much lower than their original list price gave over ten thousand in seller subsidy. I am not surprised being that one of the opening photos was of carpet colors for a buyer to choose. Proper listing preparation and professional marketing can help minimize this expense to sellers. The six month average and twelve month average values are higher than last report.The best news is that in both the six and twelve month time periods represented in this report, more than half of Braemar Ryan home sellers gave none.

Days on market appears unchanged in the average and median values comparing time frames. Looking at the most recent sales above, six days is a fast sale given that July and August are not times when buyers are as engaged in the market. They tend to focus on fun in the sun. However, it should not take any Braemar seller that is well prepared, properly priced and professionally marketed forty-five days to sell.

If you placed your Ryan home on the market, priced to current conditions in Bramear, you could expect it to take two weeks or less to go under contract. Seller subsidy requests are not uncommon, but avoidable if your home is creating buyer enthusiasm. The days of multiple offers is over. You are more likely to be dealing with one buyer at a time, but you can still make sure that buyer is ready to make a serious deal.

The next Braemar Property Value Report will be out in November. Until then, I hope you enjoy the beauty of this fall season. No matter what time of year, I am here to help you size up the listing process and take the market head on to maximize your profit. It is never too early to talk. When a move in on the horizon, get in touch for your free consultation. 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 2022 (NV Homes)

Braemar Property Value Report: July-August 2022 (NV Homes)

Since the early morning hours on this gorgeous, sunny fall Friday I have heard remarks that it is cold outside. I suppose this is our first fall feeling day, with daytime temperatures below seventy and very brisk winds. When you go about your routine expecting what you had yesterday and put on shorts, of course it feels cold. Being prepared for whatever the current day is bringing is better than being caught unaware. When it comes to our Braemar real estate market, I take my job as a full-time, top producing agent very seriously and make sure my neighbors are well prepared. It has become my mission since starting these Braemar Property Value Reports in 2005 to keep home owners in the neighborhood apprised of current market conditions.

Today’s Braemar Property Value Report is looking at NV Homes in our neighborhood. Simply put, those are the houses built by NV Homes. Just like the other reports this month that have preceded this one, the scope of current sales activity is July and August. During that time, there were three NV homes in our neighborhod that sold. Details of these sales are listed below.

For starters, it needs to be made clear that the list price column above is the original list price when a home hit the market. This is the price the market first saw. During our frenzied seller’s market dating back to 2020, listing agents have developed a terrible habit of changing list price to a higher than list price contract price before closing. This, in my opinion, is a terrible idea. A listing agent wouldn’t change list price to reflect a lower than list price contract price. Further, appraisers have access to the same information agents do. Appraisers can see WHEN a list price changes. Doing so after changing the status to reflect a home is under contract simply tells us all the price it has in a contracted sales price, awaiting appraisal. It does zero good to actually GET the value in appraisal.

In the current market, we are actually seeing significant reductions from original list price like the home that dropped it’s price $120,000. Why would a home not see for more? Amateur marketing photos that don’t create any buyer enthusiasm is one observation. Another would be stating you are selling a home strictly as-is. Advertising that is not a great idea. The final thought might be it was way over priced to begin with. Who knows? Regardless, the home that sold so low below its list price it is definitely a punch in the gut for NV home owners. Another slap comes from seeing $7,800 in closing cost help in another sale. And as the summer months wore on, you can see marketing time increased.

When these three sales are combined with the NV Home sales dating back to September 2021, the updated six and twelve month value points are updated as seen below.

The sold price column shows a tightening gap between the twelve month values compared to their respective six month values. This indicates prices are not increasing as much as they had been. The six month values being higher than their corresponding twelve month values still indicates values are increasing, but not by leaps and bounds.

Seller subsidy (closing cost help to buyers) is definitely higher in the average values than seen last report. As interest rates continue to rise and values climb, buyers are finding their affordability pinched at two ends. As a result seller subsidy is starting to be a more common request.

Days on market, despite some higher actual marketing times in the most recent sales is still single digits in the average and median values down the line. However, both six month values are longer than their respective twelve month values. The summer months are never known as a time to sell quickly. Buyers are more interested in fun in the sun that house hunting in July and August. Marketing times may pick up in the fall, but it does appear that we may be in an inventory building phase of the market, which would start to shift us away from a seller favored market. For now, conditions still favor sellers.

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 two weeks or less. You could also expect to be dealing with one buyer at a time. The frenzy of multiple offers seems to have gone away in most circumstances. When it does occur, it is because a home is well prepared, priced right and professionally marketed. For now, it seems seller subsidy is not a foregone conclusion as a seller expense, but don’t be shocked if you encounter offers with it. The 30 year fixed rate mortgage was 6.5% today and 5.85% for jumbo loans.

The next Braemar Property Value Report will be out in November. Between now and then, I do hope you enjoy the show Mother Nature is about to put on with the changing of the leaves. And if you are considering a sale, there is never a bad time, or time too soon, to reach out for listing preparation advice or a check in on the market. Certainly, conditions change, but the way to hit the top of any market is to be well prepared, priced right and professionally marketed. My sellers are counseled on all and reap the rewards. Get in touch for your consultation. 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 2022 (Heritage Series)

Braemar Property Value Report: July-August 2022 (Heritage Series)

It is officially the fall season. Being in the latter half of September is the cue to this Braemar Real Estate Agent to get out her Braemar Property Value Reports. Today I bring you the most recent report for the Heritage Series homes in our neighborhood. If you are not familiar with what constitutes a Heritage home in Braemar, they are the 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 last two months of summer there were six Heritage homes in Braemar that sold The details of those sales are listed below.

At a glance there is a wide range in the way of final sold prices from $641,000 to $730,000. Amazingly, the highest sold price on this list comes form one of the smallest models with an unfinished basement. Meanwhile, one of the largest models listed got the lowest sold price this go round. Seller subsidy (closing cost help to buyers) was zero until near the end of August. Days on market is all over the place.

Combining the most recent sales from July and August with all the Braemar Heritage home sales dating back to September 2021, our six and twelve month data points are updated and still reflect a seller favored market.

Starting with the sold price column, both the six month average and six month median sold prices are still above their respective twelve month values. This means that values are continuing to increase. Home values are certainly not rising in the dramatic we have seen over the last two years, but upward growth is still being seen. Now it is just becoming more measured.

Average values for seller subsidy are very low. What is more important is that in both the six and twelve month time frames, as seen by the median values, more than half of Braemar Heritage home sellers gave no seller subsidy. A well prepared, properly priced and professionally marketed home has the best chance of creating the buyer enthusiasm necessary to avoid this expense. Remember, as buyers are getting pinched with the steady upward growth of homes prices, they are also contending with increasing mortgage interest rates. Seller subsidy requests are not going to be all together unseen in our market going forward.

Days on market is a mixed picture in the most recent sales. The six month average and median marketing times are still in single digits and faster, though only by one day, compared to their respective twelve month values. July and August are not the fastest moving months for real estate. Buyers tend to be more focused on fun in the sun. We will have to wait and see if our marketing times continue to increase as we move into the fall months.

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect to be under contract in about two weeks, hopefully less. You could also expect the odds to be in your favor that you would not have to give seller subsidy. Increasing those odds can be done by increasing buyer enthusiasm through a well prepared home, professionally marketed and properly priced. Multiple offers are not the norm anymore. Getting buyers excited about your home is a must to take the top of the market.

The next Braemar Property Value Report will be out in November. Until then, when you want to get a leg up on your listing preparation if a sale is in your future in the next six to twelve months, don’t hesitate to reach out. Consultations are complementary. Helping Braemar sellers reach the top of the market is what I do. 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

Under Contract in Two Days: A Tale of Unusually Fast Turnaround in Braemar

Under Contract in Two Days: A Tale of Unusually Fast Turnaround in Braemar

When 9528 Ballagan Court hit the market on Saturday, September 19th (2022,) I was cautiously optimistic that we would be under contract in less than two weeks. After all, my my most recent Braemar listing success had just closed the day before. That home at 12607 Cessford Drive had gone under contract in an impressive eleven days. Back in July, Braemar homes were lingering a bit longer.

The sellers on Cessford had done the pre-listing preparation and I put my professional marketing to work. Since the market hadn’t changed much for the better, I was thinking a similar time frame to Cessford would be fantastic. Low and behold, the first day on the market, the very first buyers through, were interested and wrote an offer. Woo-hoo! How did that happen?

Just like the sellers of Cessford, the sellers on Ballagan did the pre-listing preparation. It involved refurbishing a large deck, replacing carpet and putting LVP flooring in the basement, and doing the least favorite chore of every seller–de-cluttering. By the time the professional photographer was there, the house was smiling and saying cheese. That is the beginning of creating buyer enthusiasm.

When it’s time to sell your Braemar home, slow marketing times don’t have to be your marketing times. Reach out for your free consultation when a move is on your horizon. Helping Braemar sellers reach the top of the market is my speciality. 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 2022 (Arista Series)

Braemar Property Value Report: July-August 2022 (Arista Series)

The season of pumpkin spice has arrived. As you drive through Braemar you can see the leaves are starting their autumnal transition. Ready or not, fall is here. In this edition of the Braemar Property Value Report the focus is on Arista Series homes in our neighborhood. Arista homes are the largest homes built by Brookfield Homes in our neighborhood and include the Allister, Buckingham and Canterbury floor plans.

During the last two months of summer, which are the slowest months of our real estate market, there were no Arista home sales to report. Not to worry. With an updated array of Arista home sales from September 2021 to August 2022, the six and twelve month data points are updated as seen below.

Starting with the sold price column, the trend of increasing Arista home values in Braemar is evident. Both six month values are higher than their respective twelve month values. News of values decreasing should not have you in a panic. It is not true.

When it comes to seller subsidy (closing cost help to buyers,) the numbers are increasing. This is not surprising given the fact that buyers are getting pinched with affordability issues with rising prices and rising interest rates. Still the six month median value is still at zero. That means more than half of Braemar Arista home sellers gave nothing in seller subsidy in that time frame.

Days on the market shows a week or less to go under contract in both six month values. With no July and August sales going into that value, I would not put much trust in it. During July and August homes were taking a little longer to sell. Nothing crazy. Maybe two weeks or less for a properly prepared and professionally marketed listing. We will have a better idea of marketing time for Braemar Arista homes next report.

If you placed your Braemar Arista home on the market, priced to current conditions you could expect it to take about two weeks or less to go under contract. Believe it or not, our fall market is a very powerful one. You could also expect to give some seller subsidy. The more enthusiastic buyers are about your home, the less likely you will have to give that kind of consideration. Marketing matters.

The next Braemar Property Value Report will be out in November. Until then, if you want to investigate the sale of your Braemar home, don’t hesitate to reach for your complementary consultation. Getting Braemar sellers to the top of the market 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
www.ChrisAnnCleland.com

What’s One of the Most Popular Floor Plans in Braemar Worth in Late 2022?

12607 Cessford Drive in Braemar Sold for $675,000 on September 9, 2022

What’s One of the Most Popular Floor Plans in Braemar Worth in Late 2022?

The housing prices in Braemar, just like the surrounding area, have been going through the roof since 2020. Slow and steady growth was trampled when inventory availabe to purchase did not come close to meeting buyer demand in 2020 and 2021. Even the beginning of 2022 felt like it was going to be more of the same with bidding wars putting buyers in a position to give up practically every conceivable contingency and escalate above already high list prices, just to have a chance at winning a home.

July 2022 saw a slowing down of the buyer frenzy. In addition to increased mortgage interest rates in the spring, the seasonal slow down that tends to happen in our Bristow market in July and August was what my sellers at 12607 Cessford were facing as they hit the market on July 19th. Of particular concern was the same floor plan listed just a block away that had started at the same list price of $675,000 that had dropped their list price to $625,000 before going under contract just days before. Yikes! Our market was building inventory.

Being a full-time agent specializing in Braemar since I moved here in 2005, I gave the same advice I give every seller–make sure the home is de-cluttered, clean and let my professional marketing do its work. After the listing preparation of a neutral paint on the walls throughout was complete, photo day was nearing. A quick run through the home and it became evident that my sellers had taken my de-cluttering advice extremely seriously. I brought in some staging items to warm up rooms and give a little life with pops of color.

Within nine days, the sellers were under contract with buyers that saw the value of the home at list price. Given the price reductions that happened around the corner, they were elated. Even the buyers’ request for closing cost help didn’t throw them into a panic. They negotiated the amount down to about one percent of the sales price and were very happy when the buyer accepted.

The road to closing was largely uneventul. There were no appraisal problems here, despite lower comps around us. That’s the advantage of hiring a full-time local agent like myself. You don’t just get a contract sales price that is satisfactory. You get the appraised value to match so you don’t have to lower your price further into the process. That’s because I do everything in my power to give the appraiser information on updates, special features and hand selected comps.

Today, September 9th (2022) this Yardley went to closing for its list price of $675,000. While it may seem insignificant to those who have been reading of above list price sales for two plus years, it is a substantial win in a slow sales season with buyers facing affordability issues with rising mortgage interest rates.

No matter the market, or season in which you sell, the goal is to get you the best terms. My professional marketing and pre-listing preparation advice increases buyer enthusiasm to that end. My skill set that has been honed as a full-time Braemar Real Estate Agent for over seventeen years is what keeps it there come appraisal time. When you are ready to sell, please reach out for your complementary consultation. It is my honor to help my neighbors hit the top of the 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
www.ChrisAnnCleland.com

How Many Days Does it Take a Single Family Home in Braemar To Go Under Contract in July?

How Many Days Does it Take a Single Family Home in Braemar To Go Under Contract in July?

On July 19th (2022) I brought 12607 Cessford Drive to the market. The sellers had been putting the finishing touches on their listing preparation as quickly as possible. Yours truly, the one that has been keeping you updated on the Braemar real estate market for over seventeen years, cautioned that July and August are slower than usual due to buyers being on vacation. Is it better to hit the market quickly and ill prepared when facing less motivated buyers or should the listing preparation get done no matter how much time it delays you getting on the market? The sellers wondered. My answer, get prepared.

The sellers had the entire home painted a neutral, on trend color. They de-cluttered everywhere and allowed me to come in and help stage the home. The day after professional photos were taken, we were on the market. Then the test of patience began.

Waiting for a buyer to act during a typical seasonal slow down is sometimes hard enough. Add in the far more deliberate actions of buyers amidst rising mortgage interest rates during that seasonal slow down and the passage of time can feel ten times slower than normal.

After eleven days and fifteen showings, the feedback was great. The home showed very well and buyers liked it. They just wanted to be sure before writing an offer. Then, last night, out of practically nowhere, an offer came in. My sellers were thrilled. Those eleven days felt like a lifetime. Of course, the Braemar real estate geek in me wants to know, how did we do? I practice what I preach. Did it make a difference to be properly prepared and professionally marketed with a full-time local agent?

Well, in the last thirty days, the homes in Braemar that have gone under contract have taken on averagge seventeen days to go under contract. The median days on market for Braemar single family homes that went under contract in July was a little lower at thirteen. Eleven is better than average and the median.

Meanwhile, of the available single family homes to purchase in Braemar, their average days on market today is twelve. Median days on market, fourteen. Those days continue to roll until the homes are chosen by buyers.

When you are ready to sell your Braemar home, get in touch with me for your complementary consultation. It is my pleasure to get my sellers top of market, no matter the season or the market conditions. I would love to be put to work doing the same 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: May-June 2022 (Ryan Homes)

Braemar Property Value Report: May-June 2022 (Ryan Homes)

The last of the Braemar Property Value Reports for single family home sales in May and June is coming to you now. This one in particular focuses on the houses built by Ryan Homes in our community. Let’s get right to it.

There were three Ryan Homes that sold between the beginning of May and end of June. Details of those sales are found below.

A quick look tells me these are all healthy sales happening in a seller’s market. They all sold above their list price, none gave any seller subsidy (closing cost help to the buyer) and they all went under contract in single digit days. Combining these sales with all the Ryan Home sales in Braemar going back to July 2021, the twelve months worth of data is pulled out into six and twelve month data points.

Starting with the sold price column, both the six month average and six month median sold prices are higher than their respective twelve month values. Compared to last report, these lifts that are seen in the six month values above their twelve month counterparts are improved. The six month average sold price has doubled the lift above the twelve month value. The six month median sold price is now above the twelve month median, which wasn’t the case last report. Yes, our market is still a seller’s market. The feeding frenzy resulting in a pile of offers with buyers waiving every conceivable contingency may be gone, but there are still more buyers than there are properties for them to buy. Buyers are just acting more deliberately.

Seller subsidy is now at zero in the six month average. However, the twelve month average has increased by by just under one hundred dollars. Clearly, a Ryan Home seller in the November/December time frame that gave seller subsidy has moved off the six month time frame and is now being counted in the twelve month time frame. In that twelve month time frame there were twenty-four Ryan Home sellers in Braemar. Only two of them gave seller subsidy. None gave any in the six month time frame.

Days on market has gone to a faster pace by one day in both the average and median. Last report, both six month values were a little longer. Even then, nothing to be concerned about. Marketing time is also showing us the continuation of the seller’s market in Braemar, despite rising mortgage interest rates.

If you placed your Ryan Home on the market, priced to current conditions in Braemar, you could expect to be under contract in a week, maybe two. July and August are times when the market does take a breath. Sellers think it is a great time to list when school is out and flock to market. Buyers are worn out from the house hunt and decide it is a great time to slow down, take vacations and have some fun in the sun. It is a typical seasonal disconnect. And as discussed above, you could expect to give nothing in seller subsidy. You could expect to see one, maybe two offers if you are lucky. And in the market now, buyers are not waiving contingencies. We are seeing more typical offers than the frenzy of the last couple years produced.

The next Braemar Property Value Report will be out in September. Until then, if you want to investigate the potential sale of your Braemar home before the end of the year, get in touch for your complementary consultation. My pride and joy is getting my Braemar sellers top of the market through proper listing preparation, professional marketing and skilled negotiation. Take a look at the presentation of my latest listing at 12607 Cessford. 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: March-April 2022 (Ryan Homes)

Braemar Property Value Report: March-April 2022 (Ryan Homes)

You can almost feel the excitement in the air. A long weekend is just around the corner and summer will be unofficially underway. Is the excitement still in the air in the Braemar real estate market? In this edition of the Braemar Property Value Report we look back at what happened with the houses built by Ryan Homes in our neighborhood for the months of March and April. We will also get a chance to see the updated six and twelve month market markers. Let’s get right to it.

There were only two Ryan homes that sold during our current reporting period. There wasn’t a huge gap in sold price with one selling at $690,000 and the other selling at $710,000. Details of both sales are listed below:

The happiest things for would-be Ryan home sellers to see is that seller subsidy (closing cost help to buyers) is at zero in both and days on market is a week or less in both.

Taking these sales and combining them with Ryan home sales in Braemar going back to May 2021, our updated six and twelve month market markers are updated and may indicate a slight shift in the market.

Starting with the sold price column we find that the six month average sold price has increased about one percent from the twelve month average. Increases in six month value are what we have been seeing in the seller’s market conditions of late. However, the six month median sold price has fallen below the twelve month median sold price. We will have to see what next report shows us, because recent multiple offer scrums in the neighborhood tell me we are still seeing very high buyer demand.

Seller subsidy is where we learn how much closing cost help sellers gave buyers. In the case of Ryan home sellers, the amount of closing cost help has been nothing in recent sales. However, the six month average seller subsidy is a little higher than the twelve month average. Not to worry, the six and twelve month median seller subsidy values remain at zero. This means more than half of Braemar Ryan home sellers gave nothing in closing cost help in both time frames.

Marketing time has increased in both six month values compared to their respective twelve month values. This are not big increases. Buyers are being more deliberate in their actions as mortgage interest rates have increased. They are not as susceptible to pouncing on listings immediately.

If you placed your Ryan home on the market, priced to current conditions, you could expect it to be under contract in a week or so. You could also expect to give nothing in seller subsidy. Home inspection contingencies are making a come back, but largely seem to be of the right to void variety from what I am experiencing.

The next Braemar Property Value Report will be out in July. Until then, if you would like to investigate what a 2022 sale would mean for you, don’t hesitate to reach out for a confidential consultation. I have made it my business to be the most informed agent in the neighborhood. And I consider it my best talent to create buyer enthusiasm around my listings, maxing out my seller’s profit. 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