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are the two Braemar single family homes that have been temporarily removed from active status and one home that was withdrawn from the market entirely.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!