Braemar Proerty Values for July-August 2009 have just been tabulated for the Arista Series. The Arista Series consists of the large, single family homes built by Brookfield Homes and will be one of three models: Allister, Buckingham or Canterbury. If you have one of these models, this Braemar Property Value Report pertains to you.
Braemar Property Values were impacted by two resales in the Arista Series this report (July-August 2009). Those two resales were both Canterbury models, the most popular floor plan of the Arista Series. Braemar's average property value for Arista homes is now $403,250, down from $420,475 last report (May-June 2009). That's a 4% loss in average property value in two month's time and lowest average property value since January-February 2009.
Braemar Property Values continue to be impacted by foreclosures and short sales, and will be for the foreseeable future. Anyone who tells you otherwise is not familiar with our local market.
If you are selling a large Braemar home like a Canterbury, Allister or Buckingham model, you an expect to have your home under contract in about one week's time if it is priced with current market conditions. There is still a lack of inventory for the number of buyers that are searching for homes in our area. You can also expect to be asked for some closing cost assistance by your buyer. The average closing cost paid by a Braemar Arista Series owner is 0.6% of the sales price. Not bad considering this number had been very close to a full 3% of the sales price earlier in the year.
The next Braemar Property Value Report will be out in early November. Until then, if you would like to view average sale prices for Breamear homes dating back to 2005, you can visit my website: www.nvarealestate.net. Click the link for Braemar Property Value Report Online and the Arista Series numbers will be the first you see. It will look like this:
If you are thinking of selling your Braemar home, please give me a call. No one knows Braemar better!
Chris Ann Cleland, Realtor, Licensed in VA, Long & Foster