Welcome to the Dog Days of Summer. I hope all my Braemar neighbors are taking full advantage of the two community pools that Braemar has to offer during this heat wave. After seeing the current average Braemar Property Value for homes in the Arista Series, you may feel like someone just thrrew you in a cold swimming pool.
First, let's start with an explanation of who this particular Braemar Property Value Report is relevant to. 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, once again, comprised of only one resale in the Arista Series in the last two months, so there was no averaging necessary. One resale means the average market value is the sale price of the one sale. Unlike last report, this sale is less favorable. It was a Buckingham model with an unfinished basement and only two full bathrooms, selling for $380,000. When you consider the lack of finished space and only two full bathrooms in a type of home where three to four bathrooms is the norm, this number really shouldn't shock you.
Looking back to last report, we now see a 15.6% decrease in average market value. Year to year, the decrease is less dramatic at 9.6%.
If you needed to sell your Canterbury, Buckingham or Allister model homes, and priced it to current market conditions, you could expect to have your home under contract in no time at all. Though the zero days on market may indicate that the Listing Agent had a lead on the buyer before this home ever hit the market. And judging from this report, you could expect to pay about 3% of the sales price in closing cost assistance to the buyer.
The next Braemar Property Value Report wll be out in September. Until then, if you would like to view average sale prices for Breamear homes dating back to May & June 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.
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