This is only one of two remaining Braemar Property Value Reports before the end of 2010. Hard to believe the holiday season is upon us. Even as the temperature is dropping, the value of homes in the Arista Series built by Brookfield Homes is on the rise. Floor plans within the Arista Series include the Allister, Buckingham and the very popular Canterbury.
This Braemar Property Value Report, covering the resales of Arista Series homes in September and October, consists of two Canterbury sales. One a foreclosure that, despite its granite counters and hardwood floors, was considered a fixer-upper. The other, a regular sale that was not as fancy in the upgrades, but well maintained. Each had the same square footage, and the regular sale had a deck.
The regular sale was the highest sales price Braemar has seen in a while: $488,000. However, it took 492 days on the market to achieve that sale.
The foreclosure sold for $415,000 in 18 days.
If you placed your Braemar Canterbury, Allister or Buckingham on the market, and priced it to current market condidtion, this report tells us that you could expect your home to sell in 251 days. Personally, I think the overpriced nature of the regular sale for the last year is definitely over-inflating that number. I think a month would be more realistic for days on the market. There were no closing costs paid to the buying side in either transaction, so seller subsidy is non-existent this report. This means Braemar sellers may not have to pay buyer's closing costs when selling their home.
The next Braemar Property Value Report wll be out in January and will reflect the last two months of the year. 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.
Have a Happy Holiday! And if you find yourself needing to sell your home before next report, feel free to give me a call. Remember, no one knows Braemar better!
Chris Ann Cleland, Realtor, Licensed in VA, Long & Foster