Braemar Property Values: March-April 2011 (Courtyard Series)

By
Real Estate Agent with Long and Foster REALTORS®, Gainesville, VA VA License # 0225089470

Braemar residents in Courtyard homes are not likely to see a coyote like one Braemar resident in the larger single family homes off of Tartan Hills Parkway did.  The chances of a coyote wanting to be a more densely populated area of the community, without the cover of wooded areas, are not good.  In fact, as a Braemar resident since 2005, I think the coyote sighting is a one time event, not likely to repeat, just like the average property value we see for Braemar Courtyard Series homes fro the months of March and April.

What's a Courtyard Series home?  It's one of three different floor plans that share a private pipe stem driveway and very small yards.  Floor plans include the Arlington, the Ballston and the Clarendon.

For the past two Braemar Property Value Reports, there has been only one resale in the Braemar Courtyard homes.  And this report is no different.  It's not unusual to see fewer sales in the Braemar Courtyard homes because they make up a very small percentage of the homes in Braemar in general.  So with a relative handful of Braemar Courtyard homes in the overall neighborhood, the number of sales is likely to be equally sparse.

This time, the sale in the Braemar Courtyard homes was an Arlington model with four bedrooms and three and a half bathrooms.  It listed for $300,000 as a foreclosure and was in rough shape.  I toured it and i will say that any Buyer likely to purchase the home would need new flooring and paint throughout, and new appliances at a minimum.  So the fact that this Courtyard home sold for $305,000 should be not be alarming to Braemar Courtyard home owners.  However, because it is the only sale for the past two months, it is the new average property value for the Courtyard Series homes.  So don't be concerned by the 14% drop since last report (January-Feburary 2011.)

If you had a Braemar Courtyard home in good condition, and priced it to current market conditions...which are still more like those represented by the last report, you could expect your home to be under contract in two months and pay an average of 2% of the sales price in closing cost help to the Buyer.

There is still a great buy in Braemar Courtyard homes in this listing off of Pentland Hills. It's a Ballston model in great shape and a healthy sale.  It's price has been reduced to $327,500!  It has three bedrooms, three and a half bathrooms, a nicely updated kitchen and a double decker composite deck...just to mention a few items.  You can see the listing for that Braemar Courtyard home by clicking this link.

The next Braemar Property Value Report will be out in July.  Until then, you can log on to my website:  www.nvarealestate.net, for average property values dating back to mid-2005.  Of course, if you are contemplating selling your Braemar Courtyard home, feel free to give me a call for your free, personalized market analysis.  Remember, no one knows Braemar better! 

Chris Ann Cleland, Associate Broker, Licensed in Virginia, Long & Foster REALTORS®

703-402-0037, chrisann@LNF.com, www.SellingBraemar.com

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Other Braemar Property Value posts for the period of March-April 2011:

Arista Series (large single family homes built by Brookfield Homes)

Heritage Series (mid-sized single family homes built by Brookfield Homes)

Carriage Series (smaller single family homes with detached garages, built by Brookfield Homes)

Townhouse Report (townhouses separated into garage and no garage categories) 

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