Just Sold in Bristow--An Amazing Single Family Home for $465,000
The Bristow and Gainesville real estate markets have been hot for well over a year now. It seemed the day after Thanksgiving 2012 that buyers started coming out of the wood work and inventory was barely keeping up. Buyer demand has only increased and we are most definitely in a seller's market. That means when a house this amazing popped up, there was a feeding frenzy.
This single family home in Saybrooke was completely renovated with spa-like luxury bathrooms, Brazilian Tiger Wood floors, new carpet and a kitchen that would make any cook's day with brownish-gold with veins of black granite counters contrasting perfectly with white cabinets. And the pantry was simply amazing. It had four bedrooms, three and a half bathrooms and a mostly unfinished walk out level basement. The finishes could have been done to any home, but 
this one sat on a lot that backed to trees and in the distance, Broad Run....a stream you could hear as you stood on the deck. The home was priced at $465,000 and everyone that saw this house wanted it.
My Buyers and I were unaware of any offers when we viewed it. And amazingly, it was my Buyers first time out looking for their first single family home. They felt that if it was meant to be, the Sellers would take their lower than list offer at $445,000. So we went back to my office, wrote up a clean offer at $445,000. Clean offer is real estate agent code for not asking for closing costs or anything outside of a home inspection, financing and appraisal contingency.
Before even submitting it to the Listing Agent, who I had known since she started in real estate with our Brokerage years prior, I found out there were other offers. I alerted my Buyers and immediately things got serious. They added an escalation clause to $465,000.
When the Listing Agent was on the way to present the offers, she called and asked if my Buyers, who were putting a substantial amount of money down, would waive the 
appraisal. The home was gorgeous, but there weren't a lot of comps to support the price. Nonetheless, buyer demand said it was worth every penny of $465,000. The Listing Agent had five offers going in to present to the Sellers. Appraisers are not so excited about the buyer demand and like to see price supported in comps. So after a quick conversation, knowing they would still want to buy the home, and could buy it, if the appraisal came in low, they agreed to going without an appraisal contingency.
Out of five offers, my Buyers' offer sealed the deal. And because their escalation clause was enacted, we got to see one of the offers that was even higher than theirs.
There are two things I have learned in this business that helped my Buyers win the home of their dreams. 1) I have built a solid network of real estate agents in my local market area. We know and respect each other and that carries weight. 2) I know the realities of the market. If a buyer really wants a house, they need to put their best foot forward. In this market, for instance, gone are the days when closing cost assistance from seller to buyer was a given. Competition is fierce. The cleanest offer you can write, the better.
My Buyers bought this lovely Saybrooke home for $465,000 on April 24, 2014. They could not have been happier. It was the home of their dreams. And guess what? It appraised for their sales price after all.
Want the Bristow or Gainesville home of your dreams when the competition is fierce? I'd love to help you.
Chris Ann Cleland, Associate Broker-Licensed in VA
2013 Top Producing Agent & 2013 Top Selling Agent, Long & Foster REALTORS® Gainesville, VA
703-402-0037, ChrisAnn@LNF.com
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