Braemar Piggyback & Patio Quarterly: January-March 2015
The first quarter of 2015 is behind us and it was extremely busy. Of course, this report may not reflect that because we can only sell what is on the market. Many Braemar sellers wait until spring to put their homes on the market.
Let's take a look at what happened in the first three months of the year with Braemar Piggyback and Patio homes. For clarification, Braemar Piggyback Townhouses are attached side-to-side and back-to-back. While they do not offer back yards, they offer large bedrooms and a two car garage. Braemar Patio Homes are also known as quads. Each is attached at the side, back and corner to another Patio Home. They have two levels, also offering large bedrooms and a modest side yard.
Unlike the last quarter of 2014 where there were no sales of Piggyback townhouses in Braemar, the first quarter saw one sale. One is better than none, and it is the same number of sales we saw first quarter of 2014. The sold price was $232,575. That's down 24% since last year, but don't panic. This home was a Short Sale, which in and of itself doesn't necessarily mean a low sales price. The home showed poorly. Dirty, cluttered and in need of carpet and paint. The same home is relisted by the new owners who recarpeted, painted, renovated the kitchen with new appliances and granite counters, and staged the home. The new list price? $295,000. Carpet, paint and staging go a long way to improving value.
If you placed your Braemar Piggyback townhouse on the market, the sale from the first quarter indicates it may take nearly three months to get your home under contract. However, you may not need to pay any closing cost help.
At the time of this report, there are two Braemar Piggyback townhouses on the market. The high price is $299,000 and the low is the flip of the sale from this report at $295,000. Stay tuned to next quarter's report to see if these Piggyback townhouses sell.
We have the reverse problem with Braemar Patio homes as we did with the Piggybacks. There were no sales in the first quarter, but we had one in the last quarter of 2014, none in the first quarter of 2014. This means there is nothing to report to you with Patio home values this report.
However, at the time of this report, there are three Braemar Patio homes on the market, priced between $299,000 to $315,000. We'll have to wait until the second quarter's report to see if they sell.
The next Braemar Piggyback & Patio Quarterly will cover the second quarter of 2015 and will be out in July. Until then, when you are ready to sell your Braemar home, call me for a free market analysis. No One Knows Braemar Better!
And if you haven't already, please join my Braemar Facebook group. You can find links to these reports and be involved in all kinds of neighborhood conversations.
Statistics compiled by Chris Ann Cleland, using the MRIS (Metropolitan Regional Information Systems.)
You can see the most recent property values in Braemar by clicking the links below:
Arista Series (large single family homes built by Brookfield Homes)
Carriage Series (smaller single family homes with detached garages, Brookfield Homes)
Courtyard Series (executive style home, five to a private driveway, Brookfield Homes)
Heritage Series (mid-sized single family homes, Brookfield Homes)
NV Homes (single family homes built by NV Homes)
Ryan Homes (single family homes built by Ryan Homes)
Townhouse Report (traditional townhouses with small back yards)
Condo Quarterly (townhouse style condos)
Reflection Quarterly (single family homes attached at the garage only)