Braemar Piggyback & Patio Quarterly: July-September 2015

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Real Estate Agent with Long and Foster Real Estate VA License # 0225089470

Braemar Piggyback & Patio Quarterly:  July-September 2015

There is an excitement in the crisp fall air as we start to see Christmas decorations springing up around the neighborhood.  Thanksgiving is this week and I feel completely unprepared, but that's a good thing.  It means I've been busy selling Braemar homes.

Right now, it's time for the third quarter report for Braemar Piggyback and Patio homes.  We will make comparisons looking back to last report (April-June 2015) and last year (July-September 2014.)   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.

 

PIGGYBACK

There were three Braemar Piggyback townhouses that sold in the third quarter.  That's better than last Piggyback Townhouse in Braemarreport  and even last year when we saw none.  The high sold price was $299,000 and the low was $287,000.  The average of all three gives us our new average market value for Braemar Piggyback townhomes of $293,667.  The activity alone is enough to make me smile.  We'll have to wait for more sales, hopefully in the fourth quarter, to get a feel for the direction market values are heading.

If you did place your Braemar Piggyback townhouse on the market, priced to current conditions, this report indicates it would be under contract in an average of 52 days.  You could also expect to give an average of about 1.5% of the sales price in closing cost help to the buyer.

 

PATIO

We saw double the amount of sales activity in Braemar Patio homes this quarter, compared to Piggybacks.  There were six sales between July and September.  The high sold price was $319,000 and the low sold Patio Home in Braemarprice was $255,899.  The average of all six gives us our new average market value for Braemar Patio homes of $301, 717.  This means our average market value for Braemar Patio homes has decreased by over 3.5% since last report and decreased by over 2.5% compared to last year.

If you placed you Patio home on the market, priced to current conditions, you could expect it to be under contract in an average of 28 days.  You could also expect to give an average almost 1% of the sales price in closing cost help to the buyer.

The next Braemar Piggyback & Patio Quarterly will cover the fourth quarter of 2015 and will be out in January.  Until then, when you are ready to sell your Braemar home, call me for a free market analysis.  No One Knows Braemar Better!

 

 

Statistics compiled by Chris Ann Cleland, using the MRIS (Metropolitan Regional Information System.)

Comments (4)

Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Chris Ann - That's an excellent market report for Braemar from the agent who knows it best. And thanks for teaching me a new real estate term - I had no idea what a piggyback was. We haven't seen them here yet.

Nov 22, 2015 04:22 AM
Chris Ann Cleland

Maximization of space by the builder.

Nov 22, 2015 04:37 AM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I love reading your reports, we have a newer complex with piggy back homes and they were not really named. Interesting design and a great way to maximize space. 

Nov 22, 2015 08:13 AM
Chris Ann Cleland

I don't think these were officially named either, but named by the real estate community who struggled to figure out what they were.

Nov 23, 2015 01:01 AM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

I chuckle everytime you post a report about the Braemar Piggyback and Patio townhomes because I can't get over that term piggyback. What are the dormer windows on top? Is that an attic area?

Nov 22, 2015 11:04 AM
Chris Ann Cleland

Decoration.

Nov 23, 2015 01:01 AM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

That means three opportunities for prospective home buyers that may be a good fit for one of these units. Hope they contact you for representation.

Nov 23, 2015 02:23 AM
Chris Ann Cleland

Those are the ones that sold.

Nov 23, 2015 04:57 AM