Pricing Your Bristow, VA Home For Sale

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Real Estate Agent with Long & Foster REALTORS®, Manassas, VA VA License # 0225089470

Pricing Your Bristow, VA Home For Sale 

Bristow, VA is a suburb of Northern Virginia that grew up during the real estate boom.  There were one off homes here and there on larger tracts of land before then, and those are unique.  But the majority of Bristow homes are in subdivisions like Braemar, Victory Lakes or Kingsbrooke where there were only a handful of floor plans available for a buyer to choose from.  Pricing one of these Bristow cookie cutter homes for sale is not something that needs to be over thought.  

In a neighborhood where there are other homes that have the same exact floor plan as you, pricing for sale can be done by taking a quick look at the homes like yours that have sold.  Minor tweaks will be made for upgrades you have, or don't have.  But don't expect your hardwood floors and granite counters to make your home worth $50,000 to $100,000 more than the most recent sale that had carpet and laminate counters.  

An appraiser is going to come in and draw comparisons to those homes with the same or very similar floor plans that have sold recently.  They aren't going to compare you to much larger homes to increase your price, just because you have upgrades the closets comps in size didn't.   They will make adjustments, based on what buyers have been paying for the upgrades you have.  They figure that out like this:

Let's assume two recent sales, House A and and House B are the same floor plan and alike except that House A had granite counters. House A sold for $450,000 and House B sold for $440,000.  By the market extraction method that appraisers use, the granite counters would add $10,000 in value in the neighborhood.  

When pricing you Bristow home in a subdivision with like houses, don't overthink pricing.  You may want a higher price, but reality always comes down to the appraisal, and that is going to have homes that are most like you in size, and tweak for upgrades.  Don't expect the sun, moon and stars just because your home has a few more bells and whistles than the neighbors that sold for $75,000 less than you want.  In the land of Bristow subdivisions, ALL the bells and whistles, rarely add more than 10% more value than the comps. 

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Rainmaker
342,766
Lloyd Binen
Certified Realty Services - Saratoga, CA
Silicon Valley R since 1976;408-565-8177

Chris Ann, I now understand your No. VA market a little more clearly.  We have markets like that also.  I think most rational homeowners can understand your logic and an appraiser's logic.  It makes sense.  So your CMAs are a little easier than in a market consisting of one-of-a-kind custom homes. 

Oct 17, 2012 02:37 PM #1
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Chris Ann Cleland
Long & Foster REALTORS®, Manassas, VA - Bristow, VA
Associate Broker, Northern VA

Lloyd:  One of a kind homes are not the norm out here, but we do see them occasionally.  

Oct 17, 2012 02:39 PM #2
Rainmaker
1,182,923
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Chris Ann very well written, what a great description of teh area and how how things work. Have a good night

Oct 17, 2012 03:48 PM #3
Rainmaker
90,542
Jim Brooks
The Brooks Team- Realty One Group - Henderson, NV

Chris Ann,

 Awesome description and details! Very well organized and helpful. Take care!

Oct 17, 2012 04:19 PM #4
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Chris Ann Cleland
Long & Foster REALTORS®, Manassas, VA - Bristow, VA
Associate Broker, Northern VA

Scott & Jim:  Cookie cutter homes leave little to the imagination on pricing.

Oct 17, 2012 05:31 PM #5
Rainmaker
278,384
Carol-Ann Palmieri
RE/MAX Executive Realty, Al and Cal Realty Group - Franklin, MA
"Cal" the Real Estate Gal

Hi Chris Ann.  I know how hard it is for Sellers to have to compare their home to a neighbors that doesn't have all the bells and whistles especially after they have poured their heart and soul into it.   You outline the reality very nicely.  

Oct 17, 2012 07:59 PM #6
Rainmaker
1,267,683
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Not to mention, those upgrades and enhancements might have cost a pretty penny when the home was built but over time they depreciate. They do not appreciate.

Oct 18, 2012 07:54 AM #7
Rainer
131,756
A List Properties -San Diego Neighborhood Experts from Beaches to the Mountains
www.WhereToBuyInSanDiego.com 619.316.7445 - La Mesa, CA
A List Properties - San Diego Neighborhood Experts

Chris, great information and points you have provided for your market.

Oct 18, 2012 12:20 PM #8
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Chris Ann Cleland
Long & Foster REALTORS®, Manassas, VA - Bristow, VA
Associate Broker, Northern VA

Carol Ann:  Reality is hard for some to swallow, but it is what it is.

Elizabeth:  That's right.  Over time, upgrades do depreciate.

Rachell:  Thanks.  I try to provide relevant material for the home sellers in Bristow.

Oct 18, 2012 05:38 PM #9
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Joni Staples
Berkshire Hathaway Home Services - Anderson Properties - Huntsville, TX
Your Huntsville / Lake Livingston Area REALTOR®

"Minor tweaks will be made for upgrades you have, or don't have.  But don't expect your hardwood floors and granite counters to make your home worth $50,000 to $100,000 more than the most recent sale that had carpet and laminate counters."

AMEN!!

Oct 19, 2012 09:35 AM #10
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Chris Ann Cleland
Long & Foster REALTORS®, Manassas, VA - Bristow, VA
Associate Broker, Northern VA

Joni:  Hard message to convey to folks who just can't fathom their house isn't THE ONE home in the neighborhood that will sell more than anyone else's.

Oct 19, 2012 10:33 AM #11
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Chris Ann Cleland

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