Haymarket Homeowner March/April 2015

UPSCALE LIVING IN HAYMARKET & GAINESVILLE

Haymarket Homeowner HaymarketHomeowner.com

INSIDE THIS ISSUE

g Market Watch: A Great Start to the New Year!

Neighborhood Market Watch: Piedmont Farm to Table: Haymarket Area Farmers Markets Community Spotlight: The British are Here!

Capital Triumph Register Tips & Advice: Does a Pool Add Value to Your Home?

March 2015 Real Estate Summary Published by

BRYAN GARCIA

"Haymarket Real Estate Guy" Associate Broker

EXIT Heritage Realty Haymarket, VA www.EXITgarcia.com 703-517-2574

Real Estate & Community News from Bryan Garcia, "Haymarket Real Estate Guy" 703-517-2574 March | April 2015

Spring Market: Advice to Sellers & Buyers

T

he Spring real estate market is in full swing!

If you’re getting ready to sell your home, or are in the market to buy a new home, here is some advice and recent market trends that you may find insightful.

We are seeing patterns that are typical of a healthy Spring market, although the average days on the market is up, so homes are taking longer to sell. Inventory in Haymarket and Gainesville is also up, substantially higher than it was at this time last year. This means there is more competition. The number of home sales has been down, however closed sales are really starting to pick up (see chart).

With all this, the median sold price is still on the rise. See page 2 for specific details.

Advice to sellers: There is good competition out there so make sure you have the leading edge by preparing your home in advance and pricing it right. Home sales have picked up and the ones that are well-maintained, move-in ready and presented nicely are selling faster.

For tips on getting your house ready to sell, see haymarkethomeowner.com/ tips-to-sell.

For pricing, it’s better to price it right and entertain multiple bids rather than price it too high to see what

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happens. With the competition and average days on the market, your house will probably sit longer, eventually forcing you to drop the price anyway.

Advice to buyers: Because there is increased inventory and the climate is healthy, we aren’t looking at a crazed real estate market with bidding wars. However, if something really nice is new to the market and priced well, it will sell fast. It may even go over asking price and there may be other bidders. This means you need to have your lender lined up, your documents ready to go, and your checkbook in hand. If you really like a property, be prepared to move fast or someone else might.

Buyers, if you want to watch the market closely but don’t have time to check MLS listings daily, sign up for a free Market Snapshot. Set it up with your criteria and THE DAY a new house comes on the market, you’ll receive an email. Email bryangarcia@ exitheritage.com and he’ll get you started.

TIPS & ADVICE

g

1

The Median Sold Price for detached, single-family homes in Haymarket increased by

+40.3%

in February 2015 compared to February 2014.

1

House Hunters Haymarket Did you know you could search all the MLS listings for homes for sale in Northern Virginia by SUBDIVISION or HIGH SCHOOL? If you are looking to buy a home in a specific neighborhood or school district visit www.EXITGarcia.com and set your search criteria in the filters on the left.

Market Watch Source: RBI Real Estate Business Intelligence

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Request a free, no obligation Competitive Market Analysis (CMA) & Proposal for Selling your Home by emailing: BryanGarcia@exitheritagerealty.com

MARKET WATCH

HaymarketHomeowner.com

A Great Start to the New Year!

T

he local real estate market for the first quarter of 2015 improved compared to the first quarter of 2014, even though we had another long, cold winter. In a Year to Date (YTD) report of the first three months for all home types, inventory (New Listings) increased by +20.7% in Haymarket and +26.1% in Gainesville compared to the same period last year. While Days on the Market (DOM) also increased (+26.9% in Haymarket and +28.3% in Gainesville), the number of Closed Sales started to pick up, especially in March (see page 1).

Best of all, the Median Sold Price in both towns is still rising. Looking at detached, single-family homes only, the Median Sold Price in Haymarket increased by +21.4% in January , +40.3% in February and +8.9% in March compared to these same months last year. This is terrific news!

Gainesville fell back in February with a slight decrease compared to last year, but made a positive turn in March (see chart).

When trying to understand real estate market trends as they relates to our area,

it is important to look at the statistics for the local region. We see the news with data about the national real estate market and we hear about trends for the Washington D.C. and Metro area, but to fully understand our local market, we have to look at a hyper local report.

You will notice in the charts below that I am comparing stats for January, February and March, 2015 compared to 2014 in Haymarket and Gainesville, as well as Prince William County and Northern Virginia. For the purpose of this report, I am comparing only detached, single-family homes (upscale and luxury).

You will see a big difference in Haymarket compared to Northern Virginia for example. An even more hyper local report will include specific neighborhood statistics. These statistics will shift considerably. In neighborhoods, there are many factors that cause jolts, including a couple of very high priced sales, or too few sales to make an accurate read. Overall, I'd say things are looking pretty good in these parts so far this year.

MEDIAN SOLD PRICE - FIRST QUARTER 2015 (single-family, detached homes only) Northern Virginia 2015 2014 Difference

January February March $522,200 $524,000 $545,000 $513,000 $513,000 $525,000 +1.8% +2.9% +3.9%

Prince William County January February March 2015 2014 Difference

$380,000 $401,500 $385,000 $387,450 $374,900 $379,000 -1.9% +7.1% +1.4%

Haymarket

January February March $604,950 $505,000 $527,495 $498,500 $359,900 $484,500 +21.4% +40.3% +8.9%

2015 2014 Difference

Gainesville 2015 2014 Difference

January February March $467,400 $422,250 $477,500 $435,000 $432,950 $473,250 +7.5% -2.5% +0.9%

NEIGHBORHOOD MARKET WATCH

Bryan Garcia, EXIT Heritage Realty | 703-517-2574

FEATURED PROPERTIES

NEIGHBORHOOD SPOTLIGHT

Piedmont

Let's take a look at the recent real estate trends in the Piedmont community of Haymarket for this issue. Here are some highlights for the first quarter, January through March 2015 compared to the same period in 2014, based on all home sales.

•

Closed Sales during this period ranged from a low of $323,000 to a high of $872,000.

•

There were 7 Homes Sold in the first quarter compared to 5 in 2014 (a 40% increase).

•

The Median Sold Price during this period was $591,250 and in 2014 it was $470,000 (a +25.8% increase).

•

The average Days on the Market (DOM) in the first quarter was 109 days compared to 35 days in 2014 (an increase of +211.4%).

So, overall the market in Piedmont for the First Quarter of 2015 showed favorable statistics although the Days on the Market increased substantially. Homes in Piedmont are selling, it's just taking longer.

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Sold Price versus Listing Price

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COMMUNITY

HaymarketHomeowner.com

There’s no better way to

support the local economy and small businesses than to buy your produce and other fresh staples at a farmers market.

You may not realize it, but you’ll find much more than vegetables and fruits at these markets; there are homemade breads and pastries, meats, eggs, flowers, honey and even salsa and chips! In the Haymarket area, there are several markets open throughout the week—Saturday, Sunday, Wednesday and Thursday—so there’s no excuse not to stop by and pick up some home-grown and a home-made goods.

Enjoy the fruits of labor of local Virginia businesses and farmers while bringing delicious, fresh ingredients to your table.

Haymarket Thursday Afternoon Market 16015 John Marshall Highway, Broad Run Thursdays from 2:30 p.m. to 6:30 p.m.

May 7th to November 19th The Haymarket Thursday Afternoon Market is now located at The Farm at Broad Run, just two miles west of Haymarket on Rt. 55. Previously the Marque Farmers Market in Gainesville, this farmers market will feature the same vendors in their new, convenient location. They will continue to offer fresh, locally grown produce and meats as well as homemade baked goods, and other specialty food items

Farmers Market is run by the Town of Haymarket and vendors are welcome to participate by contacting the Town Hall at www.townofhaymarket.org.

TO

and crafts. Speak directly to the farmer and producer of the goods for sale and learn how the produce and animals are raised. Find out what exactly goes into growing products and getting them to market, as well as how the crafts are made.

Haymarket TAM is an independent market operated by Kathryn Willis of Ms. McDonald's Market.

Haymarket Farmers Market 15000 Washington Street, Haymarket Saturdays from 8:00 a.m. to 2:00 p.m.

End of April through October Held in the Town Hall parking lot in the center of town, the Haymarket Farmers Market has become a go-to weekend event for local shoppers during the warmer months of the year. It features Virginiagrown products only and offers a bountiful selection of fresh vegetables, fruits, meats and other local products. The Haymarket

Archwood Green Barns Farmers Market Route 245 & I-66 at Exit 31, The Plains Sundays from 10 a.m. to 3 p.m.

April 26th to November 8th, 2015 Serving Prince William and Fauquier Counties since 1998, the Archwood Green Barns Farmers Market occupies the main barn on the grounds of a restored horse farm located right off I-66 in The Plains.

Shop the producer-only market for handmade and home-grown products that include baked goods, fruits, vegetables, canned goods, honey, beef, rabbit, eggs, bedding plants and more (photo below).

Just a short ride from Haymarket, plan to stay for lunch and relax in this scenic location. The market offers hot, freshlyprepared BBQ, brick-oven pizza or tasty dishes from Greenie's Vegetarian Grill.

Smart Markets Farmers Market Piney Branch Elementary School, Bristow Sundays from 10:30 a.m. to 2:30 p.m.

(May to December) Sundays from 10:30 a.m. to 1:30 p.m.

(January to April) Smart Markets operates guaranteed producer-only farmers markets throughout Northern Virginia. They have a reputation for high-quality vendors which include a wide variety of locally-grown produce and an interesting mix of locally-made food products. Open year round, the winter market in Bristow offers meats of all kinds including fresh chicken, beef, pork, veal, lamb, goat and rabbit; fresh country eggs from Holly Brook Farm; apples, apple cider and some winter vegetables from Tyson Farms; wonderful breads and pastries from Valley View Bakery; authentic hummus and baklava from Janie Hakim (Sweet Nuna) and delicious candies, cupcakes and more from award-winning baker, Grant Brown (Granted!). The summer market is expanding with even more local products!

COMMUNITY Middleburg Community Farmers Market 300 W. Washington Street on 200-400 Stonewall Avenue, Middleburg Saturdays from 8 a.m. to 12 p.m.

May 2nd to October 31st, 2015 Held in the lot behind the Middleburg Community Center, the Middleburg Community Farmers Market is sponsored by the Town of Middleburg and provides local agriculturalists with a retail outlet for their products.

The market also provides the citizens of the area with an opportunity to purchase fresh quality products from the folks who produce them. You’ll find seasonal vegetables, fresh chicken, baked goods, grass fed beef, lamb, eggs, herbs, Betty’s Chips & Salsa, flowers, honey, jams, and much more. It’s well worth the short ride to the quaint town of Middleburg to visit this market of homegrown goodies.

Warrenton Farmers Market Fauquier Hospital near Bistro Restaurant Wednesdays from 7 a.m. to 1 p.m.

May 6th through October 28th, 2015 South 5th & Lee Street, Warrenton Saturdays from 7:30 a.m. to 11:30 a.m..

April 18th through November 21st, 2015 There are two weekly farmers markets held in Warrenton, one at the hospital on Wednesdays and one in Old Town on Saturdays. Several local vendors come out to sell their produce which includes bedding plants, cut flowers, fruit, vegetables, herbs, meats, eggs, baked goods, condiments, crafts and other locally grown or produced agricultural products.

80% of products at these markets must come from vendors farm and 20% may be supplemented from other Virginia farmers.

You know it’s local!

Bryan Garcia, EXIT Heritage Realty | 703-517-2574

SEASONAL FARM PICKS Burnside Farms

4905 James Madison Highway, Haymarket 2617 B Logmill Road, Haymarket This local farm has been growing flowers, plants and vegetables in the Haymarket area for three generations—offering something fresh-picked for every season!

Burnside prides itself on it’s chemical-free farming practices that follow guidelines for organic, sustainable production. Located on two farms, Burnside is in the midst of it’s Festival of Spring.

Festival of Spring - Pick your own bouquets of Daffodils, Tulips and Dutch Iris Summer of Sunflowers - Pick your own Sunflowers from over 25 varieties in July Fall Market - Huge selection of pumpkins, fall plants, apples, cider, corn stalks and the Burnside Barnyard Winter - Fresh cut Virginia-grown Christmas trees and other fresh pine greenery Stop by or visit www.burnsidefarms.com for full schedule and more information.

Buckland Farm Market

4484 Lee Highway, New Baltimore Create better quality meals with organically grown food from Buckland Farm Market located a few miles from Gainesville on Route 29. Shop for fresh fruit, vegetables, meat, cheese, eggs, baked goods, jams and honey from both of their working farms as well as other local farms. An on site bakery fills the air with delicious aromas from their freshly baked pies, cakes and breads. Along with seasonal flowers, herbs and country decór, you’ll find something special for your table year round. Visit www.bucklandfarmmarket.com for hours and seasonal offerings.

City of Manassas Farmers Markets Harris Pavilion and Lot B, Manassas Thursdays from 7:30 a.m. to 1 p.m.

Saturdays from 7:30 a.m. to 11:30 a.m.

April 9th through November Tuesdays from 5 p.m. to 8 p.m.

June, July & August only Voted one of the best farmers markets in the area by Prince William Living magazine, the City of Manassas Farmers Market is one of the oldest in Northern Virginia. They pride themselves on the wonderful producers, loyal customers and warm community and offer a wide variety

of local products. This Market participates in the U.S. Department of Agriculture’s Supplemental Nutrition Assistance Program (S.N.A.P.) It's also open select times during the winter months with the best their vendors have to offer.

COMMUNITY CLUB SPOTLIGHT

HaymarketHomeowner.com

The British are Here!

T

here is a unique group of classic car enthusiasts who reside in Haymarket and Gainesville; they're part of a British classic car club. You may have seen them buzzing around town in their orange (Pimento), green, or blue Spitfire, Triumph TR6 and TR7 sports cars.

They belong to a larger club called the Capital Triumph Register (CTR), which spans the Washington, D.C. metropolitan area. CTR was founded in 1989 to serve Triumph enthusiasts in the region and has about 130 registered members. The club encourages ownership, operation, maintenance, and restoration of all Triumph automobiles as well as the goodnatured fellowship associated with this hobby and way of life.

There are actually more of these original or restored 1950, 1960, and 1970

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The CTR sponsored annual event—Britain on the Green Car Show—is coming up on April 26th at the Gunston Hall Plantation in Mason Neck, VA. Nearly 200 British cars register in more than 25 classes to compete, including MGs, Austin Healeys, Jaguars, Rolls Royces, Bentleys, Triumphs and more. The day is filled with British car regalia, food vendors, and a tour of Gunston Hall with a reasonable admission fee. It’s a great way to spend a Sunday in spring!

If you own an old Triumph (or other British classic car) or know someone who does, local members, Tim, Steve and Lionel would love to hear from you. They own and restore

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Triumphs and periodically head out for spirited rides. You may also find them at the Haymarket Car Shows or at the Gainesville United Methodist Car Show and Fundraiser, which is run by Steve, coming up Sunday, May 2nd. Stop by and check out the cars!

If you have a local club or group you would like to spotlight, email Bryan at bryangarcia@exitheritage.com.

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TIPS & ADVICE

HaymarketHomeowner.com

Does a Pool Add Value to Your Home? what you believe the resale value of your home is. So, if your house has a market value of $750,000, a 12% investment would be $90,000. If your house is valued at $500,000 then the project should not exceed $60,000. This will keep you from investing too much in an amenity that won’t necessarily pay back.

If you are interested in learning what the current value of your home is, email Bryan Garcia at bryangarcia@exitheritage. com. He can provide a free, Competitive Market Analysis.

If you are interested in buying a home in the Haymarket area with a pool, visit HaymarketHomeowner.com/ homes-with-pools-haymarket to see some wonderful homes for sale with pools and link to all homes for sale with pools.

5 important things to consider: 1. Location - Are you in a neighborhood where there are many homes with pools?

Is the yard large enough to fit a pool with room left over for play or gardening?

T

his question comes up often and the only real answer I can give is that it depends. There are so many factors to consider when determining the resale value, like geographic location, neighborhood, type of home, type of pool and age and condition of pool. If you live in an upscale neighborhood where most homes have pools, or you live in a warm state like Florida, it can certainly increase the market value, however if the pool is over 20 years old or in poor condition, it can hurt it.

It also depends on who’s buying.

Regardless of how beautiful or extravagant a pool is, some families simply don’t want it because of the extra cost, maintenance and safety issues with small children. Either way, you probably will not get the full cost of installation in resale value.

If you’re thinking about putting a pool in just to add value to your home, you’re probably better off making physical improvements or renovations to your house instead, like an outdoor patio and kitchen, bedroom or finished basement.

Having said that, most people put pools in for family enjoyment in hopes that it will at least maintain it’s value. Is there a price tag for the years your family will enjoy in an outdoor pool? Many families substitute vacations for a backyard oasis.

So there is much savings and value there.

If you are planning to install a pool and resale value is important to you, make sure you do your research first and calculate all the costs associated when you budget. Visit The Association of Pool and Spa Professionals (APSP) website at apsp.org for information and resources regarding materials, safety and standards.

2. Type of pool and cost to install - This price includes permits (from some HOAs) excavation, pool installation, decking, landscaping, lighting and safety fences (most states require them). This could easily reach or exceed $100,000.

3. Filtration and heating Filtration pumps and heaters use a lot of energy, although newer systems have been designed to be much more efficient than in the past. A gas heater is less expensive to install, but has higher operating expenses.

4. Maintenance - This will include chemical balancing, cleaning and opening and closing each season.

If you choose to do this yourself it will be less expensive than using a pool professional however opening and closing should be done professionally.

Fencing for a Lifetime

5. Insurance and Taxes Most homeowners insurance policies will cover a pool structure however you should increase your liability.

Also, in some areas, a pool may increase your property taxes but won’t necessarily add home value.

A general rule of thumb should be to keep the cost of your entire pool investment to between 10% and 15% of

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HOME SALES

HaymarketHomeowner.com

March 2015 Real Estate Sales Here are the March 2015 real estate sales results for ALL home types in Haymarket and Gainesville along with the percentage of change from the month of March 2014:

March 2015

HAYMARKET

GAINESVILLE

Median Sold Price % Change from March 2014

$465,000 +9.4%

$418,950 +6.3%

DOM (Days on Market) % Change from March 2014

77 +10%

30 +150%

Number of Properties Sold % Change from March 2014

38 +22.6%

54 +107.7%

Subscribe to Haymarket Homeowner Online Get the latest real estate market reports, featured listings, my personal picks and community related real estate blogs like: • Northern Virginia and Haymarket Area Spring Wine Festivals & Events • 8 Fabulous Mid-Century Modern Homes for Sale in Northern Virginia • Haymarket 2015 Events Held in the Town of Haymarket Visit HaymarketHomeowner.com and SUBSCRIBE for free on the home page and each new post will be delivered to your email.

Haymarket Homeowner UPSCALE LIVING IN HAYMARKET & GAINESVILLE

Haymarket Homeowner is published bimonthly

by Bryan Garcia, Realtor®. It is printed and mailed to over 11,000 households in Haymarket and Gainesville, Virginia.

For information about advertising or articles, contact BryanGarcia@exitheritage.com. © Copyright 2015 Bryan Garcia | Exit Heritage Realty. This information is solely advisory, and should not be substituted for legal, financial or tax advice. Real estate market information is obtained from third party sources. Publisher is not liable for accuracy of any data or statistics.

If your home is currently listed with another broker, this is not intended as a solicitation of that listing.

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Haymarket Homeowner UPSCALE LIVING IN HAYMARKET & GAINESVILLE

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BRYAN GARCIA Associate Broker EXIT Heritage Realty www.EXITgarcia.com BryanGarcia@exitheritage.com

703-517-2574

EXIT HERITAGE REALTY

15030 Washington Street Haymarket, VA 20169 703-753-9100 Independently Owned and Operated

Real Estate & Community News from Bryan Garcia, "Haymarket Real Estate Guy" 703-517-2574

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