How do you eat an elephant? One bite at a time.
The comment I keep hearing from people is “How’s the market, I hear it’s getting better”. The answer is, yes it is getting better. Although we are a long way from where we were 6-8 years ago, it’s important to know that we are better off now than we were one year ago.
Here are some key statistics comparing September 2012 with September 2011.
Median sales price is up 6.7%
Average sales price is up 4.8%
Sales price to list price is up 2.9%
Days on market is down 12.1%
Months supply of available homes is down a huge 43.4%
Every single one of these statistics points towards a recovering real estate market. So, unequivocally, yes the real estate market is stronger now than it was one year ago. So, just like eating an elephant one bite at a time, if the real estate market will continue to improve a little bit every month, we will be able to eat this giant elephant that has been sitting on our chest!
Today is a great day to buy a home!
Cheers!
Ben Bowen
Thank you to Andrea Sutton with Sutton Place Interior Design for her expert advice on staging. Below are her “Top 10 Staging Tips”
1. Clear it all out. As unsentimental as this might seem to you, buyers want to be able to imagine themselves in your space; seeing clothes in the closet, family photos, and random tchotchkes prevents them from doing so. You want the space to look BIG, CLEAN, SPACIOUS, and UNCLUTTERED.
2. Freshen up the style. Furnishings that seem homey and comforting — yet fresh and contemporary — give an aura that your home is updated and well cared for. Neutrals work best; just add colorful touches here and there.
3. Mirrors! Use mirrors liberally to make your area look bigger, lighter, brighter, and encourage sunlight to bounce all over the walls.
4. Don’t forget the outdoor areas. Those spaces add as much interest for the buyer as the interior rooms. The buyer will see the space as additional living area and your home feels bigger.
5. Create vignettes. Set up little scenes that help buyers visualize their life in your home. A nice corner with a comfortable chair, a lamp and a few books help the buyer imagine a space for quiet relaxing moments.
6. Small furniture, big space. It’s the trick of the trade: downsize your furnishings to upsize the room. Remove your nightstands, extra dressers, chairs and bookcases from your bedroom to make your master bedroom look neat and large. For master bedroom, we also recommend keeping it as gender neutral as positive.
7. Smart accessories. Cleared kitchen counters of appliances, spice racks, towels, and cooking utensils and leave only a few things: a couple of cookbooks and a shiny tea kettle for example.
8. Boost curb appeal. This is something you always hear, and with very good reason. Many people thinking of touring your home will do a quick drive-by first, often deciding on the spot if it is even worth a look inside.
9. Get your house sparkling clean. From shining floors and gleaming windows to clean counters and scrubbed grout, every surface should sparkle.
10. Make your home pet neutral. If you have pets, make sure to clean the carpets to ensure buyers do not notice an odor or fur on surfaces. You may not care if your pet hops on the sofa but it can give buyers the appearance of an unkempt home.
Most of these are easy to do and can be accomplished in a short period of time. If you have a larger project, consider the investment vs. the profit it may bring in your sale. Statistics show that staging your home properly resulting in a sale in an average of 42 days as opposed to the 198 days on average for a non-staged home. If you are not sure where to begin, contact a professional. The small investment can bring big results when done properly!
For interior design help, contact Andrea Sutton http://www.suttonplacedesign.com/
For help buying or selling a home, call Ben Bowen at 704-572-6070
Cheers!
Ben Bowen
Riverwalk, conveniently located along the shores of the Catawba River in Rock Hill is going to be the largest mixed-use residential community between Fort Mill and Columbia featuring approximately 800 homes on 1,000 acres. This ideal location will offer residents low South Carolina taxes with easy access to both Charlotte and Rock Hill. This incredibly diverse community will feature single family homes ranging from the $200’s – $400’s, townhomes, retail shopping, office space and amenities unlike any other in the southeast.
Included in the master plan, Riverwalk will feature a 3-mile trail along the banks of the Catawba River, a drop zone for kayaking, a Veledrome cycling track that is already open, a YMCA, BMX cycling course, mountain bike trails, athletic fields, and so much more. Along the river will be the River District, which will feature restaurants offering waterfront dining.
Currently there are two builders in Riverwalk, Evans Coghill Homes and Saussy Burbank. Evans Coghill Homes has their model home under construction which will open on September 1. I am pleased to announce that Ben Bowen Properties will handle the sales and marketing efforts for Evans Coghill Homes in Riverwalk. On-site agent, Rodney Jones, already has his first sale before the model is even complete! Rodney also has 3 spec homes available for purchase in Riverwalk. Buy now, while you can still customize your selections!
Here is a link to the master plan for Riverwalk. For additional information, please call Rodney Jones at 704-202-7460.
http://www.riverwalkcarolinas.com/site-plan.php
Cheers!
Ben Bowen
There are so many positive signs in the real estate market today, yet many people, both real estate agents and consumers, continue to focus on the negative. I have discovered in my 18 years in real estate that much of my success is because not only do I believe that I can be successful, but I expect to be successful.
When listing your home or working with a buyer’s agent, it is important to use an agent that believes in their success as well as yours. If they don’t believe in their success, how in the world can they believe in your success whether you are buying or selling a home.
I have attached an inspiring link that I hope you will enjoy. This teenager, George Dennehy, was born with no arms, yet he is pursuing a musical career. This video shows him playing “Iris” by the Goo Goo Dolls on guitar! Remember, he has no arms!
What’s standing in your way? Don’t let it be a real estate agent who does not believe in the market and more importantly in themselves.
I hope you enjoy the video.
Cheers!
Ben Bowen
On a national level, single family construction is up 25% in the last six months. Like much of the country, York County is experiencing a strong increase in new construction. With interest rates at historic lows and an increase in consumer confidence, buyers are taking advantage of special incentives offered by many new home builders across the country today.
This trend is certainly evident in the York County Housing Market. Building permits were up from 180 to 245 for first quarter 2012 compared with first quarter 2011. That represents a 36% increase over the same time period last year. Tremendous land values coupled with historic low interest rates are enabling builders to offer new home buyers some of the most affordable home values in years. David Weekley Homes has already sold 25 homes in York County’s popular Baxter Village which matches their total number sold in 2011.
Saussy Burbank has enjoyed tremendous success in the regions newest multi-use development, Riverwalk. When completed, Riverwalk will be the largest neighborhood between south Charlotte and Columbia. Saussy Burbank has completed their model home in Rivrwalk and already has 17 home sales.
Evans Coghill Homes has a model home under construction and the model will be completed by the end of August. Alan Banks, one of the partners of Evans Coghill Homes believes that with the proximity to Charlotte, low taxes, great schools and good land values that Riverwalk is poised to take over the success that Baxter Village has enjoyed for many years. Riverwalk will offer amenities never before seen in Charlotte and Evans Coghill is poised to make Riverwalk a major part of their business plan for the next five plus years.
If you are in the market for a new home, now is a tremendous time to purchase. Builders have negotiated low land prices, they are offering extremely attractive incentives and interest rates are near all-time lows. If you have further questions about York County or the housing market in general, call me, I can help.
Cheers!
Ben Bowen
The highest-priced single-family home sale from May 22 to 28 was sold by Ben Bowen Properties
By Scott Baughman, staff writer
Published: May 31, 2012
Time posted: 4:43 pm
Tags: Commission Accomplished
HIGHEST
404 Eagle Bend Drive, Waxhaw
Listing agent: Ben Bowen, Ben Bowen Properties
Selling agent: Callie Kelly, Cottingham Chalk Hayes
Sold price: $1.78 million
Square feet: 9,209
Ben Bowen doesn’t understand why, but for the house at 404 Eagle Bend Drive more inspectors came around than for other houses he’s listed.
“We had about five home inspections,” said Bowen, of Ben Bowen Properties. “One inspector came only to check on the roof, and then another for a different aspect of the house, and so on.”
Also slightly unusual, at least for Bowen: The home was under contract for 60 days before closing, longer than his normal 45 days.
The house, which Bowen said was built in 2009, sold last week for more than $1 million. In the Longview Country Club neighborhood, which is gated, the home comes with six bedrooms and seven and a half bathrooms and sits on a 0.57-acre tract.
Bowen said the home was listed with him for about six months and he had only about 10 showings before it sold.
“At this level, you don’t get a lot of showings, so you have to make sure you spend as much time with each potential buyer as you can,” he said. “And while I love golf, selling this home is really more about selling the lifestyle that comes with it living in Longview.”
Bowen said the club features tennis courts and a Jack Nicklaus-designed course.
Bowen, who said he’s been selling golf course homes since 1996, said he has to spend a lot of time educating sellers these days on pricing their homes properly.
“People’s homes – even luxury homes like this one – are not worth what they were five years ago,” he said. “They have to understand that before they can sell it.”
Selling agent Callie Kelly, of Cottingham Chalk Hayes, said there appears to be an uptick in luxury home sales this year compared with last year.
“But I have no idea why,” she said.
Bowen said the home’s selling price was in the average price range for homes he lists, adding that he has 12 homes listed, including a 15,000-square-foot mansion that’s by Lake Wylie and comes with 11 acres. That home is listing for about $7.5 million.
Please feel free to contact me by email at bbowen@benbowenproperties.com or on my mobile phone at 704-572-6070 to find out how we can help you in the purchase or sell of your luxury home.
Cheers!
Ben Bowen
I was recently asked to write an article for the Charlotte Business Journal In a feature called “Ask The Expert”. The goal of the article was for an expert in sales to help business owners and executives sharpen their selling skills,
“What Can I Do To Improve My Selling Skills?”
Here is a link to the article:
http://www.bizjournals.com/charlotte/print-edition/2012/02/03/expert-advice-on-your-questions.html
I have also copied the article below, but my question to you is “Does your real estate agent show homes, or do they sell homes?” Selling is a process that can be learned through experience. If you want results when buying or selling a home, go with an expert.
What can I do to improve my sales skills?
The first step towards improving your sales skills is to truly understand what selling really is. Selling is a three step process which includes:
1. Discovering a buyer’s needs and wants.
2. Demonstrating how your product or service fulfills those needs and wants.
3. Getting the buyer to take action.
Most people in sales are pretty good at demonstrating their product or service, but it is extremely important to first uncover exactly what problem the buyer wants your product or service to solve for them. After “Discovering & Demonstrating”, the true sales professionals are the ones who can get the buyer to take action; close the sale.
Cheers!
Ben Bowen
What is a QR Code and do they really work?
QR Code is short for Quick Response Code and they are two dimensional bar codes that enable a smart phone to “photograph” the image. This then sends the smart phone to a website that is tied to this QR Code. They originated in Japan and have actually been around since 1994.
QR codes have provided a quick, easy way for consumers and individuals to interact with the physical world around them, all the while obtaining the digital information they so desperately crave. QR codes are only becoming more advanced and more prominent, so get yourself a free app on your phone and start exploring the world of QR codes today!
The virtual tours for my listings average between 4oo and 2,000 views on any given week. QR Codes have accounted for between 5% to as much a 20% of my viewings. This does not even take into account the number of times a person goes home to their computer and looks at more photographs because of what they saw on their smart phone.
When I receive a call from a buyer sitting in front of one of my listings and they want to go inside to see the home because of the pictures they are able to see on their smart phone; I know they work!
Cheers!
Ben Bowen
So often I am asked “How’s the market?” I would venture to say that most people, real estate agents included, really don’t know. They instead tell you how busy they are or what they have heard on mainstream media.
Since I specialize in luxury homes and golf course communities, I make it my business to KNOW what is happening. I would like to share some pretty amazing numbers with you.
GET READY!!!
• Ballantyne Country Club Average Price is $696,103
• Longview Average Price is $954,515
• Piper Glen Average Price is $698,900
• Providence Country Club Average Price is $525,048
• River Run Average Price is $617,044
• The Peninsula Average Price is $1,082,275
• The Point Average Price is $1,162,892
So, the next time somone asks you “How’s the market?’, now you will know. The market is in Charlotte’s leading golf course communities is currently trending WAY UPWARD! Real estate is like the weather, it is very local. The local luxury home golf course community market is enjoying some tremendous rays of sunshine right now!!! Look out for the rainbow!!!
Listing and selling a home today involves far more than simply putting the listing into MLS and waiting on the phone to ring. I recently went on a listing appointment and the real estate agent the sellers had interviewed prior to me said “All I can do is put your listing into MLS and see what happens”. True story! Unbelievable!
In order to survive and thrive in today’s real estate market, it is so important that the agents are utilizing all of the latest trends in technology. All of my homes listed are photographed by a professional photographer and have websites built specifically for that listing, this information is distributed to over 200 websites, not to mention to the 1,000 plus real estate agents in my data base. The home listed is also featured on all of the top real estate search sites such as Realtor.com, Trulia, Zillow, and so many more.
In addition to this, my listings are featured on You Tube (which is the #2 used search engine on the internet, behind only Google), Facebook, Linked In, and Twitter. You have to spread the word in this social media world we live in and selling your home is no different.
To learn more, please click the following link to a recent article featured in the Charlotte Business Journal about Ben Bowen Properties.
http://www.bizjournals.com/charlotte/print-edition/2011/07/15/tying-technology-to-real-estate.html
Cheers!
Ben Bowen
