Category Archives: Uncategorized

Teresa Bowen has moved to Choice Residential Real Estate in Raleigh!

I am pleased to announce that I have moved to a new Real Estate Brokerage, Choice Residential Real Estate, started by our KW Team leader, Brian Hourigan, we have brought the most experienced agents from the Triangle together to give our clients the best possible Real Estate team in the Raleigh area. We currently have about 25 agents and quickly growing.  Our location is at 256 W Millbrook Rd, Raleigh NC, you’ll see the Choice Residential Realty on the cute townhouse door.

Advertisements

Preparing for a Competitive Bid for Your Purchase

There are a number of steps to take to help you win that competitive bid for your new home. In the Triangle area, many homes priced under $300k will enjoy competitive offers. So, as a buyer, if you are getting a loan, it is important to show you have pre-qualification from a LOCAL LENDER. A seller will view a local lender as someone who has skin in the game and will do their best to get buyers correctly qualified for the loan.  In addition, make sure you do not max out the amount of a loan your lender says you can afford.  I like what Clark Howard (Consumer Advocate) has to say:Clark Howard

mortgage graphic_s

 

Ratings of the Best and Worst Home Insurance Companies

When buyers are ready to purchase a new home, their lender will require proof of insurance at closing. This is the perfect time to shop at least 3 different companies to compare policies and costs.  Most of the time, customers will get the best rates when they bundle their auto and home insurance together.  I also encourage my clients to look into “Umbrella” policies which provide additional coverage for very little money (usually $1,000,000 policies).  Also, take time to review insurance company reviews, what good is a cheap policy if the company you work with refuses to pay or is very difficult to work with?  Lastly, many insurance companies act like our cable providers and reward customer loyalty by jacking up their prices higher than new customers pay! So it makes sense to review your insurance company and costs annually.

 

Clark Howard Post of Insurance RatingsInsurance rates

Home that lives like an Estate 5401 Mattwynd Fuquay NC

Sometimes you come across a property that stands out above the rest. 5401 Mattwynd in Fuquay NC just came on the market and it has become one of my favorites. What makes it stand out? The house was built in 2000 and the sellers did all the right things:

  •  Painted all of the interiors a neutral color
  • Replaced worn / discolored carpet
  • Replaced outdated light fixtures
  • Replaced kitchen appliances with new (the old were ready to die at any time) and replaced the old surfaces with level 1 granite.

The property has lush trees and is very private. But what makes it fun it the little pond in the back. As I walked towards the pond to take photos for the listing (Teresa Bowen Real Estate, Keller Williams), a large (10″ round) turtle watched me and slowly slid back into the water. The frogs all talked to each other, it seemed, and hop hop hop they also jumped into the water.  I could picture the new lucky home owners enjoying wine on the stone patio and observing the other wildlife that the pond invites!  Below is a link to the Youtube video I made of 5401 Mattwynd. I wish I could have caught “Myrtle the Turtle”!

 

 

Recommended Real Estate Agent for Raleigh, Cary and Holly Springs NC

Walter and Elise Nolan are moving to Apex North Carolina from New Jersey. They decided to move to Wake County based on the Triangle Area getting repeatedly mentioned on those “Best Places to Live ” lists. They found me as their agent by looking up agent reviews and on Zillow…who knew!! I usually forget to ask clients to review me, but now I see it really works. If you own your own business, remember to ask them for reviews!

Crucial insurance for home purchases and refis

Lenders ensure that they are covered in case there is  title dispute after buyers purchase a home.  However, it is equally important for buyers to pay just a little more money at closing and have their attorney buy title insurance for THEM.  This way , in the future, if there is a dispute regarding who owns the property…they are OK!

Get_homeowners_Title_Insurance

Where are Home Prices Headed in Wake County?

In Wake County, residential Real Estate sales are showing a positive trend for resale home prices.  Factors which affect the greater Raleigh housing prices include:

  • Showings are up 18% *
  • Resale Inventory is down 23%
  • Average List Prices are up 12% to $345,500
  • Days On Market are down to 104 from 120.
  • Average sales price increased by 4%
  • Pending Sales (homes under Contract) are up 28%

(* All figures are based on the change from this time last year 2012)

These metrics indicate that home prices are on the rise, at a steady rate. Factors which can affect this projection include how the new state budget affects the local economy, and our ability to still attract business to the area.

home prices over 30 years

Why not a Career in Real Estate?

The National Association of Realtors recently published its annual survey of the real estate profession and notable numbers.  It offers an upbeat snapshot about being a Real Estate professional. (Here in North Carolina, we are not “Real Estate Agents”, instead we take a much more rigorous course of study to become full Brokers straight away.) Below are some numbers of interest:

  • $54,900.  Average Broker’s Income
  • 40 Hours  per week  worked
  • $1.5 Million in sales volume per typical agent
  • 57% of agents are  Female
  • $4,520. Average annual business expense ( $1,770 of that is car expenses)
  • 4 of 5 agents are “very certain” they  will remain real estate professionals during the next two years.

I thought long and hard before deciding to become a  Real Estate broker, I select Keller Williams  in Cary NC to partner with because they are consistently rated as one of the best companies to work for in the United States, are known for offering the best educational programs in the industry, and have a huge referral network. Most importantly, our office ranks number one in customer satisfaction with both buyers and sellers…quality shows.

If you are thinking of a career in Real Estate, feel free to contact me for any questions tbowen@teresabowen.com

My first yard sign for Keller Williams Cary
My first yard sign for Keller Williams Cary

How to Haggle Like a Pro

When I first got out of college, I read the books, “You can Negotiate Anything” by Herb Cohn and “The Millionaire Next-door” by William D Danko.  Those books along with a penny pincer mentor/boss at IBM turned me into a lifelong haggler. My husband was not thrilled with my tight-wad ways when we were young…the hardest rule was NO NEW CARS. Buy used and drive them into the ground.  Now,  years later, with a recession, health costs, and twins heading to college, he recently told me how glad he is that we were so frugal over the years.

Negotiating guidelines:

  1. Master negotiators agree that negotiations should feel win-win. It is not a contact sport.  Be polite, friendly, and smile. Starting out as a hard-ass puts the other side on the defensive.
  2. Let sellers know you like them/their products/ philosophy or whatever creates a connection. For example, let them know you prefer to buy from local businesses or that you are a loyal customer.
  3. Point out flaws in the item you want. Look for the model with a scratch or dent.
  4. Use an app which scans barcodes and shows competitor’s prices and show the results to the seller or tell the sales person you checked competitor’s prices, such as RedLaser or Price Check by Amazon.
  5. Seek a discount for paying in cash.

Make it a part of your lifestyle to try to negotiate most things you buy.  Big hitters I have been successful with are: Cable rates (Tell them you want to speak to the retention specialist, NOT the first line call center people, tell them competitor’s prices and that you are ready to leave them), appliances, Medical or Dental fees, Cell phone plans, clothing, and the Farmer’s Market.   If I have people with me who want the same thing, like my kids, I will ask for a 3 for the price of 2 discount… “all I have is this $5 bill,”and smile smile smile. It works!

Benutzer:dapete and Benutzer:Ezrimerchant shak...

Heart of Cary NC Home for Sale

Housing in Cary North Carolina experiencing very low inventory – great for our home prices, bad for buyers! This property is a great deal and is located  near great  Cary Schools,  the historic downtown district and more!

<iframe width=”560″ height=”315″ src=”http://www.youtube.com/embed/XdGMhIwCG9Q&#8221; frameborder=”0″ allowfullscreen>