Charleston Real Estate Podcast with Dave Friedman

Which Home Renovations Get the Best Returns?

dave@davefriedmanrealestate.com (Dave Friedman) — Tue, 14 Mar 2017 11:13:00 -0700

Some renovations are better than others when it comes to preparing your home for the market. Think about the renovation cost versus the return you will get on your investment.

There are many great Charleston area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (843) 972-3833 for a FREE home buying or selling consultation to answer any of your real estate questions.

When you are preparing your home for the market, you may want to make some renovations in order to net more money on your home sale. Which renovations get better returns than others?

Keep in mind that less is more. Large-scale jobs aren’t likely to return their full costs but there are investments worth doing in anticipation of an upcoming sale. Some renovations return 100% of their costs while others get less than half of the money back. Still, some renovations can improve your market position and the probability that your home will sell.

Lower cost projects tend to return greater value. For example, the national average cost for a steel front door replacement is $1,200. That is the least expensive project on the list and it also gets the highest return. In fact, you can expect a 101% return on investment. In 43 of 102 markets surveyed, new doors recoup more than 100% of their costs.

Other projects that get a good return on investment are mid-range garage door replacements or upscale garage door replacements, mid-range wood window replacements, and minor kitchen remodels. Notice a pattern here? With the exception of a kitchen remodel, these are all replacement projects.

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Generally speaking, less is more.

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In general, replacements cost less and provide a bigger payback than remodeling or adding square footage to a home. First impressions are very important to buyers, so replacing things that they will see right away, like the front door, garage door, or siding will help you net more money on your home sale. Manufactured veneer gets a 92% return on investment.

When it comes to remodels, though, kitchens will still get you the most bang for your buck. For example, a small, $20,000 remodel will get you a payback of 80%.

Just how much you recoup from home improvements depends on which updates you make and which region of the country you are in. Other factors to take into account include figuring out which updates are typical for your specific neighborhood and, of course, the quality of the work.

Check out this cost versus value report before you get into any renovations or remodels. We even have a professional stager on our staff who can tell you exactly which repairs will help your home sell for the most money.

If you have any questions, please don’t hesitate to reach out to us. We would be happy to help you!

Introducing a Tool That Will Make 2017 Your Best Year Yet

dave@davefriedmanrealestate.com (Dave Friedman) — Tue, 7 Feb 2017 14:32:00 -0800

I have a tool that I want to show you that will help you make 2017 the best year of your life.

Today I have a tool that I want to show you that will help you achieve the success you desire in 2017. This tool is a goal-setting template, and it’s the same one my team and I use to reach our goals. Within this template, there are 10 categories through which you can divide your goals for a more comprehensive personal and professional development:

Professional Growth/Expanding Skillset
Sales
Team Culture
Conversion
Tracking
Faith
Family
Fun
Fitness
Finances

The goal you set for each individual category should conform to the criteria of the SMART method. That is to say, your goal should be specific, measurable, attainable, realistic, and timely.

In the video above, I’ve used the finances category as an example of how effective this tool can be if one of your goals is moderating and protecting your monetary interests.

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I’m challenging you to implement this simple tool that will change your life.

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I really hope you use this tool so that 2017 is the best year you’ve ever had. I know that it’s going to create the best year for me, and I want the same for you, too. If you have any questions about this tool or would like me to email it to you, please reach out to me so I can share it with you. I would be happy to help!

How Are Rising Interest Rates Shaping Our Market?

dave@davefriedmanrealestate.com (Dave Friedman) — Wed, 18 Jan 2017 08:14:00 -0800

Interest rates are on the rise in our market. If you’re planning on buying or selling, here’s what you need to do.

In case you haven’t heard, the Federal Reserve increased interest rates last December and are planning an aggressive approach in 2017. Since the election, rates have risen in total by about 0.75%, and we can expect them to rise further by a full percentage point by mid-summer.

What does that mean for you as a buyer or seller?

If you’re a buyer, the same home that you could’ve purchased last year will now cost you more. The monthly payment for a $500,000 house, for example, will now cost $200 to $300 more. If you’re a seller, your buyer pool is shrinking because not as many homes are affordable to them anymore.

The good news is that we still have historically low inventory and interest rates. There are also still plenty of buyers out there looking to buy. We know this because, despite this uptick in rates, we still get a lot of inquiries. Buyers even have a bit more wiggle room to negotiate than they would have had in the past because there aren’t as many multiple offer situations happening.

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Both buyers and sellers should act now before rates increase further.

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If you’re planning on buying, do it now while you have a much better chance to lock in a low rate. If you’re a seller, you should also act now before your buyer pool shrinks even further thanks to those rising rates.

If you have any questions or are interested in buying or selling soon, feel free to pick up the phone and give me a call. I look forward to helping you!

What You Should Know About Flood Insurance

dave@davefriedmanrealestate.com (Dave Friedman) — Fri, 16 Dec 2016 10:34:00 -0800

I sat down with insurance expert Mark Allen to find out the keys things you need to know when considering flood insurance.

We all know that weather can be unpredictable, and although hurricane Matthew was luckily not as bad as we expected it to be, it showed how important it is to have flood insurance in the Charleston area.

Insurance expert Mark Allen dropped by to explain why it’s so important to have an insurance plan in place and what to look out for when selecting a polifcy. Here are some things to consider when selecting flood insurance:

Think of your insurance policy as an invisible safety net. Living on the coast has its perks, but if Mother Nature takes a turn for the worse, having a plan to fall back on for repair or damage costs will make sure you can sleep easy.
Most homeowners insurance policies will cover not only flood but also wind and hail damage. Making sure you cover all your bases when it comes to unpredictable weather is key. Luckily, you can select a policy that will have you covered in any circumstance.
Make sure you check to see if you have one or several policies covering you for flood and weather related damage. Homeowners insurance should cover everything, and it’s much easier to have one policy than have several with different deductibles and coverages.
Remember that not all policies are created equal. Different policies will include different deductibles or coverage amounts and different types of coverage as well. Make sure your policy is right for you and your home.
Don’t fall for the “sticker price.” Many insurance agencies will try to sell you a policy without combing over the fine details. Different coverage amounts and types of coverage can sneak in, so make sure you know exactly what is and is not in your policy.
Don’t forget about your personal items inside the home. Make sure you have proper coverage for both the inside and outside of your home.
Talk to someone who will insure your home in the way they would want their home insured. Finding an insurance agent who walks you through your policy and makes sure you understand all the details, like what you are taking out or including, will help make sure you are getting the right coverage for the right house.
Get a flood quote. At the very least, you will understand what it is going to cost to include your personal items in your flood coverage.

If you have any further questions regarding flood or homeowners insurance feel free to give Mark a call, visit 1stCapitalIns.com, or shoot him an email. If you have any questions about the Charleston or Mt. Pleasant real estate markets or you're considering buying or selling a home, give me a call or send me an email. I'd be happy to help.

The Meat and Potatoes of Homeowners Insurance

dave@davefriedmanrealestate.com (Dave Friedman) — Fri, 2 Dec 2016 12:35:00 -0800

Getting homeowners insurance can only help you in the long run, but knowing what plan works best for you depends on a few important factors we’ll discuss today.

As we all know, weather isn’t exactly predictable. That’s why, as a homeowner, it’s absolutely necessary that you have an insurance plan in place that will protect you and your property in the long run. Insurance agents provide an invisible safety net that saves you money and time down the line.

With that in mind, today we’re joined by Mark Allen from 1st Capital Insurance to explain the basics of what sort of insurance plans you should investigate and the typical costs of obtaining them.

According to Mark, the number one thing that Lowcountry residents need to look out for when looking for insurance in a home are the deductibles. What are they covering? There are differences between an ‘all other peril’ (AOP) deductible and a ‘wind and hail’ and/or ‘named storm’ deductible. The named storm or wind and hail deductible is normally a percentage of your dwelling. For example, let’s say you have a $300,000 house and you have a 2% named storm or wind and hail deductible. That means your cost would be $6,000. The all other peril deductible has to do with fire, vandalism, theft, water damage, and other things of that nature.

As to how much flood insurance costs, it depends on your house’s location and its elevation. Normally people in Mark’s business get what is called an “elevation certificate,” which tells them how high the house is and how well the house is vented so that they know how much to charge appropriately.

To Mark’s estimate, the typical cost of a flood policy for a $300,000 to $500,000 home would be around $500 a year, which covers $250,000 on the building and $100,000 in contest. That’s the maximum that FEMA allows. You can get other policies that cover you over and above that, but that’s the typical FEMA policy.

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Lowcountry residents need to be mindful of deductibles.

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For homeowners living around water areas, Mark’s advice is to watch for how much the house would cost to rebuild, because that’s what insurance companies measure to determine their rate. If you make any major changes or renovations to your home, make sure to call your insurance company and update your policy information.

Stay tuned for part two of our series with Mark where we’ll cover the business of homeowners insurance in greater depth. In the meantime, if you want to get in touch with him, you can call his office at (843) 216-2772 or visit his company’s website at www.1stcapitalins.com, or email him at Mark@1stcapitalins.com.

If you have any other questions, feel free to give me a call or shoot me an email. I look forward to helping you!

Pie-ing and Selling in the Charleston Marketplace

dave@davefriedmanrealestate.com (Dave Friedman) — Thu, 3 Nov 2016 14:25:00 -0700

Our annual free pie giveaway is right around the corner, and if you have a house that you need to sell, now is the time to list it.

There are many great Charleston area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (843) 972-3833 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today, I wanted to discuss our annual pie giveaway and give you a quick market update.

For years, our team has been giving away pies to all of our fans. It’s that time of year again, and we already have people calling us to RSVP for their pie. Because we’re so grateful to our wonderful community for supporting our business, giving you a pie is the least we can do.

To RSVP, please call us at (843) 972-3833 by the November 17th deadline. You can then pick up your pie at my office at 496 Bramson Court, Suite 200 in Mount Pleasant. The dates available for pickup are Nov. 21st from 9 a.m. to 3 p.m. and Nov. 22nd from 1 p.m. to 5 p.m.

There aren’t many buyers out there, but there are even fewer sellers.

Now, what’s happening in the Charleston real estate market? A lot of sellers are taking their houses off the market because they presume that there aren’t as many buyers out there. That is true; however, in midsummer, housing inventory hovered around 4.2 months, and now it’s at 3.9 months. That means you currently have better odds of selling your home now than you did a few months ago.

How? There are fewer buyers, but there are also even fewer sellers. That means less competition for you to deal with.

If you have any questions about buying or selling a home, please feel free to give me a call or shoot me an email for a free consultation or a free home evaluation report. I look forward to helping you!

How Do Buyers Know If a Home Is Priced Fairly?

dave@davefriedmanrealestate.com (Dave Friedman) — Thu, 6 Oct 2016 11:50:00 -0700

All home buyers have one thing in common: they do not want to get ripped off. Luckily, there are a few ways you can tell if a home is priced fairly.

There are many great Charleston area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (843) 972-3833 for a FREE home buying or selling consultation to answer any of your real estate questions.

All home buyers have one thing in common: they do not want to get ripped off. In today’s increasingly busy housing market, sales have risen to 5.46 million, which, according to the National Association of Realtors, is 7.7% higher than last year. In this busy market, it’s especially important to make sure that you’re getting the right price.

How do you know if you’re getting a fair value? Even if you’re in a tight market, you can figure out if a home is priced fairly before you make the offer. There are certain ways you can evaluate whether the price of any home is a sound investment or if you’re getting ripped off.

First of all, look at recently sold comparable properties. Comparable properties are similar in size, condition, neighborhood, and amenities. Your real estate agent is your best resource for accurate, up-to-date information on comparable properties, also known as comps.

You should also look at comparable properties that are currently on the market, under contract, or not selling at all. If a comparable property failed to sell because it was overpriced, the property you are interested in is probably overpriced too.

Look at comparable properties to see if the home you want is priced fairly.

You also have to consider the appreciation rates in the area. Are prices going up? Are prices going down? What do the days on the market look like? If you are in a seller’s market with very low inventory, high demand, and low days on market, you will have a better idea of what a seller is willing to accept. In an appreciating market, you can buy now and reap the benefits of further appreciation down the line.

If you are in a market with high days on market, lots of inventory, and very little demand, then you know that prices are starting to depreciate. In that case, make sure you buy 5% to 10% below the market value so that you don’t lose value as prices continue to drop. In depreciating markets, you need to buy your equity up front in order to make the best investment.

If you have any other questions about determining market value or about real estate in general, give me a call or send me an email. I would be happy to help you!

Can You Predict How Home Values Will Appreciate?

dave@davefriedmanrealestate.com (Dave Friedman) — Fri, 16 Sep 2016 11:56:00 -0700

How can you predict appreciation or depreciation for your home's value?

I'm often asked about appreciation, so I wanted to talk about how you can predict the annual appreciation or depreciation for your real estate investment.

My team and I study the market daily to predict appreciation rates for our clients. We look at sales over the last year compared to the current inventory, and based on this, we can determine the months of inventory.

Because real estate is very location-driven, the months of inventory will change from neighborhood to neighborhood. Months of inventory will determine the appreciation (or depreciation) rate you can expect for your home or investment. The future prospects for your chosen neighborhood can have a big impact on price.

If a big development is planned, such as a big mall or an extension of a light rail or highway, or there's a new company moving to the area, the prospects of future appreciation look good. Even small developments like plans to add a road or a small school are good signs. On the other hand, if grocery stores and gas stations are slowly closing down, then you can probably determine that home values will depreciate, and you might consider moving out of the area.

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If a big development like a mall or light rail is planned, appreciation could go up.

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New developments in housing can take it either way. If the area is hot, it's likely in high demand and increasing your home's value. However, if there is a surplus in new development (like a lot of new construction that you're competing against), it could hurt the value of your home and your appreciation.

If a builder came in and bought land at a very good value and started developing a lot of homes and devaluing homes in the surrounding area because of what they started selling those homes at, it could have a negative impact on you.

If you'd like a report about appreciation rates in your specific area, I'd be more than happy to put one together for you at no cost. If you have any questions about the Charleston market, give me a call or send me an email. I look forward to hearing from you!

The Benefits of Owning a Home Over Renting One

dave@davefriedmanrealestate.com (Dave Friedman) — Thu, 25 Aug 2016 14:03:00 -0700

Why does it make more sense for a person to own a home rather than rent one? There are many benefits, but according to a recent study done by Harvard University, all of them fall under two categories: financial reasons and emotional reasons. These two reasons can sometimes overlap, but we’ll review some of the financials first.

For starters, housing is a leveraged investment. Ask yourself—what else can you get a 30-year fixed low-interest rate loan on for an investment? On top of that, homes in our area appreciate anywhere between 3% and 5% per year. The second financial benefit is that you’re paying for a home whether you own it or rent it. You need shelter and a place to live, right? You might as well own it and turn it into an investment instead of making your landlord rich.

The third financial benefit is that owning a home is a forced way of saving money. By that I mean a portion of that mortgage payment you’re making is going toward the principal that you owe on the home. As you pay that principal down over time, that becomes equity in your home. When you sell it, you get all of that money back.

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You’re paying for a home whether you own it or rent it.

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There are also substantial benefits in regards to property taxes. For example, you can write off certain expenses of your home investment against your income. At the end of the year, then, you’ll either be paying less in taxes or getting a larger cash refund. For greater detail on all the specific tax benefits, be sure to talk to your CPA. Owning a home also allows you to hedge against inflation, since real estate is a tangible asset.

The emotional reasons need far less explanation. For one thing, we all share the basic human need for physical shelter. After that’s accomplished and you perhaps decide that you want children, you need a place to raise them. After those boxes are checked off, you have the ability to pass along wealth to your family. And finally, owning a home means having control over your living space.

If you have any questions about real estate or homeownership, give me a call or send me an email. I’d be happy to help you out!

We Want to Take You Out to the Ballgame

dave@davefriedmanrealestate.com (Dave Friedman) — Thu, 9 Jun 2016 07:47:00 -0700

We want to invite you to a Charleston RiverDogs game at Joseph P. Riley Jr. Park as a way to say thank you, and we’re also raising money for charity. All of our friends, colleagues, and past and current clients are welcome. The game is on June 14th, and our free picnic will start at 6:00 p.m.

For every person that attends, we will donate $10 to the MUSC Children’s Fund in order to send children to Camp Can-Do, which is over on Seabrook Island.

Our goal is to donate at least $3,000, but we need your help to do so! We still have lots of tickets left, so just call the number on the screen and tell us how many tickets we should reserve.

There will be free food and drinks starting at 6:00 p.m., and the baseball game will start at 7:00 p.m.

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WE'LL DONATE $10 TO THE MUSC CHILDREN'S FUND FOR EVERY ATTENDEE.

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Last but not least - it’s still a great time to sell a home in Charleston. We’re still in a seller’s market, but when rates rise it may be more difficult to sell a home. If you list now you can cash out and then buy a home when the market is in your favor.

Buyers should also be aware that it’s a great time to purchase with interest rates still so low. However, they may see a small rate hike in June that could affect affordability. If you’re thinking of buying, get in touch with us now before your affordability takes a hit and you’re knocked out of your ideal price bracket.

If you have any questions about this event or about our local real estate market, please don’t hesitate to contact me!

What Does the Charleston Housing Market Look Like?

dave@davefriedmanrealestate.com (Dave Friedman) — Wed, 13 Apr 2016 10:59:00 -0700

Today, I’m here with a real estate market update for the Charleston area. I’m reviewing some data from this year’s first quarter! Additionally, I’ll talk about some great events happening locally in the next few weeks.

April is here and the azaleas are in full bloom! Our city looks beautiful this time of year. Summerville just had a great Flowertown Festival weekend. The weather was great for such a gorgeous event! It’s an opportune time to take a relaxing stroll through the Middleton or Magnolia Gardens. They’re definitely a must-see this season.

We recently had 35,000 visitors in town for the Cooper River Bridge Run. Despite the rain, the event went on with flying colors. Isn’t that incredible? We also had the WTA Tennis Tournament on Daniel Island from April 2nd to the 10th.

There’s still time to take advantage of other fun events happening this April in our area. Enjoy the 69th annual Garden Tours festival until the 25th. The Farmer’s Market has also already started with live performances. The Spoleto Festival is coming up in May, so it’s time to start planning for that, too!

And now it’s time for a market update. Our housing market is booming here in Charleston. Market activity has increased while inventory levels have stayed incredibly low. Prices increased to 6.6% compared to last year, but they’re doing so at a reasonable pace consumers can keep up with. In January and February, buyer activity increased 10% compared to 2015. The median sales price right now rests at around $235,000. Will buyer activity exceed 2005’s and 2006’s records?

Charleston is at the top of the charts. Our city was voted number one by Conde Naste and other major publications. U.S. News & World Reports ranked our area as the 19th place to live in the entire country.

If you’re thinking about buying or selling a home in Charleston, reach out via phone or email. I’d be happy to help answer any questions you might have!

6 Problems to Avoid to Make it to the Closing Table in Charleston

dave@davefriedmanrealestate.com (Dave Friedman) — Mon, 7 Mar 2016 14:59:00 -0800

There are many reasons why a real estate deal that seems legitimate might not make it to the closing table. Today, I want to cover six reasons home deals can go straight to hell.

1. Your credit score changes. It’s extremely important for the buyer to understand they can’t get any hard inquiries on their credit report. Don’t go out and buy a car or a big piece of furniture. Avoid anything that will impact your credit score throughout the home buying process. There’s a document we send to buyers to make sure they understand that, because sometimes their lender or Realtor won’t educate them on those things.

2. An inspection creates conflict. We recommend that sellers do a pre-inspection before putting their home on the market. That way, you don’t have to worry about any surprises after the home is under contract. You can address any issues ahead of time, and the buyer won’t back out of the contract during the inspection period.

3. A buyer isn’t pre-approved for a home loan. Many buyers will come to me with a pre-approval when they’re looking to buy a home. However, oftentimes the pre-approval is not worth the paper that it’s written on. It’s really important that you work with a great lender when getting that pre-approval. I make sure that the lender fills out a verification form that confirms that they have checked the buyer’s credit, employment history, source of down payment, income, and debt. This is a lot more powerful than a simple pre-approval.

4. Buyers run out of money. A lot of buyers go into the transaction not knowing how much money it takes. There’s a number of items you have to pay for up front, such as an appraisal and a home inspection. By the time you get to the closing table, you might not have the money for the down payment. On the seller side, I always verify what the payoff letter is. The payoff is $1,000 to $2,000 more than your mortgage statement.

5. Either party blows small problems out of proportion. This comes down to experience. I’ve been in the business for 17 years. My experience allows me to mitigate small issues in order to get you to the closing table.

6. Buyers get cold feet. It’s extremely important to keep the buyer engaged and excited about the home throughout the transaction. If you’re a seller, you don’t want the closed date to be set 60 days from now. Statistically, the farther away the closing date is, the more likely it is that the deal will fall through. Instead, go for a 30 or 40 day closing period. Lenders shouldn’t need any more time than that.

These are six reasons home deals might fall through. Check out this link that details other problems that could send a deal straight to hell.

If you have any questions, give me a call or send me an email. I would be happy to help you!

What Do Recent Charleston Market Trends Mean for You?

dave@davefriedmanrealestate.com (Dave Friedman) — Wed, 25 Nov 2015 08:14:00 -0800

It's time again for another Charleston real estate market update! What trends have we seen lately and where is our market heading?

Right now, we've already surpassed the amount of homes sold last year, and we plan on clearing 15,000 closed homes! This is the busiest year we've had in 12 years and the third busiest year we've EVER had.

October was a bit slower than September, but that's to be expected. This typical of our market, as October is usually the cool down period after the hot summer months. Many markets in the area have seen median sales prices jump as high as 10%, but most markets are beginning to stabilize, which is great news for our market.

Rates are still fantastically low, as they're floating around 4.2%. This makes now a fantastic time to lock in a low rate on a new home if you're looking to buy! If you're looking to sell, now is a great time as we've seen a dip in inventory and the buyers who are out looking at this time are highly qualified and serious about purchasing soon. Many sellers are getting extraordinary values for their homes, but much of that is dependent on the condition and location.

If you would like a more detailed look at the Charleston market, or if you need real estate assistance of any kind, please don't hesitate to reach out to us. We would love to hear from you!

What Is the Best Way to Search for a Home in Charleston?

dave@davefriedmanrealestate.com (Dave Friedman) — Thu, 5 Nov 2015 09:50:00 -0800

A lot of people ask me where they can find the best homes in Charleston, and I'm happy to tell you that there are a lot of good options for you.

The Internet is a great place to start looking for homes. There are dozens of real estate websites, such as Zillow, Trulia, Realtor.com, etc. These websites are great starting points for your home search, but they don't always have the most reliable data put on them. Some of the listings are outdated, so a home that you're eyeing may actually have sold months ago. If a home is in good condition and priced correctly on Zillow, it's probably already been sold.

I have a great Internet tool to suggest to you, and it's called the Market Snapshot. We deliver you information about homes that you're interested in. So if you want a four bedroom, three bath, with a three car garage and a pool, we can alert you via email when a listing like that comes onto the market.

However, the downfall of the Internet is that it's not real. Sometimes what you see is not what you get, and that's why sometimes simply going out and looking at properties is the best thing that you can do. You can drive around and look at properties, but a better strategy is to hire a local real estate agent to show you homes.

I have access to some of the best homes in Charleston, and some of them aren't even on the market yet! If you search on my website (www.davefriedmantv.com) it's updated every fifteen minutes. You just need to go in and set your parameters (# of bedrooms, # of baths, square footage) and you will receive alerts when a similar home becomes available.

Because inventory is so low, we also have a 'coming soon' list of homes, and this allows you to escape the competition and find a good home very quickly.

If you want to find some of the best homes in Charleston then please don't hesitate to contact us. We have access to premier listings in Charleston, and you'll need our help when the market is this hot!

How Has the Recent Extreme Weather Impacted the Charleston Market?

dave@davefriedmanrealestate.com (Dave Friedman) — Tue, 3 Nov 2015 13:36:00 -0800

There are many great Charleston area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (843) 972-3833 for a FREE home buying or selling consultation to answer any of your real estate questions.

The recent bombardment of heavy rain here in Charleston has, as you might expect, drastically affected our real estate market here. However, the impact of the floods varies depending on the neighborhood. For instance, Mount Pleasant was hardly affected, while other areas in the Tri-County were devastated.

Most of this month, the Charleston Trident Association of Realtors is really focusing on relief for people and families affected by the flooding we've seen. In fact, so far this month we have contributed over $25,000 to various organizations, which include the Realtor Relief Fund, The American Red Cross, and Salvation Army. Most of this money ends up in the hands of families who need the help. Additionally, there are currently some closed-door talks happening with FEMA, which should result in more relief for people who need it.

Here at Dave Friedman Real Estate, we have made personal contributions to various other organizations as well. If you or someone you know needs help as a result of the rough weather we've had, please don't hesitate to reach to me via phone or email. I would love to put you in touch with some resources that will be able to give you immediate help.

Most people are surprised that the Low Country wasn't as affected as some places in the middle of the state, like Columbia, which was hit hard. We've seen some flooding here, which has resulted in relocation for some families, but overall the impact has not been as severe as many other places.

Moving forward, it's crucial that you talk to your Realtor about FEMA flood zones and whether your home or the home you're interested in buying is at risk.

If you are in need of immediate relief right now, again, don't hesitate to reach out to me. I can put you in touch with the very best resources to help you recover and keep your family safe. You can reach FEMA (Disaster Relief) at 1-800-627-3362 or give me a call at (843) 795-7950 for immediate assistance.

Thanks, and stay safe!

How Can You Be an Expert Negotiator?

dave@davefriedmanrealestate.com (Dave Friedman) — Mon, 3 Aug 2015 10:08:00 -0700

There are many great Charleston area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home,click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (843) 972-3833 for a FREE home buying or selling consultation to answer any of your real estate questions.

I became an expert negotiator as a very young kid. I was down in Mexico with my parents and honed in on a giant box of Chiclets. The man selling them wanted $5, but I only had $3. I went to go ask my mom for the other $2, but instead of giving me the money, she gave me a lesson in negotiating that I will never forget. I went back to the man, with the same $3 and a brand-new mindset, and bam! I bought the box of Chiclets for $3.

The best kind of real estate agent is one that can achieve their clients’ goals, while making the other party feel like they are winning, too. In every negotiation, everything is up for grabs and the best negotiator will always come out on top.

In real estate, negotiations start long before the first showing occurs. As an expert, I like to discover the motivations of the other party; that way you are armed with the information you need to negotiate the best terms.

To win, you’ve got to ask the right questions and use the right words. If any desperation is sensed, you’ve lost the foundation you’ve built. The minute you act like you are afraid, you have lost the negotiation.

Becoming a good negotiator takes a lot of practice. You have to constantly hone that skill until you are unconsciously confident in being a negotiator.

If you have any questions or want to become a better negotiator, give us a call or send us an email. We look forward to hearing from you!

Are Charleston Tri-County Home Values on the Rise?

dave@davefriedmanrealestate.com (Dave Friedman) — Wed, 29 Jul 2015 10:40:00 -0700

There are many great Charleston area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home,click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (843) 972-3833 for a FREE home buying or selling consultation to answer any of your real estate questions.

It's time once again for a brief update on where the Charleston Tri-County market is heading and what it means for you!

We've seen a huge improvement in the market when comparing January-July 2014 to the same time period this year. Right now, the amount of transactions is up 17%, while the amount of transaction volume is up 23%. The great news is that, while there are a lot more sales this year, there has also been a spike in listings, as we've seen 11% more new listings this year in comparison to last year.

As the summer continues, more and more sellers are gaining equity in their homes and they are able to sell them for what they are actually worth. The great thing is we'll continue to see a lot of listings come on the market throughout the year before tapering off around November. Additionally, we've seen a modest appreciation of home values this year, around 5%, which is indicative of a stable, healthy market.

If you're a seller, it's still a great time to put your home on the market, as inventory is very limited, so homes are selling quickly and for about 97% of the asking price on average. If you're buying, working with a real estate professional will give you the best shot at locking in the home of your dreams in this competitive market.

If you have any questions, or if you need real estate assistance of any kind, don't hesitate to reach out to us. We're always available to be your Charleston Tri-County real estate resource.

How Can We Generate Multiple Offers on Your Charleston Home?

dave@davefriedmanrealestate.com (Dave Friedman) — Fri, 1 May 2015 14:23:00 -0700

There are many great Charleston area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home,click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (843) 972-3833 for a FREE home buying or selling consultation to answer any of your real estate questions.

In an effort to get multiple offers on one of my listings, I follow a very strict process to generate a feeling of urgency around the home. One way we do that is by doing a lot of pre-listing marketing.

We start by creating a specific website for your home and work to drive traffic to it. We also use social media to target people who are most likely to buy your home. In a four-day period, we can generate between 6,000 and 8,000 impressions, and get 500-600 people to actually click on the advertisement to view your property. This strategy is fantastic because we can measure how many people show interest in your home.

We also have a Buyer in Waiting Program - people who sign up for this give us permission to send them emails with unlisted and newly listed homes. Once you list with us, we'll send out an email list to this pool of motivated buyers. Every month, we have over 300 new buyers who use our site to find a home, so we are able to place your home directly in front of an audience of serious buyers.

Once we release your home to the market, we'll typically not allow showings for the first four days. This way, we are able to structure appointments so that each potential buyer sees that other people are interested in the home. Showing many buyers your home at once creates a sense of urgency and will usually end in a bidding war for your home!

If you have any questions about how you can make the most of your home sale, or if you need real estate assistance of any kind, give me a call or shoot me a quick email. I would love to hear from you!

Handling Multiple Offer Situations in Charleston

dave@davefriedmanrealestate.com (Dave Friedman) — Thu, 30 Apr 2015 14:37:00 -0700

There are many great Charleston area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home,click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (843) 972-3833 for a FREE home buying or selling consultation to answer any of your real estate questions.

Charleston is one of the hottest real estate markets in the nation, and we're seeing a lot of multiple offer situations here because of that.

If you're a buyer in a multiple offer situation, you really need to take a step back and evaluate if the home is right for you and whether it's worth fighting for. If you decide to go through and try to purchase the home, there are a few things that we'll do with you.

Ask questions: We need to know how much you're willing to spend on a home, and what else we can negotiate. Price is not always the top factor for a seller; sometimes they just need to sell the home quickly and without contingencies.
Find the seller's motivation: We try to pinpoint the seller's motivation, because this allows us to make the strongest and most appealing offer on your behalf. We've won homes without offering the highest price because we've understood the motivations of the seller.
Escalation Clause: We can write into a contract that you're willing to offer (for example) $300,000 on a home and you'll offer $1,000 more than every offer until the price surpasses $320,000 (or whichever number you choose). This way, we can offer the most amount of money, yet you can control how much you're paying for a home.

Hopefully this information can be useful to you if you find yourself in a multiple offer situation in Charleston.

Please don't hesitate to contact me if you have any questions or concerns about this information. I'm always here to help you!

Where Is the Charleston Market Heading and What Does It Mean for You?

dave@davefriedmanrealestate.com (Dave Friedman) — Wed, 29 Apr 2015 14:12:00 -0700

There are many great Charleston area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home,click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (843) 972-3833 for a FREE home buying or selling consultation to answer any of your real estate questions.

As the spring market kicks into full swing, we're coming off the best first quarter since 2005! Sales are on fire, inventory is extremely low, and homes are selling a lot faster than what has been typical over the last two or three years.

Because inventory is so low, the Charleston market is very favorable to sellers. If you're a buyer in today's market, you need to be ready to act quickly on a home that you think is desirable, as there will likely be other people who are interested in the home as well. The crazy thing about our inventory levels is that they are about as high as they are going to be for the rest of the year.

Over the past year we've seen an increase in home prices, from a median home price of $215,000 in 2014 to $221,000 this year. Interest rates remain at historic lows, hovering between 3.5% and 4.5%. The Fed has said they plan on increasing interest rates, which will decrease your purchasing power substantially. Rising rates will slow down the buyers who are out purchasing because homes won't be quite as affordable.

Now's the time to get the most out of the Charleston market. Low rates are great for buyers despite a crowded market, and now's the time for sellers to get top dollar, as inventory is incredibly low. If you would like to discuss your options, or if you need real estate assistance of any kind, give us a call or shoot us a quick email. We would love to help you out!

How Can You Help Make Us the Best in Charleston?

dave@davefriedmanrealestate.com (Dave Friedman) — Tue, 27 Jan 2015 08:19:00 -0800

How Can You Help Make Us the Best in Charleston?

Hello, and welcome back to our blog! We truly appreciate the continued support you've given us. Without you, we would not have won the title of Best Realtor for Charleston in 2014.

On a day-to-day basis it's my mission to deliver world class service to our community. Today, our mission is to retain our title as Best Realtor in Charleston. Every year, the Charleston City Paper conducts a contest to determine which business are the best in Charleston. With your support last year, we were privileged to win the Best Realtor category in 2014.

With continued emphasis on customer service and client results, we're hoping to defend our status as the best in town for 2015! In order to do so, we need your help!

To vote for us as the best Realtor in Charleston, click here!

Here is how you can vote:

Voting Instructions:

1. Click on link to “Register/Log In” and register your email address

2. If you are registered, then enter your password and go to Step 4. If not, fill out the form and go to stop 3.
3. Go to your email and click on link that is provided.
4. Go to bottom of Shops/Wares section.
5. Go to Best Realtor and Enter Dave Friedman!
6. Click Vote!!

Voting for the Best of Charleston has already started, and continues until February 17! We would really appreciate it if you took the time out of your day to show your support!

If you have any questions about the contest, or need real estate assistance of any kind, don't hesitate to give me a call or shoot me an email! I look forward to hearing from you!

How we helped Karen buy a home by staying on top of everything

dave@davefriedmanrealestate.com (Dave Friedman) — Fri, 2 Jan 2015 11:14:00 -0800

"We had a great time working with Dave. He found us the perfect house and even after closing, he’s still helping us which is above and beyond. He let us keep the key-box so that we can get some work done on the house since we won’t be moving in until the end of January. When we move in it will be all ready for us! I had the house painted and all other kinds of things done. He even recommended a painter which worked out fantastically and was just on top of everything through the whole transaction."

What Can You Expect from the Charleston Market in 2015?

dave@davefriedmanrealestate.com (Dave Friedman) — Tue, 30 Dec 2014 07:53:00 -0800

It's hard to believe, but the end of the year is upon us! With 2015 right around the corner, there's no better time to take a look back at what we saw in the Charleston real estate market in 2014.

It's been a fantastic year for values in the Charleston area, as the median home price is up 9% from this time last year. The average days on market has been consistent over the last 12 months, hovering around 79 days. While that's pretty low, it's not quite as low as my listings' average market time, which sits at only 32 days.

Currently, interest rates are at 4% in Charleston. At the housing peak in 2007, the median sales price reached a height of $207,000 before the crash. In February of this year we actually passed that number, and the median sales price now sits at $217,000. Despite the highs and lows we've seen in the last decade, home prices have trended to where they were expected to, according to historic price line data.

The most recent housing affordability indicates that Charleston is still a very affordable place to own a home. This rating doesn't take into account our ridiculously cheap property taxes, which makes living here even more affordable than the report indicates.

Looking ahead to 2015, we expect our inventory to remain low throughout the year and listings to see an appreciation around 5% to 7%. Interest rates are expected to rise to 5%. Even though a 1% increase doesn't sound like a lot, that rise will actually decrease your buying power significantly. In other words, for the same monthly payment, you can only afford a home that is 10% less. This is definitely something to keep an eye on as new construction projects come onto the scene in the new year, as they will have both positive and negative effects on home values in the area.

Please stay tuned for our next video, as we'll talk about raising money for foster children around the Charleston area. If you have any questions about market conditions in your specific area, or would like real estate assistance of any kind, don't hesitate to give me a call or shoot me an email. I would love to give you a hand!

Have You Reserved Your Free Pie Yet?

dave@davefriedmanrealestate.com (Dave Friedman) — Wed, 19 Nov 2014 11:33:00 -0800

Have You Reserved Your Free Pie Yet?

With the holidays approaching, we just wanted to take some time to express our gratitude for all of you. You have made 2014 one of our best years yet and for that we are truly thankful. We hope we have been able to serve you well, whether it was through buying or selling a home, or providing you with information and educating you about real estate to become a better homeowner, buyer, or seller. We would love to continue providing you with valuable knowledge about the real estate market, so keep an eye out for our videos coming in the near future.

To let you know just how thankful we are for your business, we would like to offer you a free pie from a fantastic area bakery. Give us a call at (843) 972-3833 to reserve either an apple crumb or a pumpkin crumb pie by this Friday at noon!

After you get your order in, you can pick up your pie on either Tuesday, November 25th from 10-4 or Wednesday, November 26th from 10-1 at our office, located at 496 Bramson Ct. Suite 200, Mount Pleasant.

If you have any questions, feel free to give us a call at the number above. Happy Thanksgiving!

Charleston South Carolina Real Estate

dave@davefriedmanrealestate.com (Dave Friedman) — Mon, 10 Nov 2014 09:47:00 -0800

Don't Miss out on the Winter Selling Season

A lot of people think that the holiday season is not an opportune time to list their home and wait until spring. Actually, people who wait until the spring to list their home are missing out on a ton of great benefits that selling in the fall and winter has to offer. Here are 4 reasons why it is smart to list your home during the holidays:

1. Low Inventory
In the winter, your home has less competition and a better chance at standing out to buyers

2. Serious Buyers
There is a much more dedicated pool of buyers out there during the holidays. These people want to find a home, and may have some days off built up to go on showings and look at all the homes out there.

3. Holiday Decorations
Subtle holiday decorations have been known to make homes show better. It not only improves its appearance for showings, but your online photos look better as well. Just don't go overboard with the decorations.

4. Low Interest Rates
Interest rates are still historically low, in the 3-4% range, and locking one in now could save you thousands of dollars down the road. Rates are expected to rise by at least 1% in the next year.

If you have any questions, be sure to give us a call or send us an email. We would be happy to answer them for you.