Charleston Real Estate Video Blog with Dave Friedman

Breaking down all of the costs that come with buying a house. What is the true cost of buying a home in Charleston? While the price tag is a huge consideration, remember that a lot more than just price goes into buying a house. However, today let's go through the buying process and see exactly how much it will cost.  The largest cost will always be the down payment. If you want to buy a $500,000 home but only get approved for a $400,000 loan, you will have to put down the difference. Make sure you leave the money in a bank account for 90 days before moving it.  There are also other fees to account for; the inspection fee, appraisal fee, title insurance, and attorney fees all fall into this category. I recommend budgeting around $3,000 for these costs, but it depends on the purchase price. If you're moving to Charleston, know that the sellers pay around 0.36% of the purchase price to the county because of something called deed stamps. In other parts of the country, buyers usually pay this, so remember that this is actually a seller's cost in our area. “The largest cost will always be the down payment.” You may have to pay adjustments too. Adjustments are compensation for expenses that the seller has already paid. The most common example is property taxes. If the seller has paid $5,000 in taxes for the whole year, you would have to pay back a portion of those taxes when you buy the home.  Another common adjustment is prorated mortgage payments. If you close on the home halfway through the month, they'll charge you interest for the half a month that you've owned the home. They'll also add the first month's mortgage payment to the closing costs. The last fee to keep in mind is moving fees. Even if you just ask your friends to help, you'll still have to buy pizza and beer. The overall moving cost will vary greatly depending on the distance, time required, and the size of the home. Moving across the country will be very expensive compared to moving locally.  If you're buying, we have an exclusive five-step system to help you find a home. The first step is home loan pre-approval, where we help you find out how much home you can buy. The second step is our home-hunter system. We will constantly email you new and off-market properties that match your criteria.  The third step is our specialized market knowledge. We help you get the home you want with our experience and leading-edge technology. The fourth step is our unique team sales approach. We can close your transaction quickly and hassle-free because you're not just hiring me; you're hiring a whole team who can help coordinate the experience for you. The last step is our value-build consumer program, where you'll receive preferred client benefits, including an exclusive sell-for-free guarantee and a home warranty.  If you have any questions about today's topic, please call (843) 972-3833 or email us. We'd love to speak with you.

  Welcome to our January 2022 Market Update! Today we're taking a look at residential activity in your area during January. The number of active listings was down 41% year over year, and down 25% over the previous month.

Here's a look at 4 myths you've probably heard about selling a home today You've heard the stories: Maybe your neighbors sold their fixer-upper as is for $100,000 over asking price. Or your friends were flooded with crazed homebuyers engaged in a bidding war within 24 hours of putting their house on the market. It's no secret that today's seller's market is wilder and more competitive than it's been in years, fueling sellers' hopes of major profits if they list their own home, too. All of which could be true—but only if you gauge your market carefully, and handle your sale with care. For one, this strong seller's market has started to show signs of softening, with fewer buyers and lower prices. This means sellers may need to reset their expectations. To help home sellers separate fact from fiction, here's a look at four myths you've probably heard about selling a home today, and why they might not be true for you. Plus, we've got some tips to adjust your strategies for the realities of today's market so you can up the odds that your home actually does become the next success story on the block.

From our team to your family, we want to wish you a happy holiday season. Happy holidays to you! The holiday season has officially arrived. We hope you enjoy this wonderful time of year and make some fantastic memories. We wanted to take a moment to thank you for your continued support. We love helping people make their real estate dreams come true, so thank you for working with us and supporting our business. This may be a busy time of year, but we are always here to help you and answer any questions you may have. Give us a call or reply to this email; we'd love to help you.  In case we don't hear from you until 2022, have a happy New Year!

Welcome to our November 2021 market update! Today we're taking a look at residential activity in your area during August. The number of active listings was down 37%  year over year, and down 9%  over the previous month.

The latest numbers are a positive sign for our Charleston market. Welcome to your July 2021 market update! Let's take a look at the latest residential activity in Charleston. As of the recording of this video, the number of active listings has decreased 46% compared to the previous year, but it's remained unchanged compared to the previous month. This smaller inventory means that buyers who waited to buy may have a smaller selection to choose from. The median listing price stands at just over $415,000.  Compared to last year, the average days of units spent on the market before getting sold has dropped 56%. This decrease signals a positive trend in the local inventory turnover rate. The median sales price, meanwhile, stands at $342,000. The number of units sold has decreased 1% year over year but increased 5% month over month. This upward sales trend indicates positive momentum.  If you have questions about these numbers or there is anything we can help you with, don't hesitate to call or email us. We'd love to help you.

Here are CMG's two new, unique programs that help first-time homebuyers. I have some very exciting news to share with all the homebuyers out there. Matt from CMG and I are willing to match a portion of your down payment to make your first home purchase much easier.  Investopedia just ranked CMG as the best first-time homebuyer mortgage lender out there and they have two unique programs to help get you into your first home. One is the Home-Funded program that allows you to crowdsource a down payment. We will then match up to $7,500 of what you raise.  The other program is the Borrow Smart program, which gives you up to $1,500 for down-payment assistance and closing costs if you meet the income restrictions for the area.  Reach out to Matt and me today so we can help you start the process and talk more about these programs. If you have any questions at all, don't hesitate to reach out via phone or email.

Moving can be exciting, and it can also be scary. It can be smooth sailing or so wrought with silly (or serious) issues that your cat peeing in the box of towels because you haven't unpacked his cat dish yet sends you into the kind of rolling-on-the-ground, slapping-your-leg, crying-big-fat-tears laughter that makes your family wonder if you need medical intervention. And that's just the beginning of the adventure. In the first year in a new home, you'll likely experience the full spectrum of human emotions, sometimes in the span of a few minutes. And while you can't know everything that's going to happen, you can prepare yourself for some of the inevitabilities, of both the good and not-so-good variety. Click the video above to know more about it.

Because of the bravery and sacrifices of veterans and active military, the rest of the country's civilians can live the American dream in safety. As one tangible way to say “thank you for your service,” current and former members of the military have access to Veterans Affairs home loans. These unique mortgage options allow veterans and those still serving to own a piece of the American dream by potentially qualifying for homes they might have thought were out of reach. Wondering what some of the benefits of a VA loan might be? Click the link above to know more about it.

Here are the four main reasons homes don’t sell in our market. Ever wonder why some homes sell and others don't? No fairy dust exists that can turn a loser home into a palace. If there was such a thing, sprinkling it in your home would make a big mess, and that's a big no-no if you want it to sell. Getting your home sold isn't hard if you stick to the basics, but if it has one, some, or all of the problems we'll talk about in today's video, it might sit on the market for quite a while.  Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch it in its entirety, or use these timestamps to browse specific points at your leisure: 0:33—Reason No. 1: It's not marketed correctly 1:20—Reason No. 2: It's not in good condition and doesn't have good showability   2:38—Reason No. 3: It needs updates or is too cluttered (i.e., it's ugly) 4:18—Reason No. 4: It's mispriced  5:45—Other issues that hold home sellers back   7:53—The solution to a quick and profitable sale 8:24—Wrapping things up As always, if you have questions about this or any real estate topic, don't hesitate to reach out to us. We're happy to help.

Here’s how we can get you offers on your home with our website. We know that selling a home right now can be very uncertain. With the Dave Friedman Team, you can get an offer on your property safely, instantly, and with no showings.  Go to soldwithdave.com, tell us about your home, and get a great offer.  Request your free purchase offer today.  If you have any real estate-related questions for us, don’t hesitate to reach out via phone or email. We would love to hear from you.

Here’s a quick overview of our current real estate market’s numbers. Let’s take a look at residential activity in the Charleston market right now: The number of active listings decreased 62% from a year ago but hasn’t seen a significant change since April. This smaller inventory means that buyers who waited to buy will have less to choose from now.  The median listing price was just over $425,000, and the median sale price is $325,000. Compared to last year, the average days spent on the market has dropped by 43%. This lower number of days signals a positive trend in the local inventory turnover rate.  The number of units sold rose 31% year over year and declined 5% since April. Higher year-over-year figures indicate that more buyers are finding what they’re looking for in our real estate market. If you’d like more information or assistance, please call or email us. We know the market, and we’re here to help you.

Today I’m sharing why some homes don’t sell and how you can remedy that. Do you ever wonder why some homes sell and others don’t? Getting your home sold isn’t difficult if you stick to the basics. However, if there are issues, your home may sit on the market unsellable for a long time. Today I’m discussing the reasons homes don’t sell and what you can do to ensure yours isn’t one of them. Feel free to watch the full message above, or use these timestamps that will direct you to various points in the video. 0:00— Introduction to today’s topic 0:30— Marketing your home 1:25— Ensure your home is in excellent condition and showable 2:35— Make sure your home appeals to the masses 4:00— We have options that don’t require showings or repairs, and you can choose the closing date 4:55— The No. 1 reason a home doesn’t sell 6:25— Sometimes sellers just don’t want to cooperate 8:20— Wrapping up today’s topic If you have any questions or need anything real estate-related, don’t hesitate to give us a call. We would love to help you.

Here’s how we can help you sell your home safely and simply. We know that selling a home right now can be very uncertain. On the Dave Friedman team, however, you can get an offer on your home safely and instantly with no showings. Just head on over to soldwithdave.com, tell us about your home, and get a great offer. Request your free purchase offer today.

The Carolina Youth Development Center is a vital resource for families.   Today I’m joined by Keri Scougale from the Carolina Youth Development Center to talk about the impacts that they’re having on the community. All of the events we put on for our clients, be it the pumpkin pie giveaway or our annual baseball game, have a goal of contributing $10 to the CYDC for each person who participates. We typically contribute anywhere from $2,500 to $3,500.  “The CYDC makes sure that families in need have the essentials to provide a clean, happy, healthy home.” The Carolina Youth Development Center was founded over 230 years ago in 1790 as the Charleston Orphan House. Since then, the organization has grown based on the community needed, making sure to always serve children and family first. The contributions that our team and other organizations make to the CYDC make a huge difference in helping them provide services to families in the community. Every penny goes a long way in helping make it a more joyful place for the kids to live, for families to become stronger, and for our community to improve in general. Last Christmas, a single mother with two kids told Keri she only had one twin bed; her children were sleeping on the floor. The CYDC was able to provide extra beds for both children so that everyone in their family could sleep on their own. Certain things that many of us don’t think twice about are a struggle for some families, so it’s amazing that there’s an organization like the CYDC that can make sure that families in need have the essentials to provide a clean, happy, healthy home. We’re looking forward to contributing even more to the CYDC this year through our client events, so be sure to keep an eye out for our event announcements! If you have any questions for us, don’t hesitate to reach out. We’d love to hear from you.

Here are two programs that help buyers purchase a new home much easier.   I have some especially exciting news for all you homebuyers out there: Matt Mieras of CMG Financial Mortgage and I are willing to match a portion of your down payment to make your purchase much easier. Investopedia just ranked CMG as the No. 1 first-time homebuyer mortgage company in the U.S., and they have two unique programs.  First is the Home Funded Program that allows you to crowdsource your down payment. We’ll set up an account that’s sort of like a GoFundMe page, and we’ll match up to $750 per donation. We also have the Borrow Smart Program that will give you up to $1,500 for down payment assistance and closing costs if you meet the income restrictions in your area. These are both excellent first-time homebuyer programs. Reach out to Matt or me via phone or email so we can help you begin the home-buying process or if you want to learn more about our down payment matching offers. We would love to speak with you.

According to the latest numbers, home inventory continues to decrease in our Charleston real estate market. Here’s what we found.   The latest numbers for the Charleston real estate market are in. The number of active listings in February is down 22% from January; compared to the same time last year, the number decreased by a whopping 60%. Since there’s less inventory, buyers have fewer options to choose from during their home search.  The median listing price in February was around $391,000, while the median sales price was around $303,000. Homes also sold more quickly—compared to the same time last year, the average number of days that properties spent on the market decreased by 38%. This means homes are selling quite quickly. “Since there’s less inventory, buyers have fewer options to choose from during their home search.” Compared to February 2020, the number of units sold increased by 1%. There was no change in the number from January to February 2021, however. Since sales are holding steady, buyers may have more opportunities to negotiate prices and other terms. If you have any questions or would like more information, feel free to reach out to us. We look forward to hearing from you soon.

Here’s everything you need to know about Lennar Homes at Carolina Park.   A lot of people have been asking me about my favorite new construction neighborhoods. Today I brought on Tina Jones, a new home consultant at Lennar Homes, to give us more information about the Carolina Park neighborhood (which is one of my absolute favorites), as well as the benefits of buying a Lennar home. Lennar Homes has been building homes all over since 1954 and has often been rated No. 1 in the nation.  Follow along in the video above or else use the timestamps below to navigate our discussion at your leisure: 0:55—Why choose Lennar over another builder? 2:35—The range of homes offered at Carolina Park 3:45—What kinds of amenities are offered in the neighborhood? 4:55—Why people love the Carolina Park location 6:30—One key difference between resale and new construction homes 7:40— Price, square foot, and floor plan ranges for Lennar Homes 8:40—Wrapping up our discussion Carolina Park is a great community where you can find beautiful homes at great value. With over 20 floor plans, you’re bound to find what you need, and the amenities are second to none. If you’d like to contact Lennar with questions about their new construction homes, reach out to (843) 670-5512 or visit www.Lennar.com.  For any other real estate questions you have, feel free to contact us at the Dave Friedman Team. We hope to hear from you soon!

A faster, convenient way to sell your home without expensive upgrades.   Are you spending too much time fixing up your house before you sell? Well, I have great news: you can get competitive cash offers and selling options up front with 100% transparency in just one click! By using our iBuyer program, you get to pick the closing date, and you don’t have to deal with scheduling showings or making costly updates and repairs. Visit www.SoldWithDave.com for more details.

We’re giving away free Valentine’s chocolates to show our gratitude.     Our team would like to show our gratitude to you for supporting our business. We’re spreading the love by giving away free Valentine’s chocolates, so here’s your opportunity to reserve yours. Register here, and we’ll save you some chocolate. For every chocolate picked up, we’ll donate $10 to the Charleston Youth Development Center to support their efforts with local children in need.  Happy Valentine’s Day! If you have any questions about this event or concerning real estate, call or email us. We would love to help you.

Here’s a quick Q&A with Adam and Ben Copenhaver of CopeGrand Homes.   Today I’m joined by Adam and Ben Copenhaver, the founders of CopeGrand Homes right here in Charleston, for a quick interview to spotlight their custom home building company.  Q: What kind of builder would you describe yourselves to be? Ben: “That’s a great question. Probably one of a kind, or maybe actually two of a kind. We really try to separate ourselves from the rest of the industry and really be unique in the value source that we provide for our clients. So at the end of the day, we want to make sure that you know we’re very unique when it comes to ‘Ben and Adam, can you do this for us?’ or ‘Can the rest of your team provide us with this service or this product?’” “We really try to separate ourselves from the rest of the industry.” Adam: “We do custom homes and high-end renovations, right? That’s our business, right? But really, what is our business? It’s the people we work with. And so, what business are we in? What do we focus on? It really is about clients that we feel like we’re going to be best-suited to serve in their interest in high-end renovations and custom homes. And so that’s really probably the best answer to that, and now that we’ve got this robust team that surrounded us for the past number of years, those folks can also rely on having the most trusted partners in Charleston to be able to build their dream home or renovate their dream home, such as this one. So, that’s our business and that’s what we do.” Q: People want to see your work—what’s the best way to go about doing that, whether it’s renovations or new construction? Ben: “We have quite a few different ways that we can utilize that. So, it all depends if our clients are in town, if they want to come by, and we have so many different properties downtown to the coastlines. We have some great properties we can go and tour and show you, and they’re through different facets of construction, so someone might be doing a foundation stage, and some people might not want to see that, but for clients who are getting ready to see that, they might want to go out and visit that and see what it looks like.  But also if you’re outside of town, we also have our Instagram, we have Facebook…we also have our website that people can log on to, and the most important thing about that is—especially on our Instagram or Facebook—you’ll see Adam, myself, or other guys on our team that actually post videos. So a lot of times, we might have some really cool components that are coming up, a really particular neat install, and we’ll say, ‘Hey look, let’s show people how we’re going to do this, how we’re going to get it done, the key features that we use, and help educate not only our existing clients, but everybody else that’s out there on our social media.’ So quite a few different ways. We’re really happy to share any type of references that we have or referrals for people to contact and say, ‘Hey look, how was your experience with CopeGrand? What did you guys have to do? What was the overall appeal like?’ so they can give some really good feedback.” If you’d like to know more about CopeGrand homes or are interested in utilizing their services, feel free to visit their website or give them a call at (843) 735-2364. You’re also welcome to check out their Facebook and Instagram pages.  As always, if you have any real estate needs I can assist you with, don’t hesitate to call or email me anytime. I’d love to hear from you.   

Here are the latest statistics from our market as we start a new year.   The December 2020 numbers are in for our real estate market and I’m excited to share them with you today. The number of active listings is down 51% from December 2019 and 23% from November 2020. Compared to last year, the average days a home spends on the market before it sells is down by 45% and the median sale price was up to $295,000. The number of units sold also increased 9% year over year and 3% month over month.  If you have any questions for me about these numbers or about real estate in general, don’t hesitate to reach out via phone or email today. I look forward to hearing from you soon.

Here’s why Stonoview is an exceptional place to buy new construction homes.   Many people have been asking me lately about new construction and what my favorite neighborhoods are. There are plenty of excellent neighborhoods, but one that stands out (and where of our many of our clients have landed happily) is Stonoview. Debbie Jones joins me today because she’s the expert on the Lennar homes at Stonoview. If you haven’t been there, you need to visit because it’s a beautiful, waterfront community on the Stono River.  “Most of our clients who buy new construction purchase a Lennar house.” The neighborhood boasts great amenities and three different collections of homes, which means about 21 models to choose from—something for everyone. Most of our clients who buy new construction purchase a Lennar house because they’re such a fantastic builder.  Debbie and Marta are there seven days a week to give you more information or provide a model home tour. You can also visit their website, and type “Stonoview” into the search bar to get information, or make an appointment to go out and see these magnificent properties.  If you have questions about buying in the Stonoview area or concerning real estate in general, call or email us. We would love to help you.

Daniel was having issues selling his condo—until he reached out to us for help.   Daniel Branham, one of our recent home sellers, had quite a few issues with his condo sale. Most of them revolved around the HOA—he had a hard time getting them to do their part regarding the maintenance issues, and over time, his headache only got worse. The water leak turned into a mold problem, which was a health hazard. Needless to say, he was in a bind and needed a good Realtor. “We helped him tackle the maintenance issues in his condo and wound up getting him the best possible price relatively quickly.” He was just looking to relocate; he and his family had gotten tired of living in the area. He spoke to a couple of instant offer companies, but they offered him ridiculously low numbers. He knew he could do better. That’s when he did his research and found the Dave Friedman Team. The thought process was to try to sell Daniel’s home to a residential buyer in order to get him more money, but due to the problems with his condo, there were so many financing issues that it just wasn’t a reasonable option for him. Lynette, a member of the Dave Friedman Team, reached out to a couple of cash buyers and investors. We also helped him tackle the maintenance issues in his condo and wound up getting Daniel the best possible price relatively quickly.  We can do the same for you. If you’re looking to sell your home quickly and for top dollar, reach out to us on the Dave Friedman Team. We’d be glad to help.

It's been an amazing year for our team thanks to your continued support.   We just wanted to take a minute to wish you a happy New Year!  It’s hard to believe that 2020 has come to a close. Although it has been a wild and chaotic year for many of us, it has also been an amazing year for our team thanks to your continued support. The things we’ve accomplished this year, and in years past, wouldn’t be possible without you.  We so appreciate your business, referrals, and friendship, and we’re excited to see what lies ahead. The future is full of possibilities, and we hope you are as excited for this upcoming year as we are. Here’s to making 2021 our best year yet! If you are thinking of buying or selling a home this year, please don’t hesitate to reach out to us with any questions.  As always, we are here to help.  We look forward to seeing you in 2021!

Happy holidays to you! The holiday season has officially arrived. We hope you enjoy this wonderful time of year and make some fantastic memories. We wanted to take a moment to thank you for your continued support. We love helping people make their real estate dreams come true, so thank you for working with us and supporting our business. This may be a busy time of year, but we are always here to help you and answer any questions you may have. Give us a call or reply to this email and we’d love to help out. In case we don’t hear from you until 2021, have a happy New Year!

Here are several strategies to finding the best off-market properties.   Today I’ll tell you how to find off-market properties (e.g., short sales, foreclosures, and other distressed properties) that are very likely to sell in this crazy market. With inventory so low, my team and I find off-market properties for our buyers all the time, and these deals can offer a number of perks for buyers and investors. However, in many cases these properties aren’t marketed nor portrayed as a viable purchase option. Thus, buyers are always asking how to find them.  Watch the video above in its entirety to see all of our strategies for finding off-market strategies. For your convenience, I’ve provided timestamps so you can skip ahead to various sections: 0:44—How we’ve been able to help buyers by utilizing these strategies 2:02—Direct mail marketing 2:44—Online resources 3:16—Networking 3:36—Wholesalers 4:21—Public record  4:59—Real estate auctions 5:26—How we can go above and beyond in helping you choose a home 6:05—Wrapping things up As always, if you have questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d love to speak with you.

Here’s an overview of our Charleston market as we continue through fall.   I think we can all agree that “home” means more to us now than it ever has before. Some of us are working from home remotely, while others have kids who are home schooling virtually. In any case, we’ve all been forced to spend more time inside our houses, and they’ve become so much more important to us.  What does this mean for our Charleston real estate market? Buyer showing activity was high-paced in September, which is consistent with how it’s been ever since May. Except for when the school year started, there hasn’t been any significant downturn in buyer activity throughout 2020. The reason I mention this is that it’s a huge predictor of our market. When we see a lot of buyer activity, it means we’ll see a lot of home sales coming along. There was certainly a lot of COVID-related pent-up demand from March, April, and May that’s been let loose this part of the year, which is incredible to see because it means the market is healthy.  Now that homes have grown in importance and demand is high, the challenge lies with inventory. Year over year, inventory dropped 38% in September, yet buyers continue to be motivated by tremendously low interest rates and a strong desire for the certainty of ownership in an uncertain world. They’re making offers for homes the same day they’re listed, which is increasing home sales and decreasing inventory. As this scenario continues across the country, we’ll see upward pressure on home prices—they should rise anywhere from 5% to 8%. Another point of interest is the fact that the list-to-sold price ratio is 98.5%, which means sellers are just 1.5% off from getting their full list price. However, there’s a huge discrepancy between the active price per square foot ($208) and the closed price per square foot ($156). This doesn’t mean people are negotiating from $208 all the way down to $156; it just means there are a lot of overpriced listings.  “Buyers continue to be motivated by tremendously low interest rates and a strong desire for the certainty of ownership in an uncertain world.” The properties that are actually selling are the ones that are priced correctly (i.e., closer to the $156 mark). Many sellers think they can list their home for any price they want, but the truth is that you still need to price a property correctly to sell it for top dollar.  I’ve mentioned this before, but many experts forecast home prices to rise between 3% and 4% in the next 12 months in markets where supply is low and demand is high. Some believe they may appreciate as high as 8%. As we move into 2021, I believe we’ll see adjustments in our local market. Interest rates will stay low over the next 12 months, but we’ll have to keep track of demand to understand how many homes are being listed and sold and how that’s affecting supply. Remember, interest rates are driving people to buy or invest in real estate, so if interest rates change, that will change the entire dynamic of the market.  These are the developments to keep an eye on throughout the remainder of 2020 and into early 2021. If you’re thinking of putting your home on the market, give my team and me a call today and we’ll get to work on finding the perfect buyer for you. If you’re thinking of buying, reach out to us as well, and we’ll find a home to suit your needs. We look forward to hearing from you.

Here’s how we can help bring certainty to home sellers in today’s climate.   We know that selling a home right now can be very uncertain. With the Dave Friedman team, you can get an offer safely, instantly, and with absolutely no showings. Go to soldwithdave.com, tell us about your home, and we’ll get you a great offer. Request your free purchase offer today.  If you have any real estate questions for us, don’t hesitate to reach out via phone or email. We look forward to hearing from you.

We have a new way to sell your home easily and quickly. Here’s the info.   There’s a brand-new way to get your home sold: Go to www.soldwithdave.com, tell us about your house by sharing its number of bedrooms, bathrooms, square footage, key features, etc., and we’ll send you a stellar purchase offer. Or, if that’s not your style, we can list your property with tons of free services— handyman fixes, house cleaning, yard work, and more. To prepare your home for showings, we can provide renovation money in advance that you’ll pay back later. If you have any questions about this offer or real estate in general, call or email us. We would love to speak with you.

Will the Charleston market turn around this year given the pandemic?   I know that many of you are wondering whether the Charleston market will turn around this year considering the state of the economy due to the pandemic. Clearly, the economy went on pause with the initial outbreak. I don’t think we’ve ever seen anything like this before. Major financial institutions like Goldman Sachs, JP Morgan, Morgan Stanley, and others are predicting a rapid V-type recovery of our economy, where the economy bounces back up just as quickly as it declined. Historic analysis shows that pandemics are usually V-shaped, and typically recover from any damage quickly enough to avoid long-term effects to home prices. Some cutting-edge analysis done by our information management team has shown that the current slowdown has played out very similarly to that so far. “Right now, buyer demand is strong, and people are just waiting for more inventory to become available.” The Harvard Business Review is saying that it’s worth looking back at history to place the potential impact of COVID-19. In fact, V-shapes monopolize the empirical landscape of prior shocks, including epidemics such as SARS, the 1968 H3N2 flu, the 1958 H2N2 flu, and the 1916 Spanish flu. Everybody has been asking us if we’re going into a recession. My response is that we might be, but that doesn’t necessarily mean that we’re heading into a housing crisis. According to Freddie Mac, Fannie Mae, and their home pricing index, with the exception of two recessions—the Great Recession of 2008 and the Gulf War Recession of 1990-91—no other recession has impacted the U.S. housing market. This information has been collected from 1975 up to the current year. Let’s take a look back at the last five economic downturns. We’ve only had housing prices decline twice—once in 1991 when home prices declined by 1.9%, and in 2008, there was a three-year period of decline where the highest rate was 19.7%. So what does that mean you should do right now? Well, you should have a market analysis completed for you to keep you updated with the data and information you need to make a great decision. You also need to prepare your home, get maximum exposure, and attract buyers to it. Try to have a solid negotiation strategy at the ready. It’s just as critical to work with a team who can support you in all of that. Here at the Dave Friedman Team, our No. 1 goal is your safety, and we always put your interests first throughout the buying or selling process. We’ve had to change about 95% of our process to continue to help buyers and sellers stay successful and safe during this time. The process starts by scheduling a virtual consultation to meet with you and talk about your needs and develop a customized marketing plan. We’ll also set up a virtual staging appointment with our professional stager to give you all of the advice that you need to prepare your home for sale. Even more, we’ll give you a list of things that are (and aren’t) worth spending your money on during that pursuit.  Technology has become a huge part of the process as well. We’ll leverage our high-definition photography, virtual tours, and 3D imagery to put your home at the top of 400 websites. We’ll use all kinds of software that allow us to identify the ideal buyers for your home as well as their Realtors. Right now, buyer demand is strong, and people are waiting for more inventory to become available. The bottom line is that if you’re thinking about putting your home on the market, let’s connect today. There’s a good chance that an eager buyer is looking for a home just like yours. Give me a call or send an email and let’s discuss what it will take for you to find success.

Don’t worry; you can safely buy a home during the pandemic. Here’s how.   Because of the pandemic we’re currently experiencing, our new market may require some adjustments in your approach to your transactions. Here are some tips to help you adjust: 1. Consider how long you plan to stay in your new home. If it’s less than two years, you should definitely look for a property where you can build value in it right off the bat. 2. Understand how much money you can spend. This isn’t a time to spend beyond your means and hope for the best. It’s likely that prices will still appreciate 4% annually, but that doesn’t mean you should overspend. Prices historically appreciate by 3% to 5%. 3. Find a place that meets your needs. Unless you’re getting your dream home, you may want to spend for the neighborhood and improve the home over time. 4. Find the right neighborhood for you. Look for an area with a good school district, as homes in those neighborhoods tend to hold their value better in a declining market and rise faster when the local market is strong, just like it is right now. 5. Make sure that you’re financing the terms that you can afford right now, not for the future. 6. Start the process as early as possible. I’d recommend working with your lender early, even before the offer is accepted. The home buying process is taking a bit longer than usual, and you could end up waiting around if you don’t get a jump start. 7. Ask for video and virtual tours. Many companies have canceled open houses and tours to prevent the spread of germs. Thankfully, you don’t have to rely on online pictures; you can take a digital tour of the home, which I can provide for you. I highly discourage people from just window shopping for homes.  8. Find a real estate agent who takes the coronavirus seriously. We at the Dave Friedman Team are willing to go above and beyond to help you choose the right home during this unique time. We’ve developed extreme measures to keep the experience safe for you. We use showing kits that contain masks, sanitizers, booties, and gloves for people to use during the showing. Before and after a showing, we clean and disinfect surfaces that people are likely to contact. We also ask the seller to leave the lights on and open all the cabinet/closet doors for us so that you don’t have to touch them to see inside them. The Dave Friedman Team has found a system that’s safe and effective for our clients. It all starts with doing a ton of research for the clients ahead of time, looking for distressed deals, off-market deals, and homes that fit their needs. We’ll email the client anywhere from four to eight homes that match their criteria. “If you’re buying a home while the pandemic rages, you can expect technology to play a huge role in the process.” From there, we look through all the photos together and otherwise consult with you about your home search. We also do a lot of preliminary work, such as looking at flood zones, insurance zones, zoning issues, potential title issues, surveys, HOA restrictions, and more. You name it, and we’ll look into it for you. We also reach out to the sellers on your narrowed-down list of homes and have them shoot another video for you so we can take a better look at the property together. That way, you’ll get a very detailed tour of the home. Next, our team will personally walk through the property for you, and we’ll do a video chat with you, allowing us to walk you through the home and answer any question you have as we look around. Hopefully, we’ll be able to narrow your options down to a favorite or two, and if you feel comfortable, we can show you the home in person.  Even with our adjusted home buying process, you’ll still be able to coordinate the home inspection and appraisal, obtain contractor estimates if necessary, conduct title search, shop insurance rates, and so on to make sure you close safely—you can even do that virtually. The bottom line is this: If you’re buying a home while the pandemic rages, you can expect technology to play a huge role in the process. If you have any questions about our home buying process amid the pandemic, don’t hesitate to reach out to us. We’d love to hear from you.

Here’s how Charleston home sellers can sell their properties safely today.   In the Charleston area, the market is still in favor of sellers due to the lower supply of available homes versus the higher buyer demand. Real estate transactions are moving fast despite the pandemic, and though the process may look a little different, there’s never been a better time to sell. Twice as many homes are going under contract right now as coming new to the market! You may be thinking, “Sure, that’s all dandy, but is selling a home now even a safe thing to do?” Thankfully (and honestly), the answer is yes, and sellers are leveraging our technology and industry expertise to sell their properties quickly and for top dollar with as little risk as possible.  Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to skip to topics that interest you most:  0:41 — How the real estate industry has been regulated since the pandemic  1:13 — Take your listings up a notch by offering virtual tours, drone photography, and Matterport  1:39 — Make sure your listing’s online reach is maximized and your home is staged by pros 2:21 — Anticipating buyers’ questions and informing them before they view in person  3:20 — Allow showings on a case-by-case basis and follow safety protocols 4:22 — Handling appraisals and inspections  5:13 — Remote closings may be possible  6:13 — Wrapping up today’s topic  We at the Dave Friedman Team have tools and experience needed to help you capitalize on this seller’s market in the safest way possible. If you have further questions about the process or what’s going in the housing market day to day, please feel free to reach out to us via phone or email. We look forward to hearing from you!

Does the 'new normal' mean new opportunities?   Let’s face it: This has been a challenging time for most of us, both personally and professionally. COVID-19 has become a global subject, and one that we need to take seriously in our daily lives. Markets have been fluctuating due to the uncertainty, and that includes real estate. This is what has been referred to as the ‘new normal.’ To help explain the situation, my team and I have gathered some important data.  “The bottom line is, the Charleston market is on fire.” First, in the history of the market, we’ve only seen two weeks where over 450 residential properties went under contract: One week in 2017 saw 452, sales and one week in 2018 saw 458. In the last four weeks, we’ve exceeded that mark each time. The market keeps setting new records, and it’s absolutely unbelievable.  The average price per square foot, meanwhile, increased 7% from June 2019 to June 2020, which means we’re still in a healthy market. We anticipate a 3% to 5% appreciation rate throughout the rest of 2020.  For sellers, the average list-to-sale-price has increased year over year from 98% to 99.5%. There are more buyers entering the market than there are sellers interested in selling, and it’s guiding us further into a seller’s market. Furthermore, the median days on market has decreased from 19 to 13 days. If you list your home now, there’s a good chance that it will sell quickly and for top dollar.  Despite the pandemic, buyers see now as a great time to invest in new properties. Most would-be sellers, on the other hand, prefer not to list at the moment, which is creating a huge inventory shortage.  The bottom line is, the Charleston market is on fire. Inventory has never been lower, and we’ve never seen so many homes sell. I’m even planning on selling my own home, so take advantage of these conditions.  If you’re ready to list your home or have any questions about our market, don’t hesitate to reach out to me. I look forward to hearing from you, and I hope you stay safe out there!  

Before we get too far into 2020, we’re taking a moment to recap 2019. Thank you so much to all our customers and clients who helped us throughout 2019—because of you, we were able to get over 200 five-star reviews and we sold more homes than ever.  Haley and I decided a while back to dedicate a percentage of our revenue to charity; last year, we donated over $18,000 to different community organizations! We thought that it was a worthwhile plan to target the issue of homelessness in the Charleston area, especially where children and pets are involved. We’re also proud of our statistics when it comes to helping our clients. In 2019 (really, over the past 36 months), our average days on market for sellers was only 10 days, which means we sold homes three times faster than the typical Realtor. Not only that, on average, our sellers received 100% of their asking prices. Most Realtors in the market will overprice your home and fail to negotiate strongly enough with your purchase price. “Last year, we were able to donate over $18,000 to different community organizations!”  A quicker sale time means that you won’t have to have your home on the market as long, you won’t have to worry about cleaning up for showings, and you’ll have fewer mortgage payments—all so you can move on with your goals faster. Thanks again for making 2019 such a great year. If you ever have any real estate needs, don’t hesitate to reach out to us. We’re more than happy to have a conversation so we can help you reach your goals.  

What’s the latest news from our real estate market? As we make our way through fall, interest rates are at a three-year low. As you may remember, in November 2018, they reached an eight-year high, so they’ve been dropping considerably these past several months. This is great news for buyers, and many of them are taking advantage of their newfound buying power by selling and moving up into a bigger home. At the moment, it’s possible to keep the same mortgage payment while buying a home that’s 20% more expensive than you previously would’ve been able to afford.  In short, it’s a great time to move up. Many people assume the fourth quarter is a bad time to put a home on the market, but that’s not true—it’s an ideal time to list your home, specifically because of that assumption. If you list now, you won’t have to face much competition from other sellers, and the buyers who are out and about are more serious about buying. Additionally, many people think the market has slowed down, but it actually hasn’t. The number of home showings did slow down for a time due to Hurricane Dorian, but our team is actually selling more homes than we were last year. Those homes are also averaging a higher sales price. “Many people think the market has slowed down, but it actually hasn’t.” Lastly, the holiday season is here, which means our annual Thanksgiving pie giveaway is happening once again. This is our way of thanking you for helping our team get to where we are, so don’t forget to RSVP for your free pie at DavesEvents.org. If you have any questions about these topics or you have any other real estate needs I can take care of, don’t hesitate to reach out to me. I’d love to help you.    

Before I begin today’s topic, I want to alert you to our annual Pumpkin Giveaway event. Every year, we give out free pumpkins to those who RSVP. To receive your pumpkin, RSVP here before October 13, and you can pick yours up from our office anytime between October 21-23. This is just our way of saying thanks for supporting our business and to hopefully help you have a better Halloween. “To help our clients, we build safeguards into the contract to make sure we’re setting up our sellers for success.” Now, back to our topic: home sale contingencies. A home sale contingency means that a buyer’s offer to purchase a home is contingent on them being able to sell their own home. We’ve had a lot of sellers lately asking us whether they should accept a home sale contingency from a buyer. We recommend that our clients approach that conversation in a specific way that is geared around them winning. It’s great to be able to get a buyer who wants to purchase your home, however, if there’s a home sale contingency on the offer, that could get in the way of the closing. To help our clients, we build safeguards into the contract to make sure we’re setting up our sellers for success. First, we write a clause into the contract that says that we’ll allow them to do a home sale contingency—however, they only have two weeks to get their current home under contract. We ensure that they’ll sell within that time period by coming up with an agreed-upon list price for the buyer’s current home. We’ll have them get an appraisal done, and sometimes I’ll personally do a lot of research to figure out what price they’ll need in order to guarantee that they’ll sell within those two weeks. Typically, we can figure out a price that will help them sell their home within just a couple of days. We also write into the contract that the contingent buyer must also close on their current home’s sale within 45 days. That means they have two weeks to get their home under contract and another 30 days to get both transactions closed (their current home sale, as well as the one with us). Finally, we stipulate in the contract that the buyer cannot also accept a contingent contract when they’re selling their current home. Creating a daisy-chain of home sale contingency contracts just adds a lot of unnecessary risks.  Sometimes we also add a non-refundable deposit into the contract. We have a lot of control over the transaction that we exercise to guarantee that our sellers are successful. When we get buyers to agree to those terms, we’re able to help our clients achieve their goals. If you have any questions about today’s topic, don’t hesitate to reach out to me. I’d love to hear from you.   

Our latest customer and community appreciation event is coming up this Wednesday, August 21, and you’re cordially invited to join us.  We’ll be at Joe Riley Park to watch the Riverdogs play some baseball. Game time is 7:05 p.m., and we’ll also be hosting a fundraiser dedicated to MUSC Burned Children’s Fund. Our goal is to raise $23,000! “For every ticket we giveaway, we’ll donate $5 to the MUSC Burned Children’s Fund.” Tickets are on us, and all you have to do to score yours is RSVP at DavesEvents.org. For every ticket we give away, we’ll donate $5 to the MUSC Burned Children’s Fund. This money is used to help install smoke detectors in homes that need them, and we’ve heard back from two families who said this initiative saved their lives. Additionally, this money helps send kids with burn injuries to Camp Can Do for a week of fun and friendship building.  If you have any questions about this event, don’t hesitate to give me a call or send me an email. I hope to see you there.    

I’m very excited to once again invite you to our annual community appreciation event. This year, join us on Wednesday, August 21, at 7:05 p.m. for a Riverdogs game at Joe Riley Park. We always team up with firefighter appreciation night to help them raise money for the MUSC Burned Children’s Fund. This year’s goal is to raise $23,000 through the event. It’s the biggest fundraiser event of the year for this organization and we would love your support.  “Tickets to the ballgame are on us.” One of the things that our donations does is send some of these children to Camp Can Do, a great place for them to get away and meet other kids who have also been burned. About half of the money is used to buy smoke detectors for homes that don’t have/can’t afford them. We’ve actually heard from a few families who were able to make it out because they had these detectors in a fire. Tickets to the ballgame are on us. For everyone who gets a ticket, I’ll also donate $5 to the fund through your registration at davesevents.org. Just RSVP there and we’ll have your tickets ready. Bring your family, bring your friends, bring your entire little league roster. We’d love to see you all there. If you have any questions for me in the meantime, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.   

The rehab loan is an amazing product because it can help you to purchase a home with a minimal down payment and it finances the construction aspect of your renovation projects. With this loan, you don’t need to finance the purchase and the renovation separately. With that in mind, today I brought in Matt Mieras from CMG Financial to talk about the different loan products that are currently available in the market.  There are two common types of renovation loan programs: conventional renovation financing and FHA financing. Both programs have what is called streamline renovation financing, which covers minimal repair work that costs $35,000 or less. Suppose, for example, that you wanted to buy a house and then update the kitchen and bathrooms—both of those things are acceptable under the terms of that loan. “These are genuinely fantastic programs.” They also have a full renovation loan program for projects that cost $35,000 or more. This could include mother-in-law suites, pool installation, foundation repairs, roof replacement, and so on. That said, the down payment requirements do vary based on the loan program. The FHA renovation financing requires 3.5%, where the conventional loan requires 5%, so they’re both very affordable. These programs can serve different purposes. You could use it to buy a house, renovate it, and make it your own custom property, or if you already live there, you could use it to upgrade some of the more outdated features. These are genuinely fantastic programs. If you’d like more information on renovation loans or if you’re looking for a good investment in general, feel free to reach out to me. We can give you more details about what good opportunities are out there in the market that would allow you to take advantage of this loan product.   

Solar panels have become a hot-button issue for homeowners in the real estate world. Are they a good investment? Will they add value to your home when the time comes to sell it? Today I’m joined by Matt Mieras of CMG Financial to answer these questions from a lender’s perspective.   First, there are two main types of financing you see in our market: FHA financing and conventional financing. Additionally, there are two types of solar panel purchase agreements: You either buy them outright or lease them.  The challenge when it comes to leasing them, according to Matt, is that another company has security on your property. When you buy a home using financing, the bank or your lending company owns the home too, so if you stop paying your lease on your solar panels, it gives the creditor the ability to foreclose on the home. If you’re able to purchase the panels outright, that’s a different story, but when it comes to leasing them, it’s an exception-based system.  “If you’re thinking of installing solar panels on your home, do your due diligence, interview several companies, and read the fine print.” From a Realtor’s perspective, having solar panels on your home will narrow down your buyer pool. Not every buyer wants solar panels attached to their new home, and assuming someone else’s solar panel lease comes with a lot of unknowns.  When purchasing a home with solar panels, unless they’re completely bought off, the lender won’t finance the panels into the home purchase. When qualifying someone, they have to factor that lease payment into their debt-to-income ratio. So, if you’re thinking of installing solar panels on your home, do your due diligence, interview several companies, and read the fine print. Also, make sure you know how long you’re going to stay in your home before you sell.  If you have any more questions for Matt, you can email him at MMieras@cmgfi.com or give him a call at (843) 670-5512.  As always, if you have any other real estate questions for me, feel free to give me a call or shoot me an email. I’d love to speak with you.    

Before we begin today’s market update, mark your calendar! Our annual client appreciation event is coming up on August 21, and you’re invited. At this event, we’ll also be fundraising for the Burned Children’s Fund at MUSC.  Now, onto the latest news in our market. 2019 looks like it will be an excellent year, but not quite as good as 2017 and 2018. This isn’t necessarily a bad thing—stabilization in the market gives us long-term consistent growth instead of massive ups and downs. We may not sell as many homes this year as we did in the recent past, but appreciation is at about 4.8% on average.  “2019 looks like it will be an excellent year, but not quite as good as 2017 and 2018.” Depending on who you’re listening to, you’ll hear all kinds of different stories about our 2019 market. Be careful with what you believe; some Realtors are doing poorly, so they’ve chosen to project that the market is also poor.  For our team, homes only spend about 11 days on the market before they’re under contract. In our market, homes take about 61 days to sell on average, so we’re selling them six times faster. We’ve also kept a 100% sale-to-list price ratio, meaning sellers have gotten all of their asking price without having to accept less. Most brokerages out there haven’t grown at all this year, but we’ve grown by over 40%.  If you have any questions or would like more information, feel free to reach out to me. I look forward to hearing from you soon. 

We at the Friedman Team care about keeping you in the loop, so we’ve got a few important updates to share with you today. First, Pet Fest is just around the corner, and we hope to see you there. This great event will take place at Palmetto Island County Park on Saturday, March 30, from 11 a.m. to 4 p.m. Pet lovers of all kinds are sure to enjoy this incredible fundraising opportunity.  We would also like to let you know about an upcoming charity golf tournament at Wild Dunes on April 11. Proceeds from the tournament will go toward the Gary Sinise Foundation, an incredible organization which serves our nation’s heroes “by honoring our defenders, veterans, first responders, their families, and those in need.”  “Our market may be changing, but these developments won’t prohibit savvy buyers and sellers from reaching their goals.” Now that we’ve touched on these two fantastic events, let’s quickly review the recent rise in loan limits. The FHA conforming loan limit recently rose to $388,700, and the conventional loan limit recently rose to $484,300. This is great news for buyers interested in expanding their horizons to a broader range of homes. This rise means buyers can now afford homes at higher price points, while still submitting a relatively low down payment.  Though it’s true that 2019’s first quarter won’t finish as strongly as the market did at this time last year, conditions remain relatively positive. Beyond that, our team has the skills, knowledge, and resources necessary to help clients succeed regardless of current market conditions. We’ve been able to help sellers close quickly and for 100% of their asking price these last couple of years, even though many sellers nationwide have been struggling to strike a deal at all.  Overall, there’s no reason to panic over the recent changes in real estate. Our market may be changing, but these developments won’t prohibit savvy buyers and sellers from reaching their goals.  If you have any other questions, would like more information, or are curious about how we can help you buy or sell in 2019, feel free to give us a call or send us an email. We look forward to hearing from you soon.  

Today’s message will be twofold. First, we would like to remind you of our upcoming second annual pumpkin giveaway, and second, we’d like to encourage you to help support Hurricane Florence relief efforts. In the wake of the recent tropical storm, we could all use a bit of levity—so let’s begin with the lighter of these two subjects: Our pumpkin giveaway. This event will take place on Saturday, October 14 from 10 a.m. to 2 p.m. at Riverfront Park in Mount Pleasant, and we hope to see you there. We gave away over 1,000 pumpkins last year, and we have just as many to offer this year. To reserve your place, and your chance to snag one of these pumpkins, go to http://www.davesevents.org/. The giveaway will be first come first serve, so don’t delay. Of course, there will be a lot of other things to enjoy at the event, as well. There will be a professional photographer offering family photos, a number of food trucks, and a face painter for the kids. Best of all, our team will also be using this event as an opportunity to give back. We’ve partnered once again with Lifeline, a great organization that places foster children into homes, to raise money for that cause. We raised more than $11,000 at last year’s event, and we hope to raise at least that much again this time. Overall, this is going to be a great event. You won’t want to miss it. Next, let’s move on to the more essential of today’s two topics: The relief efforts for Hurricane Florence. We in Charleston are very fortunate that the storm didn’t hit us, but many other areas along the Carolina Coastline were impacted. “We in Charleston are very fortunate that the storm didn’t hit us, but many other areas along the Carolina Coastline were impacted.” Still, many of us stocked up on toiletries, nonperishable food items, and other essentials in anticipation of the storm. Now that the potential for danger has passed, though, many are wondering what to do with these things. Our team would like to recommend that instead of leaving them to sit in storage, you donate them to those who were affected by the storm. We’re taking donations at our office (located at 496 Bramson Court, Mount Pleasant), so we encourage you and anyone you know who has items to spare to join us in making a difference for those in need. We’re accepting over-the-counter medicine, canned food, bottled water, pet food, paper goods, construction tools, toiletries, and other such essential items. Our hope is that, after collecting these items, we will be able to take an 18-wheeler full of them up to North Carolina where we will distribute the goods. If you’re able to contribute, we would highly appreciate your help. If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

Today I want to cover two topics: First, a recap of a special event we recently participated in, and second, an update on the market. We just wrapped up our fifth annual community appreciation event and fundraiser for the MUSC Burned Children’s Fund, and it was a blast. A ton of people came out to support the cause, and we met our goal of personally donating $5,000 to the fundraiser, and we raised a total of $22,000 for the 22nd anniversary of the MUSC Burned Children’s Fund and for Camp “Can Do.” We had an opportunity to go down to the camp and visit the kids there. It turned out to be a life-changing event for me. We learned what kind of an impact this camp has had on the kids and how it has shaped and changed their lives. To learn more about this organization and the awesome cause they serve, click here. Now, on to our market update. The market has been great this year. As a whole, the market has appreciated about 6%, which is a little bit higher than what you’d typically see; usually we see gains of around 3% to 4%. There are some areas that have reached double digits, and much of Charleston is in the high single digits—around 8% or 9%. This increase in the median sales price is likely due to the amount of new construction in the market. Other areas like Goose Creek and Summerville have seen value appreciation of around 5% to 6%. “Those with realistic expectations of their home’s value are going under contract, while those who overestimate aren’t having as much success.” Overall, the market is healthy. Year over year, we haven’t seen any increase in sales; this is because we don’t have as much inventory on the market as we did last year. One thing I’ve noticed is that some sellers have the perception that their home is worth way more than it really is. If you look at active listings in the MLS, on average, they’re priced 11% higher per square foot than the homes that are actually selling. Those with realistic expectations of their home’s value are going under contract, while those who overestimate aren’t having as much success. Those sellers might feel like there’s a market bubble that has burst, but really, they’re just forced to be more realistic about their home’s value. If you have any questions about the market or our fundraising events, please reach out to me. I hope to hear from you soon.  

Our team’s “Coming Soon” program, which we do for our sellers, is absolutely phenomenal. In the last 12 months, we have sold every single listing we’ve taken on in just seven days, on average, and for 100% of the asking price. A lot of these sales can be attributed to our Coming Soon program. This program attracts buyers to your listing before we ever actually put it on the market. By the time we put it on the market, we inundate our sellers with showings. This results in multiple offers. One of the ways that we achieve these results is through extensive marketing. We post your home on over 400 different websites and advertise that it is “Coming Soon.” Since there is such an inventory shortage, the anticipation we build around your listing gets buyers excited and allows your home to gain traction. And when your listing does hit the market, we end up scheduling many different appointments for showings from the very first day that it’s active. In addition to that, I have a massive database of buyers that are currently looking for homes. So, I go through every single one of those buyers and call them to let them know about your home. We also do a lot of social media marketing. Social media has a massive influence in today’s world. So if you want to get your listing in front of people, you have to do marketing on social media. “By the time we put it on the market, we inundate our sellers with a lot of showings which results in multiple offers.” Our client development team also helps by making phone calls. They call up and down the streets of your neighborhood to see if anyone wants to move. Some people may need a larger home but still want to stay in the same neighborhood, so we want to make sure they’re aware that your property will soon be available. Those people may even know someone who wants to move into the neighborhood as well. They provide us with referrals for us to contact. Finally, we advertise for a mega open house. For the very first few days that your home is on the market, we will do this and drive a ton of attention to it. Once your home is on the market and interested buyers see it, a sense of urgency and excitement builds. As a result, we often see multiple offers and we’re able to get our buyers under contract usually within seven days for 100% of the asking price. If you have any additional questions about our coming coon program or are interested in buying or selling, please feel free to contact me. I look forward to hearing from you soon.

Today I wanted to give you a quick market update for Charleston as well as a few great events that are going on around Charleston. A few recent events just occurred here in Charleston, including the James Beard Awards. Rodney Scott of Rodney Scott BBQ actually won Best Chef in the Southeast. I live right down the street from his restaurant and it’s fantastic. Additionally, FIG won the award for the best wine program in the country and The Charleston School of Business won an award for their MBA program. They were voted the top MBA program for post-graduates in the country as it related to post-graduation job placement. As far as some other things that are coming up, there is the 13th Annual Sweetgrass Festival, 2nd Sunday on King is back in town, and the Charleston Rum Fest and Charleston Beer Mile are also coming up soon. You can learn more about these and all the other events going on in the area by checking out this document.   “Real estate is still a great investment in our market and I don’t think we’re heading toward a bubble.” As far as real estate goes in the Charleston market, we are up 7.2% in terms of home value in the last year. The last two years, we averaged around a 4% increase, so this is a big jump. We’ve actually seen the same number of home sales this year as last, so the increasing prices are a result of low inventory. There are still a lot of buyers out there and a lot fewer homes for sale, and as you can see, this is forcing prices up. That’s not going to be sustainable in the long run, but does it mean we are in a housing bubble? Not in my opinion. I think we’ll continue to see great appreciation for at least two more years. After that, I don’t think we’ll see a dip. The research I’ve done has shown that we’ve only seen a massive decrease in home values since 1991 during the 2008 market crash. When markets shift normally, they tend to just flatten out for a few years as opposed to crashing and falling. Real estate is still a great investment in our market and it’s a great time to buy or sell a home right now. Our team is seeing record-breaking sales numbers and homebuyers are still going to be able to take advantage of the great appreciation we’ll see in the next few years. If you have any questions about buying or selling a home in Charleston or about anything else related to real estate, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.  

In addition to the latest news from our market, today I want to talk about a great workbook and planner written by Lars Hedenborg that can help you reach the goals you’ve set for yourself. Below, I’ve sectioned off the highlights from today’s video: 0:24 - What our market’s inventory crisis and rising interest rates mean for buyers and sellers.2:30 - Introducing the “Intensive Workshop” workbook.3:49 - Session 1: Putting your life first.4:32 - Questions what will help you understand your “why.”9:23 - Exercises to help you identify what you don’t want in your life and what you do want in your life.11:13 - Writing your purpose statement and your personal goals.12:09 - Switching over to “The Business Freedom Planner.”14:45 - The Business Freedom Planner’s five P’s: planning, priorities, projects, potential, and positive focus.15:15 - Bridging the gap between the results you’re committed to creating and the results you’ve produced in the past.19:14 - Organizing and scheduling your five P’s for the entire 13 weeks of your quarter. “This workbook and planner are a great way to stay on top of your goals.” If you’re interested in using this workbook and planner, just get in touch with me and I’ll send them to you. If you have any other questions, don’t hesitate to give me a call or send me an email. I’d be happy to help you.  

A lot of sellers have been asking how commission splits work in the real estate business. It’s actually pretty simple. On a 50% commission, for example, half goes to the buyer’s agent and half goes to the listing agent. Listing agents can use this money to attract buyers’ agents to your home. A listing agent’s commission is used in the marketing of the property. 93% of buyers last year found their homes on the internet and through other advertising, as opposed to through the recommendation of a buyer’s agent. This goes to show the importance of allocating funds to these marketing resources. “A portion of the listing agent’s commission is allocated to marketing resources.” A big portion of funds on the listing side also go to the brokerage and to the government. Whatever is leftover becomes income for the listing agent. If you list with my team and I bring you a buyer, myself, we will only charge you half of the commission fee since there was no buyer’s agent involved. As always, if you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Recently, I’ve noticed that a lot of people are curious as to whether working with a team is truly better than hiring an individual agent. These days, the truth is that most people undergoing a real estate transaction tend to utilize a team. This is a great option since a team costs the same as an individual agent but provides you with more services for your money. Hiring multiple professionals for the same price as you would pay for one simply makes more sense. Working with a team means you will have access to a higher level of communication, better marketing, and a wider base of expertise. I recently pulled a report from the multiple listing service to help illustrate this point. According to these statistics, the average days on market for a listing sold with a single agent was typically greater than 50. Also, listings sold with a single agent tend to sell for 5% less than list price. “Getting more service for the same price is always the obvious choice.” When you look at my team’s statistics for this year so far, it’s a very different story. With us, a home’s average days on market is five, and all of our listings sell for 100% of asking price. Think of it this way: if you needed surgery, would you rather trust a single surgeon working out of his car, or go to the hospital under the care of a professional team? Getting more service for the same price is always the obvious choice. Buying or selling a home is a huge life event—that’s why it’s critical to work with the right people. If you’re interested in working with us, have any other questions, or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

I want to say thank you so much for the wonderful year that we’ve had. We couldn’t have done it without you. As a token of our gratitude, we’re once again holding our Great Pie Giveaway. We’ve given away hundreds of pies each year for the last three years, with this year being our fourth giveaway. You should have received a postcard in the mail, so if you do want a pie, we’d like to encourage you to RSVP for yours by Thursday, November 16th, by emailing me or calling the number provided. We want to serve you and your family over the holidays the way that you’ve helped us over the year. “As a token of our gratitude, we’re once again holding our Great Pie Giveaway.” We’re going to order enough pies for everybody who wants one for their family. You can pick up your pie at our office in Mt. Pleasant on Monday, November 20th, from 9 a.m. to 3 p.m., or Tuesday, November 21st, from 1 p.m. to 5 p.m. Again, thank you so much for supporting us and our business. If there’s anything we can do for you, just let us know.