Month: March 2019

Series: SELLING – how much activity should I be getting? How long will it take?

March 22, 2019

A buyer passively considers a move for about 6 months. Then, actively shops on average 30-45 days for a home. What does this mean? You’ll get lots of looks from that 1st group asap but they’ll never set appointments. Then, you’ll get a lot of appointments in the first few days – these are the folks that have been looking 30-45 days. After that, they will trickle in only with about 1/30th to 1/45th of the same interest as you had those first few days.

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“Wow, I got lots of showings but no offers!” Possible reasons: You are the ‘early house’ on a 3 home tour. The best is usually the last shown.

“Wow, I had a lot of looks online, but no showings!” Read on my friend…….

  1. How long should property be on market? Anibal-Group-LLC-RealtyNetWorth-Marketing-Open-House-Signs_3_In-Yard_Open_ForSale_Website-2
    • You’re agent give you this info with the CMA report. It will differ based on season and how unique your property is. If you don’t give the agent a good amount of time to ‘develop’ the marketing, testing various approaches against each other, don’t expect their best in return.
  2. How many ‘looks’ should I get?
    • Once the listing goes out to the public, its not just looks, but ‘lingers’ that you want. The back end stats will give your marketing expert details not seen out front. The magazine sites that purchase listing databases…they’ll show so some of this, but you won’t know who looked, motive, where they initially saw the offering, or why they are looking.
  3. When should I be getting showings?
    • Online looks are a type of showing. Based on where they see your property and how/ where (online) they came to ‘look deeper’, they may or may not become physical showings. If you have a good number of looks from active marketing efforts – not just ‘lookey looks’ – you should have in person shows w/in 10% of the total marketing time being allowed (see #1).
  4. When should I get offers?
    • After 7-10 showings or 25% of total marketing time being allowed.
  5. What to do to expedite the process?
    • The more a listing MLS data  is changed, the more you’ll look desperate. Carefully consider whether quick sell or highest price is of more importance – from the outset – lest those ‘days on market’ and ‘price change’ details start to scream out. Bad: rushing to market w/o preparing the staging looks all over the inside/ decorative highlights on on the porches/ decks, etc outside/ and honestly setting a price … that you would pay to buy it back from the lookers that won’t place an offer.
  6. When to reassess:
    • Depending on how highest goal: quick sell vs high price, usually reassessments are made at the intervals noted below:
      • If no showings: w/in 10% of the total marketing time being allowed. (eg: 180 days listing = 18 days)
      • If no offers: after 7-10 showings or 25% of total marketing time being allowed. (eg: 180 day listing = 45 days)
      • At each 1/3 of marketing time being allowed or every 30 days. See ‘More’ articles for ideas, but look at cleanliness, decor IN & OUT, pricing against comps. (eg: 180 day listing = 60 days)
  7. More advertising will only hurt a listing making it stale and stigmatized if its not priced right and shows well … the first time.

MY HOUSE SOLD IN A DAY ~ IT MUST HAVE BEEN TOO CHEAP!

Seriously? One day one you had 6 months worth of lookers, 30-45 days of shoppers. If you 1. did your part to stage it, 2. the agent did their part to expose it with ‘a full deck of cards‘ on day one, and 3. you worked honestly together to nail down a price that is competitive, then this is your best expectation come to fruition.

OLD LISTINGS GET STALE AND SELL FOR LESS!

More:anibal-group-realty-net_worth-michigan-florida-realty-beach-sunglasses-2.png

General:  SEARCHES  Map| Detailed | Lake

 

ON MARKET: 26651 Elk Run, South Lyon MI schools, New Hudson MI spotless 3/3.5/2 under $300k !

March 15, 2019

Update – sold over ask in under 2 weeks.

Just Listed! Open TBD

Related Articles: Call

 

* Anibal Group LLC does not offer legal advice. This article is not to be considered advice specific to your situation. Most financial decisions should involve advice from a trusted professional of your choice that will advise on insurance, legal, banking/ lending, structural/ property condition, and other transaction significant matters. We can offer referrals for CPA’s and other professionals.

You’ve Got Tools – a more ‘organized’ approach to NetWorth Bigger Picture

March 8, 2019

Every year things change, so we have too! We formalized ‘Plan’ to help get to ‘Develop’ & ‘Execute’.Anibal-Group-RealtyNetWorth-door-question-chess-1

Below are new tools for our goal, your ‘bigger picture’.

TOOL#1 The YourVISION

tool helps you think about your bigger picture AND share it, so we serve you better. CL_ad_mug

TOOL#2 ARTICLES

see YourSpace247 portal RH sidebar for new links to our knowledge base.

TOOL#3 YourNOTEBOOK,

is an evolving tool produced from your feedback. This new link in your portal RH sidebar is a spreadsheet with tabs (shown below). We jointly track year to year information IRS now requires us to keep, as record of your representation. More importantly, I encourage you to look for items of interest and questions of usability. Having ‘factors’ in one location (a cross reference spreadsheet), and knowing YourVISION, we can work together on ‘what if’ questions. Here’s an overview. Series: ‘MORE TOOLS’ ~ Home economics, budget, mortgage, income taxes

Suggested uses:

– Permanent info for tax returns/ tax planning for future years.
– Home economics files.
– Estate planning.
– Financial planning.
– Summarize voluminous documents.
– Information for net worth.
– Information for loan application.
– Eldercare, estate, will & trust planning.

The ‘starter’ YourNOTEBOOK (link in sidebar of YourSpace portals) is shown below. It will evolve based on YourVISION & changing needs. Not shown in the ‘starter’ YourNOTEBOOK are many more spreadsheets. The best, I think, are planning/ evaluating future cash flows. For example, what will be your expense needs against various types of later year income sources. Also, evaluate income sources against each other – plan a good mix of sources. ‘READ’ and ‘topics’ are active links, ‘tab’ is unique to and active from your spreadsheet.

READ: topics: tab: uses:
READ: TAXATION
Notes to us Post notes/ links/ calculations here for open activity.
INCOME TAXES Note to you We’ll post questions/ notes/ links/ calculations here for open activity for your feedback.
Quick estimates Quick estimating. Useful at anytime either YOUR situation will change OR tax law OR both.
Sched C Track your business income/ expenses
Sched E Track your rental income/ expenses
Miles Useful for repetative reoccuring trips re: mileage travel.
Miles/ Meals Useful when overnight stays are part of mileage travel.
Home office Useful for local mileage and for rentals/ home office deductions.
1099 info Sample uses: Keep track of your year to year 1099’s being issued. Share info here if you wish these prepared.
READ:
HOME ECONOMICS
IMPROVEMENTS Assets Useful for insurance coverage, for buy/sell tax calculations, and for rentals/ home office deductions.
SSA_Est.1 Plan your SS payout timing and spousal options during earning and/or payout. Consider using Roth before taking SS.
CREDIT PswdMgr-Budget Make passwords easy for you/ hard for others. See your monthy & annual needs. Compare balances to pay down more quickly.
AlaCarte-TxSvgs-RNW Preplanning a buy/ sell transaction can save you thousands. Request further information.
DOCS_Reviews_Tax Document tracking. Simply copy/paste doc links from YourSpace.
Parse & total stmts Copy/ paste your CC or Bk Stmts and easily total payee/ categories. Once setup m akes a breeze of use.
READ: REAL ESTATE
PROPERTY TAX Property Basis Useful for insurance coverage, for buy/sell tax calculations, and for rentals/ home office deductions.
MORTGAGES Amort See how to more quickly pay off a balance, especially if non-deductable &/or you can get a better ROI elsewhere.
BUYING ADD THIS Docs-buy Document tracking, sharing. Copy/ paste YourSpace links here for all in one place quick access.
SELLING ADD THIS Docs-sell Document tracking, sharing. Copy/ paste YourSpace links here for all in one place quick access.
LANDLORDING ACTIVATE ROI Calc Compare investments held. Includes appreciation, rent/cash flow, tax savings.
ACTIVATE Valuation Evaluate home for selling, buy offers, tax protests. Includes seasonal & condition adjustments & market time considerations.
RELO EXPLORE Relocation Evaluate a list of agents/ brokers, selected, screened, and parsed by various criteria.
Purch/ Refi Qualify How size loan/ home can I afford? Can I qualify for refinancing?
Rehab Tracking Track rehab project expenses-to-date for you or your property management team.
Tenant App Online input tenant application for prospective tenants.
Tracking Keep log of timing & method of tenant interactions to support statutory compliance.
READ: ENTITY
Annual Estimate Plan the amount you expect for annual income/ expenses and required payroll(s).
Payroll card Track withholding with end of quarter and year to date totals.
Quarterly Est Track 941 and MISUW deposit requirements.
YearEnd checklist Keep books up to date with year end entries. Stay compliant with meetings and minutes.
Timecard Employee and contractor charges/ payments/ and payment threashold triggers.

* The above is for informational purposes only. Anibal Group LLC is not offering professional advice & this article is not to be considered advice specific to your situation. Your decisions should involve professionals of your choice re: insurance, legal, banking/ lending, structural/ property condition, and other transaction significant matters. We can offer referrals.

Series: ‘MORE TOOLS’ ~ Home economics, budget, mortgage, income taxes

March 1, 2019

SERIES: The ‘Portfolio Approach’ includes access to spreadsheets. I have thousands of spreadsheets I’ve created to assist clients…thousands. To help you organize your thoughts, there a quite a few templates that interact, to assist and give value. Some examples of these ‘multi tab spreadsheets’ would be to assist:

  • buyers – valuations/ closing costs/ pricing/ estimated time to market, etc.
  • sellers – valuation/ checklists/ comparing
  • investors – compare/ value/ track ROI/ tax issues
  • landlords – rehab costs/ ROI tracking/ management feedback/ tenant interactions
  • home economics – this is usually the start point for customers / clients. With this tool set, we can do what the mechanic does with a scan tool, what the doctor does with a workup, and what your insurance agent does with their annual feedback form.  Lets take a quick look:

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By the time you see these, they’ve no doubt been updated.

One great advantage for you will be that these are ‘live’ and interactive. We can edit formulas/ ‘what if’s/ and make clarifying graphical changes to your taste, in real-time, during a phone chat!

Look at the tab names on the bottom. What can you think up that I can assist with?

IN RELATED SERIES POSTS:  I’ll share REAL ESTATE and ENTITY ‘frequently used tools’. 

Tools have been created to help assist if you have, had, or are considering any of the below:

  • … income property?AnibalGroupLLC_RealtyNetWorth_tax-savings-with-buy-sell-brokerage
  • … a small business or 1099 contract income?
  • … an entity such as S-Corp, LLC, or Partnership?
  • … using property as home office, land storage rental, pole barn use, attached apartment for related/unrelated, or VRBO.com style letting?
  • … college (or other) housing for student/ child?
  • … providing housing for parent?
  • … vacation/ seasonal property that may have mixed use?
  • … relocation related to work?
READ: topics: tab: uses:
READ: TAXATION
Notes to us Post notes/ links/ calculations here for open activity.
INCOME TAXES Note to you We’ll post questions/ notes/ links/ calculations here for open activity for your feedback.
Quick estimates Quick estimating. Useful at anytime either YOUR situation will change OR tax law OR both.
Sched C Track your business income/ expenses
Sched E Track your rental income/ expenses
Miles Useful for repetitive re-occuring trips re: mileage travel.
Miles/ Meals Useful when overnight stays are part of mileage travel.
Home office Useful for local mileage and for rentals/ home office deductions.
1099 info Sample uses: Keep track of your year to year 1099’s being issued. Share info here if you wish these prepared.
READ:
HOME ECONOMICS
IMPROVEMENTS Assets Useful for insurance coverage, for buy/sell tax calculations, and for rentals/ home office deductions.
SSA_Est.1 Plan your SS payout timing and spousal options during earning and/or payout. Consider using Roth before taking SS.
CREDIT PswdMgr-Budget Make passwords easy for you/ hard for others. See your monthy & annual needs. Compare balances to pay down more quickly.
AlaCarte-TxSvgs-RNW Preplanning a buy/ sell transaction can save you thousands. Request further information.
DOCS_Reviews_Tax Document tracking. Simply copy/paste doc links from YourSpace.
Parse & total stmts Copy/ paste your CC or Bk Stmts and easily total payee/ categories. Once setup m akes a breeze of use.

Related Articles:

* Anibal Group LLC does not offer legal advice. This article is not to be considered advice specific to your situation. Most financial decisions should involve advice from a trusted professional of your choice that will advise on insurance, legal, banking/ lending, structural/ property condition, and other transaction significant matters. We can offer referrals for CPA’s and other professionals.