Series: SELLING – how much exposure should I be getting?

Insertion in the MLS can be good, but in some cases it can work against an optimal outcome.

When I use it, I’ll recommend it as ‘part of’ an overall approach, and timed properly. If the relatively passive marketing approach of only using MLS & always employing it asap is used, you may be missing opportunities.

Dedicated social media page, posting of ads, mailings to your neighborhood and my client list, dedicated URL page just for your property and yours alone, YouTube, these and other tools used correctly and at the right time have produced the type of results seen in this one example listing. Below is a glimpse of the URL page and what example days of syndication look like using a ‘formula’ to drive traffic. My approach you might call a ‘controlled exposure’.



Conclusion: Often our listings have up to 3x the views per day as competing listings.


Anibal-Group-LLC-RealtyNetWorth-sold-rider-sign


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General:  SEARCHES  Map| Detailed | Lake


SERIES: Home Care ~ Rough Estimating Remodel

For home improvement, care, and maintenance tips, follow this series. We’ve ‘been there, done that’.


SERIES: Your net worth strategy includes caring for your home. This pays dividends when you sell, not just now. The ‘Portfolio Approach’ has never made more sense than now.

This link https://www.remodelingcalculator.org/  has 2 perks:

  1. ‘Estimate Cost’ – my favorite click on
  2. ‘Get Local Prices’ –  to input zip code and then get a proposals
  • As you can see, you can input from the options and get rough estimates. I’d try this even if I was (and am) a DIYer, so as to not go into a project to naive!

Related Articles:

Anibal Group LLC Realty Net Worth - Home Improvement care and maintenance series


* This article is NOT an offer of legal or contractor advice by Anibal Group LLC. 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.

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

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!


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General:  SEARCHES  Map| Detailed | Lake


 

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

Just Listed! Open TBD





Related Articles:

  • Coming soon:

    • 2-3 Bd/ 2 Bth/ 4 car Flushing MI ~ historic very updated home under $130k

    • 3 Bd/ 2 Bth/ 2 car Columbiaville MI ~ lakefront home with extra lot needs some cosmetic updating. $300k range.

 

 

 

 

* 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

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

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.

Trusts ~ An estate tool for everyone

Anibal-Group-RealtyNetWorth-Dog-In-LakeOnce you’ve physically or mentally passed to the next realm, you will leave some situation for family. Complicated interactions, probate and extra taxes may be the gift you leave. Or you may set up a trust.


A trust can greatly simplify things. There are many types used for various situations. The most common is a revocable living trust. It lets you:

  1. specify how your estate will be distributed
  2. can avoid probate – a lengthy, costly & emotional process
  3. minimize arguments

Joint property ownership, or payable-on-death transfers or accounts can also avoid probate. Be careful about the taxation consequences of these.

The cost will vary depending on your situation, but $1,500 to $3,000 may cover the basics of:

  • your trust
  • a will
  • medical directive and
  • a power of attorney

List out for assigning all of your assets to the trust that you wish to avoid probate. Include wording for any additional assets so they may ‘pour over’ into the trust.

Retirement accounts and insurance policies generally aren’t subject to probate.

While alive, you have control to change, or even revoke it. Revocable trusts don’t require a tax return. This type of trust is part of your estate & won’t offer much tax benefit or asset protection. An  irrevocable trust can, but once set up is difficult to alter.

After passing:

Further benefits are clarity and control. You may detail how your assets are distributed to beneficiaries and avoid much family conflict. For younger ones, a trust can outline ages and conditions they receive what part of their inheritance.

Special needs trust:
A special needs trust is a form of revocable trust designed for dependents with disabilities. Social Security allows disbursements without disqualifying them from Social Security, Medicare, or other benefits.
Private or public wishes?   
If you use probate things can complicated since probate files are public record, trusts are not. As always, seek legal, tax, and financial feedback from advisors in all areas.

READ MORE:



* 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.

The Best Time Of Year To Sell A Home

Do those articles ​’Best time to sell’ lack depth to you? … seem to leave out ‘bigger picture’ approach and how/ what to calculate? Simplistic, in fact. ‘Best time’ means many things. Anibal-Group-LLC-RealtyNetWorth-Marketing-Open-House-Signs_3_In-Yard_Open_ForSale_Website-2

For quickest sale?, highest price?, least competition?, most ‘looks’? It depends on your goals what’s best for you. It also depends on what the best features of your property are: eg: retiree target?, waterside?, near summer/winter activities?…or perhaps a college.

There are pluses and minuses at each time of year, the secret is if you must sell now, then your buy/sell/relocate timing needs to match marketing approach and expectations. If you can be flexible, timing moves up your list based on your overall goals. A ‘move-up’ situation differs from a ‘down-sizing’ approach. The time-of-year preference is opposite.

Now locally, Nov-Feb oft have the lowest price, end of May thru early July the highest. If speedy sales are your goal, the data gets trickier and is more dependent of who’d be the typical buyer, eg: family with school children, golfers, skiers, etc. You get the idea.

Nearly every day I ‘pull’ from public & agent-only sources, and build buyer/seller spreadsheet ~ posted to and accessible from YourSpace247. The answer isn’t as simple as the online magazine sites generic data driven (vs human intervention) generalizations.


  • https://www.zillow.com/research/best-time-to-list-2018-19215/

    • ‘.. Nationwide, the first half of May is the best time to list a home ..’
  • Best month to sell Best day of the week to list Why?
    First half of May Saturday Nationally, homes listed for sale in this window sold almost two we

    eks faster than average, and for $2,500 more,

  • https://magazine.realtor/daily-news/2019/03/18/the-best-week-to-list-a-home-is-quickly-approaching
    • ‘… During the week of March 31 to April 6, homes are listed, on average, for 6 percent more than at the beginning of the year—an extra $17,000, according to the study. Homes for sale that week also tend to fetch 14 percent more views on realtor.com® than at other times of the year. Further, listed homes sell about six days faster. The homes also see less competition that week; the highest number of homes tend to go up for sale in late spring…’

Property not moving quickly ?


Ready to move forward? We formalized ‘Plan’ to help get to ‘Develop’ & ‘Execute’.Anibal-Group-RealtyNetWorth-door-question-chess-1


 

 

SERIES: Home Care ~ Really Cold Outside? Turn Heat UP, not Down!

For home improvement, care, and maintenance tips, follow this series. We’ve ‘been there, done that’.


SERIES: Your net worth strategy includes caring for your home. This pays dividends when you sell, not just now. The ‘Portfolio Approach’ has never made more sense than now.

ITS COLD OUT!Anibal Group LLC. Realty NetWorth_Lake.Shannon.net.winter.2018_12_07

If you have neighbors in older homes they tend to have hot water heat – so exterior pipes! Remind them and anyone else that may have hot water heat that its best in extreme cold to turn heat UP, not down.

The furnace cycles on/off and when off, water stops moving. The temp at the outside wall will be some average of outside air and the setting on the thermostat. e.g.: Set on 65, outside is -5 then that temp could be under freezing! This is especially true near doors, on the windy side of the house, and where pipes pass thru walls/ floors.

  1. Open closet doors. Anibal Group LLC Realty Net Worth - Home Improvement care and maintenance series
  2. Allow inside air access to pipes as much as possible.
  3. Move obstruction from near pipes.
  4. Know where the water shut off and/ or well shut off is (and a wet vac should things turn ugly).


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.

SERIES: Your net worth strategy~Another RNW Brokerage Perk: Income Tax Savings.

How much you can SAVE on INCOME TAXES using a REALTY BROKER (us) that gives INCOME & PROPERTY TAX ADVICE in the professional service package & offers ALA CARTE BILLING?


SERIES: Your net worth strategy just changed with the tax law changes. The ‘Portfolio Approach’ has never made more sense than now.

Think about 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?

Here’s an example of what you could save over using another agent/ brokerage who will not be including or offering taxation perspective in how your deal is structured, financed, the timing, how title is held, and other topics from a taxation perspective.*



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.

Vacation & relocations: Savannah GA. Meeting you where & when you move.

Your net worth strategy just changed with the tax law changes. The ‘Portfolio Approach’ has never made more sense than now when you look at your:

  • Saving for retirementAnibalGroupLLC_RealtyNetWorth_ 10-24-2018 7-54-05 PM
  • Property holding(s)
  • Tax minimizing
  • Net Worth maximizing

Here’s an example day visit to somewhere you may have considered buying. It could be Savannah GA, or Hilton Head SC, Charleston SC, Myrtle Beach, NC, VA, or Maryland as well. Yes, we broker in MI, FL, and meet clients at all points in between.



Related Articles:


CHARITY GIFTS & MATCHING

Anibal-Group-RealtyNetWorth-CharitiesI’ll match your charitable contribution w/up to 10% of our commission.

Simply choose your charity when initiating services.


Currently Supported:


Like your charity added to my giving list?

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Please provide contact info, web link and photo to get started.


 

Selling a house: Sellers do you hurt the process?

Selling a house ? Its about 1 buyer, not ‘hits’, not ‘showings’. Meet & Discuss


Here’s some of the worst mistakes sellers make.

  • Pricing too high:
    • The big reason I use an in-depth approach model to a pricing range is because I feel is THE Most important aspect of the selling experience. Buyers have had their search app set to send them updates. Overprice and you’ll show up in searches of properly priced homes. ‘Days on market‘ ? What does this mean to you? No other brokerage uses our valuation model OR our approach to prevent the ‘stale’ listing.
  • Fist impression:Anibal-Group-LLC-RealtyNetWorth-gorgeous-bedroom-1-selling-staging
    • Flowers, lawn, edging, lights (if eve). If it doesn’t draw the eye away from the next house, buyers have already started to look for reasons they don’t like the inside once they step through the door.
  • Making the place ‘sell – ready’:
    • Selling a house, car, or garage sale items … dirty, and non-functional aspects are over emphasized the potential buyers mind(s). Clean and fix as if you are looking to buy it! This includes emptying storage areas and staging…without clutter. You’re not selling a candy bar – do the work, glean the $’s.
  • The inspection, do it before the offer(s):
    • Sellers that won’t take my word for it should get an inspection up front. Why? You can present it as part of the marketing material and avoid the offers that try and hustle the seller after tying up the house with ‘nit pick’ things that you should have attended to before. Fix it, or disclose it before they write – thank me later.
  • Taking feedback as a personal attack:
    • Why are sellers shocked that buyers also want the best deal? Its numbers. Lets update the valuation spreadsheet, then as dad said ‘tell them what you WILL do, not what you won’t’…. the house is sold, if you want to buy it back, state your price.

More from:

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Do those home sites make you wonder what you are getting.

  • Lots of ‘hits’! Are they qualified buyers or just ‘photo surfers’?
  • Lots of showings. Ready to act buyers? … or agents using your house to compare against?

Get:

  • The data you need to make a big decision.Anibal-Group-LLC-RealtyNetWorth-Sell-CMA-Valuation-Analysis-PUBLIC
  • ‘Drill down’ marketing to bring ones that really want your place (and will pay for it).
  • ‘Property Specific’ (not plug-n-play):
    • Comparative Market Analysis (CMA) that takes more than a few minutes. Most are very over-simplified. Zillow reviews.
    • Pre-listing ‘to do’ list.
    • Website that showcases your property ONLY without distracting ‘click-aways’.
    • Marketing using specific demographics & interests unique to your offering.Anibal-Group-LLC-RealtyNetWorth-YourSpace247 seller
    • Videos of your property and area.
    • Your own portal space – 24/7 access.

 



My Continuing Education

Just finished another years course work. Again, I try to take a curriculum I feel most benefits my clientele. So what kind of classes do I take?

To keep a license active, continuing education is a requirement, both for Michigan and Florida real estate brokers (and agents). Most folks may not realize but we may choose from many different ‘approved’ classes.Anibal-Group-LLC-RealtyNetWorth-NetWorth-Basics-1

Here is some recent completions for MI real estate con-ed / FL real estate con-ed / and income tax con-ed:


  • MI Green Matters and the Environment 2018
  • MI House Construction 2018
  • MI 6 HOUR PACKAGE E: Real Estate Legal Issues & Disclosure 2017Anibal-Group-LLC-Realty-Net-Worth-All-Over-USA-seal-beach-california
  • MI 6 HOUR PACKAGE D: Contract Law & Residential Leasing 2016
  • MI: [LAW] Agency 2015
  • MI ELECTIVE: Commercial Leasing 2015
  • MI ELECTIVE: House Construction 2015
  • MI ELECTIVE: Home Inspections 2015

  • 18 hrs, FL con-ed
  • Ethics & Business Practices 2017
  • LAW – Core Law 2017
  • SPE – Real Estate Specialty Credit 2017Anibal Group LLC Florida Realty Ft Lauderdale FL Corral Ridge Pres

Outside of classrooms, I’ll purposefully engage in ‘real life experiences’ that would tend to enhance skills & knowledge to pass along. This includes recent visits relating current, past, and prospective relo clients that encompassed much of the east coast including Maryland, DC, Virginia, NC, Charleston/ Hilton Head SC, and Savannah GA. Projects included a roof tear off replacement & insulation upgrade. Those 90 bundles went on easier when I was young, the 2 layer tear off ?, no fun!



Buyers beware: Seller occupancy after closing

When the seller needs additional time after close and plan post-close occupancy, buyers may wish to consider some ramifications. Will this effect your financing? How about insurance issues? Who will cover costs? … repairs? … substantial losses? Anibal-Group-LLC-All-Over-USA


Definitions:

  • Use and Occupancy Agreement – Seller to Remain: Principle residence – form/agreement, general in nature.
  • License for the Limited Use and Occupancy Agreement – form/agreement, more specific in nature for use of subject premises.
  • leaseholdtenancy and complexity of legal rights and obligations
  • lease – transfers “possession”, and
  • license – grants “only the right to use the premises” – a license to use and occupy, and nothing more. As a preliminary matter, it’s probably not a bad idea to refer to and title the agreement between the parties as “a license for the limited use and occupancy” of the subject premises, rather than simply a “use and occupancy” agreement

Questions:

  • Ask Lender: Will non-owner occupancy effect financing?
  • Ask Insurance agent:
    • House burns down – sellers is living there – post close, who pays?
    • House burns down – sellers has not surrendered keys, not living there but has possessions still there – post close, who pays?
    • Slip n fall – who pays?
    • Do you need landlord insurance?
    • Appliances included break, drain or HVAC fail – who pays?
  • Ask Lawyer:
    • For an agreement to cover possible losses
    • Word agreement that will not create for seller ‘tenant rights’
  • Ask Accountant:
    • If the seller pays $X/day for more than 10 days overstay, is this rental income?

Critical:

  • Whether an agreement creates a lease or license may be determined by:
    • a) the extent of the parties’ control over the premises;
    • b) the language of the agreement;
    • c) the intent of the parties;
    • d) the duration of the expected occupancy;
    • e) whether usage payments are made on a day to day basis;
    • f ) whether the occupant is free to leave at any moment.
  • Limited Use and Occupancy Agreement (may include such items as):
    • Seller pays per diem amount of $____  ( Usually at least covers: mtg pyt, ins., taxes).
    • Escrow held to be released after surrender of keys and complete removal all items & debris not included in sale. ‘Broom clean’ vacating includes but is not limited to: house/ garage/ attic/ yard/ out-building(s)/ with no trash remaining at curbside. Escrow for potential damage, hold-over, & buyer satisfaction of post move-out inspection $____ (e.g.: 3% of purch. price).
    • After _____ days (e.g. 30), per diem occupancy will increase to $____ (e.g. 1.5 – 2X otherwise).
    • Seller is responsible for risk of loss during post close hold over & will deliver in good working condition, the property, items included w/ sale, HVAC & plumbing.
    • Buyer may enter premises at any reasonable time to inspect property.

Forms:

Links for further reading:


Please seek you own professional legal, tax, real estate, and insurance advice – not to the reliance of this article.


Michigan Principal Residence Exemption

A significant part of any move, relocation, addition of 2nd home, or estate plan involves taxes; income taxes & property taxes for starters. Hence, below is a primer how to not accidentally double your property tax bill, or conversely, overpay if not need be.


Definitions:

Principle residence: Plan to return after ‘short absences’. Assessor will look at: min 6 AnibalGroupLLC_RealtyNetWorth_ 10-24-2018 7-54-05 PMmonths per yr occupancy, mail, driver license, voting registration, utility usage consistent.

Entities:

Trust will allow PRE to the grantor in most situations. Does not apply to family LLC’s or other entites. A residence that has been transferred into a Limited Liability Company, a Partnership, or some other legal entity will cease to be qualified for the principal residence exemption.

Deadlines:

May 1 for summer tax bill, Nov 1 for winter tax bill.

Scenario #1: 2 principle residences

  • Both are claimed as principle – one owner/person
    • Best to rescind one no matter if it is across town, across the state, or across the country.
  • Both are claimed as principle – two owners/persons
    • What address and filing status (‘joint’ or ‘separate’) do they file on 1040?
    • Can you demonstrate per ‘principle residence’ definition above that it is indeed your princ. res.?
    • From linked article below: ‘…What if you are husband and wife? State and Federal laws are nothing if not unclear about this distinction. The general approach is that we treat married couples as a single unit. However, … for purposes of the principal residence exemption, if a husband and wife file a joint (MFJ) income tax return, they are entitled to one exemption for their “marital unit.” However, if they file separately (MFS), they may each claim an exemption. Beware, however, that they will still have to demonstrate the “intent” reality discussed above. In most cases, unless the parties are separated, that will be pretty difficult to do….’

Scenario #2:  Short term renting our residence

Even though ‘guidelines’ suggest if a property is rented > 14 days per year it is not a ‘principle’ residence, this is inconsistent with recent court rulings and the source law:

  • ‘… Concerned about losing your homestead exemption because you have been renting your home for more than 14 days per year? Fear not, as the Michigan Court of Appeals recently ruled in the taxpayer’s favor on this issue. Michigan’s Principal Residence …’
  • Per statue: ‘ … the MCA ruled “the PRE guideline provision relied on relied on by the Tribunal is erroneous and inconsistent with the GPTA (Michigan General Property Tax Act – added).  Renting one’s home for more than 14 days does not disqualify a homeowner from the PRE.” …’

Scenario #3:  Current house for sale, new house already purchased.

  • State of MI realized homes are not always bought/sold simultaneously. Further, 2-princ.res.exemptions.while.marketingduring ‘down’ markets – or slow times of the year – homeowners may wish to time the sales process of the old home. Hence, you may have an ‘on-market’ home still receiving a PRE for up to 3 yrs.

Forms:

Links for further reading:


Please seek you own professional legal, tax, real estate, and insurance advice – not to the reliance of this article.


My Continuing Education, your benefit.

I try to take a curriculum most useful to my clientele. So what kind of classes do I take?

To keep a license active, continuing education is a requirement, both for Michigan and Florida real estate brokers (and agents). Most folks may not realize but we may choose from many different ‘approved’ classes.Anibal-Group-LLC-RealtyNetWorth-NetWorth-Basics-1

Here is some recent completions for MI real estate con-ed / FL real estate con-ed / and income tax con-ed:


  • MI 6 HOUR PACKAGE E: Real Estate Legal Issues & Disclosure Anibal-Group-LLC-Realty-Net-Worth-All-Over-USA-seal-beach-california
  • MI 6 HOUR PACKAGE D: Contract Law & Residential Leasing
  • MI: [LAW] Agency
  • MI ELECTIVE: Commercial Leasing
  • MI ELECTIVE: House Construction
  • MI ELECTIVE: Home Inspections
  • MI ELECTIVE: Residential Leasing
  • MI: [LAW]: Contract Law

  • 18 hrs, FL con-edAnibal Group LLC Florida Realty Ft Lauderdale FL Corral Ridge Pres

 

 

 


Investing: then and now

In 2012 I’d predicted a real once per generation buying opportunity. Now I have the spreadsheets from client deals to back it up. Further, take a peak at this:

Anibal-Group-LLC-Realty-Net-Worth-A-look-back-at-investment-advice

So, after you re-read the old article from 2012 here:

Let me recommend a quick read here:


Then I invite you to sit down and chat about your portfolio/ homes/ vacation residence/ elder care and college town houses.Anibal-Group-LLC-Florida-Realty-101-I-Think-Its-Time

 


Meet & Discuss Further Share Your Buy Wish List



 

New tax law – new strategies.

  • Standard deduction – way up.Anibal-Group-LLC-Florida-Realty-101-I-Think-Its-Time
  • Itemized deductions – far less valuable.
  • Misc employee exps – gone.
  • State/local & property taxes capped at $10k total.
  • Planning point: move expenses to other places or eliminate them because they have less/no value.

  • LLC’s, S-Corps, Partnerships enjoy new 20% deduction.
  • Planning point: How you hold your property investments can have a big effect

Extra Reading:


Meet & Discuss Further Share Your Buy Wish List



‘Pocket Listings’ Who loves `em/ who hates `em & why?

Isn’t everything done best via the MLS? Lets look.Anibal-Group-LLC-RealtyNetWorth-for-sale-appliances-architecture-ceiling-chairs

Meet & Discuss Further <|> Share Your Buy Wish List


Loves `em:

  1. Often seller(s) who want a highly controlled, minimally invasive, & best outcome approach to the selling process… a “rifle style”.
  2. The agent/broker who wants to take the time, target the marketing, minimize interference without publishing so much history and pricing data that it works to the buyers, not yours (the seller’s), favor.

Hates `em:

  1. The websites that sell ‘buyer leads’, they need to control the data. (Zillow/ Trulia/ Estately/ Redfin…)
  2. The buyer or buyers agent that wants as much control over the seller and their ‘story’ as possible.
  3. The ‘nosey neighbors’.
  4. The friends that want to know know more about you!
  5. A less than scrupulous agent that wants to put your house on ‘the tour’. In reality your home is a stop on the way to the one they want you to write an offer on.
  6. These are NOT real & qualified buyers of interest. They like the “shotgun style”

Perhaps look at it this way: Do you prefer thousands of curious lookers, or the highest thousands of $’s?

Related articles?

More about Selling ?

Like to talk further ?