Knowing Your Numbers!?!?!?!

12 Replies

It is that time of year for you to run your areas numbers. 

IMHO you will want to know the following in order to determine a marketing plan and have a good understanding on your market conditions. 

I like knowing the following based upon zip codes

1 - Total Cash Sales last 6 months

2 - Total Cash Sales Absentee Owned Last 6 Months

3 - Total Single Family Units and Total Residential Units.

4 - Number of Mortgage Lates 30 - 60 - 90 and 120+

5 - Number of Pre-Foreclosures filed (NOD or Lis Pendens) Broken into the last four Quarters.

6 - Number of REOs Broken into the last four Quarters. 

7 - Current Median Value

8 - Percent of increase or decline in median 1 month 3 months 6 months and 12 months

9 - Average Days on Market and the last four quarters trend

10 - Number of Active SFR on market and each of the prior Eleven Months

11 - Number of Sale Pendings 

12 - Number of Sold SFR by Month Last Eleven Months.

10 - Number of SFR units with 30% equity and under Median Value

11- Number of SFR at bottom 3rd, middle 3rd and top of median and 30% equity.

Well kind of.... Its easy and time consuming. Very time consuming actually... However will pay off when determining where to spend your marketing dollar and it also helps a ton with seller negotiation. 

Not to mention knowing an areas increase or decline in value and DOM allows for correct offers and at times a great equity build while in escrow. 

@Shawn Morey  food for thought. We should know a few or most of those things for each area we are hitting. @Michael Quarles  thanks for the post

Very nice, Michael. Sounds kind of familiar too....

Originally posted by @Michael Quarles :

It is that time of year for you to run your areas numbers. 

IMHO you will want to know the following in order to determine a marketing plan and have a good understanding on your market conditions. 

I like knowing the following based upon zip codes

Michael, do you use MLS to find this info? If yes, where and how to find this info without access to MLS?

Thank you.

@Michael Quarles  great information here. I am just beginning to plan my marketing campaign, and this is definitely some things I need to know!

Erick Martinez,
I found an answer. @Michael Quarles answered it on the Podcast #81, 32:49. He said that you can find the info on the listsource. You can open a free account and compile the data. You will not see the names of the people, but you are going to know your numbers. Whether you are going to mail to them or not, you can compare different segments/zip codes to one another in your market research. Especially, if you are just starting or exploring a new market and really want to know the area, this is the way to go per Michael Quarles. In the podcast he outlines why this is important and backs it up with data.

Michael Quarles, thank you so very much for being so thorough and generous with the information. For me and I'm sure for many many many others the information that you so graciously share is nothing but a ticket to freedom. Thank you!

for those who asked about where to obtain the data. 

1- list source for cash sales, number of units, units under median, number of foreclosures and REOs.  

2-  Trulia for median and trending information

3- MLS for DOM active pendings and inventory levels

4- Credit Bureau for mortgage late data 

For the average market expect to spend about 8 hours putting the numbers together. 

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