The Advanced Group is Self-Forming Nicely (LA 858)

Transcript:

Steven Butala: Steve and Jill here.

Jill DeWit: Hello.

Steven Butala: Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.

Jill DeWit: And I'm Jill DeWit, broadcasting from sunny Southern California.

Steven Butala: Today Jill and I talk about how the advanced group is self forming nicely. It's the group that we talked about yesterday.

Jill DeWit: I'm so happy and so excited, I want to also say, "Yay, it's the day after Thanksgiving. It is officially Black Friday." and that means it is officially 2.0. So if you are a member and you have not logged on to your member dashboard, go there now. It is there ready and waiting for you. I know a lot of our members have been oh so patiently waiting for that, I know that they're excited to have it, so, yay.

Steven Butala: I have to say I'm kind of happy that its behind me too. It takes a lot of work on both of our parts, Jill and I, it takes a lot of time to put together a five hour-

Jill DeWit: How many hours is it all together?

Steven Butala: It's about five hours.

Jill DeWit: Okay cool. And that-

Steven Butala: The first one's about 10.

Jill DeWit: Okay, and I wanted to say too, this is not a replacement of 1.0, this is an addition to it. It builds on that, and add more, and takes you more into Info Lots.

Steven Butala: By the way you can't buy them separately, it's value added. Jill and I try to continually add things for our existing members and for obviously new members.

Jill DeWit: For right now.

Steven Butala: Yeah.

Jill DeWit: As of right now it's all one. So as of right now if you are an existing member you get it automatically for free, and as of right now if you want to take advantage of the special that's going on today, Black Friday you get them both.

Steven Butala: Are you thinking about separating them?

Jill DeWit: I'm not sure yet. I'm leaving the door open.

Steven Butala: I never even thought about that.

Jill DeWit: Yeah, leaving the door open. I might do something with that, we'll see.

Steven Butala: Before we get into it, let's take a question posted by one of our members on the landinvestors.com online community. It's free, and as your listening please drop your questions into the comment section below.

Jill DeWit: [Chloe 00:01:59] asks, "When I look at Realtor.com/research, I see a chart that shows market trends, median list price, y/y. Then I look to the right and I see a county name/state name. Then I see a column with the median listen price, y/y. Can someone explain to me what this y/y means? If the median price for an area is $174000, and the median list price, y/y says 2.4%, what is this telling me?" So confused.

Steven Butala: First of all this is a fantastic question. Jill and I say this all the time, "You can tell out of the box who's gonna do well at this right away." And you are clearly one of those people because you need to know these statistics and understand what they mean so you can use them to your advantage when you make decisions about where to send mail and for how much. Y/y means year over year, and \M, means month over month. So the working example here is that for whatever area you chose, the median price for an asset's $174000, y/y, year over year, it increased 2.4%. So, that $174000 house last year, it went up 2.4%. I hope that's clear. What I look for when I look at these statistics is, is it going up or is it going down? 2.4% is pretty low, the average is 3-5%.

Jill DeWit: Got it.

Steven Butala: And some markets like Seattle are up 90% year over year.

Jill DeWit: What's the median house price right now in the whole country?

Steven Butala: $220000.

Jill DeWit: Okay so this is a lower one too.

Steven Butala: Yeah.