We Live by Days on Market

Transcript: 

Jack Butala:                       Jack and Jill here.

Jill DeWit:                           Hi!

Jack Butala:                       Welcome to the Jack Jill Show. It's here where we provide entertaining real estate investment advice, or try to anyway. I'm Jack Butala.

Jill DeWit:                           I'm Jill DeWit, broadcasting to you live from sunny southern California.

Jack Butala:                       Today, Jill and I talk about how we live by days on market. If we can get past these forest fires ...

Jill DeWit:                           Oh my gosh! You know what I was just actually thinking, I'm actually sounding much better today. Remember, I was fighting that cold. I swear, that drug on for days-and-days-and-days-and-days-and-days ...

Jack Butala:                       You sound better.

Jill DeWit:                           ... And days-and-days. Thank you. I know.

Jack Butala:                       Before we get into today's topic, let's take a question posted by one of our members. On the jackjill.com online community. It's free.

Jill DeWit:                           Josh asks, "Hi, everyone. I've heard on the podcast that pricing mailers specifically down to the subdivision is a great way to accurately price a mailer. Has there been a specific podcast or thread on how to actually go about doing this? What is the best way to identify a specific subdivision in a county? I know the information can be found in the real quest data that we pull, but I'm not exactly sure what I should be looking for, to group like properties together using a subdivision filter. APN schemes look out for, legal description, etc. Any insight would be appreciated."

Jack Butala:                       Super good question, Josh. In fact, that's how I actually price mailers for houses. Not so much for land, but for houses. There's a few ways you can do this. The first thing, you already mentioned, I would go to the jackjill.com community, where you posted this, because there are ... Then, keyword search, subdivision, or drill down from there. I just recently looked. There's like 14,000 entries.

Jill DeWit:                           Oh my gosh!

Jack Butala:                       Can you believe that?

Jill DeWit:                           Yes, I do. I do believe that. Yes.

Jack Butala:                       There's a ton of real advice from real people that have done this that are in our group as well as for me. I'll give you my two cents here. First of all, it's a fantastic idea, like I said. The best way to do it, I find, is through finding an APN range out of the whole mess of APNs in that county.

What I mean by that, is that when a developer goes into the county and says, "Hey, you know that big piece of vacant property out there? I bought it and I want to make a subdivision." One of the things that the assessor and the county does, is they assign a series of APNs starting with the number, let's say for sake of argument, 112.

Between 112 and 4,002, those are properties that are in that subdivision. If it's like normal subdivisions, they're like-kind properties, so they're pretty easy to price. They're all similar. You're definitely on the right track.

This venue's beyond the scope of really drilling down into it, which is why Jill and I are prepping for teaching online classes and live classes to drill down to some of this real specific information, which, let's just face it, the better you are this technical stuff, the more dough you're going to make. It's as simple as that.

Jill DeWit:                           Exactly. You can find it in the legal description too. It's a little more time consuming, because it'll show Anthem, lot 25, things like that. They'll be in there too.

Jack Butala:                       In the more urban counties actually have, I mean, there is a whole column for a subdivision name.