Posts by: ARMLS

Rentals vs. Home Sales – RCQ Battle

RENT Check, our monthly rental report, displays the ratio of closed rentals to home sales in the MLS each month. We call that ratio the RENT Check Quotient, RCQ for short. Even if you don’t work rentals, knowing if rentals are sucking up the buyer pool can be helpful. Below we’ve compiled the RCQ from all previous RENT Check reports into a chart, which we intend on publishing semi-annually: (The individual RCQ values can always be found on this page each month.)

RCQ-History-2014

How you can compile the RENT Check RCQ
It’s easy and you can do it yourself! First, start a Rental Quick Search in flexmls. Then select Status: Closed and choose a Lease Start Date for the period you would like to evaluate. Add any criteria you would like, for example a ZIP code you work. Get the count of closed rentals.

Perform a similar Residential Quick Search, choose Close of Escrow date under Closed with the dates you chose for the first search. Apply any similar criteria you applied in the Rental search, then get a count.

Now, divide the number of closed rentals by the number of closed residential sales (3500/5400). The result will be a decimal, that’s the RCQ. Move the decimal point two places to the right, drop the leading zero and add a percent sign to show it as a percentage, example: 0.566 -> 56.6%. Download the historical RCQ data here.

We Need Your Help!

credit-cardSubscriber fees are now past-due, which means in less than a week several Subscribers will be shut-off for non-payment. We don’t want to shut-off anyone this year (or any year for that matter). Pay your fees here!

We’ve reminded Subscribers by:
Sending 5 email blasts
Placing a giant annoying orange payment button on ARMLS.com
Posting on Facebook, Twitter and this blog
Posting to the MLS message board
Forcing a mandatory payment reminder screen to use flexmls® Web
…and various other places/messages

How you can help us:
Simply share this blog post by clicking one of the following icons:



Access to the MLS system and use of the Lockbox Key will be suspended if payment is not received by ARMLS® before close of business (6 p.m.) on July 7, 2014. A $15 reinstatement fee will be added to all delinquent accounts.

Monsoon Definitions

GSE? Reverted? Bulk? In the Monsoon Tax system, there are several categories of transactions and other terms you may not know. Here is a short list of definitions:

Monsoon-Blog3rd Party
Successful Trustee’s Sale purchase.

Bulk
Multiple property sale, properties may be scattered across the Valley with a single transaction recorded, usually between investors.

FCV / FCVR
FCV, Full Cash Value is calculated by the County Assessor, and is what they consider to be the value of the home. FCVR is the ratio between the FCV and the last Sold Price. A FCVR of 1.0 would mean that the property’s sales price and FCV were the same.

Flip
Property purchased by an investor then resold within 180 days.

GSE
Sale by Government-Sponsored Enterprise (Fannie-Mae, FHL, etc.).

Prelim vs. Final Tax Assessment
The Prelim Tax Assessment is the County Assessor’s estimate of the total tax bill for that year. The Final Tax Assessment is the actual amount of taxes billed for that property.

Reverted
Failed Trustee’s sale, property reverts to beneficiary (mortgage holder).

Want more Monsoon info? Check out the Monsoon Wiki.

Do You Know These Acronyms & Abbreviations? | Quiz

Think you are a real estate acronym & abbreviation hotshot? See how you rank in our Acronyms & Abbreviations Quiz below. After that, check out our Subscriber Technology and Real Estate Designation quizzes.

How many of these ARMLS related acronyms do you know?



Quiz not appearing above? Click here.

Don’t 99 Yourself

99-listing-prices
There are 457 residential listings, listed by 392 Subscribers who may be losing buyer traffic because of the “99″ pricing gimmick.

price-rangeOnline buyers most often search in zeros, on many sites they have no choice. If a Buyer is looking for a home priced $100,000 to $110,000, your $99,999 listing isn’t going to show up. Missed by $1. If the same listing was priced at $100,000 it would likely show up in more searches – here’s how:

Take the following two scenarios into consideration:

Buyer #1 does a home search, selects $100,000 to $110,000
Buyer #2 does a home search, selects $75,000 to $100,000

If your listing was priced at $99,999, only Buyer #2 would see your listing.
If your listing was priced at $100,000, Buyer #1 and Buyer #2 would see your listing.

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