The Truth About A Dubious Real Estate Statistic: What You Need to Know

The Truth About A Dubious Real Estate Statistics: What You Need to Know

You have likely come across the well-known quote attributed to Mark Twain, the celebrated American humorist and author, which asserts that "there are three kinds of lies: lies, damned lies, and statistics."

In real estate, several damned lies masquerade as statistics. They are routinely reported to consumers every day, and not just by ignorant real estate agents who have no formal math education, but by experienced real estate agents and large real estate portals with people managing the databases who must know better.

When it comes to buying or selling a home, it's important to recognize false or misleading statistics that can lead to costly mistakes. Knowing how to spot these traps will help you make informed decisions and get the best value for your property. By understanding the current market conditions, you'll be empowered to negotiate confidently and avoid being taken advantage of.

What To Offer On A Home In A Sellers Market
We are experiencing the strongest seller's market on record, so you have to be prepared to make the right kind of offer if you want to buy a home today. And it's not all just about how much to offer, there is so much involved when making the "RIGHT" offer in a seller's market. I have shared my experience of selling thousands of homes in a seller's market, both with working for buyers and with working for sellers. I have shared 3 important home buying tips to enlighten you on what matters most to sellers so
What are closing costs when buying a home?
If you are planning to buy a home now, or in the next few months, there are some fees and expenses you’ll need to pay in addition to your down payment that you should know about. Other than your down payment, all money you spend when you buy a home are called “closing costs,” and you should know about them ahead of time. Even experienced buyers can be surprised at all the costs that are associated with buying a home today. This short video will cover what you need to know so that you can (one, be prepared,
6 Tips For Selling A Home In 2022
This ain't your grandpa's real estate market, the process for selling a home and getting top dollar have changed so much. It starts with knowing the best way to sell your house. There are home selling tips and tricks you can use.
Pre-Marketing: Win the Home Selling Race
Are you looking to sell your home for the most money possible in today's fast-paced and competitive real estate market? Then you must consider pre-marketing strategies.
Why It's Alway About Supply And Demand In Real Estate
It's all about supply and demand. The real estate supply and demand dynamic tells us everything we need to know to forecast home sales in any given area.
Home Selling Tip: Don't Price Your Home On The 9s!
One of the most important steps in your marketing strategy when selling a home is setting the initial asking price for the home. While I have discussed this in previous videos, today I’m going to discuss a technique that I refer to as pricing on the 9s. It works to reduce the buyer pool for the home seller and reduce’s the seller’s chances of getting top dollar for the home. It is a terrible tactic and works against the seller. If you watch this short video, you’ll understand exactly why it hurts home selle
Home Staging Advice For Sellers
Do you wonder how to net more money selling your home? This is one of my top home selling tips. Today's video is everything you need to know about staging your home in order to NET the most money from your sale. ?? Here's a link to our FREE Home Sellers Checklist mentioned in the video: https://www.tallahasseechecklist.com/home-seller-checklist-downloadzh61xghm
Why Use A Buyer's Agent For New Construction?
Why Use A Buyer's Agent For New Construction? - I was recently asked about the benefits of having a buyers agent for new construction. Specifically, she asked why she should use a buyer's agent for new construction? My short answer is that you should always hire a well-trained advocate to help you buy any real estate, including new construction homes. This video though will specifically address several benefits of having your own advocate when purchasing a brand new home, whether it has already been built
Don't Buy A Home Without Seeing This First!
If you plan to buy a home now or in the next few months, let me tell you about a critical document that you absolutely must get from the seller before you start spending any money on inspections or repairs. The document that I’m addressing is the SELLERS PROPERTY DISCLOSURE, and you should not just HOPE that the seller will include it in the marketing documents. Instead, demand to see this document with a current signature and date from the seller on the day the contract is executed. As you will discover in
Are you a NIMBY or a YIMBY?
Two terms have gained prominence over the past few years. NIMBY (Not In My Back Yard) and YIMBY (Yes, In My Back Yard) are labels that classify housing market activists into one of two camps
What Is The Definition Of Distressed Property?
What Is The Definition Of Distressed Property? I received this question from "Rich" who asked: Joe, what is your definition of a "Distressed Property" - foreclosure, disrepair, time on market, location? That's a great question because we have a ton of people who have registered to receive our regularly updated list of distressed properties for sale in Tallahassee, so I know the topic is very popular today. In fact, it’s not uncommon for people just entering the market to buy a home to be focused on distress
Four Smart Ways To Use A Real Estate Contract Assignment
Contract assignability allows buyers to give or sell their rights to another buyer, and that creates opportunity. Tune in to discover four reasons to assign a real estate contract (including contract assignment profits)
How HGTV Is Like Meth For Homebuyers
This is what I have observed regarding the HGTV impact on buying a home and selling a home.
Housing - Do You Follow Your Gut (Or Analytics) In Housing?
I think the signs in the housing market are loud and clear, yet most real estate reports I read or view are missing the most critical factor in housing today.
Selling A Home In A Strong Sellers Market | AVOID This MISTAKE!
If you are getting ready to sell a home, you must avoid making a horrible mistake that I'm seeing every single day. As we continue in the midst of the strongest seller's market on record, one might assume that a home seller can do no wrong.
What Is Pre Marketing In Real Estate When Selling A Home?
What is pre-marketing in real estate when selling a home? When your home hits the market and it "goes live," how many buyers will be standing in line to get in? Will it look like an Apple store on the day the new iPhone is released? If not, why not? ... it's all in the video ??????
How To Determine The Value Of A Home With An Enclosed Garage
What is an enclosed garage worth? The evaluation is not always simple. There are many things that go into deciding how much extra value it adds.
Market Equilibrium, How The Balance Has Changed In Real Estate
The way we estimate housing market equilibrium has changed, and with it, the way the market is evaluated must change.
Who is responsible for determining the value of the home you want to buy?
If you are planning on buying a home now, or within the next three to six months, you are going to have all sorts of questions pop up for which you’ll want answers. Among the most important of these will have to do with figuring out what a home is worth. As a matter of fact, I was recently asked this question “Who is primarily responsible for determining the market value of the home you want to buy?” Questions about valuation are very common from buyers of all experience levels because nobody wants to overp
Need To Move? Buying vs. Renting Today
Wondering whether to buy a house or rent a house in 2022? I have created a simple real estate case study to help you make your next move confidently
How Often Do Home Prices Fall?
Are home prices falling? Will house prices fall soon? Home prices are soaring, buyers are having to pay above most sellers' asking prices, and the housing market feels just like a feeding frenzy during Shark Week on the Discovery Channel.
How The Fed Funds Rate Impacts Mortgage Interest Rates
Concerned about mortgage rates? This video shows the history of the fed funds rate and mortgage interest rates to see if a correlation exists that we can use for a real estate forecast.
Will Assumable Mortgages Save Housing?
Will assumable mortgages save housing? Home affordability is becoming one of the hottest topics in the economy, but I was recently asked if assumable mortgages might bring some relief to homebuyers. This video shares what I think about how mortgage assumption will impact housing.
Real Estate Negotiation Strategies For Each Market Condition
If you mishandle the negotiation on a home, several things will possibly happen, and all of them are bad. First and foremost, you’ll leave money on the table through either the sales price or the terms that are negotiated. Today, buyers are losing out on homes they want to buy and it’s often due to poor positioning in the negotiation. And while we are in the midst of a historic sellers’ market, I’m seeing sellers leave money on the table even when they have multiple offers! #realestatenegotiation #homenegot
How Much Should You Put Down On A House?
Need some downpayment advice? Want to know what to put down on a house? There are issues you might not have considered when determining a home down payment, but my home buying tips include a side-by-side comparison of some options that will help you make the best decision.
How To Get A Good Deal On A Home
Watch this short video before you buy a house to ensure you know whether to buy a home now or wait! This is the smart way to get a good deal on a house today.
Selling A Home In 2022? The Most Important Question You Must Ask
There is one singular issue that stands above all others when selling a home in a strong sellers' market. In this video, I walk you through the question and best answer to the most important question you should ask when selling a home.
Is Home Ownership A Hedge Against Inflation?
Could homeownership today still be a smart hedge against inflation? This is a study of real estate during inflation.
10 Home Inspection Issues And Tips
Moving from one home to another has enough stress and chaos built into the entire affair, and the home inspection is often the biggest stressor. Here's how to avoid home inspection stress!
What Do Low Mortgage Interest Rates Really Mean?
Every article or video about mortgage interest rates conveys that rates are low, but do you really know what it means?
Real Estate Appraisal Versus Fair Market Value Of A Home?
What is the difference between a real estate appraisal and the fair market value of a home? If there is one practice that confounds both home buyers and home sellers alike it's the fact that the majority of real estate transactions close at the mercy of an appraisal conducted for a purpose that most consumers do not consider. Understanding these differences will save you money when it comes to buying or selling a home, and it will help you appreciate the need and value of a real estate appraisal. But here’s
Top 7 Ways To Market Your Home For Sale Using Technology
Technology has opened up a world of possibilities for homeowners looking to market their property and attract potential buyers. In this video, we'll be sharing the top 7 ways to use technology to market your home for sale.
What You Should Know About School Zones When Buying A Home
What You Should Know About School Zones When Buying A Home - Buyers always ask about school zones, even when they do not have school-aged children. They understand that homes in the highest-rated school zones often fetch the most money, so they believe they are putting themselves in the best position for a future sale by purchasing a home in an acceptable school zone today. Unfortunately, this logic is flawed. If you are buying a home with no need for a school yet plan on including your opinion of the publi
Buy A Home Now Or Wait For 2023?
Are Home Prices Dropping? Will Rising Mortgage Interest Rates Bring Falling Home Prices? If you have been waiting for falling home prices, this is a very important video for you. Do you buy a home now or wait for 2023?
What Is A Real Estate Hot Sheet?
What Is A Real Estate Hotsheet? - When agents are new to the real estate industry, they are trained to monitor the " MLS Hot Sheet" every morning in order to stay informed of the inventory changes. So what is a real estate hot sheet, and can non-Realtors get access to it? ?? Link to the current real estate Hot Sheet: https://www.TallahasseeHotSheet.com Up until now, the hot sheet was proprietary information only available to paid members of the MLS. But recognizing that inventory is so low in the Tallahass
Ugly Real Estate Listing Pictures | Real Estate Photography Tips
I’ve got some funny, ugly real estate listing pictures to share with you today, along with some simple real estate photography tips. Take a humorous look at some of the WORST pictures I have seen used when marketing a home ... not the way to sell your house!
How To Sell A Home That Needs Repairs
How To Sell A Home That Needs Repairs - If you want to know how to sell a fixer upper house fast, then there are some fundamentals of selling a fixer-upper that you should understand. Ideally, in real estate sales, when selling a home, you should bring a house to market-condition before you sell your house fast in order to attain top dollar during the sale. But ideal situations are not always possible. If you follow the tips and advice in this video, you will know how to sell a fixer-upper house fast and in
First Right Of Refusal Meaning Explained
What is a right of first refusal? What does first right of refusal mean when dealing with a real estate contract? Accepting real estate contingencies without understanding them often causes home sellers problems. I have shared a real-world example of how we handled a first right of refusal real estate contract negotiation, and the decision-making process used to put the home seller in the best situation possible. Pay close attention to this short video and you’ll have a better understanding of the right to
What Does A Transaction Coordinator Do?
When you are selling a home or buying a home, a critical member of your support team is your transaction coordinator. Here's what to expect!
What Is A Seller's Market In Real Estate?
You might have heard that we have a huge seller’s market right now in real estate. Do you know what that means? This real estate frequently asked question comes up from time to time when somebody is buying a home or selling a home. They want to know if its a buyer’s market or a seller’s market. Is now a good time to buy a home in the Tallahassee real estate market? I have prepared this short video to demonstrate the conditions that make this a seller’s market, and then we’ll show you the numbers and how we
How Much Margin For Negotiation Should I Include In My Asking Price?
I was recently asked "How much margin for negotiation should I include in my asking price?" This is a common question from experienced home sellers. They have sold homes in the past and understand the negotiation process involves a game of give and take, so doesn’t it make good sense to start with a little wiggle room in your price so that you can give it to the buyer to secure a sale? Here's what you should know. I explain EXACTLY how much margin for negotiation you should add to the price of your home t
How Long Does It Take To Sell A Home In 2021?
How long does it take a home to sell in 2021? I've been asked this question a lot recently, and it made me realize a full explanation was in order. Why? Because if you understood how to sell a home for top dollar, you would know that it is a trick question. Trust me on this. Invest the few minutes it takes to watch the video and you'll have a better understanding of selling a home than do most people in the real estate industry (and I'll prove it!).
20 Percent Down On A Home?
Learn how to decide how much you should put down on a house. Here is some down payment advice that might help you keep some cash in your pocket.
How Many Times Will A Home Seller Counter Offer?
This real estate frequently asked question is from a recent home buyer. If you are about to buy a home in Tallahassee Florida or beyond and you’re trying to better understand how the real estate negotiation process will work, then understanding how to better control the negotiation is going to keep some of your hard-earned money in your pocket!
Real Estate Is Local - What This Means!
If you plan on buying a home, or selling a home, you’ll want to understand the local nature of real estate and use it to your advantage.
5 Ways To Handle The House In A Divorce
If there is one thing that I see divorcing couples doing wrong more often than not, it is the decision on how to handle the house where the couple has lived. While I am not a lawyer and I'm not dispensing legal advice, take it from somebody who has helped hundreds of divorcing couples, there is a right way (and FOUR wrong ways) to handle the house in a divorce. Tell your attorney that you want to do it right!
What Is A Swimming Pool Worth?
What Is A Swimming Pool Worth? Recently, a customer buying a home asked me a simple question. She inquired “how much does a pool add to the value of a home?” Pretty simple question, right? Well, by the end of this short video, you’ll know the not-so-simple answer (and why this is so important).
How Digital Has Changed How We Sell A Home Today
Time to sell a home? The digital age has had a huge impact on what homeowners must do to get top dollar when selling their home. In this video, Joe Manausa explains why and how things have changed, and then lays out the plan for what home sellers must do.
How To Subscribe To The Joe Manausa Real Estate Channel On YouTube
Have you subscribed to the Joe Manausa Real Estate Channel on YouTube? It's a "must" for people who are planning to sell or buy a home in the near future. Just click subscribe to get started, and the bell icon, so that you never miss anything!
How To Buy Your First Home - Step By Step
How To Buy Your First Home - Step By Step - The home buying process from start to finish. Walkthrough the entire homebuying process, great for first time homebuyers and anyone buying a home this year. This is Home Buying 101.
Get More Money For Your Home
In order to understand how to get more money from a house sale, one must learn about the neighborhood stalker.
Are Wages Keeping Up With Rising Home Prices
Home prices are rising. Mortgage interest rates are rising. Are people earning enough money to buy homes today, or is the home affordability crisis getting worse?
How To Use Price Per Square Foot When Valuing A Home
Price per square foot is a measurement of a home's value, but the price per square foot alone is not an effective way to determine the price a home will sell in today's housing market.

In today's report, we will review the biggest bogus statistic routinely quoted by real estate agents (and real estate web reporters too). As I address today's issue, please give me some time to explain. I have found people to be somewhat defensive of these beliefs, but those who take in this entire article will come around to a new understanding of an important issue and why it persists today:

How Long Does It Take To Sell A House?

Let's start with a graph from real estate giant Redfin. Redfin, a publicly traded real estate portal that produces some of the timeliest real estate market data, allows visitors to view local and national housing market data.

a graph from real estate portal giant Redfin: How Long Does It Take To Sell A House?

This graph plots the median days on the market nationally and in some local markets. We want to focus on the national time on the market (red line) and the Tallahassee time on the market.

The reason that Tallahassee is important is that I have the local data from Tallahassee that Redfin uses to calculate the median market time for homes sold in Tallahassee. Unlike Redfin, I've meticulously picked through the data for accuracy and created the graph below with the "real" time on the market in Tallahassee.

graph shows audited time on the market graph for local real estate market

As you can see, my graph reports a different median time on the market than the one Redfin produced. In fact, the accurate measurement of market time typically shows several more months than what MLS reports advise.

In the next few paragraphs, I will explain two very important points that we can learn from the opposing views on market time. First, Redfin knowingly continues to report incorrect conclusions; and second, market-time measurements no longer matter (meaning the concept of market time is no longer valid).

Market Time Is Under-Reported

The graph above was painstakingly assembled after hundreds of hours of data scrubbing in order to accurately measure the median time on the market for home sellers (which is the mathematical answer to the question "how long does it take to sell a home today?"  Here's what you need to know:

Garbage In = Garbage Out.

That's one of the first lessons I picked up as I pursued my undergraduate degree in computer science at West Point. Computers might be able to answer any question, but if you give them bogus data, they will respond with faulty conclusions.

Here's an example of how market time gets discombobulated within the MLS systems.

Agent "Mary" tells home sellers that her average market time is 17 days. She can pull a report from the Tallahassee MLS and sure enough, it shows that, on average, Mary takes 17 days to sell a home. But I know better (and so should Redfin).

Mary wants her statistics to tell a different story than her actions reveal. Mary routinely cancels her listings every week and then creates new versions of the same listings. This "resets" the market time to zero days, and Mary tells her home sellers that buyers will think the listing is brand new and thus want to see it. In reality, buyers are not stupid; they pay very close attention to the market when they are ready to make a purchase. Mary doesn't want her market time statistics to show the actual months and years she often takes to sell a home.

Now, in this example, imagine that half of the real estate agents in the Tallahassee MLS do something similar to Mary, manipulating the market time on their listings by canceling and restarting listings. How do we track true market time accurately?

For MLSs and Redfin, market time is tracked as the number of days it took a home to sell from the final new listing entry created by the listing agent.

All the days from the canceled listings are not counted. Thus, Redfin and MLS reports on market time are entirely garbage.

On top of the deliberate manipulation, roughly 1/3rd of all listings sold in the MLS are homes that used to be listed with another real estate company. The listings typically were active for six months. So let's go back to our example with Agent Mary. Before Mary listed the property, it had been listed by Agent Bob for six months but had failed to sell. The seller fired Agent Bob and hired Agent Mary. All the time on the market with Agent Bob never is considered for market time. 

Let's say that Mary sold a home in month number four (and that's after six months with Agent Bob). If Mary cancels the listing after getting an offer and then puts in the new listing and immediately marks it as under contract, the ten months (or 300 days) of market time is recorded as zero days in the MLS. Wouldn't you think a proper market time formula would include all days the home had been listed for sale?

Nobody, including my graph above, counts the days on the market for homes that failed to sell. And I'm the only real estate professional I'm aware of tracking market time by fixing the listing date on the final listing entry.

Now you understand why a Redfin Median Days On Market Report shows Tallahassee has dropped from over 150 days of market time down to about 60 days, but our audited report using actual listing and contract dates shows more than 200 days improving to about 50 days for "fresh" sellers (those that sold with their first listing broker) and over 600 days down to about 100 days for "Relisted" sellers (and remember, there were 180 days with at least one broker prior).

Today's market time could be estimated as (50 X 2/3rds + (100+180 ) X 1/3) = 127 days as the median market time in Tallahassee (roughly double the number the Redfin report states). So we know that Redfin is way off in Tallahassee, don't you think they're dealing with similar accountability issues in other markets?

If you are employed by a major data portal such as Redfin and have completed basic math courses in college, you probably recognize that market time data has been altered and should not be shared by Redfin as valid market feedback. This is also true for real estate agents who assign importance to market time measurements.

Now that you understand how garbage in = garbage out in market time measurement, I think this might surprise you:

It doesn't matter anyway!

6 Tips For Selling A Home In 2022
This ain't your grandpa's real estate market, the process for selling a home and getting top dollar have changed so much. It starts with knowing the best way to sell your house. There are home selling tips and tricks you can use.
Top 7 Ways To Market Your Home For Sale Using Technology
Technology has opened up a world of possibilities for homeowners looking to market their property and attract potential buyers. In this video, we'll be sharing the top 7 ways to use technology to market your home for sale.
Your Home Failed To Sell, Now What?
What to do if your home failed to sell. When your "selling a home process" fails, it's time to start thinking about what to do next.
7 Critical Stages In Selling Your Home
The process for selling a home has changed greatly since the world went digital, but now after a historic sellers' market, today's home selling plan requires adjustments compared to the last few years.
Pre-Marketing: Win the Home Selling Race
Are you looking to sell your home for the most money possible in today's fast-paced and competitive real estate market? Then you must consider pre-marketing strategies.
Selling A Home In A Strong Sellers Market | AVOID This MISTAKE!
If you are getting ready to sell a home, you must avoid making a horrible mistake that I'm seeing every single day. As we continue in the midst of the strongest seller's market on record, one might assume that a home seller can do no wrong.
How To Use Price Per Square Foot When Valuing A Home
Price per square foot is a measurement of a home's value, but the price per square foot alone is not an effective way to determine the price a home will sell in today's housing market.
Biggest Change In Selling A Home Since The Printing Press
Here is the biggest change in selling a home since the printing press was invented. Looking for selling a home process? This is the must-do process to sell a home.
Selling A Home In 2022? The Most Important Question You Must Ask
There is one singular issue that stands above all others when selling a home in a strong sellers' market. In this video, I walk you through the question and best answer to the most important question you should ask when selling a home.
Get More Money For Your Home
In order to understand how to get more money from a house sale, one must learn about the neighborhood stalker.
Real Estate Negotiation Strategies For Each Market Condition
If you mishandle the negotiation on a home, several things will possibly happen, and all of them are bad. First and foremost, you’ll leave money on the table through either the sales price or the terms that are negotiated. Today, buyers are losing out on homes they want to buy and it’s often due to poor positioning in the negotiation. And while we are in the midst of a historic sellers’ market, I’m seeing sellers leave money on the table even when they have multiple offers! #realestatenegotiation #homenegot
Home Selling Tip: Don't Price Your Home On The 9s!
One of the most important steps in your marketing strategy when selling a home is setting the initial asking price for the home. While I have discussed this in previous videos, today I’m going to discuss a technique that I refer to as pricing on the 9s. It works to reduce the buyer pool for the home seller and reduce’s the seller’s chances of getting top dollar for the home. It is a terrible tactic and works against the seller. If you watch this short video, you’ll understand exactly why it hurts home selle
How Much Margin For Negotiation Should I Include In My Asking Price?
I was recently asked "How much margin for negotiation should I include in my asking price?" This is a common question from experienced home sellers. They have sold homes in the past and understand the negotiation process involves a game of give and take, so doesn’t it make good sense to start with a little wiggle room in your price so that you can give it to the buyer to secure a sale? Here's what you should know. I explain EXACTLY how much margin for negotiation you should add to the price of your home t
10 Home Inspection Issues And Tips
Moving from one home to another has enough stress and chaos built into the entire affair, and the home inspection is often the biggest stressor. Here's how to avoid home inspection stress!
Home Staging Advice For Sellers
Do you wonder how to net more money selling your home? This is one of my top home selling tips. Today's video is everything you need to know about staging your home in order to NET the most money from your sale. ?? Here's a link to our FREE Home Sellers Checklist mentioned in the video: https://www.tallahasseechecklist.com/home-seller-checklist-downloadzh61xghm
What Does A Transaction Coordinator Do?
When you are selling a home or buying a home, a critical member of your support team is your transaction coordinator. Here's what to expect!
Real Estate Appraisal Versus Fair Market Value Of A Home?
What is the difference between a real estate appraisal and the fair market value of a home? If there is one practice that confounds both home buyers and home sellers alike it's the fact that the majority of real estate transactions close at the mercy of an appraisal conducted for a purpose that most consumers do not consider. Understanding these differences will save you money when it comes to buying or selling a home, and it will help you appreciate the need and value of a real estate appraisal. But here’s
First Right Of Refusal Meaning Explained
What is a right of first refusal? What does first right of refusal mean when dealing with a real estate contract? Accepting real estate contingencies without understanding them often causes home sellers problems. I have shared a real-world example of how we handled a first right of refusal real estate contract negotiation, and the decision-making process used to put the home seller in the best situation possible. Pay close attention to this short video and you’ll have a better understanding of the right to
Why It's Alway About Supply And Demand In Real Estate
It's all about supply and demand. The real estate supply and demand dynamic tells us everything we need to know to forecast home sales in any given area.
How To Sell A Home That Needs Repairs
How To Sell A Home That Needs Repairs - If you want to know how to sell a fixer upper house fast, then there are some fundamentals of selling a fixer-upper that you should understand. Ideally, in real estate sales, when selling a home, you should bring a house to market-condition before you sell your house fast in order to attain top dollar during the sale. But ideal situations are not always possible. If you follow the tips and advice in this video, you will know how to sell a fixer-upper house fast and in
What Is Pre Marketing In Real Estate When Selling A Home?
What is pre-marketing in real estate when selling a home? When your home hits the market and it "goes live," how many buyers will be standing in line to get in? Will it look like an Apple store on the day the new iPhone is released? If not, why not? ... it's all in the video ??????
What Is A Seller's Market In Real Estate?
You might have heard that we have a huge seller’s market right now in real estate. Do you know what that means? This real estate frequently asked question comes up from time to time when somebody is buying a home or selling a home. They want to know if its a buyer’s market or a seller’s market. Is now a good time to buy a home in the Tallahassee real estate market? I have prepared this short video to demonstrate the conditions that make this a seller’s market, and then we’ll show you the numbers and how we
How Digital Has Changed How We Sell A Home Today
Time to sell a home? The digital age has had a huge impact on what homeowners must do to get top dollar when selling their home. In this video, Joe Manausa explains why and how things have changed, and then lays out the plan for what home sellers must do.
5 Ways To Handle The House In A Divorce
If there is one thing that I see divorcing couples doing wrong more often than not, it is the decision on how to handle the house where the couple has lived. While I am not a lawyer and I'm not dispensing legal advice, take it from somebody who has helped hundreds of divorcing couples, there is a right way (and FOUR wrong ways) to handle the house in a divorce. Tell your attorney that you want to do it right!
Four Smart Ways To Use A Real Estate Contract Assignment
Contract assignability allows buyers to give or sell their rights to another buyer, and that creates opportunity. Tune in to discover four reasons to assign a real estate contract (including contract assignment profits)
Ugly Real Estate Listing Pictures | Real Estate Photography Tips
I’ve got some funny, ugly real estate listing pictures to share with you today, along with some simple real estate photography tips. Take a humorous look at some of the WORST pictures I have seen used when marketing a home ... not the way to sell your house!
How Long Does It Take To Sell A Home In 2021?
How long does it take a home to sell in 2021? I've been asked this question a lot recently, and it made me realize a full explanation was in order. Why? Because if you understood how to sell a home for top dollar, you would know that it is a trick question. Trust me on this. Invest the few minutes it takes to watch the video and you'll have a better understanding of selling a home than do most people in the real estate industry (and I'll prove it!).
What Is A Swimming Pool Worth?
What Is A Swimming Pool Worth? Recently, a customer buying a home asked me a simple question. She inquired “how much does a pool add to the value of a home?” Pretty simple question, right? Well, by the end of this short video, you’ll know the not-so-simple answer (and why this is so important).
Real Estate Is Local - What This Means!
If you plan on buying a home, or selling a home, you’ll want to understand the local nature of real estate and use it to your advantage.
How HGTV Is Like Meth For Homebuyers
This is what I have observed regarding the HGTV impact on buying a home and selling a home.

Market Time Is Bogus

Indeed, the concept of market time has become outdated since the world transitioned to digital platforms.

Before the internet of things, legitimate bottlenecks and time factors created a real market time worth measuring. Market time was the number of days it took for listings to reach most of their buyer pools.

There was a lot of work processing a listing for marketing, which is much easier today. We had to measure a home and take pictures to be used in marketing. Film needed to be developed, and ad copy needed to be created and mailed to a publisher. If a new listing hit the market a day after a publication deadline, it could be two months before a home hit the market.

This means that we had this period of time (market time or time on the market) where the home was available, and yet we had not reached the majority of buyers who might be interested in the home. So what did we do?

We explained to home sellers that we needed roughly 60 days on the market to reach all buyers. Most agents just listed the property at a price a little higher than its value and then, after 60 days, lowered the price until the home was sold. This allowed the home to be distributed to its entire buyer pool, and the seller did not get aggressive until the home was completely distributed.

Today, that 60-day window to reach the majority of buyers for a home is now less than four days. We can take pictures with a phone and upload them into the MLS immediately. The MLS distributes the listings through an IDX feed to major real estate websites in a matter of hours or days, so publishing deadlines are no longer the major bottleneck in the marketing process.

Market time is a bogus, useless statistic because it lost relevance once marketing systems went digital. And this begs an important question for you, dear reader:

Now that you understand the real deal on market time, how should you react when you interview a real estate agent to sell your home and the agent spends time explaining market time to you? You have to wonder ....

Is the agent unaware that marketing systems have gone digital? Does the agent plan to publish your home in the newspaper after their film is developed?

Or are they using manipulated data to impress you with a garbage statistic they think you do not understand?

Or, are they just lazy, not having kept up with the minor and major changes in the housing market?

Regardless of your answer, should any of these behaviors be listed among those you wish your agent to display? Do you want an ignorant agent? A dishonest agent? Or a lazy agent? I hope not, you'll be competing in a housing market where some of the other buyers and sellers have wisely armed themselves with well-trained, honorable agents.

Most home sellers and home buyers alike do not realize their agent selection is important until negotiations get underway. That's when sellers and buyers ask the agent for important guidance.

When it is time to seek this guidance, ensure you have hired a real estate agent who has not won your business with trumped-up bogus statistics that became invalid nearly 20 years ago! Stick with a modern, honest, hard-working real estate agent, and you'll likely be better off after buying or selling a home.

9 Tips For Buying A Home In A Bidding War
Follow these 9 home buying tips to get your offer approved ahead of other buyers. These 9 tips for buying a home today will help you overcome multiple offers on a home.
Buy A Home Now Or Wait For 2023?
Are Home Prices Dropping? Will Rising Mortgage Interest Rates Bring Falling Home Prices? If you have been waiting for falling home prices, this is a very important video for you. Do you buy a home now or wait for 2023?
How To Get A Good Deal On A Home
Watch this short video before you buy a house to ensure you know whether to buy a home now or wait! This is the smart way to get a good deal on a house today.
Don't Lose Your Real Estate Contract Binder Deposit
As you prepare to buy a home, you'll want to follow this advice for home buyers. These real estate tips will help you ensure your real estate contract binder deposit is not forfeited to the seller due to mistakes made along the way.
Should You Get A 40-Year Mortgage?
Before you decide upon a specific mortgage amortization on a home loan, take a look at this quick case study that compares a 15-year loan with a 30-year loan and a 40-year amortized loan.
What are closing costs when buying a home?
If you are planning to buy a home now, or in the next few months, there are some fees and expenses you’ll need to pay in addition to your down payment that you should know about. Other than your down payment, all money you spend when you buy a home are called “closing costs,” and you should know about them ahead of time. Even experienced buyers can be surprised at all the costs that are associated with buying a home today. This short video will cover what you need to know so that you can (one, be prepared,
How Much Should You Put Down On A House?
Need some downpayment advice? Want to know what to put down on a house? There are issues you might not have considered when determining a home down payment, but my home buying tips include a side-by-side comparison of some options that will help you make the best decision.
Don't Buy A Home Without Seeing This First!
If you plan to buy a home now or in the next few months, let me tell you about a critical document that you absolutely must get from the seller before you start spending any money on inspections or repairs. The document that I’m addressing is the SELLERS PROPERTY DISCLOSURE, and you should not just HOPE that the seller will include it in the marketing documents. Instead, demand to see this document with a current signature and date from the seller on the day the contract is executed. As you will discover in
10 Mistakes Homebuyers Make In The Home Mortgage Process
10 Mistakes Homebuyers Make In The Home Mortgage Process | Home Buyer Tips - If you are getting ready to buy a home and you are financing your purchase, I am going to cover a list of ten things you are going to want to avoid until after you have closed on your home. The home mortgage process is very structured, loaded with rules and guidelines that you must follow in order to be approved. Remember, a bank is going to lend you hundreds of thousands of dollars, so it's not too shocking that they want you to f
Need To Move? Buying vs. Renting Today
Wondering whether to buy a house or rent a house in 2022? I have created a simple real estate case study to help you make your next move confidently
Is Home Ownership A Hedge Against Inflation?
Could homeownership today still be a smart hedge against inflation? This is a study of real estate during inflation.
How To Buy Your First Home - Step By Step
How To Buy Your First Home - Step By Step - The home buying process from start to finish. Walkthrough the entire homebuying process, great for first time homebuyers and anyone buying a home this year. This is Home Buying 101.
How Often Do Home Prices Fall?
Are home prices falling? Will house prices fall soon? Home prices are soaring, buyers are having to pay above most sellers' asking prices, and the housing market feels just like a feeding frenzy during Shark Week on the Discovery Channel.
How To Use Price Per Square Foot When Valuing A Home
Price per square foot is a measurement of a home's value, but the price per square foot alone is not an effective way to determine the price a home will sell in today's housing market.
What To Offer On A Home In A Sellers Market
We are experiencing the strongest seller's market on record, so you have to be prepared to make the right kind of offer if you want to buy a home today. And it's not all just about how much to offer, there is so much involved when making the "RIGHT" offer in a seller's market. I have shared my experience of selling thousands of homes in a seller's market, both with working for buyers and with working for sellers. I have shared 3 important home buying tips to enlighten you on what matters most to sellers so
Why It's Alway About Supply And Demand In Real Estate
It's all about supply and demand. The real estate supply and demand dynamic tells us everything we need to know to forecast home sales in any given area.
Top 10 Tallahassee Neighborhoods
If you want to know where homebuyers chose to live in 2021, then this video was produced specifically for you. Follow along as I share the top-ten selling communities in Tallahassee in 2021, with insight on what it costs to live in each neighborhood as well as the number of homes that sold.
10 Home Inspection Issues And Tips
Moving from one home to another has enough stress and chaos built into the entire affair, and the home inspection is often the biggest stressor. Here's how to avoid home inspection stress!
Real Estate Negotiation Strategies For Each Market Condition
If you mishandle the negotiation on a home, several things will possibly happen, and all of them are bad. First and foremost, you’ll leave money on the table through either the sales price or the terms that are negotiated. Today, buyers are losing out on homes they want to buy and it’s often due to poor positioning in the negotiation. And while we are in the midst of a historic sellers’ market, I’m seeing sellers leave money on the table even when they have multiple offers! #realestatenegotiation #homenegot
Four Smart Ways To Use A Real Estate Contract Assignment
Contract assignability allows buyers to give or sell their rights to another buyer, and that creates opportunity. Tune in to discover four reasons to assign a real estate contract (including contract assignment profits)
What Does A Transaction Coordinator Do?
When you are selling a home or buying a home, a critical member of your support team is your transaction coordinator. Here's what to expect!
Real Estate Appraisal Versus Fair Market Value Of A Home?
What is the difference between a real estate appraisal and the fair market value of a home? If there is one practice that confounds both home buyers and home sellers alike it's the fact that the majority of real estate transactions close at the mercy of an appraisal conducted for a purpose that most consumers do not consider. Understanding these differences will save you money when it comes to buying or selling a home, and it will help you appreciate the need and value of a real estate appraisal. But here’s
What Is A Real Estate Hot Sheet?
What Is A Real Estate Hotsheet? - When agents are new to the real estate industry, they are trained to monitor the " MLS Hot Sheet" every morning in order to stay informed of the inventory changes. So what is a real estate hot sheet, and can non-Realtors get access to it? ?? Link to the current real estate Hot Sheet: https://www.TallahasseeHotSheet.com Up until now, the hot sheet was proprietary information only available to paid members of the MLS. But recognizing that inventory is so low in the Tallahass
Who is responsible for determining the value of the home you want to buy?
If you are planning on buying a home now, or within the next three to six months, you are going to have all sorts of questions pop up for which you’ll want answers. Among the most important of these will have to do with figuring out what a home is worth. As a matter of fact, I was recently asked this question “Who is primarily responsible for determining the market value of the home you want to buy?” Questions about valuation are very common from buyers of all experience levels because nobody wants to overp
What Is The Definition Of Distressed Property?
What Is The Definition Of Distressed Property? I received this question from "Rich" who asked: Joe, what is your definition of a "Distressed Property" - foreclosure, disrepair, time on market, location? That's a great question because we have a ton of people who have registered to receive our regularly updated list of distressed properties for sale in Tallahassee, so I know the topic is very popular today. In fact, it’s not uncommon for people just entering the market to buy a home to be focused on distress
Why Use A Buyer's Agent For New Construction?
Why Use A Buyer's Agent For New Construction? - I was recently asked about the benefits of having a buyers agent for new construction. Specifically, she asked why she should use a buyer's agent for new construction? My short answer is that you should always hire a well-trained advocate to help you buy any real estate, including new construction homes. This video though will specifically address several benefits of having your own advocate when purchasing a brand new home, whether it has already been built
What Is A Seller's Market In Real Estate?
You might have heard that we have a huge seller’s market right now in real estate. Do you know what that means? This real estate frequently asked question comes up from time to time when somebody is buying a home or selling a home. They want to know if its a buyer’s market or a seller’s market. Is now a good time to buy a home in the Tallahassee real estate market? I have prepared this short video to demonstrate the conditions that make this a seller’s market, and then we’ll show you the numbers and how we
What Is A Swimming Pool Worth?
What Is A Swimming Pool Worth? Recently, a customer buying a home asked me a simple question. She inquired “how much does a pool add to the value of a home?” Pretty simple question, right? Well, by the end of this short video, you’ll know the not-so-simple answer (and why this is so important).
How Many Times Will A Home Seller Counter Offer?
This real estate frequently asked question is from a recent home buyer. If you are about to buy a home in Tallahassee Florida or beyond and you’re trying to better understand how the real estate negotiation process will work, then understanding how to better control the negotiation is going to keep some of your hard-earned money in your pocket!
What You Should Know About School Zones When Buying A Home
What You Should Know About School Zones When Buying A Home - Buyers always ask about school zones, even when they do not have school-aged children. They understand that homes in the highest-rated school zones often fetch the most money, so they believe they are putting themselves in the best position for a future sale by purchasing a home in an acceptable school zone today. Unfortunately, this logic is flawed. If you are buying a home with no need for a school yet plan on including your opinion of the publi
Real Estate Is Local - What This Means!
If you plan on buying a home, or selling a home, you’ll want to understand the local nature of real estate and use it to your advantage.
20 Percent Down On A Home?
Learn how to decide how much you should put down on a house. Here is some down payment advice that might help you keep some cash in your pocket.
How HGTV Is Like Meth For Homebuyers
This is what I have observed regarding the HGTV impact on buying a home and selling a home.

There are a lot of people who endorse Joe for the job of selling your home, from Barbara Corcoran (Star of ABC's Shark Tank) to Preston Scott (host of Tallahassee's top daily "Audio Magazine," as well as the thousands of happy customers Joe has helped in the past. Listen why!

Post a Comment

(850) 378-5727