Dean Graziosi Weekly Wisdom #217 - Seeking Investor Area Managers

I have spent the last 6 weeks researching the real estate trend in Palm Beach County, Florida. I have also had my realtor providing me with rental listings for 3BR/2BA single family properties, which I have viewed with him on-site. My efforts have resulted in the cities listed below showing more price decreases than price increases.

Thank you for suggesting this exercise, as it has reinstated to me the importance of knowing your market.

Location: Wellington, FL

Current Unemployment Rate: 7.52%; 12 months ago: 8.96%

Median 3BR/2BA Sales Price: $342,300

Average Rental Rate for a 3BR/2BA: $1,634

Average Taxes for a 3BR/2BA: $2,854

Average DOM: 116

_____________

Location: Palm Beach Gardens, FL

Current Unemployment Rate: 7.73%; 12 months ago: 9.44%

Median 3BR/2BA Sales Price: $137,970

Average Rental Rate for a 3BR/2BA: $1,059

Average Taxes for a 3BR/2BA: $1,096

Average DOM: 114

_____________

Location: Royal Palm Beach, FL

Current Unemployment Rate: 9.20%; 12 months ago: 9.60%

Median 3BR/2BA Sales Price: $175,000

Average Rental Rate for a 3BR/2BA: $1,377

Average Taxes for a 3BR/2BA: $1,728

Average DOM: 68

_____________

Location: Boynton Beach, FL

Current Unemployment Rate: 8.40%; 12 months ago: 10.78%

Median 3BR/2BA Sales Price: $159,000

Average Rental Rate for a 3BR/2BA: $1,250

Average Taxes for a 3BR/2BA: $1,429

Average DOM: 68

1. What city are you in?
a. Charleston, SC
i. Specifically - Mt. Pleasant, SC

2. What is the current unemployment rate and what was it 12 months ago?
a. Charleston, SC – December rate fell to 8.3%
a. January 2012 rate was 9.3% (seasonally adjusted)

3. What’s the current average cost of 3 bedroom house in your area?
a. Charleston, SC – $197.6K
b. Mt. Pleasant, SC - $292.7K
c. Summerville, SC – $137.4K
d. North Charleston, SC - $99.9K

4. What’s the average rent for that same house?
a. Charleston, SC - $1400
b. Mt. Pleasant, SC - $1600
c. Summerville, SC - $1240
d. North Charleston, SC - $1000

5. What are the average annual taxes for that property? (@ 4% Homestead Rate not Investment Rate 6%)
a. Charleston, SC - $864.66
b. Mt. Pleasant, SC - $1,018.00
c. Summerville, SC - $1,280.40
d. North Charleston, SC - $652.18

6. What are the current days on market? (2012)
a. Charleston, SC - 92 Traditional, 72 Foreclosure; 114 Short Sale;
b. Mt. Pleasant, SC – 79 Traditional, 63 Foreclosure; 103 Short Sale;
c. Summerville, SC – 82 Traditional; 69 Foreclosure; 118 Short Sale;
d. North Charleston, SC - 99 Traditional, 66 Foreclosure; 127 Short Sale;

1.What city are you in? Murfreesboro, TN.
2.What is the current unemployment rate and what was it 12 months ago? 5.3% and 6.5%
3.What’s the current average cost of 3 bedroom house in your area? $145,000.00.
4.What’s the average rent for that same house? $1,100.00.
5.What are the average annual taxes for that property? $1,100.00.
6.What are the current days on market? 60 days.

Derek Jensen
Colorado Springs, Co
Unemployment rate 9.2 / 12 months ago 10.0
Average cost of 3 bdr = $175,000
Average rent 3 bdr = $1250
Avg annual taxes = $1033
Avg days on market 90

We have 2 military bases as well here, great for rentals!!

1.Plymouth,Massachusetts 02360

2.Unemployment:
Current-6.1%, February 2012-8%

3.Average Cost 3bdrm home:
$305,000

4.Average monthly current rent:
$1800

5.Average annual taxes:
$4,000

6.Average DOM:
158

Thanks guys!
Happy and Prosperous 2013!:+]

Hey Dean...hope im not too late..
here is the information you asked for. Hope to hear from you.

1) Bremerton, Wa

2)Current unemployment rate- 6.1 %
12 months ago- 7.6 %

3)Average cost 3 bedroom - $255,600.00

4)Average Rent 3 bedroom - $1350.00

5)Average Taxes $3300.00

6)Current days on market- 150

Hello from St. Augustine Beach, FL

The Oldest city in the US...and I might add very beautiful!

I have been a recent student of your real estate investor course and am extactic about being able to start! Yesterday is too late! Your Motto, right?

I hope to be a chosen one, I know I can give Matt a run for his money:)

1) St. Augustine, FL
2) 6.5% from 8.3%
3) $150k
4) Average rent $ 1,700
5) 2,100 taxes
6) Days on Mkt 180+

St. Augustine has a lot to offer and a wide array of residents. We have locals, college students and lots of retirees! From property in the country to the beach!

I am a St. Augustinian and have seen the changes since birth. I have many resources to make this opprotunity a win win for us both.

Please look us up, I am sure you will want to be a part of such a lucerative area!

Also, I researched an area just west of our county...it has excellent opportunity as well.

I look forward to working with YOU!

El Cajon is a low to medium priced suburb of San Diego Ca. The economy is diverse with a large military presense, along with many universities and tech industries, which are the reasons that San Diego has had one of California's lowest unemployment rates over the last 3 years. SD County had 24,915 sales in 2012 with a median SP of $370,000.

I have used 3 bedroom/ 2 bth SFR homes in El Cajon and all 4 zip codes within the city for my research and comps. El Cajon had 51 sales of 3/2 homes from 7/1/2012 to 1/7/2012 ( 6 months).

1. Unemplyment rate for SD County 2012 - 8.6%
2011 - 9.8%

2. Aver. Cost 3/2 in EC $288,500
Cost pr sq ft $227.37

3. Aver Rent for 3/2 in EC $1775

4. Tax Rate for SD County is 1.15622 pr $1000
of valuation

5. Current Days on market 51

1. Unemployment rate in Lincoln, Nebraska
Oct. 2011 = 3.5%
Current = 3.2%

2. Averaget cost of 3 bedroom house
$130,000

3. Average rent for 3 bedroom house
$950

4. Average taxes for 3 bedroom house costing
$130,000 = $2350

5. Average DOM = 140 days

1. Minneapolis, MN
2. Current unemployment: 5.6%...1 year ago: 6.7%
3. Current avg price: $171,900
4. Current avg rent: $1500
5. Current avg taxes: $2400
6. Current avg DOM: 37

1. What city are you in? Everett, WA
2. What is the current unemployment rate and what was it 12 months ago?
Oct 2012 - 8%
Sept 2011 - 9.7%
3. What’s the current average cost of 3 bedroom house in your area?
$175,000
4. What’s the average rent for that same house?
$1,100
5. What are the average annual taxes for that property?
$2,400
6. What are the current days on market?
75 Days

1.Where do you live? Vergennes, VT

2.What is the unemployment rate?
Unemployment rate 5.2% down from 5.5%, But that is not quite right because a lot of peoples unemployment ran out.

3.What is the average cost of a 3 bedroom house? average cost is $180,000 and up most people will lower it to sell as the market hasn't been good.

4.average rent is 1,000 first month and 1000 last month

5.average taxes 3,960-4000 on lake.

6.average Days on Market 150-160

1.) Mountain View, California 94041

2.) 5.9% in Dec. '12, 7.5% in Dec. '11.

3.) Average cost runs about $600-$700 per square foot for a 3 bd.

4.) Average rent is $3,000 per month

5.) Annual property taxes are 1.25% of the purchase price.

6.) Typically is less than 30 days.
Can be as little as 1-2 days.
The market is always hot.

1. Unemployment rate: Oct. 2011 9.3% seasonally adjusted and 8.9% not seasonally adjusted
Oct. 2012 9.7% seasonally adjusted and 9.4 not seasonally adjusted

2. average price for 3 bedroom: $314,000

3. Average rent for 3 bedroom: $1,819

4. Taxes: $5,210

5. Average days on market: couldn't get only 3 bedrooms, so for all homes it is 159 days

I want to be your area manager sooo bad!

1. Everett, WA
2. UnEm. Rate 10/12 = 8% 04/12=7.8%
3. Avg. Cost of 3brm = 189,160 ($116)per sq foot
4. Avg. Rent = $1,300
5. Avg. Taxes = $3,000
6. Avg. D.O.M. = 55 days

1.) Topeka Kansas
2.) The unemployment is 6.2% 12 mo. ago 7.0%
3.) Average cost of 3 bedroom is $140,000
4.) Average rent of a 3 bedroom is $750 per mo.
5.) Average taxes is $2,100 per year
6.) The days on marke is 120 on average

1. El Dorado Hills, CA is part of the Sacramento MSA (El Dorado, Placer, Sacramento, and Yolo counties).

2. Current UE is 9.8%; last year was 11.1%.

3. Average price is $181,300; year change is 8.8%.

4. Average rent is $1,300.

5. Average taxes are $2,500.

6. Current days on market are 65.

1. City - Leominster, MA
2. Current Unemployment - 8%, Jan. 2012 - 10.1%
3. Average Cost of 3 bedroom - $180,779
4. Average Rent for 3 bedroom - $1400
5. Current Tax Rate - 17.96/1000
6. Average DOM - 117

1. City - Fitchburg, MA
2. Current Unemployment - 8%, Jan. 2012 - 10.0%
3. Average Cost of 3 bedroom - $106,465
4. Average Rent for 3 bedroom - $950
5. Current Tax Rate - 19.05/1000
6. Average DOM - 158

1. City - Worcester, MA
2. Current Unemployment - 6.6%, Jan.2012 - 8.1%
3. Average Cost of 3 bedroom - $156,000
4. Average Rent for 3 bedroom - $1550
5. Current Tax Rate - 18.58/1000
6. Average DOM - 99

1. City - Ayer, MA
2. Current Unemployment - 5.8%, Jan. 2012 - 6.0
3. Average Cost of 3 bedroom - $216,250
4. Average Rent for 3 bedroom - $1450
5. Current Tax Rate - 13.63/1000
6. Average DOM - 167

Hello

I am doing extremely well in the Clearwater/St Pete suburbs of Seminole/Largo/Palm Harbor

unemployment (every resource I check seems to have different numbers, but all show improvements over the last 12 months; typical is as listed homefacts.com 9.6% 1/12 8.4% 9/12

Avg cost of 3 bedroom 120K -160K

Avg rents 1200-1600/month (more if pool home)

Taxes 1200-2200/yr

Current DOM (wish was longer) 36 days; but I am still finding amazing deals that work extremely well for buy and hold investors

Dean. What an opportunity to be part of your team. I have learned so much from you all ready.
Thanks

Philip Lucara

Here are the six questions to answer:
1. What city are you in?
Orlando Florida ( surrounding area)

2. What is the current unemployment rate and what was it 12 months ago?

Current Unemployment is 7.9% and it was 9.9% on nov 2011

3. What’s the current average cost of 3 bedroom house in your area?
Sample of 43 sold in the last 30 day...$159K

4. What’s the average rent for that same house?
$1185.00
5. What are the average annual taxes for that property?
1250
6. What are the current days on market?
69

Worcester, MA
1. Unemployment Rate Now 6.6%
2. Unemployment Rate 12 Mo ago 7.0%
3. Avg cost of 3 bed $168,869
4. Avg Rent of 3 bed $1,400
5. Avg Taxes for 3 bed $3,138
6. Current Days on Market 114

Holy @#%#!!!! An area manager for Dean & Matt, pinch me now!!!

Matt I know you like Worcester!!! CSX just completed a project, brand new development in downtown including new office tower for UNUM, St. Vincent's Hospital Cancer Center, Worcester Regional Transportation Authority inter modal terminal & coming soon major facelift to the DCU Center, brand new 600 bed dorm at Worcester State University!!! Check it out http://www.telegram.com/article/20130106/COLUMN27/101069809/0/SEARCH

1. What city are you in?
Anchorage, AK

2. What is the annual unemployment rate and what was it 12 month ago?
The current annual unemployment rate as of October 2012 is 4.7% and 5.9% back in January 2012.

3. What’s the current average cost of 3 bedroom house in your area?
The current average cost for a 3 bedroom house in Anchorage is $220,000.

4. What’s the average rent for that same house?
The average rent is $1,800.00.

5. What are the average annual taxes for that property?
The average annual taxes for the property is $2,613.09.

6. What are the current days on market
132 DOM

1. What city are you in? -
Chesapeake, Va 23323

2. What is the current unemployment rate and
what was it 12 months ago?

Oct 2012 - 5.5
Oct 2011 - 6.4

3. What’s the current average cost of 3
bedroom house in your area?

183K

4. What’s the average rent for that same
house?
$1,100

5. What are the average annual taxes for
that property?
2011 $2,237.55
2010 $2,237.55
2009 $2,327.85

6. What are the current days on market?
140

Dear Dean
This is really exciting for me I just got back and my father rented a house for 5 years. I just now got your email and I am really excited by this.

I have two real estate agents that I am starting to develop a relationship with maybe even a third one. I will contact them tomorrow and tonight I will Google every thing you have asked for. I want to do a good job You. so please give me a few days so I can do my internet home work as well as get the perceptive of two or three real estate agents for the market in LA County and surrounding counties.

Dean I have prayed to find a way to be on your team and I am going to work hard to get there.

Sincerely
Your Sister In Jesus
Debra Ann

Medford , Arlington Mass greater boston
Employment rate 6.0 2012 8.5 2011
Average cost $458,689 $283 per foot
Average rent $2300.00
Average taxes $13.66 per thousand
Days on Market 64 days
My friend is killing it he is buying property rehabing them in 3 months making profit of $50,000 to $100,000 on the deal his last deal netted him $50,000 he got $10,000 above asking price and it was on the market 1 Day.
Dean I would love to manage deals for you!!!!

1. Brooklyn Park, M.D.

2. Unemployment rate as of Dec. 2012 is 6.6%
2011 unemployment rate was 6.7%

3. Average cost of 3 bedroom is $219, 000

4. Average rent is $1400.00

5. Average annual taxes for property is $2,536.00

6. Days on market is 26 days.

Fond du lac, WI

Unemployment rate
Oct 2012 6.1
Oct 2011 7.6

Average price 3 bed house
106,000

Average rent
700-900 depending on condition & location

Average taxes
2700

DOM 169

City- East Hartford, CT
Unemployment Rate 7.1%
Average Cost Of 3 Bedroom House $152,500.00
Average Rent For Same House $1200.00
Average annual Taxes $4500.00
Current Days On Market 170

Oshkosh, WI

Unemployment Rate
Oct 2012 5.7
Oct 2011 6.7

Average price 3 bedroom house
109,000

Average Rent
800-900

Average Taxes
2800

DOM 149