Rental Property (Asset / Condo) sold -- when to close the account in Quicken?

currently using Quicken HBR to manage some rental property and last year we sold a condo.  The Closing Statement line items were entered into Quicken and all is good in that front.  I have the condo as an asset account (house) in Quicken with a $0 value.  I don't anticipate any further activity in this account (closing was in Dec 2020).  Quicken is still asking me to update the value for this asset (showing the little blue clockwise arrow).  Should I simply "close" the account under the Edit Account Details window?  

just curious if anyone has any Lessons Learned or other experiences on similar situation.  Thanks!

Answers

  • Quicken Francisco
    Quicken Francisco Moderator mod

    Hello @Beijing Mac

    Thank you for reaching out on the community and telling us about your issue. I do apologize for the issue you're having. That is interesting you should be able to close the account as one of the options. I'm wondering here if you're able to potentially send us a screenshot of the message you're getting as well. I'll leave instructions down below on how to do so.

    https://community.quicken.com/discussion/7867159/faq-how-do-i-post-a-screenshot-in-the-community-from-windows#latest

    Once you get the chance let us see and we'll take a look.

    Thanks,

    Quicken Francisco


  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    I don't use HBR, but the only updating of the asset value I know of is the Zillow estimate.
    To turn that off go to the account details of the account and deselect the "Use Zestimate by Zillow" check box and then OK.

    As for closing accounts.  As long as Quicken Windows insists on not allowing me to reverse that operation (like Quicken Mac will allow) I don't intend to ever use it.  Everything it does, you can do manually. And I have seen too many post with a statement like "I closed XXX account, but it is still updating in One Step Update".  Which of course should never happen.  But then it get worse because they go to find that the Online Services tab is now gone, and basically they can't go in and manually turn that off.
    Signature:
    (I'm always using the latest Quicken Windows Premier subscription version)
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  • Beijing Mac
    Beijing Mac Member ✭✭✭✭
    Thank you for the reply Francisco.

    I actually don't have a problem per se, as you've asked.  I have all options to close account:


    I was actually looking for feedback on when may be the best time to close, such as immediately or wait like 1-2 years after taxes etc.  

    The little nuance, is that the Zillow Update reminder (little blue swirl) is still showing, even though I have attempted to "turn off" that as shown below:


    Not really a big issue, just sometimes like to go through and clear all remnders / reconcile etc and that Zillow swirl can't be cleared currently.  So that was the question about "closing" the account, which I have done for checking / CC accounts routinely after I have closed them, just not that often for other assets such as property.  Lat time was about 15-20 years ago and I can't recall if I closed it quickly or waited until at least until after the next tax season.

    regards,
    John
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    Just to confirm is this the icon you are seeing?


    This is the Zillow reminder to update, and what I believe you are talking about.

    As a test, in a copy of my data file I tried the close account just to see if it will in fact clear this out and here is what I got (mind you I don't sync to Quicken Mobile/Web).


    What happened is this.


    So "maybe" this icon will "cancel out" the other one, I don't know would have to wait the period of time before the reminder was due again.

    I think what I would try since I don't like closing accounts, would be to turn on the Zillow estimate, then make sure that the reminder is set to off, and then turn off the Zillow estimate.  I think that might do it.
    Signature:
    (I'm always using the latest Quicken Windows Premier subscription version)
    This is my website: http://www.quicknperlwiz.com/
  • Beijing Mac
    Beijing Mac Member ✭✭✭✭
    hi Chris, thankyou for the feedback.

    Here is the image I see:


    I did try to reset Zillow Updates, to see if it may let me "reset" the icon.... here is what I got:



    you've got to love it!

    I'm not going to worry about it for the time being, most likely sometime in the next few months, I will simply close the asset account since it was covered in last year's taxes and there will be no further activity.  Just one of those little nuances of Quicken, IMO.

    thanks!
  • Beijing Mac
    Beijing Mac Member ✭✭✭✭
    and I also do not sync or use the Quicken Mobile.  Had a corrupt data file issue a few years ago due to a glitch quicken had with  Mobile and will endeaver to never try that again, was a big scare and realized I don't need the mobile / web sync isse.  My data file too  valuable to risk that corruption scare again.
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