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client education: U.K. Based Tesco Foods Coming to Hemet - 09/27/07 04:35 PM
Hemet is soon to have one of the first of over 100 new "Fresh & Easy" food stores slated to open throughout the South West. Opening soon at the South West Corner of Florida Ave. and Lyon, U.K. based Tesco Foods has high hopes for this location and over 100 others scattered across the State of California, Nevada and Arizona to follow over the coming months.
At the very least, the shopping center at Florida and Lyon has received a much needed face lift as a result of the soon to open food store. Although complete details of the products and services … (6 comments)
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client education: California Real Estate - September 2007 Market Snapshot, News and Views - 09/27/07 02:31 PM
California's Real Estate Market Snapshot for September 2007 shows a dramatic drop in the average home sale prices. Dont let this one fool you though as the higher end of the market has seen a substantial drop in activity mainly due to turmoil withing the lending industry which has greatly effected the "Jumbo" loan market.
Unsold inventory is on the rise as expected yet only up 5.9% over last year. This report does not include new home inventory or sale data. One surprise is the median days on market compared to the median days on market. With sales down by 22% and iventory up … (0 comments)
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client education: Will Your Escrow Close on Time? - Only 30% are making it to closing. - 09/26/07 06:51 PM
Riverside County closings are at an all time low of 30% on average.
What does this mean to clients who have their home "sold" and in escrow. Only 3 out of 10 property sales in Riverside County, California are making it to close. I would imaging that Riverside County is not the only place in the County experiencing this.
The drop, from an average close ratio of 70%, has been attributed to a combination of lending issues and foreclosure proceeding that were not stopped before close. Lending issues were the main cause of escrow "fall out". Only a small percentage of fall out has been attributed … (13 comments)
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client education: Shoot First, Ask Questions Later - 09/24/07 04:39 PM
So, you have made a listing appointment. A listing that you want to take.
Assuming that you already have a great listing presentation. You are confident and well prepared. When do you review your presentation with the seller?
When attending listing presentations with other agents, I have found the transition from the personal side to the business side of a listing to be the most difficult and awkward for both the agent and the seller. An intial investment of your time, before your presentation, can have huge benefits for everyone involved.
Why not shoot first and ask questions later?
After a brief introduction and confirmation, I … (11 comments)
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client education: Home Security Doesn't Have to Break the Bank - 09/07/07 01:45 PM
Can a few minutes of your time and less than $50.00 be all you need to protect your home?
You don't have to rush out and buy a home security system to protect your home and your valuables. Not unless you have a Million dollar art collection. If you do, there is no need to read on. For the rest of us, effective home protection does not have to break the bank.
Making certain that all of your windows and doors have working and properly installed locks is the first line of defense in stopping would be thieves. The #1 entrance … (2 comments)
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client education: Limited Service - The Right Choice When Listing? - 09/06/07 04:55 PM
There are many "flat fee" real estate start ups revolving around "partial service" and "do it yourself" listing platforms....There are also thousands of homes available in almost any market area. Could choosing Redfin, or one of many others desperate for your business be the right choice when considering the sale of your home?
How could your choice effect you?
Most "limited full service" listing companies, and their "clients", find that other agents avoid their listings. Having no single agent to turn to for required documentation, additional information and a lack of "personal" service creates tension and, in many cases, additional work … (10 comments)
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client education: Redfin is Excellent for Home Sellers - 09/06/07 02:48 PM
Redfin and other "Hybrid" real estate service provider's "less is more" business models can help sellers realize higher gains on the sale of their property.
Some agencies, when seeing an offer presented by web based information companies like Redfin will cringe. Having an informational, rebate driven, company rather than a Realtor with personal involvement on the other side of a transaction does tend to create additional issues. Issues that must be addressed by a home seller and their real estate agent. Although both the seller and their real estate agent must be prepared for a little additional work, that work comes with … (5 comments)
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client education: The Recipe For Loan Fraud - The Anarchist Cookbook - 08/18/07 06:43 PM
If George Heyduke were to have written the Anarchist Cookbook today, it may have contained a chapter or two about mortgage fraud. It may have looked something like this:
Gather the following:
2-3 homes. They can be yours or someone elses. 1 must be a home that you have the ability to actually sell. You can find an accomplice who wants in on the scheme that owns a home or it could be a home that you have aquired using the techniques explained in chapter 12 (Straw Purchasing for Fun and Profit). A real estate license (easy to get in most states for less than $100) or … (17 comments)
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client education: Mortgage Reform - A Long Road Ahead - 08/17/07 11:18 PM
Rate reductions, loosened lending guidelines, An increase in the FHA maximum?
Will any of this change the market?
I DON'T THINK SO!
The re-education of the American home buying public will have to come first. When we continue to see, on the front page of MSN and in every major media, advertisements claiming that someone can "BUY" a $500,000.00 home for less than $1500.00 per month SOMETHING IS SERIOUSLY WRONG.
No one, and I repeat....NO ONE can "BUY" a $500,000.00 home for only, less than, or somewhere around $1500.00 per month. Rent one....maybe but not "buy".
Advertising this type of loan should not be allowed and confuses … (29 comments)
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client education: Over 55 and downsizing? You may be paying too much property tax! - 06/23/07 03:47 PM
If you are over 55 and selling your existing home, you may be able to transfer your property tax basis from your old home to your new home.
This can be a great benefit if you have had your existing home for a long period of time. Lets say you purchased your existing home for $100,000 many years ago and it is now worth $350,000.00. Your current property taxes, assuming you have no major improvements done that required re-assessment of your property value, would be roughly $1,000.00 per year +-. When you purchase a new home at equal or lesser value, you … (0 comments)
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client education: New Phone Number? Stop Phone Solicitors Dead In Their Tracks! - 06/15/07 03:43 PM
Great News For New Homeowners from Mission Grove Realty.
We all should know about the Do Not Call Registry and this should be your first step when moving and you have a new phone number.
What do you do in the meantime?
When you have purchased a new home, it is inevitable that you will receive a ton of solicitations and, until your number has been registered on the DNC registry (Could take months for the calls to stop) there is something simple...and fun to try. If you do this right away, it could save you much frustration and unwanted interruption at all … (3 comments)
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client education: Foreclosures and Short Sales - FREE Guide from C.A.R. Legal Services - 06/12/07 01:36 PM
I received this supplement along with this months issue of California Real Estate Magazine:
Legal Guide to Foreclosure Related Transactions (PDF)
With the increase in distressed property sales and the likelyhood that you will be involved in one of these transactions, it is imparative that we all increase our knowledge relating to "distressed property" transactions.
This simple guide is a much needed tool for new and experienced REALTORS. The legal services team at the California Association of REALTORS has put together a ton of useful information, updates and legal tips that we all need when dealing with pre-foreclosures, short sales and other "distressed" property.
I … (2 comments)
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client education: Contemplating the appeal of a properties assessed value? - 12/29/06 03:47 PM
I have had only 3 clients that have ever appealed their assessed values. Their results were;1 that was successful in reducing the assessed value by $8,000 (NETsavings to them was +- $80.00 yr) 1that, after review process, the value was left unchanged and 1 that after review was assessed at a higher rate +$12,000.
I would recommend that anyone contemplating the appeal process to do extensive analysys ahead of time, do some more and then be prepared for the possibility that you could end up with an assessed value HIGHER than when you started the process. In places where property tax rates are 1%, … (3 comments)
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Christopher Walker
Hemet,
CA
More about me…
Mission Grove Realty Inc.
Address: 153 South Harvard Street, Hemet, CA, 92543
Office Phone: (951) 927-8940
Cell Phone: (951) 634-4464
Email Me
Hemet - San Jacinto Valley, California REO Broker's tips, opinions and bank owned real estate related information for buyers, sellers, investors and Realtors in the Hemet, CA area.
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