bank owned: PET PEEVE: Out of Area Agents with Out of Area Lock Boxes - 01/10/10 11:44 PM
In the Hemet - San Jacinto, CA Valley we have been hit hard, as a community, with more than our fair share of foreclosures and bank owned (REO) homes for sale in our little neck of the woods known as the Inland Empire, CA.As a small board, the Hemet San Jacinto Association of REALTORS (HSJAOR) belongs to SoCalMLS which uses the SentriLock electronic lock box system.  Every board that surrounds us uses the Supra system.  The two are not compatible.  At a cost of almost $100 per lock box and an inventory of over 20 lock boxes, I am not interested in … (18 comments)

bank owned: $200,000,000 For California Home Buyers! What the...? - 01/08/10 04:27 AM
Governor Schwarzenegger delivered his last State of the State address to a joint session of the California State Legislature, Wednesday January 7, 2010, and took the time to propose some pretty controversial ideas for stabilizing the economy in the Golden State.Of particular interest to the Real Estate Industry is his proposal to allocate another $200,000,000 tax dollars to subsidize homebuyers with a tax credit that would provide up to $3,333 off of state taxes for each of the next three years.This program is very similar to the $100,000,000 that was given away for buyers of 10,600 new homes between March and … (10 comments)

bank owned: San Jacinto,CA Market Analysis – Distressed Listings - 2007 - 2009 - 12/28/09 04:54 AM
The San Jacinto Real Estate Marketplace has been dominated with Distressed Properties.  Unfortunately,  the data is not very accurate, because until recently many Short Sales were not reported in a search-able field in the MLS as a Short Sale.By looking at this data you can see that this market peaked in the number of listings over a year ago.
 

By looking at this next chart you will see how quickly bank owned REOS have sold in comparison to Short Sales in the San Jacinto, CA real estate marketplace.
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bank owned: Price Reduction - Bank Owned Sr. Condo - 12/21/09 08:26 AM
618 W. Villa Chapparral Rd, San Jacinto CA, 92583
Nice place for sale - check out this bank owned (REO) home for sale...this real estate must be occupied by at least one person who is 55+ or older... So, there is a door from the garage that opens right next to the front door making it near direct access to the interior of the home. The Unit sits on the corner, so you only have a neighbor on one side. If you want to further your education (or maybe get at job at the place) you are only 1 block from Mt. San … (3 comments)

bank owned: Pre-Listing Video - 2521 Linden, Hemet, CA 92545 - 12/18/09 03:09 AM
Cash For Keys Home has been Surrendered at bank owned home (REO) located at 2521 Linden, Hemet, CA 92545 Why is it important that this was a cash for keys home, you ask? Good Question. You see when the homeowner stays in the property to the very end and the bank pays them to move, assuming the home is left in 'broom clean' condition with all of the appliances and fixtures it typically has a better chance of being in better care than when homeowners move out and abuse the homes before they leave...often stripping appliances, fixtures and even outlet covers … (4 comments)

bank owned: When is a Bank Owned Home Not a Bargain? - 11/30/09 01:47 PM
There is one common denominator between all real estate buyers today - whether they are shopping for investment property or first-time homebuyers...they all want a deal and the perception is that the bank owned, or REO, properties are going to be the smoking deals of the day.  But not always...The truth is many of these homes can turn into big money pits.  Remember, when you are buying a bank-owned home in the Hemet - San Jacinto Valley, CA was probably a first time home for the previous owner...the same owner that for whatever reason was not able to hang onto their … (7 comments)

bank owned: INVESTORS- The Dirty Dozen Pre-Qual Questions...and then some - 11/30/09 03:11 AM
As an REO Listing Agent, specializing in the local market of Hemet and San Jacinto, CA  bank owned (REO) real estate, my listings generate a lot of activity in the real estate investment world.Real Estate Investors are unlike first time buyers.  They should never be emotionally attached to any single transaction; for the real estate investor it is all about the numbers and what makes sense.  Whereas the first time home buyer or even the repeat buyer, is looking for a place to call home and raise a family.  The good news is the Hemet - San Jacinto Valley has plenty … (14 comments)

bank owned: How To Find Investor Buyers for Bank Owned Listings - 11/29/09 04:21 PM
How To Find Investor Buyers for Bank Owned ListingsAs an listing agent of Bank Owned Homes (REO) my job is multi-faceted from securing a property, cleaning it up for resale, generating reports to help price the property and the ultimately listing the home in the MLS and selling the property with a successful close of escrow.As a listing agent, I rely on many traditional marketing methods to help sell the homes, as quickly as possible for the most amount of money for my seller client and the least hassle for my staff and I (as well as my client).Ideally, I want … (5 comments)

bank owned: Prelisting Opportunity - 42079 Levi Ct, Hemet CA 92544 - 11/29/09 04:58 AM
Prelisting Opportunity - 42079 Levi Ct, Hemet CA 92544
Here is a great newer bank owned REO home, built in 2006, located close to the California Distinguished Scholl, Hemet High School.  Enjoy the short video...

This 1850 sq ft semi-custom home is built near the end of a cul-de-sac on a 7,405 sq ft lot that still needs rear landscape. 
The home itself is very clean - left in near move-in condition.  The rooms are large and it has a really great feel to it. 
PRE MARKETING STATUSThis home is NOT yet listed on the MLS, because we just … (0 comments)

bank owned: SAN JACINTO, CA | REO/BANK OWNED | 12-MONTH MARKET REPORT | LIST vs. SOLD - 11/23/09 09:51 AM
The Housing crises is no stranger to San Jacinto, CA, located in the Inland Empire region of Southern California (Riverside County & San Bernardino County), one of the hardest hit in the entire country.The market has been dominated by the sale of bank owned real estate with 80% of all closed transactions reported to the MLS have been bank owned - or 1,202 of the 1,501 sales that closed escrow in the last 12 months (November, 2008 thru October, 2009).
         
Although there are numerous ways to look at and consider these numbers, I am not trying to be philosophical … (2 comments)

bank owned: New Video Program is for the DOGS! - 11/19/09 11:07 AM
There is a new video program that I tried out a couple of weeks ago for free.  They allow you 30 second videos with about a dozen pictures...and of course the viedeo is branded Animoto.There is a pretty incredible professional version available for aboutr $250.  I did not want to commit to it until after I came back from NAR - as I wanted to see al of the new technology on the market.Well, yesterday I took the plunge and signed up.  It has been fun playing with.  This will be very useful both for business as well as personal.
Here … (17 comments)

bank owned: NEW REO Listing - 41408 Thornton Ave, Hemet CA 92544 - 11/18/09 06:29 AM
Have a new listing for a bank owned REO home for sale that just went on the market - it has been very popular with agents wanting to see it...Home is located just a block away from Hemet High School
Here are the comments I put in the MLS:
Well taken care of East Hemet Ranch Style Home located only 1 block from California Distinguished School, Hemet High School in a very desirable area of the local valley. This home is actually in the unincorporated area of Riverside County. You will be impressed from the curb with the low maintenance rock-scape … (0 comments)

bank owned: Why Does the Law Care What Escrow Company I Use...and Does it Really Matter? - 11/16/09 04:16 PM
I just received an email from ReaLegal®, brought to me by the California Association of REALTORS® that an announcement of a form revision.This post really did start off as a simple review of the form and changes that are now in effect.  Read the whole blog and find out that it is much more than that...The REO Advisory (CAR form REO) has been updated to include the notice that Buyers of REO properties in the State of California (which include the Hemet - San Jacinto Valley, CA by default) that they are not required to purchase escrow services or title insurance … (8 comments)

bank owned: My First Video...701 Verona, San Jacinto, CA 92583 - Torino Neighborhood - 11/09/09 10:40 AM
OK, this is not my first post on this bank owned property but I am in the process of expanding my technological skill set.  I have threatened myself with video production for some time, to service my REO Real Estate Listings - but for whatever reason I was just never satisfied with anything that I produced.So I took this video over the weekend.  Am I impressed...Heck No...but I did it and that's what counts.If you want to see more details about this property then you can check out my earlier post by clicking on this link:  New Listing in San Jacinto, CA Torino … (5 comments)

bank owned: market report: San Jacinto, CA | 8/21/2009 - 9/20/2009 | REO Sales and The Market - 10/19/09 11:49 AM
The Hemet - San Jacinto, CA real estate market has remained flat as the summer buying season came to an end.
This report wants to look back from the period covering August 21st through September 20th, 2009.
In particular we will look exclusively at the impact that bank owned homes have had on the market and how each of the four dominant finance types have an effect on the bank owned real estate transactions.The four finance types, of course, are:  Cash, Conventional - typically requiring 25% cash down by the borrower / investor, FHA which is predominately the first time home … (1 comments)

bank owned: Want to Buy an REO...check out this Short Funny Video - 10/08/09 05:47 PM
I was surfing around and think I found the next real estate video that will be taking off viral - you have got to see this - just be prepared for your sides to hurt from laughing so hard - it is hilarious. This Video highlights the problems with buying a bank owned home in the current market - take a moment and enyoy the laugh...just don't get mad at me just because I am an REO Listing Agent
 
 

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bank owned: 2010 Real Estate Projections from C.A.R & Local Expert John Occhi, REALTOR® - 10/07/09 09:32 AM
The California Association of REALTORS (C.A.R.) is holding it's annual EXPO in San Jose this year and speaking at the EXPO Luncheon this afternoon is the C.A.R. Chief Economist, Leslie Appleton-Young.Since I am not there, I am depending on industry insider, Inman News to keep me up to date.  Considering the luncheon was not scheduled to end until 1:30 this afternoon and I received my email update at 1:05 p.m., I'm guessing this is pretty current news.Admittedly the C.A.R. has an agenda to turn lemons into lemonade to support its declining membership.  So the projections for 2010 are of course optimistic … (4 comments)

bank owned: DOES AN FHA OFFER REQUIRE A MAXIMUM of 3.5% DOWN? - 10/04/09 04:50 AM
Of course not.  So this is yet another frustrating scenario that continues to escalates the clash between buyers agents and REO Listing Agents.Once again, one of my listings gets cleaned up and put on the market.  The seller tells me straight up that they will not consider any offers until the property has been on the market for 10 days.  I share this with each buyers agent that submits an offer.On Friday, day 8, my seller wants me to package the several offers that I have and verify that the buyers are still alive.  So I spend the next two hours … (5 comments)

bank owned: My ActiveRain Success Story - 10/03/09 07:27 AM
I just posted much of this to my ActiveRain Profile - but it seems to have gone elsewhere - not sure...so I thought I would repost as an actual blog post to share with all who follow me here in the Rain...
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | … (8 comments)

bank owned: HAZARDOUS HOME INSPECTION - BE SAFE - 09/27/09 07:18 PM
As an REO Listing REALTOR® in the Hemet - San Jacinto Valley portion of South West Riverside County in the Inland Empire Region of Southern California I come across some pretty strange things when I take possession of a property.This weekend I approached a former homeowner who lost their home to the foreclosure process and now the bank wanted me to offer a cash-for-keys opportunity to help relocate the family from the bank owned REO home in the shortest time possible.The basic rule is that the homeowner has to leave the home ‘broom clean' and all trash has to be removed … (0 comments)

 
John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate (Mason Real Estate)

John Occhi

SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate

Temecula, CA

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Mason Real Estate

Address: 30520 Rancho California Rd., #107, Temecula, CA, 92591

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