We have done our diligence and now know what we need to about the market and what it is we should be telling the bank. We have found a deal and gotten the ball rolling. You have put in your offer and are expecting positive results very soon. We have identified our potential buyer, if we are going to flip the property and now we need to know how to go about getting … (0 comments)
investor: So You Have a Short Sale Lined Up - What Will You Do Once it is Approved? Step #3
- 06/23/07 12:04 PM
So You Have a Short Sale Lined Up - What Will You Do Once it is Approved? Step #3by John Occhi, Hemet - San Jacinto Valley REALTORHemet - San Jacinto CA Real Estate As an investor you always have to have an exit strategy with any property you acquire, in Hemet CA or elsewhere. In essence, you have two alternatives - ‘buy and hold' or ‘flip'. Now each of these methods have their own sub-categories of variances on these two basic methods. For the sake of this article, lets just consider the alternatives as part of either of the two choices - you … (0 comments)
investor: So You Have a Short Sale Lined Up - Who Are You? Step #2
- 06/18/07 02:13 PM
So You Have a Short Sale Lined Up - Who Are You? Step #2 by John Occhi, Hemet - San Jacinto Valley REALTORHemet - San Jacinto CA Real Estate As an investor, you have found the perfect short sale property in the Hemet - San Jacinto valley. You have everything ready to move forward.You are ready to contact the loss mitigation department of the mortgage bank that holds the note that is in the process of foreclosure. The homeowner is expecting you to stop the foreclosure and prevent the big ugly mark on their credit. You now know form reading the first article … (3 comments)
investor: So You Have a Short Sale Lined Up - Now What? Step #1
- 06/18/07 06:06 AM
So You Have a Short Sale Lined Up - Now What? Step #1by John Occhi, Hemet - San Jacinto Valley REALTORHemet - San Jacinto CA Real Estate Ok, so you are new to investing in Short Sales. You have heard the hype for the last 6 months or so and you are ready to get in and get going. Let's say you have found the perfect investment property in the Hemet - San Jacinto Valley, CA. You recognize the area as one of the hottest investment opportunities in all of Southern California as the medium price for a single family home is … (0 comments)
investor: Why Work with Short Sales, Foreclosures and Home Equity Sales
- 06/17/07 12:59 PM
Why Work with Short Sales, Foreclosures and Home Equity SalesWhat Must a REALTOR Know About Foreclosure - Pt1by John Occhi, Hemet - San Jacinto Valley REALTORHemet -San Jacinto CA Real EstateThe California Association of Realtors (CAR) recently printed a distributed a 12 page Special Report (SR) on the topic, "Legal Guide to Foreclosure-related Transactions". Specifically, the SR covers issues concerning Short Sales, foreclosures and home equity sales. This series of blog articles is meant to digest and break down the guidelines that CAR has provided. The SR starts by highlighting the reasons a REALTOR might want to consider getting involved in this … (0 comments)
investor: Short Sale Investors Want to Know What to Tell The Bank
- 06/17/07 11:22 AM
Short Sale Investors Want to Know What to Tell The BankBy John Occhi, Hemet - San Jacinto Valley CA REALTORHemet-San Jacinto Valley, CA Real Estate The real estate market in the Hemet San Jacinto valley should be heating up with the triple digit temperatures we are experiencing in the Hemet CA area. Unfortunately, it seems like the only segment of the Hemet CA Real Estate market that is heating up is the Short Sales, Pre-Foreclosures and REO properties. Ouch - this can't be good for the overall economy, can it? I don't think so. However, as a Real Estate investor you have the … (6 comments)
investor: Hard Questions A Bank Must Ask About a Short Sale
- 06/17/07 06:36 AM
Hard Questions A Bank Must Ask About a Short Saleby John Occhi, Hemet CA REALTORHemet-San Jacinto Valley Real EstateThe Hemet-San Jacinto Valley real estate market is becoming more and more influenced by short sales and foreclosures as the year 2007 marches on. I addressed this issue in my February 5, 2007 blog article, Why would a Lender Consider a "Short Sale"? At that time, I correctly predicted that more and more properties would find themselves in this situation. Today, I don't think I need a crystal ball to suggest that the problem has barely been addressed and the number of homes in … (0 comments)
investor: Flipping Real Estate Investment - California Real Estate Tax
- 06/10/07 12:18 PM
Flipping Real Estate Investment - California Real Estate Tax by John Occhi, Hemet CA REALTOR Hemet CA Real Estate As a REALTOR I am not allowed to provide my clients with either tax advise or legal advise. Everyone has a unique situation that should be addressed by an individual advisor that they trust and work with - year in and year out. However, as a California Realtor working the Hemet-San Jacinto Valley as my predominate real estate market, I do come across investors all the time who seem to think the tax codes and tax laws go one way, when I believe … (2 comments)
investor: How do Short Sales Affect the Economy?
- 06/10/07 08:35 AM
How do Short Sales Affect the Economy?By John Occhi, Hemet CA REALTORHemet CA Real Estate Does anyone really know what the future holds as far as real estate values - in Hemet or any other market in Riverside County or the rest of the Inland Empire? I think not!Yes, there are many wise men and women who study all of the different economic and social factors and come up with their opinions. Recently, the National Association of Realtors reported that we may have seen the worse of the downturn and others, like the Federal Reserve are predicting even deeper cuts.Interest Rates have … (3 comments)
investor: What Is A Short Sale?
- 06/10/07 07:35 AM
What Is A Short Sale?By John Occhi, Hemet CA REALTORHemet CA Real Estate A Short sale is simply a program that lenders have in place to satisfy their need to liquidate properties, without undertaking the expensive and time consuming foreclosure process. It is their way of cutting their losses. They do this by accepting less than the amount owed on mortgages that meet their criteria and have fallen into default. In Hemet CA, real estate market has taken a turn, as it has throughout all of Riverside County and the Inland Empire region of Southern California. Today many homeowners cannot afford the mortgages … (16 comments)
investor: 7 Different Flipping Techniques
- 06/09/07 11:36 AM
7 Different Flipping Techniques by John Occhi, Hemet REALTOR Hemet CA Real Estate There are many ways investors make a profit in real estate. I learned along time ago that true wealth is built by owning real estate for the long term and that cash flow is generated by flipping real estate. Wikipedia defines "Flipping" as a term, used primarily in the United States, which refers to the practice of buying an asset and quickly reselling (flipping) it for profit. Though flipping can apply to any asset, the term is often applied to the practice of buying real estate at below market value, … (4 comments)
investor: Ten Tips: How to Fix up a Home
- 06/09/07 09:23 AM
Ten Tips: How to Fix up a HomeBy John Occhi, Hemet CA REALTOR If you own residential property that you either want to rent or sell, you should be prepared to fix the place up a bit in order to attract the best renters or buyers for your Hemet CA Real Estate. Yes, we know that fresh paint and new carpet are almost always required to rehab any property and these two expenses often cost thousands of dollars. In order to maximize the return on this investment there are a number of other projects that should be considered - and the good news … (11 comments)
investor: Mortgage Fraud Can Have a Negative Ripple Effect
- 01/14/07 05:01 AM
Mortgage Fraud Can Have a negative Ripple Effect by John Occhi, Hemet CA REALTOR Hemet CA Real Estate As you may know, I have this sort of "Law & Order" fascination with the topic of Mortgage Fraud, and have shared a couple of articles in the past that have gotten some great response from the on line real estate community. Today, I received an email from a friend in Temecula - 30 miles south of where I am and the market I concentrated on until last July. Apparently, one of the largest Mortgage Fraud cases ever uncovered is starting to unravel fight … (19 comments)
investor: NEW LAW ALERT & RANT: 60 Day Evictions
- 01/13/07 06:23 AM
NEW LAW ALERT & RANT: 60 Day Evictionsby John Occhi, Hemet CA RealtorHemet CA Real EstateIn California as well as other states and the country as a whole, many new laws go into effect on New years Day. 2007 Is no different. Some of the new laws are pretty bizarre and just way to left wing for me. One example is one that directly reflects the Real Estate Investor business, which directly reflects the ability of Realtors, lenders and other professionals who make their living in any aspect of real estate. My understanding of the new law (California Civil Code Section 1946.1) is … (4 comments)
So You Have a Short Sale Lined Up - Find the Buyer - Step #4by John Occhi, Hemet - San Jacinto Valley REALTORHemet - San Jacinto CA Real Estate
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