reo: Southwest Riverside County Market Update: May 2012 - 06/27/12 02:38 AM
SOUTHWEST RIVERSIDE COUNTY MARKET UPDATE:  MAY 2012 The Temecula real estate market has been a topic of heated conversation over the last 5 years as we have seen prices plummet to it cyclical low point in February 2009. As we continue to watch it climb – now reaching 27.3% above that low point, across California.
Today, Leslie Appleton Young and the California Association of Realtors (CAR) released a video market report that I found interesting enough to share the details with my readers while I try and compare some of the statewide data with my own local research of the Murrieta – … (0 comments)

reo: What's Going on Temecula Real Estate? - 03/29/12 05:30 AM
What’s going On?
Well, it has been a while since I have been active in either real estate or blogging on ActiveRain.  Many of you know, and have wished me well in the past, that I lost my wife to cancer on December 10, 2010. 
For the 8 months leading up to her passing and for the year following, I was not at all active in Real Estate.  However, I have decided it’s time to get back on the horse and get back to the professional passion that has driven me for years.
The question is – where do I go … (3 comments)

reo: Investor Special - Look What You can Buy for Under $50,000 in the Hemet - San Jacinto Valley - 07/24/11 10:16 AM
Wow... a Single Family Home for Under $50,000...only $45,000 to be exact!  That's right it's almost 1,100 sq ft and includes 2 bedrooms, 2 baths, an attached garage and even a covered carport and covered patio in the back yard.
 
The new listing for sale is just hitting the MLS today, and already there is excitement from the investor community.  I have one savvy buyer looking for a great investment property who is looking to leverage her own resources with hard money, or as it is more commonly known today - as 'Private Money'.
 
The seller is a bank … (2 comments)

reo: As the Market Changes...So Do I - 04/02/10 07:12 AM
There is no doubt that the California Real Estate Market has seen some dramatic changes over the last few years.I started working with distressed real estate as early as 2006, when I did my first of several thousand BPO's that I now have under my belt.  At the time, I recall being laughed at by a local agent - to my face - criticizing me for my lack of judgment and too busy chasing $50 at a time opposed to earning $5K or more in a real estate commission.  I'm sure many more did the same behind my back.
In March of … (13 comments)

reo: 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)

reo: $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)

reo: 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.
(3 comments)

reo: Where Have All the REO Listings Gone - 12/28/09 01:20 AM
Winding doen 2009 and looking forward to the future you have to know where you have been if you want to know where you are going.Planning my marketing and business plan for 2010, as an REO Listing Agent, I have taken the opportunity to examine how many REO Listings we (as a market - not my personal production) have had assigned just in the city of San Jacinto, CA, going back to January 1st, 2007.

By looking at the above chart it is apparant that from May of 2008 through May of 2009 that there was more than enough business … (8 comments)

reo: San Jacinto CA Real Estate - 2005 thru 2009: List Price vs. Sold Price - 12/27/09 04:47 PM
The San Jacinto REal Estate Market has seen a steady decline over the last 5 years.  For the most part, the List Price and Sold Price
 
When looking at the number of listings that have come on the market over the past 5 years you can see that we have sold an awful lot more of our inventory than we have replenished
The CURRENT ACTIVE INVENTORY in SAN JACINTO, CA consists of ONLY 228 ACTIVE Listings of which only 50 are REO Bank Owned homes for sale, per the MLS as of the time of the writing of this article.  … (0 comments)

reo: 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)

reo: Some of the Costs Associated with Buying and Selling a Hemet - San Jacinto, CA Home - 12/20/09 05:45 PM
It does not matter if you are looking to buy or sell real estate in the Hemet - San Jacinto CA marketplace, there are going to be costs associated with the transaction.  There are times when the seller will cover the costs for the buyer or perhaps the buyer may even be eligible for a grant, such as the one that the City of San Jacinto is currently offering for First Time Homebuyers.  I have a local expert, Hilary Wilkinson form Patrion Mortgage (Altura Credit Union) that knows more about all of the various programs and assistance available than anyone I … (0 comments)

reo: 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)

reo: Setting and Collecting Rent - 12/05/09 09:24 AM
As an REO Listing Agent in the Hemet - San Jacinto Valley, CA I have the opportunity to work with many investor clients.  Many are interested in buying and holding property today, rather than the quick flip.The problem I have is I do not do Property Management, nor do I have a Property Manager that I feel comfortable referring my clients to.Well, form now on, they will all be asked to read this blog.

Rental income is the lifeblood of the landlord’s business. If the mechanisms are not put in place to bring in the right amount at the right … (0 comments)

reo: The Life of a Short Sale - Contact with HSBC - 12/03/09 09:51 AM
I decided that I would write a chronicle on the life of my new short sale listing.  In case you missed it, I described my transition BACK to short sales from Bank Owned REO's as a listing agent and team leader in my recent blog post, Humble Pie...Or OH NO, Did I really Take a Short Sale Listing???? AGGGHHHHHHHH.  Yes, it is true I went kicking and screaming...but here I am.I had a meeting with my two assistants and shared with them in detail what I expect to happen and started to figure out the game-plan of how we are going … (10 comments)

reo: 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)

reo: 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)

reo: 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)

reo: 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)

reo: 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)

reo: San Jacinto, CA | Market Report | List vs. Sold | 12 Month Snapshot - 11/23/09 09:14 AM
San Jacinto, CA at the north end of the Hemet - San Jacinto Valley has been one of the hardest hit areas in the country when it comes to foreclosures and the loss of value in residential real estate.  For those who review the data on a national level, the Hemet - San Jacinto Valley is in the Southern California Region known as the Inland Empire which consists of San Bernardino and Riverside Counties.The MLS data shows that there have been 1,841 homes added to our inventory over the past 12 months (November 2008 thru October 2009) of which 1,501 homes … (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

More about me…

Mason Real Estate

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

Mobile: (951) 443-6259

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