In my recent post on this series, San Jacinto Market Analysis - SOLD 5/20/09 - 6/20/09 I shared insight to the overall San Jacinto real estate market by providing a brief synopsis of current market conditions by analyzing all of the 136 residential real estate homes that closed escrow between May 20th and June 20th, 2009.
In this segment I will look closely at a very important segment of the market - the one controlled by CASH investors. Cash transactions accounted for 20.59% of all the closed San Jacinto real estate transactions during this 30 day period. Of the 136 homes that SOLD in San Jacinto, CA during the period of 5/20/09 until 6/20/09, 28 were purchased with CASH MONEY and 26 of those were for bank owned REO properties.
The Average CASH Transaction was on the market for 64.79 days (DOM) before escrow was opened - which lasted on average 34.89 days. Marketing time ranged from as little as 3 days and in one case - over a year at 539 days.
The Average San Jacinto, CA, SOLD Listing during this period was 1811 sq ft and only had 3.18 bedrooms and 1.93 baths on a 9,363 sq ft lot. This AVERAGE home was built in 1989 and sold for 97.54% of the list price of $107,296 for $104,526. These homes sold for an average of $59.99 per sq ft of living space.
Every one of these listings had pictures of the property - ranging from a single picture to 18 of the 20 that could be included. The average number of pictures was 6.79.
BE SURE TO READ THE OTHER SEGMENTS OF THIS SPECIAL MARKET REPORT ON SOLD LISTINGS IN SAN JACINTO, CA
Financing - CASH
Financing - CONVENTIONAL
Financing - FHA
Financing - VA
Financing - LAND CONTRACT
FINANCING OBSERVATIONS
Market Summary - Why local is Important
Blessings to all who read,
John Occhi, REALTOR®
www.JohnOcchi.Com
Hemet - San Jacinto Valley
951-6564-5550
Servicing THE REO Needs of Asset Managers, Servicers, Banks and Lending Institutions in the Hemet - San Jacinto Valley, Temecula, Murrieta, Winchester, Wildomar, Menifee, Sun Valley, Perris, Moreno Valley, Romoland, Homeland, Nuevo, Banning, Beaumont, Cherry Valley, Yucaipa, Redlands, Mentone, Loma Linda and throughout South West Riverside County and The Pass Areas of The Inland Empire in Southern California. If you are a buyer, investor, first time home buyer or are just interested in REO real estate, please contact us at the above phone number.
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