Indicted San Jacinto Developer Just Listed His 30 Acre Estate

Indicted San Jacinto Developer Just Listed His 30 Acre Estate

San Jacinto, CA has been the hotbed of local political news with 4 of our 5 City Council Members under indictment for various campaign and money laundering issues.  In addition to our politicians, 4 others were also indicted including local developer, Robert Osborne the president of Osborne Development Corp. 

The 69 year old developer facing 90 different counts, including 25 felonies. 

Osborne Development has built many local tracts of some of the better homes in the valley and also has extensive land holdings in the Hemet San- Jacinto Valley, CA.  Currently, the company has homes available for sale in 2 neighborhoods in Hemet and two more in San Jacinto with a 5^th in nearby unincorporated Winchester with homes ranging in size from 1,251 sq ft to 3,366 square feet.

This story is about his 29.79 acre (per the Assessor records) ranch just up the street from my office at 805 N. Sanderson, known as Rancho De Milagro.  When driving by it is hard to imagine the splendor on the other side of the walls.  The local residents I spoke with were not even aware there was a private 5 acre lake there that is stocked with a variety of different species of fish.

Check out what an expired MLS Listing had to say about the place:

Welcome to Rancho De Milagro: A 30 acre luxury Horse Ranch Estate! Rounding the circular driveway, past the fountain and crossing the threshold, you'll enter this 3BR 2BA 2900 Sq ft Custom built Ranch Home, complete w/a gourmet kitchen housing custom cabinets, granite counters, stainless appliances & breakfast bar. An extended family room w/lake front viewing w/wall to wall custom windows. Detached office/lounge appx.1788 sq ft, outdoor kitchen w/bar & BBQ.3 RV hookups(elec, water, sewer, satellite TV),5 acre lake stocked w/a variety of fish in addition to several smaller ponds throughout the property, lighted show arena,5 stall custom barn w/tack room, covered/lighted 60~ round pen,3 large turn outs,9 stall covered Mare Motel,5 foaling stalls, hay barn has 24x72 concrete slab.3 irrigated pastures, Diverse ridding trails for even the most skillful rider. 3/4 Acre park w/patios, walk ways, horse shoe pit, and BBQ area. Property is fully fenced and landscaped beyond compare! Truly one of a kind, you MUST see! 

The ranch has only been active in the MLS since this past Tuesday, the 17^th of November just a few days after last week's indictments were handed down in court on Thursday the 12^th.  The seller has dropped their price by more than a million dollars - showing up in the MLS for $2,950,000 after it had been listed in the MLS and cancelled on June 16^th, 2009 by an out-of-area agent for the bargain price of $3,999,000.  The current price still is a bit steep for me at $100,000 an acre and only has a 3 bedroom house.

ISSUES WITH THE TITLE

Now anyone who has investigated real estate at all knows very well that there are often errors posted.  Remember the saying GIGO - Garbage In - Garbage Out.  Well that definitely holds true with public records. 

Now I'm not saying there is a problem here - only that questions are raised when I look at the basic information available to me, as a REALTOR® through a service provided by the MLS, known as ReaList.

When I click on the APN number in the MLS printout the RealList report opens in a new window.  The first thing I notice is the RED FLAG that says "BANK OWNED SALE".  This means the bank has already taken it back, yet the MLS Shows the property as a STANDARD SALE which means the owner is selling it and it is not under any distress, such as a Notice of Default or other proceeding.

The MLS says that the actual living space of the home is a 3 bedroom 2 bath home with an estimated 2,900 square feet, built in 2004.  The ReaList report agrees with MOST of this, but says it is only 2,450 sq ft.  So my question is did the builder/developer/owner commit some sort of other FRAUD in the plans and built it out larger than represented on all of the county and state paperwork in order to have the property taxes assessed for the lower square footage - it's lik3 17% difference.  I'd like to pay 17% less property taxes...anyone else?

SO WHO IS THE OWNER

According to the MLS, again, in the spot for the owners name it just says OWNER...OK, I can accept that.  Lets, however, look at the "sales history' as reported by the county assessor to ReaList. 

The earliest record available on this report is dated 1/23/2003 when Robert E. Osborne purchased the property from Rancho Kasanka for $275,000 - which is the last recorded Market Sale...except in the Last Market Sale section of the reports it appears as if Rancho Kasanka sold the property to Randy Schwetzer.  Remember this name, it comes up again.

The following June (2004) Robert did a "Quit Claim Deed" adding his wife (I presume) Patricia A. Osborne to the title followed by placing it in the Osborne Trust, on the same date with another Quit Claim Deed. 

Then on January 27, 2005 the property once again was transferred with a Quit Claim Deed to an outfit known as REO Investments, LLC (I have not yet been able to find out anything about this organization).

Just over a month later another Quit Claim was recorded transferring interest from Robert E. Osborne JR (first time this shows up) and Kelly (could this be a son and daughter-in-law?).  Once again multiple transfers on the same day then moved the title to the Osborne R&K Trust. 

Now I am all confused because the REO Investment LLC recorded a GRANT DEED transferring their interest to the City of San Jacinto and another Grant Deed on February 17^th, 2009 back to Randy Schweitzer, who apparently is a local businessman.

There are several questions that beg for answers...

First, who is Randy Schweitzer and REO Investment, LLC? 

Second, if the property was transferred to REO Investments, LLC in January 2005 how did it end up in the name of Robert E. Osborne Jr. 5 weeks later?

Third, if in the name of Junior, then how could REO Investment transfer the property to the City of San Jacinto in July 2008 and then again BACK to Randy Schweitzer in February of this year?

Fourth is the big question...what the heck happened in July of last year when the property was transferred to the City of San Jacinto...which coincidently is in the time frame that all of the voter fraud was allegedly taking place???  And Why Does the City NOT Show Up On Title Today? 

Is anyone else confused?  Well take a look at the short video and see what all the fuss is over.