Real Estate Agent with Mason Real Estate CA BRE 01444168

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).

          San Jacinto, CA REO Real Estate Inventory List vs. Sold, per the MLS

Although there are numerous ways to look at and consider these numbers, I am not trying to be philosophical about the good and evil affiliated with the housing market and the subsequent fall and crash of our economy, in general.

Thru March of this year, more properties were being listed in the MLS, in the City of San Jacinto than were being sold.  By April, more REO (Bank Owned) homes were sold that were added to the inventory.  As a net result, there were 131 more bank owned homes sold over the last 12 months than were added to the San Jacinto Inventory, on the MLS.

Last month, tied with May for the lowest number of closed REO escrows with 56.  Unlike May when 135 new properties were listed for sale in the MLS, in October there were only 84 new listings.

Prior to March, 2009, each of the four proceeding months had between 107 and 112 new REO listings added to the MLS.  Since the peak at 135 in March, we only had one month over 90 new MLS listings (June - 92).

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Until Next Time, Have a Blessed Day,

John Occhi, ePRO, REALTOR®
DRE Lic No: 01444168

ePro,John Occhi,,realtor      Certified Probate Real Estate Specialist Logo Awarded to John OcchiFive Star Logo,Certification,REO,Five Star Institute     

Excellence in Real Estate,Team Log,John Occhi,,hemet,san jacinto,CA  

This blog and the contents written here is the intellectual property of John Occhi, Temecula - Murrieta, CA REALTOR® in the South West Riverside County region of the Inland Empire of Southern California.  The views and opinions expressed are just that - views and opinions of John Occhi and those who comment.  Please note that I am not an attorney or a tax professional and any time I discuss either topic, I suggest you consult with the proper professional for relevant assistance. 

I am proud to be a full time REALTOR® who is proud to be a contributing member of the ActiveRain community.

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Comments (2)

Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

WOW!  Y'all must be seriously lacking some inventory


Nov 23, 2009 11:40 AM
John Occhi
Mason Real Estate - Temecula, CA
SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate

Seriously is the key make that lacking,  It does hurt.

Nov 25, 2009 01:27 AM

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