SAN JACINTO, CA | MARKET SNAPSHOT | SHORT SALES GATHER STEAM

By
Real Estate Agent with Mason Real Estate CA BRE 01444168

The tides are changing in the local San Jacinto, CA real estate market as short sales take on a greater number of closed escrows each month, over the past 12 month period (November, 2008 thru October, 2009).

Prior to June, 2009 the most Short Sales to close escrow in a month was 6, in April.  December and January saw 4 and 5, respectfully and November, February and March only saw either 2 or 3 closed short sales.  June reached the level of 8 closed short sales in a single month and after that we have been in double digits every month...with an increase every month; starting with 12 in July we went to 15 and 16 in August and September and finally up to 24 closed short sales in October, 2009!

 

              SAN JACINTO, CA | MARKET SNAPSHOT | Real estate SHORT SALES GATHER STEAM, as per MLS


As encouraging as the trend is for those who are involved in short sales it still must be pointed out that over the past 12 months 546 listings were assigned for sale and only 101 actually closed escrow, as per the MLS.

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Until Next Time, Have a Blessed Day,

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


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

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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 (4)

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

CONGRATS SAN JACINTO!  I have seen the same trend here.  It was 200 units/month for the past two years and then May hit and we have seen increases every month since.  We are almost up to 700 units per month, GIMME A WOOT WOOT.

Mr Occhi, I must say your graph is oh so beautiful and I did post video today so if you wanna see my face, check out my new open house post ;)

Nov 23, 2009 11:23 AM
Fernando Herboso - Broker for Maxus Realty Group
Maxus Realty Group - Broker 301-246-0001 - Gaithersburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

The same trend is in my area.. looks like short sales are here to stay with us a little longer.

Nov 23, 2009 09:17 PM
John Occhi
Mason Real Estate - Temecula, CA
SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate

Renee,

First, thanks for the compliment on the charts - I still struggel making these for whatever reason.

As far as my market - we keep losing inventory - month after month...we need some listings desperatly.

As far as your video - awesome and what a pretty face it is...just that in your phot (this and most recent) no face at all...I was wondering why?

John

Nov 25, 2009 01:24 AM
John Occhi
Mason Real Estate - Temecula, CA
SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate

Fernando,

Short sales may not only be here to stay...but if you listen to the vendors at NAR Expo last week they are getting ready to dominate the marketplace.

John

Nov 25, 2009 01:26 AM

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