Hemet, CA Real Estate News

By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
Home Warranty of America (HWA) is the only company for me to use and recommend to my friends, colleagues and clients. Yes, I have the HWA policy for my home and have now used it twice. The service was 'top drawer' (that means the best if you are under the age of 40). I had a plumbing contractor and a pool contractor in my home in the Hemet - San Jacinto Valley, CA - both showed up when expected. Both were clean and professional and both followed up to make sure my problems were resolved. Again, I'm very impressed with the service.In addition to providing superior service, HWA does their best to educate homeowners on the proper care and maintenance of the house and grounds.  Their website, has many resources including a nice animated series of educational videos, for the homeowner.Here i...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
Hemet California Real Estate has appeared to hit the bottom of the real estate market in August with home values bottoming out at around $130,000 and has started it climb up again to where it is now selling, on average for closer to $137,000. It should be noted the key word in the above paragraph is APPEARED…there is still a vast shadow inventory that could drop the bottom out of the market in a New York Second, if it were to hit all at once. . Looking at the activity for the last week, it definitely appears as if the real estate market is moving up in price in Hemet, CA…This chart shows the average sold price for Hemet real estate in 7 day blocks…
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By Veronica Lawrence, Gold Shield "WE Defend your Interests"
(Gold Shield Realty Group)
Now may be the time to buy in many parts of the country, but I sell real estate in Riverside and San Diego Counties of California. Homes are selling so cheap that some people are paying cash.  Wow that is so amazing to me.  Where did someone get $260k to pay cash for a home.  Were they saving for years...Decades??  Did they make great investments and they paid off? And, where were they, why did I not meet them?  Why were they not my customers?  A side from that good for those who are able to pay off one of the largest purchases people make and usually finance, paying at times triple the cash price. What about the tax deduction??  Did these people seek the advise of their tax adviser before making this decision to pay cash for a home and they are still working and in the highest tax brac...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
The President of the United States signed legislation on November 6th, 2009 that became effective immediately, allowing current homeowners, or ‘repeat buyers' to claim a tax credit of up to $6,500 for the purchase of a replacement home.This is the same law that extended the current $8,000 tax credit to first time homebuyers and raised household income levels.  This article will focus on the repeat buyer aspect of the bill.THE BASICSBefore we get into how it works, lets figure out who it works for.  It should be pointed out right now that there is no requirement to ‘move-up' at all and I suspect by the time this is over and done with most of these credits will be awarded to those who are actually downsizing...more on this later.The first criteria are that the repeat buyer MUST have resid...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
Is it Time to Sell...or Renovate?Many Hemet and San Jacinto, CA homeowners have been hit hard with the loss of equity, due to the collapse of our housing market and the decline in our general economic conditions.The down-side is many people thought they were buying a home as a stepping stone...thinking that their real estate investment in the Hemet - San Jacinto CA market would be a place to establish roots with a starter home and then they would be able to sell in a couple of years to another first time homebuyer - taking out the equity they planned on earning and applying it to a larger home to grow in.Unfortunately, there are a lot of shattered dreams in the Hemet - San Jacinto valley.  Many families today are living in over-crowded conditions and just don't know what to do.  Yes, th...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
45 Day Escrow...All the Time in the World, Right?  WRONG!The real estate market in the Hemet - San Jacinto Valley, CA is dominated with investors and first-time homebuyers.  The investors have all been through escrows and know what is expected of them to close and close on time, without incurring hefty per diem charges for delays.  First-time homebuyers more often resemble a deer in headlights, believing that 45 days is plenty of time for everyone to do their job.The first time homebuyer who now has successfully negotiated a purchase contract, with the help of their REALTOR® or other real estate agent now has the real work cut out.I'll often joke with buyers, very early in the process, when I'm assisting them with the ‘pre-approval' process that once they have been pre-approved we'll kn...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
Today more people are trying to make the most of the homes they have...and that means remodeling.Well here is a new video that just started it's circulation on some unusual home improvements...I hope you enjoy this as much as I did...My favorite is the Windows Window...the funnest...either the toilet paper or the light switch.  What do you think? 10 Funny Home Improvement Real Estate Ideas - Watch more funny videos here
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
It is true that the Active Listings in the MLS are dominated by Short Sales listings these days and on the surface they appear to be some really great deals.  However, just like your Highs School Prom Queen, looks can be deceiving (my apologies to all the H.S. Prom Queens who read this...and their Kings...and the rest of the Court, as well). Short Sale homes are typically are a better buying decision for an investor looking for investment property than for a first time homebuyer.  It still continues to amaze me when a first time homebuyer that is in a rush to move will ask me if I know "How to Buy a Short Sale House for Sale in Hemet?"Short Sale homes typically will be occupied by the owner - but not always.  Today, more investors are trying to liquidate their investment properties thro...
Comments 11
By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
Real estate sales in the Hemet - San Jacinto Valley, CA in the South West Riverside County region of the Inland Empire in Southern California has remained flat for the last couple of weeks.The Median List price continues to hover around $136,000 while the average is somewhat off based on a couple of very expensive properties - that are anything but typical for this local market.  Many of the sales are bank owned REO Listings and most of the Active Listings are Short Sales.Here is a brief summary that is the cover page to the 13 page detailed market report that anyone can sign up, for free and have delivered to their email box every week - tracking all of the important numbers pertaining to either the Hemet or San Jacinto real estate market...and yes, there is a difference and it may not...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
The California Association of REALTORS (C.A.R.) is holding it's annual EXPO in San Jose this year and speaking at the EXPO Luncheon this afternoon is the C.A.R. Chief Economist, Leslie Appleton-Young.Since I am not there, I am depending on industry insider, Inman News to keep me up to date.  Considering the luncheon was not scheduled to end until 1:30 this afternoon and I received my email update at 1:05 p.m., I'm guessing this is pretty current news.Admittedly the C.A.R. has an agenda to turn lemons into lemonade to support its declining membership.  So the projections for 2010 are of course optimistic and I am sure will be quoted by the mainstream press throughout the next news cycle and a source for future quotes and sound bites for some time to come.I'm not going to bore you with th...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
As a Hemet - San Jacinto Valley CA REALTOR®, I have the opportunity to meet all kinds of people  - many are looking for ways to jump into the current real estate market as investors...wanting to buy at the bottom of the market.My personal belief is we have beenseeing properties that can be purchased and rented out for a positive cash flow.  The debate rages on if we have 'bottomed out' yet or not.  The simple truth is every home for sale in the Hemet - San Jacinto Valley today, in October 2009, is priced below the cost of construction.  We still have great newer homes being offered in the $60 a square foot range - plus and minus.  I've sid it before and I'll say it again - this will most likely be the best time in your lifetime to buy real estate as an investment.For those who are looki...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
From where I sit as a REO Listing agent in the Hemet - San Jacinto Valley the California REO Market is finally starting to heat up.  OK, it may not be sizzling, but I have seen more action in the last week than in a long time - both with buyers and my sellers.Desperate buyers are still struggling to get into escrow to take advantage of the $8,000 tax credit that is scheduled to be pulled off the table for any escrows that don't close on or before November 30th, 2009.  That's only 61 days from now and our average time in escrow here in Hemet - San Jacinto, CA is currently 52 days for FHA loans, which are most of the first time homebuyers.  My thought with the decline of the program escrow may get a bit busy toward the end of next month,Not long ago the banks would come back with "highest...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
Reflecting on how the real estate business model has changed since I was first licensed five short years ago really is amazing.  The way I do business now is so much different from the ‘old school' business model that I was recruited into.Perhaps the biggest difference is the website.  Five years ago, very few agents had websites, let alone blogs or virtual tours or even IDX property searches.  I would have to say that the website has had the greatest impact on our business as REALTORS®.Today, we are not in the house finding business like we were five years ago.  I was told that was my job when I started, but it is definitely not my job now.  Today as a professional real estate agent in the Hemet San Jacinto Valley in the South Western Riverside County area of the Inland Empire region o...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
As an REO Listing REALTOR® in the Hemet - San Jacinto Valley portion of South West Riverside County in the Inland Empire Region of Southern California I come across some pretty strange things when I take possession of a property.This weekend I approached a former homeowner who lost their home to the foreclosure process and now the bank wanted me to offer a cash-for-keys opportunity to help relocate the family from the bank owned REO home in the shortest time possible.The basic rule is that the homeowner has to leave the home ‘broom clean' and all trash has to be removed from the house and yard.  We also need to make certain that the appliances stay behind and that there is no additional damage to the property.  This means I have to inspect the home, when we agree to the terms, which wil...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
OK, this morning I was turned on to a new tool that I find exciting and already have numerous applications for.  The tool is simple to use and the best part is the tool is FREE!OK, we can all agree we are in the age of communication.  Right?Old school communication is face to face.  Although the most effective it is very time consuming and can at times be awkward or uncomfortable.Next generation is the telephone.  Much quicker, because there is no travel time to get face to face - but certainly can be time consuming if either party likes  to gab.Communication evolved in the mid 1990's to the advancement of email.  No one can deny today the phenomenal affect that email has had on society in general and certainly in the real estate industry we breath email.By the middle of the first decad...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
This week I was Certified by the National Association of REALTORS® as an ePro.  As a result of the training I received I am in the process of updating my technology plan - meaning I am looking at the tools I use for my Hemet - San Jacinto, CA real estate business.  In many cases, I am ahead of the curve and my peers in my market - and in others I lack.With that being said, I am looking hard at all of my current services to make sure I am getting the most bang for the buck.  Today, I am considering changing my on line faxing solution.  In doing my research, I came across what I found to be a useful website where detailed comparisons are made of some of the most widly used on-line fax programs.So check this outfor yourself and see if you have the best tool on the market - for what you nee...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
I could not believe it, as I was doing my morning surf of the web looking for relevant industry news on what is going on in the housing industry across the country I come across a short blurb from the Aldine/North Houston NewsUnfortunately, this is a very short article of only 116 words - but powerful words that got me to sit up straight in my chair and take notice.  Powerful enough for me to put out a warning - not only to my own team and office but to everyone in the real estate industry that reads what I share.The short version is that 3 people went to a vacant home for sale at 8 o'clock t night, 2 were let in and then ambushed once inside by a pair of armed gunmen.  They were robbed at gun point.  When the crooks fled, apparently they were not counting on the 3rd person waiting outs...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
 Real Estate Sales is just as complex as the markets we serve.  As the market evolves so do the strategies of agents trying to get their next deal into escrow.  This is a tale of what is going on in the Hemet - San Jacinto CA Valley and what one REO listing agent is doing to try and stop the process before it ever gets out of control.I realize that first time buyers are frustrated by ‘the system' and that they want to take advantage of the current real estate market while they still can.  Many fear that the market will quickly turn and they will be unable to afford a home ever again, once the market changes and goes back up.  Many are anxious and even stressing over the thought of not being able to take advantage of the Federal Governments $8.000 tax credit for first time homebuyers.Reg...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
Live Market Data for Hemet, CA from Altos Research can be found here. If you subscribe on my website you'll be able to get these up to date market reports sent weekly to your email box for both Hemet and San Jacinto CA. Market Reports are also available for almost any city in the country - all free of charge.Here are 5 Reasons to sign up:    All my market research is real-time. What's happening right now in the market    Get more detailed market information than you can find anywhere else.    Learn about price trends, supply and demand and leading indicators.    Better real estate market information helps you make your decisions with confidence!    It's FREE! Just register on my site. Let me know which neighborhoods you're interested in and we'll get you my Real-Time Market Report today!  
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
Successful investors always have a plan.  They have a strategy for getting into a property and they will have multiple strategies for getting out of a investment property.I offer a blueprint to success in real estate investing...1)         Know what is Important to you in your life.  I'm not just talking money - life itself has value - what is it that makes you tick.  Figure this out and if real estate investing is not for you, then it's not for you.2)         Clean Up Your Act - If you have issues with credit, taxes, ex-spouses - anything that disrupts your life or has the potential to - get it together and deal with it.  If your life is over-complicated then you can be certain these negative forces will have a negative impact on your real estate investment strategy.3)         Know wha...
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