San Jacinto, CA Real Estate News

By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
Have you ever gone NUTS trying to figure out a program...well I have tonight - over 2 hours on MS Excell trying to make a simple chart. My biggest problem is that instead of showing data every month, for some reaspon it only wants to generate quarterly points on the chart...and that is not going to cut it.I spent the afternoon compiling this data and it is important to me and San Jainto Real Estate. so here is the spreadsheet by itself...   November, 2009 December, 2008 January, 2009 February, 2009 March, 2009 April, 2009 May, 2009 June, 2009 July, 2009 August, 2009 September, 2009 October, 2009   Total Closed Sales 114 118 116 116 143 148 145 135 130 107 104 125   Avg Sold Price $166,503 $145,779 $154,971 $131,060 $121,852 $124,898 $120,859 $141,489 $131,765 $129,779 $134,091 $145,957 ...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
Once again it is time to take a look at the Closed Sales for San Jacinto, CA.  For this report, I'll be looking at the entire month of October, 2009.  My objective is to not only provide the typical numbers that can be found almost anywhere, but to once again break them down into the very critical subcategories of Sale Type and then again by Type of Financing.  In other words I'll be looking at REO Sales independently of Short Sales and FHA Loans differently than Cash Sales.In addition to the Bedroom count, Bathroom count and the Living Space Square Footage I like to take it a step further and analyze the List Price to Sold Price ratio; not only will we look at the Days on Market (DOM) I will also present data that shows how long the typical escrow takes to close for each of these categ...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
Indicted San Jacinto Developer Just Listed His 30 Acre EstateSan 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 5th in nearby unincorporated Winchester with homes ranging in size...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
San Jacinto, CA may be having more than its fair share of problems with the recent indictments of 4 of the 5 City Council Members - to include our Mayor and five others.  I am not here to condemn. Convict or even pardon the actions of the accused. Let's remember, they are only accused.  Have you never been wrongfully accused at some time in your life?  I know I had.  At one point in my life I took the attitude that if the accusation is made then there must be some thread of truth to the charges.  All I'm going to say it is downright scary what vindictive people can cook up and how lies can turn to truths before you know it.So yes, this is AMERICA where innocence is GUARANTEED to be PRESUMED until PROVEN GUILTY and I as a Proud American and Citizen of San Jacinto, CA will do my part to e...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
Last week San Jacinto CA was thrust into the national headlines as a hotbed of political corruption when 80% of the standing City Council - including our mayor, three local prominent business leaders, an elected official of the school district and a pastor from a Northern California church where charged hundreds of times with both felony and misdemeanor indictments.The charges have mostly to do with a failed attempt of one of the council members desire to seek higher office in the State Assembly.  The charges cover a wide assortment of accusations which include but may not be limited to conspiracy, bribes, money laundry, tax fraud, perjury and last but not least filing false government documents.  Some of these guys are looking at up to 26 years in prison.If you want the juicy details, ...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
I just received an email from ReaLegal®, brought to me by the California Association of REALTORS® that an announcement of a form revision.This post really did start off as a simple review of the form and changes that are now in effect.  Read the whole blog and find out that it is much more than that...The REO Advisory (CAR form REO) has been updated to include the notice that Buyers of REO properties in the State of California (which include the Hemet - San Jacinto Valley, CA by default) that they are not required to purchase escrow services or title insurance from any particular company...let alone the company that the seller has previously mandated.  The new law is called the "Buyer's Choice Act" that became effective on October 11th, 2009 - the day Governor Arnold Schwarzenegger sign...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
I met with an investor client for the first time yesterday afternoon after spending a short time on the phone with him, after he found me through my Internet presence (can't be sure, but I think it was from here- ActiveRain).The REO property he had definitely wanted to see was a newer 4 bedroom home listed in the mid $140's.  Unfortunately for him it went into escrow on Friday.  Good for me, because it just reinforced what I told him during the week - that good house sell very quickly in this market.Once we got together, we went over 7 homes that I had picked out, researched and mapped a tour of.  As we sat in the office, I realized that he has been going through an hands-on training program presented by a popular TV personality that is making a lot of money flipping homes.It seems ther...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
SAN JACINTO Announces 6% Grant for FIRST TIME HOMEBUYERSThis is EXCITING NEWS:  San Jacinto, CA.  The Redevelopment Agency of the City of San Jacinto just released the final details of the Down Payment Assistance Program which offers a 6% Grant for first time homebuyers.That's right - 6% which can be used for a combination of down payment assistance and closing costs.  The best news is it works in conjunction with the benefits available through the recently enacted bill known as "The Worker, Homeownership, and Business Assistance Act of 2009" and is commonly referred to as the $8,000 First Time Buyer Tax Credit.HOOPS TO JUMP THROUGHLike any government sponsored program, they can't just give it to everyone - there have to be certain qualifications that have to be met - but let's just say...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
The Hemet - San Jacinto. CA Valley has something going for it that most people don't easily recognize or understand why it has happened.  We are a sleepy valley off the beaten path of Southern California - the closest freeway on ramp is about 15 miles - and that is hard to find in SoCal!  Our population - for the entire valley is maybe 100,000 - not a big slice considering the millions who live in the Southland.  We certainly are nor a rich or exclusive community - the average home sell for about $130,000 - far less than most other areas of California.So then why...why does WalMart have not one but two Super WalMarts in our valley...one in Hemet and the other about 5 miles away in San Jacinto?  OK, they both went up while the housing boom was going strong...so what did they know?  What ...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
The San Jacinto, CA Real Estate market is very similar to every other local real estate market in the country - it is local and has it's own unique nuances.In this Market Snapshot I am going to examine the market for 3 Bedroom 2 Bath Single Family Residential homes, across the entire city of San Jacinto and cover current statistical data and looking at sales in the city, spanning the last 90 days, only.QUANTITYACTIVE - Currently there are 57 ACTIVE real estate listings in San Jacinto that range in size from 924 square feet to 2,481 sq feet with an average size of living space of 1,544 square feet.These homes are listed for sale in the MLS from $59,900 ($44.53 per sq ft) to $359,000 ($227.23 per sq ft.)  The average List Price for ALL Active real estate listings in San Jacinto, CA is $13...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
San Jacinto, CA - City Offices & ServicesWhen looking to buy real estate in San Jacinto, California it is nice to know that the real estate you buy is in the oldest incorporated city in all of Riverside County, CA. located in South West Riverside County portion of the Inland Empire region of Southern California - one of the fastest growing regions in the entire country.The City of San Jacinto, California, City Hall is located at 595 South San Jacinto Avenue in Building "A", San Jacinto, CA 92583.  The City phone number is (951) 487-7330The City Clerk is also located at 595 South San Jacinto Ave but in Building B.  The San Jacinto City Clerk phone number is (951) 487-7339.The City of San Jacinto, CA Finance Department is in the same building, B, as the City Clerk as 595 South San Jacinto...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
The song by CLASH, with the same name as this article, may have been a hit back in 1981, when they asked the question that seems to be the question of today, "Should I Stay or Should I Go?"Today, however, the question takes on a more serious tone than the confused singer in his tumultuous love affair begging for confirmation as the chorus ends with the line...         If I go there will be trouble            An if I stay it will be double            So come on and let me know(LISTEN HERE)The tone of the question today, of course, if focused on the housing chrises, as more and more families are trying to figure out what to do.  It's not like there is a single authority on the subject of what will happen to them - in either scenario.  Should they stay or should they go?            This in...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
Looking through the online edition of REALTOR Magazine and there is a story posted this morning that references an article published on Forbes.Com by Zack O'Malley Greenburg that claims to have found the 10 Safest Places to Live, in the USA.The criteria was reviewed with four factors in mind: Workplace Accidents Weather Catastrophes Crime Rate Traffic Accidents OK, so I can see why these issues are considered and will help define safty for the average family looking to find a place to call home and raise a family.The problem I have with the results is that they are all cities of significant size.  Take a look: Minneapolis-St. Paul-Bloomington, Minn.-Wisc. Milwaukee-Waukesha-West Allis, Wisc. Portland-Vancouver-Beaverton, Ore.-Wash. Boston-Cambridge-Quincy, Mass. Seattle-Tacoma-Bellevue,...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
American Home Shield Is GOLD in My Book    The home warranty company, American Home Shield has proven to me beyond any reasonable doubt that they are everything anyone could ever expect to receive from a home warranty company.  I first met our local Rep, Judee Edgerton (ActiveRain Link) back in 2005 as I was getting started in the local Hemet - San Jacinto Real Estate market.  Judee is just one of those people that you can't help but like.  I had already established a strong relationship with a rep from another company, when I was working 30 miles to the south, in the more lucrative Temecula, CA market.  Yes, my contact did work the Hemet San Jacinto Valley, just as Judee also works the Temecula - Murrieta market area. Truth is that Temecula - Murrieta is a much larger market, with over...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
OK, so during my early morning wake up coffee hour of mindlessly surfing the Internet I came across a YouTube video about yet another free service that Google is providing.  In this case it is for your cell phone.Cell carriers have notoriously charged an expensive premium everytime a user called 411 for information on a business. There have been free services, but they typically had you listen to 30 seconds (an eternity) or more of phone ads in order to access the information you were seeking.It should be no surprise that Google has built the better mouse trap.  Google, you know, recently got into the cell phone business - so I correctly guessed that they would be working on their own custom cell apps.  Well, I have not been disappointed. This 91 second video is not only fun to watch bu...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
I was frustrated because whenever I searched for may address on Google Maps it took me about a block east of where my office is located.  Now, this might not seem like such a big deal...but it was, and let me tell you why. The photos that went with the location showed a vacant field...yikes.  I am in the newest and brightest and best neighborhood shopping center in the entire Hemet - San Jacinto Valley, CA.  And when people look for directions, they find a vacant field...no way.So, I stumbled and played around a bit...not exactly what happened, but it happened.  I now have my pointer smack in the middle of the retail shopping center my business calls home...right where it belongs!Unfortunately for me, I didn't have access to the video that Google has on YouTube explaining exactly how to...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
I have been busy working on a series of detailed marketing report for real estate transactions that have closed escrow in San Jacinto, CA.  My reports have typically been words...I look at the data and see what I think is important and not being reported elsewhere.  I have tried to make the reports as interesting as possible - but they have been just words...and lets face it, no one can make raw data very interesting, for very long.So, I have been playing around in Microsoft Excel and the chart function. While my typical report gets into great detail about each segment of the market, I have not been able to build a chart that easily explains the information I am trying to convey, in a clear, concise manner. Hoverer, looking at specific elements of the San Jactino real estate market I ha...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
market report:  San Jacinto CA  |  7/21/2009 - 8/20/2009  |  CONVENTIONAL Sales and The Market During the period between July 21st, 2009 and August 20th, 2009 there were 126 Single Family Residential Homes that closed escrow.  My previous report in this series, market report UPDATE - San Jacinto CA Real Estate Data detailed the specifics of the market in overall terms.  This segment of the San Jacinto Real Estate Market Report will look exclusively at the 21 of the 126 homes that closed escrow that were bought with CONVENTIONAL FINANCING- representing 16.67% of the entire market.This information is to be considered useful, but please do not rely on it for any financial decisions without verifying the data for yourself.  There are, of course, no guarantees to its accuracy.This report cov...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
The Hemet - San Jacinto, CA real estate market has remained flat as the summer buying season came to an end. This report wants to look back from the period covering August 21st through September 20th, 2009. In particular we will look exclusively at the impact that bank owned homes have had on the market and how each of the four dominant finance types have an effect on the bank owned real estate transactions.The four finance types, of course, are:  Cash, Conventional - typically requiring 25% cash down by the borrower / investor, FHA which is predominately the first time home buyer market and requires a 3.5% down payment by the borrower and finally the VA Loan which limits the borrower from spending any more that $1 out of pocket for the home...including closing costs (which are often fi...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
Do You Have a Cell Phone?  Please Be CarefulI received a warning message from the local San Jacinto Chamber of Commerce.  It was not clear if this incident that is being reported actually happened here in San Jacinto, CA or elsewhere.  The information was posted as a warning to be careful with your cell phone. Apparently a woman had her purse stolen and inside the purse was her cell phone along with her wallet that included all of her identification and credit cards.It took about 20 minutes for her to report the incident to the police.  When she was finished, thinking she had done the right thing, she called her husband, from a pay phone."Hubby" as he was labeled in the woman's cell phone asked why she was calling, that he had replied to her text with the PIN number for both the cards.....
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