residential: The Silver Lining to the Dark Cloud of Recession – Property Taxes - 02/21/10 10:24 AM
It is no secret that the value of your home has sunk to the murky bottom, just like the titanic did a century ago.  You are so far underwater that if you had to hold your breath until values returned to where they peaked, you would be introduced as Mr./Mrs. Blue.Across the country, property owners' property taxes are reassessed every 2 to 5 years to bring the assessed value in line with the fair market value.  Here in California we have a special way of assessing taxable values, thanks to the 30-year-old amendment to the state constitution - Proposition 13.  Prop … (7 comments)

residential: San Jacinto, CA | Market Report | List vs. Sold | 12 Month Snapshot - 11/23/09 05:14 PM
San Jacinto, CA at the north end of the Hemet - San Jacinto Valley has been one of the hardest hit areas in the country when it comes to foreclosures and the loss of value in residential real estate.  For those who review the data on a national level, the Hemet - San Jacinto Valley is in the Southern California Region known as the Inland Empire which consists of San Bernardino and Riverside Counties.The MLS data shows that there have been 1,841 homes added to our inventory over the past 12 months (November 2008 thru October 2009) of which 1,501 homes … (0 comments)

residential: Hemet - San Jacinto CA Bank Owned Homes and FHA Loan Requirements - 09/16/09 07:12 PM
The Southern California community of the Hemet - San Jacinto Valley in the South West Riverside County section of the Inland Empire Region has been one of the hardest hit in the entire country for it's loss of owner occupied homes being seized by lenders and converted to bank owned, or REO, properties.Once the banks finally take possession they must be cleaned up- and made ready for sale, often by the REO Listing Agent assigned to these assets of the bank.  I know, this is what I do.Since the Hemet - San Jacinto CA market has traditionally been one of the … (2 comments)

residential: SAN JACINTO, CA MARKET REPORT | 7/21/2009 - 8/20/2009 | Financing Types - 09/13/09 07:29 PM
In the previous article in this series we took a general look at the AVERAGE HOME that sold In San Jacinto, CA during the period of July 21st, 2009 through August 20th, 2009.  We learned that there were a total of 110 homes that were sold and closed escrow for an average sale price of $130,834.In this section of the Market Report for both the combined 92582 and 92583 zip codes we will look at the data as it relates to the type of financing used to buy the properties that were for sale.This information is to be considered useful, but … (0 comments)

residential: San Jacinto, CA MARKET REPORT: SOLDS | 6/21/2009 - 7/20/2009 | VA LOANS in the MARKET - 09/08/09 01:19 PM
The last segment of the market that we will look at for this report on the homes sold in San Jacinto, CA during the period of 6/21/2009 - 7/20/2009 are for the homes that were financed with a loan for our veterans - either VA or CalVet.  These loans are unique in that the Veteran is not suppose to use any of their own money to buy the home - and that includes closing costs.VA Loans are a very small section of the market - the 5 VA Loans that closed escrow during this period in San Jacinto only amount to … (1 comments)

residential: San Jacinto, CA MARKET REPORT: SOLDS | 6/21/2009 - 7/20/2009 | FHA LOANS in the MARKET - 09/08/09 12:47 PM
In San Jacinto CA, as throughout the rest of South West Riverside County and the Inland Empire region of Southern California the most popular way to finance a home purchase today is with an FHA Loan that only requires a 3.5% down payment and must be owner occupied.Homes purchased with FHA Loans represent 44.5% of the Total residential homes sold in San Jacinto with 49 of the 110 residential real estate transactions during the period of June 21st, 2009 through July 20th, 2009.There are several differences between the homes purchased with the popular FHA Loans and other types of financing.First off, … (0 comments)

residential: San Jacinto, CA MARKET REPORT: SOLDS | 6/21/2009 - 7/20/2009 | CONVENTIONAL LOANS in the Market - 09/08/09 12:12 PM
Conventional loans typically require the borrower to have a larger down payment that government type of loans, such as FHA or VA.  Conventional loan down payments in San Jacinto CA from the period of June 21st, 2009 through July 20th, 2009 accounted for  22.7%, or 25 residential homes for sale, closed escrow.Aside from the amount of down payment a borrower must put down on a Conventional Loan, there is not a requirement for the borrower to live in the home.  Therefore a conventional loan is a common way for an investor to finance their real estate investment property in San Jacinto, … (0 comments)

residential: San Jacinto, CA MARKET REPORT: SOLDS | 6/21/2009 - 7/20/2009 | CASH SALES & THE MARKET - 09/07/09 09:40 AM
CASH SALES & THE MARKETIn the next 4 sections of the San Jacinto Real Estate Market Report for the period covering 6/21/2009 through 7/20/2009 we are going to look at how each type of financing affects the market and compare to the AVERAGE SOLD HOME in San Jacinto during this same period.  In this section, we will be looking as CASH SALES.
 
From our Earlier Report we learned that the AVERAGE SOLD HOME in San Jacinto had 2,135 square feet of living space and 3.76 bedrooms with 2.3 bathrooms and that it was built in 1979.The Cash Sales of San … (2 comments)

residential: San Jacinto, CA MARKET REPORT: SOLDS | 6/21/2009 - 7/20/2009 | FINANCING by TYPE of SALE - 09/06/09 04:58 PM
FINANCING by TYPE of SALEIn this segment to the San Jacinto Real Estate Market Report of SOLD Activity between the dates of June 21st, 2009 and July 20th, 2009 I will take a look at the various types of financing and see what effect, if any, they have on each type of Special Condition that exists in the current real estate market.Of the 110 Closed Escrows in San Jacinto, CA during this period there was one property that has a red flag on it when I examine the public records.  It was listed as a "Standard Sale" and the financing type … (2 comments)

residential: San Jacinto, CA MARKET REPORT: SOLDS | 6/21/2009 - 7/20/2009 | Averages by Type of Sale - 09/06/09 04:51 PM
This report is part of the series of articles published as the San Jacinto CA Real Estate Market Report for Sold properties between June 21st, 2009 and July 20th, 2009.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. (As an afterthought, I added my own numbers to this San Jacinto Market Report for the same period with the 4 homes I sold in the same San Jacinto Market, during this same period.  My personal differences will be published … (0 comments)

residential: San Jacinto, CA MARKET REPORT: SOLDS | 6/21/2009 - 7/20/2009 | The Average Home - 09/06/09 04:42 PM
This is a follow up series of article to the series I previously published analyzing the San Jacinto Real Estate Market from May 20th, 2009 through June 20th, 2009.  This market report covers the next 30 days from June 21st through July 20thm 2009; looking at all of the Residential Homes that SOLD in San Jacinto during the period.  Data was gathered from the SoCalMLS, downloaded and analyzed in Microsoft Excel.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 … (2 comments)

residential: Hard Money is a Good Thing for Real Estate Investments - 09/03/09 02:32 AM
Hard money is often misconstrued in society.  There are always visions of a couple of thugs in a pool hall loaning out money at exorbitant interest rates who result to violence and intimidation when payments are late.Well, I am here to tell you that hard money is anything like that at all.  Hard money is a very powerful tool that every investor should consider utilizing to it's fullest in order to leverage the money the investor has - to make more money by buying more real estate in this volatile market.Hard money loans are always secured by real estate - typically … (9 comments)

residential: Back to the Basics: Buyers Checklist – What’s Negotiable? - 09/02/07 09:27 PM
Back to the Basics: Buyers Checklist - What's Negotiable?   by John Occhi, Hemet CA REALTOR                                              FOR MORE ARTICLES FROM THE "BACK TO THE BASICS" SERIES, CLICK HERE
  
"Back to the Basics" is my way of re-educating myself on the basics of real estate.  Yes there have been some great changes in the time I have been selling real estate in Hemet and San Jacinto and throughout Riverside County, the Inland Empire and the rest of Southern California.  The truth though is very little has changed when we talk about the basics and the basics are what made many REALTORS® successful in … (4 comments)

residential: Back to the Basics: Buyers Checklist - Let's Write an Offer - 09/02/07 08:16 PM
Back to the Basics: Buyers Checklist - Let's Write an Offer   by John Occhi, Hemet CA REALTORMission Grove Realty                                        FOR MORE ARTICLES FROM THE "BACK TO THE BASICS" SERIES, CLICK HERE
"Back to the Basics" is a series of articles that I am publishing as I reassess my own business and review the materials that I used to initially learn this great business we call Real Estate. 
                                                                                              
Unfortunately, many of the items I have saved on my computer do not reference their original source, to give credit to, so I do not take full credit for developing the material.  However, in most … (8 comments)

residential: HEMET MARKET ANALYSIS - EXPIRED LISTINGS - DECEMBER 2006 - 02/11/07 02:50 PM
HEMET MARKET ANALYSIS - EXPIRED LISTINGS - DECEMBER 2006  by John Occhi, Hemet CA REALTORReal Estate, Hemet CA
In an earlier blog article I looked at the Expired listings throughout the year 2006, but I never finished December, since I wrote the last article on the subject on December 31st - and believe it or not, but in the last day of the year 7 more properties expired.
Before we get too deep into the Expired listings and what they mean to the market, let's take a look back at the blog I wrote last month, comparing 2005 and 2006.  Here is a … (0 comments)

residential: Analysis of the Hemet REAL ESTATE MARKET Part 2 - SOLDS - 01/26/07 11:52 AM
Analysis of the Hemet REAL ESTATE MARKET Part 2 - SOLDSBy John Occhi, Hemet REALTOR®Hemet CA REAL ESTATE
An in-depth look at the analysis of SOLD properties covering a 2 year period, broken down by month, comparing the numbers to the previous month as well as the same period a year earlier.  This is a close up accurate snapshot of what has really happened in the Hemet Real Estate market - it is not about feel good opinions - it is fact, followed by my personal analysis on a month to month report.
Earlier this week I posted an article where I analyzed … (1 comments)

residential: What Has Happened in Hemet, During the Past Two Years? - 12/31/06 12:41 AM
What Has Happened in Hemet, During the Past Two Years?A  Quick Look back to 2005 - A Place to Set the Barby John Occhi, Hemet REALTOR
As the year winds down and the final figures are on their way to "the books", it's time to take a close look at what has happened.
In order to fully look back at 2006 and the local Hemet Real Estate Market, I thought it was as important to look at 2005 as well.  After all, if I tell you we had 50 expired listings last month, what does that mean to you without having a place … (4 comments)

 
John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate (Mason Real Estate) Rainmaker large

John Occhi

SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate

Temecula, CA

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