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Hemet, CA Real Estate News

By John Occhi, Mobile Notary Public/Certified Loan Signing Agent
(AZ Veteran Notary Services)
Normally, these days I spend most of my ActiveRain time writing articles that are intended to share what I know (or have recently learned or experienced) and apply if to generate business for me. Having been on ActiveRain since June, 2006 and publishing nearly 400 articles, I have shared a bit of my personal life. In previous articles, I revealed that my life revolves around my faith and love of Jesus Christ first and foremost followed very closely by my wife, Sherri. Well, this article is an update on Sherri’s condition. I have received many inquires over the last several months and I suppose I have ignored most of them because of my own denial – not that I did not have time to answer or felt as if what is going on in my life is none of anyone’s business. After all, I am the one who in...
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By John Occhi, Mobile Notary Public/Certified Loan Signing Agent
(AZ Veteran Notary Services)
About the Author:  John Occhi REO REALTOR®, successfully started an REO Team in Hemet, CA that quickly expanded to 3 agents and 2 admin members with over 50 REO properties under his direct control.  He was able to keep approximately 20% of his assigned inventory in escrow at any given time and another 20% entering the pipeline with properties in the pre-marketing phase of the business.  Today John has been sought out to assist one of the largest franchises in America to expand their REO operations into the Inland Empire. The CrestREO REO Home Buyer Protection Program CrestREO has REO sales closings (listings only) that total over $1 billion in asset value.  Imagine how much volume 300+ Century 21 Crest REALTORS® have represented buyers to successfully close REO listings. In order to pro...
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By Lynn Estes
(Prudential Cal Best Realty)
Hemet, Ca. is a relatively small community of less than 100,000 people. We have very few major retail stores, even less nice restaurants, but we do have is seven golf courses! Now I know that the Hemet-San Jacinto Valley was (in the 60's) created for those who had reached the ripe old age of 55, and was, and still is, the perfect town to spend the winter. It doesn't snow here, seldom rains, is located within an hours drive to Palm Springs, the Pacific Ocean, San Diego, and the snow,if you miss yours, all the businesses catered to the "seniors".However, we are no longer "just for Seniors" anymore. We have the second largest man made reservior, and 8 other lakes within an hours drive, we have a water park, a casino rigth here in town, and three others close by. Our housing costs are still...
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By John Occhi, Mobile Notary Public/Certified Loan Signing Agent
(AZ Veteran Notary Services)
No doubt the current market conditions have changed in nearly every real estate market across the country.  In Hemet, CA, we have seen dramatic transformations over a year earlier, which is why it is so important to properly understand the value of a home in today’s market – whether you are trying to buy or sell an REO (Real Estate Owned – bank owned homes) or other property. (The figures reported here only represent the data supplied by the local Hemet San Jacinto Association of REALTORS® - HSJAOR - on the local SoCalMLS and do not reflect the properties that were listed in a neighboring MLS – IMRMLS.  The IMRMLS is used throughout South West Riverside County by Riverside County and San Bernardino County real estate agents from in the Inland Empire, in Southern California, who are not ...
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By John Occhi, Mobile Notary Public/Certified Loan Signing Agent
(AZ Veteran Notary Services)
Hemet CA has continued to experience a dramatic downturn in the real estate market.  This report is based on activity reported by the local MLS, Tempo – SoCalMLS, which is  used by the Hemet San Jacinto Association of REALTORS® (HSJAOR).  There is additional data that can be found in the MRMLS which is the MLS system that the boards in our surrounding markets use. The data analogized in the segment if for the period of February 2008 and how it compares to the activity of February, 2007.  First, it should be reported a 59.38% decrease in the number of closed escrows – dropping from 64 residential properties reported in February 2007 to only 26 in February. 2008. Perhaps the most shocking difference between the two periods is how close the AVERAGE LIST PRICE is, with only a 4.3% differenc...
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By John Occhi, Mobile Notary Public/Certified Loan Signing Agent
(AZ Veteran Notary Services)
Market Conditions: January 2008 – Hemet, CA The downturn in the local real estate market has been dramatic in Hemet CA.  The good numbers are down and the bad ones are up. In January, 2007 the SoCalMLS reports 57 closed residential sales with an average price of $307,936.  January 2008 saw a report with a sharp decline in both the number of closed real estate transactions as well as the value of the sales. January 2008 only has 26 residential properties that closed escrow for an average value of $250,073.  The Hemet, CA real estate market suffered a 52% drop in close escrows and am 18.79% reduction in value over the past year. The dollar per square foot of sold listings (SP/SqFt) also suffer a dramatic slice in value from January 2007 until January 2008 where the SP/SqFt dipped on avera...
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By John Occhi, Mobile Notary Public/Certified Loan Signing Agent
(AZ Veteran Notary Services)
When a REO property is assigned to The REO Team, in Hemet CA and The REO Team has determined that the REO property is vacant it must be immediately secured to prevent unauthorized entry and trespassing by either the former occupant or anyone else who may want to occupy the property, for any reason. Step 1:  Rekey All Exterior Doors It is important that all doors are re-keyed.  Depending on the Bank or Asset Manager, we may be instructed to use a certain key code.  If not, it is best to have your own unique code for all of your assigned REO properties; this will enable easy entrance by authorized personnel without accessing the lockbox for each property. By all doors, I am referring to the front door, a security door if they have one, the garage door (even if detached) leading to the out...
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By John Occhi, Mobile Notary Public/Certified Loan Signing Agent
(AZ Veteran Notary Services)
Buying an REO home or other real estate in Hemet, CA (or elsewhere) can be a daunting experience, at best. The process appears to be fairly straight-forward, from the beginning.  The banks each have their own proprietary addendums to our California Purchase Agreement which ends up negating many of the key provision of our ‘standard’ contract. CONTRACT CLAUSES Probably the most important is that the banks will not (typically) accept the provisions for liquidated damages, arbitration and mediation.  Often time, the buyer will initial these clauses – but the bank will not.  If the buyer’s agent does not pick up on this, then the buyer would be bound by these terms and the seller would not.  I have seen addendums come back after a contract has been ratified by all parties, to exclude these ...
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By John Occhi, Mobile Notary Public/Certified Loan Signing Agent
(AZ Veteran Notary Services)
The question of whether a particular bank owned REO (Real Estate Owned – Bank foreclosure) home is as good a deal as it first appears can only be answered by the buyer performing their own due diligence…and not stopping until they have the answers they need. THE HOME INSPECTION Yes, it is common in Hemet, CA for a homebuyer to hire a home inspection company to perform a routine home inspection.  I have recently found a company that will deliver a printed version of the report on demand at the end of the inspection – while everything is fresh in the minds of the prospective new homebuyer. The inspection should not be about bells and whistles though – it should be on the thoroughness of the report and the knowledge of the inspector.  The inspector should not be preoccupied with his own la...
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By John Occhi, Mobile Notary Public/Certified Loan Signing Agent
(AZ Veteran Notary Services)
Cash For Keys…How I Have Such a Huge Close Rate In a previous article I discussed the theory and mechanics of a typical Cash For Keys program.  In this article I am planning on sharing how I have tweaked my presentation to the point where I have obtained signatures and successful move-outs on 100% my last 5 presentations in Hemet CA REO properties – whereas prior to my adjustment I was only delivering checks to about half of the homes that were occupied when we did our initial occupancy check. STEP 1 – Attitude The first step is to check my attitude.  I am normally an aggressive person, one who lives in the moment and demands instant gratification…OK, I may not be that extreme, but I need to check my attitude. It is very important when making contact that I am humble.  I have to remind ...
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This past Thursday morning I went to Mimi's Cafe in Hemet for Joey Aszterbaum's monthly Real Agent Help breakfast. This month's breakfast sponsor was Active Rain's Heidi Gray. She invited John and Sugar from The Arrid Club to be the morning's speakers. Heidi shared with the group that she is in recovery and has been for many years. She gave much of the credit to the Arrid Club. John and Sugar are two shining examples of people that have turned their lives around. John now is a drug and alcohol counselor and Sugar is proud of the mother and daughter she has become and the fact that she now coaches one of her children's soccer teams. If you want to find out more, send an email to thearridclub@hotmail.com. Joey deserves a lot of credit for organizing this monthly networking breakfast. He ...
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By John Occhi, Mobile Notary Public/Certified Loan Signing Agent
(AZ Veteran Notary Services)
I Don’t Get It?  The Bank Forecloses on Their Home and then Pays Them to Move…or Why Cash For Keys It should be more than obvious, by the time an REO property is assigned to a local Real Estate Agent, that the bank wants’ the property back so they can liquidate the real estate and minimize their losses. Just figure it out…the previous homeowner went at least 3 months without making a mortgage payment prior to the foreclosure process and then another 4 months for the California foreclosure process to weave through the process.  Many times there are even additional months that the bank did not receive payment. So now we have 7 plus months of non-payment – go ahead and add that to the cost the bank has incurred in trying to collect the money.  At the very bottom of the list is the cost of ...
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By John Occhi, Mobile Notary Public/Certified Loan Signing Agent
(AZ Veteran Notary Services)
OK, I have an REO Listing…Now What; Or What is an Occupancy Check? I can remember the thrill I get every time I receive a text message on my cell phone that I have been assigned a new REO listing.  It really is exciting, and yet unlike any other listing you have ever received in your real estate career, up to this point. First thing going through your head is what kind of property is it?  I mean is it a 900 square foot senior bungalow built 50 years ago in the center of Hemet or is it one of the newer homes in a desirable tract – maybe ever 3,000 sq ft or larger.  Does it have a pool – after all summer is right around the corner? Then your mind realizes you have work to do – right then and there.  Yes, I know the bank gave you 24 hours but I can tell you right now if you want more listi...
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By John Occhi, Mobile Notary Public/Certified Loan Signing Agent
(AZ Veteran Notary Services)
REO - Start With a Simple BPO and the Basic Tools of the Trade This series of articles is based on my personal experience as a Hemet REALTOR® who now specializes in listing and selling REO property for banks and Asset Managers throughout South West Riverside County and The Pass Area of The Inland Empire area in Southern California. I know there are numerous paths to REO success – as in anything in life.  Perhaps my path was the hard way, I don’t know, but it worked for me. What I am talking about today is performing BPO’s for various lenders and asset managers.  As I disclosed in a recent article, I started performing BPO’s back in late 2006, getting paid $50 a whack for them.  In those days it was taking me close to two hours computer time in addition to the time I spent driving back a...
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By John Occhi, Mobile Notary Public/Certified Loan Signing Agent
(AZ Veteran Notary Services)
My business today is focused on the REO market and working directly with banks and Asset Managers – taking the REO listings and selling them in our area.  What I would like to do here is answer the question of what does it take to break into this business, as I am asked constantly by agents, not only here in Hemet, CA…but Southern California and across the country as well.  First, I should point out that to be a successful REO Listing agent, do not expect this to be a slam dunk walk-in-the-park listing arrangement.  It is very expensive and very time consuming and definitely not for the weak at heart.  You next need to understand that REO listings typically do not come from a bank, rather from an Asset Manager which is a third party vendor hired by the banks to manage and liquidate larg...
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By John Occhi, Mobile Notary Public/Certified Loan Signing Agent
(AZ Veteran Notary Services)
Busier than a One Armed Man in a Wall Paper Hanging Contest I seem to once again slip from my blogging routine.  Gosh, I know how important a good blog strategy it to any business in this day and age.  I feel like I have taken a step backwards in time, by ignoring my trusted and faithful blog…. So let me just catch up by sharing that life continues to march forward on so many different levels.  I don’t want to consume this with negative news, but I would like to share, because I am often asked about my wife, Sherri.  She has been on hospice care for the last several months, with her cancer.  Last month she took a serious nose dive for 2 to 3 weeks and I really thought we were at the end.  Then, praise God, once again, she literally just snapped out of the spiral and brought herself up t...
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By Diane Ross
(Diane Ross Supreme Service)
What makes me Different?Let’s just say I’m Diane Ross  ;)      Actually speaking of my business point, Staging?Let’s just say someone Has “Moo Moo” kitchen, there is cows everywhere!We have cow border, little cow figures, dish towels hanging with cow print and all the other cow print that you can think of! They now want to sell their house, well a potential buyer just might not appreciate your cute cow collection!Let’s say they have looked at 10 homes, they won’t be able to remember every home! So your house to them is now called the “Cow Kitchen House” Oh yes, believe me that is exactly what happens!You can call a huge “Staging  Business” They’ll take the border down and possibly paint!When their done with your home it will look pretty, But your BILL won’t!!     What I would do?First o...
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By Diane Ross
(Diane Ross Supreme Service)
As I browse through the MLS listings,,,,By surprise I can't believe what I see!!One picture I see the home has dark green carpet, that hasn't been vacuumed in so long.Plain to see in this picture, white particles appear on it. What a Bad first impression I got from it! I just can't believe that the seller is not motivated enough to take five minutes to vacuum and pick up before a agent comes to take the pictures. I just don't understand,, But I do however understand the market, it's hard for anyone to be motivated!It is a buyers market, but that home can be sold! But however with so many homes to choose from. Homes have to be presented with a sparkle! A potential buyer could think that the home wasn't taking care of.  I do believe that the picture are as important ,as the price and sale...
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By Robert Huntsinger, Empire Realty Upland, CA - Full Service at a Discount
(Empire Realty)
There are two ways to lower your property taxes in Hemet which are legal and FREE.1) If you qualify, appeal your property tax assessment2) Claimed your Homeowner's Tax ExemptionAPPEAL YOUR TAX ASSESSMENTHome values in Hemet have decreased over the last year, you may be able to lower your property taxes? This will only apply if you purchased your home or have been re-assessed in the last couple of years?If the above information applies to you, you may be able to do something that will cost you nothing.  This simple process can save you hundreds of dollars in future property taxes.  Lower you Property Tax Bill NOW !Each county operates differently but the simple answer is that all you need to do is ask for your property to be re-assessed.Some counties are proactive and are already plannin...
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By Graham Holmes - Yucaipa Homes Listing Agent, When Experience Matters
(Reviron Realty - RDCPro e-Pro Listing Broker)
Graham Holmes | Mission Grove Realty | 951 634 4118 805 Deleon Ct., Hemet, CA REO in Good Condition! Call Today! 4 Bdrm Single Family House offered at $269,900 Year Built 2003 Sq Footage 1,852 Bedrooms 4 Bathrooms 3 full, 0 partial Floors 2 Parking 2 Car garage Lot Size 9,147 sqft HOA/Maint $0 per month DESCRIPTION This is a great home in a cul-de-sac location on huge lot. This home appears to have been well cared for. Featuring 4 bedrooms, one of which is downstairs next to a full bath. A large living room with dining and a separate family room and kitchen with breakfast bar. Upstairs in a nice loft area and 3 further bedrooms including a spacious master suite with walk in closet. Come see today! see additional photos below PROPERTY FEATURES Central A/C Central heat Fireplace High/Vau...
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