Hemet, CA Real Estate News

By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
I have said for a long time that the Hemet - San Jacinto CA real estate market is one of the most affordable in the country and that a buyer with $200,000 could buy just about anything we have listed in our local MLS.So I got to thinking, what could a million bucks buy in different markets across the country?  so, I jumped over to Zillow to do some research and check out what I found. with a search criteria of $950,000 to $1,25,000...   HEMETUnfortunately, there is nothing in this field in the local Hemet - San Jacinto real estate market, according to Zillow.  What I did find as the most expensive listing in Hemet is a home with 2,881 sq ft  and 3 bedrooms that was built in 1931 on 2.36 acres for $810,000.  The real value here, of course, is the land,   SAN JACINTO Across the valley, in...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
In the Hemet - San Jacinto, CA Valley we have been hit hard, as a community, with more than our fair share of foreclosures and bank owned (REO) homes for sale in our little neck of the woods known as the Inland Empire, CA.As a small board, the Hemet San Jacinto Association of REALTORS (HSJAOR) belongs to SoCalMLS which uses the SentriLock electronic lock box system.  Every board that surrounds us uses the Supra system.  The two are not compatible.  At a cost of almost $100 per lock box and an inventory of over 20 lock boxes, I am not interested in investing into a new system.What bothers me is when out of the area agents get listings in this market and install their Supra Lock boxes on inventory in this market - thereby locking out local agents from selling local inventory.This is not a...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
The Dawn of a New Decade brings the Dawn of Consumer Rights When Shopping for a MortgageJanuary First is typically a day when many new laws across the land become effective...and this year is no different.  The Department of Housing & Urban Development made one very important change to the Real Estate Settlement Procedures Act of 1974 law that is known as RESPA in the industry is now mandating that ALL mortgage lenders provide the consumer with the same information in the same format.There is no doubt that this is too little too late for the homeowners who are currently at risk of losing their homes, but had these new rules been in effect 5 years ago, there is a good chance we would not be experiencing the meltdown of the American economy that we are.  I have no doubt this will definite...
Comments 77
By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
Buying a home has many different aspects.  As a REALTOR® my job begins when I first meet my buyers and LISTEN to what they are looking for.  If I believe I can HELP - then we are off to look at houses, until we find the right home in the right neighborhood.My job, as a REALTOR® then progresses as I help draw the offer, making sure we cover all of the important issues to my buyer and structure the offer so we have the best opportunity to beat out other offers that are probably competing for this home, in the current market.My job is to negotiate and do the best I can for my buyers to help get their offer accepted and an escrow open.  My job then is to make sure my buyers have at their disposal my team of third party vendors and allow them to select and schedule a home inspection.Once, th...
Comments 59
By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
Start by finding out its worth. Contact a Top Agent for a comparative market analysis, an informal estimate of value based on the recent real estate selling price of similar Hemet - San Jacinto, CA neighborhood properties. Or get a certified appraiser to provide an appraisal.My own personal speciality is to provide a proprietary Master Market Analysis, or MMA - it's like a CMA on steroids. Next, get busy working on the home's appearance. You want to make sure it is in the best condition possible for showing to prospective buyers so that you can get top dollar. This means fixing or sprucing up any trouble spots that could deter a buyer, such as squeaky doors, a leaky roof, dirty carpet and walls, and broken windows. The "curb appeal" of your home is extremely important. In fact, it is th...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
When selling a home in any real estate market, one of the most important things to consider is price. You may want to reduce the price of your home or, at the very beginning, set it at a low price that will generate more buyer interest.  You will best be served by getting in front of the market, when trying to sell your Hemet - San Jacinto, CA home rather than chasing the market with price reductions.Cash is often an incentive, both for the buyer as well as the agent. You could offer the buyer a $1,000 to $2,000 decorating rebate upon closing the deal. It is also not uncommon to offer the selling agent (buyers agent) a $500 bonus or more for closing escrow by a certain date. However, some brokers-who supervise agents and run real estate offices-may prohibit such incentives, as do some R...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
Once furniture is removed from the home, you will notice all kinds of imperfections you never paid attention to before-rips in the carpet, holes in the walls, and dinginess.  In an empty Hemet - San Jacinto, CA house, everything stands out.  What you see is what potential buyers will also see. So you may need to paint, tear up old carpet, and replace the kitchen floor.  These repairs are often referred to as "Cosmetics" and if done right should not only recoup the cost of the cosmetic repairs but be able to separate your Hemet - San Jacinto, CA home for sale from the other homes buyers will be considering in the real estate marketplace.To get rid of the "empty house" feeling, leave a few pieces of furniture behind-simple things like a lamp, chairs, and a table will do.  Maybe an inexpen...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
As an active REALTOR® in the Hemet San Jacinto, Ca real estate marketplace, I am repeatedly asked specific questions about today's real estate market - especially in today's economy. In an effort to provide more information to my community, I am publishing this Top 5 in Real Estate Social Networking Systemsm "e-Article," in which I provide useful real estate information to my real estate networks. If you find the enclosed information beneficial to your family and friends, I encourage you to forward it to your "social network" as well.   Moving Up in a Down Market - What the Media Isn't Telling You about Real Estate We've all heard of the vast fortunes made during the Great Depression of the 1930s, but what about the opportunities available in today's Great Real Estate Recession? Are you...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
The new year and the second decade of the 21st century is only a few days away.  Doesn't seem that long ago that we were all panicked at the Y2K bug possibilities and the unknown of the 21st Century.  Certainly with the events of 9/11 and the wars in the Middle East, it has not been Utopia.Life does go on, and here we are near the bottom of one of the worst economic cycles this great nation has ever experienced - and we still are not clear if the real estate market in the Hemet - San Jacinto Valley, CA will take another dip as a shadow inventory or bank owned foreclosure homes are released for sale.I guess the short answer is no one really knows what the future holds - my own crystal ball is in the shop, waiting for parts to be shipped on a slow boat from China.What can be said about th...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
I hear this a lot.  As a matter of fact, earlier today I posted a blog using video clips from the musical, "The Music Man" to show some very important sales skills.  In case you missed it, you can check it out here - How is "The Music Man" Like Real Estate Sales?  Personally, I thought it was a pretty good post and a lot of fun - especially if you like old musicals.One of the comments was short and simple - it said, "It's really all about building relationships."I HAD TO THINK - RELATIONSHIPS?We all over use terms and follow trends - more often than not, without even being cognizant about it.Relationships. in my opinion, are all about sharing the good and the bad.  See, I consider a relationship to be a two way street - give and take.  My wife and I have a very strong relationship - we ...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
When a local Hemet - San Jacinto CA REALTOR meets with a local homeowner to discuss selling the home as a short sale, the topic of conversation turns to the documentation that the seller will have to produce to establish the fact that they can no longer afford to keep the home.  I often tell the homeowner it is as if they are un-qualifying for a home loan. Each lender has their own formats of how they want the package submitted for their review and ultimate approval. Yes, you will find similarities between various lenders - but you must understand and respect they are individual entities and want things done their way - if you want them to cooperate with you. It is critical that your package be complete. You will find that time is not your ally and if they have to come back to you for a...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
Anyone who knows me or reads my blog knows that I am an advocate of local shopping; in particular when it comes to Real Estate. I never could understand the logic of a local resident going to an agent 50 miles away (or further) and having them list their home for sale...just because they may know them or be related. The key has always been that local area experts do a better job of marketing a home for sale and end up with a higher price. Well my advocacy extends beyond Real Estate and into the local community retailers, as well. Here in the Hemet - San Jacinto Valley, CA we have not one but two Super-WalMarts, that I have blogged about and questioned their 'job creation' and how most things there today, appear to be made in China. SO WHAT IS THE 3/50 PROJECT? I found a site on the web ...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
Short sales in the Hemet - San Jacinto Valley, CA are a complex sale of residential real estate where the net proceeds from the sale of the home are insufficient to cover the sellers mortgage obligations as well as the closing costs that may include, but not be limited to, property taxes, transfer taxes and real estate commissions.  Many homeowners in the Hemet - San Jacinto Valley, CA What really makes a real estate transaction a short sale is all of the above AND the seller is unable or unwilling to cover the difference.  Short Sales go by different names in different parts of the country, including Selling Short, Short Payoff, Pre-Foreclosure and Upside Down.  While the information shared in this article may be mostly universal to real estate everywhere, the article is focused on the...
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By John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate
(Mason Real Estate)
Christmas in the Park is part of the annual celebration that takes place every year with the Christmas Parade.This year it definitely felt like Christmas - with a little Jack Frost nipping at everyone's faces.  It was nice to see people bundled up and looking Christmasey...although I'm sure miss the warm days I know we are all glad there was not any rain...which might be here by tomorrow.Well this year the event was bigger than ever...114 vendors.  There were lots of crafts and Christmas ware.  There were organizations doing their part to remind us of the 'Reason for The Season' and of course there was more than one church represented, praising the Glory of the New Born King - Jesus Christ, my personal Lord and Savior.I took the opportunity to take a photo of almost every booth and put ...
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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…
Comments 7
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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