San Jacinto, California Real Estate REO Bank-Owned, Short Sales and Standard Sales Activity San Jacinto, CA consists of many neighborhoods from the zip codes 92582 & 92583, like Country Lake, Downtown San Jacinto, Durango, Meridian Estates, Park Hill, Rancho San Jacinto, Sagecrest, the Soboba Indian Reservation, Soboba Springs and Torino. This is a monthly Real Estate report of REO Bank-Owned, Short Sales and Standard Sales Active Listings, Closed Sales and Pending Sales from December 2009 to January 2010 in San Jacinto, California.   Active REO Bank-Owned Listings for San Jacinto, CA:                         56 Active Short Sale Listings for San Jacinto, CA:                                     123 Active Standard Sale Listings for San Jacinto, CA:                               24   Clo... 01/21/2010

With the recent change in HUD policy allowing investors to purchase homes and flip them right away and not forcing them to hold title before they can be sold with FHA financing will definitely help the flipper but drive the first time home buyer away from the distressed homes for sale in the Hemet -San Jacinto CA valley. The investors have the cash and the first time buyers have the credit.  all of the good deals are bought quickly with cash buyers and the FHA buyers are cut out of the market - especially if there is a low appraisal on the property.  So, what we are going to start seeing even more of is real estate investors taking advantage of the market and buying, rehabbing and selling turn-key home to first time home buyers.BUYER BEWAREWhen a flipper takes possession of real estate,... 01/17/2010

California Voters started a Tax Revolt in 1978 with the passage of both Prop 13 and Prop 8.  Now the glory has always gone to Prop 13 as that is the voter mandated constitutional amendment that directed the County Assessors to roll back assessed value and to limit the way property taxes could be assessed for the future.Prop 13 is an incredible piece of legislation and has saved Californians billions nd billions of dollars, if not more, since it became law in 1978.  However, without it's cousin Prop 13 would be a very evil law right now, considering the rapid decline in value experienced across the state over the past 3 years or so.AN EXAMPLEYou purchased a Hemet - San Jacinto, CA home in 2005 for $500,000.  The assessment is for the same amount - $500,000 - creating a 'base value', as f... 01/17/2010

Governor Schwarzenegger delivered his last State of the State address to a joint session of the California State Legislature, Wednesday January 7, 2010, and took the time to propose some pretty controversial ideas for stabilizing the economy in the Golden State.Of particular interest to the Real Estate Industry is his proposal to allocate another $200,000,000 tax dollars to subsidize homebuyers with a tax credit that would provide up to $3,333 off of state taxes for each of the next three years.This program is very similar to the $100,000,000 that was given away for buyers of 10,600 new homes between March and June, 2009 - when the money ran out.  Unlike last years state tax credit that limited buyers to the purchase of new homes, this year the Governor wants the program expanded to inc... 01/08/2010

2010 is going to be a year like no other.  I believe it is naive to think that 'business as usual' will be taking place when we return to work on Monday morning and expect it to be the same throughout the coming year.Yes, it may not seem very obvious at first.  Maybe you'll have a buyer that you need to get pre-qualified and you call your lender thinking they can throw something together for you over the course of 15 minutes or so.  You may become disturbed when your lender says that they are no longer allowed to provide this service without documentation, as per their corporate attorneys and the new RESPA rules.So lets say you get past this hurdle and in a month or so, the new process - whatever that may be - is in effect and you finally got a couple of new escrows open, after jumping ... 01/04/2010

Now I am a REALTOR and do not pretend to be an expert on the loan side of the real estate industry.  I often rely on the SEARCH feature of ActiveRain to find details on topics I want to research.  Well, today I drew a near blank.You see, I was spending some time researching changes in the industry that took place on January 1, 2010 and ended up at the FHA site.  Scrolling through a list of articles published by the FHA I found something that was very intriguing and actually fascinated me once I looked deeper at the section 245(a) loan... FHA Growing Equity MortgagesFHA Mortgages for Homeowners with Increasing Income It just turns out that I have a client relocating from Las Vegas to my little burb.  The problem they have is not credit or cash...it's income.  You see, the husband is an e... 01/03/2010

Our first 4 projects are underway under our newly formed company, Pacific Servicing. We purchased the properties at the Riverside County courthouse during trustee sales. The properties are located in Riverside, San Jacinto (2), and Banning. 3 of the 4 properties (All purchased in the past 30 days) are currently in escrow, 2 of them with cash closes of 15 days or less. Our 3rd home is in a VA escrow, and our 4th is in the finishing stages of an eviction and we will have possession next week. All properties were purchased 20-35% below what the current market value is based on our evaluations. The turn times will average 45-60 days. We have had amazing success on our first go around of purchasing multiple properties in the same week. We have been working out all the kinks, from properly ho... 12/31/2009

The San Jacinto Real Estate Marketplace has been dominated with Distressed Properties.  Unfortunately,  the data is not very accurate, because until recently many Short Sales were not reported in a search-able field in the MLS as a Short Sale.By looking at this data you can see that this market peaked in the number of listings over a year ago.   By looking at this next chart you will see how quickly bank owned REOS have sold in comparison to Short Sales in the San Jacinto, CA real estate marketplace. 12/28/2009

Winding doen 2009 and looking forward to the future you have to know where you have been if you want to know where you are going.Planning my marketing and business plan for 2010, as an REO Listing Agent, I have taken the opportunity to examine how many REO Listings we (as a market - not my personal production) have had assigned just in the city of San Jacinto, CA, going back to January 1st, 2007. By looking at the above chart it is apparant that from May of 2008 through May of 2009 that there was more than enough business to keep everyone happy and busy.  The peak in assignments was October, 2008 with 158 REO homes for sale hitting the MLS, for the San Jacitno CA Real Estate marketplace.  Since then there has been a steady decline with only a few peaks to stop the slide completely...to ... 12/28/2009

A universal question that homeowners everywhere, including the Hemet - San Jacinto Valley, CA, must ask themselves as they prepare to either buy or sell a home - a decision that will have an impact on their lives for years to come. I strongly believe that "All Real Estate is Local and Your REALTOR® Should Be Too!"  So, to begin with, think locally. Select someone who is very familiar with your neighborhood and the properties for sale in it. Then, if you are selling, say, a condominium, choose an agent with expertise selling apartments to potential homeowners. Because you will want the widest possible exposure for your home, you also will want a real estate firm that works with other agencies to get your property sold. The Multiple Listing Service (MLS) used by Realtors, licensed members... 12/27/2009

The year 2010 is going to be an excellent year for the repeat buyer to move up in this down market.  The Hemet - San Jacinto real estate marketplace is a field of dreams for repeat buyers with equity in their existing homes.  I have been covering various aspects of this concept in a number of articles I've recently written.In this article, I want to answer the question many Hemet - San Jacinto homeowners contemplate and need to know how to proceed.  The question, of course, "Should I sell my current home before I buy?" and then, "What Happens if I can't find the right home - I don't want to feel pressured?"The problem that most repeat buyers have is they will not qualify for a mortgage on their new home until the old home is sold.  Anyone considering selling and taking advantage of the ... 12/27/2009

The San Jacinto REal Estate Market has seen a steady decline over the last 5 years.  For the most part, the List Price and Sold Price   When looking at the number of listings that have come on the market over the past 5 years you can see that we have sold an awful lot more of our inventory than we have replenished The CURRENT ACTIVE INVENTORY in SAN JACINTO, CA consists of ONLY 228 ACTIVE Listings of which only 50 are REO Bank Owned homes for sale, per the MLS as of the time of the writing of this article.  Of the remaining178 Active Listings in San Jacinto, CA, 127 of them are Short Sales.  This leaves just 51 homes for sale in the MLS that are either probate, Standard Sales or Flips - most of which are flips.   12/27/2009

Well, I came up with an idea yesterday for creating a new niche in the Hemet - San Jacinto Real Estate marketplace - one that I believe no one is targeting.  You can read the general outline of this untapped market at the article I published, called - 2010 - Creating a New Niche in the Hemet - San Jacinto Valley, CA Real Estate Marketplace.Well, this has been consuming brain cells in the back of my brain and with some simple playing around this morning - I have figured out how to identify those who fall into this market...and it was very simple, too.In my MLS we have access to ReaList - this is a Title product supplied to the MLS, free to the members, that gives us access to basic property information.  Well, ReaList has a feature I've used a handful of times, and almost forgot about - ... 12/23/2009

Questions to Ask an agent Interested in Selling Your Hemet - San Jacinto CA Home When considering the sale of your Hemet - San Jacinto Valley, CA home you should Interview at least three local agents who sell homes in your community. Ask them about the following: Home Value. The agents should inspect the home and prepare a written Comparative Market Analysis, or CMA.  The report will cover similar homes to yours based on age, size, features and location.  The other homes considered will include Active MLS Listings, Sold MLS Listings in the last 3 months and Pending MLS Listings to gauge the direction of the Hemet - San Jacinto, CA real estate marketplace. Marketing Plans. These are a must. The difference is selling your home for top dollar will come down to how your home is both merchan... 12/22/2009

The best time to sell a home in the Hemet - San Jacinto, CA Valley is when you are ready, or when you must.   That is, when you have outgrown the space in your current home, or you prefer to trade down to something larger or smaller. Perhaps your martial or family status has changed, which necessitates a move, or you need to relocate for a job. Market conditions also play a role, as do seasonal conditions. For example, your chances of getting top dollar for your home are more likely in a seller's market, when demand outweighs supply, than in a buyer's market. Local and national economic factors also may dictate when to sell. If a major employer in your area is laying off workers, it may not be a good time to put your home up for sale. People will be cautious about buying when the future... 12/20/2009

Once your Hemet - San Jacinto, CA home is available to be shown, strive to keep it in tip-top shape. This will require a lot of effort on your part, but you want buyers to feel welcomed and not turned off by unmade beds, cluttered floors and grungy bathrooms. Remember, you never know when a buyer will want to see your home - and there may not be anyone at home to make the necessary arrangements.Realize, too, that your life will be temporarily inconvenienced, when selling real estate. When an agent-yours as well as others-calls wishing to bring a buyer to see the home at the last minute or on the same day, respond favorably. Remember your goal is to get the home sold, and that can only be accomplished if people get to see it. Flexibility is the key to a quick sale.Plan not to be present ... 12/20/2009

It does not matter if you are looking to buy or sell real estate in the Hemet - San Jacinto CA marketplace, there are going to be costs associated with the transaction.  There are times when the seller will cover the costs for the buyer or perhaps the buyer may even be eligible for a grant, such as the one that the City of San Jacinto is currently offering for First Time Homebuyers.  I have a local expert, Hilary Wilkinson form Patrion Mortgage (Altura Credit Union) that knows more about all of the various programs and assistance available than anyone I have ever met - this is her passion and she is always on top of the changes as they take place.Besides the costs related to making repairs and improving the overall appearance of the home, as the seller you will also need to pay the foll... 12/20/2009

The Internet is such a fickle place - what is hot today is like bell bottom jeans of yesterday... just so out of style. 2009 has seen an explosion in the world of Social Media with the growth in popularity of sites like Twitter, Facebook and LinkedIn. Because of this, the golden child of 2008, "The Blog" appears to some to be yesterdays news. It is my personal belief that the blog as we know it today, will definitely continue to evolve - but I also believe that the blog is and will continue to be the very foundation of social networking, or social marketing, or social media as the phenomenon is also referred too. You see, with Social Networking sites - all anyone is able to do is give glimpses as to what is happening. Often times a tweet or a comment on a wall is just a teaser of wha... 12/20/2009

This is a tough decision, but the answer will depend on your personal situation, as well as the condition of the local Hemet - San Jacinto CA housing market at that time. If you put your home on the real estate market first, you may have to scramble to find another one before settlement, which could cause you to buy a house that does not meet all your requirements. If you cannot find another home, you may need to move twice, temporarily staying with relatives or in a hotel. On the other hand, if you make an offer to buy first, you may be tempted to sell your existing home quickly, even at a lower price.  The advantage of buying first is you can shop carefully for the right home and feel comfortable with your decision before putting your existing home on the market. On the flip side, the... 12/20/2009

2010 - Creating a New Niche in the Hemet - San Jacinto Valley, CA Real Estate MarketplaceI just love it when the local Hemet - San Jacinto real estate market slows down for the winter and over the holidays.  Not only does it give me more quality time with my loved ones, but I get to spend the time looking hard at my business to see what I have done - good and bad - and what I want to change and add to the business model for the new year - 2010.I find it exciting . . . especially when I come up with a new idea that I think is going to pay off and maybe even payoff big time.  I am working out the details to target the ‘repeat buyer'.  We should all know by now that with the extension of the $8,000 tax credit for the first time homebuyer that Uncle Sam is offering the repeat homebuyer with... 12/19/2009