Hemet

Where are the jobs in Hemet?

With unemployment at nearly 14.5 % in Riverside County,  Hemet is amongst the cities with a high rate of skilled workers ready to return to the work force yet these workers are unable to find local work.
Hemet suffered from the real estate melt down in ways that are still rippling through the local economy. An example is, many people had moved here in the early to mid 2000’s because of lower home prices. With work just down the freeway an hour or three. Housing cost was
1/3 less than the same size house in Orange Co. or LA County.

Hemet jobs are few and far between. When asked what industries are in the city. 

Here are my answers.

  1. Healthcare
    Retail Stores
    Fix it services
    Manufacturing (next to none)
    Building, another (next to none)
    Help wanted work from home jobs ( moving up )

.
Right after the turn of the century so many people thought “get while the getting is good” and they were so, so wrong.
Today when you drive through Hemet neighborhoods you can see the so called
“Deal Homes” one right next to the other that have been foreclosed on.

This is another example, I went  just west of downtown Hemet and I found one city block consisting of eight homes per side of the block with a 70 % of the home being vacant.. When looking on one side of the street six of the homes are bank owned properties that had been foreclosed. On the other side of the street I saw four homes that had been foreclosed on.

No matter where you go in Hemet you will find bank owned properties.
Something I have seen recently is brokers are selling homes to investors, who later find that as an investment buying a bank owned property in Hemet was not a good idea. When buying a bank REO home as an investment one may expect to rent out the property. If you can not find a renter what good is a rental investment home?

For rent signs are in every neighborhood. If you start looking at the commercial availability,
Hemet is abundant in vacant establishments from an old Wal Mart to a closed Albertsons and Hollywood Videos. Needless to say so many mom and pop shops are now abandoned.

First time buyers and investors beware of buying Hemet foreclosure homes. If you are thinking fliping a house or renting it out as an investment you might want to think again.

This is a true story,
One friend of mine had ran an ad for his rental.  The ad ran for 2 months before he was able to rent his place. He was only asking $800 for a two bed 2 bath on 5 acres.

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Posted in Hemet business listings by He met. No Comments