Solds_for_the_week_of_05-05-12[1]
Single Family Residential
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Actives:
San Benito County-78 of which REO/Bank Owned-9 or 11.5%, Short Sales-15 or 19%
Hollister-42 or which REO/Bank Owned-7 or 17%, Short Sales-14 or 33%
Pendings:
San Benito County-195 of which REO/Bank Owned-30 or 15%, Short Sales-121 or 62%
Hollister-161 of which REO/Bank Owned-21 or 13%, Short Sales-104 or 65%
Absorption Rate:
San Benito County-.4 months supply of inventory or 12-Days
Hollister-.26 months supply of inventory or 7.8-Days
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Solds for the Week: 17
High: $570,000 REO/Bank Owned, New Conv 1st
Low: $162,500, REO/Bank Owned, All CASH
Full-Price/Over-Asking: 9 or 53%
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Sale Type:
REO/Bank Owned-8 or 47%
Traditional Sale-6 or 35%
Short Sales-3 or 18
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Financing Type:
New Conv 1st-6 or 35%
FHA Loan-5 or 29%
USDA Loan-24%
VA Loan-1 or 6%
All CASH-1 or 6%
We have all heard the horror stories of months and months of waiting only to have the short sale declined at the very end. But the system does seem to be improving for most lenders across the board.
But whether you are a seller or a buyer..you need to approach the short sale process with patience and knowledge (and of course the Real Estate Professional to guide you thru it all).
Sellers – Being proactive is key. As I explain to my sellers, my goal is to get your home sold and closed as quickly as possible. I want to try to save your credit as much as possible..so that you might have the opportunity to buy another home in the near future. To do that I provide my sellers with a list of items that I need them to keep handy just in case I need it at a moments notice.
Buyers – When I represent Buyers that are purchasing a short sale, we have to remember that we must have patience. Sometimes short sales can go quickly, but an average of 90 days for short sale approval.
For buyers and sellers in a short sale I also remind them that no news from me is typically good news. While I am calling, emailing and faxing the lender at the very least on a weekly basis (sometimes daily)…if the ball is rolling and making progress that is good news.
If you or someone you know could benefit from my services, please feel free to contact me.
Being new to Real Estate sales I am still surprised when I answer my cell phone and the person on the other side is surprised to hear my voice, thinking that they have reached my voicemail. I think most people in the business, including our clients expect to always receive a voicemail. These people are also surprised when their emails are immediately responded to. Now, first..I am not perfect, but if I am up and my phone rings..I answer it. If I have my email open on my computer, or my cell phone alerts me…I will try to immediately respond to my emails. Sure there are moments when I have a time sensitive project that I need to get out, or I am meeting with clients and will turn my ringer off. But when I am finished, if I have voice mails I will return them as quickly as possible.
But I have also met new people who have become my clients because their previous agent just didn’t work for them. They were the ones perusing Internet sites looking for property that fits the criteria of what they are looking for, then calling their “agent” to see if he or she can give them information or set up a viewing. When I have explained to these new clients of mine (thank you to their previous agent), that I can set them up on an MLS alert that will notify them as soon as a property hits the market with the characteristics they are looking for, their immediate response is “why didn’t our previous agent do that”?
When I first started working one of the first lessons my Broker taught me was that if a person called on one of our listings the first question I asked was “are you working with an agent”? I learned then that although the majority of the calls came from people who were indeed committed to an agent, they went on to say that they couldn’t get ahold of their agent, or their agent was attending a family function, or hadn’t even returned their phone call. And of course they have to see the property immediately! I even had one such person call me and I explained that if she was working with an agent, her agent could make arrangements to preview the property with her. Not five minutes later…her agent (who worked for a large local office) called me to say he was at swimming lessons with his kids and well, could I show his client my listing? Sure…I would be happy to provide excellent service to YOUR client, and actually showed her a couple of houses that day. By the way….that client is no longer his, but I don’t think he still knows that !
So, if your agent is not available, not answering their phone and checking their emails and just plain not working for you…..I am always welcoming new clients, and I am never too busy for any of your referrals!!
Single Family Residential
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Actives:
San Benito County-136 of which REO/Bank Owned-28 or 21%
Hollister-72 of which REO/Bank Owned-17 or 24%
Pendings:
San Benito County-209 of which REO/Bank Owned-45 or 22%
Hollister-178 of which REO/Bank Owned-38 or 21%
Absorption Rate:
San Benito County-.65 months supply of inventory
or 19.5 days.
Hollister-.40 months supply of inventory
or 12 days.
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Solds for the week: 9
High: $650,000 REO/Bank Owned, FHA Loan
Low: $125,000 Equity Sale, All Cash
Full-Price or Over-Asking: 2 or 22%
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Sale Type
REO: 6 or 67%
Equity Sale: 3 or 33%
Short Sale: none
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Financing Type
New Conv 1st: 2 or 22%
FHA Loan: 3 or 33%
All Cash: 4 or 44%
