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Single Family Residential
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Actives:
San Benito County-178 of which REO/Bank Owned-26 or 15%
Hollister-111 of which REO/Bank Owned-19 or 17%
Pending:
San Benito County-179 of which REO/Bank Owned-29 or 16%
Hollister-148 of which REO/Bank Owned-26 or 18%
Absorption Rate:
San Benito County-1 month supply of inventory
Hollister-.75 months supply of inventory or 23 days
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Solds for the week: 18 (couple of later reporting’s skew #’s)
High Sold: $700,000 Equity Sale, New Conv. 1st
Low Sold: $55,000 REO/Bank Owned, All Cash
Full-Price/Over-Asking: 7 or 39%
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Sale Type:
REO/Bank Owned-11 or 61%
Equity Sale-4 or 22%
Short Sale-3 or 17%
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Financing Type:
New Conv. 1st-7 or 39%
All Cash-5 or 28%
FHA Loan-4 or 22%
VA Loan-1 or 6%
USDA Loan-1 or 6%
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Wow! For some reason it feels like the market has fallen off a cliff…..Whatever cycle the market is in there is still a micro-cycle within and we are in what I call the dregs of summer! That being said…our absorption rate for the San Benito County has reached 1 month. We have not seen this number in probably 2 years. Interest Rates remain historically low i.e. around 4.5% but lending standards are tougher than we’ve ever seen. The economy seems worse than what we’re hearing in the news…..Our market values have come down about 58% from the peak so if you can make a purchase…it is an awesome time to buy!
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Single Family Residential
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Actives:
San Benito County-173 of which REO/Bank Owned-29 or 17%
Hollister -106 of which REO/Bank Owned-24 or 23%
Pendings:
San Benito County-196 of which REO/Bank Owned-36 or 18%
Hollister-156 of which REO/Bank Owned-30 or 19%
Absorption Rate:
San Benito County-.88 months supply of inventory or 26-days
Hollister-.68 months supply of inventory or 14-days
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Solds for the weeks: 10
High-$357,950 Short Sale, FHA Loan
Low- $105,000 REO/Bank Owned, All Cash
Full-Price/Over-Asking-8 or 80%
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Sale Type:
REO/Bank Owned-6 or 60%
Short Sale-3 or 30%
Equity Sale-1 or 10%
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Financing Type:
FHA Loan-7 or 70%
All Cash-2 or 20%
New Conv. 1st-1 or 10%
Single Family Residential
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Active Homes:
San Benito County-173 of which REO/Bank Owned-25 or 14%
Hollister-105 of which REO/Bank Owned-21 or 10%
Pending Homes:
San Benito County-195 of which REO/Bank Owned-38 or 19%
Hollister-157 of which REO/Bank Owned-32 or 20%
Absorption Rate:
San Benito County-.89 months supply of inventory or 27-days
Hollister-.67 months supply of inventory or 20-days
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Solds for the week: 13
High-$396,000 Equity Sale, New Conv 1st
Low- $142,000 REO/Bank Owned, FHA Loan
Full-Price/Over-Asking-9 or 71%
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Sale Type:
Equity Sale-5 or 38%
Investor Flip-2 or 15% of the total solds
REO/Bank Owned-4 or 31%
Short Sale-4 or 31%
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Financing Type:
FHA Loan-6 or 46%
New Conv 1st-5 or 38%
VA Loan-1 or 8%
All Cash-1 or 8%
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Single Family Residential
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Actives:
San Benito County-176 of which REO/Bank Owned-28 or 16%
Hollister-106 of which REO/Bank Owned-25 or 24%
Pendings:
San Benito County-207 of which REO/Bank Owned-38 or 18%
Hollister-170 of which REO/Bank Owned-31 or 18%
Absorption Rate:
San Benito County-.85 months supply of inventory or 26-days
Hollister-.62 months supply of inventory or 19-days
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Solds for the week: 12
High-$445,000 Equity Sale, New Conv. 1st
Low- $157,000 REO/Bank Owned, New Conv. 1st
Full-Price/Over-Asking: 9 or 75%
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Sale Type
REO/Bank Owned: 5 or 42%
Equity Sale: 4 or 33% of those 3 were Flips or 25% of total
Short Sale: 3 or 25%
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Financing Type
New Conv 1st: 7 or 58%
FHA Loan: 5 or 42%
No CASH deals this week!
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Wow! 25% of the total Solds were Investor Flips! There’s a new seller in the neighborhood….better pay attention!
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Single Family Residential
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Actives:
San Benito Couny-167 of which REO/Bank Owned-26 or 16%
Hollister-99 of which REO/Bank Owned-24 or 24%
Pendings:
San Benito County-206 of which REO/Bank Owned-38 or 18%
Hollister-170 of which REO/Bank Owned-32 or 19%
Absorption Rate:
San Benito County-.81 months supply of inventory or 24-days
Hollister-.58 months supply of inventory or 17-days
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Solds for the week: 9
High-$530,000 Equity Sale-All CASH
Low- $145,000 Equity Sale-Seller carried New 1st
Full-Price or Over-Asking-2 or 22%
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Sale Type:
Equity Sale-6 or 67%
Short Sale- 2 or 22%
REO/Bank Owned-1 or 11%
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Financing Type:
New Conv. 1st-3 or 33%
FHA Loan- 2 or 22%
All CASH- 3 or 22%
VA Loan- 1 or 11%
Seller Financing-1 or 11%
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Wow! Equity Sales still rule the day and a new one….Seller Financing!
