Hollister, San Benito County Real Estate Market Update April 25th, 2009

April 25th, 2009 6:26 AM

Single Family Residential
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Active: SBC~198 of which 36~REO or 18%
             HO~117 of which 36~REO or 29%

Pending: SBC~211 of which 91~REO or 43%
                HO~187 of which 80~REO or 43%

Absorption Rate: SBC~.94  HO~.63 months supply of inventory
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Sold’s for the week: 14

    High: $484,000 Equity Sale,  New Conv. 1st
    Low:   $89,000 REO, Cash

Full-Price or Over Asking: 10 or 71%
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Sale Type:

REO~10 or 71%   Short Sale: 3 or 21%  Equity Sale: 1 or 7%
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Financing Type:

New Conv. 1st~ 6 or 43%  
FHA Loan~ 6 or 43%
VA Loan~ 1 or 7%
Cash~ 1 or 7%
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Wow! 70% of the Sold’s were at full-price or over asking price. Why? The low REO inventory due to the pause in foreclosure activity over the holidays. Low inventory stimulates demand and will help establish pricing stability in the market place, for now……….