~ Hollister, San Benito County Real Estate Update for May 9th, 2009 ~

Single Family Residential

Actives:  SBC~184 of which REO~35 or 19%

                    HO~101 of which REO~30 or 30%

 Pendings:  SBC~215 of which REO~87 or 40%

                       HO~192 of which REO~79 or 41%

 Absorption Rate:  SBC~.86  HO~.53  months supply of inventory

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Sold’s for the week: 18

High: $560,000 ~ REO, New Conv. 1st

Low:  $140,000 ~ REO, FHA Loan

Full-Price or Over-Asking: 12 or 67%

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Sale Type

REO~14 or 78%

Short Sale~2 or 11%

Equity Sale~2 or 11%

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 Financing Type

New Conv. 1st~9 or 50%

FHA Loan~6 or 33%

VA Loan~2 or 11%

Cash~1 or 6%

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There you have it. Still nearly 70% of the Sold’s were at full price or above.

In the lower price ranges multiple offer’s are still the order of the day. Buyer’s must be prepared to put their best foot forward if they find something they really like.

I hear from other agents everyday they sometimes write 10 or more offer’s for a buyer before they get one accepted.