~ Hollister, San Benito County Real Estate Update May 30, 2009 ~

Single Family Residential

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Actives: SBC~180 of which REO~34 or 19%

                HO~100 of which REO~29 or 29%

Pendings: SBC~209 of which REO~66 or 32%

           HO~188 of which REO~62 or 33%

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

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Solds for the week: 20

High: $749,900 Short Sale, New Conv. 1st

Low: $70,000 REO, FHA Loan

Full-Price or Over-Asking: 15 or 75%

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Sale Type

REO: 15 or 75%

Short Sale: 2 or 10%

Equity Sale: 3 or 15%

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Financing Type

New Conv. 1st: 5 or 25%

FHA Loan: 9 or 45%

VA Loan: 1 or 5%

Cash: 5 or 25%

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Stuff I heard in the news this week….

1. They’re starting to talk about “The second wave”, 2010 lagging over into 2011.

2. Sales are up…duh…we knew that. 20 offers on one property, please!

3. CA…actually saw small price appreciation.

4. Of the loans that received Loan Modifications…70% are

   currently back in some stage of default.

5. There were 50 Notices of Sale this week in the local the

   paper.

6. Investors are seeing the value of getting into the

   market. 25% of the closed deals this week were cash.