Hollister, San Benito County Real Estate Market Update for June 20th, 2009

Single Family Residential

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Actives: SBC~174 of which REO~35 or 20%

                      HO~93 of which REO~28 or 30%

Pendings: SBC~215 of which REO~67 or 31%

                          HO~194 of which REO~66 or 34%

Absorption Rate: SBC~.81

                                           HO~.48 months supply of inventory

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Solds for the week: 9 

  High: $510,000  REO, New Conv. 1st

  Low:  $250,000  Short Sale, New Conv. 1st

  Full Price or Over Asking: 5 or 56%

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Sale Type

  REO: 4 or 44%

  Short Sale: 4 or 44%

  Equity Sale: 1 or 11%

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Financing Type

  New Conventional 1st: 3 or 33%

  FHA Loan: 3 or 33%

  VA Loan: 1 or 11%

  Cash: 2 or 22%

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Bit of a light week on the closings. However look at the spread on prices $250 to $500. The inventory remains quite low as far as REO goes. Which explains the multiple offers being seen on a regular basis in the more affordable price ranges. I received 4 offers on a vandalized house just last week and have heard of as many as 20 offers being received on a house in Sunnyslope Village.