Hollister, San Benito County Real Estate Market Update July 11th, 2009

Single Family Residential

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Actives:      SBC~188 of which REO/Bank Owned~34 or 18%

                          HO~105 of which REO/Bank Owned~27 or 26%

Pendings: SBC~208 of which REO/Bank Owned~66 or 32%

                          HO~183 of which REO/Bank Owned~61 or 33%

Absorption Rate: SBC~.90 HO~.57 months supply of inventory

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Solds for the week: 10

High~$600,000  Short Sale, New Conv. 1st

Low~ $93,000   REO/Bank Owned, Cash

Full-Price or Over-Asking: 7 or 70%

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Sale Type

REO/Bank Owned~9 or 90%

Short Sale~1 or 10%

Equity Sale~0

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Financing Type

New Conv. 1st~4 or 40%

FHA Loan~4 or 40%

Cash~2 or 20%

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Wow! Kind of amazing that 70% of the Sold’s this week were at full price or over asking. It’s supply and demand….the inventory is low and the REO/Bank Owned inventory even lower. Interest rates remain very good and buyer’s are pressed to write their highest and best offer. Fishing a low ball offer usually just results in “The seller accepted another offer. Better luck next time”