~ Hollister, San Benito County Market Update for August 1st, 2009 ~

Single Family Residential

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Actives: SBC~176 of which REO/Bank Owned~28 or 16%

                      HO~92 of which REO/Bank Owned~18 or 20%

Pendings: SBC~211 of which REO/Bank Owned~69 or 33%

                          HO~191 of which REO/Bank Owned~63 or 33%

Absorption Rate: SBC~.83 months supply of inventory

                                            HO~.48 months supply of inventory

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Solds for the week: 16

   High: $710,000 Equity Sale, New Conv. 1st

    Low: $130,000 REO/Bank Owned, New Conv 1st

Full Price or Over Asking: 9 or 56%

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Sale Type:

REO/Bank Owned~11 or 69%

Short Sale~2 or 13%

Equity Sale~3 or 19%

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Financing Type:

New Conv. 1st~7 or 44%

FHA Loan~6 or 38%

Cash~3 or 19%

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Wow! Our inventory continues to condense. The kind of numbers we are seen is reminiscent of the run up of the market that got us all into this mess. Agents are reporting receiving up to 20 and 30 offers on a listing that is priced right for its condition and location.  If you are a buyer today you must be patient and willing to keep tying. I’ve talked to buyer’s agents that have written up to 10 offers for a single buyer before they got one accepted.