Lori Uhl McClelland's Blog

Single Family Residential

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Active:

  San Benito County-140 of which REO/Bank Owned-30 or 21%

  Hollister-80 of which REO/Bank Owned-22 or 28%

Pending:

  San Benito County-209 of which REO/Bank Owned-40 or 19%

  Hollister-173 of which REO/Bank Owned-31 or 18%

Absorption Rate:

  San Benito County-.67 months supply of inventory ~ 20 days

  Hollister-.46 months supply of inventory ~ 14 days

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Sold’s for the week: 14

  High-$565,000 Equity Sale, All Cash

  Low- $69,000 REO/Bank Owned, All Cash

Full-Price or Over-Asking: 7 or 50%

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Sale Type:

  REO/Bank Owned-7 or 50%

  Short Sale-2 or 14%

  Equity Sale-5 or 36%

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Financing Type:

  New Conv. 1st-5 or 36%

  FHA Loan-6 or 43%

  All Cash-2 or 14%

  VA Loan-1 or 7%

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A busy week of closings considering the holidays!

Single Family Residential

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Active:

  San Benito County-147 of which REO/Bank Owned-24 or 16%

  Hollister-84 of which REO/Bank Owned-16 or 19%

Pending:

  San Benito County-209 of which REO/Bank Owned-46 or 22%

  Hollister-171 of which REO/Bank Owned-38 or 22%

Absorption Rate:

  San Benito County-.70 months supply of inventory or 21 days

  Hollister-.49 months supply of inventory or 15 days

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Solds for the week: 17

  High-$705,000 – REO/Bank Owned – New Conv. 1st

  Low- $122,000 – REO/Bank Owned – All Cash

  Full-Price or Over- 11 or 65%

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Sale Type:

  REO/Bank Owned-12 or 70%

  Short Sale-4 or 24%

  Equity Sale-1 or 6%

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Financing Type:

  New Conv. 1st-8 or 47%

  FHA Loan-6 or 35%

  All Cash-3 or 18%

Single Family Residential

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Actives:

  San Benito County-133 of which REO/Bank Owned-19 or 14%

  Hollister-70 of which REO/Bank Owned-12 or 17%

Pendings:

  San Benito County-219 of which REO/Bank Owned-53 or 24%

  Hollister-180 of which REO/Bank Owned-42 or 23%

Absorption Rate:

  San Benito County-.61 months supply of inventory or 18 days

  Hollister-.39 months supply of inventory or 12 days

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Solds for the week: 10

  High-$641,500 REO/Bank Owned, New Conv. 1st

  Low- $135,000 REO/Bank Owned, All Cash

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

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Sale Type:

  REO/Bank Owned-5 or 50%

  Short Sale-3 or 30%

  Equity Sale-2 or 20%

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Financing Type:

  New Conv. 1st-5 or 50%

  FHA Loan-2 or 20%

  VA Loan-1 or 10%

  All Cash-2 or 20%

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Contrary to what you may have heard, lenders actually want to avoid foreclosure wherever possible. That’s why they’re accepting more short sale and deed-in-lieu transactions everyday in an effort to eliminate unnecessary foreclosures. This is great news for homeowners facing financial distress.

To help you understand more about these two options, I’ve prepared a free report just for you, called ‘Short Sale & Deed-in-Lieu: Dignified Solutions.’ To receive your free report, please provide your information in the fields below.

I hope you’ll review these options carefully and pass this information along to those who may need it. I commend your efforts to finding a solution to the difficult financial situation that you or someone you know is currently facing. Providing the best advice and information in your time of need is my priority.

Let me help you evaluate your options and get you back on track to a secure financial future 

Single Family Residential

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Actives:

  San Benito County-133 of which REO/Bank Owned-24 or 39%

  Hollister-67 of which REO/Bank Owned-15 or 22%

Pendings:

  San Benito County-213 of which REO/Bank Owned-48 or 23%

  Hollister-174 of which REO/Bank Owned-37 or 21%

Absorption Rate:

  San Benito County-.62 months supply of inventory or 19 days

  Hollister-.39 months supply of inventory or 12 days

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Sale Type:

  REO-12 or 46%

  Short Sale-8 or 31%

  Equity Sale-6 or 23%

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Financing Type:

  New Conventional 1st-17 or 65%

  FHA Loan-9 or 35%

  All Cash-0

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Wow! A bunch of closings this week.

Most likely because people were trying to cash in on the first time homebuyer tax credit which was set to expire at the end of November.