Lori Uhl McClelland's Blog

http://thenichereport.com/blog/?p=314

Single Family Residential

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Actives:

San Benito County-139 of which REO/Bank Owned-28 or 20%

Hollister-76 of which REO/Bank Owned-17 or 22%

Pendings:

San Benito County-222 of which REO/Bank Owned-47 or 21%

Hollister-186 of which REO/Bank Owned-37 or 20%

Absorption Rate:

San Benito County-.63 months supply of inventory or 19 days

Hollister-.41 months supply of inventory or 12 days

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Solds for the week: 19

High: $725,000 Equity Sale-New Conv. 1st

Low:  $214,000 Equity Sale-FHA Loan

Full-Price or Over-Asking: 9 or 47%

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Sale Type

REO/Bank Owned: 10 or 53%

Short Sale: 2 or 11%

Equity Sale: 7 or 37%

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Financing Type

New Conv. 1st: 8 or 42%

FHA Loan: 7 or 37%

All CASH: 2 or 11%

VA Loan: 2 or 11%

Wow! A big week for closings…..Wondering if now we’re over the hump of lenders having to use the new GFE-Good Faith Estimate. We have not seen this many Equity Sales close in one week in I can’t remember and the high closing was in the $700,000 range and the low was in the $200,000 range. For weeks we’ve had closings under $200,000.

http://www.ehow.com/how_5077979_avoid-homes-rent-scams-craigslist.html

One of our office listings was recently targeted as a rental scam on Craigslist.  Apparently this is a well known and nationwide problem. Scammers harvest information off the MLS and post the identical information …photo’s and everything on Craigslist then add in some sob story about how they had to leave the country for missionary work or such and can only communicate by e-mail. They ask for money to be sent by wire and then will send the keys…that’s it in a nutshell. The above link has some tips on how to avoid Craigslist Scammers.

2010 City/County Housing Expo February 25th 9-5pm at the Vets Memorial Building downtown.

 If you can’t make or just plain don’t feel comfortable with a public forum setting…shoot us an e-mail.  We’ll be happy to drop a CD in the mail to you….contains Homeowner Reports, Pre-Listing Packet for a Short Sale and a few other little treasures!

Single Family Residential

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 Actives:

San Benito County-144 of which REO/Bank Owned-28 or 19%

Hollister-76 of which REO/Bank Owned-19 or 25%

Pendings:

San Benito County-222 of which REO/Bank Owned-47 or 21%

Hollister-190 of which REO/Bank Owned-36 or 19%

Absorption Rate:

San Benito County-.65 month’s supply of inventory or 20days

Hollister-.40 month’s supply of inventory or 12days

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 Solds for the weeks: 8

High-$700,000 Short Sale, New Conv.1st

Low- $175,000 REO/Bank Owned, New Conv.1st

Full-Price or Over-Asking-7 or 88%

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Sale Type:

REO/Bank Owned-6 or 75%

Short Sale-2 or 25%

Equity Sale-none

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 Financing Type:

New Conventional 1st-5 or 63%

FHA Loan-1 or 13%

USDA Loan-1 or 13%

All Cash-1 or 13%

Over The Fence ~ March 2010

About Providence Properties

A little bit about us!

http://www.thinkbigworksmall.com/mypage/player/tbws/23622/1079262

Single Family Residential

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Actives:

San Benito County-149 of which REO/Bank Owned-29 or 19%

Hollister-83 of which REO/Bank Owned-20 or 24%

Pending’s:

San Benito County-211 of which REO/Bank Owned-47 or 22%

Hollister-180 of which REO/Bank Owned-36 or 20%

Absorption Rate:

San Benito County-.71 month’s supply of inventory or 21 days

Hollister-.46 month’s supply of inventory or 14 days

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Sold’s for the week: 9

High-$441,000 REO/Bank Owned (Sold at auction), FHA Loan

Low-$175,000 Short Sale, USDA Loan

Full-Price or Over-Asking Price-7 or 78%

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Sale Type:

REO/Bank Owned-5 or 56%

Short Sale-3 or 33%

Equity Sale-1 or 11%

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Financing Type:

FHA Loan-3 or 33%

New Conv. 1^st-4 or 4%

VA Loan-1 or 11%

USDA Loan-1 or 11%