Lori Uhl McClelland's Blog

Single Family Residential

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Actives:

San Benito County-160 of which REO/Bank Owned-29 or 18%

Hollister-96 of which REO/Bank Owned-20 or 21%

Pendings:

San Benito County-231 of which REO/Bank Owned-37 or 16%

Hollister-190 of which REO/Bank Owned-30 or 16%

Absorption Rate:

San Benito County-.69 months supply of inventory or 21 days

Hollister-.51 months supply of inventory or 15 days

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Solds for the week: 20

High: $605,000 REO/Bank Owned, New Conv. 1st

Low:  $115,000 REO/Bank Owned, All CASH

Full-Price or Over-Asking: 16 or 80%

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Sale Type

REO/Bank Owned: 12 or 60%

Short Sale: 6 or 30%

Equity Sale: 2 or 10%

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Financing Type

New Conv. 1st: 9 or 45%

FHA Loan: 8 or 40%

All CASH: 3 or 15%

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 Wow! Big week for closings…..Inventory appears to be creeeeping up….maybe due to the banks moving forward on more foreclosures that were stalled from last year….there were 54 Notices of Sale in the paper this week, have not seen numbers like that in well over a year.