Hollister, San Benito County Real Estate Market Update for August 14th, 2010

Seal of San Benito County, California
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Single Family Residential

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Actives:

San Benito County-198 of which REO/Bank Owned-30 or 15%

Hollister-127 of which REO/Bank Owned-23 or 18%

Pendings:

San Benito County-198 of which REO/Bank Owned-32 or 16%

Hollister-160 of which REO/Bank Owned-27 or 17%

Absorption Rate:

San Benito County-.95 months supply of inventory or 29 days

Hollister-.79 months supply of inventory or 24 days

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Solds for the week: 2

High-$665,000 Equity Sale-FHA Loan

Low- $195,000 REO/Bank Owned-All CASH

Full-Price/Over-Asking-1 or 50%

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Sale Type:

REO-1 or 50%

Equity Sale-1 or 50%

Short Sales-none

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Financing Type:

FHA Loan-1 or 50%

All CASH- 1 or 50%

Conv. 1st-none

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¬†Whoa! Just when you think it can’t get worse…2 closed sales this week….the short sales are suspiciously absent…what could that be? Another new ineffective government program? HAFA was rolled out the beginning of April…it’s August! Short Sale closings ought to be rockin and rollin by now 4 months, please a regular Short Sale can get done in that amount of time…just a thought…have no proof except the last 2 weeks the short sales closings have vanished….

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