Hollister, San Benito County Real Estate Market Update for August 21st, 2010

Seal of San Benito County, California
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Single Family Residential

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Actives:

San Benito County-197 of which REO/Bank Owned-33 or 17%

Hollister-136 of which REO/Bank Owned-25 or 18%

Pendings:

San Benito County-195 of which REO/Bank Owned-32 or 16%

Hollister-159 of which REO/Bank Owned-28 or 18%

Absorption Rate:

San Benito County- 1 month supply of inventory

Hollister-.86 month’s supply of inventory or 26 days

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Solds for the week: 8 (1 late reporting from the week before)

High-$449.500  Short Sale, New Conv. 1st

Low- $149,539  REO/Bank Owned, All CASH

Full-Price/Over-Asking-3 or 38%

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Sale Type:

REO/Bank Owned-4 or 50%

Short Sale-2 or 25%

Equity Sale-2 or 25%

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Financing Type:

FHA Loan-3 or 38%

New Conv. 1st-2 or 25%

All CASH-2 or 25%

VA Loan-1 or 12%

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Little better numbers this week! At least our absorption rate is not continuing to climb but it has gone up by about 30% over the summer. We’ll see if there’s the typical pickup in the market as the kids are starting to go back to school. Interest rates remain fabulous!

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