Single Family Residential
____________________________________________________________
Actives:
San Benito County-202 of which REO/Bank Owned-36 or 18%
Hollister-145 of which REO/Bank Owned-30 or 21%
Pendings:
San Benito County-184 of which REO/Bank Owned-40 or 22%
Hollister-153 of which REO/Bank Owned-33 or 22%
Absorption Rate:
San Benito County-1.10 months supply of inventory or 33 days
Hollister- .95 months supply of inventory or 28.5 days
____________________________________________________________
Solds for the week: 10
High: $590,000 REO/Bank Owned, USDA Loan?
Low: $125,900 REO/Bank Owned, All CASH
Full-Price/Over-Asking: 2 or 20%
____________________________________________________________
Sale Type:
REO-6 or 60%
Short Sale-2 or 20%
Equity Sale-2 or 20% (1 was investor flip)
____________________________________________________________
Financing Type:
All CASH-4 or 40%
New Conv. 1st-2 or 20%
FHA Loan-2 or 20%
USDA Loan-2 or 20%
Single Family Residential
____________________________________________________________
Actives:
San Benito County-203 of which REO/Bank Owned-35 or 17%
Hollister-144 of which REO/Bank Owned-29 or 20%
Pendings:
San Benito County-185 of which REO/Bank Owned-42 or 23%
Hollister-154 of which REO/Bank Owned-35 or 23%
Absorption Rate:
San Benito County-1.10 months supply of inventory or 33 days
Hollister-.94 months supply of inventory or 28 days
____________________________________________________________
Solds for the week: 14 (5! were late reportings)
High: $775,000 Equity Sale, New Conv. 1st
Low: $180,000 Short Sale, FHA Loan
Full-Price/Over-Asking: 6 or 43%
____________________________________________________________
Sale Type
Equity Sale: 7 or 50%
Short Sale: 4 or 29%
REO/Bank Owned: 3 or 21%
____________________________________________________________
Financing Type
New Conv. 1st: 6 or 43%
FHA Loan: 6 or 43%
VA Loan: 1 or 7%
All CASH: 1 or 7%
____________________________________________________________
9 Properties actually closed this week. 5 of the 14 reported solds are late reportings. Are you kidding me! 36%.
What is wrong with people? One of the solds is all the way back to July!
Single Family Residential
____________________________________________________________
Active:
San Benito County-199 of which REO/Bank Owned-34 or 17%
Hollister-141 of which REO/Bank Owned-28 or 20%
Pendings:
San Benito County-190 of which REO/Bank Owned-37 or 19%
Hollister-156 of which REO/Bank Owned-31 or 20%
Absorption Rate:
San Benito County-1.05 month’s supply of inventory
Hollister-.90 month’s supply of inventory or 27-days
____________________________________________________________
Sold’s for the week: 7
High: $299,900 REO/Bank Owned, FHA Loan
Low: $178,000 Equity Sale-Flip, All CASH
Full-Price/Over-Asking: 6 or 86%
____________________________________________________________
Sale Type
REO/Bank Owned: 3 or 43%
Equity Sale: 2 or 29%
Short Sale: 2 or 29%
____________________________________________________________
Financing Type
New Conv. 1st: 3 or 43%
FHA Loan: 2 or 29%
All CASH: 2 or 29%
____________________________________________________________
Single Family Residential
____________________________________________________________
Actives:
San Benito County-199 of which REO/Bank Owned-38 or 19%
Hollister-141 of which REO/Bank Owned-30 or 21%
Pendings:
San Benito County-191 of which REO/Bank Owned-34 or 18%
Hollister-158 of which REO/Bank Owned-30 or 19%
Absorption Rate:
San Benito County-1.04 months supply of inventory
Hollister-.89 months supply of inventory or 27 days
____________________________________________________________
Solds for the week: 11 (4 late reportings-1 back to 8-5-10)
High: $690,000 REO, New Conv. 1st
Low: $156,000 REO, All CASH
Full-Price/Over-Asking: 5 or 45%
____________________________________________________________
Sale Type
REO/Bank Owned: 5 or 45%
Equity Sale: 4 or 36%
Short Sale: 2 or 18%
____________________________________________________________
Financing Type
New Conv 1st: 3 or 27%
All CASH: 3 or 27%
VA Loan: 3 or 27%
FHA Loan: 1 or 9%
USDA Loan: 1 or 9%
____________________________________________________________
A bit of an improved week on the closings however there were 4 late reportings ~ one as far back as 08-05-10. Come on people….what is wrong with agents not being able to reports sales in a timely fashion…….
REO/Bank Owned homes and Equity Sales continue to dominate. The Short Sales remain strangely absent. I’m still thinking the government HAFA program has only made more of a mess of the Short Sale market. This program is now 5 months old. I would think that if it was everything they had it cracked up to be…the short sales would be dominating the closed sales in the market and they are not!
