Hollister, San Benito County Real Estate Market Update for January 08, 2011

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Single Family Residential

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Actives

San Benito County- 202 of which REO/Bank Owned-32 or 16%

Hollister-134 of which REO/Bank Owned-29 or 22%

Pendings

San Benito County-150 of which REO/Bank Owned-33 or 22%

Hollister-126 of which REO/Bank Owned-28 or 22%

Absorption Rate

San Benito County-1.35 months supply of inventory or 40-days

Hollister-1.06 months supply of inventory or 32-days

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Solds for the week: 9 (2 late reportings)

High: $410,000 Equity Sale, VA Loan

Low:  $228,000 Short Sale, New Conv. 1st

Full-Price/Over-Asking: 5 or 56%

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Sale Type

REO/Bank Owned: 4 or 44%

Equity Sale: 3 or 33% (1 investor flip)

Short Sale: 2 or 22%

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Financing Type

New Conv. 1st: 5 or 44%

FHA Loan: 2 or 22%

VA Loan: 2 or 22%

All CASH: 0

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Our market activity continues to show signs of slowing as evidenced by an increasing absorption rate.

 Just a FYI ~ saw a news story this week that talked about the lack luster success of the latest government intervention into the housing market ~ the HAFA Short Sale Program. The program is now 8 months old and has only closed 400 short sales! Note to the government: Butt OUT!

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