Hollister, San Benito County Real Estate Market Update for April 2, 2011

Official seal of County of San Benito
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Single Family Residential

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Actives

San Benito County: 170 of which REO/Bank Owned-27 or 16%

Hollister: 113 of which REO/Bank Owned-23 or 20%

Pendings

San Benito County: 184 of which REO/Bank Owned-41 or 22%

Hollister: 147 of which REO/Bank Owned-35 or 24%

Absorption Rate

San Benito County: .92 months supply of inventory or 28-days

Hollister: .77 months supply of inventory or 23-days

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Solds for the week: 18 (4-late reportings or 22%)

High: $500,000 Short Sale, New Conv 1st

Low:  $170,000 REO/Bank Owned, USDA Loan

Full-Price/Over-Asking: 8 or 44%

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Sale Type

REO/Bank Owned: 10 or 55%

Short Sale: 6 or 33%

Equity Sale: 2 or 11%

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Financing Type

New Conv. 1st: 6 or 33%

FHA Loan: 5 or 28%

All CASH: 4 or 22%

USDA Loan: 2 or 11%

VA Loan: 1 or 5%

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Our Absorption Rate appears to be tightening up a bit! I’m seeing the banks move more on foreclosing the first sale date especially if the original NOD was filed after January 1 of this year…

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