Hollister, San Benito County Real Estate Market Update for April 9th, 2011

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Single Family Residential

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Actives:

San Benito County-176 of which REO/Bank Owned-25 or 14%

Hollister-123 of which REO/Bank Owned-22 or 18%

Pendings:

San Benito County-189 of which REO/Bank Owned-44 or 23%

Absorption Rate:

San Benito County-.93 months supply of inventory or 28-days

Hollister-.82 months supply of inventory or 25-days

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Solds for the week: 6

High: $484,000 REO/Bank Owned, All Cash

Low:  $188,000 REO/Bank Owned, New Conv 1st

Full-Price/Over-Asking: 3 or 50%

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Sale Type

REO/Bank Owned: 3 or 50%

Short Sale: 2 or 33%

Equity Sale: 1 or 17%

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Financing Type

FHA Loan: 2 or 33%

New Conv 1st: 1 or 17%

USDA Loan: 1 or 17%

All CASH: 1 or 17%

Seller Carry Back: 1 or 17%

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There’s a new lender in town this week ~~~ the Seller Carry Back ~~~ what you won’t hear anyone talk about in this market is that 30% of all U.S. homes have no mortgage against them. For them … the Seller Carry Back is a lending option…you become the bank!

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