Single Family Residential
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Active:
San Benito County-201 of which REO/Bank Owned-32 or 16%
Hollister-133 of which REO/Bank Owned-29 or 22%
Pending:
San Benito County-172 of which REO/Bank Owned-33 or 19%
Hollister-138 of which REO/Bank Owned-25 or 18%
Absorption Rate:
San Benito County- 1.20 months supply of inventory or 36days
Hollister-.96 months supply of inventory or 29days
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Solds for the week: 12 (4 or 33% late reportings)
High- $545,000 REO/Bank Owned, VA Loan
Low- $181,000 Equity Sale, FHA Loan
Full-Price/Over-Asking-3 or 25%
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Sale Type
REO/Bank Owned: 5 or 42%
Equity Sale: 5 or 42%
Short Sale: 2 17%
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Financing Type
New Conv 1st: 6 or 50%
FHA Loan: 5 or 42%
VA Loan: 1 or 8%
All CASH: 0
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Our market continues to show signs of slowing. Hard to say of it’s the holidays or the economy or a combination of both. The market is just not behaving as one would expect.
Single Family Residential
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Active:
San Benito County-203 of which REO/Bank Owned-27 or 13%
Hollister-132 of which REO/Bank Owned-23 or 17%
Pendings:
San Benito County-179 of which REO/Bank Owned-38 or 21%
Hollister-149 of which REO/Bank Owned-29 or 19%
Aborption Rate:
San Benito County-1.13 months supply of inventory or 34-days
Hollister-.88 months supply of inventory or 26-days
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Solds: 11 (2 were late reportings or 18%)
High-$348,000 Short Sale, VA Loan
Low- $139,000 REO/Bank Owned, New Conv. 1st
Full-Price/Over-Asking: 3 or 27%
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Sale Type
REO/Bank Owned: 6 or 55%
Short Sale: 3 or 27%
Equity Sale: 2 or 18% (1 was investor flip)
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Financing Type
New Conv 1st- 5 or 45%
VA Loan- 2 or 18%
USDA Loan- 2 or 18%
FHA Loan- 1 or 9%
All CASH-1 or 9%
Single Family Residential
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Actives:
San Benito County-213 of which REO/Bank Owned-30 or 14%
Hollister-136 of which REO/Bank Owned-23 or 17%
Pendings:
San Benito County-176 of which REO/Bank Owned-40 or 23%
Hollister-151 of which REO/Bank Owned-34 or 23%
Absorption Rate:
San Benito County-1.21 months supply of inventory or 36-days
Hollister-.90 months supply of inventory or 27-days
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Solds for the week: 8 (4 of which are late reportings)
High: $485,000 Short Sale, New Conv 1st
Low: $201,000 REO/Bank Owned, FHA Loan
Full-Price/Over-Asking: 7 or 88%
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Sale Type
Short Sale: 5 or 63%
REO/Bank Owned: 3 or 38%
Equity Sale: none
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Financing Type
FHA Loan: 4 or 50%
New Conv 1st: 2 or 25%
VA Loan: 1 or 13%
All Cash: 1 or 13%
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Our market is dramatically slow….the true number of closings for the week is really 4. Half of the reported solds are late reporting….that just makes me NUTS! One of them all the way back to 12/31/09…unbelievable!!! What is wrong with people..they are supposed to be professionals
Single Family Residential
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Actives:
San Benito County-208 of which REO/Bank Owned-25 or 12%
Hollister-134 of which REO/Bank Owned-21 or 16%
Pendings:
San Benito County-175 of which REO/Bank Owned-41 or 23%
Hollister-149 of which REO/Bank Owned-34 or 23%
Absorption Rate:
San Benito County-1.19 months supply of inventory or 36-days
Hollister-.90 months supply of inventory or 27-days
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Solds for the week: 7 (1 was late reporting)
High-$770,000 REO/Bank Owned, New Conv. 1st
Low- $115,000 REO/Bank Owne, All CASH
Full-Price/Over-Asking- 6 or 86%
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Sale Type:
REO/Bank Owned-5 or 71%
Equity Sale-2 or 29%
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Financing Type:
New Conv. 1st-4 or 57%
FHA Loan-2 or 29%
All CASH-1 or 8%
Single Family Residential
____________________________________________________________
Actives:
San Benito County-208 of which REO/Bank Owned-26 or 13%
Hollister-134 of which REO/Bank Owned-22 or 17%
Pendings:
San Benito County-175 of which REO/Bank Owned-41 or 23%
Hollister-151 of which REO/Bank Owned-34 or 23%
Absorption Rate:
San Benito County-1.19 months supply of inventory or 36 days
Hollister-.89 months supply of inventory or 27 days
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Solds for the week:17 (5 or 30% are late reportings-irks me!!!!)
High: $629,900 REO/Bank Owned, FHA Loan
Low: $170,000 Short Sale, FHA Loan
Full-Price/Over-Asking: 6 or 35%
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Sale Type:
REO/Bank Owned-8 or 47%
Short Sale-5 or 30%
Equity Sale-4 or 24%
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Financing Type:
FHA Loan-8 or 47%
New Conv 1st-6 or 35%
All Cash-3 or 18%
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The market appears to continue to slow. Cash buyers continue to right low ball offers and asset managers on bank owned properties continue to counter them back at full-price. Not sure who is more out of touch. That’s my soapbox for this week!
Single Family Residential
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Actives:
San Benito County-209 of which REO/Bank Owned-25 or 12%
Hollister-144 of which REO/Bank Owned-20 or 14%
Pendings:
San Benito County-188 of which REO/Bank Owned-44 23%
Hollister-156 of which REO/Bank Owned-37 or 24%
Absorption Rate:
San Benito County-1.11 months supply of inventory or 33-days
Hollister-.92 months supply of inventory or 28-days
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Solds for the week: 14 (5 late reportings or 36%)
High: $611,250 Equity Sale, New Conv. 1st
Low: $145,000 REO/Bank Owned, All CASH
Full-Price/Over-Asking: 10 or 71%
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Sale Type:
REO/Bank Owned-8 or 57%
Short Sale-5 or 36%
Equity Sale-1 or 7%
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Financing Type:
FHA Loan-8 or 57%
New Conv. 1st-4 or 29%
All CASH-1 or 7%
USDA Loan-1 or 7%
Single Family Residential
____________________________________________________________
Actives:
San Benito County-200 of which REO/Bank Owned-34 or 17%
Hollister-141 of which REO/Bank Owned-28 or 20%
Pendings:
San Benito County-182 of which REO/Bank Owned-38 or 23%
Hollister-151 of which REO/Bank Owned-32 or 21%
Absorption Rate:
San Benito County-1.1 months supply of inventory or 33 days
Hollister-.93 months supply of inventory or 28 days
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Solds for the week: 18 (4-late reportings 22% … duh)
High: $430,000 Equity Sale, All Cash
Low: $98,0000 REO/Bank Owned, All Cash
Full-Price/Over-Asking: 9 or 50%
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Sale Type
REO/Bank Owned: 10 or 56%
Equity Sale: 5 or 28% (2 of those were investor flips)
Short Sale: 3 or 17%
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Financing Type
All Cash: 6 or 33%
FHA Loan: 5 or 28%
New Conv 1st: 3 or 17%
VA Loan: 3 or 17%
USDA Loan: 1 or 6%
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
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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%
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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%
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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
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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%
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Sale Type
REO/Bank Owned: 3 or 43%
Equity Sale: 2 or 29%
Short Sale: 2 or 29%
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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-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%
__________________________________________________________________________________________
Sale Type:
REO/Bank Owned-4 or 50%
Short Sale-2 or 25%
Equity Sale-2 or 25%
__________________________________________________________________________________________
Financing Type:
FHA Loan-3 or 38%
New Conv. 1st-2 or 25%
All CASH-2 or 25%
VA Loan-1 or 12%
__________________________________________________________________________________________
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!
