Hollister, San Benito County Real Estate Market Update for 01-18-14

Solds for the Week of 01-18-14

Official seal of County of San Benito
Official seal of County of San Benito (Photo credit: Wikipedia)

 

Single Family Residential

_______________________________________
Actives
San Benito County-88 of which REO/Bank Owned-None, Short Sales-3 or 3%
Hollister-49 of which REO/Bank Owned-None, Short Sales-1 or 2%
Pendings
San Benito County-84 of which REO/Bank Owned-None, Short Sales-30 or 36%
Hollister-69 of which REO/Bank Owned-None, Short Sales-25 or 36%
Absorption Rate
San Benito County-1.04 months supply of inventory or 31-days
Hollister-.71 months supply of inventory or 21-days
______________________________________
Solds for the Week: 5
High: $750,000  Regular Sale, New Conv 1st
Low:  $203,000  Regular Sale, All Cash
Full-Price/Over-Asking: 1 or 20%
Average DOM: 74
Average Square Footage: 2217sf
Average Price/Square Foot: $238.09/sf
Average Sales Price: $504,200.00
______________________________________
Sale Type
Regular Sale: 5 or 100%
REO/Bank Owned: None
Short Sales: None
______________________________________
Financing Type
New Conv 1st: 3 or 60%
All Cash: 1 or 20%
Other: 1 or 20%
FHA Loan: None
VA Loan: None
USDA Loan: None
_____________________________________
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Hollister, San Benito County Real Estate Market Update for January 4th, 2014

Solds for the Week of 01-04-14

Official seal of County of San Benito
Official seal of County of San Benito (Photo credit: Wikipedia)

 

Single Family Residential

______________________________________
Actives
San Benito County-79 of which REO/Bank Owned-None, Short Sales-5 or 6%
Hollister-44 of which REO/Bank Owned-None, Short Sales-3 or 7%
Pendings
San Benito County-88 of which REO/Bank Owned-None, Short Sales-30 or 34%
Hollister-67 of which REO/Bank Onwed-None, Short Sales-24 or 36%
Absorption Rate
San Benito County-.90 months supply of inventory or 27-days
Hollister-.65 months supply of inventory or 20-days
______________________________________
Solds for the Week: 8
High: $711,000 Regular Sale, All CASH
Low:  $190,000 Regular Sale, All CASH
Full-Price/Over-Asking: 1 or 12.5%
Average DOM: 76 days
Average Square Footage: 2506sf
Average Price/Square Foot: $184.80
Average Sales Price: $443,850
______________________________________
Sale Type
Regular Sale: 6 or 75%
REO/Bank Owned: 1 or 12.5%
Short Sale: 1 or 12.5%
______________________________________
Financing Type
All CASH: 5 or 62.5%
New Conv 1st: 2 or 25%
FHA Loan: 1 or 12.5
_____________________________________

Wow! That’s all you can say is  WOW…CASH was KING
this week. I’ve never seen such a high percentage of
transactions close with ALL CASH deals!!!
FYI~It’s been YEARS! since we’ve had no Active or Pending
REO/Bank Owned properties on the market.
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Hollister, San Benito County Real Estate Market Update for November 2, 2013

Official seal of County of San Benito
Official seal of County of San Benito (Photo credit: Wikipedia)

Solds for the Week of 11-02-13

 

Single Family Residential

________________________________________________
Actives
San Benito County-82 of which REO/Bank Owned-1 or 1%, Short Sales-5 or 6%
Hollister-46 of which REO/Bank Owned-1 or 2%, Short Sales-3 or 7%
Pendings
San Benito County-88 of which REO/Bank Owned-3 or 3%, Short Sales-27 or 31%
Hollister-68 of which REO/Bank Owned-2 or 3%, Short Sales-23 or 34%
Absorption Rate
San Benito County-.93 months supply of inventory or 28-days
Hollister-.68 months supply of inventory or 20-days
________________________________________________
Solds for the Week: 8
High: $569,000 New Conv 1st, Regular Sale
Low:  $236,000 New Conv 1st, Regular Sale
Full-Price/Over-Asking: 3 or 38%
Average DOM: 89-days
Average Square Footage: 1914sf
Average Price/Square Foot: $217/sf
Average Sale Price: $388,750.00
________________________________________________
Sale Type
Traditional Sale: 7 or 88%
REO/Bank Owned: 1 or 12%
Short Sale: None
________________________________________________
Financing Type
New Conv 1st: 6 or 75%
FHA Loan: 2 or 25%
All Cash: None

________________________________________________

Our absoprtion rate is back under a one month supply of inventory……
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Hollister, San Benito County Real Estate Market Update for October 19, 2013

Solds for the Week of 10-19-13

Single Family Residential

Official seal of County of San Benito
Official seal of County of San Benito (Photo credit: Wikipedia)
________________________________________________________
Actives
San Benito County-91 of which REO/Bank Owned-1 or 1%, Short Sales-2 or 2%
Hollister-53 of which REO/Bank Owned-1 or 2%, Short Sales-1 or 2%
Pendings
San Benito County-87 of which REO/Bank Owned-4 or 5%, Short Sales-27 or 31%
Hollister-65 of which REO/Bank Owned-2 or 3%, Short Sales-23 or 35%
Absorption Rate
San Benito County-1.04 months supply of inventory or 31-days
Hollister-.81 months supply of inventory or 25-days
_______________________________________________________
Solds for the Week: 7
High: $725,000 New Conv 1st, Regular Sale
Low: $215,000 New Conv 1st, Regular Sale
Full-Price/Over-Asking: 3 or 43%
Average Day on Market: 15
Average Square Footage: 1716sf
Average Price/Square Foot: $231
Average Sales Price: $396,357
______________________________________________________
Sale Type
Regular Sale: 6 or 86%
Short Sale: 1 or 14%
REO/Bank Owned: None
______________________________________________________
Financing Type
New Conv 1st: 5 or 71%
FHA Loan: 2 or 29%
CASH: None
_____________________________________________________
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Hollister, San Benito County Real Estate Market Update for August 24, 2013

Solds for the Week of 08-24-13

Official seal of County of San Benito
Official seal of County of San Benito (Photo credit: Wikipedia)

 

Single Family Residential 

_____________________________________________________
Actives
San Benito County-91 of which REO/Bank Owned-3 or 3%, Short Sales-3 or 3%
Hollister-56 of which REO/Bank Owned-2 or 4%, Short Sales-3 or 11%
Pendings
San Benito County-101 of which REO/Bank Owned-2 or 2%, Short Sales-35 or 35%
Hollister-81 of which REO/Bank Owned-1 or 1%, Short Sales-29 or 36%
Absorption Rate
San Benito County- .90 months supply of inventory or 27-days
Hollister- .69 months supply of inventory or 21-days
_____________________________________________________
Solds for the Week: 9
High: $650,000 New Conv 1st, Regular Sale
Low:  $240,000 FHA Loan, Short Sale
Full-Price/Over-Asking: 6 or 67%
Average Square Footage: 2221sf
Average Price/Square Foot: $212.13/sf
Average Sale Price: $457,667.00
_____________________________________________________
Sale Type
Regular Sale: 6 or 67%
Short Sale: 3 or 33%
REO/Bank Owned: None
_____________________________________________________
Financing Type
New Conv 1st: 5 or 56%
FHA Loan: 2 or 22%
All CASH: 2 or 22%
_____________________________________________________
The slow down continues to crawl forward. We have not seen 90+ properties Active on the market in several years!
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Hollister, San Benito County Real Estate Market Update for July 27, 2013

Official seal of County of San Benito
Official seal of County of San Benito (Photo credit: Wikipedia)

Solds for the Week of 07-27-13

Single Family Residential

_______________________________________________________
Actives
San Benito County-86 of which REO/Bank Owned-3 or 3%, Short Sales-2 or 2%
Hollister-56 of which REO/Bank Owned-2 or 4%, Short Sales-2 or 4%
Pendings
San Benito County-95 of which REO/Bank Owned-1 or 1%, Short Sales-47 or 49%
Hollister-77 of which REO/Bank Owned-None, Short Sale-41 or 53%
Absorption Rate
San Benito County-.91 months supply of inventory or 27-days
Hollister-.73 months supply of inventory or 22-days
_______________________________________________________
Solds for the Week: 9
High: $757,500.00 New Conv 1st, Regular Sale
Low:  $250,000.00 FHA Loan, Regular Sale
Full-Price/Over-Asking: 8 or 89%
_______________________________________________________
Sale Type
Regular Sale: 9 or 100%
REO/Bank Owned: None
Short Sales: None
_______________________________________________________
Financing Type
New Conv 1st: 3 or 33%
FHA Loan: 3 or 33%
VA Loan: 2 or 22%
All CASH: 1 or 12%
_______________________________________________________

Looks like we are witnessing a real slow down in the market!
For the longest time our absorption rate for San Benito County has
been running about 16-18 days and now it’s up to 27-days. Almost
a 60% increase.
For Hollister the absorption rate had been running 10-14 days and
now it is up to 22-days.  Almost a 50% increase.
Properties are still selling for full-price or over! Seller’s are most likely
lucky to get a couple offer’s vs 5 or 10 and some contingent offer’s
are now showing up in the marketplace too!
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Hollister, San Benito County Real Estate Market Update for June 29th, 2013

Solds for the Week of 06-29-13

Official seal of County of San Benito
Official seal of County of San Benito (Photo credit: Wikipedia)

 

Single Family Residential

____________________________________________________
Actives
San Benito County-62 of which REO/Bank Owned-3 or 5%, Short Sales-2 or 3%
Hollister-38 of which REO/Bank Owned-1 or 3%, Short Sales-2 or 5%
Pendings
San Benito County-118 of which REO/Bank Owned-2 or 2%, Short Sales-52 or 44%
Hollister-96 of which REO/Bank Owned-1 or 1%, Short Sales-44 or 46
Absorption Rate
San Benito County-.52 months supply of inventory or 16-days
Hollister-.40 months supply of inventory or 12-days
____________________________________________________
Solds for the Week: 3
High: $370,000 Short Sale, New Conv 1st
Low:  $190,000 Short Sale, All Cash
Full-Price/Over-Asking: 3 or 100%
Average Square Footage: 1438sf
Average Price/Square Foot: $190.22
Average Sales Price: $278,333.00
____________________________________________________
Sale Type
Short Sales: 2 or 66.6%
Traditional Sale: 1 or 33.3%
REO/Bank Owned: None
____________________________________________________
Financing Type
New Conv. 1st: 2 or 66.6%
All Cash: 1 or 33.3%
____________________________________________________

Got a call last night from an appraiser. Needed to know a “Pending Sale” Price. He said they’re are finding they need to check on “Pending Sale” Prices to support increasing values in the marketplace. He said most “Pending Sales” have a sale price higher then their list price and they can use that info to support the movement of the market upward.
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Hollister, San Benito County Real Estate Market Update for June 15, 2013

Solds for the Week of 06-15-13

Official seal of County of San Benito
Official seal of County of San Benito (Photo credit: Wikipedia)

 

Single Family Residential

___________________________________________________________________
Actives
San Benito County-66 of which REO/Bank Owned-1 or 2%, Short Sales-3 or 5%
Hollister-40 of which REO/Bank Owned-1 or 3%, Short Sales-1 or 3%
Pendings
San Benito County-112 of which REO/Bank Owned-4 or 4%, Short Sales-53 or 47%
Hollister-91 of which REO/Bank Owned-2 or 2%, Short Sales-47 or 51%
Absorption Rate
San Benito County- .59 months supply of inventory or 18-days
Hollister-.44 months supply of inventory or 13-days
___________________________________________________________________
Solds for the Week: 12
High: $529,800 Regular Sale, FHA Loan
Low: $205,000, Regular Sale, New Conv 1st
Full-Price/Over-Asking: 10 or 83%
Average Square Footage: 1901sf
Average Sales Price: $384,400.00
Average Price/Square Foot: $212.97
___________________________________________________________________
Sale Type
Regular Sale: 10 or 83%
REO/Bank Owned: 1 or 8%
Short Sale: 1 or 8%
___________________________________________________________________
Financing Type
New Conv 1st: 4 or 33%
FHA Loan: 3 or 25%
VA Loan: 2 or 17%
USDA Loan: 2 or 17%
All CASH: 1 or 8%
___________________________________________________________________
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Hollister, San Benito County Market Update for April 27, 2013

Solds for the Week of 04-27-13

Official seal of County of San Benito
Official seal of County of San Benito (Photo credit: Wikipedia)

 

Single Family Residential 

_____________________________________________________________________________
Actives
San Benito County-63 of which REO/Bank Owned-2 or 3%, Short Sales-1 or 2%
Hollister-38 of which REO/Bank Owned-None, Short Sales-1 or 3%
Pendings
San Benito County-138 of which REO/Bank Owned-6 or 4%, Short Sale-67 or 49%
Hollister-113 of which REO/Bank Owned-5 or 4%, Short Sales-58 or 57%
Absorption Rate
San Benito County-.46 months supply of inventory or 14-days
Hollister-.34 months supply of inventory or 10-days
_____________________________________________________________________________
Solds for the Week: 9
High: $750,000, Traditional Sale, New Conv 1st
Low:  $310,000, Traditional Sale, FHA Loan
Full-Price/Over-Asking: 6 or 67%
Average Sales Price: $471,835.00
Average Square Footage: 2227sf
Average Price/Square Foot: $224/sf
_____________________________________________________________________________
Sale Type
Traditional Sale: 8 or 89%
Short Sale: 1 or 11%
REO/Bank Owned: None
_____________________________________________________________________________
Financing Type
New Conv. 1st: 4 or 45%
FHA Loan: 3 or 33%
USDA Loan: 1 or 11%
All CASH: 1 or 11%
_____________________________________________________________________________
 What stands out this week?
The lack of Bank Owned Properties and Short Sales….
Do I think we no longer have distressed homeowners…No.
Due to the California Homeowner’s Bill of Rights that took effect January 1st, 2013 the rate of foreclosures has further ground to a halt leaving many distressed properties and homeowner’s in a Zombieland.
Some homeowner’s have gotten relief through loan modification and or principle forgiveness.
The magic number for principle forgiveness appears to be about $150,000. I have not heard of any numbers higher then that.
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Hollister, San Benito County Real Estate Market Update for April 20th, 2013

Solds for the Week of 04-20-13

Official seal of County of San Benito
Official seal of County of San Benito (Photo credit: Wikipedia)

 

Single Family Residential

____________________________________________________________________
Active
San Benito County-67 of which REO/Bank Owned-3 or 4%, Short Sales-3 or 4%
Hollister-42 of which REO/Bank Owned-none, Short Sales-3 or 7%
Pending
San Benito County-138 of which REO/Bank Owned-5 or 4%, Short Sales-64 or 46%
Hollister-110 of which REO/Bank Owned-5 or 5%, Short Sales-55 or 50%
Absorption Rate
San Benito County-.49 months supply of inventory or 15-days
Hollister-.38 months supply of inventory or 11-days
_____________________________________________________________________
Solds for the Week: 11
High: $625,000 Traditional Sale, All Cash
Low:  $225,000 Traditional Sale, New Conv 1st
Full-Price/Over-Asking: 7 or 64%
Average Sales Price: $352,591
Average Price/Square Foot: $209.10
Average Square Footage: 1710sf
_____________________________________________________________________
Sale Type
Traditional Sale: 9 or 82%
REO/Bank Owned: 1 or 9%
Short Sales: 1 or 9%
_____________________________________________________________________
Financing Type
New Conv 1st: 3 or 27%
FHA Loan: 3 or 27%
All Cash: 3 or 27%
USDA Loan: 1 or 19%
_____________________________________________________________________
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