Lori Uhl McClelland's Blog

5 Things to do before you sell your home!

10 Deadly Mistakes Buyers Make

Single Family Residential

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Active:

San Benito County-149 of which REO/Bank Owned-24 or 16%

Hollister-87 of which REO/Bank Owned-20 or 23%

Pending:

San Benito County-212 of which REO/Bank Owned-33 or 16%

Hollister-177 of which REO/Bank Owned-27 or 15%

Absorption Rate:

San Benito County-.70 months supply of inventory or 15/days

Hollister-.49 months supply of inventory or 15/days

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Solds for the week: 18 (few late reportings skew the total)

High-$459,000 Short Sale, All CASH

Low- $140,000 REO/Bank Owned, All CASH

Full-Price/Over-Asking-9 or 50%

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Sale Type

REO/Bank Owned:7 or 39%

Short Sale:7 or 39%

Equity Sale:4 or 22%

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Financing Type

FHA Loan:7 or 39%

New Conv 1st:6 or 33%

All CASH:4 or 22%

USDA Loan:1 or 7%

http://www.cdpe.com/files/advanced/1004-1-HAFA/foreclosure-vs-shortsale-flyer.pdf

Single Family Residential

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Actives:

San Benito County-156 of which REO/Bank Owned-24 or 15%

Hollister-90 of which REO/Bank Owned-19 or 21%

Pendings:

San Benito County-234 of which REO/Bank Owned-39 or 17%

Hollister-198 of which REO/Bank Owned-32 or 16%

Absorption Rate:

San Benito County-.67 months supply of inventory or 20-days

Hollister-.45 months supply of inventory or 13.5-days

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Solds for the week: 9

High: $675,000 Equity Sale, New Conv. 1st

Low:  $240,000 Short Sale, New Conv. 1st

Full-Price or Over-Asking: 6 or 67%

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Sale Type:

REO/Bank Owned-4 or 44%

Short Sale-3 or 33%

Equity Sale-2 or 22%

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Financing Type:

New Conv. 1st-4 or 44%

All CASH-2 or 22%

USDA Loan-2 or 22%

FHA Loan-1 or 11%

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Single Family Residential

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Active:

San Benito County-152 of which REO/Bank Owned-25 or 16%

Hollister-88 of which REO/Bank Owned-20 or 23%

Pending:

San Benito County-236 of which REO/Bank Owned-38 or 16%

Hollister-198 of which REO/Bank Owned-31 or 16%

Absorption Rate:

San Benito County-.64 months supply of inventory or 19 days

Hollister-.44 months supply of inventory or 13 days

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Sold’s for the week: 16

High-$700,000 Short Sale, New Conv. 1st

Low- $163,000 REO/Bank Owned, USDA Loan

Full-Price or Over-Asking- 7 or 44%

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Sale Type:

Short Sale-7 or 44%

Equity Sale-6 or 38%

REO/Bank Owned-3 or 19%

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Financing Type:

New Conventional 1st-7 or 44%

FHA Loan-6 or 38%

All CASH-2 or 13%

USDA Loan-1 or 6%

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Wow! Big week for the Sold’s….Short Sales and Equity Sales dethroned the REO/Bank Owned properties as the big players.

Single Family Residential

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Active:

San Benito County-149 of which REO/Bank Owned-22 or 15%

Hollister-93 of which REO/Bank Owned-19 or 20%

Pending:

San Benito County-240 of which REO/Bank Owned-39 or 16%

Hollister-200 of which REO/Bank Owned-32 or 16%

Absorption Rate:

San Benito County-.62 months supply of inventory or 19 days

Hollister-.47 months supply of inventory or 14 days

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Solds for the week: 11

High-$470,000 REO/Bank Owned, New Conv. 1st

Low- $70,000  REO/Bank Owned, All CASH

Full-Price or Over-Asking: 7 or 64%

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Sale Type

REO/Bank Owned-6 or 55%

Equity Sale-3 or 27%

Equity Sale-2 or 18%

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Financing Type

New Conv. 1st-6 or 55%

FHA Loan-2 or 18%

All CASH-2 or 18%

VA Loan-1 or 9%

Single Family Residential

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Active:

San Benito County-160 of which REO/Bank Owned-25 or 16%

Hollister-101 of which REO/Bank Owned-22 or 22%

Pending:

San Benito County-240 of which REO/Bank Owned-39 or 16%

Hollister-197 of which REO/Bank Owned-29 or 15%

Absorption Rate:

San Benito County-.67 months supply of inventory or 20-days

Hollister-.51 months supply of inventory or 15-days

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Solds for the week: 11

High-$630,000 REO/Bank Owned, New Conv. 1st

Low- $120,000 REO/Bank Owned, All CASH

Full Price or Over Asking- 6 or 55%

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Sale Type:

REO/Bank Owned-7 or 64%

Short Sale-3 or 27%

Equity Sale-1 or 9%

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Financing Type:

New Conv. 1st-4 or 36%

FHA Loan-4 or 36%

All CASH-3 or 28%

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Single Family Residential

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Actives:

San Benito County-163 of which REO/Bank Owned-27 or 17%

Hollister-100 of which REO/Bank Owned-20 or 20%

Pendings:

San Benito County-233 of which REO/Bank Owned-38 or 16%

Hollister-193 of which REO/Bank Owned-31 or 16%

Absorption Rate:

San Benito County-.70 months supply of inventory or 21-days

Hollister-.52 months supply of inventory or 16-days

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Solds for the week: 13

High-$825,000 Short Sale, New Conv. 1st

Low- $70,000  REO/Bank Owned, All CASH

Full-Price or Over-Asking-2 or 15%

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Sale Type

REO/Bank Owned-6 or 46%

Short Sale-4 or 31%

Equity Sale-3 or 23%

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 Financing Type

All CASH-5 or 38%

FHA Loan-4 or 31%

New Conv. 1st-3 or 23%

USDA Loan-1 or 8%

Single Family Residential

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Actives:

San Benito County-160 of which REO/Bank Owned-29 or 18%

Hollister-96 of which REO/Bank Owned-20 or 21%

Pendings:

San Benito County-231 of which REO/Bank Owned-37 or 16%

Hollister-190 of which REO/Bank Owned-30 or 16%

Absorption Rate:

San Benito County-.69 months supply of inventory or 21 days

Hollister-.51 months supply of inventory or 15 days

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Solds for the week: 20

High: $605,000 REO/Bank Owned, New Conv. 1st

Low:  $115,000 REO/Bank Owned, All CASH

Full-Price or Over-Asking: 16 or 80%

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Sale Type

REO/Bank Owned: 12 or 60%

Short Sale: 6 or 30%

Equity Sale: 2 or 10%

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Financing Type

New Conv. 1st: 9 or 45%

FHA Loan: 8 or 40%

All CASH: 3 or 15%

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 Wow! Big week for closings…..Inventory appears to be creeeeping up….maybe due to the banks moving forward on more foreclosures that were stalled from last year….there were 54 Notices of Sale in the paper this week, have not seen numbers like that in well over a year.