Lori Uhl McClelland's Blog

Single Family Residential

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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
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Actives:
San Benito County-202 of which REO/Bank Owned-36 or 18%
Hollister-145 of which REO/Bank Owned-30 or 21%

Pendings:
San Benito County-184 of which REO/Bank Owned-40 or 22%
Hollister-153 of which REO/Bank Owned-33 or 22%

Absorption Rate:
San Benito County-1.10 months supply of inventory or 33 days
Hollister- .95 months supply of inventory or 28.5 days
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Solds for the week: 10
High: $590,000 REO/Bank Owned, USDA Loan?
Low:  $125,900 REO/Bank Owned, All CASH
Full-Price/Over-Asking: 2 or 20%
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Sale Type:
REO-6 or 60%
Short Sale-2 or 20%
Equity Sale-2 or 20% (1 was investor flip)
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Financing Type:
All CASH-4 or 40%
New Conv. 1st-2 or 20%
FHA Loan-2 or 20%
USDA Loan-2 or 20%

Single Family Residential

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Active Homes:

San Benito County-173 of which REO/Bank Owned-25 or 14%

Hollister-105 of which REO/Bank Owned-21 or 10%

Pending Homes:

San Benito County-195 of which REO/Bank Owned-38 or 19%

Hollister-157 of which REO/Bank Owned-32 or 20%

Absorption Rate:

San Benito County-.89 months supply of inventory or 27-days

Hollister-.67 months supply of inventory or 20-days

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Solds for the week: 13

High-$396,000 Equity Sale, New Conv 1st

Low- $142,000 REO/Bank Owned, FHA Loan

Full-Price/Over-Asking-9 or 71%

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Sale Type:

Equity Sale-5 or 38%

        Investor Flip-2 or 15% of the total solds

REO/Bank Owned-4 or 31%

Short Sale-4 or 31%

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Financing Type:

FHA Loan-6 or 46%

New Conv 1st-5 or 38%

VA Loan-1 or 8%

All Cash-1 or 8%

Single Family Residential

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Actives:

San Benito Couny-167 of which REO/Bank Owned-26 or 16%

Hollister-99 of which REO/Bank Owned-24 or 24%

Pendings:

San Benito County-206 of which REO/Bank Owned-38 or 18%

Hollister-170 of which REO/Bank Owned-32 or 19%

Absorption Rate:

San Benito County-.81 months supply of inventory or 24-days

Hollister-.58 months supply of inventory or 17-days

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Solds for the week: 9

High-$530,000 Equity Sale-All CASH

Low- $145,000 Equity Sale-Seller carried New 1st

Full-Price or Over-Asking-2 or 22%

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Sale Type:

Equity Sale-6 or 67%

Short Sale- 2 or 22%

REO/Bank Owned-1 or 11%

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Financing Type:

New Conv. 1st-3 or 33%

FHA Loan- 2 or 22%

All CASH- 3 or 22%

VA Loan-  1 or 11%

Seller Financing-1 or 11%

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 Wow! Equity Sales still rule the day and a new one….Seller Financing!

Single Family Residential

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Active:

San Benito County-169 of which REO/Bank Owned-26 or 15%

Hollister-98 of which REO/Bank Owned-21 or 21%

Pending:

San Benito County-195 of which REO/Bank Owned-33 or 17%

Hollister-165 of which REO/Bank Owned-31 or 19%

Absorption Rate:

San Bentio County-.87 months supply of inventory or 26/days

Hollister-.59 months supply of inventory or 18/days

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Solds for the week: 16

High-$545,000 Equity Sale, FHA Loan

Low- $220,000 Short Sale, New Conv. 1st

Full-Price or Over-Asking: 5 or 31%

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Sale Type:

Equity Sale-8 or 50%

   Of those 8 – 5 were Investor FLIPS or

   63% of the Equity Sales!

REO/Bank Owned-4 or 25%

Short Sale-4 or 25%

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Financing Type:

New Conv. 1st-8 or 50%

FHA Loan-6 or 38%

All CASH-2 or 12%

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 I think I might need to add a new category under Sale Type: Investor FLIPS! 63% of the Equity Sales were Investor FLIPS and actually as a % of the total Solds they were 31%!

Single Family Residential

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Actives:

San Benito County-166 of which REO/Bank Owned-23 or 14%

Hollister-99 of which REO/Bank Owned-19 or 19%

Pendings:

San Benito County-195 of which REO/Bank Owned-33 or 17%

Hollister-163 of which REO/Bank Owned-28 or 17%

Absorption Rate:

San Benito County-.85 months supply of inventory or 25/days

Hollister-.61 months supply of inventory or 18/days

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Solds for the week: 21 (another week of late reporting sales)

High: $545,000 Equity Sale, FHA Loan

Low:  $110,000 REO/Bank Owned, All CASH (Tammy’s deal)

Full-Price or Over-Asking: 11 or 52%

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Sale Type:

Equity Sale-9 or 43%

Short Sale-8 or 38%

REO/Bank Owned-4 or 19%

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Financing Type:

New Conventional 1st-9 or 43%

FHA Loan-9 or 43%

VA Loan-2 or 10%

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Wow! Another week of big numbers but really they’re cooked just like the jobs report this week! Many late reporting – Sold’s. One I noticed all the way back to April 15th!

Look! The Equity Sales were king of the hill! Who said there’s not Equity in the marketplace? One third of all US homes have no mortgage against them! You won’t hear that news in the media.

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-140 of which REO/Bank Owned-25 or 18%

Hollister-78 of which REO/Bank Owned-17 or 22%

Pending:

San Benito County-245 of which REO/Bank Owned-48 or 20%

Hollister-200 of which REO/Bank Owned-37 or 19%

 Absorption Rate:

San Benito County-.57 months supply of inventory or 17 days

Hollister-.39 months supply of inventory or 12 days

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Solds for the week: 12

High-$452,000 REO/Bank Owned, New Conv. 1st

Low- $137,000 Short Sale, FHA Loan

Full-Price or Over-Asking: 7 or 58%

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Sale Type:

REO/Bank Owned-8 or 67%

Short Sale-2 or 17%

Equity Sale-2 or 17%

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Financing Type:

FHA Loan-5 or 42%

New Conventional 1st-33%

USDA Loan-2 or 17%

VA Loan-1 or 8%

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The stats remain very consistant week after week……