Lori Uhl McClelland's Blog

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%!

http://www.youtube.com/watch?v=8TXx8rKy-Ow

Just click on the link above…..

Mortgage Troubles ~ There Are Dignified Solutions

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.

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%

Single Family Residential

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Actives:

San Benito County-153 of which REO/Bank Owned-22 or 14%

Hollister-91 of which REO/Bank Owned-18 or 20%

Pendings:

San Benito County-224 of which REO/Bank Owned-37 or 17%

Hollister-185 of which REO/Bank Owned-30 or 16%

Absorption Rate:

San Benito County-.68 months supply of inventory or 14-Days

Hollister-.49 months supply of inventory or 15-Days

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Solds for the week: 18

High-$499,900 Equity Sale-New Construction, FHA Loan

Low-$205,000 Equity Sale, FHA Loan

Full-Price or Over-Asking: 11 or 61%

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Sale Type

Equity Sale-8 or 44% (4 New Construction-Anderson Homes)

REO/Bank Owned-7 or 39%

Short Sale-3 or 17%

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Financing Type

New Conventional 1st-9 or 50%

FHA Loan-7 or 39%

VA Loan-1 or 6%

All CASH-1 or 6%

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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