Hollister, San Benito County Real Estate Market Update for August 16th, 2014

Solds for the Week of 08-16-14

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

 

Single Family Residential

_____________________________
Actives
San Benito County-115 of which REO/Bank Owned-None, Short Sales-6 or 5%
Hollister-53 of which REO/Bank Owned-None, Short Sales-4 or 8%
Pendings
San Benito County-89 of which REO/Bank Owned-2 or 2%, Short Sales-19 or 21%
Hollister-67 of which REO/Bank Owned-2 or 3%, Short Sales-18 or 27%
Absorption Rate
San Benito County-1.29 month supply of inventory or 39-days
Hollister-.79 months supply of inventory or 24-days
_____________________________
Solds for the Week: 10
High: $615,000 Regular Sale, All Cash
Low: $265,000 Regular Sale, USDA Loan
Full-Price/Over-Asking: 5 or 50%
Average DOM: 32-days
Average Square Footage: 2003sf
Average Price/Square Foot: $203.45/sf
Average Sale Price: $393,380
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Sale Type
Regular Sale: 8 or 80%
REO/Bank Owned: 1 or 10%
Short Sales: 1 or 10%
_____________________________
Financing Type
New Conv 1st: 4 or 40%
USDA Loan: 3 or 30%
All CASH: 2 or 20%
FHA Loan: 1 or 10%
_____________________________

Hollister, San Benito County Real Estate Market Update for July 5th, 2014

Solds for the Week of 07-05-14

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

 

Single Family Residential

_______________________
Actives
San Benito County-102 of which REO/Bank Owned-2 or 2%, Short Sales-2 or 2%
Hollister-56 of which REO/Bank Owned-2 or 4%, Short Sales-1 or 2%
Pendings
San Benito County-87 of which REO/Bank Owned-3 or 4%, Short Sales-21 or 24%
Hollister-68 of which REO/Bank Owned-3 or 4%, Short Sales-18-26%
Absorption Rate
San Benito County-1.2 months supply of inventory or 35-days
Hollister-.82 months supply of inventory or 25-days
______________________
Solds for the Week: 9
High: $675,000 Regular Sale, All Cash
Low:  $ 280,000, Regular Sale, USDA Loan
Full-Price/Over-Asking: 4 or 44%
Average Days on Market: 28-days
Average Square Footage: 1804sf
Average Price/Square Foot: $276.21/sf
Average Sale Price: $487,222.00
______________________
Sale Type
Regular Sale:9 or 100%
REO/Bank Owned: None
Short Sales:None
______________________
Financing Type
New Conv 1st: 4 or 44%
FHA Loan: 3 or 33%
All Cash: 1 or 11.5%
USDA: 1 or 11.5%
______________________

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 August 11, 2012

Solds for the week of 08-11-12

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

 

Single Family Residential

______________________________________________________________
Actives
San Benito County-92 of which REO/Bank Owned-10 or 11%, Short Sales-15 or 16%
Hollister-45 of which REO/Bank Owned-7 or 16%, Short Sales-10 or 22%
Pendings
San Benito County-174 of which REO/Bank Owned-19 or 11%, Short Sales-115 or 66%
Hollister-138 of which REO/Bank Owned-13 or 9%, Short Sales-101 or 73%
Absorption Rate
San Benito County-.53 months supply of inventory or 16-Days
Hollister-.33 months supply of inventory or 10-Days
______________________________________________________________
Solds for the Week: 6
High: $395,000 Traditional Sale, USDA Loan
Low:  $170,000 Short Sale, FHA Loan
Full-Price/Over-Asking: 4 or 66.6%
______________________________________________________________
Sale Type
Traditional Sale-3 or 50%
Short Sale-2 or 33.3%
REO/Bank Owned-1 or 16.6%
______________________________________________________________
Financing Type
New Conv. 1st-3 or 50%
FHA Loan-1 or 16.6%
USDA Loan-1 or 16.6%
VA Loan-1 or 16.6%
______________________________________________________________
Quote from the guy’s at TBWS Daily ~ “We honestly believe we have a mini-bubble going on right now.  Rates and home prices are super low, government refinance programs are flourishing and banks are holding back inventory reducing supply which is giving us a false demand.”
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Hollister, San Benito County Real Estate Marketpdate for June 02, 2012

 

 

Single Family Residential
___________________________________________________________
Actives
San Benito County-84 of which REO/Bank Owned-12 or 14%, Short Sales-17 or 20%
Hollister-40 of which REO/Bank Owned-8 or 20%, Short Sales-12 or 30%

 

Pendings
San Benito County-176 of which REO/Bank Owned-23 or 13%, Short Sales-114 or 65%
Hollister-147 of which REO/Bank Owned-18 or 12%, Short Sales-99 or 67%

 

Absorption Rate
San Benito County-.48 months supply of inventory or 14-Days
Hollister-.27 months supply of inventory or 8-Days
___________________________________________________________
Solds for the week: 15
High: $575,000  REO/Bank Owned, New Conv 1st
Low:  $156,100  Traditional Sale, USDA Loan
Full-Price/Over-Asking: 9 or 60%
___________________________________________________________
Sale Type
Traditional: 7 or 46%
REO/Bank Owned: 4 or 27%
Short Sale: 4 or 27%
___________________________________________________________
Financing Type
New Conv 1st-6 or 40%
FHA Loan-5 or 33%
All CASH-1 or 6.5%
VA Loan-1 or 6.5%
USDA Loan-1 or 6.5%
Reverse Mortgage-1 or 6.5%

___________________________________________________________

 

 

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Hollister, San Benito County Real Estate Market Update for March 10, 2012

Single Famiy Residential

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Actives

San Benito County-119 of which REO/Bank Owned-27 or 23%, Short Sales-30 or 2%

Hollister-79 of which REO/Bank Owned-19 or 24%, Short Sales-28 or 35%

Pendings

San Benito County-186 of which REO/Bank Owned-25 or 13%, Short Sales-114 or 61%

Hollister-149 of which REO/Bank Owned-20 or 13%, Short Sales-91 or 61%

Absorption Rate

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

Hollister-.53 months supply of inventory or 16-days

________________________________________________________

Solds for the week: 8

High: $290,000 Short Sale, New Conv. 1st

Low: $86,500 REO/Bank Owned, All CASH

Full-Price/Over-Asking: 4 or 50%

________________________________________________________

Sale Type

Short Sale: 3 or 37.5%

Traditional Sale: 3 or 37.5%

REO/Bank Owned: 2 or 25%

________________________________________________________

Financing Type

All CASH: 3 or 37.5%

FHA Loan: 2 or 25%

USDA Loan: 2 or 25%

New Conv. 1st: 1 or 12.5%

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