Lori Uhl McClelland's Blog

Single Family Residential

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Actives:

San Benito County-154 of which REO/Bank Owned-28 or 18%

Hollister-87 of which REO/Bank Owned-18 or 21%

Pendings:

San Benito County-223 of which REO/Bank Owned-47 or 21%

Hollister-186 of which REO/Bank Owned-37 or 20%

Absorption Rate:

San Benito County-.69 month’s supply of inventory or 21 Days

Hollister-.47 month’s supply of inventory or 14 Days

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Solds for the week: 9

High: $610,000 REO/Bank Owned-New Conv. 1st

Low:  $240,000 REO/Bank Owned-FHA Loan

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

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Sale Type

REO/Bank Owned: 5 or 56%

Short Sale: 2 or 22%

Equity Sale: 2 or 22%

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Financing Type

New Conv. 1st: 5 or 56%

FHA Loan: 2 or 22%

USDA Loan: 2 or 22%

All CASH: none

Single Family Residential

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Actives:

San Benito County-149 of which REO/Bank Owned-25 or 17%

Hollister-83 of which REO/Bank Owned-16 or 20%

Pendings:

San Benito County-215 of which REO/Bank Owned-47 or 22%

Hollister-182 of which REO/Bank Owned-36 or 20%

Absorption Rate:

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

Hollister-.46 months supply of inventory or 14days

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Solds for the week: 14

High: $839,000 Short Sale, All CASH

Low:  $155,000 REO/Bank Owned, New Conv. 1st

Full-Price or Over-Asking: 7 or 50%

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Sale Type:

REO/Bank Owned-8 or 57%

Equity Sale-4 or 29%

Short Sale-2 or 14%

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Financing Type:

FHA Loan-5 or 36%

New Conv. 1st-4 or 29%

All CASH-3 or 21%

USDA Loan-1 or 7%

Seller Carry-Back-1 or 7%

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Wow! A Seller Carry-Back……the whole world would have us believe that nobody has any equity in their property when I’ve been told a several industry events that 30% of U.S. homes have no mortgage against them….things that make ya go hummmmm…..

Single Family Residential

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Actives:

San Benito County-139 of which REO/Bank Owned-28 or 20%

Hollister-76 of which REO/Bank Owned-17 or 22%

Pendings:

San Benito County-222 of which REO/Bank Owned-47 or 21%

Hollister-186 of which REO/Bank Owned-37 or 20%

Absorption Rate:

San Benito County-.63 months supply of inventory or 19 days

Hollister-.41 months supply of inventory or 12 days

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Solds for the week: 19

High: $725,000 Equity Sale-New Conv. 1st

Low:  $214,000 Equity Sale-FHA Loan

Full-Price or Over-Asking: 9 or 47%

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Sale Type

REO/Bank Owned: 10 or 53%

Short Sale: 2 or 11%

Equity Sale: 7 or 37%

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Financing Type

New Conv. 1st: 8 or 42%

FHA Loan: 7 or 37%

All CASH: 2 or 11%

VA Loan: 2 or 11%

Wow! A big week for closings…..Wondering if now we’re over the hump of lenders having to use the new GFE-Good Faith Estimate. We have not seen this many Equity Sales close in one week in I can’t remember and the high closing was in the $700,000 range and the low was in the $200,000 range. For weeks we’ve had closings under $200,000.

Single Family Residential

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 Actives:

San Benito County-144 of which REO/Bank Owned-28 or 19%

Hollister-76 of which REO/Bank Owned-19 or 25%

Pendings:

San Benito County-222 of which REO/Bank Owned-47 or 21%

Hollister-190 of which REO/Bank Owned-36 or 19%

Absorption Rate:

San Benito County-.65 month’s supply of inventory or 20days

Hollister-.40 month’s supply of inventory or 12days

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 Solds for the weeks: 8

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

Low- $175,000 REO/Bank Owned, New Conv.1st

Full-Price or Over-Asking-7 or 88%

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Sale Type:

REO/Bank Owned-6 or 75%

Short Sale-2 or 25%

Equity Sale-none

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 Financing Type:

New Conventional 1st-5 or 63%

FHA Loan-1 or 13%

USDA Loan-1 or 13%

All Cash-1 or 13%

2010 Hollister/San Benito County Housing Expo Flyer

2010 Hollister/San Benito County Housing Expo Agenda

My office is pleased that we are participating in the upcoming 2010 Housing Expo for Hollister and San Benito County.  All agents in my office are CDPE credentialed ~ Certified Distressed Property Expert.  We will have a display table with valuable information available offered to help distressed homeowners. We will be at the event on Thursday 25th. Stop by and say hello!

Single Family Residential

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Active:

San Benito County-143 of which REO/Bank Owned-22 or 15%

Hollister-82 of which REO/Bank Owned-14 or 17%

Pending:

San Benito County-207 of which REO/Bank Owned-47 or 23%

Hollister-172 of which REO/Bank Owned-39 or 23%

Absorption Rate:

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

Hollister-.48 months supply of inventory or 14 Days

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Solds for the week: 17

High: $1,225,000 Equity Sale, New Conv. 1st

Low:  $79,900 REO/Bank Owned, All CASH

Full-Price or Over-Asking: 7 or 41%

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Sale Type

REO/Bank Owned: 11 or 65%

Short Sale: 1 or 6%

Equity Sale: 5 or 29%

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Financing Type

New Conv. 1st: 9 or 52%

FHA Loan: 4 or 24%

All CASH: 4 or 24%

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 Wow! A big week for closings….

Single Family Residential

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Active:

  San Benito County-133 of which REO/Bank Owned-18 or 14%

  Hollister-73 of which REO/Bank Owned-11 or 15%

Pending:

  San Benito County-216 of which REO/Bank Owned-52 or 24%

  Hollister-179 of which REO/Bank Owned-41 or 23%

Absorption Rate:

  San Benito County-.62 month’s supply of inventory or 19days

  Hollister-.41 month’s supply of inventory or 12days

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Solds for the week: 11

  High: $820,000  New Conv. 1st, Equity Sale

        Property appraised for $750,000! Buyer paid $70,000

        over appraised value.

  Low:  $140,000  FHA Loan, REO/Bank Owned

Full-Price or Over-Asking: 6 or 55%

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Sale Type

REO/Bank Owned: 5 or 45%

Equity Sale: 6 or 55%

Short Sale: none

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Financing Type

New Conv. 1st: 6 or 55%

FHA Loan: 2 or 18%

All CASH: 1 or 9%

VA Loan: 1 or 9%

USDA Loan: 1 or 9%

Single Family Residential

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Active:

  San Benito County-133 of which REO/Bank Owned-20 or 15%

  Hollister-72 of which REO/Bank Owned-11 or 15%

Pending:

  San Benito County-218 of which REO/Bank Owned-51 or 23%

  Hollister-102 of which REO/Bank Owned-42 or 41%

Absorption Rate:

  San Benito County-.61 month’s supply of inventory or 18 days

  Hollister-.71 month’s supply of inventory or 21 days

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Solds for the week: 10

  High-$345,000  REO/Bank Owned, New Conv. 1st

  Low- $165,000  REO/Bank Owned, FHA Loan

Full Price or Over Asking-7 or 70%

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Sale Type

  REO/Bank Owned-7 or 70%

  Short Sale-3 or 30%

  Equity Sale- none

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Financing Type

  New Conv. 1st-5 or 50%

  FHA Loan-4 or 40%

  All CASH-1 or 10%

Single Family Residential

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Actives:

  San Benito County-136 of which REO/Bank Owned-28 or 21%

  Hollister-72 of which REO/Bank Owned-17 or 24%

Pendings:

  San Benito County-209 of which REO/Bank Owned-45 or 22%

  Hollister-178 of which REO/Bank Owned-38 or 21%

Absorption Rate:

  San Benito County-.65 months supply of inventory or 19.5 days.

  Hollister-.40 months supply of inventory or 12 days.

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Solds for the week: 9

High: $650,000 REO/Bank Owned, FHA Loan

Low:  $125,000 Equity Sale, All Cash

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

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Sale Type

REO: 6 or 67%

Equity Sale: 3 or 33%

Short Sale: none

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 Financing Type

New Conv 1st: 2 or 22%

FHA Loan: 3 or 33%

All Cash: 4 or 44%

Single Family Residential

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Active:

  San Benito County-140 of which REO/Bank Owned-30 or 21%

  Hollister-80 of which REO/Bank Owned-22 or 28%

Pending:

  San Benito County-209 of which REO/Bank Owned-40 or 19%

  Hollister-173 of which REO/Bank Owned-31 or 18%

Absorption Rate:

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

  Hollister-.46 months supply of inventory ~ 14 days

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Sold’s for the week: 14

  High-$565,000 Equity Sale, All Cash

  Low- $69,000 REO/Bank Owned, All Cash

Full-Price or Over-Asking: 7 or 50%

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Sale Type:

  REO/Bank Owned-7 or 50%

  Short Sale-2 or 14%

  Equity Sale-5 or 36%

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Financing Type:

  New Conv. 1st-5 or 36%

  FHA Loan-6 or 43%

  All Cash-2 or 14%

  VA Loan-1 or 7%

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A busy week of closings considering the holidays!