Hollister, San Benito County Real Estate Market Update for April 13, 2013

Solds for the Week of 04-13-13

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

 

Single Family Residential

_____________________________________________________________________
Actives
San Benito County-68 of which REO/Bank Owned-5 or 7%, Short Sales-5 or 7%
Hollister-45 of which REO/Bank Owned-3 or 7%, Short Sales-5 or 11%
Pendings
San Benito County-137 of which REO/Bank Owned-3 or 2%, Short Sales-63 or 46%
Hollister-107 of which REO/Bank Owned-3 or 3%, Short Sales-54 or 50%
Absorption Rate
San Benito County-.50 months supply of inventory or 15-Days
Hollister-.42 months supply of inventory or 13-Days
_____________________________________________________________________
Solds for the Week: 6
High: $825,000 New Conv 1st, Regular Sale
Low:  $230,000 New Conv 1st, Regular Sale
Full-Price/Over-Asking: 3 or 50%
Average Square Footage: 2529sf
Average Price/Square Foot: $205/sf
Average Sales Price: $514,667.00
_____________________________________________________________________
Sale Type
Traditional Sale: 6 or 100%
New Conv 1st: none
FHA Loan: none
_____________________________________________________________________
Financing Type
FHA Loan: 3 or 50%
New Conv 1st: 2 or 33%
Cash: 1 or 17%
_____________________________________________________________________
Well, Cash remains king in the marketplace. Every buyer has a chance in the until the
cash buyer shows up! My neighbors house came on the market this past week. Priced quite
high for the square footage and condition. Felt like I spent all day there showing to my 2 buyer’s
looking for horse property. Tammy showed it to her buyers too. They wanted to write an offer
however the listing agent said never mind I already have an over-list price cash offer…and the
ever popular 20-day close for a cash deal. Thank new neighbor for driving up my property value
about $100,000 like that over night! Maybe NOW I can do a refi……
Enhanced by Zemanta

Hollister, San Benito County Real Estate Market Update for March 2, 2013

Solds for the Week of 03-02-13

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

 

Single Family Residential

_____________________________________________________________________
Actives
San Benito County-54 of which REO/Bank Owned-1 or 2%, Short Sales-5 or 9%
Hollister-32 of which REO/Bank Owned-0, Short Sales-5 or 16%
Pendings
San Benito County-134 of which REO/Bank Owned-8 or 6%, Short Sales-74 or 55%
Hollister-112 of which REO/Bank Owned-7 or 6%, Short Sales-66 or 59%
Absorption Rate
San Benito County-.40 months supply of inventory or 12-Days
Hollister-.28 months supply of inventory or 8.6-Days
_____________________________________________________________________
Sold’s for the Week: 5
High: $520.000 Traditional Sale, New Conv. 1st
Low:  $315,000 Short Sale, FHA Loan
Full-Price/Over-Asking: 2 or 40%
Average Sales Price: $414,400
Average Price/Square Foot: $190
_____________________________________________________________________
Sale Type
Traditional Sale: 2 or 40%
Short Sale: 2 or 40%
REO/Bank Owned: 1 or 20%
_____________________________________________________________________
Financing Type
New Conv 1st: 2 or 40%
FHA Loan: 2 or 40%
USDA Loan: 1 or 20%
Enhanced by Zemanta

Hollister, San Benito County Real Estate Market Update for February 23, 2013

Solds for the Week of 02-23-13

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

 

Single Family Residential

______________________________________________________________________
Actives
San Benito County-47 of which REO/Bank Owned-NONE, Short Sales-4 or 8.5%
Hollister-23 of which REO/Bank Owned-NONE, Short Sales-4 or 17%
Pendings
San Benito County-137 of which REO/Bank Owned-10 or 7%, Short Sales-77 or 56%
Hollister-114 of which REO/Bank Owned-9 or 6%, Short Sales-67 or 59%
Absorption Rate
San Benito County-.34 months supply of inventory or 10-Days
Hollister-.20 months supply of inventory or 6-Days
______________________________________________________________________
Solds for the Week: 6
High: $570,000 Traditional Sale, New Conv 1st
Low:  $125,000 REO/Bank Owned, New Conv 1st
Full-Price/Over-Asking: 2 or 33%
Average Sales Price: $340,000
Average Square Footage: 1765sf
Average Price/SF: $196
______________________________________________________________________
Sale Type
Traditional Sale: 5 or 83%
REO/Bank Owned: 1 or 17%
Short Sales: None
______________________________________________________________________
Financing Type
New Conv 1st: 4 or 66%
USDA Loan: 1 or 17%
All CASH: 1 or 17%
______________________________________________________________________
Wow! For the first time in at least 6 years there are NO ACTIVE REO/BANK OWNED HOMES!
Do I believe we are past the distressed property market…absolutely not! Do I think government intervention and lawsuit agreements with the banks have successfully ground the market to halt? You decide…..Think about this…low inventory, low interest rates, high buyer demand=raising prices….recipe for????
Enhanced by Zemanta

Hollister, San Benito County Real Estate Market Update for February 16th, 2013

Solds for the Week of 02-16-13

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

 

 I think this article may be the best explanation of what’s really going on in the market!

On Foreclosure Radar from Oct 22 to now 107 sales have been cancelled. Granted some were successful Short Sales but I think most where due to the new law that went into effect for CA i.e no dual tracking the foreclosure yadda, yadda, yadda…

Single Family Residential
_____________________________________________________________________
Actives:
San Benito County-64 of which REO/Bank Owned-3 or 6%, Short Sales-7 or 13%
Hollister-29 of which REO/Bank Owned-3 or 10%, Short Sales-6 or 21%
Pendings:
San Benito County-136 of which REO/Bank Owned-8 or 6%, Short Sales-79 or 58%
Hollister-115 of which REO/Bank Owned-7 or 6%, Short Sales-70 or 61%
Absorption Rate:
San Benito County-.40 months supply of inventory or 12-Days
Hollister-.25 months suppl of inventory or 7.5-Days
_____________________________________________________________________
Solds for the Week: 9
High: $417,000 REO/Bank Owned, USDA Loan
Low:  $179,000 Traditional Sale, FHA Loan
Full-Price/Over-Asking: 6 or 67%
Average Price/Square Foot: $172.92
Average Square Footage: 1847sf
Average Sales Price: $303,833
_____________________________________________________________________
Sale Type
Traditional Sale: 5 or 56%
REO/Bank Owned: 2 or 22%
Short Sales: 2 or 22%
_____________________________________________________________________
Financing Type
New Conv. 1st: 4 or 44%
FHA Loan: 3 or 33%
USDA Loan: 2 or 22%
All CASH: none
Enhanced by Zemanta

Hollister, San Benito County Real Estate Market Update for February 9, 2013

Single Family Residential

Official seal of County of San Benito
Official seal of County of San Benito (Photo credit: Wikipedia)
_____________________________________________________________________
Actives
San Benito County-52 of which REO/Bank Owned-2 or 4%, Short Sales-3 or 6%
Hollister-29 of which REO/Bank Owned-2 or 7%, Short Sales-3 or 10%
Pendings
San Benito County-137 of which REO/Bank Owned-9 or 7%, Short Sales-82 or 60%
Hollister-116 of which REO/Bank Owned-7 or 6%, Short Sales-72 or 62%
Absorption Rate
San Benito County-.38 months supply of inventory or 11 days
Hollister-.25 months supply of inventory or 7.5 days
_____________________________________________________________________
Solds for the Week: 10
High: $579,900 Traditional Sale, New Conv 1st
Low:  $235,000 REO/Bank Owned, New Conv 1st
****Full-Price/Over-Asking: 8 or 80% – of those 3 were full-price and 5 were over list.
The lowest over-list was $10,000. The highest over was $49,000. The average $26,000
Ave. Square Footage: 2018sf
Ave. Sale Price: $374,090.00
Ave. Price/Square Foot: $181.18
______________________________________________________________________
Sale Type
Traditional Sale: 7 or 70%
REO/Bank Owned: 2 or 20%
Short Sale: 1 or 10%
______________________________________________________________________
Financing Type
All Cash: 3 or 30%
New Conv 1st: 3 or 30%
FHA Loan: 2 or 20%
VA Loan: 1 or 10%
USDA Loan: 1 or 10%
Enhanced by Zemanta

Hollister, San Benito County Real Estate Market Update for February 2, 2013

Solds for the Week of 02-02-13

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

 

Single Family Residential

_____________________________________________________________________
Actives:
San Benito County-55 of which REO/Bank Owned-3 or 5%, Short Sales-5 or 9%
Hollister-33 of which REO/Bank Owned-2 or 6%, Short Sales-5 or 15%
Pendings:
San Benito County-139 of which REO/Bank Owned-10 or 7%, Short Sales-82 or 59%
Hollister-117 of which REO/Bank Owned-9 or 8%, Short Sales-71 or 61%
Absorption Rate:
San Benito County-.39 months supply of inventory or 12-days
Hollister-.28 months supply of inventory or 8.5-days
_____________________________________________________________________
Solds for the Week: 14
High: $875,000 New Conv 1st, Traditional Sale (Dr. Bruce’s Vet Clinic)
Low:  $173,500 FHA Loan, REO/Bank Owned
Full-Price/Over-Asking: 4 or 29%
Average Price/Square Foot: $201.49
Average Sales Price: $429,607.00
_____________________________________________________________________
Sale Type
Traditional Sale: 11 or 79%
REO/Bank Owned: 2 or 14%
Short Sale: 1 or 7%
_____________________________________________________________________
Financing Type
New Conv 1st: 5 or 37%
FHA Loan: 4 or 28%
VA Loan: 2 or 14%
USDA Loan: 2 or 14%
All Cash: 1 or 7%
_____________________________________________________________________
**Of Note:
2843 Ty Drive was listed at $499,900. We were aware of at least 11 offer’s on the property and it closed for an astounding $605,000!
Sold for 20% over list price, OMG! That’s crazy!!!
Enhanced by Zemanta

Hollister, San Benito County Real Estate Market Update for January 5th, 2013

Solds for the Week of 01-05-13

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

 

Single Family Residential

_____________________________________________________________________
Actives
San Benito County-55 of which REO/Bank Owned-2 or 4%, Short Sales-5 or 9%
Hollister-33 of which REO/Bank Owned-1 or 3%, Short Sales-4 or 12%
Pendings
San Benito County-135 of which REO/Bank Owned-11 or 8%, Short Sales-79 or 59%
Hollister-117 of which REO/Bank Owned-11 or 9%, Short Sales-69 or 59%
Absorption Rate
San Benito County-.40 months supply of inventory or 12-days
Hollister-.28 months supply of inventory or 8.4-days
_____________________________________________________________________
Solds for the Week: 2
High: $809,000 New Conv 1st, Traditional Sale
Low:  $243,000 New Conv 1st, Short Sale
Full-Price/Over-Asking: 1 or 50%
Ave. Price/Square Foot: $166
Ave. Sales Price: $526,000
_____________________________________________________________________
Sale Type
Traditional Sale: 1 or 50%
Short Sale: 1 or 50%
_____________________________________________________________________
Don’t EVER remember the inventory being this low…not even during the run-up of the market!
Enhanced by Zemanta

Hollister, San Benito County Real Estate Market Update for December 29, 2012

Solds For the Week of 12-29-12

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

 

Single Family Residential

_____________________________________________________________________
Actives
San Benito County-57 of which REO/Bank Owned-4 or 7%, Short Sales-7 or 12%
Hollister-36 of which REO/Bank Owned-3 or 8%, Short Sales-4 or 11%
Pendings
San Benito County-135 of which REO/Bank Owned-10 or 7%, Short Sales-80 or 59%
Hollister-111 of which REO/Bank Owned-8 or 7%, Short Sales-69 or 62%
Absorption Rate
San Benito County-.42 months supply of inventory or 13-days
Hollister-.32 months supply of inventory or 10-days
_____________________________________________________________________
Solds for the Week: 10
High: $739,000 Traditional Sale, All Cash
Low:  $211,000 REO/Bank Owned, New Conv 1st
Full-Price/Over-Asking:7 or 70%
Average Sales Price: $375,670.00
Average Price/Square Foot: $223.49
_____________________________________________________________________
Sale Type
Traditional Sale: 6 or 60%
REO/Bank Owned: 2 or 20%
Short Sale: 2 or 20%
_____________________________________________________________________
Financing Type
New Conv 1st: 4 or 40%
FHA Loan: 2 or 20%
All Cash: 2 or 20%
VA Loan: 1 or 10%
Seller Financing: 1 or 10%
_____________________________________________________________________
Enhanced by Zemanta

Hollister, San Benito County Real Estate Market Update for December 15th, 2012

Solds for the Week of 12-15-12

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

 

Single Family Residential

_____________________________________________________________________
Actives
San Benito County-60 of which REO/Bank Owned-7 or 12%, Short Sales-3 or 5%
Hollister-37 of which REO/Bank Owned-5 or 14%, Short Sales-1 or 3%
Pendings
San Benito County-152 of which REO/Bank Owned-11 or 7%, Short Sales-90 or 59%
Hollister-121 of which REO/Bank Owned-8 or 7%, Short Sale-76 or 63%
Absorption Rate
San Benito County-.39 months supply of inventory or 12-days
Hollister-.31 months supply of inventory or 9-days
_____________________________________________________________________
Solds for the Week: 12
High: $625,000 Regular Sale, All CASH
Low:  $226,000 Regular Sale, FHA Loan
Full-Price/Over-Asking: 3 or 25%
Average Price/Square Foot: $183.50
Average Sales Price: $401,825.00
_____________________________________________________________________
Sale Type
Regular Sale: 8 or 67%
Short Sale: 4 or 33%
REO/Bank Owned: None
_____________________________________________________________________
Financing Type
New Conv. 1st: 4 or 42%
FHA Loan: 4 or 42%
All CASH: 1 or 8%
USDA Loan: 1 or 8%
_____________________________________________________________________
Enhanced by Zemanta

Hollister, San Benito County Real Estate Market Update for December 8, 2012

Solds for the Week of 12-08-12

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

 

Single Family Residential

_____________________________________________________________________
Actives
San Benito County-64 of which REO/Bank Owned-5 or 8%, Short Sales-5 or 8%
Hollister-41 of which REO/Bank Owned-3 or 7%, Short Sales-5 or 12%
Pendings
San Benito County-161 of which REO/Bank Owned-14 or 9%, Short Sales-92 or 57%
Hollister-125 of which REO/Bank Owned-10 or 8%, Short Sales-73 or 58%
Absorption Rate
San Benito County-.40 months supply of inventory or 12-days
Hollister-.33 months supply of inventory or 10-days
_____________________________________________________________________
Solds for the Week: 7
High: $489,500 Regular Sale, New Conv 1st
Low:  $165,700 Regular Sale, New Conv 1st
Full-Price/Over-Asking: 6 or 86%
Average Price/Square Foot: $167
Average Sale Price: $334,171
_____________________________________________________________________
Sale Type
Traditional Sale: 3 or 43%
REO/Bank Owned: 2 or 28.5%
Short Sales: 2 or 28.5%
_____________________________________________________________________
Financing Type
New Conv 1st: 4 or 57%
All CASH: 3 or 43%
_____________________________________________________________________
Enhanced by Zemanta