Hollister, San Benito County Real Estate Market Update for September 19, 2015

Weekly Market Update for 09-19-15

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

Single Family Residential

_________________________________
Active
San Benito County-98 of which REO/Bank Owned-3 or 3%, Short Sales-3 or 3%
Hollister-77 of which REO/Bank Owned-3 or 4%, Short Sales-2 or 3%
Pending
San Benito County-73 of which REO/Bank Owned-1 or 1%, Short Sales-4 or 5%
Hollister-62 of which REO/Bank Owned-0, Short Sales-3 or 5%
Absorption Rate
San Benito County-1.34 months supply of inventory or 40 days
Hollister-1.24 months supply of inventory or 37 days
_________________________________
Solds for the Week: 7
High: $809,000 New Conv 1st, Regular Sale
Low: $320,000 FHA Loan, REO/Bank Owned
Full-Price/Over-Asking: 3 or 42%
Average DOM: 53-days
Average Square Footage: 1894sf
Average Price/Square Foot: $308.23/sf
Average Sale Price: $560,200
_________________________________
Sale Type
Regular Sale: 6 or 86%
REO/Bank Owned: 1 or 14%
Short Sales: None
_________________________________
Financing Type
New Conv 1st: 4 or 57%
FHA Loan: 2 or 29%
VA Loan: 1 or 14%
All CASH: None
_________________________________

Hollister, San Benito County Real Estate Market Update for August 15, 2015

Solds for the Week of 08-15-15

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

 

Single Family Residential

_____________________________
Actives
San Benito County-98 of which REO/Bank Owned-2 or 2%, Short Sales-2 or 2%
Hollister-78 of which REO/Bank Owned-2 or 3%, Short Sales-2 or 3%
Pendings
San Benito County-78 of which REO/Bank Owned-3 or 4%, Short Sales-9 or 12%
Hollister-65 of which REO/Bank Owned-2 or 3%, Short Sales-6 or 9%
Absorption Rate
San Benito County-1.27 months supply of inventory or 38-days
Hollister-1.2 months supply of inventory or 36-days
_____________________________
Solds for the Week: 3
High: $480,000 Regular Sale, New Conv 1st
Low:  $372,645 REO/Bank Owned, New Conv 1st
Full-Price/Over-Asking: 3 or 100%
Average DOM: 15-days
Average Square Footage: 1631-sf
Average Price/Square Foot: 268.09/sf
Average Sale Price: $431,715.00
_____________________________
Sale Type
Regular Sale: 2 or 66.6%
REO/Bank Owned: 1 or 33.3%
Short Sales: None
_____________________________
Financing Type
New Conv 1st: 3 or 100%
_____________________________
Feels a little like the summer dull drums…..

Hollister, San Benito County Real Estate Market Update for July 4th, 2015

Solds for the Week of 07-04-15

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

 

Single Family Residential

___________________________
Actives
San Benito County-69 of which REO/Bank Owned-1 or 1.5%, Short Sales-1 or 1.5%
Hollister-56 of which REO/Bank Owned-1 or 2%, Short Sales-1 or 2%
Pendings
San Benito County-86 of which REO/Bank Owned-6 or 7%, Short Sales-10 or 12%
Hollister-70 of which REO/Bank Owned-4 or 6%, Short Sales-8 or 11%
Absorption Rate
San Benito County-.80 months supply of inventory or 24-days
Hollister-.80 months supply of inventory or 24-days
___________________________
Solds for the Week: 12
High: $1,500,000 Regular Sale, New Conv 1st
Low: $369,184 REO/Bank Owned, New Conv 1st
Full-Price/Over-Asking: 6 or 50%
Average DOM: 53-days
Average Square Footage: 2501sf
Average Price/Square Foot: $256.41/sf
Average Sale Price: $634,390
___________________________
Sale Type
Regular Sale: 11 or 92%
REO/Bank Owned: 1 or 8%
Short Sales: None
__________________________
Financing Type
New Conv 1st: 7 or 58%
FHA Loan: 3 or 25%
All CASH: 2 or 17%
__________________________

Hollister, San Benito County Real Estate Market Update for September 13, 2014

Solds for the Week of 09-13-14

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

 

Single Family Residential

________________________________
Actives
San Benito County-114 of which REO/Bank Owned-1 or 1%, Short Sales-10 or 9%
Hollister-51 of which REO/Bank Owned-1 or 2%, Short Sales-7 or 14%
Pendings
San Benito County-98 of which REO/Bank Owned-2 or 2%, Short Sales-18 or 18%
Hollister-80 of which REO/Bank Owned-2 or 3%, Short Sales-16 or 20%
Absorption Rate
San Benito County-1.18 months supply of inventory or 36-days
Hollister-.64 months supply of inventory or 19-days
________________________________
Solds for the Week: 2
High: $535,000 New Conv. 1st, Regular Sale
Low:  $424,000 FHA Loan, Regular Sale
Full-Price/Over-Asking: 1 or 50%
Average DOM: 9-days
Average Square Footage: 2155sf
Average Price/Square Foot: $226.54/sf
Average Sale Price: $479,500
________________________________
Sale Type
Regular Sale: 2 or 100%
REO/Bank Owned: None
Short Sales: None
________________________________
Financing Type
New Conv 1st: 1 or 50%
FHA Loan: 1 or 50%
All CASH: None
________________________________

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
_____________________________
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 Real Estate Market Update for November 2, 2013

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

Solds for the Week of 11-02-13

 

Single Family Residential

________________________________________________
Actives
San Benito County-82 of which REO/Bank Owned-1 or 1%, Short Sales-5 or 6%
Hollister-46 of which REO/Bank Owned-1 or 2%, Short Sales-3 or 7%
Pendings
San Benito County-88 of which REO/Bank Owned-3 or 3%, Short Sales-27 or 31%
Hollister-68 of which REO/Bank Owned-2 or 3%, Short Sales-23 or 34%
Absorption Rate
San Benito County-.93 months supply of inventory or 28-days
Hollister-.68 months supply of inventory or 20-days
________________________________________________
Solds for the Week: 8
High: $569,000 New Conv 1st, Regular Sale
Low:  $236,000 New Conv 1st, Regular Sale
Full-Price/Over-Asking: 3 or 38%
Average DOM: 89-days
Average Square Footage: 1914sf
Average Price/Square Foot: $217/sf
Average Sale Price: $388,750.00
________________________________________________
Sale Type
Traditional Sale: 7 or 88%
REO/Bank Owned: 1 or 12%
Short Sale: None
________________________________________________
Financing Type
New Conv 1st: 6 or 75%
FHA Loan: 2 or 25%
All Cash: None

________________________________________________

Our absoprtion rate is back under a one month supply of inventory……
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Hollister, San Benito County Real Estate Market Update for September 28, 2013

Solds for the Week of 09-28-13

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

 

Single Family Residential

_____________________________________________
Actives
San Benito County-97 of which REO/Bank Owned-1 or 1%, Short Sales-5 or 5%
Hollister-60 of which REO/Bank Owned-1 or 2%, Short Sales-4 or 7%
Pendings
San Benito County-88 of which REO/Bank Owned-4 or 5%, Short Sales-28 or 32%
Hollister-69 of which REO/Bank Owned-2 or 3%, Short Sales-24 or 35%
Absorption Rate
San Benito County- 1.10 months supply of inventory or 33-days
Hollister- .87 months supply of inventory or 26-days
____________________________________________
Solds for the Week: 9
High: $689,000 Regular Sale, All Cash
Low:  $270,000 Regular Sale, New Conv 1st
Full-Price/Over-Asking: 7 or 78%
Average Square Footage: 1907sf
Average Price/Square Foot: $239/sf
Average Sale Price: $451,556.00
___________________________________________
Sale Type
Regular Sale: 8 or 89%
REO/Bank Owned: 1 or 11%
Short Sales: None
___________________________________________
Financing Type
New Conv 1st: 4 or 44%
FHA Loan: 2 or 22%
All Cash: 2 or 22%
VA Loan: 1 or 11%
___________________________________________
Steady as she goes…..
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Hollister, San Benito County Real Estate Market Update for May 18, 2013

Solds for the Week of 05-18-13

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

 

Single Family Residential
__________________________________________________________________
Actives
San Benito County-65 of which REO/Bank Owned-2 or 3%, Short Sales-2 or 3%
Hollister-38 of which REO/Bank Owned-1 or 3%, Short Sales-2 or 5%
Pendings
San Benito County-133 of which REO/Bank Owned-6 or 5%, Short Sales-65 or 49%
Hollister-103 of which REO/Bank Owned-3 or 3%, Short Sales-55 or 53%
Absorption Rate
San Benito County-.49 months supply of inventory or 15-days
Hollister-.37 month supply of inventory or 11-days
__________________________________________________________________
Solds for the Week: 11
High: $459,000 New Conv 1st, Regular Sale
Low:  $290,000 New Conv 1st, Regular Sale
Full-Price/Over-Asking: 10 or 90%
Average List Price: $359,741.00
Average Sale Price: $371,748.00
Average Square Footage: 2086sf
Average Price/Sq Ft: $179.94
__________________________________________________________________
Sale Type
Regular Sale: 8 or 73%
Short Sale: 2 or 18%
REO/Bank Owned: 1 or 9%
__________________________________________________________________
Financing Type
New Conv 1st: 5 or 45%
FHA Loan: 3 or 27%
All Cash: 2 or 18%
VA Loan: 9%
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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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