Lori Uhl McClelland's Blog

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Actives
San Benito County-175 of which REO/Bank Owned-24 or 14%
Hollister-122 of which REO/Bank Owned-16 or 13%

Pendings
San Benito County-190 of which REO/Bank Owned-33 or 17%
Hollister-150 of which REO/Bank Owned-27 or 13%

Absorption Rate
San Benito County-.92 months supply of inventory or 27-days
Hollister-.81 months supply of inventory or 24-days
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Solds for the week: 8
High:$465,000 Short Sale, New First
Low: $154,650 Short Sale, USDA Loan
Full-Price/Over-Asking: 4 or 50%
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Sale Type
Short Sale: 5 or 62.5%
Traditional Sale: 2 or 25%
REO/Bank Owned: 1 or 12.5%
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Financing Type
New Conv. 1st: 4 or 50%
All CASH: 2 or 25%
FHA Loan: 1 or 12.5%
USDA Loan: 1 or 12.5%
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Single Family Residential
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Actives
San Benito County-201 of which REO/Bank Owned-26 or 13%
Hollister-143 of which REO/Bank Owned-18 or 13%

Pendings
San Benito County-155 or which REO/Bank Owned-33 or 21%
Hollister-122 of which REO/Bank Owned-27 or 22%

Absorption Rate
San Bentito County-1.3 months supply of inventory or 39-days
Hollister-1.17 months supply of inventory or 35-days
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Solds for the week: 9
High: $319,000 Investor Flip, USDA Loan
Low:  $200,000 Short Sale, FHA Loan
Full-Price/Over-Asking: 4 or 44%
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Sale Type
REO/Bank Owned-4 or 44%
Traditional Sale-3 or 33%
Short Sale-2 or 22%
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Financing Type
FHA Loan-4 or 44%
USDA Loan-2 or 22%
All CASH-2 or 22%
New Conv 1st-1 or 11%
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I’m BACK!!!

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Single Family Residential
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Actives:
San Benito County-184 of which REO/Bank Owned-26 or 14%
Hollister-125 of which REO/Bank Owned-20 or 16%

Pendings:
San Benito County-162 of which REO/Bank Owned-38 or 23%
Hollister-138 of which REO/Bank Owned-32 or 23%

Absorption Rate:
San Benito County-1.13 months supply of inventory or 34-days
Hollister-.91 months supply of inventory or 27-days
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Solds for the week: 15
High: $629,000 Regular Sale, New Conv. 1st
Low:  $180,000 Short Sale, All Cash
Full-Price/Over-Asking:8 or 53%
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Sale Type:
Short Sale-8 or 53%
REO/Bank Owned-4 or 27%
Regular Sale-3 or 20%
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Financing Type:
New Conv. 1st-7 or 47%
FHA Loan-4 or 27%
All Cash-2 or 13%
VA Loan-1 or 6.5%
USDA Loan-1 or 6.5%
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Single Family Residential
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Actives
San Benito County-181 of which REO/Bank Owned-29 or 16%
Hollister-128 of which REO/Bank Owned-23 or 18%

Pendings
San Benito County-180 of which REO/Bank Owned-36 or 20%
Hollister-141 of which REO/Bank Owned-30 or 21%

Absorption Rate
San Benito County-1.0 months supply of inventory or 30-days
Hollister-.90 months supply of inventory or 27-days
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Solds for the week: 17 (5 where new construction)
High: $710,000 Traditional Sale, New Conv 1st
Low: $180,000 Short Sale, All CASH
Full-Price/Over-Asking: 7 or 41%
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Sale Type
Traditional Sale: 6 or 35% (5 new construction)
Short Sale: 6 or 35%
REO/Bank Owned: 5 or 29%
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Financing Type
FHA Loan: 8 or 47%
All CASH: 5 or 29%
New Conv 1st: 4 or 24%
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Single Family Residential

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Actives:

San Benito County-176 of which REO/Bank Owned-25 or 14%

Hollister-125 of which REO/Bank Owned-25 or 20%

Pendings:

San Benito County-183 of which REO/Bank Owned-38 or 21%

Hollister-143 of which REO/Bank Owned-33 or 23%

Absorption Rate:

San Benito County-.96 months supply of inventory or 29-days

Hollister-.87 months supply of inventory or 26-days

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Solds for the week: 14 (3 late reportings or 21%)

High: $435,000 Short Sale, All CASH

Low:  $160,000 Traditional Sale, All CASH

Full-Price/Over-Asking: 9 or 64%

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Sale Type

REO/Bank Owned: 8 or 57%

Short Sale: 4 or 28%

Traditional Sale: 2 or 14%

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Financing Type

FHA Loan: 5 or 36%

New Conv 1st: 4 or 28%

USDA Loan: 3 or 21%

All CASH: 2 or 14%

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Single Family Residential

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Actives

San Benito County-177 of which REO/Bank Owned-26 or 15%

Hollister-127 of which REO/Bank Owned-22 or 17%

Pendings

San Benito County-187 of which REO/Bank Owned-41 or 22%

Hollister-145 of which REO/Bank Owned-36 or 25%

Absorption Rate

San Benito County-.95 months supply of inventory or 28-days

Hollister-.88 months supply of inventory or 26-days

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Solds for the week: 9

High: $665,000 Equity Sale, New Conv 1st

Low:  $145,000 REO/Bank Owned, All Cash

Full-Price/Over-Asking: 5 or 56%

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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

All Cash: 3 or 33%

New Conv 1st: 2 or 22%

FHA Loan: 2 or 22%

VA Loan: 1 or 11%

USDA Loan: 1 or 11%

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Single Family Residential

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Actives:

San Benito County-176 of which REO/Bank Owned-25 or 14%

Hollister-123 of which REO/Bank Owned-22 or 18%

Pendings:

San Benito County-189 of which REO/Bank Owned-44 or 23%

Absorption Rate:

San Benito County-.93 months supply of inventory or 28-days

Hollister-.82 months supply of inventory or 25-days

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Solds for the week: 6

High: $484,000 REO/Bank Owned, All Cash

Low:  $188,000 REO/Bank Owned, New Conv 1st

Full-Price/Over-Asking: 3 or 50%

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Sale Type

REO/Bank Owned: 3 or 50%

Short Sale: 2 or 33%

Equity Sale: 1 or 17%

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Financing Type

FHA Loan: 2 or 33%

New Conv 1st: 1 or 17%

USDA Loan: 1 or 17%

All CASH: 1 or 17%

Seller Carry Back: 1 or 17%

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There’s a new lender in town this week ~~~ the Seller Carry Back ~~~ what you won’t hear anyone talk about in this market is that 30% of all U.S. homes have no mortgage against them. For them … the Seller Carry Back is a lending option…you become the bank!

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Single Family Residential

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Actives

San Benito County: 170 of which REO/Bank Owned-27 or 16%

Hollister: 113 of which REO/Bank Owned-23 or 20%

Pendings

San Benito County: 184 of which REO/Bank Owned-41 or 22%

Hollister: 147 of which REO/Bank Owned-35 or 24%

Absorption Rate

San Benito County: .92 months supply of inventory or 28-days

Hollister: .77 months supply of inventory or 23-days

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Solds for the week: 18 (4-late reportings or 22%)

High: $500,000 Short Sale, New Conv 1st

Low:  $170,000 REO/Bank Owned, USDA Loan

Full-Price/Over-Asking: 8 or 44%

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Sale Type

REO/Bank Owned: 10 or 55%

Short Sale: 6 or 33%

Equity Sale: 2 or 11%

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Financing Type

New Conv. 1st: 6 or 33%

FHA Loan: 5 or 28%

All CASH: 4 or 22%

USDA Loan: 2 or 11%

VA Loan: 1 or 5%

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Our Absorption Rate appears to be tightening up a bit! I’m seeing the banks move more on foreclosing the first sale date especially if the original NOD was filed after January 1 of this year…

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Single Family Residential

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Actives

San Benito County-171 of which REO/Bank Owned-24 or 14%

Hollister-111 of which REO/Bank Owned-20 or 18%

Pendings

San Benito County-187 of which REO/Bank Owned-45 or 24%

Hollister-154 of which REO/Bank Owned-39 or 25%

Absorption Rate

San Benito County-.91 months supply of inventory or 27-days

Hollister-.72 months supply of inventory or 22-days

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Solds for the week: 15 (3 late reportings or 20%)

High: $535,000 Short Sale, New Conv. 1st

Low:  $141,000 REO/Bank Owned, All Cash

Full-Price/Over-Asking: 4 or 27%

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Sale Type

REO/Bank Owned: 10 or 66%

Short Sale: 4 or 27%

Equity Sale: 1 or 7%

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Financing Type

FHA Loan: 8 or 53%

New Conv. 1st: 5 or 33%

All Cash: 2 or 13%

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 Absorption Rate is back under a one month supply of inventory….Things that make ya go hummmmmm

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Single Family Residential

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Actives

San Benito County-184 of which REO/Bank Owned-27 or 15%

Hollister-121 of which REO/Bank Owned-22 or 18%

Pendings

San Benito County-180 of which REO/Bank Owned-47 or 26%

Hollister-149 of which REO/Bank Owned-43 or 29%

Absorption Rate

San Benito County- 1.02 months supply of inventory or 31days

Hollister-.81 months supply of inventory or 24days

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Solds for the week: 8

High-$680,000 New Conv 1st, Equity Sale

Low- $199,000 VA Loan, Short Sale (Go…Tammy)

Full-Price/Over-Asking: 3 or 38%

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Sale Type

Equity Sale: 3 or 37.5%

Short Sale: 3 or 37.5%

REO/Bank Owned: 2 or 25%

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Financing Type

New Conv 1st: 3 or 37.5%

FHA Loan: 2 or 25%

All CASH: 1 or 12.5%

VA Loan: 1 or 12.5%

Seller Carry Back: 1 or 12.5%

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Wow! There’s a new lender in town….A Seller Carry Back!

Did you know that 30% of all homes in America HAVE NO MORTGAGE AGAINST THEM! They are owned free and clear!!!