Lori Uhl McClelland's Blog

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-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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Active:

  San Benito County-134 of which REO/Bank Owned-25 or 19%

  Hollister-70 of which REO/Bank Owned-16 or 23%

Pending:

  San Benito County-215 of which REO/Bank Owned-50 or 23%

  Hollister-180 of which REO/Bank Owned-40 or 22%

Absorption Rate:

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

  Hollister-.39 month’s supply of inventory or 12days

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Solds for the week: 7 (a light week for closings)

  High-$524,700  REO/Bank Owned, New Conv. 1st

  Low-$210,000 Short Sale, FHA Loan

Full Price or Over Asking: 5 or 71%

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Sale Type

REO/Bank Owned-2 or 29%

Short Sale-4 or 57%

Equity Sale-1 or 14%

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Financing Type

New Conv. 1st-4 or 57%

FHA Loan-3 or 43%

All Cash-none this week

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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!

Single Family Residential

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Active:

  San Benito County-147 of which REO/Bank Owned-24 or 16%

  Hollister-84 of which REO/Bank Owned-16 or 19%

Pending:

  San Benito County-209 of which REO/Bank Owned-46 or 22%

  Hollister-171 of which REO/Bank Owned-38 or 22%

Absorption Rate:

  San Benito County-.70 months supply of inventory or 21 days

  Hollister-.49 months supply of inventory or 15 days

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Solds for the week: 17

  High-$705,000 – REO/Bank Owned – New Conv. 1st

  Low- $122,000 – REO/Bank Owned – All Cash

  Full-Price or Over- 11 or 65%

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Sale Type:

  REO/Bank Owned-12 or 70%

  Short Sale-4 or 24%

  Equity Sale-1 or 6%

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Financing Type:

  New Conv. 1st-8 or 47%

  FHA Loan-6 or 35%

  All Cash-3 or 18%

Single Family Residential

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Actives:

  San Benito County-133 of which REO/Bank Owned-19 or 14%

  Hollister-70 of which REO/Bank Owned-12 or 17%

Pendings:

  San Benito County-219 of which REO/Bank Owned-53 or 24%

  Hollister-180 of which REO/Bank Owned-42 or 23%

Absorption Rate:

  San Benito County-.61 months supply of inventory or 18 days

  Hollister-.39 months supply of inventory or 12 days

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Solds for the week: 10

  High-$641,500 REO/Bank Owned, New Conv. 1st

  Low- $135,000 REO/Bank Owned, All Cash

Full-Price or Over-Asking-7 or 70%

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Sale Type:

  REO/Bank Owned-5 or 50%

  Short Sale-3 or 30%

  Equity Sale-2 or 20%

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Financing Type:

  New Conv. 1st-5 or 50%

  FHA Loan-2 or 20%

  VA Loan-1 or 10%

  All Cash-2 or 20%

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Single Family Residential

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Actives:

  San Benito County-133 of which REO/Bank Owned-24 or 39%

  Hollister-67 of which REO/Bank Owned-15 or 22%

Pendings:

  San Benito County-213 of which REO/Bank Owned-48 or 23%

  Hollister-174 of which REO/Bank Owned-37 or 21%

Absorption Rate:

  San Benito County-.62 months supply of inventory or 19 days

  Hollister-.39 months supply of inventory or 12 days

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Sale Type:

  REO-12 or 46%

  Short Sale-8 or 31%

  Equity Sale-6 or 23%

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Financing Type:

  New Conventional 1st-17 or 65%

  FHA Loan-9 or 35%

  All Cash-0

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Wow! A bunch of closings this week.

Most likely because people were trying to cash in on the first time homebuyer tax credit which was set to expire at the end of November.

Single Family Residential

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Actives:

  San Benito County-134 of which REO/Bank Owned-22 or 16%

  Hollister-68 of which REO/Bank Owned-15 or 22%

Pendings:

  San Benito County-234 of which REO/Bank Owned-52 or 22%

  Hollister-192 of which REO/Bank Owned-41 or 21%

Absorption Rate:

  San Benito County-0.57 month’s supply or 17 days supply

  Hollister-0.35 month’s supply or 10.5 days supply

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Sold’s for the week: 8

High: $495,000 Short Sale, FHA Loan

Low: $130,000 REO/Bank Owned, FHA Loan

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

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Sale Type

REO/Bank Owned: 3 or 38%

Short Sale: 4 or 50%

Equity Sale: 1 or 13%

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Financing Type

New Conv. 1st: 0

FHA Loan: 6 or 75%

All Cash: 2 or 25%

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A light week for closings due to the holiday.

Seems just about everyone is checked out for the most part. I put a REO/Bank Owned listing back on the market after the appraiser blew up the deal by triggering excessive lender required repairs. The property is the second least expensive on the market and I’ve only gotten about 5 calls so far.

http://online.wsj.com/article/SB125903489722661849.html?mod=WSJ_hpp_MIDDLENexttoWhatsNewsSecond

Interesting article in the WSJ regarding homeowners and their equity.

Don’t forget 30% of all homes have no mortgage against them.