Lori Uhl McClelland's Blog

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Single Family Residential
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Actives:
San Benito County-186 of which REO/Bank Owned-27 or 16%
Hollister-126 of which REO/Bank Owned-20 or 16%

Pendings:
San Benito County-161 of which REO/Bank Owned-38 or 24%
Hollister-130 of which REO/Bank Owned-30 or 23%

Absorption Rate:
San Benito County-1.16 months supply of inventory or 35-days
Hollister-.97 months supply of inventory or 29-days
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Solds for the week: 12
High: $530,000 Short Sale, New Conv. 1st
Low:  $165,000 REO/Bank Owned, FHA Loan
Full-Price/Over-Asking: 7 or 58%
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Sale Type
REO/Bank Owned: 7 or 58%
Short Sale: 3 or 25%
Traditional Sale: 2 or 17%
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Financing Type
New Conv 1st: 5 or 42%
FHA Loan: 5 or 42%
All CASH: 2 or 17%
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Single Family Residential
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Actives
San Benito County-191 of which REO/Bank Owned-31 or 16%
Hollister-129 of which REO/Bank Owned-23 or 18%

Pendings
San Benito County-157 of which REO/Bank Owned-34 or 22%
Hollister-129 of which REO/Bank Owned-27 or 21%

Absorption Rate
San Benito County-1.22 months supply of inventory or 36-days
Hollister-1 month supply of inventory or 30-days
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Solds for the week: 12
High: $499,000 REO/Bank Owned, New Conv. 1st
Low:   $92,000 REO/Bank Owned, All Cash
Full-Price/Over-Asking: 6 or 50%
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Sale Type
Traditional Sale-5 or 42%
REO/Bank Owned-5 or 42%
Short Sale-2 or 17%
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Financing Type
New Conv. 1st-4 or 33%
FHA Loan-4 or 33%
All CASH-4 or 33%
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There you have it! Had my first eviction this week. Do I have a tale to tell about that!!!

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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-192 of which REO/Bank Owned-26 or 13%

Hollister-138 of which REO/Bank Owned-21 or 15%

Pendings:

San Benito County-164 of which REO/Bank Owned-41 or 25%

Hollister-130 of which REO/Bank Owned-33 or 25%

Absorption Rate:

San Benito County-1.17 months supply of inventory or 35-days

Hollister-1.06 months supply of inventory or 32-days

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Solds for the week: 19 (3-late reportings)

High: $915,000 Traditional Sale, New Conv 1st

Low:  $190,000 REO/Bank Owned, USDA Loan

Full-Price/Over-Asking: 7 or 37%

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Sale Type:

Short Sale-10 or 53%

Traditional Sale-5 or 26%

REO/Bank Owned-4 or 21%

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Financing Type:

New Conv 1st-9 or 47%

FHA Loan-6 or 32%

VA Loan-10%

All CASH-1 or 5%

USDA Loan-1 or 5%

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Wow! Big week for getting those Short Sales closed!

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Single Family Residential

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Actives

San Benito County-186 of which REO/Bank Owned-28 or 15%

Hollister-132 of which REO/Bank Owned-22 or 17%

Pendings

San Benito County-179 of which REO/Bank Owned-40 or 22%

Hollister-143 of which REO/Bank Owned-34 or 24%

Absorption Rate

San Benito County-1.04 months supply of inventory or 31-days

Hollister-.92 months supply of inventory or 28-days

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Sold’s for the week: 12

High:$690,000 Traditional Sale, New Conv 1st

Low: $190,000 REO/Bank Owned, FHA Loan

Full-Price/Over-Asking:5 or 42%

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Sale Type

Tradtional Sale: 6 or 50%

REO/Bank Owned: 3 or 25%

Short Sale: 3 or 25%

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Financing Type

New Conv 1st: 5 or 42%

FHA Loan: 5 or 42%

VA Loan: 1 or 8%

USDA Loan: 1 or 8%

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Well….I can say two of the Sold’s this week closed early because Golden Eagle Mortgage did the buyers loan!!! Thanks Gina and Pauline!!!

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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!!!

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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: 124 of which REO/Bank Owned-22 or 18%

Pendings:

San Benito County: 176 if which REO/Bank Owned-49 or 28%

Hollister: 144 of which REO/Bank Owned-44 or 31%

Absorption Rate:

San Benito County:1.04 months supply of inventory or 31-days

Hollister: .86 months supply of inventory or 26-days

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Solds for the week: 10 (2 late reportings)

High: $479,000  REO/Bank Owned, All CASH

Low:  $185,000  Equity Sale, New Conv. 1st

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

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Sale Type

Equity Sale: 4 or 40% (New Const/Flipper-2)

REO/Bank Owned: 3 or 30%

Short Sale: 3 or 30%

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Financing Type

New Conv. 1st: 5 or 50%

FHA Loan: 4 or 40%

All CASH: 1 or 10%

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 Last week I was asked what my office market share was…my response…”Sorry, not something that matters to me” If my clients needs are being met…market share is not something I’m interested in…just for yuks though…my office market share for the Sold’s this week is 20%. I’ll take that to the bank any day of the week!!!