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Single Family Residential
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Actives
San Benito County-176 of which REO/Bank Owned-26 or 15%
Hollister-122 of which REO/Bank Owned-18 or 15%

Pendings
San Benito County-179 of which REO/Bank Owned-34 or 19%
Hollister-142 of which REO/Bank Owned-27 or 19%

Absorption Rate
San Benito County-.98 months supply of inventory or 29-Days
Hollister-.86 months supply of inventory or 26 days
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Solds for the week: 15
High: $420,000 Short Sale, All Cash
Low: $188,000 Traditional Sale-Flip, VA Loan
Full-Price/Over-Asking: 8 or 53%
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Sale Type
Traditional Sale: 7 or 47%
REO/Bank Owned: 5 or 33%
Short Sale: 3 or 20%
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Financing Type
New Conv. 1st: 9 or 60%
FHA Loan: 3 or 20%
ALL Cash: 1 or 6%
USDA Loan: 1 or 6%
VA Loan: 1 or 6%
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Well..our Absorption Rate is back under 1 month supply of inventory for the county!

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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-210 of which REO/Bank Owned-34 or 16%

Hollister-143 of which REO/Bank Owned-29 or 20%

Pendings

San Benito County-161 of which REO/Bank Owned-41 or 25%

Hollister-128 of which REO/Bank Owned-35 or 27%

Absorption Rate

San Benito County-1.30 months supply of inventory or 39-days

Hollister-1.11 months supply of inventory or 34-days

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

High: $620,000 Equity Sale, New Conv. 1st

Low:  $216,500 Short Sale, New Conv. 1st

Full-Price/Over-Asking: 7 or 47%

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Sale Type

Equity Sale: 6 or 40% (most were flippers)

Short Sale: 5 or 33%

REO/Bank Owned: 4 or 27%

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Financing Type

New Conv 1st: 11 or 73%

All Cash: 2 or 13%

FHA Loan: 1 or 7%

USDA Loan: 1 or 7%

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Single Family Residential

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Actives

San Benito County-218 of which REO/Bank Owned-41 or 18%

Hollister-150 of which REO/Bank Owned-35 or 23%

Pendings

San Benito County-145 of which REO/Bank Owned-31 or 21%

Hollister-119 of which REO/Bank Owned-27 or 23%

Absorption Rate

San Benito County-1.5 months supply of inventory or 45-days

Hollister-1.26 months supply of inventory or 38-days

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Solds for the week: 10

High: $515,000 Short Sale, VA Loan

Low:  $130,000 Short Sale, New Conv. 1st

Full-Price/Over-Asking: 4 or 40%

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Sale Type

Short Sale: 6 or 60%

REO/Bank Owned: 3 or 30%

Equity Sale: 1 or 10% (New Construction)

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Financing Type

New Conv. 1st: 5 or 50%

All CASH: 2 or 20%

FHA Loan: 1 or 10%

VA Loan: 1 or 10%

USDA Loan: 1 or 10%

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Our absorption rate continues a slowwwww march up.  Our absorption rate has tripled from one year ago. By the numbers it is a “Sellers Market” however due to the economy etc. buyer’s are not behaving as such.

Single Family Residential

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Actives:

San Benito County-215 of which REO/Bank Owned-32 or 15%

Hollister-142 of which REO/Bank Owned-29 or 20%

Pendings:

San Benito County-139 of which REO/Bank Owned-31 or 22%

Hollister-116 of which REO/Bank Owned-26 or 22%

Absorption Rate:

San Benito County-1.55 months supply of inventory or 46-days

Hollister-1.22 months supply of inventory or 37-days

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Solds: 17 (2-are late reportings or 12%)

High-$500,000 REO/Bank Owned All Cash

Low- $140,000 REO/Bank Owned All Cash

Full-Price/Over-Asking: 11 or 65%

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Sale Type

REO/Bank Owned: 8 or 47%

Short Sale: 6 or 36%

Equity Sale: 3 or 18% (1 investor flip)

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Financing Type

New Conv. 1st: 7 or 41%

FHA Loan: 6 or 35%

All Cash: 3 or 18%

USDA Loan: 1 or 6%

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Holy Moly our absorption rate continues it march upward. Since last spring our absorption rate has now tripled!! Still by the numbers a seller’s market however buyer’s are not behaving as such.

Single Family Residential

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Actives

San Benito County-201 of which REO/Bank Owned-31 or 15%

Hollister-132 of which REO/Bank Owned-28 or 21%

Pendings

San Benito County-158 of which REO/Bank Owned-35 or 22%

Hollister-134 of which REO/Bank Owned-29 or 22%

Absorption Rate

San Benito County-1.27 months supply of inventory or 38-days

Hollister-.99 months supply of inventory or 30-days

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Solds for the week: 16

High-$590,000 REO/Bank Owned, New Conv. 1st

Low- $195,000 REO/Bank Owned, All Cash

Full-Price/Over-Asking: 7 or 44%

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Sale Type

REO/Bank Owned-6 or 38%

Equity Sale-7 or 44%

Short Sale-3 or 19%

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Financing Type

New Conv 1st-8 or 50%

FHA Loan-4 or 25%

USDA Loan-2 or 12%

VA Loan-1 or 6%

All Cash-1 or 6%

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 Ho Ho Ho!

Single Family Residential

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Active:

San Benito County-201 of which REO/Bank Owned-32 or 16%

Hollister-133 of which REO/Bank Owned-29 or 22%

Pending:

San Benito County-172 of which REO/Bank Owned-33 or 19%

Hollister-138 of which REO/Bank Owned-25 or 18%

Absorption Rate:

San Benito County- 1.20 months supply of inventory or 36days

Hollister-.96 months supply of inventory or 29days

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Solds for the week: 12 (4 or 33% late reportings)

High- $545,000 REO/Bank Owned, VA Loan

Low-  $181,000 Equity Sale, FHA Loan

Full-Price/Over-Asking-3 or 25%

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Sale Type

REO/Bank Owned: 5 or 42%

Equity Sale: 5 or 42%

Short Sale: 2 17%

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Financing Type

New Conv 1st: 6 or 50%

FHA Loan: 5 or 42%

VA Loan: 1 or 8%

All CASH: 0

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Our market continues to show signs of slowing. Hard to say of it’s the holidays or the economy or a combination of both. The market is just not behaving as one would expect.

Single Family Residential

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Actives:

San Benito County-206 of which REO/Bank Owned-28 or 14%

Hollister-137 of which REO/Bank Owned-25 or 18%

Pendings:

San Benito County-178 of which REO/Bank Owned-37 or 21%

Hollister-144 of which REO/Bank Owned-27 or 19%

Absorption Rate:

San Benito County-1.16 months supply of inventory or 40-days

Hollister-.95 months supply of inventory or 29-days

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Sold’s for the week: 8

High-$600,000 Equity Sale, New Conv. 1st

Low- $195,000 Short Sale, All Cash

Full-Price/Over-Asking- 2 or 25%

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Sale Type

REO/Bank Owned-3 or 38%

Short Sale-3 or 38%

Equity Sale-2 or 25%

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Financing Type

New Conv. 1st-4 or 50%

FHA Loan-3 or 38%

All CASH-1 or 13%

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The market continues to slow. By the numbers….the market is not behaving as you would expect. The other day I showed a lovely foreclosure property, priced right, only on the market 10 days ~ when I called to check status with the listing agent I would have thought she would have had at least 2 or 3 offer’s on it ~ but no offer’s on the table. Interest rates continue to be incredible in the 4’s. I’m thinking the economy is much worse off than the government would like us to believe. The unemployment rate went up to 9.8% but that doesn’t include those that have given up looking and the “under-employed etc…” I’m thinking their cookin the numbers to keep the rate under 10%. Just look around…there are no indicators that things are improving. That being said….if you qualify to buy today….the interest rates are awesome and there’s a 58% discount built in to todays prices. O.K. that’s my soapbox.

Single Family Residential
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Active:
San Benito County-203 of which REO/Bank Owned-27 or 13%
Hollister-132 of which REO/Bank Owned-23 or 17%

Pendings:
San Benito County-179 of which REO/Bank Owned-38 or 21%
Hollister-149 of which REO/Bank Owned-29 or 19%

Aborption Rate:
San Benito County-1.13 months supply of inventory or 34-days
Hollister-.88 months supply of inventory or 26-days
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Solds: 11 (2 were late reportings or 18%)
High-$348,000 Short Sale, VA Loan
Low- $139,000 REO/Bank Owned, New Conv. 1st
Full-Price/Over-Asking: 3 or 27%
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Sale Type

REO/Bank Owned: 6 or 55%
Short Sale: 3 or 27%
Equity Sale: 2 or 18% (1 was investor flip)
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Financing Type

New Conv 1st- 5 or 45%
VA Loan- 2 or 18%
USDA Loan- 2 or 18%
FHA Loan- 1 or 9%
All CASH-1 or 9%

Single Family Residential

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Actives:

San Benito County-213 of which REO/Bank Owned-30 or 14%

Hollister-136 of which REO/Bank Owned-23 or 17%

Pendings:

San Benito County-176 of which REO/Bank Owned-40 or 23%

Hollister-151 of which REO/Bank Owned-34 or 23%

Absorption Rate:

San Benito County-1.21 months supply of inventory or 36-days

Hollister-.90 months supply of inventory or 27-days

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Solds for the week: 8 (4 of which are late reportings)

High: $485,000 Short Sale, New Conv 1st

Low:  $201,000 REO/Bank Owned, FHA Loan

Full-Price/Over-Asking: 7 or 88%

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Sale Type

Short Sale: 5 or 63%

REO/Bank Owned: 3 or 38%

Equity Sale: none

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Financing Type

FHA Loan: 4 or 50%

New Conv 1st: 2 or 25%

VA Loan: 1 or 13%

All Cash: 1 or 13%

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Our market is dramatically slow….the true number of closings for the week is really 4. Half of the reported solds are late reporting….that just makes me NUTS! One of them all the way back to 12/31/09…unbelievable!!! What is wrong with people..they are supposed to be professionals