Single Family Residential
____________________________________________________________
Actives:
San Benito County-178 of which REO/Bank Owned-26 or 15%
Hollister-111 of which REO/Bank Owned-19 or 17%
Pending:
San Benito County-179 of which REO/Bank Owned-29 or 16%
Hollister-148 of which REO/Bank Owned-26 or 18%
Absorption Rate:
San Benito County-1 month supply of inventory
Hollister-.75 months supply of inventory or 23 days
____________________________________________________________
Solds for the week: 18 (couple of later reporting’s skew #’s)
High Sold: $700,000 Equity Sale, New Conv. 1st
Low Sold: $55,000 REO/Bank Owned, All Cash
Full-Price/Over-Asking: 7 or 39%
____________________________________________________________
Sale Type:
REO/Bank Owned-11 or 61%
Equity Sale-4 or 22%
Short Sale-3 or 17%
____________________________________________________________
Financing Type:
New Conv. 1st-7 or 39%
All Cash-5 or 28%
FHA Loan-4 or 22%
VA Loan-1 or 6%
USDA Loan-1 or 6%
____________________________________________________________
Wow! For some reason it feels like the market has fallen off a cliff…..Whatever cycle the market is in there is still a micro-cycle within and we are in what I call the dregs of summer! That being said…our absorption rate for the San Benito County has reached 1 month. We have not seen this number in probably 2 years. Interest Rates remain historically low i.e. around 4.5% but lending standards are tougher than we’ve ever seen. The economy seems worse than what we’re hearing in the news…..Our market values have come down about 58% from the peak so if you can make a purchase…it is an awesome time to buy!
Single Family Residential
___________________________________________________________
Actives:
San Benito County-173 of which REO/Bank Owned-29 or 17%
Hollister -106 of which REO/Bank Owned-24 or 23%
Pendings:
San Benito County-196 of which REO/Bank Owned-36 or 18%
Hollister-156 of which REO/Bank Owned-30 or 19%
Absorption Rate:
San Benito County-.88 months supply of inventory or 26-days
Hollister-.68 months supply of inventory or 14-days
____________________________________________________________
Solds for the weeks: 10
High-$357,950 Short Sale, FHA Loan
Low- $105,000 REO/Bank Owned, All Cash
Full-Price/Over-Asking-8 or 80%
____________________________________________________________
Sale Type:
REO/Bank Owned-6 or 60%
Short Sale-3 or 30%
Equity Sale-1 or 10%
____________________________________________________________
Financing Type:
FHA Loan-7 or 70%
All Cash-2 or 20%
New Conv. 1st-1 or 10%
Single Family Residential
____________________________________________________________
Actives:
San Benito County-176 of which REO/Bank Owned-28 or 16%
Hollister-106 of which REO/Bank Owned-25 or 24%
Pendings:
San Benito County-207 of which REO/Bank Owned-38 or 18%
Hollister-170 of which REO/Bank Owned-31 or 18%
Absorption Rate:
San Benito County-.85 months supply of inventory or 26-days
Hollister-.62 months supply of inventory or 19-days
____________________________________________________________
Solds for the week: 12
High-$445,000 Equity Sale, New Conv. 1st
Low- $157,000 REO/Bank Owned, New Conv. 1st
Full-Price/Over-Asking: 9 or 75%
____________________________________________________________
Sale Type
REO/Bank Owned: 5 or 42%
Equity Sale: 4 or 33% of those 3 were Flips or 25% of total
Short Sale: 3 or 25%
____________________________________________________________
Financing Type
New Conv 1st: 7 or 58%
FHA Loan: 5 or 42%
No CASH deals this week!
____________________________________________________________
Wow! 25% of the total Solds were Investor Flips! There’s a new seller in the neighborhood….better pay attention!
Single Family Residential
____________________________________________________________
Actives:
San Benito Couny-167 of which REO/Bank Owned-26 or 16%
Hollister-99 of which REO/Bank Owned-24 or 24%
Pendings:
San Benito County-206 of which REO/Bank Owned-38 or 18%
Hollister-170 of which REO/Bank Owned-32 or 19%
Absorption Rate:
San Benito County-.81 months supply of inventory or 24-days
Hollister-.58 months supply of inventory or 17-days
____________________________________________________________
Solds for the week: 9
High-$530,000 Equity Sale-All CASH
Low- $145,000 Equity Sale-Seller carried New 1st
Full-Price or Over-Asking-2 or 22%
____________________________________________________________
Sale Type:
Equity Sale-6 or 67%
Short Sale- 2 or 22%
REO/Bank Owned-1 or 11%
____________________________________________________________
Financing Type:
New Conv. 1st-3 or 33%
FHA Loan- 2 or 22%
All CASH- 3 or 22%
VA Loan- 1 or 11%
Seller Financing-1 or 11%
____________________________________________________________
Wow! Equity Sales still rule the day and a new one….Seller Financing!
Single Family Residential
____________________________________________________________
Active:
San Benito County-149 of which REO/Bank Owned-24 or 16%
Hollister-87 of which REO/Bank Owned-20 or 23%
Pending:
San Benito County-212 of which REO/Bank Owned-33 or 16%
Hollister-177 of which REO/Bank Owned-27 or 15%
Absorption Rate:
San Benito County-.70 months supply of inventory or 15/days
Hollister-.49 months supply of inventory or 15/days
____________________________________________________________
Solds for the week: 18 (few late reportings skew the total)
High-$459,000 Short Sale, All CASH
Low- $140,000 REO/Bank Owned, All CASH
Full-Price/Over-Asking-9 or 50%
____________________________________________________________
Sale Type
REO/Bank Owned:7 or 39%
Short Sale:7 or 39%
Equity Sale:4 or 22%
____________________________________________________________
Financing Type
FHA Loan:7 or 39%
New Conv 1st:6 or 33%
All CASH:4 or 22%
USDA Loan:1 or 7%
Single Family Residential
____________________________________________________________
Actives:
San Benito County-153 of which REO/Bank Owned-22 or 14%
Hollister-91 of which REO/Bank Owned-18 or 20%
Pendings:
San Benito County-224 of which REO/Bank Owned-37 or 17%
Hollister-185 of which REO/Bank Owned-30 or 16%
Absorption Rate:
San Benito County-.68 months supply of inventory or 14-Days
Hollister-.49 months supply of inventory or 15-Days
____________________________________________________________
Solds for the week: 18
High-$499,900 Equity Sale-New Construction, FHA Loan
Low-$205,000 Equity Sale, FHA Loan
Full-Price or Over-Asking: 11 or 61%
____________________________________________________________
Sale Type
Equity Sale-8 or 44% (4 New Construction-Anderson Homes)
REO/Bank Owned-7 or 39%
Short Sale-3 or 17%
____________________________________________________________
Financing Type
New Conventional 1st-9 or 50%
FHA Loan-7 or 39%
VA Loan-1 or 6%
All CASH-1 or 6%