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
Single Family Residential
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Actives:
San Benito County-208 of which REO/Bank Owned-25 or 12%
Hollister-134 of which REO/Bank Owned-21 or 16%
Pendings:
San Benito County-175 of which REO/Bank Owned-41 or 23%
Hollister-149 of which REO/Bank Owned-34 or 23%
Absorption Rate:
San Benito County-1.19 months supply of inventory or 36-days
Hollister-.90 months supply of inventory or 27-days
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Solds for the week: 7 (1 was late reporting)
High-$770,000 REO/Bank Owned, New Conv. 1st
Low- $115,000 REO/Bank Owne, All CASH
Full-Price/Over-Asking- 6 or 86%
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Sale Type:
REO/Bank Owned-5 or 71%
Equity Sale-2 or 29%
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Financing Type:
New Conv. 1st-4 or 57%
FHA Loan-2 or 29%
All CASH-1 or 8%
Single Family Residential
____________________________________________________________
Actives:
San Benito County-208 of which REO/Bank Owned-26 or 13%
Hollister-134 of which REO/Bank Owned-22 or 17%
Pendings:
San Benito County-175 of which REO/Bank Owned-41 or 23%
Hollister-151 of which REO/Bank Owned-34 or 23%
Absorption Rate:
San Benito County-1.19 months supply of inventory or 36 days
Hollister-.89 months supply of inventory or 27 days
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Solds for the week:17 (5 or 30% are late reportings-irks me!!!!)
High: $629,900 REO/Bank Owned, FHA Loan
Low: $170,000 Short Sale, FHA Loan
Full-Price/Over-Asking: 6 or 35%
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Sale Type:
REO/Bank Owned-8 or 47%
Short Sale-5 or 30%
Equity Sale-4 or 24%
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Financing Type:
FHA Loan-8 or 47%
New Conv 1st-6 or 35%
All Cash-3 or 18%
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The market appears to continue to slow. Cash buyers continue to right low ball offers and asset managers on bank owned properties continue to counter them back at full-price. Not sure who is more out of touch. That’s my soapbox for this week!
Single Family Residential
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Actives:
San Benito County-204 of which 24-REO/Bank Owned or 12%
Hollister-136 of which 18-REO/Bank Owned or 13%
Pendings:
San Benito County-185 of which 45-REO/Bank Owned or 24%
Hollister-158 of which 39-REO/Bank Owned or 25%
Absorption Rate:
San Bentio County-1.1 months supply of inventory or 33-days
Hollister-.86 months supply of inventory or 26-days
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Solds for the week: 9
High-$520,000 Short Sale, All CASH
Low- $150,400 REO/Bank Owned, New Conv. 1st
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:
FHA Loan-4 or 44%
New Conv. 1st-3 or 33%
VA Loan-1 or 11%
All CASH-1 or 11%
Single Family Residential
____________________________________________________________
Actives:
San Benito County-209 of which REO/Bank Owned-25 or 12%
Hollister-144 of which REO/Bank Owned-20 or 14%
Pendings:
San Benito County-188 of which REO/Bank Owned-44 23%
Hollister-156 of which REO/Bank Owned-37 or 24%
Absorption Rate:
San Benito County-1.11 months supply of inventory or 33-days
Hollister-.92 months supply of inventory or 28-days
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Solds for the week: 14 (5 late reportings or 36%)
High: $611,250 Equity Sale, New Conv. 1st
Low: $145,000 REO/Bank Owned, All CASH
Full-Price/Over-Asking: 10 or 71%
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Sale Type:
REO/Bank Owned-8 or 57%
Short Sale-5 or 36%
Equity Sale-1 or 7%
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Financing Type:
FHA Loan-8 or 57%
New Conv. 1st-4 or 29%
All CASH-1 or 7%
USDA Loan-1 or 7%
****These numbers are for the last 14-days since I missed last Saturday due to travel****
Single Family Residential
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Actives:
San Benito County-207 of which REO/Bank Owned-29 or 14%
Hollister-148 of which REO/Bank Owned-24 or 16%
Pendings:
San Benito County-185 of which REO/Bank Owned-42 or 23%
Hollister-152 of which REO/Bank Owned-35 or 23%
Absorption Rate:
San Benito County-1.11 months supply of inventory or 33-days
Hollister-.97 months supply of inventory or 29-days
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Solds for the last 14 days: 13
High- $470,000, REO/Bank Owned, New Conv. 1st
Low- $155,000, REO/Bank Owned, FHA Loan
Full-Price/Over-Asking: 9 or 69%
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Sale Type:
Short Sale-7 or 54%
REO/Bank Owned-5 or 38%
Equity Sale-1 or 8%
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Financing Type:
New Conventional 1st-7 or 54%
FHA Loan-5 or 38%
All CASH-1 or 8%
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Pretty consistant numbers for the last 2 weeks however the Short Sales made a big showing coming through with 54% of the solds. Another note ~ our Aborption Rate has gone up by about 50% since summer came on….
Single Family Residential
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Actives:
San Benito County-200 of which REO/Bank Owned-34 or 17%
Hollister-141 of which REO/Bank Owned-28 or 20%
Pendings:
San Benito County-182 of which REO/Bank Owned-38 or 23%
Hollister-151 of which REO/Bank Owned-32 or 21%
Absorption Rate:
San Benito County-1.1 months supply of inventory or 33 days
Hollister-.93 months supply of inventory or 28 days
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Solds for the week: 18 (4-late reportings 22% … duh)
High: $430,000 Equity Sale, All Cash
Low: $98,0000 REO/Bank Owned, All Cash
Full-Price/Over-Asking: 9 or 50%
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Sale Type
REO/Bank Owned: 10 or 56%
Equity Sale: 5 or 28% (2 of those were investor flips)
Short Sale: 3 or 17%
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Financing Type
All Cash: 6 or 33%
FHA Loan: 5 or 28%
New Conv 1st: 3 or 17%
VA Loan: 3 or 17%
USDA Loan: 1 or 6%
Single Family Residential
____________________________________________________________
Actives:
San Benito County-202 of which REO/Bank Owned-36 or 18%
Hollister-145 of which REO/Bank Owned-30 or 21%
Pendings:
San Benito County-184 of which REO/Bank Owned-40 or 22%
Hollister-153 of which REO/Bank Owned-33 or 22%
Absorption Rate:
San Benito County-1.10 months supply of inventory or 33 days
Hollister- .95 months supply of inventory or 28.5 days
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Solds for the week: 10
High: $590,000 REO/Bank Owned, USDA Loan?
Low: $125,900 REO/Bank Owned, All CASH
Full-Price/Over-Asking: 2 or 20%
____________________________________________________________
Sale Type:
REO-6 or 60%
Short Sale-2 or 20%
Equity Sale-2 or 20% (1 was investor flip)
____________________________________________________________
Financing Type:
All CASH-4 or 40%
New Conv. 1st-2 or 20%
FHA Loan-2 or 20%
USDA Loan-2 or 20%
Single Family Residential
____________________________________________________________
Actives:
San Benito County-203 of which REO/Bank Owned-35 or 17%
Hollister-144 of which REO/Bank Owned-29 or 20%
Pendings:
San Benito County-185 of which REO/Bank Owned-42 or 23%
Hollister-154 of which REO/Bank Owned-35 or 23%
Absorption Rate:
San Benito County-1.10 months supply of inventory or 33 days
Hollister-.94 months supply of inventory or 28 days
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Solds for the week: 14 (5! were late reportings)
High: $775,000 Equity Sale, New Conv. 1st
Low: $180,000 Short Sale, FHA Loan
Full-Price/Over-Asking: 6 or 43%
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Sale Type
Equity Sale: 7 or 50%
Short Sale: 4 or 29%
REO/Bank Owned: 3 or 21%
____________________________________________________________
Financing Type
New Conv. 1st: 6 or 43%
FHA Loan: 6 or 43%
VA Loan: 1 or 7%
All CASH: 1 or 7%
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9 Properties actually closed this week. 5 of the 14 reported solds are late reportings. Are you kidding me! 36%.
What is wrong with people? One of the solds is all the way back to July!
Single Family Residential
____________________________________________________________
Actives:
San Benito County-199 of which REO/Bank Owned-38 or 19%
Hollister-141 of which REO/Bank Owned-30 or 21%
Pendings:
San Benito County-191 of which REO/Bank Owned-34 or 18%
Hollister-158 of which REO/Bank Owned-30 or 19%
Absorption Rate:
San Benito County-1.04 months supply of inventory
Hollister-.89 months supply of inventory or 27 days
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Solds for the week: 11 (4 late reportings-1 back to 8-5-10)
High: $690,000 REO, New Conv. 1st
Low: $156,000 REO, All CASH
Full-Price/Over-Asking: 5 or 45%
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Sale Type
REO/Bank Owned: 5 or 45%
Equity Sale: 4 or 36%
Short Sale: 2 or 18%
____________________________________________________________
Financing Type
New Conv 1st: 3 or 27%
All CASH: 3 or 27%
VA Loan: 3 or 27%
FHA Loan: 1 or 9%
USDA Loan: 1 or 9%
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A bit of an improved week on the closings however there were 4 late reportings ~ one as far back as 08-05-10. Come on people….what is wrong with agents not being able to reports sales in a timely fashion…….
REO/Bank Owned homes and Equity Sales continue to dominate. The Short Sales remain strangely absent. I’m still thinking the government HAFA program has only made more of a mess of the Short Sale market. This program is now 5 months old. I would think that if it was everything they had it cracked up to be…the short sales would be dominating the closed sales in the market and they are not!
