Lori Uhl McClelland's Blog » VA loan

Hollister, San Benito County Real Estate Market Update for May 5, 2012

Lori McClelland — Sat, 05 May 2012 14:37:57 +0000

Solds_for_the_week_of_05-05-12[1]

Single Family Residential

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Actives:

San Benito County-78 of which REO/Bank Owned-9 or 11.5%, Short Sales-15 or 19%

Hollister-42 or which REO/Bank Owned-7 or 17%, Short Sales-14 or 33%

Pendings:

San Benito County-195 of which REO/Bank Owned-30 or 15%, Short Sales-121 or 62%

Hollister-161 of which REO/Bank Owned-21 or 13%, Short Sales-104 or 65%

Absorption Rate:

San Benito County-.4 months supply of inventory or 12-Days

Hollister-.26 months supply of inventory or 7.8-Days

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Solds for the Week: 17

High: $570,000 REO/Bank Owned, New Conv 1st

Low: $162,500, REO/Bank Owned, All CASH

Full-Price/Over-Asking: 9 or 53%

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Sale Type:

REO/Bank Owned-8 or 47%

Traditional Sale-6 or 35%

Short Sales-3 or 18

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Financing Type:

New Conv 1st-6 or 35%

FHA Loan-5 or 29%

USDA Loan-24%

VA Loan-1 or 6%

All CASH-1 or 6%

Hollister, San Benito County Real Estate Market Update for March 17, 2012

Lori McClelland — Sat, 17 Mar 2012 15:18:51 +0000

Single Family Residential

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Actives

San Benito County-106 of which REO/Bank Owned-19 or 18%, Short Sale-27 or 25%

Hollister-65 of which REO/Bank Owned-11 or 17%, Short Sale-26 or 40%

Pendings

San Benito County-185 of which REO/Bank Owed-26 or 14%, Short Sale-114 or 62%

Hollister-151 of which REO/Bank Owned-22 or 15%, Short Sale-92 or 61%

Absorption Rate

San Benito County-.57 month’s supply of inventory or 17-Days

Hollister-.43 month’s supply of inventory or 13-Days

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Solds for the Week: 11

High: $655,000 New Conv 1st, Traditional Sale

Low: $104,900 All CASH, REO/Bank Owned

Full-Price/Over-Asking: 4 or 36%

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Sale Type

Traditional Sale: 6 or 55%

REO/Bank Owned: 5 or 45%

Short Sale: 0

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Financing Type

New Conv. 1st: 4 or 36%

FHA Loan: 3 or 27%

All CASH: 2 or 18%

VA Loan: 1 or 9%

USDA Loan: 1 or 9%

Hollister, San Benito County Real Estate Market Update for March 03, 2012

Lori McClelland — Sat, 03 Mar 2012 15:04:09 +0000

Solds for the week 03-03-12

Single Family Residential

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Actives

San Benito County: 122 of which REO/Bank Owned-26 or 21%, Short Sales-31 or 25%

Hollister: 83 of which REO/Bank Owned-20 or 24%, Short Sales-27 or 32.5%

Pendings

San Benito County: 179 of which REO/Bank Owned-26 or 14.5%, Short Sales-112 or 62.5%

Hollister: 143 of which REO/Bank Owned-20 or 14%, Short Sales-91 or 64%

Absorption Rate

San Benito County: .68 months supply of inventory or 20-Days

Hollister: .58 months supply of inventory or 17-Days

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Solds for the week: 12

High: $435,000 Traditional Sale, FHA Loan

Low: $86,000, Short Sale, All CASH

Full-Price/Over-Asking: 6 or 50%

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Sale Type

Short Sales: 5 or 42%

Traditional Sales: 4 or 33%

REO/Bank Owned: 3 or 25%

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Financing Type

New Conventional 1st: 5 or 42%

FHA Loan: 4 or 33%

All CASH: 2 or 17%

VA Loan: 1 or 8%

Hollister, San Benito County Real Estate Market Update for January 28, 2012

Lori McClelland — Sat, 28 Jan 2012 14:20:19 +0000

Solds for the week 01-28-12

Single Family Residential

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Actives

San Benito County-112 of which REO/Bank Owned-15 or 13%, Short Sales-34 or 30%

Hollister-74 of which REO/Bank Owned-13 or 18%, Short Sales-27 or 36%

Pendings

San Benito County-184 of which REO/Bank Owned-26 or 14%, Short Sales-120 or 65%

Hollister-145 of which REO/Bank Owned-18 or 12%, Short Sales-98 or 68%

Absorption Rate

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

Hollister-.51 months supply of inventory or 15-days

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Solds for the week: 5

High: $650,000 Regular Sale, New Conv 1st

Low: $225,000 Short Sale, VA Loan

Full-Price/Over-Asking: 2 or 40%

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Sale Type

Short Sale: 3 or 60%

Traditional Sale: 2 or 40%

REO/Bank Owned: None

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Financing Type

New Conv 1st: 2 or 40%

All CASH: 2 or 40%

VA Loan: 1 or 20%

Hollister, San Benito County Real Estate Market Update for November 26, 2011

Lori McClelland — Sat, 26 Nov 2011 14:56:08 +0000

Solds for the week 11-26-11

Single Family Residential
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Actives:
San Benito County-136 of which REO/Bank Owned-22 or 16%, Short Sale-40 or 29%
Hollister-96 of which REO/Bank Owned-17 or 18%, Short Sale-36 or 38%

Pendings:
San Benito County-198 of which REO/Bank Owned-29 or 15%, Short Sale-136 or 69%
Hollister-160 of which REO/Bank Owned-26 or 16%, Short Sale-111 or 63%

Absorption Rate:
San Benito County-.69 months supply of inventory or 21 days
Hollister- .6 months supply of inventory or 18 Days
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Solds for the week: 8
High: $615,000, Short Sale, New Conv. 1st
Low: $165,000, Traditional Sale, New Conv 1st
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Sale Type:
Short Sale-4 or 50%
Traditonal Sale-4 or 50%
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Financing Type:
New Conv. 1st-6 or 75%
FHA Loan-1 or 12.5%
VA Loan-1 or 12.5%
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Hollister, San Benito County Real Estate Market Update for November 5, 2011

Lori McClelland — Sat, 05 Nov 2011 13:15:16 +0000

Single Family Residential

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Actives
San Benito County-162 of which REO/Bank Owned-27 or 17%
Hollister-111 of which REO/Bank Owned-23 or 21%

Pendings
San Benito County-189 of which REO/Bank Owned-24 or 13%
Hollister-148 of which REO/Bank Owned-18 or 12%

Absorption Rate
San Benito County-.86 months supply of inventory or 26-days
Hollister-.75 months supply of inventory or 23-days
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Solds for the week: 11
High: $470,000 Short Sale, VA Loan
Low: $160,000 REO/Bank Owned, All CASH
Full-Price/Over-Asking: 7 or 64%
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Sale Type
Short Sale: 7 or 64%
REO/Bank Owned: 3 or 27%
Traditional Sale: 1 or 9%
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Financing Type
FHA Loan: 5 or 46%
New Conv 1st: 4 or 36%
VA Loan: 1 or 9%
All CASH: 1 or 9%
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Hollister, San Benito County Real Estate Market Update for October 1, 2011

Lori McClelland — Sat, 01 Oct 2011 14:13:42 +0000

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Single Family Residential
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Actives
San Benito Co-155 of which REO/Bank Owned-21 or 14%
Hollister-110 of which REO/Bank Owned-16 or 15%

Pendings
San Benito Co-193 of which REO/Bank Owned-34 or 18%
Hollister-149 of which REO/Bank Owned-24 or 16%

Absorption Rate
San Benito Co-.80 months supply of inventory or 24-days
Hollister-.74 months supply of inventory or 22-days
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Solds for the week: 17
High: $545,000 Short Sale, New Conv 1st
Low: $ 81,871 REO/Bank Owned, All CASH
Full-Price/Over-Asking: 12 or 70%
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Sale Type
Short Sale: 11 or 65%
REO/Bank Owned: 4 or 24%
Traditional Sale: 2 or 12%
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Financing Type
FHA Loan: 8 or 47%
New Conv 1st: 7 or 41%
VA Loan: 1 or 6%
All CASH: 1 or 6%
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Hollister, San Benito County Real Estate Market Update for August 13th, 2011

Lori McClelland — Sat, 13 Aug 2011 13:52:31 +0000

Image via Wikipedia

Single Family
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Active
San Benito County-171 of which REO/Bank Owned-24 or 14%
Hollister-121 of which REO/Bank Owned-17 or 14%

Pending
San Benito County-180 of which REO/Bank Owned-31 or 17%
Hollister-140 of which REO/Bank Owned-24 or 17%

Absorption Rate
San Benito County-.95 months supply of inventory or 29 days
Hollister-.86 months supply of inventory or 26 days
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Solds for the week: 13
High: $435,000, Flip, All Cash
Low: $110,199, REO/Bank Owned, All Cash
Full-Price/Over-Asking: 5 or 38%
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Sale Type
REO/Bank Owned: 7 or 54%
Short Sale: 3 or 23%
Traditional Sale: 3 or 23%
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Financing Type
All CASH: 5 or 38%
New Conv 1st: 3 or 23%
FHA Loan: 2 or 15%
USDA Loan: 2 or 15%
VA Loan: 1 or 9%
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Happy to say Bye Bye to the most stressful week I think I’ve had in the business….Bye Bye Now!

Hollister, San Benito County Real Estate Market Update for August 6th, 2011

Lori McClelland — Sat, 06 Aug 2011 13:37:29 +0000

Image via Wikipedia

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!

Hollister, San Benito County Real Estate Market Update for June 4th, 2011

Lori McClelland — Sat, 04 Jun 2011 13:00:33 +0000

Image via Wikipedia

Single Family Residential
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Actives
San Benito County-183 of which REO/Bank Owned-30 or 16%
Hollister-123 of which REO/Bank Owned-21 or 17%

Pendings
San Benito County-162 of which REO/Bank Owned-35 or 22%
Hollister-133 of which REO/Bank Owned-29 or 22%

Absorption Rate
San Benito County-1.13 months supply of inventory or 34-days
Hollister-.92 months supply of inventory or 28-days
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Solds for the week: 11
High: $375,000 Short Sale, FHA Loan
Low: $180,000 Short Sale, FHA Loan
Full-Price/Over-Asking: 6 or 55%
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Sale Type
Short Sale: 5 or 45%
REO/Bank Owned: 3 or 27.5%
Traditional Sale: 3 or 27.5%
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Financing Type
FHA Loan: 8 or 72%
New Conv 1st: 2 or 18%
VA Loan: 1 or 10%
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Let’s just say a property is worth what a buyer is willing to pay for it. The seller’s greed does not justify the buyers need. That being said….there’s a property in the list today that I had a buyer offer $650 for … way back when it was listed for $799 and was over priced for the market. The buyer’s agent’s response….my seller won’t give the property away….4 years later…it just sold for $357 uh huh!!!