Lori Uhl McClelland's Blog » VA loan

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

_____________________________________________________

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

_____________________________________________________

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%

_____________________________________________________

Sale Type

Short Sale: 3 or 60%

Traditional Sale: 2 or 40%

REO/Bank Owned: None

_____________________________________________________

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
_________________________________________________________________
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
_________________________________________________________________
Solds for the week: 8
High: $615,000, Short Sale, New Conv. 1st
Low: $165,000, Traditional Sale, New Conv 1st
_________________________________________________________________
Sale Type:
Short Sale-4 or 50%
Traditonal Sale-4 or 50%
_________________________________________________________________
Financing Type:
New Conv. 1st-6 or 75%
FHA Loan-1 or 12.5%
VA Loan-1 or 12.5%
_________________________________________________________________

Image via Wikipedia

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

____________________________________________________________
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
____________________________________________________________
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%
____________________________________________________________
Sale Type
Short Sale: 7 or 64%
REO/Bank Owned: 3 or 27%
Traditional Sale: 1 or 9%
____________________________________________________________
Financing Type
FHA Loan: 5 or 46%
New Conv 1st: 4 or 36%
VA Loan: 1 or 9%
All CASH: 1 or 9%
____________________________________________________________

Hollister, San Benito County Real Estate Market Update for October 1, 2011

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

Image via Wikipedia

Single Family Residential
____________________________________________________________
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
____________________________________________________________
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%
____________________________________________________________
Sale Type
Short Sale: 11 or 65%
REO/Bank Owned: 4 or 24%
Traditional Sale: 2 or 12%
____________________________________________________________
Financing Type
FHA Loan: 8 or 47%
New Conv 1st: 7 or 41%
VA Loan: 1 or 6%
All CASH: 1 or 6%
____________________________________________________________

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
____________________________________________________________
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
____________________________________________________________
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%
____________________________________________________________
Sale Type
REO/Bank Owned: 7 or 54%
Short Sale: 3 or 23%
Traditional Sale: 3 or 23%
____________________________________________________________
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%
____________________________________________________________
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
____________________________________________________________
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
____________________________________________________________
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%
____________________________________________________________
Sale Type
Traditional Sale: 7 or 47%
REO/Bank Owned: 5 or 33%
Short Sale: 3 or 20%
____________________________________________________________
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%
____________________________________________________________
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
____________________________________________________________
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
____________________________________________________________
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%
____________________________________________________________
Sale Type
Short Sale: 5 or 45%
REO/Bank Owned: 3 or 27.5%
Traditional Sale: 3 or 27.5%
____________________________________________________________
Financing Type
FHA Loan: 8 or 72%
New Conv 1st: 2 or 18%
VA Loan: 1 or 10%
____________________________________________________________
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!!!

Hollister, San Benito County Real Estate Market Update for May 28th, 2011

Lori McClelland — Sat, 28 May 2011 14:11:18 +0000

Image via Wikipedia

Single Family Residential
____________________________________________________________
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
____________________________________________________________
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%
____________________________________________________________
Sale Type:
Short Sale-8 or 53%
REO/Bank Owned-4 or 27%
Regular Sale-3 or 20%
____________________________________________________________
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%
____________________________________________________________

Hollister, San Benito County Real Estate Market Update for May 7th, 2011

Lori McClelland — Sat, 07 May 2011 12:50:14 +0000

Image via Wikipedia

Single Family Residential

____________________________________________________________

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

____________________________________________________________

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%

____________________________________________________________

Sale Type

Tradtional Sale: 6 or 50%

REO/Bank Owned: 3 or 25%

Short Sale: 3 or 25%

____________________________________________________________

Financing Type

New Conv 1st: 5 or 42%

FHA Loan: 5 or 42%

VA Loan: 1 or 8%

USDA Loan: 1 or 8%

_____________________________________________________________

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!!!

Hollister, San Benito County Real Estate Market Update for April 23, 2011

Lori McClelland — Sat, 23 Apr 2011 12:41:18 +0000

Image via Wikipedia

Single Family Residential

____________________________________________________________

Actives:

San Benito County-176 of which REO/Bank Owned-25 or 14%

Hollister-125 of which REO/Bank Owned-25 or 20%

Pendings:

San Benito County-183 of which REO/Bank Owned-38 or 21%

Hollister-143 of which REO/Bank Owned-33 or 23%

Absorption Rate:

San Benito County-.96 months supply of inventory or 29-days

Hollister-.87 months supply of inventory or 26-days

____________________________________________________________

Solds for the week: 14 (3 late reportings or 21%)

High: $435,000 Short Sale, All CASH

Low: $160,000 Traditional Sale, All CASH

Full-Price/Over-Asking: 9 or 64%

____________________________________________________________

Sale Type

REO/Bank Owned: 8 or 57%

Short Sale: 4 or 28%

Traditional Sale: 2 or 14%

____________________________________________________________

Financing Type

FHA Loan: 5 or 36%

New Conv 1st: 4 or 28%

USDA Loan: 3 or 21%

All CASH: 2 or 14%

____________________________________________________________