Hollister, San Benito County Real Estate Market Update for August 11, 2012

Solds for the week of 08-11-12

Official seal of County of San Benito
Official seal of County of San Benito (Photo credit: Wikipedia)


Single Family Residential

San Benito County-92 of which REO/Bank Owned-10 or 11%, Short Sales-15 or 16%
Hollister-45 of which REO/Bank Owned-7 or 16%, Short Sales-10 or 22%
San Benito County-174 of which REO/Bank Owned-19 or 11%, Short Sales-115 or 66%
Hollister-138 of which REO/Bank Owned-13 or 9%, Short Sales-101 or 73%
Absorption Rate
San Benito County-.53 months supply of inventory or 16-Days
Hollister-.33 months supply of inventory or 10-Days
Solds for the Week: 6
High: $395,000 Traditional Sale, USDA Loan
Low:  $170,000 Short Sale, FHA Loan
Full-Price/Over-Asking: 4 or 66.6%
Sale Type
Traditional Sale-3 or 50%
Short Sale-2 or 33.3%
REO/Bank Owned-1 or 16.6%
Financing Type
New Conv. 1st-3 or 50%
FHA Loan-1 or 16.6%
USDA Loan-1 or 16.6%
VA Loan-1 or 16.6%
Quote from the guy’s at TBWS Daily ~ “We honestly believe we have a mini-bubble going on right now.  Rates and home prices are super low, government refinance programs are flourishing and banks are holding back inventory reducing supply which is giving us a false demand.”
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