Single Family Residential
San Benito County-63 of which REO/Bank Owned-2 or 3%, Short Sales-1 or 2%
Hollister-38 of which REO/Bank Owned-None, Short Sales-1 or 3%
San Benito County-138 of which REO/Bank Owned-6 or 4%, Short Sale-67 or 49%
Hollister-113 of which REO/Bank Owned-5 or 4%, Short Sales-58 or 57%
San Benito County-.46 months supply of inventory or 14-days
Hollister-.34 months supply of inventory or 10-days
Solds for the Week: 9
High: $750,000, Traditional Sale, New Conv 1st
Low: $310,000, Traditional Sale, FHA Loan
Full-Price/Over-Asking: 6 or 67%
Average Sales Price: $471,835.00
Average Square Footage: 2227sf
Average Price/Square Foot: $224/sf
Traditional Sale: 8 or 89%
Short Sale: 1 or 11%
REO/Bank Owned: None
New Conv. 1st: 4 or 45%
FHA Loan: 3 or 33%
USDA Loan: 1 or 11%
All CASH: 1 or 11%
What stands out this week?
The lack of Bank Owned Properties and Short Sales….
Do I think we no longer have distressed homeowners…No.
Due to the California Homeowner’s Bill of Rights that took effect January 1st, 2013 the rate of foreclosures has further ground to a halt leaving many distressed properties and homeowner’s in a Zombieland.
Some homeowner’s have gotten relief through loan modification and or principle forgiveness.
The magic number for principle forgiveness appears to be about $150,000. I have not heard of any numbers higher then that.