Hollister, San Benito County Real Estate Market Update for March 9, 2013

Solds for the Week of 03-09-13

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

 

Single Family Residential

_____________________________________________________________________
Actives
San Benito County-49 of which REO/Bank Owned-2 or 4%, Short Sales-4 or 8%
Hollister-24 of which REO/Bank Owned-None, Short Sales-3 or 12%
Pendings
San Benito County-134 of which REO/Bank Owned-6 or 4%, Short Sales-70 or 52%
Hollister-112 of which REO/Bank Owned-5 or 4%, Short Sales-63 or 56%
Absorption Rate
San Benito County-.36 months supply of inventory or 11-Days
Hollister-.21 months supply of inventory or 6-Days
_____________________________________________________________________
Solds for the Week: 9
High: $499,000 Traditional Sale, All CASH
Low:  $235,000 Traditional Sale, New Conv. 1st
Full-Price/Over-Asking Price: 5 or 55%
Average Sales Price: $377,400
Average Price/Square Foot: $175
_____________________________________________________________________
Sale Type
Traditional Sale: 6 or 66%
Short Sale: 2 or 22%
REO/Bank Owned: 1 or 11%
_____________________________________________________________________
Financing Type

New Conv 1st: 5 or 55%
All CASH: 2 or 22%
FHA Loan: 1 or 11%
VA Loan: 1 or 11%
_____________________________________________________________________
Things that make ya go hummmm….
Of the 49 properties on the market for San Benito County only 16 or 32% are listed under $500,000
Of the 24 properties on the market for Hollister only 6 or 25% are listed under $500,000
Oh my!
Enhanced by Zemanta

Hollister, San Benito County Real Estate Market Update for March 2, 2013

Solds for the Week of 03-02-13

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

 

Single Family Residential

_____________________________________________________________________
Actives
San Benito County-54 of which REO/Bank Owned-1 or 2%, Short Sales-5 or 9%
Hollister-32 of which REO/Bank Owned-0, Short Sales-5 or 16%
Pendings
San Benito County-134 of which REO/Bank Owned-8 or 6%, Short Sales-74 or 55%
Hollister-112 of which REO/Bank Owned-7 or 6%, Short Sales-66 or 59%
Absorption Rate
San Benito County-.40 months supply of inventory or 12-Days
Hollister-.28 months supply of inventory or 8.6-Days
_____________________________________________________________________
Sold’s for the Week: 5
High: $520.000 Traditional Sale, New Conv. 1st
Low:  $315,000 Short Sale, FHA Loan
Full-Price/Over-Asking: 2 or 40%
Average Sales Price: $414,400
Average Price/Square Foot: $190
_____________________________________________________________________
Sale Type
Traditional Sale: 2 or 40%
Short Sale: 2 or 40%
REO/Bank Owned: 1 or 20%
_____________________________________________________________________
Financing Type
New Conv 1st: 2 or 40%
FHA Loan: 2 or 40%
USDA Loan: 1 or 20%
Enhanced by Zemanta

Hollister, San Benito County Real Estate Market Update for February 23, 2013

Solds for the Week of 02-23-13

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

 

Single Family Residential

______________________________________________________________________
Actives
San Benito County-47 of which REO/Bank Owned-NONE, Short Sales-4 or 8.5%
Hollister-23 of which REO/Bank Owned-NONE, Short Sales-4 or 17%
Pendings
San Benito County-137 of which REO/Bank Owned-10 or 7%, Short Sales-77 or 56%
Hollister-114 of which REO/Bank Owned-9 or 6%, Short Sales-67 or 59%
Absorption Rate
San Benito County-.34 months supply of inventory or 10-Days
Hollister-.20 months supply of inventory or 6-Days
______________________________________________________________________
Solds for the Week: 6
High: $570,000 Traditional Sale, New Conv 1st
Low:  $125,000 REO/Bank Owned, New Conv 1st
Full-Price/Over-Asking: 2 or 33%
Average Sales Price: $340,000
Average Square Footage: 1765sf
Average Price/SF: $196
______________________________________________________________________
Sale Type
Traditional Sale: 5 or 83%
REO/Bank Owned: 1 or 17%
Short Sales: None
______________________________________________________________________
Financing Type
New Conv 1st: 4 or 66%
USDA Loan: 1 or 17%
All CASH: 1 or 17%
______________________________________________________________________
Wow! For the first time in at least 6 years there are NO ACTIVE REO/BANK OWNED HOMES!
Do I believe we are past the distressed property market…absolutely not! Do I think government intervention and lawsuit agreements with the banks have successfully ground the market to halt? You decide…..Think about this…low inventory, low interest rates, high buyer demand=raising prices….recipe for????
Enhanced by Zemanta

Seller’s where are you? Only 55 Active SFR Properties in San Benito County today 02-13-13

Active SFR San Benito County 02-13-13

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

 

Where have all the Seller’s gone?

Our inventory for SFR – Single Family Residential Listings in all of San Benito County stand at 55 today.  For Hollister we are at 31. Number’s that are shockingly LOW!

What should they be for normal market conditions??? Good question! For a community our size the inventory should be about 250-300.

Because of the lack of supply we are seeing multiple offer’s on just about everything that is priced right! How many offer’s you ask….how about 20!!

Some properties are selling for 10-20% over list price!!!

Again….Seller’s where are you?????

The banks have lost focus on foreclosures due to lawsuit settlement agreements and federal regulations that have successfully ground the system almost to a halt.  They are now focused on Short Sales…..If you’re upside down and been sitting back wondering what to do…now is the time to get yourself out of that hole! Better yet…it put’s you in a position to buy again sooner rather than later! If you haven’t heard Buyer’s are no longer reluctant to write offer’s on Short Sales. The property I mentioned above with 20 offer’s … a Short Sale in Sunnyslope Village!!!

Our office alone has about 15 buyer’s we can’t seem to find properties that meet their needs…..Mr. Seller it’s highly likely we could have a buyer just waiting for to you to make the decision to SELL….

If you are in a Short Sale position….the agents in this office are the best in the business getting Short Sales approved and closed!

Until next time or when you need us we’re here to help 🙂 and your referrals too!

 

Enhanced by Zemanta

Hollister, San Benito County Real Estate Market Update for February 9, 2013

Single Family Residential

Official seal of County of San Benito
Official seal of County of San Benito (Photo credit: Wikipedia)
_____________________________________________________________________
Actives
San Benito County-52 of which REO/Bank Owned-2 or 4%, Short Sales-3 or 6%
Hollister-29 of which REO/Bank Owned-2 or 7%, Short Sales-3 or 10%
Pendings
San Benito County-137 of which REO/Bank Owned-9 or 7%, Short Sales-82 or 60%
Hollister-116 of which REO/Bank Owned-7 or 6%, Short Sales-72 or 62%
Absorption Rate
San Benito County-.38 months supply of inventory or 11 days
Hollister-.25 months supply of inventory or 7.5 days
_____________________________________________________________________
Solds for the Week: 10
High: $579,900 Traditional Sale, New Conv 1st
Low:  $235,000 REO/Bank Owned, New Conv 1st
****Full-Price/Over-Asking: 8 or 80% – of those 3 were full-price and 5 were over list.
The lowest over-list was $10,000. The highest over was $49,000. The average $26,000
Ave. Square Footage: 2018sf
Ave. Sale Price: $374,090.00
Ave. Price/Square Foot: $181.18
______________________________________________________________________
Sale Type
Traditional Sale: 7 or 70%
REO/Bank Owned: 2 or 20%
Short Sale: 1 or 10%
______________________________________________________________________
Financing Type
All Cash: 3 or 30%
New Conv 1st: 3 or 30%
FHA Loan: 2 or 20%
VA Loan: 1 or 10%
USDA Loan: 1 or 10%
Enhanced by Zemanta

Hollister, San Benito County Real Estate Market Update for February 2, 2013

Solds for the Week of 02-02-13

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

 

Single Family Residential

_____________________________________________________________________
Actives:
San Benito County-55 of which REO/Bank Owned-3 or 5%, Short Sales-5 or 9%
Hollister-33 of which REO/Bank Owned-2 or 6%, Short Sales-5 or 15%
Pendings:
San Benito County-139 of which REO/Bank Owned-10 or 7%, Short Sales-82 or 59%
Hollister-117 of which REO/Bank Owned-9 or 8%, Short Sales-71 or 61%
Absorption Rate:
San Benito County-.39 months supply of inventory or 12-days
Hollister-.28 months supply of inventory or 8.5-days
_____________________________________________________________________
Solds for the Week: 14
High: $875,000 New Conv 1st, Traditional Sale (Dr. Bruce’s Vet Clinic)
Low:  $173,500 FHA Loan, REO/Bank Owned
Full-Price/Over-Asking: 4 or 29%
Average Price/Square Foot: $201.49
Average Sales Price: $429,607.00
_____________________________________________________________________
Sale Type
Traditional Sale: 11 or 79%
REO/Bank Owned: 2 or 14%
Short Sale: 1 or 7%
_____________________________________________________________________
Financing Type
New Conv 1st: 5 or 37%
FHA Loan: 4 or 28%
VA Loan: 2 or 14%
USDA Loan: 2 or 14%
All Cash: 1 or 7%
_____________________________________________________________________
**Of Note:
2843 Ty Drive was listed at $499,900. We were aware of at least 11 offer’s on the property and it closed for an astounding $605,000!
Sold for 20% over list price, OMG! That’s crazy!!!
Enhanced by Zemanta

Hollister, San Benito County Real Estate Market Update for the last 21 Days

Solds for the last 3 weeks 01-26-13

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

 

 

***  I looked at the sold’s for the last 3 weeks since I was sick on the 12th and then on the cruise ship the 19th.

Single Family Residential
_____________________________________________________________________

Actives:
San Benito County-51 of which REO/Bank Owned-1 or 2%, Short Sales-5 or 10%
Hollister-28 of which REO/Bank Owned-None, Short Sales-5 or 18%
Pendings:
San Benito County-148 of which REO/Bank Owned-14 or 9%, Short Sales-82 or 55%
Hollister-126 of which REO/Bank Owned-13 or 10%, Short Sales-71 or 56%
Absorption Rate:
San Benito County-.34 months supply of inventory or 10-days
Hollister-.22 months supply of inventory or 6.5-days
_____________________________________________________________________
Solds for the last 21 days: 19
High: $450,000, New Conv 1st, Traditional Sale
Low:  $125,000, New Conv 1st, Traditional Sale
Full-Price/Over-Asking: 11 or 58%
Average Square Footage: 1727sf
Average Sale Price: $289,211.00
Average Price/Square Foot: $172.00
_____________________________________________________________________
Sale Type
Traditional Sale: 13 or 68%
Short Sale: 6 or 32%
REO/Bank Owned: None
_____________________________________________________________________
Financing Type
FHA Loan: 8 or 43%
New Conv 1st: 7 or 37%
All Cash: 2 or 10%
VA Loan: 1 or 5%
USDA Loan: 1 or 5%
_____________________________________________________________________
Looks like our inventory has reached “historic lows” 
Enhanced by Zemanta

Hollister, San Benito County Real Estate Market Update for January 5th, 2013

Solds for the Week of 01-05-13

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

 

Single Family Residential

_____________________________________________________________________
Actives
San Benito County-55 of which REO/Bank Owned-2 or 4%, Short Sales-5 or 9%
Hollister-33 of which REO/Bank Owned-1 or 3%, Short Sales-4 or 12%
Pendings
San Benito County-135 of which REO/Bank Owned-11 or 8%, Short Sales-79 or 59%
Hollister-117 of which REO/Bank Owned-11 or 9%, Short Sales-69 or 59%
Absorption Rate
San Benito County-.40 months supply of inventory or 12-days
Hollister-.28 months supply of inventory or 8.4-days
_____________________________________________________________________
Solds for the Week: 2
High: $809,000 New Conv 1st, Traditional Sale
Low:  $243,000 New Conv 1st, Short Sale
Full-Price/Over-Asking: 1 or 50%
Ave. Price/Square Foot: $166
Ave. Sales Price: $526,000
_____________________________________________________________________
Sale Type
Traditional Sale: 1 or 50%
Short Sale: 1 or 50%
_____________________________________________________________________
Don’t EVER remember the inventory being this low…not even during the run-up of the market!
Enhanced by Zemanta