Hollister, San Benito County Real Estate Market Update for September 28, 2013

Solds for the Week of 09-28-13

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

 

Single Family Residential

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Actives
San Benito County-97 of which REO/Bank Owned-1 or 1%, Short Sales-5 or 5%
Hollister-60 of which REO/Bank Owned-1 or 2%, Short Sales-4 or 7%
Pendings
San Benito County-88 of which REO/Bank Owned-4 or 5%, Short Sales-28 or 32%
Hollister-69 of which REO/Bank Owned-2 or 3%, Short Sales-24 or 35%
Absorption Rate
San Benito County- 1.10 months supply of inventory or 33-days
Hollister- .87 months supply of inventory or 26-days
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Solds for the Week: 9
High: $689,000 Regular Sale, All Cash
Low:  $270,000 Regular Sale, New Conv 1st
Full-Price/Over-Asking: 7 or 78%
Average Square Footage: 1907sf
Average Price/Square Foot: $239/sf
Average Sale Price: $451,556.00
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Sale Type
Regular Sale: 8 or 89%
REO/Bank Owned: 1 or 11%
Short Sales: None
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Financing Type
New Conv 1st: 4 or 44%
FHA Loan: 2 or 22%
All Cash: 2 or 22%
VA Loan: 1 or 11%
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Steady as she goes…..
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Hollister, San Benito County Market Update for April 27, 2013

Solds for the Week of 04-27-13

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

 

Single Family Residential 

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Actives
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%
Pendings
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%
Absorption Rate
San Benito County-.46 months supply of inventory or 14-days
Hollister-.34 months supply of inventory or 10-days
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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
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Sale Type
Traditional Sale: 8 or 89%
Short Sale: 1 or 11%
REO/Bank Owned: None
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Financing Type
New Conv. 1st: 4 or 45%
FHA Loan: 3 or 33%
USDA Loan: 1 or 11%
All CASH: 1 or 11%
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 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.
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Hollister, San Benito County Real Estate Market Update for March 10, 2012

Single Famiy Residential

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Actives

San Benito County-119 of which REO/Bank Owned-27 or 23%, Short Sales-30 or 2%

Hollister-79 of which REO/Bank Owned-19 or 24%, Short Sales-28 or 35%

Pendings

San Benito County-186 of which REO/Bank Owned-25 or 13%, Short Sales-114 or 61%

Hollister-149 of which REO/Bank Owned-20 or 13%, Short Sales-91 or 61%

Absorption Rate

San Benito County-.64 months supply of inventory or 19-days

Hollister-.53 months supply of inventory or 16-days

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Solds for the week: 8

High: $290,000 Short Sale, New Conv. 1st

Low: $86,500 REO/Bank Owned, All CASH

Full-Price/Over-Asking: 4 or 50%

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Sale Type

Short Sale: 3 or 37.5%

Traditional Sale: 3 or 37.5%

REO/Bank Owned: 2 or 25%

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Financing Type

All CASH: 3 or 37.5%

FHA Loan: 2 or 25%

USDA Loan: 2 or 25%

New Conv. 1st: 1 or 12.5%

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