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Active:
San Benito County-134 of which REO/Bank Owned-25 or 19%
Hollister-70 of which REO/Bank Owned-16 or 23%
Pending:
San Benito County-215 of which REO/Bank Owned-50 or 23%
Hollister-180 of which REO/Bank Owned-40 or 22%
Absorption Rate:
San Benito County-.62 month’s supply of inventory or 19days
Hollister-.39 month’s supply of inventory or 12days
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Solds for the week: 7 (a light week for closings- another indication of our extremely low inventory)
High-$524,700 REO/Bank Owned, New Conv. 1st
Low-$210,000 Short Sale, FHA Loan
Full Price or Over Asking: 5 or 71%
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Sale Type
REO/Bank Owned-2 or 29%
Short Sale-4 or 57%
Equity Sale-1 or 14%
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Financing Type
New Conv. 1st-4 or 57%
FHA Loan-3 or 43%
All Cash-none this week
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As a seller don’t let scare you…it is an incredible time to sell property. Particularly if you are having financial difficulties and may be facing a short sale. For properties that are priced correctly they will sell immediately typically with multiple offers.
As a buyer this is an incredible opportunity to purchase. The economic forecasters are predicting that interest rates will soon rise, leaving many buyers that could afford to purchase no longer being able to do so.
Until next week…..