Weekly Market Watch: 1st Week of June

San Benito County Market Statistics for the First Week of June 2011

Short sales take the summer lead with new properties for sale in San Benito County followed by a tie with bank owned and traditional sale. Only four new listings are over $400,000, so the first time homebuyer market is still hot with under 5% interest rates! Hollister had two price increased due to lender approval prices, so the 8 short sales that just had a price decrease may only be lowered to attract a buyer. A good question to ask a buyer, will you be willing to increase your purchase price for a lender’s approval? When I write on short sales with my client, I like to support my offer with comparable properties. Let’s not waste anyones time, and come in with a fair market value.

Unfortunately there have been 9 listings taken off the market, and I can only wonder if they lost their home to foreclosure. If you know someone who is struggling with their mortgage payment, don’t let the foreclosure timeline come any closer without talking to a short sale certified agent. I an help!

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