The Hollister real estate market is seeing a shift in the new homes coming on the market, and the higher price range homes are starting to become active more than the usual investment or first time home-buyer property. It has become increasingly more difficult to find homes under the $300,000 price range for the new buyers, so the low inventory and high demand has caused the prices to increase. As of now the San Benito County market is seeing a slight market recovery as predicted by the Gilroy, Morgan Hill, and San Jose market increase.
In order to find out a solid stance on a real estate market is to review the SOLD status, which confirms the market price increase. The lenders of the short sales are asking for the top dollar on homes, and buyers are paying it to close the transaction. If a buyer enters into a short sale, just be aware of the “subject to lender approval” as they have the final opinion on the sale price no matter the listing price.
Many of the homes cancelled were new construction, so buyers are not paying the premium price for new flooring, paint, and structures as builders may have hoped. Buyers are taking advantage of the low interest rates while offering the competitive prices for the great deals.
Don’t miss your chance on a real estate property, so call Kristen to get you started at 831.635.6719
*Remember that the nationwide real estate market does not mean it is your real estate market, use your local real estate agent. For San Benito, Santa Clara, and Monterey ask Kristen Jurevich with Intero Real Estate Services 831.635.6719