San Benito County almost broke even on the properties Just Listed vs. Just Sold changes over the last week. The even exchange in properties has caused more competition to buyers and now we are seeing the multiple offer war happening again similarly to a few years ago.
Over the last year Hollister has a record number of foreclosures, however we have not seen the properties enter the real estate market. Since the foreclosed properties have not entered the market, it is hard to tell what to really expect in the future. The banks could release them all at once to sink the market values, which is not financially feasible for anyone in the housing industry. The banks could try to get into the rental business an have struggling homeowners rent current market value back to the bank, such as Bank of America is doing with 1000 selected properties. Or the government could pass a law forgiving some debt to help struggling homeowners with lower payments, but I do not think investors wills support that change.
Right now Holliste ris a great place to get an investment, but it just depends on IF you can get one of these hot properties. Make sure you have a knowledgeable Realtor to help you through like me, Kristen Jurevich with Intero at 831.635.6719.