After a six year downturn, the U.S. housing market is recovering and San Benito is also seeing an increase. For the last few months I have been showing that the real estate industry has been changing for the better with fewer homes for sale causing an increase in demand. While some first time home buyers missed their opportunity to buy, many buyers are still striking gold with the real estate properties.
Last month San Benito County had a ten percent increase in homes for sale, however 70% of the market were bank owned (properties that have been foreclosed) or short sales. Some people ask how is the market getting better if it is still such a high number of distressed properties for sale? And they simply have to be remember that pretty much any home sale from 2002-2007 in Hollister had an inflated sales price, so a home selling less than than price, mostly all, are going to be a short sale unless the seller originally bought it with cash or put money into their home.
Currently the area has about 35% active distressed properties, and they are quickly moving to sold. Short sale lender’s are approving the proven distressed properties, and real estate agents are becoming more educated with the process. If you need to move or thinking about purchasing in the Holister, Gilroy, Monterey area please contact Kristen Jurevich with Intero or visit Facebook.com/HollisterRealtor for a free list of foreclosures or a no obligation CMA.