Weekly Real Estate Market Watch May 29 to June 5, 2012

And they are outta’ here!  Real estate properties in Hollister, Tres Pinos, San Juan Bautista, and surrounding San Benito County areas are on the move and many changed to sold in the last month.  Buyers have been aggressively looking and offering over asking value to make a home an investment.  Although there is a shortage of inventory, the appraisals are still reserving the prices from spiraling up.

By driving down certain streets, people can notice when a home is vacant by the overgrowth of yard, the untouched window treatments, and the deserted atmosphere.  The banks do have many homes in their possession and they are not releasing them to the the public or REO agents.  I believe the banks are holding onto them because they can control the market and will be able to make more money once prices go up.  Rather than letting a bank decide our market, try a short sale rather than a foreclosure.

As of now, The Mortgage Debt Relief Act is set to expire December 31st, 2012, so next year borrowers will have to pay taxes on their forgiven debt unless it is extended.  Don’t take the gamble, talk to me about your short sale options.  Please call for a free market analysis, short sale vs. foreclosure information, or a list of foreclosures in your area at (831) 635-6719 or email KJurevich@gmail.com.

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