Weekly Real Estate Market Watch July 3-10, 2012

Vacations are not at the top of everyone’s list this summer, rather they prefer to make an investment and buy a home.  The Hollister market favors the buyer’s side slightly due to interest rates, but we are still experiencing high competition in certain price ranges.  If the home is a great deal, good location, fantastic price, then expect other buyers to think the same way.

Many mortgage rates were locked in yesterday at a jaw dropping 3.75 with zero points 30 year fixed. You were very lucky if you were locked in yesterday!!

Over the last week, over half of the properties were distressed and are short sales.  San Benito County will most likely have many distressed properties for awhile to come, but do not feel alarmed as lenders on a short sale are working quickly on approvals and listing agents are more familiar with the process.  If a buyers wants a property, then they are not afraid to take a chance on a property they want to call home.

Foreclosures are also still a part of the Hollister market, but not as dominate as short sales.  Are you wondering what the difference in a short sale and a foreclosure? Contact Kristen Jurevich at (831) 635-6719 with Intero Real Estate Services, email to Kjurevich@gmail.com, or contact me via Facebook and we can discuss your best option.

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