FRIDAY FACTS
November 19, 2010
When your sellers want to wait for the spring market when all will be sunshine and roses, let them know:
Inman reports that housing is still deteriorating. The brand new guide to underwriters at Mortgage Guaranty Insurance Corporation (MGIC) covering 73 metropolitan areas found 27 “stable”, all the rest were “weak” or “soft”. Of the stable, 12 are softening leaving only one metro area in 5 truly steady.
Inman also quotes a Zillow report that nationwide, home values fell for the 17th straight quarter, a 25% drop from the market peak in June ’06. The current housing recession is rivaling the Great Depression’s real estate downturn.
According to NAR, during the year ending in June 2010, 1st time buyers accounted for half (47%) of all home sales.
WCVB Channel 5 lists the top 10 towns with the most foreclosures: Springfield, Worcester, Dorchester, Brockton, Lowell, New Bedford, Lynn, Lawrence, Fitchburg and Fall River.
On Cape Cod, year to date foreclosure deeds:
Town 2009 2010 %Change
Barnstable 15 10 - 33.37%
Bourne 19 37 94.74%
Brewster 5 9 80%
Centerville 22 30 36.36%
Chatham 6 15 150%
Cotuit 3 3
Dennis 21 47 123.81%
Eastham 8 14 75%
Falmouth 35 73 108.75%
Harwich 11 26 136.36%
Hyannis 67 99 47.76%
Marston’s Mills 8 26 225%
Mashpee 41 51 24.39%
Orleans 4 8 100%
Osterville 3 14 366.67%
Provincetown 6 18 200%
Sandwich 23 41 78.26%
Truro 1 2 100%
Wellfleet 3 4 33.33%
Yarmouth 47 97 106.38%
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