Friday Facts August 12, 2011

 

FRIDAY FACTS

 

August 12, 2011

 

CC&IMLS STATISTICS FOR JULY – BARNSTABLE COUNTY:

 

July 2011 July 2010

 

Residential # Change Median Change DOM # Median

 

DOM

 

Active 3869 -.41% 3885

 

Sold 243 -6.90% $322,150 -17.62% 156 261 $391,070 133

 

Pending 137 -17.47% 166

 

Condo

 

Active 967 -3.59% 1003

 

Sold 53 -5.36% $215,700 138 56 $220,607 191

 

Pending 39 +14.71% 34

 

YTD through July 31, 2011 YTD through July 31, 2010

 

Residential

 

Active 3869 -.41% 3885

 

Sold 1645 -9.37% $345,260 -6.35% 158 1815 $368,668

 

146

 

Pending 1042 -5.62% 1104

 

Condo

 

Active 967 -3.59% 1003

 

Sold 362 +4.02% $240,991 -7.89% 192 348 $261,621

 

191

 

Pending 234 +18.18% 198

 

INDUSTRY NEWS:

 

 

 

Fannie Mae is asking for another $5.1 billion. This brings the total of government capital injection to

$104 billion since 2008.

 

 

 

 

 

You’re all familiar with PMI (Private Mortgage Insurance). Inman News reports that last month both

Moody’s and S&P slashed the ratings to junk status. Already operating under waivers in 10 states

 

and barred from writing new business in 6 states, PMI wrote $6.7 billion in mortgage insurance last

 

year, down 85% from $46.1 billion in 2007. Private mortgage insurers have seen their market share

 

drop from 80% in 2007 to 16% last year. Concurrently, FHA and VA loan guarantee programs went

 

from 20% in 2007 to 84% last year.

 

 

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