Register O’Donnell Reports Healthy Real Estate Activity in Norfolk County for April 2021

As our communities are starting to get back to normal and the COVID restrictions are starting to be lifted, Register of Deeds William P. O’Donnell reports that the increases seen in real estate activity in Norfolk County are continuing.  The month of April in 2021 saw increases in a number of real estate indicators over the same time period in 2020.

Register O’Donnell stated, “The Norfolk County real estate market continues to be strong.  There were 17,744 documents recorded at the Norfolk County Registry of Deeds in April which is a 53% increase over last year’s April document volume.  There were 1,693 deeds recorded out of this document volume, representing a 54% increase over April of last year.  Average sale price, again including both residential and commercial sales, increased 45% over 2020 to $1,163,838.48.  Last year’s April real estate numbers were at the beginning of the onset of COVID-19 and the COVID-19 emergency declarations so it is pleasing to see that the real estate market has been vibrant and stable as we start to return to our daily lives.”

Low inventory of properties for sale are keeping prices for real estate up.  Low interest rates are helping buyers afford the home prices of these properties.  The county unemployment rate in Massachusetts was reported as 6.8%.  However, in 5 of the 14 Counties in Massachusetts the unemployment rate is lower than 6.8%.  Norfolk County is one of those counties in the lower unemployment rate category.

In addition to real estate sales, the Norfolk County lending market has been very busy in April.  There were 4,212 mortgages recorded during the month which is a 21% increase over 2020.  Total amount of money borrowed for mortgages county wide was almost 2 billon, a 23% increase compared to April 2020.  “While some of the mortgages are due to purchases and sales of real estate, there are a large number of individuals and families taking advantage off historically low interest rates by refinancing existing mortgages.  Individuals have different motivations to refinance.  Some refinance to reduce their monthly payments, others to take some years off their debt while still others are using the money to pay for home improvements and other capital expenditures” said Register O’Donnell. 

Register O’Donnell went on to state, “There has been a strong demand for housing, single family housing particular, coupled with a limited supply of available housing stock and historically low interest rates which could be motivating buyers to do what is necessary to secure housing.  Lending activity was up.  The growth in numbers seen in 2020 continues into 2021. 

A moratorium on foreclosures in place during the pandemic in 2020 was lifted on October 17, 2020.  This moratorium was in place due to the COVID-19 pandemic.  The Norfolk County Registry of Deeds has been closely watching the foreclosure market.  O’Donnell stated, “During April of 2021 there were 6 foreclosure deeds recorded as a result of foreclosure processes taking place in Norfolk County.  Additionally, there were 4 Notices to Foreclosure Mortgages, the first step in the foreclosure process, recorded here in Norfolk County.  A foreclosure recording is very impactful on those being foreclosed on.  April of 2020 there was only 1 Notices to Foreclosure Mortgages and 13 foreclosure Deeds.  Though it is great to see that the Foreclosure deed numbers have decreased by more than half, we will continue to watch these numbers.”

“The Norfolk County Registry of Deeds has also been working in close cooperation with Attorney General Maura Healey’s office to ensure there are no abuses being perpetrated against homeowners while the COVID-19 state of emergency is ongoing,” noted O’Donnell.

Additionally, for the past several years, the Norfolk County Registry of Deeds has partnered with Quincy Community Action Programs, 617-479-8181 x376, and NeighborWorks Housing Solutions, 508-587-0950 to help anyone facing challenges paying their mortgage. Another option for homeowners is to contact the Massachusetts Attorney General’s Consumer Advocacy and Response Division (CARD) at 617-727-8400. Register O’Donnell stated, “If you are having difficulty paying your monthly mortgage, please consider contacting one of these non-profit agencies for help and guidance.”

Homestead recordings by owners of homes and condominiums continue to increase this year at the Norfolk County Registry of Deeds in April.    There was a 44% increase in homestead recordings in April 2021 compared to April 2020.  “A Homestead,” noted O’Donnell, “provides limited protection against the forced sale of an individual’s primary residence to satisfy unsecured debt up to $500,000.  It is great to see folks protecting the biggest asset most of us have, our homes.  I would urge anyone who has not availed themselves of this important consumer protection tool to consider doing so.  Please visit the Registry website at www.norfolkdeeds.org  to get more information on homestead protection.”

In conclusion, Register O’Donnell stated, “Many small businesses and specific sectors of our economy, such as restaurant and hospitality, have been negatively impacted by the ongoing COVID-19 pandemic. One sector that has continued to thrive during the pandemic is the real estate market, particularly the residential market. There have been many factors that have kept the Norfolk County real estate market viable. Motivated buyers and sellers, low interest rates, and the Norfolk County Registry of Deeds remaining open for the recording of land documents. While the Registry of Deeds building in Dedham remains closed to the general public, we at the Registry remain open operationally to serve our customers, the residents of Norfolk County and real estate professionals alike. By listening to public health officials, practicing social distancing, making sure all staff are wearing masks and taking any and all other steps necessary, the Registry of Deeds has remained open for business. Land documents are being recorded electronically for many of our institutional users. We are also receiving documents via regular mail, Federal Express and from those placed in our drop-off box located just outside our main entrance at 649 High Street, Dedham, MA. As your Norfolk County Register of Deeds, I want to thank all of you for the cooperation, patience and understanding you have shown myself and the Registry staff while this pandemic has been ongoing.”

To learn more about these and other Registry of Deeds events and initiatives, like us at facebook.com/NorfolkDeeds or follow us on twitter.com/NorfolkDeeds and Instagram.com/NorfolkDeeds.

The Norfolk County Registry of Deeds is located at 649 High Street in Dedham.  The Registry is a resource for homeowners, title examiners, mortgage lenders, municipalities and others with a need for secure, accurate, accessible land record information.  All land record research information can be found on the Registry’s website www.norfolkdeeds.org.  Residents in need of assistance can contact the Registry of Deeds Customer Service Center via telephone at (781) 461-6101, or email us at registerodonnell@norfolkdeeds.org. 

Register O’Donnell Reports Continued Increases in Real Estate Activity in Norfolk County

Register of Deeds William P. O’Donnell reported that the increases seen in real estate activity in Norfolk County is continuing.  The month of March in 2021 saw increases in a number of real estate indicators over the same time period in 2020.

Register O’Donnell stated, “The Norfolk County real estate market continues to be vibrant.  There were 19,892 documents recorded at the Norfolk County Registry of Deeds which is a 58% increase over last year’s March document volume.  There were 1,672 deeds recorded out of this document volume, representing a 24% increase over March of last year.  Average sale price, again including both residential and commercial sales, increased 27% over 2020 to $914,601.61.  Last year’s March real estate numbers were at the beginning of the onset of COVID-19 and the COVID-19 emergency declarations so it is pleasing to see that the real estate market has rebounded from that unforeseen emergency.”

In addition to real estate sales, the Norfolk County lending market has been very busy in March.  There were 5,423 mortgages recorded during the month which is a 69% increase over 2020.  Total amount of money borrowed for mortgages county wide was over 2.2 billon, a 28% increase compared to March 2020.  “While some of the mortgages are due to purchases and sales of real estate, there are a large number of individuals and families taking advantage off historically low interest rates by refinancing existing mortgages.  Individuals have different motivations to refinance.  Some refinance to reduce their monthly payments, others to take some years off their debt while still others are using the money to pay for home improvements and other capital expenditures” said Register O’Donnell. 

Register O’Donnell went on to state, “There has been a strong demand for housing, single family housing particular, coupled with a limited supply of available housing stock and historically low interest rates which could be motivating buyers to do what is necessary to secure housing.  Lending activity was up.  The growth in numbers seen in 2020 continues into 2021. 

A moratorium on foreclosures in place during the pandemic in 2020 was lifted on October 17, 2020.  This moratorium was in place due to the COVID-19 pandemic.  The Norfolk County Registry of Deeds has been closely watching the foreclosure market.  O’Donnell stated, “During March of 2021 there were 4 foreclosure deeds recorded as a result of foreclosure processes taking place in Norfolk County.  Additionally, there were 16 Notices to Foreclosure Mortgages, the first step in the foreclosure process, recorded here in Norfolk County.  A foreclosure recording is very impactful on those being foreclosed on.  These numbers are extremely low especially when you consider in March of 2020 just as COVID was coming into play there were 51 Notices to Foreclosure Mortgages and 10 foreclosure Deeds.  This month’s foreclosure numbers are higher than the previous few months.  It is something to watch as the year progresses.”

“The Norfolk County Registry of Deeds has also been working in close cooperation with Attorney General Maura Healey’s office to ensure there are no abuses being perpetrated against homeowners while the COVID-19 state of emergency is ongoing,” noted O’Donnell.

Additionally, for the past several years, the Norfolk County Registry of Deeds has partnered with Quincy Community Action Programs, 617-479-8181 x376, and NeighborWorks Housing Solutions, 508-587-0950 to help anyone facing challenges paying their mortgage. Another option for homeowners is to contact the Massachusetts Attorney General’s Consumer Advocacy and Response Division (CARD) at 617-727-8400. Register O’Donnell stated, “If you are having difficulty paying your monthly mortgage, please consider contacting one of these non-profit agencies for help and guidance.”

Homestead recordings by owners of homes and condominiums continue to increase this year at the Norfolk County Registry of Deeds in March.    There was a 23% increase in homestead recordings in March 2021 compared to March 2020.  “A Homestead,” noted O’Donnell, “provides limited protection against the forced sale of an individual’s primary residence to satisfy unsecured debt up to $500,000.  It is great to see folks protecting the biggest asset most of us have, our homes.  I would urge anyone who has not availed themselves of this important consumer protection tool to consider doing so.  Please visit the Registry website at www.norfolkdeeds.org  to get more information on homestead protection.”

In conclusion, Register O’Donnell stated, “Many small businesses and specific sectors of our economy, such as restaurant and hospitality, have been negatively impacted by the ongoing COVID-19 pandemic. One sector that has continued to thrive during the pandemic is the real estate market, particularly the residential market. There have been many factors that have kept the Norfolk County real estate market viable. Motivated buyers and sellers, low interest rates, and the Norfolk County Registry of Deeds remaining open for the recording of land documents. While the Registry of Deeds building in Dedham remains closed to the general public, we at the Registry remain open operationally to serve our customers, the residents of Norfolk County and real estate professionals alike. By listening to public health officials, practicing social distancing, making sure all staff are wearing masks and taking any and all other steps necessary, the Registry of Deeds has remained open for business. Land documents are being recorded electronically for many of our institutional users. We are also receiving documents via regular mail, Federal Express and from those placed in our drop-off box located just outside our main entrance at 649 High Street, Dedham, MA. As your Norfolk County Register of Deeds, I want to thank all of you for the cooperation, patience and understanding you have shown myself and the Registry staff while this pandemic has been ongoing. Be healthy. Be safe.”

To learn more about these and other Registry of Deeds events and initiatives, like us at facebook.com/NorfolkDeeds or follow us on twitter.com/NorfolkDeeds and Instagram.com/NorfolkDeeds.

The Norfolk County Registry of Deeds is located at 649 High Street in Dedham.  The Registry is a resource for homeowners, title examiners, mortgage lenders, municipalities and others with a need for secure, accurate, accessible land record information.  All land record research information can be found on the Registry’s website www.norfolkdeeds.org.  Residents in need of assistance can contact the Registry of Deeds Customer Service Center via telephone at (781) 461-6101, or email us at registerodonnell@norfolkdeeds.org.

Register O’Donnell Reports Continued Increases in Real Estate Activity in Norfolk County

Fiscal Year 2021 4th Quarter Real Estate & Personal Property Tax Bills have been mailed

Fiscal Year 2021 4th Quarter Real Estate & Personal Property Tax Bills have been mailed

Treasurer Collector, Kerri A. Bertone has mailed the Fiscal Year 2021 4th Quarter Real Estate and Personal Property tax bills. 

The due date for these bills is May 3, 2021

Shared from: https://www.franklinma.gov/treasurer-collector/news/fiscal-year-2021-4th-quarter-real-estate-personal-property-tax-bills-have

Fiscal Year 2021 4th Quarter Real Estate & Personal Property Tax Bills have been mailed

Register O’Donnell Reports Increased Real Estate Numbers in Norfolk County

Typically, February as one of the winter months does not have as great an amount of real estate activity as other months in the calendar year.  However, despite the above and despite the continuing challenges brought on by the COVID-19 pandemic, Register of Deeds William P. O’Donnell reported increased numbers in many real estate categories during the month of February 2021 compared to February of 2020.

“The Norfolk County real estate market” noted Register O’Donnell, “has continued to be busy.  Historically, February as one of the winter months does not see as much real estate activity.  However, there were 15,549 documents recorded at the Norfolk County Registry of Deeds which is a 44% increase over last year’s February document volume.  There were 1,250 deeds recorded out of this document volume, representing a 16% increase over February of last year.  Average sale price, again including both residential and commercial sales, increased 13% over 2020 to $860,812.32.  The real estate numbers are robust especially considering that last year’s February real estate numbers were prior to the onset of COVID-19 and the COVID-19 emergency declarations.”

In addition to real estate sales, the Norfolk County lending market has been busy in February.  There were 4,389 mortgages recorded during the month which is a 103% increase over 2020.  Total amount of money borrowed for mortgages county wide was over 1.6 billon, a 19% increase compared to February 2020.  “While some of the mortgages are due to purchases and sales of real estate, there are a large number of individuals and families taking advantage off historically low interest rates by refinancing existing mortgages.  Individuals have different motivations to refinance.  Some refinance to reduce their monthly payments, others to take some years off their debt while still others are using the money to pay for home improvements and other capital expenditures” said Register O’Donnell.  

Register O’Donnell went on to state, “There has been a strong demand for housing, single family housing particular, coupled with a limited supply of available housing stock and historically low interest rates which could be motivating buyers to do what is necessary to secure housing.  Lending activity was up.  The growth in numbers seen in 2020 continues into 2021.  However, there are expectations that for 2021 many of the numbers may not be as expansive as what took place in 2020.  Yet February 2021 statistics exceeded February 2020 statistics.”

The Norfolk County Registry of Deeds has been closely watching the foreclosure market.  A moratorium on foreclosures in place during the pandemic in 2020 was lifted on October 17, 2020.  This moratorium was in place due to the COVID-19 pandemic.  O’Donnell stated, “During February of 2021 there was only 1 foreclosure deed recorded as a result of foreclosure processes taking place in Norfolk County.  Additionally, there were 6 Notices to Foreclosure Mortgages, the first step in the foreclosure process, recorded here in Norfolk County.  A foreclosure recording is very impactful on those being foreclosed on.  These numbers are extremely low especially when you consider in February of 2020 pre-COVID there were 51 Notices to Foreclosure Mortgages and 18 foreclosure Deeds.  The foreclosure numbers in the future bear watching given the negative economic impacts of COVID-19.”

“The Norfolk County Registry of Deeds has also been working in close cooperation with Attorney General Maura Healey’s office to ensure there are no abuses being perpetrated against homeowners while the COVID-19 state of emergency is ongoing,” noted O’Donnell.

Additionally, for the past several years, the Norfolk County Registry of Deeds has partnered with Quincy Community Action Programs, 617-479-8181 x376, and NeighborWorks Housing Solutions, 508-587-0950 to help anyone facing challenges paying their mortgage. Another option for homeowners is to contact the Massachusetts Attorney General’s Consumer Advocacy and Response Division (CARD) at 617-727-8400. Register O’Donnell stated, “If you are having difficulty paying your monthly mortgage, please consider contacting one of these non-profit agencies for help and guidance.”

Homestead recordings by owners of homes and condominiums continue to occur at the Norfolk County Registry of Deeds in February.    There was a 17% increase in homestead recordings in February 2021 compared to February 2020.  “A Homestead,” noted O’Donnell, “provides limited protection against the forced sale of an individual’s primary residence to satisfy unsecured debt up to $500,000.  It is great to see folks protecting the biggest asset most of us have, our homes.  I would urge anyone who has not availed themselves of this important consumer protection tool to consider doing so.  Please visit the Registry website at www.norfolkdeeds.org  to get more information on homestead protection.”

In conclusion, Register O’Donnell stated, “Many small businesses and specific sectors of our economy, such as restaurant and hospitality, have been negatively impacted by the ongoing COVID-19 pandemic. One sector that has continued to thrive during the pandemic is the real estate market, particularly the residential market. There have been many factors that have kept the Norfolk County real estate market viable. Motivated buyers and sellers, low interest rates, and the Norfolk County Registry of Deeds remaining open for the recording of land documents. While the Registry of Deeds building in Dedham remains closed to the general public, we at the Registry remain open operationally to serve our customers, the residents of Norfolk County and real estate professionals alike. By listening to public health officials, practicing social distancing, making sure all staff are wearing masks and taking any and all other steps necessary, the Registry of Deeds has remained open for business. Land documents are being recorded electronically for many of our institutional users. We are also receiving documents via regular mail, Federal Express and from those placed in our drop-off box located just outside our main entrance at 649 High Street, Dedham, MA. As your Norfolk County Register of Deeds, I want to thank all of you for the cooperation, patience and understanding you have shown myself and the Registry staff while this pandemic has been ongoing. Be healthy. Be safe.”

To learn more about these and other Registry of Deeds events and initiatives, like us at facebook.com/NorfolkDeeds or follow us on twitter.com/NorfolkDeeds and Instagram.com/NorfolkDeeds.

The Norfolk County Registry of Deeds is located at 649 High Street in Dedham.  The Registry is a resource for homeowners, title examiners, mortgage lenders, municipalities and others with a need for secure, accurate, accessible land record information.  All land record research information can be found on the Registry’s website www.norfolkdeeds.org.  Residents in need of assistance can contact the Registry of Deeds Customer Service Center via telephone at (781) 461-6101, or email us at registerodonnell@norfolkdeeds.org.

 

Register O’Donnell Reports Increased Real Estate Numbers in Norfolk County

Register O’Donnell Reports Increased Real Estate Numbers in Norfolk County

Despite continuing challenges brought on by the COVID-19 pandemic, Register of Deeds William P. O’Donnell reported increased numbers in many real estate categories during the month of January, 2021.

“The Norfolk County real estate market” noted Register O’Donnell, “has continued to be busy.  Historically, January as one of the winter months does not see as much real estate activity.  However, there were 15,494 documents recorded at the Norfolk County Registry of Deeds which is a 36% increase over last year’s January document volume.  There were 1,285 deeds recorded out of this document volume, representing a 2% increase over January of last year.  Average sale price, again including both residential and commercial sales, increased 6% over 2019 to $951,679.85.  The real estate numbers are robust especially considering that last year’s January real estate numbers were prior to the onset of COVID-19 and the COVID-19 emergency declarations.”

In addition to real estate sales, the Norfolk County lending market has been busy in January.  There were 4,189 mortgages recorded during the month which is a 75% increase over 2019.  Total amount of money borrowed for mortgages county wide was over 1.8 billon, a 42% increase compared to January 2019.  “While some of the mortgages are due to purchases and sales of real estate, there are a large number of individuals and families taking advantage off historically low interest rates by refinancing existing mortgages.  Individuals have different motivations to refinance.  Some refinance to reduce their monthly payments, others to take some years off their debt while still others are using the money to pay for home improvements and other capital expenditures” said Register O’Donnell.  

Register O’Donnell went on to state, “There has been a strong demand for housing, single family housing particular, coupled with a limited supply of available housing stock and historically low interest rates which could be motivating buyers to do what is necessary to secure housing.  Lending activity was up.  The growth in numbers seen in 2020 continues into 2021.  However, there are expectations that for 2021 many of the numbers may not be as expansive as what took place in 2020.”

Register O’Donnell Reports Increased Real Estate Numbers in Norfolk County

The Norfolk County Registry of Deeds has been closely watching the foreclosure market.  A moratorium on foreclosures in place during the pandemic in 2020 was lifted on October 17, 2020.  This moratorium was in place due to the COVID-19 pandemic.  O’Donnell stated, “During January of 2021 there was only 1 foreclosure deed recorded as a result of foreclosure processes taking place in Norfolk County.  Additionally, there were 7 Notices to Foreclosure Mortgages, the first step in the foreclosure process, recorded here in Norfolk County.  A foreclosure recording is very impactful on those being foreclosed on.  These numbers are extremely low especially when you consider in January of 2019 pre-COVID here were 46 Notices to Foreclosure Mortgages and 15 foreclosure Deeds.  The foreclosure numbers in the future bear watching given the negative economic impacts of COVID-19.”

“The Norfolk County Registry of Deeds has also been working in close cooperation with Attorney General Maura Healey’s office to ensure there are no abuses being perpetrated against homeowners while the COVID-19 state of emergency is ongoing,” noted O’Donnell.

Additionally, for the past several years, the Norfolk County Registry of Deeds has partnered with Quincy Community Action Programs, 617-479-8181 x376, and NeighborWorks Housing Solutions, 508-587-0950 to help anyone facing challenges paying their mortgage. Another option for homeowners is to contact the Massachusetts Attorney General’s Consumer Advocacy and Response Division (CARD) at 617-727-8400. Register O’Donnell stated, “If you are having difficulty paying your monthly mortgage, please consider contacting one of these non-profit agencies for help and guidance.”

Homestead recordings by owners of homes and condominiums continue to occur at the Norfolk County Registry of Deeds in January.  “A Homestead,” noted O’Donnell, “provides limited protection against the forced sale of an individual’s primary residence to satisfy unsecured debt up to $500,000. I would urge anyone who has not availed themselves of this important consumer protection tool to consider doing so.  Please visit the Registry website at www.norfolkdeeds.org  to get more information on homestead protection.”

In conclusion, Register O’Donnell stated, “Many small businesses and specific sectors of our economy, such as restaurant and hospitality, have been negatively impacted by the ongoing COVID-19 pandemic. One sector that has continued to thrive during the pandemic is the real estate market, particularly the residential market. There have been many factors that have kept the Norfolk County real estate market viable. Motivated buyers and sellers, low interest rates, and the Norfolk County Registry of Deeds remaining open for the recording of land documents. While the Registry of Deeds building in Dedham remains closed to the general public, we at the Registry remain open operationally to serve our customers, the residents of Norfolk County and real estate professionals alike. By listening to public health officials, practicing social distancing, making sure all staff are wearing masks and taking any and all other steps necessary, the Registry of Deeds has remained open for business. Land documents are being recorded electronically for many of our institutional users. We are also receiving documents via regular mail, Federal Express and from those placed in our drop-off box located just outside our main entrance at 649 High Street, Dedham, MA. As your Norfolk County Register of Deeds, I want to thank all of you for the cooperation, patience and understanding you have shown myself and the Registry staff while this pandemic has been ongoing. Be healthy. Be safe.”

To learn more about these and other Registry of Deeds events and initiatives, like us at facebook.com/NorfolkDeeds or follow us on twitter.com/NorfolkDeeds and Instagram.com/NorfolkDeeds.

The Norfolk County Registry of Deeds is located at 649 High Street in Dedham.  The Registry is a resource for homeowners, title examiners, mortgage lenders, municipalities and others with a need for secure, accurate, accessible land record information.  All land record research information can be found on the Registry’s website www.norfolkdeeds.org.  Residents in need of assistance can contact the Registry of Deeds Customer Service Center via telephone at (781) 461-6101, or email us at registerodonnell@norfolkdeeds.org.

 

Boston Globe: "private companies can make a killing, legally, if you can’t keep up with your property taxes"

"On Nov. 11, Mark Mucciaccio answered the door at his home in Easton to a woman who said she had been sent by the property’s “owner” to change the locks on the doors.

The woman handed him a “to whom it may concern” letter that said the house, which Mucciaccio, 58, and his brother, Neil, 55, inherited from their late parents many years ago, was now owned by a company called Tallage Lincoln LLC.

The three-sentence letter cited a “final” court judgment giving the company ownership, but said nothing about taxes. Still, Mucciaccio had no doubt it came as a result of the thousands of dollars he owed in property taxes, dating back to 2016."

Continue reading the article online (subscription may be required)

https://www.bostonglobe.com/2021/01/18/business/mass-private-companies-can-make-killing-legally-if-you-cant-keep-up-with-your-property-taxes/

Register O’Donnell Reports Solid Real Estate Performance for 2020 Despite COVID-19

While the COVID-19 pandemic caused personal and economic upheaval in the lives of one and all, Register of Deeds William P. O’Donnell reports the Norfolk County real estate market remained viable and strong throughout the 2020 calendar year.

“By remaining open for the recording of land documents while the COVID-19 pandemic has been ongoing,” noted Register O’Donnell, “the Norfolk County real estate market was able to remain viable in 2020. Coupled with low interest rates and motivated buyers and sellers, the 2020 Norfolk County real estate market produced solid results across the board, in particular strong lending numbers.”

O’Donnell stated, “During 2020, a total of 18,413 residential and commercial real estate sales transactions were recorded, no statistical change from 2019 but a solid result nonetheless. Total real estate dollar sales, again both residential and commercial, increased 12% to $10.3 billion. The average real estate sales transaction price, combining both residential and commercial sales, was $903,423, an increase of 12% from the previous year. The increases seen in housing prices, particularly residential housing, was a direct result of buyers competing for a limited number of available housing stock.”

Register O’Donnell noted there was a total of 179,260 land documents recorded at the Registry during 2020, a 19% increase compared to the previous year. “A primary cause of the land document recording increase in 2020 was a 54% increase in the number of mortgages, including mortgage refinances and home equity loans, recorded countywide. Specifically, a total of 45,669 mortgages were recorded during the year versus 29,740 recorded in 2019. Total mortgage financing increased 18% year over year coming in at $20.7 billion. This huge increase in mortgage recordings can be attributed to historically low mortgage interest rates seen during 2020,” noted the Register.

Calendar year 2020 saw Norfolk County property owners continue to avail themselves of the protections provided by the Homestead Act. A total of 12,487 Homesteads were recorded, no statistical change from 2019. Register O’Donnell reminded Norfolk County homeowners about the importance of having Homestead protection. “A Homestead provides limited protection against the forced sale of a homeowner’s primary residence to satisfy unsecured debt up to $500,000. For more information about the Homestead, please consult the Registry’s website www.norfolkdeeds.org.”

During 2020, the Norfolk County Registry of Deeds closely monitored the foreclosure market. From April 20, 2020 through October 17, 2020 a moratorium on foreclosure and evictions was in place throughout Massachusetts. 

Register O’Donnell noted, “The Norfolk County Registry of Deeds worked in close cooperation with Attorney General Maura Healey’s office to ensure there were no abuses being perpetrated against homeowners while the COVID-19 state of emergency foreclosure moratorium was taking place. With the moratorium on foreclosures concluded, we have begun to see a small number of foreclosure deeds and notice to foreclose mortgages, the first step in the foreclosure process, cross our desks here at the Registry. We at the Registry of Deeds are very sensitive to the plight of those facing challenges paying their mortgage payments. Some of our neighbors are facing choices between paying for food and paying for housing. As we have throughout my tenure, the Norfolk County Registry of Deeds continues to partner with Quincy Community Action Programs, 617-479-8181 x376, and NeighborWorks Housing Solutions, 508-587-0950 to help anyone facing challenges paying their mortgage. Another option for homeowners is to contact the Massachusetts Attorney General’s Consumer Advocacy and Response Division (CARD) at 617-727-8400. If you or someone you know is having difficulty paying the monthly mortgage payment, please consider contacting one of these non-profit agencies for help and guidance.”

Register O’Donnell concluded, “2020 was certainly a year of challenges. The COVID-19 pandemic tested all of us in many unique and profound ways. While all of us have been impacted on a personal level, some were more economically impacted than others. Many small businesses and sectors of our economy, such as restaurant and hospitality, were devastated by the pandemic. Fortunately, the Norfolk County real estate market was able to remain viable. By listening to public health officials, practicing social distancing, implementing split shifts during portions of the calendar year, utilizing our disaster recovery site, the Norfolk County Registry of Deeds was able to remain open for business to serve our customers, the residents of Norfolk County and real estate professionals alike. By continuing to record land documents here at the Registry, sellers and buyers of real estate were able to reap the benefits of real estate transactions. Deeds excise monies collected were forwarded to the state where they helped pay for critical programs at the state, county and local levels including health care, education and law enforcement. The COVID-19 pandemic continues. Some say the worst is yet to come. "

"Please know the Registry of Deeds will do all it can to remain open for business while ensuring the safety of our employees. While our office remains physically closed to the general public, the Registry of Deeds remains operational. The Registry staff continues to record documents electronically for our institutional users, and are accepting land documents via Federal Express and regular mail. There is also a drop-off box located just outside the main entrance to our building located at 649 High Street, Dedham, MA. As your Norfolk County Register of Deeds, I want to wish of you a happy and healthy 2021, how could it not be better, and thank each and every one of you for the cooperation, patience and understanding you have shown myself and my staff during this challenging year in all our lives. Be healthy. Be safe.”

To learn more about these and other Registry of Deeds events and initiatives, like us at Facebook.com/NorfolkDeeds or follow us on twitter.com/NorfolkDeeds and/or Instagram.com/NorfolkDeeds.

The Norfolk County Registry of Deeds is located at 649 High Street in Dedham.  The Registry is a resource for homeowners, title examiners, mortgage lenders, municipalities and others with a need for secure, accurate, accessible land record information.  All land record research information can be found on the Registry’s website www.norfolkdeeds.org.  Residents in need of assistance can contact the Registry of Deeds Customer Service Center via telephone at (781) 461-6101, or email us at registerodonnell@norfolkdeeds.org.
 

Register O’Donnell Reports Solid Real Estate Performance for 2020 Despite COVID-19

 

Economic Development Subcommittee Meeting - Jan 13, 2021 - Business Listening & Networking Session #5

Economic Development Subcommittee Meeting

Agenda & Meeting Packet

January 13, 2021

6:30 PM 

Agenda:

1. Massachusetts Growth Capital Corporation (MGCC) Sector Specific Relief Grant Program Update.
https://www.empoweringsmallbusiness.org/covid-19-response/sector-specific-relief-grant-program-massachusetts-businesses

2. Business Listening & Networking Session #5: Real Estate, Construction, & Housing.
The members of the EDC will host the third in a series of five Business Listening & Networking Sessions on sectors of the Town’s economy. Anyone is invited to attend and offer public comments.

Agenda doc with connection info: 

https://www.franklinma.gov/sites/g/files/vyhlif591/f/agendas/2021-1-13_edc_listening_session_agenda_.pdf

Jan 13, 2021 - Business Listening & Networking Session #5

Franklin Tax Payers: A Notice from the Treasurer/Collector's Office

A Notice from the Treasurer/Collector's Office

Dear Taxpayer,

Recently you received a 3rd quarter actual real estate tax bill that incorrectly calculated one day of interest on the amount due. 

If you pay your taxes through your mortgage company you do not need to take any action.

If you have already paid your bill, that interest will be reflected as a credit on your 4th quarter actual real estate tax bill in May.

If you have not paid yet, please discard that bill. A corrected 3rd quarter tax bill is currently being mailed to and will arrive by next week.  

To accommodate for this inconvenience we have extended the due date to February 19, 2021 without any interest or penalties.

The online payment portal has the correct amount due.  All taxpayers and citizens can pay the correct amount online. 

We apologize for any inconvenience.

These bills can be paid in a variety of ways: 

• Drive through window
• The white drop box at the Municipal Building
• Online at https://unipaygold.unibank.com/customerinfo.aspx
• By Mail 
• In-Person at the Municipal Building with our friendly staff.  Our new public hours can be found here: https://www.franklinma.gov/home/news/new-public-hours-municipal-building

Shared from the Town of Franklin page  https://www.franklinma.gov/home/news/notice-treasurercollectors-office-0

Franklin Tax Payers: A Notice from the Treasurer/Collector's Office

Fiscal Year 2021 3rd Quarter Real Estate & Personal Property Tax Bills have been mailed

Fiscal Year 2021 3rd Quarter Real Estate & 

Personal Property Tax Bills have been mailed

Treasurer Collector, Kerri A. Bertone has mailed the Fiscal Year 2021 3rd Quarter Real Estate and Personal Property tax bills. 

The due date for these bills is February 1, 2021

Shared from the Town of Franklin
https://www.franklinma.gov/treasurer-collector/news/fiscal-year-2021-3rd-quarter-real-estate-personal-property-tax-bills-have

Fiscal Year 2021 3rd Quarter Real Estate & Personal Property Tax Bills have been mailed

FM #414 Talk Franklin - 12/11/20 (audio)

FM #414 = This is the Franklin Matters radio show, number 414 in the series. 

This session of the radio show shares my "Talk Franklin" conversation with Town Administrator Jamie Hellen and Marketing and Communications Specialist Anne Marie Tracey. We had our conversation via conference bridge to adhere to the ‘social distancing’ requirements of this pandemic period.

We talk about: 

Business listening session

• Holiday special edition
• #ThinkFranklinFirst gift cards

Water ban lifted (finally – due to rain, snow…)
 
Town Council

• New councilor
• CPA comes back
• Payment for treatment facility

COVID-19 reminder on social distance, masks, etc …

We’ll record a session of Talk Franklin each week leading to Christmas and take the holiday week off to begin again in 2021. After this session, we have one more to close out 2020.

Links to the key topics covered here are included in the show notes. The recording runs about 45 minutes, so let’s listen to my conversation with Jamie and Anne Marie.  Audio file = https://player.captivate.fm/episode/8cb9f089-78b3-477a-9670-daa14150728c

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#ThinkFranklinFirst gift cards  https://franklingiftcard.com/ 

Town Council meeting 12/09/20 agenda and docs
https://www.franklinmatters.org/2020/12/franklin-ma-town-council-agenda-dec-16.html 

Business Listening Session - Dec 9 - recap
https://www.franklinmatters.org/2020/12/edc-business-listening-session-3-recap.html 

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We are now producing this in collaboration with Franklin.TV and Franklin Public Radio (wfpr.fm) or 102.9 on the Franklin area radio dial. 

This podcast is my public service effort for Franklin but we can't do it alone. We can always use your help.

How can you help?

• If you can use the information that you find here, please tell your friends and neighbors

• If you don't like something here, please let me know

Through this feedback loop we can continue to make improvements. I thank you for listening.

For additional information, please visit Franklinmatters.org/

If you have questions or comments you can reach me directly at shersteve @ gmail dot com

The music for the intro and exit was provided by Michael Clark and the group "East of Shirley". The piece is titled "Ernesto, manana"  c. Michael Clark & Tintype Tunes, 2008 and used with their permission.

I hope you enjoy!

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You can also subscribe and listen to Franklin Matters audio on iTunes or your favorite podcast app; search in "podcasts" for "Franklin Matters"

FM #414 Talk Franklin - 12/11/20 (audio)

"Iconic Framingham hotel sells for $15M at auction"

Anyone traveling into Boston up i495 to i90 and east has likely seen on the return route, the castle like structure that is/was the Sheraton Tara Hotel.

"The famed Framingham Sheraton Hotel and Conference Center was sold for $15 million at auction Tuesday.

People’s United Bank, which owns the first mortgage on the property, was the winning bidder of the iconic 376-room hotel that is designed to look like a castle and is visible from Rte. 9 and the Mass Pike.

“It was a buy-back by the mortgager,” said Justin Manning, president of JJ Manning Auctioneers. “Nobody beat the lender.”

The facility could "possibly" remain a hotel or may be sold, said Manning."

Continue reading the article online (subscription may be required)

https://www.telegram.com/story/business/real-estate/2020/12/15/framingham-sheraton-sells-15-m-auction-could-possibly-remain-hotel/3909350001/

With this building being sold at half the assessed valuation, is it any wonder why the new hotel under construction off King St/Union St has halted their construction due to these economic conditions.

"Iconic Framingham hotel sells for $15M at auction"

Re-imagining post COVID-19: "Midtown Is Reeling. Should Its Offices Become Apartments?"

From the New York Times, an article of interest for Franklin:

"The pandemic is pummeling New York City’s commercial real estate industry, one of its main economic engines, threatening the future of the nation’s largest business districts as well as the city’s finances.

The damage caused by the emptying of office towers and the permanent closure of many stores is far more significant than many experts had predicted early in the crisis.

The powerful real estate industry is so concerned that the shifts in workplace culture caused by the outbreak will become long-lasting that it is promoting a striking proposal: to turn more than one million square feet of Manhattan office space into housing."

Continue reading the article online (subscription may be required)

https://www.nytimes.com/2020/12/11/nyregion/nyc-commercial-real-estate.html

   

Register O’Donnell Reports Increased Real Estate Sales and Lending Numbers in Norfolk County

Despite continuing difficulties imposed by the COVID-19 pandemic, Register of Deeds William P. O’Donnell reported Norfolk County experienced increased numbers in real estate sales and lending activity during the month of November 2020.

“The Norfolk County real estate market,” noted Register O’Donnell, “has been firing on all cylinders during the past several months and November was no exception. 1,669 properties, both residential and commercial, were sold in Norfolk County during November, a 13% increase year over year. Average sales price, again including both residential and commercial sales, increased 7% to $1,079,955. Total sales volume during November was $1.08 billion, a 25% increase compared to November 2019. These numbers are especially impressive considering the impact COVID-19 has had on all communities, not just in Norfolk County but across Massachusetts and the United States. What factors are fueling these strong sales numbers? It appears a perfect storm of strong demand for single family housing in particular, limited supply of available housing stock, and historically low interest rates are motivating buyers to do what is necessary to secure housing.”  

In addition to real estate sales, the Norfolk County lending market also had a strong month in November. 4,312 mortgages were recorded during the month, a 49% increase year over year. Total amount of money borrowed for mortgages countywide was $1.8 billion, a 2% increase compared to November 2019. “While some of the mortgages recorded reflect new sales, we are continuing to see a large number of individuals and families refinancing existing mortgages to take advantage of historically low interest rates so they can reduce monthly payments and in other cases pay for home improvements and other capital expenditures,” noted the Register. 

The Norfolk County Registry of Deeds has been closely watching the foreclosure market. Since October 17th, there is no longer a moratorium on foreclosures and evictions. This moratorium was previously in place due to the COVID-19 state of emergency. O’Donnell stated, “During November, the Registry recorded 3 foreclosure deeds. Additionally, there were 9 Notice to Foreclose Mortgages, the first step in the foreclosure process, recorded here in Norfolk County. While a foreclosure recording is catastrophic to those it impacts, the low volume of foreclosure recordings appears to reflect lenders being sensitive to the plight of some of their customers who are in dire straits due to the economic impact of the COVID-19 pandemic. Please know we at the Registry are also sympathetic to those facing a housing crisis through no fault of their own.” 

“The Norfolk County Registry of Deeds has also been working in close cooperation with Attorney General Maura Healey’s office to ensure there are no abuses being perpetrated against homeowners while the COVID-19 state of emergency is ongoing,” noted O’Donnell. 

Additionally, for the past several years, the Norfolk County Registry of Deeds has partnered with Quincy Community Action Programs, 617-479-8181 x376, and NeighborWorks Housing Solutions, 508-587-0950 to help anyone facing challenges paying their mortgage. Another option for homeowners is to contact the Massachusetts Attorney General’s Consumer Advocacy and Response Division (CARD) at 617-727-8400. Register O’Donnell stated, “If you are having difficulty paying your monthly mortgage, please consider contacting one of these non-profit agencies for help and guidance.”

Homestead recordings increased 8% during November. “A Homestead,” noted O’Donnell, “provides limited protection against the forced sale of an individual’s primary residence to satisfy unsecured debt up to $500,000. I would urge anyone who has not availed themselves of this important consumer protection tool to consider doing so.”

In conclusion, Register O’Donnell stated, “Many small businesses and specific sectors of our economy, such as restaurant and hospitality, have been negatively impacted by the ongoing COVID-19 pandemic. One sector that has continued to thrive during the pandemic is the real estate market, particularly the residential market. There have been many factors that have kept the Norfolk County real estate market viable. Motivated buyers and sellers, low interest rates, and the Norfolk County Registry of Deeds remaining open for the recording of land documents. While the Registry of Deeds building in Dedham remains closed to the general public, we at the Registry remain open operationally to serve our customers, the residents of Norfolk County and real estate professionals alike. By listening to public health officials, practicing social distancing, making sure all staff are wearing masks and taking any and all other steps necessary, the Registry of Deeds has remained open for business. Land documents are being recorded electronically for many of our institutional users. We are also receiving documents via regular mail, Federal Express and from those placed in our drop-off box located just outside our main entrance at 649 High Street, Dedham, MA. As your Norfolk County Register of Deeds, I want to thank all of you for the cooperation, patience and understanding you have shown myself and the Registry staff while this pandemic has been ongoing. Be healthy. Be safe.”

To learn more about these and other Registry of Deeds events and initiatives, like us at facebook.com/NorfolkDeeds or follow us on twitter.com/NorfolkDeeds and Instagram.com/NorfolkDeeds.

The Norfolk County Registry of Deeds is located at 649 High Street in Dedham.  The Registry is a resource for homeowners, title examiners, mortgage lenders, municipalities and others with a need for secure, accurate, accessible land record information.  All land record research information can be found on the Registry’s website www.norfolkdeeds.org.  Residents in need of assistance can contact the Registry of Deeds Customer Service Center via telephone at (781) 461-6101, or email us at registerodonnell@norfolkdeeds.org.

Register O’Donnell Reports Increased Real Estate Sales and Lending Numbers in Norfolk County

Register O’Donnell Sees Sales Numbers Increase in Norfolk County Real Estate Market

Despite the ongoing COVID-19 pandemic, Register of Deeds William P. O’Donnell reported Norfolk County experienced strong real estate sales and lending activity during the month of September 2020. 

Register O’Donnell stated, “The month of September saw Norfolk County real estate sales, both residential and commercial, increase 13% year over year. 1,697 real estate sales were recorded compared to 1,503 in September 2019. The average real estate sales price, again both residential and commercial, increased 10% to $865,235. Total sales volume for the month came in at $952 million. The main drivers of these numbers were low interest rates, a limited amount of available real estate causing prices to increase, in many cases over the original listing price, and homebuyers looking for increased housing space to accommodate working remotely.” 

As has been the case for the past several months, Norfolk County once again saw strong growth in mortgage lending during September. 4,639 mortgages were recorded during the month, a 64% increase compared to the previous year. The total amount of money borrowed during September was $1.8 billion. “These strong mortgage numbers,” noted O’Donnell, “are the direct result of low interest rates. All indications are these attractive mortgage rates will continue for the foreseeable future.” 

Notice to Foreclose Mortgages, the first step in the foreclosure process, have been curtailed due to a moratorium placed on foreclosures and evictions while the COVID-19 pandemic state of emergency has been ongoing. The Registry of Deeds is watching closely to see if this moratorium will be lifted as scheduled by Governor Baker in mid-October. 

“The Norfolk Registry of Deeds,” stated O’Donnell, “has been working in close cooperation with Attorney General Maura Healey’s office monitoring protections afforded to homeowners affected by the COVID-19 state of emergency through Chapter 65 of the Acts of 2020, Act Providing for a Moratorium on Evictions and Foreclosures During the COVID-19 Emergency as well as protections put in place by the Coronavirus Aid, Relief, and Economic Security Act, Pub L. 116-136, (the “CARES Act”). We are very sensitive to how this pandemic has caused upheaval in people’s lives and in some cases caused issues with homeowners paying their monthly mortgage payment.”

“I am pleased to report that during my tenure as Norfolk County Register of Deeds, my office has been proactive in partnering with Quincy Community Action Programs, 617-479-8181 x376, and NeighborWorks Housing Solutions, 508-587-0950 to help those facing challenges paying their mortgage. These non-profit agencies are equipped to provide help and guidance to anyone struggling to pay their mortgage. In addition, the Massachusetts Attorney General’s Consumer Advocacy and Response Division (CARD), 617-727-8400 is also available to provide assistance.” 

Homestead recordings increased 15% during the month of September. “I want to remind Norfolk County residents that a Homestead provides limited protection against the forced sale of a homeowner’s primary residence to satisfy unsecured debt up to $500,000. I urge all Norfolk County homeowners to avail themselves of this important consumer protection tool,” noted the Register.

Concluding his remarks, Register O’Donnell stated, “The COVID-19 pandemic has caused many to experience significant changes in their lives. This is reflected in what we are seeing for recordings at the Registry of Deeds and what we are hearing from real estate professionals working with buyers and sellers in Norfolk County. Many working men and women are now working remotely. This has caused some to leave urban areas and buy in suburbs and rural communities like we have in Norfolk County. We are hearing that many young professionals are looking for more space in their homes needed for home offices due to work being done remotely. A limited supply of available housing stock has resulted in a heightened amount of competition between buyers resulting in higher real estate sales prices in Norfolk County. We are also hearing from real estate brokers that many houses are selling for above the original listing price. Robust sales and lending figures were seen in September. There is evidence that the Fall will see continuing strong performance in real estate activity.” 

“What we have also seen over these past few weeks and months is that COVID-19 does not discriminate. Anyone, even the most powerful man in the free world, can be affected. Until there is a viable vaccine in place, all of us need to continue practicing social distancing, wear a mask, and take all necessary steps to reduce the spread of the coronavirus. We need to keep in mind not only our own health but the health of our family, neighbors and friends. Together, we will get through this. Be healthy. Be safe.”

To learn more about these and other Registry of Deeds events and initiatives, like us at facebook.com/NorfolkDeeds or follow us on twitter.com/NorfolkDeeds and Instagram.com/NorfolkDeeds.

The Norfolk County Registry of Deeds is located at 649 High Street in Dedham.  The Registry is a resource for homeowners, title examiners, mortgage lenders, municipalities and others with a need for secure, accurate, accessible land record information.  All land record research information can be found on the Registry’s website www.norfolkdeeds.org.  Residents in need of assistance can contact the Registry of Deeds Customer Service Center via telephone at (781) 461-6101, or email us at registerodonnell@norfolkdeeds.org.

 

Register O’Donnell Sees Sales Numbers Increase in Norfolk County Real Estate Market

Warren Reynolds: "Demand Far Outstrips Supply In Franklin, MA Real Estate"

Realtor Warren Reynolds has a short video on the real estate market in Franklin. The amount of homes for sale has dropped sharply. The number of homes sold this year is also lower (as a result) than previous years.

"Looking at the year-to-date home sales figures for Franklin, MA as of mid-September, you’d be justified in thinking that the local real estate market is having a very bad year.

Single family home sales in Franklin, Massachusetts have fallen off a cliff so far in 2020. Sales volume is down 24% compared to 2019. The number of homes sold year-to-date is just about at the lows of the 2009 – 2011 Great Recession."

Continue reading Warren's article, to view the charts he mentions in the video

https://02038.com/2020/09/demand-far-outstrips-supply-in-franklin-ma-real-estate/

The video link =   https://youtu.be/LZRmnzjN0HM

Housing is a key factor of life here in Franklin. The demographic study by the School Dept forecast declining enrollment and that was based upon annual home sales of 275. You hear Warren say we have only 167 year to date. We are not in the range to maintain our population, never mind try and grow the population.

The Davis Thayer Facility study resumes this week (Weds, Sep 30). We should be able to find out the latest on the population and facility analysis.

https://www.franklinmatters.org/2020/09/facilities-analysis-sub-committee.html

 

Register O’Donnell Discusses How to Record a Land Document

Norfolk County Register of Deeds William P. O’Donnell today reminded residents that even in the midst of the COVID-19 pandemic, the Registry process to record land documents is designed to make it as easy and seamless as possible. “Whether the document in question is a deed, mortgage, homestead, mortgage discharge or any other type of land document, Registry staff have been trained to record the documents in as expeditious and accurate a manner as possible,” noted O’Donnell.

Register O’Donnell further noted, “As the depository of over 8 million land documents, there are certain basic steps that need to be followed when submitting a land document for recording. First and foremost, the document needs to be associated with one of the twenty-eight communities comprising Norfolk County. In addition, the document must be an original; we will not record photo copies or documents submitted via fax. Please note in many cases, land documents require signatures be notarized before they are recorded.” 

“It should also be noted that the Registry does not draft land documents. The Registry of Deeds is in the business of recording land documents only. If an individual is unsure if a drafted land document, particularly a deed, is in proper order, it may be prudent to have a lawyer familiar with real estate law review the document for its accuracy. A simple mistake on a deed for example could lead to a major problem.”  

Another important point to note is that there are various fees set by the Commonwealth of Massachusetts associated with the recording of land documents at the Registry. Recording fees vary depending on the specific land document type. The Registry’s website, www.norfolkdeeds.org has a fee schedule that can be consulted for specific recording fee amounts. The Registry accepts checks made out to the Norfolk County Registry of Deeds. The Registry also accepts cash payment.   

“Once you have a land document ready for recording and know the fee and type of payment,” stated O’Donnell, “you can then choose how to actually get the document delivered to the Norfolk County Registry of Deeds. Due to the COVID-19 pandemic, the Registry of Deeds building is currently closed to all members of the general public and real estate professionals alike. The options to get an original document and payment to the Registry of Deeds for recording are via regular mail, Federal Express, or placing the document and payment in a drop-off box located just outside the main entrance to our building located at 649 High Street, Dedham, MA.”

’Donnell concluded by stating, “Our trained recording staff is more than happy to record your land documents. Land documents are recorded in an expeditious manner once they arrive here at the Registry. It should also be noted that institutional users such as lending institutions and law firms have the additional option to submit documents electronically via our two e-file vendors, Simplifile and ePN. Finally, if you have any questions about land documents in general, please call our Customer Service Center at 781-461-6101, Monday through Friday between the hours of 8:30AM-4:30PM.” 

To learn more about these and other Registry of Deeds events and initiatives like us at facebook.com/NorfolkDeeds or follow us on twitter.com/NorfolkDeeds and instagram.com/NorfolkDeeds.

The Norfolk County Registry of Deeds is located at 649 High Street in Dedham.  The Registry is a resource for homeowners, title examiners, mortgage lenders, municipalities and others with a need for secure, accurate, accessible land record information.  All land record research information can be found on the Registry’s website www.norfolkdeeds.org.  Residents in need of assistance can contact the Registry of Deeds Customer Service Center via telephone at (781) 461-6101, or email us at registerodonnell@norfolkdeeds.org.

 

Register O’Donnell Discusses How to Record a Land Document

COVID-19 and the Norfolk County Real Estate Market

Since March 10th when Governor Baker declared a state of emergency to combat the COVID-19 pandemic, most of us have experienced some sort of personal or economic upheaval. We do live in extraordinary times. Despite all this upheaval and uncertainty, Register of Deeds William P. O’Donnell today reports one area of our economy has remained viable, the Norfolk County real estate market.

Register O’Donnell stated, “The COVID-19 state of emergency ordered by Governor Baker recently passed the six-month timeframe. Since the beginning of the pandemic, I am proud to report the Norfolk County Registry of Deeds has remained open for the recording of land documents. While the Registry of Deeds building remains closed to the general public, Registry personnel have been able to continue recording land documents. At the beginning of the pandemic, we utilized social distancing, split work shifts, remote access, and use of our disaster recovery site to record documents. With the lifting of some restrictions by Governor Baker, continued practice of social distancing and taking all other necessary steps to ensure the safety of our employees, more of our personnel are now working out of our main building in Dedham. Throughout the pandemic, we have also utilized electronic recording for our institutional users such as banks, law firms and title companies. In addition to electronic recording, users have also had the option to submit documents via regular mail, Federal Express or placing documents in our drop-off box located just outside our main entrance at 649 High Street, Dedham, MA.”

Since March 10th when the state of emergency was declared through September 10th, the Norfolk County Registry of Deeds recorded 87,379 land documents, a 14% increase compared to the same timeframe in 2019. Most of this increase can be attributed to a spike in mortgage recordings. Specifically, 23,607 mortgages were recorded, a significant 57% increase. The total mortgage indebtedness dollar amount of these mortgages was $10 billion. From March 10th through September 10th, 8,910 properties, residential and commercial, were sold in the county, a 9% decrease year over year. However, the average sales price actually increased 4% to $833,279.  Total sales volume, again both residential and commercial, for the six-month period was $4.7 billion.

“These sales figures,” noted the Register, “are actually encouraging considering the economic upheaval in general and specifically the high unemployment rate seen in Massachusetts during the pandemic. Many real estate observers are reporting buyers, particularly millennials, leaving the city for the suburbs. Low interest rates are also a factor in many considering buying single family homes. Additionally, many are now working remotely from home and as a result can live farther away from their place of business. A factor in the increased average sales price has been the reduced amount of available housing inventory resulting in this being a seller’s market with prospective buyers competing for limited housing stock. Real estate brokers and agents have reported in some cases this intense competition has actually driven real estate sales prices over the original asking price.”

“The increase seen in mortgage recordings has been a direct result of historically low interest rates. Many of these mortgages are refinancing existing mortgages to reduce term, lessen monthly payments or pay for a home improvement or higher education expense,” stated the Register.

During the March 10th through September 10th period, the number of foreclosure deeds recorded fell 30%. Notice to Foreclose Mortgages, the first step in the foreclosure process, have been curtailed due to a moratorium placed on foreclosures and evictions while the COVID-19 pandemic state of emergency has been ongoing. The Norfolk Registry of Deeds has been working with Attorney General Maura Healey’s office in monitoring protections afforded to homeowners affected by the COVID-19 state of emergency through Chapter 65 of the Acts of 2020, Act Providing for a Moratorium on Evictions and Foreclosures During the COVID-19 Emergency as well as protections put in place by the Coronavirus Aid, Relief, and Economic Security Act, Pub L. 116-136, (the “CARES Act”).

“One area that needs special attention once the COVID-19 state of emergency has been lifted,” noted Register O’Donnell, “is foreclosure activity not only in Norfolk County but throughout Massachusetts. As a result of the economic upheaval seen during the pandemic, many of our neighbors have lost their jobs impacting their ability to pay their monthly mortgage payments.”

“As Register of Deeds, I have been proud to partner with Quincy Community Action Programs, 617-479-8181 x376, and NeighborWorks Housing Solutions, 508-587-0950. These non-profit agencies can help anyone facing challenges with the paying of their mortgage. In addition, the Massachusetts Attorney General’s Consumer Advocacy and Response Division (CARD), 617-727-8400 can also help. All of these programs are staffed by knowledgeable professionals who provide assistance to those struggling to pay their mortgages.”

Homestead recordings fell 9% during the March 10th through September 10th timeframe. “A Homestead,” noted O’Donnell, “provides limited protection against the forced sale of a homeowner’s primary residence to satisfy unsecured debt up to $500,000. I urge all Norfolk County homeowners to avail themselves of this important consumer protection tool.”

Concluding his remarks, Register O’Donnell stated, “The last six months have been difficult for individuals, families, employers and employees alike. Despite all the hardship, I am proud of my office’s efforts to keep the Norfolk County Registry of Deeds open for business. The results of these efforts have been a viable Norfolk County real estate market benefiting sellers and buyers of real estate, lending institutions, the real estate legal community and all others with a vested interest in the local real estate economy. By keeping the Norfolk County Registry of Deeds open, recording fees collected have been forwarded to the state and county helping to pay for important public initiatives including education, health care, and police and fire expenses. We are so thankful to our partners in the real estate community and most importantly the citizens of Norfolk County. Their patience with us has been critical to the Registry of Deeds being able to continue its core mission of recording land documents in a safe and secure environment.”

“Unfortunately, we are not done with this pandemic. Please continue to practice social distancing, wear a mask, and take all necessary steps to reduce the spread of the coronavirus. Together, we will get through this. Be healthy. Be safe.”

To learn more about these and other Registry of Deeds events and initiatives, like us at facebook.com/NorfolkDeeds or follow us on twitter.com/NorfolkDeeds and Instagram.com/NorfolkDeeds.

The Norfolk County Registry of Deeds is located at 649 High Street in Dedham.  The Registry is a resource for homeowners, title examiners, mortgage lenders, municipalities and others with a need for secure, accurate, accessible land record information.  All land record research information can be found on the Registry’s website www.norfolkdeeds.org.  Residents in need of assistance can contact the Registry of Deeds Customer Service Center via telephone at (781) 461-6101, or email us at registerodonnell@norfolkdeeds.org.