Urgent: Public Disclosure of the new FY 2022 Real and Personal Property Valuations - PENDING PRELIMINARY CERTIFICATION

Public Disclosure of the new FY 2022 Real and Personal Property Valuations - PENDING PRELIMINARY CERTIFICATION

Please see the following notice from the Board of Assessors:

The Town of Franklin has completed a revaluation as required by the Department of Revenue and has received permission to disclose the proposed values pending preliminary certification from the DOR.  The Fiscal Year 2022 values are based on the value of property as of January 1, 2021 and were developed analyzing Calendar Year 2020 sales and also income and expense information received for apartment, commercial and industrial properties.  The analysis by the Assessors' Department indicates that over the prior year assessments, single family properties increased in value by about 8%, residential condominiums increased by about 7%, residential vacant land stayed about the same overall, apartments increased by about 22%, commercial property increased by about 11% and industrial property increased by about 10%.

These are preliminary statistical averages.  Some properties increased in value, some properties remained essentially the same in value and some properties decreased in value.  Some properties have a substantial increase in value due to additions and/or renovations to the property or due to corrections in the property data descriptions resulting from a review, a re-measure and/or a re-inspection in the course of our town-wide cyclical review and revaluation programs.

From November 17, 2021 to November 23, 2021 real and personal property values are available for review at the Franklin Municipal Building during normal business hours from 8 AM to 4 PM on Monday, Tuesday and Thursday, 8 AM to 6 PM on Wednesday, and 8 AM to 1 PM on Friday.  A listing alphabetically by street address is available.  Real property values by Location, Owner or Parcel ID are available on the Town's website at www.franklinma.gov under Departments, then Board of Assessors and then select FY 2022 Proposed Real Estate Assessments.

Any taxpayer who is concerned with the accuracy of the valuation of their property should contact the staff at the Assessors' Office at the Franklin Municipal Building (508) 520-4920. Remember in accordance with Massachusetts General Law that these assessed values represent property values as of January 1, 2021 based primarily on Calendar Year 2020 actual market data and not the current or any projected future property market indicators.

At the end of the public disclosure period, we will request final certification of the FY 2022 revaluation assessment program from the Massachusetts Department of Revenue. Please note that this is pending Preliminary Certification from.

Shared from ->  https://www.franklinma.gov/sites/g/files/vyhlif6896/f/alerts/franklin_fiscal_year_2022_public_disclosure_-_press_release.11.16.2021.docx.pdf

Visit the Town of Franklin Assessors page to inquire on your property ->  http://franklin.patriotproperties.com/default.asp?br=exp&vr=6

Urgent: Public Disclosure of the new FY 2022 Real and Personal Property Valuations

FY 2022 second quarter Real Estate and Personal Property tax bill payment due by November 1, 2021

FY 2022 second quarter Real Estate and Personal Property tax bill payment due by November 1, 2021

Payments received after the due date are charged 14% interest.

Treasurer Collector Kerri A. Bertone has mailed the Fiscal 2022 second quarter Real Estate and Personal Property tax bills.  Payment is due by November 1, 2021.  Payments received after the due date are charged 14% interest.

Shared from the Town of Franklin page  ->  https://www.franklinma.gov/home/news/fy-2022-second-quarter-real-estate-and-personal-property-tax-bill-payment-due-november-1

FY 2022 second quarter Real Estate and Personal Property tax bill

Register O'Donnell Reports Steady Real Estate Activity in Norfolk County

Register of Deeds William P. O'Donnell reported the Norfolk County real estate market more than held its own during the month of August 2021.  He also reports a continued strong showing in sales highlighted Norfolk County real estate market activity for the month of August.    

Register O'Donnell stated, "The Norfolk County real estate market continues to be steady.  There were 16,282 documents recorded at the Norfolk County Registry of Deeds which is a 1% increase over last year's August document volume.  There were 1,999 deeds recorded out of this document volume, representing a 7% increase over August of last year.  Average sale price, again including both residential and commercial sales, increased 3% over 2020 to $903,842.69." 

Even though there was a considerable increase to the monies for mortgages the number of mortgages recorded decreased over the previous year's numbers.  There were 3,665 mortgages recorded during the month which is an 11% decrease over 2020.  Total amount of money borrowed for mortgages county wide was well over 3 billon, a 62% increase compared to August 2020.  "While some of the mortgages are due to purchases and sales of real estate, other mortgages are due to 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.  The growth in some real estate indicators seen in 2020 continues into 2021."

One continuing cause for concern, however in Norfolk County, was foreclosures.   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 August of 2021 there were 6 foreclosure deeds recorded as a result of foreclosure processes taking place in Norfolk County.  Additionally, there were 15 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.  August of 2020 there were no Notices to Foreclosure Mortgages and 5 foreclosure Deeds.  "These numbers remind us that some of our neighbors continue to face financial challenges", said O'Donnell.  "We will continue to monitor these numbers."

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 decreased this year at the Norfolk County Registry of Deeds in August.    There was a 2% decrease in homestead recordings in August 2021 compared to August 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."

Register O'Donnell concluded, "Available real estate inventory continues to be a constant source of concern in Norfolk County. It's especially been a problem for first-time homebuyers attempting to crack the market. However, there is a silver lining in the August real estate statistics and that is based on the optimistic lending numbers that we've seen. These figures are very encouraging and tell us competitive interest rates and a robust eastern Massachusetts economy are having a positive effect on the Norfolk County region.  The Registry of Deeds was operational every work day during the pandemic.  "

"The Registry of Deeds continues to be open to the public for business, however that is being evaluated as the COVID-19 developments unfold.  The drop-off box located outside the main entrance of the Registry Building for the time being will continue to be available for use by those members of the public who may not be comfortable in entering the Registry of Deeds Building.  Land documents are being recorded electronically for many of our institutional users. We are also receiving documents in person, 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."   

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 Steady Real Estate Activity in Norfolk County

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 July in 2021 from a real estate perspective remained hot as there were 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 steady.  There were 16,623 documents recorded at the Norfolk County Registry of Deeds which is a 1% increase over last year’s July document volume.  There were 2,061 deeds recorded out of this document volume, representing a 16% increase over July of last year.  Average sale price, again including both residential and commercial sales, increased 21% over 2020 to $1,013,839.90. 
 
Even though there was a considerable increase to the monies for mortgages the number of mortgages recorded decreased over the previous year’s numbers.  There were 3,443 mortgages recorded during the month which is an 17% decrease over 2020.  Total amount of money borrowed for mortgages county wide was well over 2 billon, a 61% increase compared to July 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.  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 July of 2021 there were 5 foreclosure deeds recorded as a result of foreclosure processes taking place in Norfolk County.  Additionally, there were 5 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.  July of 2020 there were no Notices to Foreclosure Mortgages and 2 foreclosure Deeds.  Though it is great to see that the Foreclosure deed numbers have decreased, it is troubling to see the Notices of Foreclosure have increased so much.  We will continue to monitor these numbers.”
 
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 July.    There was a 7% increase in homestead recordings in July 2021 compared to July 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.”
 
Register O’Donnell concluded, “Available real estate inventory continues to be a constant source of concern in Norfolk County. It’s especially been a problem for first-time homebuyers attempting to crack the market. However, there is a silver lining in the July real estate statistics and that is based on the optimistic lending numbers that we’ve seen. These figures are very encouraging and tell us reduced interest rates and a robust eastern Massachusetts economy are having a positive effect on the Norfolk County region.  The Registry of Deeds was operational every work day during the pandemic.  The Registry of Deeds continues to be open for business, however that is being evaluated as the COVID-19 developments unfold.  The drop-off box located outside the main entrance of the Registry Building for the time being will continue to be available for use by those members of the public who may not be comfortable in entering the Registry of Deeds Building.  Land documents are being recorded electronically for many of our institutional users. We are also receiving documents in person, 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.”   
 
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 O’Donnell Delivers First Half of Year 2021 Real Estate Activity Report

Norfolk County Register of Deeds William P. O’Donnell reported that first half (January-June 2021) real estate stats showed a major increase in residential and commercial sales, while mortgage lending numbers experienced an uptick as well. 

Register O’Donnell noted, “The recently concluded first half of the calendar year, the average Norfolk County real estate sales price, both residential and commercial, increased 17% to $968,018.79. Total real estate volume, again both residential and commercial, was $5.5 billion, a 53% increase year over year.”

Register O’Donnell further stated, “The first half of the calendar year figures also show an overall 32% increase in the number of properties sold countywide from 7,502 to 9,889 for the same quarter of 2020.  This is a strong growth from last year.”

For the first half of 2021, the number of land documents recorded, (such as deeds, mortgages, Homesteads, mortgage discharges, etc.) was 103,023, a 37% gain from the previous year. Register O’Donnell noted, “This robust figure tells us there is a healthy real estate market.  I also greatly appreciate the efforts of the dedicated Registry of Deeds staff to process this document volume.”

One more piece of good news was the 26,042 mortgages recorded at the Registry during the first half of the calendar year 2021 compared to 19,019 for the same time period in 2020.  This is a thirty-seven percent (37%) increase in the first half of 2021 over the same period in 2020. Total mortgage borrowing was $12.3 billion for the first half of the year compared to $8.9 billion during the first half of 2020. “With the reduction in interest rates, consumers seem to be more comfortable borrowing money,” stated the Register.

Norfolk County homeowners continued to benefit from the Homestead Act. A total of 6,425 Homesteads were recorded during the first half of the calendar year, a 29% increase year over year. “The Homestead law provides limited protection against the forced sale of an individual’s primary residence to satisfy unsecured debt up to $500,000. I urge Norfolk County residents to consider this important consumer protection tool,” noted O’Donnell.

Foreclosure activity in Norfolk County continued to show signs of improvement. A total of 22 foreclosure deeds were recorded versus 69 filed during the first half of 2020. In addition, there was a significant 59% drop in the number of Notice to Foreclose Mortgage recordings, the first step in the foreclosure process.

O’Donnell stated, “While the eastern Massachusetts economy remains on a solid footing, there are still those in Norfolk County experiencing economic hardship, in many cases through no fault of their own. The Registry continues to work with Quincy Community Action Programs, (617-479-8181 x376), and NeighborWorks Housing Solutions, (508-587-0950) to help homeowners who have received a Notice to Foreclose Mortgage document. A third option is to contact the Massachusetts Attorney General’s Consumer Advocacy and Response Division (CARD) at 617-727-8400.”

Register O’Donnell concluded, “A continuing strong economy in eastern Massachusetts and the possibility of further stable real estate market should bode well for the overall real estate market going forward.”

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 Delivers First Half of Year 2021 Real Estate Activity Report

02038.com: "Home Prices Skyrocket In 2021"

"The median sale price of homes in Franklin, MA rose an extraordinary 27% in the first half of 2021, compared to 2020’s first-half median. That’s over a $120K increase in just one year!

At $585,000, the median sale price of single-family homes in Franklin, Massachusetts currently stands 19% above its prior all-time high of $489,900, set back in 2018.

It was a similar story for the overall real estate in Massachusetts: the median home sale price in the Bay State jumped 21% in the first half of the year."

Continue reading the update from Warren Reynolds
https://02038.com/2021/07/home-prices-skyrocket-in-2021/ 

02038.com: "Home Prices Skyrocket In 2021"

Fiscal Year 2022 First Quarter Real Estate and Personal Property Tax Bills

Treasurer Collector, Kerri Bertone has mailed the Fiscal 2022 first quarter real estate and personal property tax bills.  

Payments are due by August 2, 2021.  

Payments received after the due date are charged 14% interest.

Shared from the Town of Franklin page

https://www.franklinma.gov/home/news/fiscal-year-2022-first-quarter-real-estate-and-personal-property-tax-bills

Fiscal Year 2022 First Quarter Real Estate and Personal Property Tax Bills

Franklin Annual Report - 2020: Board of Assessors

ANNUAL REPORT OF THE BOARD OF ASSESSORS

Interim Revaluation
The interim revaluation of all real and personal property in the Town of Franklin was completed Fall 2019 in preparation for Actual Fiscal Year 2020 3rd quarter tax bills. Following is a brief review of that achievement.

Data Collection
Eighteen years have now passed since we installed the real estate valuation and assessment administration software developed by Patriot Properties, Inc. Because our start-up data was from a different form of valuation system and most of our data had not been refreshed in nearly ten years, it was necessary to complete a town- wide data recollection program prior to finalizing the FY 2005 valuations. Patriot Properties was hired for this task. Over the past 15 years, our appraisal staff has performed the on-going property exterior measuring and interior inspecting for all real estate classes. Such reviews are done for the Department of Revenue (DOR) required cyclical program, as well as for building permitted changes, pre-appraisal, abatement and sales verifications.

Field Review
In addition to individual property on-site review, field reviews are required periodically to check for obvious data accuracy and consistency. This drive-by review provides another level of assurance that when valuation schedules are applied, the results will be “Fair and Equitable”.

Commercial/Industrial/Apartment Valuations 

Annually there are analyses of sales data as well as income & expense market data. The Board contracted Patriot to work with our Director to establish an income approach to value for each property. All requirements of the Massachusetts Department of Revenue were met through final approval of the FY 2020 valuations.

Sales Analysis
The majority of the sales analysis was completed by September 2019, and the interpretation of sales continued through the next two stages of valuation. The town-wide program resulted in a valuation system that was applied uniformly throughout the town, while reflecting all the adjustments warranted individually and by neighborhood, to result in “Full and Fair Cash Values” as per Massachusetts General Law.

Value Generation
A system of valuation was established based on valid property sales and where applicable the income approach to value. These schedules
concluded from the market were then uniformly applied to all taxable and exempt real property.
 
Final Value Review
Final reviews were completed in preparation for the DOR review. These include studies of various computer- generated reports to check for value consistency, final field checks required, and for DOR documentation and its analyses.

DOR Review & Final Approval
Any on-site and statistical reviews by the DOR took place from April to September 2019. The appraisal staff provided files, generated property records, answered questions and addressed any concerns. At the conclusion of the DOR review, we were granted approval authorizing public disclosure.

Public Disclosure
The DOR approved valuations were available for disclosure to the property owners. While the administrative staff provided property record cards and general data reviews, the appraisers conducted informal hearings on valuations.

Personal Property
Business assets and those of utilities are reviewed for valuation as taxable Personal Property. For nineteen fiscal years we have engaged the specialized services of Real Estate Research Consultants (RRC) in the discovery and valuation of these accounts. These services have served us well, resulting in DOR approval and consistently defendable valuations. Also, considerable new growth has been certified annually. Additionally, the RRC Personal Property Software installed in our office has benefited us. The personal property valuation formulas are very straightforward, and the administrative capabilities have met our needs.

Classification Hearing & Tax Commitment
Following some discussion and a few presentations relative to single versus split tax rates, the Council approved a single tax rate at $14.51 per $1,000 of taxable value as calculated by the Board for all property classes. The tax commitment and mailing were timely for an actual 3rd quarter tax bill.

Abatement Reviews
Upon mailing of the tax bills and on or before the due date of the first actual bill, property owners have an opportunity to file an Abatement Application on the basis of overvaluation or misclassification. 60 abatements applications were filed of 11,681 taxable accounts, or just over 1/2 of 1%. Generally those with merit were resolved through our conducting a complete on-site exterior measuring and interior inspection. Usually a valuation discrepancy is the result of a data error or as a result of an inspection appointment not being arranged and thus the property data having been “estimated”.

Continue reading about the Board of Assessors

https://www.franklinma.gov/town-clerk/files/town-franklin-annual-report-2020

Prior Annual Reports can be found online

https://www.franklinma.gov/town-clerk/pages/annual-reports

Franklin Annual Report - 2020: Board of Assessors 

Register O'Donnell Promotes Registry of Deeds' Social Media

Register of Deeds William P. O’Donnell today reiterated the importance he places on the Registry’s use of social media platforms to communicate directly with the citizens of Norfolk County.

“At the Registry of Deeds,” noted O’Donnell, “we put a priority on communicating with Registry users. Just because our doors close at the end of the business day doesn’t mean the Registry has to stop working for you. For example, our website www.norfolkdeeds.org allows people to look up and view over 13 million scanned images with some 40 million pages of land documents dating back to the Registry’s beginnings in 1793. Additionally, users can access our website to learn about our latest consumer protection programs. I also want people to know that Registry information is accessible not just from workstations and laptops, but also from their smartphones and tablets.”

Register O’Donnell further noted that you can print out an application of the popular Homestead Act. A Homestead provides a homeowner with limited protection against the forced sale of their primary residence to satisfy unsecured debt up to $500,000.

Norfolk County residents can also sign-up on-line for its free Consumer Notification Service. This program will alert a person anytime a land document has been recorded against their name in Norfolk County. Additionally, there is valuable county real estate information that can be researched and tracked. Someone interested in the number of residential and commercial properties sold or the average prices of property sold can find that information.  

Besides the Registry website, other forms of social media utilized by the Registry of Deeds include Facebook, facebook.com/NorfolkDeeds and Twitter, twitter.com/NorfolkDeeds. “The Norfolk County Registry of Deeds,” noted the Register, “has utilized Facebook and Twitter to provide information to the general public. By utilizing these platforms, Norfolk County residents can learn more about home ownership and other consumer initiatives like protecting themselves against Deed Scam rip-offs, along with other outreach services, including learning about Registry office hours in their local community.”

The Registry has also filmed multiple public service announcements (PSA’s) which are available on the Registry’s website and YouTube. These PSA’s have touched on a variety of issues such as assistance for residents who have received a Notice to Foreclose Mortgage from a lender.

Concluding, Register O’Donnell stated, “At the Registry of Deeds, we recognize the value of using social media platforms to forward important information to Norfolk County residents. If you have questions related to real property, I urge you to take a look at our social media offerings. As important as these social media offerings are, the Registry of Deeds has a Customer Service Center at 1-781-461-6101 where members of the public can seek assistance.”

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 Promotes Registry of Deeds' Social Media

Register O’Donnell Reminds Homeowners of Need to File Mortgage Discharges with this Increased Real Estate Activity

The Norfolk Registry of Deeds even during this COVID-19 pandemic has been very busy recording land documents.  In calendar year 2020 there were over 179,000 documents recorded at the Norfolk Registry of Deeds which was a nineteen (19%) percent increase over the year before.  A sizeable portion of this document volume were the 45,669 mortgages recorded representing a fifty-four (54%) percent increase in calendar year 2020 over 2019. 

This growth has continued into calendar year 2021.  During the five-month period from January 1, 2021 to May 31, 2021 there were 85,046 documents recorded at the Norfolk Registry of Deeds which is a forty-four (44%) percent increase over the same time period in 2020.  A big part of this document volume was the 22,045 mortgages recorded.  This represents a forty-nine (49%) percent increase in filed mortgages in this five-month period in calendar year 2021 over the same period in 2020.
 
Given this huge increase in mortgage activity Register of Deeds William P. O’Donnell advises Norfolk County homeowners about the need to file a mortgage discharge after their mortgage has been paid off.
 
Register O’Donnell stated, “As consumers we all need to borrow money.  There are many reasons why consumers borrow money- to purchase a house, to make home improvements or to help pay for ever increasing tuition payments of our children.  The borrowing of money involving real estate leads to a mortgage being recorded against the title of that real estate.”
 
Register O’Donnell stated, “When a mortgage has been paid off, a mortgage discharge document needs to be recorded with the Registry of Deeds to clear a homeowner’s property title relative to that loan. This is particularly important in light of the thousands of homeowners who have been taking advantage of historically low interest rates to refinance their mortgages. It should be noted a discharge is a document (typically one-two pages) issued by the lender, usually with a title such as “Discharge of Mortgage” or “Satisfaction of Mortgage”.  During this busy period of refinancing your old mortgages are being paid off.  As a consumer you want to make sure a discharge has been recorded at the Registry of Deeds which tells the world that that mortgage has been paid off.”
 
“In some instances,” noted the Register, “mortgage discharges are filed directly by banks or settlement closing attorneys with the Registry as part of a property sale or as a result of a refinancing transaction. In other cases, the mortgage discharge is sent to the property owner who then becomes responsible for making sure the document is recorded. Whether or not the mortgage discharge is recorded by the lending institution or the individual property owner, it is imperative that the property owner makes sure all necessary documents have been recorded at the Registry of Deeds.”
 
“If you are looking to check your title and make sure all your mortgages have been properly discharged, Norfolk County homeowners can access the Registry’s online records at www.norfolkdeeds.org. By going to the Online Research section of our website, you can verify that all mortgages associated with the property have been discharged. Please remember not having a mortgage discharged will result in a title issue and thereby impact the process of selling one’s home,” noted O’Donnell. 
 
The Register further noted that there have been cases where no discharge has been recorded against a long paid off mortgage. “Unfortunately, some of the lending institutions that provided funds for these mortgages are no longer in existence. In other cases, financial entities have merged with another lending institution.”
 
If a property owner needs to retrieve an original discharge of a mortgage and is unclear which lending institution is now responsible for providing the document, an option is to contact the Massachusetts Division of Banks at 1-800-495-2265 x-1 and then x-61501. Another option is to access the Federal Deposit Insurance Corporation website www.fdic.gov. Then find the BankFind tab approximately half way down the home page, put in the lending institution in question, then click on the lending institution link and you will be able to determine who has responsibility for the mortgage. 
 
When recording a mortgage discharge, the original document is required. The Registry of Deeds by law cannot accept photo copies or faxed copies of documents. The filing fee, set by state statute, is $106.00.
 
In conclusion, Register O’Donnell stated, “After paying off all the mortgages on their property, homeowners want to know they have clear title to their property, especially if they are contemplating selling. Knowing what steps need to be taken to ensure all paid off mortgages have been properly discharged will go a long way in giving the homeowner assurances that they have clear title to their property. I cannot emphasize enough how important it is that homeowners make sure their mortgage discharge has been filed with the Registry of Deeds once their mortgage has been paid off.”
 
The Norfolk County Registry of Deeds is staffed with a team of customer service representatives who can be reached Monday through Friday, 8:30AM-4:30PM at 781-461-6101. These representatives have been trained in researching documents and are well versed on the subject of mortgage discharges and what, if necessary, needs to be done to clear title to a property.
 
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.

Reminds Homeowners of Need to File Mortgage Discharges

Register O’Donnell Reports Ongoing Positive Real Estate Activity for May 2021 in Norfolk County

While the weather in May was starting to get slightly warmer, so too was the Norfolk County real estate market, according to Register of Deeds William P. O’Donnell.

The Register noted that a noticeable uptick in both real estate sales and lending transactions happened last month. “Specifically, during the month of May, Norfolk County real estate sales, both residential and commercial, totaled 1,767, a healthy 48% increase year over year from 2020 to 2021.”

Register O’Donnell stated, “The Norfolk County real estate market continues to be strong.  There were 16,367 documents recorded at the Norfolk County Registry of Deeds in May which is a 30% increase over last year’s May document volume.  Average sale price, again including both residential and commercial sales, increased 2% over 2020 to $1,005,765.93.  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.  It is pleasing to see that the real estate market has been solid and steady.”
 
In addition to real estate sales, the Norfolk County lending market has been very busy in May.  There were 3,832 mortgages recorded during the month which is an 8% increase over 2020.  Total amount of money borrowed for mortgages county wide was almost 2 billon, a 41% increase compared to May 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 May of 2021 there were 6 foreclosure deeds recorded as a result of foreclosure processes taking place in Norfolk County.  Additionally, there were 14 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.  May of 2020 there were no Notices to Foreclosure Mortgages and 7 foreclosure Deeds.  Though it is great to see that the Foreclosure deed numbers have decreased, it is troubling to see the Notices of Foreclosure have increases so much.  We will continue to monitor these numbers.
 
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 May.    There was a 47% increase in homestead recordings in May 2021 compared to May 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 COVID-19 pandemic. One sector that 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. The Norfolk County Registry of Deeds greatly appreciates the patience and understanding shown during this trying period of time.  As society begins to reopen, restrictions are lifted and emergency COVID-19 orders expire the Norfolk County Registry of Deeds is open to the public for business.  

The drop-off box located outside the main entrance of the Registry Building for the time being will continue to be available for use by those members of the public who may not be comfortable in entering the Registry of Deeds Building.  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 again thank all of you for the cooperation, patience and understanding you have shown myself and the Registry staff during the COVID-19 pandemic.”
 
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.

 

Positive Real Estate Activity for May 2021 in Norfolk County

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.