Register O’Donnell Discloses Norfolk County’s Most Expensive Real Estate Sales in first six months of 2022

Norfolk County Register of Deeds William P. O’Donnell reported that between January 1 and June 30 in 2022, ten properties, all commercial, sold for more than $50,000,000.

The ten properties were:

 

1. 96-114 Worcester Street, Wellesley, the Sun-Life Assurance office park sold in June for $202,000,000;
2. 100 Rustcraft Road, Dedham, a 421,924 square foot office and warehouse complex adjacent to Legacy Place, sold in July for $134,100,000;
3. 160 Mechanic Street, Bellingham, a 345,000 square foot, newly renovated distribution center, sold in April for $96,700,000;
4. 95 West Squantum Street, Quincy, a twelve-story apartment building known as “Gamma North Quincy”, sold in April for $90,000,000;
5. 1000 Marriott Drive, Quincy, the “Marriott Boston Quincy Hotel”, sold in March for $82,200,000;
6. 135 Old Post Road, Sharon, a 192 unit apartment building known as “The Point in Sharon”, sold in January for $74,500,000;
7. 235 Gould Street, Needham, a senior and assisted living facility known as the “Wingate Residences at Needham”  sold in January for $73,848,192;
8. 300 Financial Park Drive, Franklin, a 300,000 square foot warehouse/distribution facility, sold in April for $73,600,000;
9. 130-150 Nahatan Street, Norwood, a 108,981 square foot retail complex known as “Norwood Plaza”, sold in May for $57,749,000; and
10. 1440 Beacon Street, Brookline, a 136 unit apartment complex located near Coolidge Corner, sold in February for $52,900,000.  

 

“Despite a slowdown in the residential real estate sector, the Norfolk County commercial real estate market remains vibrant”, noted Register O’Donnell. “It appears that the top sales consisted primarily of a mixed bag of residential apartments, retail space, industrial and warehouse space and distribution facilities. This activity bodes well for the Norfolk County economy in terms of employment and tax revenue. These ten sales generated over $4.2 million in excise taxes for the state and county. We hope 2022 continues in a positive trend”.

To learn more about the  Registry of Deeds, 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 Discloses Norfolk County’s Most Expensive Real Estate Sales in first six months of 2022

Register O’Donnell Reports on Last 12 Months of Norfolk County Real Estate Activity - FY 2022

Norfolk County Register of Deeds William P. O’Donnell reported that the numbers relative to Norfolk County real estate activity for fiscal year 2022, from July 1, 2021 through June 30, 2022, show a decrease in activity compared to the 2021 numbers but reflect a continued increase in the average sale price of Norfolk County properties.

“The 2021 Norfolk County real estate market was down from 2021 in a number of respects.” noted Register O’Donnell, “For the fiscal year ending June 30, there were 162,148 documents recorded at the Norfolk County Registry of Deeds, a 22% decrease from fiscal year 2021. The number of deeds which evidence real estate sales and transfers, both commercial and residential, decreased by 7% in fiscal 2022. However, the average sale price was $1,212,925, a substantial 26% increase compared to 2021. Total dollar volume of commercial and residential sales also showed solid gains, increasing 18% to well over $14 billion,” noted the Register. “The lack of inventory and the need for new construction continues to push up prices. There are more buyers and not enough inventory. Market conditions and rising interest rates are impacting real estate activity”

Overall lending activity decreased in FY 2022. A total of 33,861 mortgages were recorded during the year, a 36% decrease compared to FY 2021. “There’s no question that interest rate increases and the fact that many consumers have already refinanced are impacting these numbers,” noted O’Donnell. “The increase in mortgage interest rates have made consumers less inclined to borrow money.”

One concerning metric for 2022 in Norfolk County relates to foreclosures.  The Norfolk County Registry of Deeds has been closely tracking foreclosure activity. There were 66 foreclosure deeds recorded in Norfolk County in the last fiscal year, an increase of 65% from the same period a year ago when there were 40 foreclosure deeds recorded.  Of even greater concern is the fact that there were 199 Notices to Foreclosure Mortgages, the first step in the foreclosure process, recorded in Norfolk County in FY 2022, up substantially from 92 Notices recorded in FY 2021. “We are reminded that some of our neighbors continue to face financial challenges”, said O’Donnell.  “We will continue to monitor these numbers.”

 

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 in FY 2022 at the Norfolk County Registry of Deeds.   There was an 8% decrease in homestead recordings in 2021 compared to 2020.  “The comparison from the prior fiscal year is not too surprising where the sales of homes have started to decrease”, noted O’Donnell, “but all homeowners, not just new purchasers, should understand that a recorded Declaration Homestead provides some 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, “Without question fiscal 2022 was a mixed bag for real estate activity in Norfolk County.  However, available real estate inventory continues to be a source of concern in Norfolk County. It’s especially a problem for first-time homebuyers attempting to crack the market. The Registry of Deeds continues to be open to the public for business. The drop-off box located at the main entrance of the Registry Building will continue to be available for use by those members of the public who may not be comfortable entering the Registry of Deeds building The volume of documents recorded electronically for many of our institutional users continues to increase.. We are also receiving documents in person, via regular mail, Federal Express, UPS and from our drop-off box located just outside our main entrance at 649 High Street, Dedham, MA.” 

Attached is a link to a “Good Deeds” episode discussing the 2022 Norfolk County real estate statistics and other issues relating to the Registry of Deeds:

https://www.youtube.com/watch?v=SFkY5Jp7c4Y

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 on  Last 12 Months of Norfolk County Real Estate Activity - FY 2022

Register O’Donnell Delivers 2022 Second Quarter Real Estate Activity Report

Norfolk County Register of Deeds William P. O’Donnell reported that second quarter (April-June 2022) Norfolk County real estate statistics shows a continued uptick in residential and commercial sales and sale prices, despite overall numbers trending downward. 

Register O’Donnell noted, “During the recently concluded second quarter of the 2022 calendar year, the average Norfolk County real estate sales price, both residential and commercial, increased 30% to $1,300,157. Total real estate volume, again both residential and commercial, was $4.09 billion, a 16% increase year over the same period in 2022.”

Register O’Donnell further stated, “The lack of inventory and new construction continue to push prices up. It remains to be seen if this trend continues as overall activity is slowing considerably.”

For the second quarter of 2022, the number of land documents recorded, (such as deeds, mortgages, homesteads, mortgage discharges, etc.) was 35,744, a 31% decline from the second quarter of 2021. Register O’Donnell noted, “This figure tells us while there is still a healthy real estate market, market conditions and rising interest rates are starting to have an impact. We are not seeing the volume we saw in 2020 and 2021.”

There were 6,809 mortgages recorded at the Registry during the second quarter of the calendar year 2022 compared to 12,041 for the same time period in 2021, a 43% decrease. Total mortgage borrowing was $5.06 billion for April through June compared to $6.63 billion during the same period in 2021. “With the increase in interest rates, consumers seem to be less inclined to borrow”, noted the Register.

Norfolk County homeowners continued to benefit from the Homestead Act. A total of 3,315 declarations of homestead were recorded during the second quarter of the calendar year, a 10% decrease over the same period a year ago. “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.

A sharp increase in foreclosure activity in Norfolk County remains a cause for concern. Sixteen foreclosure deeds were recorded in the second quarter, the same number recorded during the second quarter of 2021. However, there was a significant increase in the number of recorded Notices to Foreclose, the first step in the foreclosure process. There were 66 Notices recorded in the second quarter versus 33 recorded in the same period of 2021.

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 may have received a Notice to Foreclose 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, “The economy, particularly the employment numbers in eastern Massachusetts, appears to be strong but, going forward, inflation, rising interest rates and the lack of inventory will likely result in a slowdown of the Norfolk County real estate market.”

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 2022 Second Quarter Real Estate Activity Report

Register O’Donnell Reports on May 2022 Real Estate Activity in Norfolk County (activity continues decline, $$ continue to increase)

Norfolk County Register of Deeds William P. O’Donnell reported that the May 2022 numbers relative to Norfolk County recordings indicate a continuing decrease in overall real estate activity compared to the May 2021 numbers but show a significant increase in average sale prices.

“Our data indicates that the Norfolk County real estate numbers in May signal a continued slowdown in the market compared to 2021 but show a slight uptick from last month,” noted Register O’Donnell. “There were 11,556 documents recorded at the Norfolk County Registry of Deeds in May, a 29% decrease from May, 2021 but an increase of 3% from April, 2022”.

“The number of deeds for May 2022, which reflect real estate sales and transfers, both commercial and residential, show a slight decrease of 3% from May, 2021 but an increase of 25% from April 2022. Sale prices continue to surge as compared to last year but may be starting to level off. The average sale price in May was $1,264,350, a 26% increase compared to May 2021 but down 18% from last month. Total dollar volume of commercial and residential sales also showed gains from one year ago, increasing 22% and up 3% from last month,” noted the Register.

Overall lending activity show a continued trend downward for the month of May. A total of 2,283 mortgages were recorded during the month, a significant decrease of 40% compared to a year ago. “It appears that the interest rate increases by the Federal Reserve Board and the fact that many consumers have already refinanced are impacting mortgage activity,” noted O’Donnell.

A continuing cause for concern in Norfolk County is the number of pending foreclosures. The Norfolk County Registry of Deeds has been closely watching the foreclosure market. During May, there were 5 foreclosure deeds recorded as a result of mortgage foreclosures taking place in Norfolk County, one more than in May, 2021 and one less than in April.  However, there were 21 Notices to Foreclose, the first step in the foreclosure process, recorded in May, up significantly from 14 recorded in May 2021. “The dramatic increase in the number of these notices is alarming. It indicates that more of our neighbors are facing financial challenges going forward”, said O’Donnell.  “We will continue to monitor these numbers.”
 
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 again this month at the Norfolk Registry of Deeds.   There was a 8% decrease in homestead recordings in May 2022 compared to May 2021 but increased 16% from last month. “The comparison from last May is not too surprising where the sales of homes have started to level off, but all homeowners, not just new purchasers, should keep in mind that a recorded Declaration of Homestead provides limited protection against the forced sale of an individual’s primary residence to satisfy unsecured debt up to $500,000,” noted O’Donnell. “We want 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.  The recording fee is only $36. Feel free to visit the Registry website at www.norfolkdeeds.org  to get more information on homesteads and to make sure you have taken advantage of this protection.”
 
Register O’Donnell concluded, “May real estate activity in Norfolk County continues to show a decline from last year. We still see the increase in sale prices from last year as indicating a continuing lack of available real estate inventory but looking at the numbers from last month, it appears the market may be starting to cool down a bit.”

The Registry of Deeds continues to be open to the public for business. Registry personnel are processing in-person recordings as well as electronically filed recordings.  The drop-off box located at the main entrance of the Registry building will continue to be available for use by those members of the public who may not be comfortable entering the Registry of Deeds building The volume of documents recorded electronically for many of our institutional users continues to increase. We are also receiving documents in person, via regular mail, Federal Express, UPS and from the outside drop-off box 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.

May 2022 Real Estate Activity in Norfolk County (activity continues decline, $$ continue to increase)

Register O’Donnell Reports on April 2022 Real Estate Activity in Norfolk County

Norfolk County Register of Deeds William P. O’Donnell reported that the April numbers relative to Norfolk County show a continuing decrease in real estate activity compared to April 2021 and even compared to the March 2022 numbers.

 “Our data indicates that the Norfolk County real estate numbers in April indicate a continued slowdown in the market compared to 2021 and, except for a slight increase in sales, when compared to the overall numbers from last month,”, noted Register O’Donnell. “There were 11,179 documents recorded at the Norfolk County Registry of Deeds in April, a 37% decrease from April, 2021 and a decrease of 10% from March of 2022”.

“The number of deeds for April 2022, which reflect real estate sales and transfers both commercial and residential, decreased by 16% from April, 2021 but did increase by 3% from March. However, sale prices continue to surge. The average sale price in April was $1,534,065, a 32% increase compared to April 2021. Total dollar volume of commercial and residential sales also showed gains from one year ago, increasing 11% and surprisingly are up 41% from last month,” noted the Register. 

Overall lending activity show a continued trend downward for the month of April. A total of 2,210 mortgages were recorded during the month, a significant decrease of 48% compared to a year ago and down 8% from last month. “It appears that interest rate increases and the fact that many consumers have already refinanced may be impacting the numbers,” noted O’Donnell. 

A continuing cause for concern in Norfolk County is the number of pending foreclosures. The Norfolk County Registry of Deeds has been closely watching the foreclosure market. During April, there were 4 foreclosure deeds recorded as a result of mortgage foreclosures taking place in Norfolk County, two less than in April, 2021 and one less than in March.  However, there were 22 Notices to Foreclose, the first step in the foreclosure process, recorded in April, up significantly from 4 recorded in April 2021, and up from 11 recorded last month. “The dramatic increase in the number of these notices is alarming. It indicates that more of our neighbors are facing financial challenges going forward”, said O’Donnell.  “We will continue to monitor these numbers.”

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 again this month at the Norfolk Registry of Deeds.   There was a 13% decrease in homestead recordings in April 2022 compared to April 2021 but a slight increase from last month. “The comparison from last April is not too surprising where the sales of homes have started to level off, but all homeowners, not just new purchasers, should keep in mind that a recorded Declaration of Homestead provides limited protection against the forced sale of an individual’s primary residence to satisfy unsecured debt up to $500,000,” noted O’Donnell. “We want 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.  The recording fee is only $36. Feel free to visit the Registry website at www.norfolkdeeds.org  to get more information on homesteads and to make sure you have taken advantage of this protection.

Register O’Donnell concluded, “April real estate activity in Norfolk County continues to show a decline from last year. We still see the increase in sale prices as indicating a lack of available real estate inventory which for buyers, particularly first time buyers, suggests a disadvantage.”

The Registry of Deeds continues to be open to the public for business. Registry personnel are processing in-person recordings as well as electronically filed recordings.  The drop-off box located at the main entrance of the Registry building will continue to be available for use by those members of the public who may not be comfortable entering the Registry of Deeds building The volume of documents recorded electronically for many of our institutional users continues to increase. We are also receiving documents in person, via regular mail, Federal Express, UPS and from the outside drop-off box 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 on April 2022 Real Estate Activity in Norfolk County

Register O’Donnell Delivers 2022 First Quarter Real Estate Activity Report

Norfolk County Register of Deeds William P. O’Donnell reported that first quarter (January-March 2022) real estate stats showed an uptick in residential and commercial sales and sale prices, while overall numbers indicate a downturn. 

Register O’Donnell noted, “During the recently concluded first quarter of the 2022 calendar year, the average Norfolk County real estate sales price, both residential and commercial, increased 38% to $1,261,0181. Total real estate volume, again both residential and commercial, was $2.56 billion, a 53% increase year over the same period in 2021.”

Register O’Donnell further stated, “The lack of inventory and new construction have continue to push prices up. It remains to be seen if this trend continues as overall activity is starting to slow.”

For the first quarter of 2022, the number of land documents recorded, (such as deeds, mortgages, homesteads, mortgage discharges, etc.) was 34,315, a 33% decline from the first quarter of 2021. Register O’Donnell noted, “This figure tells us there is still a healthy real estate market, however we are not seeing the volume we saw in 2020 and 2021.”

There were 6,664 mortgages recorded at the Registry during the first quarter of the calendar year 2022 compared to 14,001 for the same time period in 2021, a 52% decrease. However, total mortgage borrowing was $7.5 billion for January through March compared to $5.7 billion during the same period in 2021. “With the increase in interest rates, consumers seem to be less inclined to borrow. The discrepancy between the decrease in the number of mortgages and the increase in the amount of mortgage indebtedness is due in part to some substantial mortgage loans on a few commercial properties”, stated the Register.

Norfolk County homeowners continued to benefit from the Homestead Act. A total of 2,378 declarations of homestead were recorded during the first half of the calendar year, a 12% decrease over the same period a year ago. “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.

A sharp increase in foreclosure activity in Norfolk County is a cause for concern. A total of 20 foreclosure deeds were recorded in the first quarter versus only 6 filed during the first quarter of 2021. In addition, there was a significant 81% increase 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, “The economy, particularly the job market in eastern Massachusetts, appears to be improving but inflation, rising interest rates and the lack of inventory may result in a slower real estate market going forward.”

Attached is a link to a Quincy QATV “Good Deeds” episode with host Mark Crosby and Register O’Donnell discussing the 2022 Norfolk County real estate statistics and other issues relating to the Registry of Deeds:

            To visit click here or copy the URL link below:       

https://www.qatv.org/GoodDeeds?modal=413,episode,201742

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 2022 First Quarter Real Estate Activity Report

Reminder: Home Selling (and Buying) Seminar with Industry Experts - Apr 14

Come hear from local experts, and gain insight as well as useful tips, on how to sell your home (or buy a home) in the current market.

Enjoy a light dinner and some incredible beer, while learning about Selling (and Buying) a home in the current real estate market.

Local Experts to include:

• Ted Cormier- Leger, Realtor with Suburban Lifestyle Real Estate in Franklin, MA
• Bob Melone, Loan Officer with Radius Financial Group
• Stacy Norrell, Real Estate Attorney with Sharaf & Maloney, PC

Date and time

• Thu, April 14, 2022
• 6:00 PM – 8:00 PM EDT

Location

67 Degrees Brewing

158 Grove Street

Franklin, MA 02038

To register (free) -> https://www.eventbrite.com/e/home-selling-and-buying-seminar-with-industry-experts-registration-308895563947 

Home Selling (and Buying) Seminar with Industry Experts - Apr 14

Register O’Donnell Reports on March 2022 Real Estate Activity in Norfolk County

Norfolk County Register of Deeds William P. O’Donnell reported that the March numbers relative to Norfolk County real estate activity decreased as compared to March 2021 but showed an increase over February’s numbers.

“Our data indicates that the Norfolk County real estate market in March slowed when compared to March 2021 but has rebounded somewhat when compared to the February numbers”, noted Register O’Donnell. “There were 12,402 documents recorded at the Norfolk County Registry of Deeds in March, a 38% decrease from March, 2021 but an increase of 21% from last month.

“The number of deeds for March 2022, which reflect real estate sales and transfers both commercial and residential, decreased by 8% from March 2021 but increased by 58% from February. Sale prices continue to increase compared to last year but now appear to be leveling off. The average sale price in March  was $1,122,863, a 23% increase compared to March 2021 but down 8% from February. Total dollar volume of commercial and residential sales also showed gains from one year ago, increasing 13% and surprisingly are up 46% from February,” noted the Register. “The March number compared to February may be skewed somewhat by a small number of high priced commercial transactions. Four separate sales of commercial properties together totaling over $200 million dollars were recorded in March. It remains to be seen if this trend continues into the second quarter.”

Overall lending activity showed a decrease again for the month of March. A total of 2,399 mortgages were recorded during the month, a 56% decrease compared to a year ago but up 24% from last month. “It appears that many consumers have already refinanced given the past low interest rate environment, although the mortgage activity is starting to pick up from earlier this year, perhaps due to a concern about rates increasing,” noted O’Donnell.

A continuing cause for concern in Norfolk County is the number of foreclosures. The Norfolk County Registry of Deeds has been closely watching the foreclosure market. During March, there were 5 foreclosure deeds recorded as a result of mortgage foreclosures taking place in Norfolk County, one more than in March, 2021.  However, there were 11 Notices to Foreclose, the first step in the foreclosure process, recorded in March, down from 16 recorded in March 2021, and down from 27 recorded last month. “These numbers remind us that some of our neighbors are still facing financial challenges”, said O’Donnell.  “We will continue to monitor these numbers.”

 

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 month at the Norfolk Registry of Deeds.   There was a 17% decrease in homestead recordings in March 2022 compared to March 2021 but an increase of 39% from February. “The comparison from last March is not too surprising where the sales of homes have started to level off, but all homeowners, not just new purchasers, should keep in mind that a recorded Declaration of Homestead provides limited protection against the forced sale of an individual’s primary residence to satisfy unsecured debt up to $500,000,” noted O’Donnell. “We want 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.  The recording fee is only $36. Feel free to visit the Registry website at www.norfolkdeeds.org  to get more information on homesteads and to make sure you have taken advantage of this protection.”

 

Register O’Donnell concluded, “March real estate activity in Norfolk County continues to show a decline from last year but looks like it’s beginning to pick up as we head into the second quarter. We still see available real estate inventory as a source of concern in Norfolk County but clearly, the market is not as hot as last year. Whether this translates into more and better opportunities for buyers, particularly first time buyers, remains to be seen.”

The Registry of Deeds continues to be open to the public for business. Registry personnel are processing in-person recordings while vigilantly maintaining Covid related protocols.  The drop-off box located at the main entrance of the Registry Building will continue to be available for use by those members of the public who may not be comfortable entering the Registry of Deeds Building The volume of documents recorded electronically for many of our institutional users continues to increase.. We are also receiving documents in person, via regular mail, Federal Express, UPS and from 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.

March 2022 Real Estate Activity in Norfolk County

Home Selling (and Buying) Seminar with Industry Experts - Apr 14

Come hear from local experts, and gain insight as well as useful tips, on how to sell your home (or buy a home) in the current market.

Enjoy a light dinner and some incredible beer, while learning about Selling (and Buying) a home in the current real estate market.

Local Experts to include:

• Ted Cormier- Leger, Realtor with Suburban Lifestyle Real Estate in Franklin, MA
• Bob Melone, Loan Officer with Radius Financial Group
• Stacy Norrell, Real Estate Attorney with Sharaf & Maloney, PC

Date and time

• Thu, April 14, 2022
• 6:00 PM – 8:00 PM EDT

Location

67 Degrees Brewing

158 Grove Street

Franklin, MA 02038

To register (free) -> https://www.eventbrite.com/e/home-selling-and-buying-seminar-with-industry-experts-registration-308895563947 

Home Selling (and Buying) Seminar with Industry Experts - Apr 14

Register O’Donnell Discloses the Most Expensive Real Estate Sales in Norfolk County in 2021

Norfolk County Register of Deeds William P. O’Donnell reported that in 2021, seventeen properties, all commercial, sold for more than $50,000,000.

The top ten, most expensive properties were:

 

1. 190 Mediterranean Drive, Weymouth, a 418 unit apartment complex known as “Weymouth Commons” sold in November for $151,925,000;
2. 115-129 Dean Avenue, Franklin, a 23 acre parcel slated to be developed into a 250 unit apartment complex, sold in December for $129,125,000;
3. 2 Hancock Street, Quincy, a 280 unit, 12 story apartment building known as “Neponset Landing”, sold in December for $114,500,000;
4. 180-370 Providence Highway, known as the “Dedham Mall” with 510,000 square feet of retail space, sold in November for $108,154,573;
5. 1 Investors Way, Norwood, a 54 acre property with an office building adjacent to the Moderna property, slated to be developed into a bio-manufacturing facility, sold in April for $105,000,000;
6. 351-353 Maple Street, Bellingham, industrial property presently including two warehouses, one of which is now an Amazon delivery facility, sold in May for $93,350,000;
7. 155 King Street, Cohasset, a 226 unit apartment complex built in 2012 and known as the “Preserve at Cohasset”  sold in January for $90,250,000;
8. 100 Hilltop Drive, a 22 acre, 300 unit apartment complex built in 2004 and known as the “Preserve in Walpole”, sold in November for $$87,600,000;
9. 10 Faxon Avenue, Quincy, a 10 story, 200 unit apartment building built in 2006 and known as the “Amelia Apartments”, sold in July for $84,000,000; and
10. 625 Thomas Burgin Parkway, Quincy, a 180 unit apartment complex built in 2016 and  known as “Mill Creek Residences”, sold in February for $61,600,000.  

“Despite the pandemic, the Norfolk County commercial real estate market was one of the busiest in years”, noted Register O’Donnell. “It appears that the top sales consisted primarily of residential apartment complexes but the development of the three properties in Norwood, Bellingham and Franklin bodes well for the Norfolk County economy in terms of employment and tax revenue. The top ten sales generated over $4.6 million in excise taxes for the state and county. We hope 2022 continues in a positive trend”.

To learn more about the Registry of Deeds, 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 Discloses the Most Expensive Real Estate Sales  in Norfolk County in 2021

Register O’Donnell Reports on February 2022 Real Estate Activity in Norfolk County

Norfolk County Register of Deeds William P. O’Donnell reported that February’s numbers relative to Norfolk County real estate activity show a fairly sharp drop as compared to February 2021 and January’s numbers.

“Our data indicates that the Norfolk County real estate market in February was sluggish when compared not only to February 2021 but also to January”, noted Register O’Donnell. There were 10,291 documents recorded at the Norfolk County Registry of Deeds in February, a 34% decrease over last year’s February document volume and an 11% decrease from January.

“The number of deeds for February 2022, which reflect real estate sales and transfers both commercial and residential, decreased by 19% from February 2021 and by 32% from January. Sale prices increased significantly compared to last year but now appear to be leveling off. February’s average sales price was $1,218,942, an impressive 42% increase compared to February 2021 but down 15% from January. Total dollar volume of commercial and residential sales also showed gains from one year ago, increasing 14% but are down 42% from January,” noted the Register. “It remains to be seen if this trend continues into March.”

Overall lending activity showed a decrease again for the month of February. A total of 1,940 mortgages were recorded during the month, a 56% decrease compared to a year ago and a decrease of 17% from January. “It appears that many consumers have already refinanced given the past low interest rate environment,” noted O’Donnell.

A continuing cause for concern in Norfolk County, however, is the increase in foreclosures. The Norfolk County Registry of Deeds has been closely watching the foreclosure market. During February, there were 8 foreclosure deeds recorded as a result of mortgage foreclosures taking place in Norfolk County.  In addition, there were 27 Notices to Foreclose, the first step in the foreclosure process, recorded in February, up from 18 recorded in January.  In February 2021 there was only 1 Foreclosure Deed and 6 Notices to Foreclosure Mortgages filed. “The sharp increase in these numbers remind us that even more of our neighbors are now facing financial challenges”, said O’Donnell.  “We will continue to monitor these numbers.”

 

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 month at the Norfolk County Registry of Deeds.   There was a 17% decrease in homestead recordings in February 2022 compared to February 2021 and a decrease of 20% from January. “These figures are not too surprising where the sales of homes has decreased, but all homeowners, not just new purchasers, should keep in mind that a recorded Declaration of Homestead provides limited protection against the forced sale of an individual’s primary residence to satisfy unsecured debt up to $500,000,” noted O’Donnell. “We want 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.  The recording fee is only $36. Feel free to visit the Registry website at www.norfolkdeeds.org  to get more information on homesteads and to make sure you have taken advantage of this protection.”

 

Register O’Donnell concluded, “February real estate activity showed a decline in Norfolk County which is not unusual for this time of year however, there has been a drop in numbers in 2022 over 2021. We still see available real estate inventory as continuing to be a source of concern in Norfolk County but it does appear that the market is not as hot as last year. Whether this translates into more and better opportunities for buyers, particularly first time buyers, remains to be seen.”

The Registry of Deeds continues to be open to the public for business. The drop-off box located at the main entrance of the Registry Building will continue to be available for use by those members of the public who may not be comfortable entering the Registry of Deeds Building. The volume of documents recorded electronically for many of our institutional users continues to increase. We are also receiving documents in person, via regular mail, Federal Express, UPS and from 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 on  February 2022 Real Estate Activity in Norfolk County