There appears to be a slowing down in the real estate indicators tracked at Norfolk Registry of Deeds in September, 2021.  

 “In Norfolk County, there were 15,436 documents recorded at the Norfolk County Registry of Deeds, which is a 10% decrease over last year’s September document volume,” Register O’Donnell stated. “The numbrs of mortgages recorded dropped from 4,639 to 3,761, representing a 19% decrease County wide from last year’s September numbers.”

Although there were less mortgages recorded, the total amount of money borrowed for mortgages County wide was well over 3 billon, a 75% increase compared to September 2020.  

“While some of the mortgages are due to purchases and sales of real estate, other mortgages are due to refinancing existing mortgage,” Register O’Donnell said. “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 expenditure. 

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 communities of Norfolk County are desirable places to live which drives demand for housing. The number of deeds recorded in Norfolk County increased when September 2020 is compared to September 2021. There was an 8% increase in last months deed numbers with 1,833 deeds recorded compared to last year’s September deed number of 1,697.”

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 due to the COVID-19 pandemic. The Norfolk County Registry of Deeds has been closely watching the foreclosure market.  

“During September of 2021, there were 7 foreclosure deeds recorded as a result of foreclosure processes taking place in Norfolk County,” Register O’Donnell stated. “Additionally, there were 10 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. September of 2020, there was 1 Notice to Foreclosure Mortgages and 2 foreclosure Deeds. These numbers remind us that some of our neighbors continue to face financial challenges. 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. 

“If you are having difficulty paying your monthly mortgage, please consider contacting one of these non-profit agencies for help and guidance,” Register O’Donnell stated.

Homestead recordings by owners of homes and condominiums decreased this year at the Norfolk County Registry of Deeds in September. There was a 4% decrease in homestead recordings in September 2021, compared to September 2020. 

“A Homestead provides limited protection against the forced sale of an individual’s primary residence to satisfy unsecured debt up to $500,000,”  Register O’Donnell explained. “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.

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. Also, things may be slowing down compared to past real estate indicators. 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 them at facebook.com/NorfolkDeeds or follow on twitter.com/NorfolkDeeds and Instagram.com/NorfolkDeeds.

The Norfolk County Registry of Deeds is located at 649 High St., 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 at (781) 461-6101, or email [email protected].