Norwood September 2018

Page 16 Norwood Local Town Pages www.localtownpages.com September 2018
Run Your Listings With Us!
Contact Susanne at
508-954-8148 • Susanneo@localtownpages.com
John R. Sullivan
Mortgage Broker - NMLS #9534
• Painting
• Carpentry
• Powerwashing
• Interior
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MICHAEL T. JOYCE
(617) 285-1098
35 Years Experience
Coldwell Banker Residential Brokerage - Jen Conley
“The only way to do great work is to love what you do”…
Steve Jobs
I Love my work as a realtor.
Let me help you with all your real estate needs!
Jennifer Gay Conley
508-265-3824
Lifelong Norwood Resident
Jen.Conley@NEMoves.com
JenConley.CBInTouch.com
Purchase & Refinance
Conventional Loan, FHA VA &
JumboReverse Mortgages
Many Programs Suited to First Time Buyers
“John,
I just wanted to thank you again for expediting the
preapproval today, you literally saved my chances of
keeping the home at this stage in the process.”
Diana
Register O'Donnell
Highlights July '18 Norfolk
County Real Estate Numbers
While residential and commercial
real estate transactions
crept slowly higher for the month
of July, 2018, the average sales
price of Norfolk County property
remains as hot as the summer's
weather.
"During the month of July,
a total of 1,796 residential and
commercial properties were sold
in Norfolk County, representing
a modest 2% increase year over
year,’ Register O'Donnell noted.
“This small growth in sales activity,
contrasting with the significant
increases seen in total dollar sales
volume and average sales price for
both residential and commercial
properties, clearly demonstrates
the extremes of the market."
For the month of July, total real
estate sales volume was $1.06 billion,
a 33% increase compared to
July, 2017. Also, the average sales
price, again for both residential
and commercial properties, was
$835,316, a 29% increase compared
to the previous year.
"Industry observers are seeing
sellers getting their asking price
and in some cases, even more,”
Register O’Donnell said. “This
data strongly points to the continuing
competition amongst prospective
buyers for a very limited
pool of real estate inventory."
Lending activity for July decreased
by 4% countywide. A total
of 2,309 mortgages were recorded
during the month compared to
2,407 recorded in July 2017.
"It would appear rising interest
rates are causing consumers
to pause when borrowing money
for big ticket expenditure items,"
Register O'Donnell said.
An aberration in the July data
was the steep decrease in total
residential and commercial borrowing
which fell by 79% to $992
million. However, this major dropoff
can be largely attributed to a
$1.6 billion mortgage taken out
against a commercial property on
the Weymouth and Quincy line in
July 2017.
On the consumer front, July
also saw a slight 3% increase in the
number of Homesteads recorded
from the same time last year.
"A Homestead is an important
consumer protection tool that provides
limited protection against
the forced sale of a homeowner's
primary residence to satisfy unsecured
debt up to $500,000," Register
O'Donnell noted.
During July, 2018, there were
small increases seen in foreclosure
activity. A total of 20 foreclosure
deeds were recorded during the
month compared to 18 in July,
2017. In addition, 38 Notice to
Foreclose Mortgage recordings,
the first step in the foreclosure
process, were filed versus 34 year
over year.
"We continue to watch closely
the foreclosure numbers here
in Norfolk County," Register
O’Donnell said.
The Norfolk County Registry
of Deeds continues to partner
with Quincy Community Action
Programs at (617) 479-8181 x-376
and Neighbor Works Southern
Mass at (508) 598-0950 to help
anyone who has received a Notice
to Foreclose Mortgage from
a lending institution. Another
option is to contact the Massachusetts
Attorney General's Consumer
Advocacy and Response
Division (CARD) at (617) 727-
8400.
"Norfolk County continues
to mirror eastern Massachusetts
when it comes to limited real estate
inventory, resulting in higher housing
costs,” Register O'Donnell
concluded. “The reduced lending
numbers also tell us that consumers
are looking at the impact of
higher interest rates before making
major purchases, especially in the
area of real estate."
To learn more about these and
other Registry of Deeds events
and initiatives, like uthem at
facebook.com/NorfolkDeeds or
follow on twitter.com/Norfolk-
Deeds andinstagram.com/NorfolkDeeds.
The Norfolk County Registry
of Deeds is located at649 High
St., 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 at www.norfolkdeeds.org.
Residents in need of assistance
can contact the Registry of Deeds
Customer Service Center at (781)
461-6101, or email registerodonnell@norfolkdeeds.org.
Residential Mortgages
The Summer is Hot, but so is the Market!
…call Today for Pre-Approval
7 Vernon Street, Norwood
Cell: 781-864-1965 • Tel: 781-762-2875
www.omegafin.com • jsullivan@omegafin.com
Licensed by MA Div of Banks MB2671
Norwood Inventory Rises Slightly
By Bella Caggiano
For the town of Norwood, lack of inventory has
been an ongoing problem mirroring Norfolk County
and actually the state of Massachusetts. If you talked
with potential homebuyers or local Realtors, you
would likely hear, there is just not a lot of properties
to consider and compare. That statistic, however,
could be experiencing a slight change.
The number of available listings in Norwood actually
increased in year over year statistics, with 19 for
sale on August 18, 2017, compared to 22 on August
18, 2018.