Registry’s December and Year End Numbers Are In
Our December numbers were strong with 669 deeds recorded in December, 2011 [1] as compared to 624 deeds recorded in December, 2010. December also brought the second highest number of mortgages recorded (2373) in 2011. These results contributed to our recent Register’s Report [1] explaining that we had a stronger second half of 2011 in terms of sales than the first half of the year.
Overall, 2011 recording results at the Plymouth County Registry of deeds were a mixed bag. The number of sales declined 5% as compared to 2010, but since June, 2011 we saw sales increase. Despite historically low interest rates, the number of mortgages recorded were down 11% compared to 2010.
Our continuing distressed marketplace remains, caused in great part by our national and local economic problems. As a result of those issues, many people are having difficulty keeping up with their mortgages. However, for a variety of reasons, including a slow down in processing by national banks, foreclosure deeds and foreclosure notices were significantly lower than last year. In 2011, foreclosure deeds were down 28%. Foreclosure notices, the first documents we see at the registry in a foreclosure, were down 30%.
Although January and February are traditionally our two slowest months, we hope the trend in sales towards the end of 2011 continues in 2012. We wish everyone a happy, healthy and prosperous 2012!