Wednesday, February 15, 2012

Mid-month recording statistics

The first two weeks in February brought some good news on the document recording front.  The number of deeds and mortgages recorded in the first two weeks of February 2012 were both 29% than the first two weeks of February 2011.  Deeds went from 125 to 161 while mortgages jumped from 391 to 504.  February is always are slowest month for recordings whether real estate is booming or in a slump so this increase is good news.  Hopefully the final two weeks of the month show a similar increase.

The one down note comes with Orders of Notice.  They are up 50% compared to the same time last year.  For the first two weeks of February 2012, there were 33 orders of notice recorded while for the same two weeks in 2011 there were only 22.  (The number of foreclosure deeds didn't really change with 10 in 2011 and 11 this year).  Percentage-wise the frequency of Order of Notice filings for the towns in the district have increased when compared to the percentage for the city of Lowell.  Of the 22 in the first two weeks of last February, 36% were from Lowell and 64% were from the towns.  This February, 55%  are from Lowell and just 45% are from the towns.

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