Lowell Deeds

The latest on real estate recordings and new technology from the Middlesex North Registry of Deeds in Lowell

September 1, 2006

Lowell Sun Blog Cites LowellDeeds

by @ 9:55 am. Filed under Statistics, Real Estate

After noting the increasing amount of space devoted to foreclosures in his paper’s legal notice section, Lowell Sun editor Jim Campanini called today to discuss the housing market. He’s written a lengthy report on the Sun’s “Community Forum” on this very important topic. As I mentioned in yesterday’s posting here, I’ve created two charts (in PDF format) that should help put recent activity in a historical perspective. The first chart, “Twelve Month Comparison of Foreclosure Filings, Foreclosure Deeds, Deeds & Mortgages” shows the total number of each of those document types recorded at the Middlesex North Registry of Deeds in each month from August 2005 to August 2006 (that’s actually 13 months). The second chart, “Comparison of Orders of Notice & Foreclosure Deeds Filed, 1990 to 2006″ shows the number of each of those document types filed per year since 1990. The statistics for 2006, of course, are just an estimate. They were derived by taking a monthly average for January through August and multiplying by twelve. If that estimate holds true for foreclosure filings (aka Orders of Notice), approximately 568 would be recorded this year, the largest number since 604 in 1996. Of course, 1992 saw 1036 foreclosure filings which leads to the question: Are things not really that bad compared to the early 1990s or is the housing market just at a midpoint in this latest downward spiral?

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