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Register Reports on Quarterly Real Estate Activity

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Norfolk County Register of Deeds William P. O'Donnell reported today on quarterly real estate activity in Norfolk County for the second quarter of fiscal year 2008.

Total dollar volume of real estate sales in Norfolk County for the second quarter period October, 2007, through December, 2007, was just short of $1.6 billion. This represents a 9% increase from the comparable period last year in dollar volume, although the total number of 3533 deeds recorded during the period shows a decline of 17% from the previous year's quarter. The average sales price of deeds over $1,000 (both residential and commercial properties) rose to $756,026, a 30% increase over the second quarter of fiscal year 2007 when the average price was $580,660. This strong increase is most likely the result of the sale of some larger commercial properties in Norfolk County as well as the continuing trend of medium to higher priced properties selling at a better pace than those at the lower end of the market.

Mortgage recording activity declined 34% on a year to year basis with 7873 new mortgages being recorded despite relatively little movement in mortgage rates compared to last year. In contrast, total mortgage value for the quarter declined by only 23% to $6.7 billion evidencing that the slowing real estate market did not necessarily dampen lenders' willingness to recognize the value of Norfolk County property. It is important to note that this total amount does not necessarily represent an overall increase in indebtedness as some mortgages may be recorded multiple times against different parcels of land, are refinances simply replacing existing debt, or are recorded to secure equity credit lines which may not be drawn to their capacity.

The Registry of Deeds, located at 649 High Street, Dedham, is the principal office for real property in Norfolk County. The Registry is the basic resource for homeowners, title examiners, mortgage lenders, municipalities and others with a need for secure, accurate, accessible land record information. Hundreds of thousands of Registry land records back to 1793 are already available for on-line viewing while the Register continues to expand its indexing capacity to include earlier records. The Registry of Deeds can be contacted via telephone at 781-461-6101, or on the internet at www.norfolkdeeds.org.

One-Fourth of Small Business Owners Unconcerned About Data Security

 

Although the majority of small businesses secure their computer systems, one-fourth are unconcerned about computer and online data security, according to a survey conducted by AT&T Inc.

 

Similarly, one-third (32 percent) of small businesses are unconcerned about wireless data security, and one in six (17 percent) that use wireless technology have taken no precautions against wireless threats.

Nearly two-thirds (60 percent) of small businesses consider online security a concern, and four-fifths (82 percent) have installed software, such as spam filters or anti-virus protection, to help keep their business safe from online security threats. Of those companies that have not taken any specific precautions against computer or wireless threats, two-thirds (65 percent) don't think it's an issue with their business.

When asked about the importance of recovering computer data in the event of a disaster, two-thirds (65 percent) said it is extremely important. More than nine of 10 (93 percent) small businesses back up their data, with almost half (47 percent) doing so at least once a day and almost three-fourths (72 percent) backing up their data at least weekly.

Many small businesses consider computer security important enough to make it an official job responsibility—almost one-third (29 percent) of small businesses have an employee who handles computer security as part of his or her job, and one-fourth (24 percent) have hired an outside consultant to handle security.

Although three-fourths (73 percent) back up their data on-site using CDs, hard drives or other devices, only 7 percent of small businesses use the Internet or another computer network to send data to a remote location. In addition, three-fourths (78 percent) of small businesses said it's important for their business to recover computer data in the event of a disaster.

Of those small businesses that have not taken specific steps to backup data, two-thirds (63 percent) don't think it's an issue with their business. Two percent didn't know they should take any precautions.

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