Vol.44, No.29
www.thewarrengroup.com
W E E K O F M O N D A Y, J U LY 1 8 , 2 0 2 2
THE REGISTRY REVIEW NEW HAMPSHIRE’S STATEWIDE REAL ESTATE & FINANCIAL NEWSPAPER A Publication of The Warren Group
WEEKLY SALES OF NOTE
HOUSING INVESTMENTS
State Development Fund Opens for Applications
Winchester 8 SNOW RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $11,619,466 B: Winchester NH Propco LLC S: Applewood Realty LLC
Exeter 8 HAMPTON RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $10,525,200 B: Exeter NH Propco LLC S: Exeter Realty LLC
$100M Aimed to Boost Housing Production
Peterboro
BY ETHAN DEWITT
50 PHEASANT RD. . . . . . . . . . . . . . . . . . . . . . . . . . . $10,094,000 B: Peterborough NH Propco S: Pheasant Wood Realty LLC
NEW HAMPSHIRE BULLETIN
N
ew Hampshire rental housing developers will have two months starting next week to apply for their share of a $100 million housing development program, Gov. Chris Sununu and state officials said Tuesday, July 5. The announcement came as the state released new details about the program. “I have no doubt all this money is going to be allocated,” Sununu said. The program, InvestNH, will allocate $50 million of the federal funding directly to developers, $40 million to New Hampshire cities and towns and $10 million to the New Hampshire Housing Finance Authority. The initiative is intended to use federal relief funds from the 2021 American Rescue Plan Act to incentivize towns and developers to build affordable rental housing in the state. While the Executive Council approved the program in May, July 5 was the first day the Department of Business and Economic Affairs released application deadlines. Developers will be able to apply for the $50 million in funding between July 11 and Sept. 2. The developers must show that the project will serve tenants making up to 80 percent of that person’s area median income, that they have secured matching funding, and that their project needs the funding because of a shortfall. Developers are eligible for up to $3 million per project.
Moultonboro 244 KRAINEWOOD DR. . . . . . . . . . . . . . . . . . . . . . . . . $8,100,000 B: Brian Totty & Shernaz Daver S: Thomas B Ferrante Tr, Tr for Thomas B Ferrante RET Use: 7 Bdrm, Lot: 82764sf
Milford 40 CROSBY ST . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $6,811,333 B: Milford NH Propco LLC S: Crestwood Realty LLC
Rochester 298 N MAIN ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,550,000 B: MJH Rochester LLC S: Brock Properties LLC
Keene 40 AVON ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,200,000 B: Monadnock Cmnty Svc Ctr S: Antioch University Mtg: Mascoma Bank $3,375,000 Use: Educational Property, Lot: 247856sf
Litchfield 255 DERRY RD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,700,000 B: 255 Derry Road LLC S: Bae Systems Integration
Dover 140 WASHINGTON ST. . . . . . . . . . . . . . . . . . . . . . . . . $3,100,000 B: Marker 44 Holdings LLC S: Trela Assoc Mtg: Eastern Bank $3,200,000 Use: Bank Building, Lot: 56192sf
North Hampton 2 POND PATH. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$2,350,000 B: Mark F Besanceney Tr, Tr for Aarrp RET S: Scott Conine & Ranell Conine Mtg: First Seacoast Bank $650,000 Use: 4 Bdrm Cape Cod, Lot: 141134sf
$2,000 2000
REAL ESTATE RECORDS
Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec. Jan Feb
Month
600
Oct. 18
Oct. 19
Oct. 20
Oct. 21
600 $600 300 $300
$00
May May18
’18
Refinance
May 2018
$350
$282
$622
May 2019 Purchase
$373
$350
$723
May 2020
$275
$991
$1,266
May 2021
$326
$885
$1,211
May 2022
$359
$515
$874
Refinance
Purchase
900 $900
300
Purchase
Both
Refinance
1200 $1,200
900
Want to see your news Both featured in a Refinance future issue of Purchase The Registry Review?
’22
Both
1200
Continued on Page 16
May June June July July Aug Aug. Sept. Oct. Nov. Nov. Dec. Dec. Jan. Jan. Feb Feb. Mar. Mar. Apr. Apr. May May May Sep Oct.
1500 $1,500
1500
Oct. 17
0
’21
1800
0
Purchase
200
$1,000 1000 $750 750 $500 500 $250 250 $0 0
Refinance
400
$1,250 1250
TRANSACTIONS THRU
Both
600
$1,500 1500
Belknap �������������������������� 07/01/22 Carroll ���������������������������� 07/01/22 Cheshire ������������������������ 07/01/22 Coos �������������������������������� 07/01/22 Grafton ���������������������������� 07/01/22 Hillsborough ������������������ 07/01/22 Merrimack ���������������������� 07/01/22 Rockingham ������������������ 07/01/22 Strafford ������������������������ 07/01/22 Sullivan �������������������������� 07/01/22 Bankruptcies Lien & Attachments Foreclosure, Mortgagee & Other Lien Auctions Requests for Bids & Proposals
The cost for a two-bedroom unit that is affordable for tenants making up to 80 percent of the area median income varies across the state. According to an analysis from the BEA using Housing and Urban Development income limits, in Manchester, it is $1,798; in Portsmouth,
800
$1.750 1750
INDEX 3 4 4 5 5 6 9 11 13 14 15 15 15 15
Affordability, Zoning Incentives
$2,012; and in Belknap County, $1,427. Meanwhile, towns and cities can apply to receive funds to incentivize the quick approval of new housing units. The program will allocate $10,000 per new unit that municipalities approve, as long as they approve permits within six months of their application. Applications for those funds will be accepted beginning July 29. The program will allocate $30 million toward the permitting incentives, $5 million to allow towns to hire consultants to overhaul zoning and planning ordinances, and
Volume of Mortgages for Single-Family Homes
0 LAFAYETTE RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,300,000 B: Thompson Landing LLC S: Boulders Realty Corp Mtg: Haverhill Bk $6,720,887
COUNTY
Larger projects – where total costs are $3 million or more – must ensure that at least 20 percent of units are rented at rates at that affordability target. Smaller projects must ensure all units adhere to that affordability rate.
New Hampshire Market Statistics
Rye
PG
Gov. Chris Sununu won backing for his proposal to put $100 million in federal pandemic aid towards spurring housing production this summer.
May May19
May May20
May 21 May
May 22 May
’19
’20
’21
’22
Both
❑ Dollar amounts in millions ❑ Source: The Warren Group ❑ Statistics based on single-family home sales
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