The Registry Review: July 18, 2022

Page 1

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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