The Registry Review: Nov. 11, 2019

Page 1

Vol.41, No.45

www.thewarrengroup.com

W E E K O F M O N D A Y, N O V E M B E R 1 1 , 2 0 1 9

THE REGISTRY REVIEW NEW HAMPSHIRE’S STATEWIDE REAL ESTATE & FINANCIAL NEWSPAPER A Publication of The Warren Group

WEEKLY SALES OF NOTE

SPRING LENDING MARKET

Londonderry 5 JACKS BRIDGE RD. . . . . . . . . . . . . . . . . . . . . . . . . $40,500,000 B: AGNL Pane LLC S: Harvey Propco LLC Mtg: Citi Real Estate Fund 160,000,000

Plaistow 5-11 PLAISTOW RD. . . . . . . . . . . . . . . . . . . . . . . . . . $20,000,000 B: Plaistow Center LLC S: Taurus Plaistow Investors LP Mtg: CIBC Inc $15,000,000

Goffstown

Low Inventories Continue to Affect Mortgage Seekers Year’s Slow Start Disappeared as Mortgage Rates Dropped BY DIANE MCLAUGHLIN THE REGISTRY REVIEW STAFF

L

99 EDDY RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,200,000 B: Agree LP S: 99 Eddy Road LLC

ow housing inventories throughout much of the state continued to affect the mortgage market, with lenders seeing strong activity later in the spring while buyers had to compete for available homes. “The inventory for realtors and buyers is still very, very light,” said Sheila Walter, a mortgage loan officer with Holy Rosary Credit Union in Rochester. “It’s definitely still a seller’s market, and we’ve seen that for the last few years.” The state’s housing shortage has left firsttime homebuyers struggling to find homes, and lower interest rates have spurred existing homeowners into seeking alternatives to a new home, including refinancing to pay for home improvements and even building what they’re not able to buy.

Nashua

$3B in Mortgages

172 SAINT ANSELMS DR . . . . . . . . . . . . . . . . . . . . . $12,000,000 B: Anselm Ventures LLC S: Merchant Highwood LLC Mtg: Greystone Servicing $11,079,750 Use: Apartment Bldg - 9 + Units, Lot: 420350sf

Nashua 90 NORTHEASTERN BLVD. . . . . . . . . . . . . . . . . . . . . . $9,900,000 B: AGNL Pane LLC S: Harvey Propco LLC Mtg: Citi Real Estate Fund 160,000,000 Use: Industrial Warehouse, Lot: 699574sf

Manchester 334 E INDUSTRIAL PARK DR . . . . . . . . . . . . . . . . . . . $7,700,000 B: AGNL Pane LLC S: Harvey Propco LLC

Salem 4-B RAYMOND AVE. . . . . . . . . . . . . . . . . . . . . . . . . . . $5,900,000 B: AGNL Pane LLC S: Harvey Propco LLC Mtg: Citi Real Estate Fund 160,000,000 Use: Industrial Office Building, Lot: 309276sf

Manchester

15 TRAFALGAR SQ U:II. . . . . . . . . . . . . . . . . . . . . . . . $4,185,000 B: Shri Nilkanth LLC S: BSP Cotton Road LLC Mtg: Peoples United Bank $2,850,000 Use: Office Condo Unit

Jackson 40 THORN HILL RD. . . . . . . . . . . . . . . . . . . . . . . . . . . $3,200,000 B: MBC Assoc LLC S: Luxury Inn Collection LLC Mtg: Northway Bank $1,600,000 Use: Commercial Building, Lot: 243500sf

New Hampshire had $2.95 billion in mortgage activity for single-family homes from January through June 2019, about 2.6 percent more compared to the same time period last year, according to The Warren Group, publisher of The Registry Review. There were slightly fewer single-family mortgages in the

REAL ESTATE RECORDS

450

3 Belknap ���������������������������� 10/29/19 4 Carroll ���������������������������� 10/29/19 4 Cheshire ������������������������ 10/29/19 5 Coos �������������������������������� 10/29/19 5 Grafton ���������������������������� 10/29/19 6 Hillsborough ������������������ 10/29/19 9 Merrimack ���������������������� 10/29/19 10 Rockingham ������������������ 10/29/19 12 Strafford ������������������������ 10/29/19 13 Sullivan �������������������������� 10/29/19 13 Bankruptcies 13 Lien & Attachments 14 Foreclosure, Mortgagee & Other Lien Auctions 14 Requests for Bids & Proposals

300 150 150 00

Sept. Oct. Oct. Nov. Nov. Dec. Dec. Jan. Jan. Feb. Feb. Mar. Mar. Apr. Apr. May Sept. May June June July July Aug. Aug. Sept. Sept. ’18

’19

Number 600 of Sales 600 450 450 300 300

150 150 00

Sept.

Sept. Sept. Sept. Sept. Sept. Sept. Sept. Sept. Sept. Sept. Sept. ’14 ’15 ‘16 ’17 ’18 ’19

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TO OUR READERS

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TRANSACTIONS THRU

924 single-family loans from January through June 2019 were for nonpurchase activity. The top loan originator for January through June was Jay Vogel, branch manager of Residential Mortgage Services in Nashua. He said 2019 will end as a record year for his firm, but it did not start out that way. RMS saw little mortgage activity in the first few months of the year, Vogel said.

Number of Condo Sales

INDEX PG COUNTY

first six months of 2019, 12,578 compared to 12,740 during the same time last year. About 53 percent of the single-family mortgages involved nonpurchase activity, with 6,725 loans worth $1.33 billion. Purchase activity accounted for 5,853 loans and $1.62 billion. The top lender for single-family homes during the first six months of 2018 and 2019 was Quicken Loans. About 72 percent of Quicken’s

New Hampshire Market Statistics

Portsmouth 240 WEST RD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,000,000 B: AGNL Pane LLC S: Harvey Propco LLC Mtg: Citi Real Estate Fund 160,000,000 Use: Industrial Warehouse, Lot: 135036sf

With the inventory of houses for sale very tight across New Hampshire, lower interest rates spurred existing homeowners to turn to refinancings to pay for additions instead of buying bigger homes.

Year

Number of Sales

Change Prior Year

Sept. 2014 Sept. 2015 Sept. 2016 Sept. 2017 Sept. 2018 Sept. 2019

466 495 467 526 465 530

9.13% 6.22% -5.66% 12.63% -11.60% 13.98%

q Statistics based on condominium sales over $1,000 q Source: The Warren Group

©2019 The Warren Group Inc. All rights reserved. No part of this publication may be reproduced without the written consent of the publisher.

he Registry Review is online! After more than 40 years as a printed newspaper, all of the real estate information you rely on is now available at www.theregistryreview.com. (There are no plans to cease publication of the newspaper.) All current subscribers have complimentary access to the website. When you first visit the site, please click the “forgot password” button to set up your account. If you have any problems please call or email customer service at 617-896-5388 or customerservice@thewarrengroup.com. If you have any feedback or would like to contribute content, please email editorial@ thewarrengroup.com. Sincerely, Cassidy Norton Associate Publisher The Warren Group


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