Vol.41, No.49
www.thewarrengroup.com
W E E K O F M O N D A Y, D E C E M B E R 9 , 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
CONSUMER DEBT
Manchester
1050 PERIMETER RD . . . . . . . . . . . . . . . . . . . . . . . . $17,200,000 B: Albany Road-Perimeter Road LLC S: Airtight 4 LLC
Hudson
Lenders See Opportunities with Personal Loans Products Offer Help with Credit Card Debt Consolidation, Other One-Time Cash Needs
5 WENTWORTH DR. . . . . . . . . . . . . . . . . . . . . . . . . . $16,700,000 B: Albany Road-Wentworth Drive LLC S: BSP Cotton Road LLC
BY DIANE MCLAUGHLIN
Manchester
rom vacation spending and major purchases to emergency expenses and debt consolidation, consumers in recent years have turned to personal loans for their cash needs. Balances in unsecured personal loans reached a record $156 billion in the U.S. during the third quarter of 2019, according to TransUnion, a consumer credit reporting agency. This represented a year-over-year increase of 17.8 percent. Part of the growth is driven by financial technology firms, like Lending Club, that have transformed how quickly and easily consumers can apply for and receive funds. The popularity of these loans has also presented opportunities for banks and credit unions that have long operated in this market. “How a member gets a personal loan has evolved with technology,” said Caleb Cook, vice president of consumer lending at Digital Federal Credit Union, which has branches in Hudson, Manchester, Merrimack and Nashua. “But it’s still more or less the same basic term loan we have offered for decades.”
645 HARVEY RD . . . . . . . . . . . . . . . . . . . . . . . . . . . . $14,250,000 B: Albany Road-Harvey Road LLC S: 51-53 West Auburn Rd Rlty Mtg: Brookline Bank $40,800,000 Use: Industrial Building, Lot: 437342sf
Salem
6 SALLY SWEET WAY . . . . . . . . . . . . . . . . . . . . . . . . $13,300,000 B: Salem NH Senior Property S: VRS/LCB Salem LLC Mtg: Capital One $30,930,000 Use: Commercial Use, Lot: 239580sf
Concord
169 PORTSMOUTH U:44-163 . . . . . . . . . . . . . . . . . . $11,500,000 B: Cranmore Ridge SPE LLC & 645 Harvey Rd LLC S: Parkwood Engineering Dev
Nashua
22 COTTON RD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $10,350,000 B: Albany Road Cotton Rd LLC S: BSP Cotton Road LLC Mtg: Brookline Bank $40,800,000 Use: Industrial Office Building, Lot: 445924sf
Hudson
193 LOWELL RD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $5,750,000 B: Raymond James Granite Prop S: AMR Real Estate Holdings Mtg: M&T Bank NA $5,300,000 Use: Auto Sales, Lot: 260968sf
Nashua
539 AMHERST ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,309,800 B: Agree Stores LLC S: Holland Hampshire LLC
Bedford
121 S RIVER RD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,150,000 B: GFI JHM Bedford Owners S: Hir Realty LLC Mtg: Country Bank $22,580,000 Use: Supermarket, Lot: 298822sf
Manchester
520 E INDUSTRIAL PARK DR . . . . . . . . . . . . . . . . . . . $3,000,000 B: Gowanda RCD LLC S: Arcidy Realty LLC Use: Commercial Warehouse, Lot: 222161sf
REGISTRY REVIEW STAFF
F
Alternative Financing One reason consumers have turned to unsecured personal loans – cash loans that are not for business purposes and not backed by collateral – is debt consolidation. With lower
800
INDEX
includes much of eastern Massachusetts and southern New Hampshire had about 27,600 loan originations in the second quarter, according to TransUnion, a 30.6 percent increase from the same time period last year. Loan balances in the region rose from $1.614 billion in the third quarter last year to about $2.1 billion this year. Two years ago, balances were $1.337 billion. TransUnion Senior Vice President and consumer lending business leader Liz Pagel said fintechs were able to enter and succeed in the marketplace because they recognized con-
Volume of Mortgages for Single-Family Homes $1200 1200
Both Refinance
600
$900 900
400
REAL ESTATE RECORDS PG COUNTY
interest rates compared to credit cards, these loans are often used to pay off credit card debt. U.S. consumers had 22.5 million of these loans in the third quarter, with an average balance of about $9,000, according to TransUnion. The loans include 4.8 million originations in the second quarter, an 8.2 percent increase from the same time period last year. (Because of a reporting lag, originations trail TransUnion’s other data by a quarter.) Between the second quarter of 2017 and 2018, loan originations had jumped by 23 percent. Originations increased even more in the area. The metropolitan statistical area that
New Hampshire Market Statistics
Derry
20 CHESTER RD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,600,000 B: Axis Health At Derry Propco LLC S: Aurora Holdings XII LLC Mtg: VNB New York LLC 131,600,000 Use: Nursing Home, Lot: 256133sf
With interest rates low, underwriting technology improving and consumer’s willingness to take on debt increasing, lenders of all stripes are finding opportunity in the personal loan business.
Purchase
200
TRANSACTIONS THRU
$600 600 0 Mar Apr May Jun Jul Aug Sep Oct Nov Dec. Jan Feb 3 Belknap ����������������������������Feb11/26/19 4 Carroll ���������������������������� 11/26/19 $305 300 5 Cheshire ������������������������ 11/26/19 $0 0 Oct. Nov. Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. 6 Coos �������������������������������� 11/26/19 Oct Nov Dec. Jan Feb Mar Apr. May June July Aug Sep Oct ’18 ’19 6 Grafton ���������������������������� 11/26/19 8 Hillsborough ������������������ 11/26/19 Month Purchase Refinance Both 1200 $1200 Both 11 Merrimack ���������������������� 11/26/19 Oct. 2015 $273 $323 $596 1000 $1000 Refinance 13 Rockingham ������������������ 11/26/19 Oct. 2016 $305 $511 $816 800 $800 Purchase 16 Strafford ������������������������ 11/26/19 600 $600 Oct. 2017 $358 $384 $742 17 Sullivan �������������������������� 11/26/19 400 $400 Oct. 2018 $314 $301 $615 17 Bankruptcies 200 $200 Oct. 2019 $386 $706 $1,092 18 Lien & Attachments $00 Oct. 15 Oct. 16 Oct. 17 Oct. 18 Oct. 19 Oct. Oct. Oct. Oct. Oct. ’15 ’16 ’17 ’18 ’19 18 Foreclosure, Mortgagee & Other Lien Auctions ❑ Dollar amounts in millions 18 Requests for Bids & Proposals ❑ Source: The Warren Group ❑ Statistics based on single-family home sales 500
Both
Refinance
375
Purchase
250
125
0
Feb. 14
Feb. 15
Feb. 16
Feb. 17
Feb. 18
©2019 The Warren Group Inc. All rights reserved. No part of this publication may be reproduced without the written consent of the publisher.
Continued on Page 20
TO OUR READERS
T
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 Both www.theregistryreview.com. (There are no plans to cease publication of the Refinance newspaper.) All current subscribers Purchase 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