Vol.41, No.18
www.thewarrengroup.com
W E E K O F M O N D A Y, M A Y 6 , 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
CONSTRUCTION BARRIERS
Londonderry
New Court Proposal Could Boost Building
52 PETTENGILL RD. . . . . . . . . . . . . . . . . . . . . . . . . . $50,600,000 B: ILPT Properties LLC S: ARCP ID Londonderry NH Use: Industrial Warehouse, Lot: 1965427sf
Housing Appeals Board Would Make Planning and Zoning Appeals Faster, Cheaper
Manchester
BY DIANE MCLAUGHLIN
875 ELM ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $38,758,533 B: Mirkwood LLC S: 875 Elm Street LLC Use: Mixed Use-prim Res & Comm, Lot: 22000sf
Bedford 4 HAWTHORNE DR . . . . . . . . . . . . . . . . . . . . . . . . . . $11,740,000 B: MMAC 150 Bedford NH LLC S: Spine Realty LLC Use: Office Bldg-general, Lot: 120226sf
Whitefield 143 AIRPORT RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $7,450,000 B: Presby Plastics Inc S: DWP Real Estate Mgmt
Seabrook 9 BATCHELDER RD. . . . . . . . . . . . . . . . . . . . . . . . . . . $4,250,000 B: JPO Seabrook LLC S: Corium Real Estate Corp Mtg: Peoples United Bank $3,400,000 Use: Industrial Building, Lot: 198862sf
Bedford 9 CEDARWOOD DR. . . . . . . . . . . . . . . . . . . . . . . . . . . $2,600,000 B: Teng Realty LLC S: K&M Properties LLC Mtg: NBT Bank NA $1,950,000 Use: Office Bldg-general, Lot: 194278sf
Windham 1 INDUSTRIAL DR. . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,900,000 B: AFS Realty LLC S: FDI Realty LLC Mtg: Haverhill Bk $2,300,000 Use: Industrial Office Building, Lot: 153767sf
Wentworth 6 NH ROUTE 25A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,645,133 B: Paul Klein Tr, Tr for Klein LT S: Wentworth DG LLC Use: 3 Bdrm Cape Cod, Lot: 38768sf
Portsmouth 44 GARDNER ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,520,000 B: Jeffrey L Ives & Dolores P Ives S: W Jeffrey Bolster Tr, Tr for W Jeffrey Bolster RET Mtg: Rockland Tr Co $600,000 Use: 3 Bdrm Conventional, Lot: 6267sf
Meredith 20 DALE RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,162,500 B: William H Madden Jr & Kathleen A Madden S: John Hand Mtg: Mortgage Networks Inc $500,000 Use: 3 Bdrm Colonial, Lot: 28314sf
INDEX
A
fter local land-use boards reject a housing development or other permit request, and after all local recourses have been exhausted, developers and property owners can turn to the state’s Superior Court system to appeal the decision. But the process takes time and money, and some applicants choose to abandon projects rather than go to court. For a wide-ranging group of state legislators, workforce housing advocates, homebuilders and real estate professionals, some of these rejected and abandoned projects could have helped the state’s ongoing housing shortage. “New Hampshire is experiencing really historic lack of housing inventory, and that is a trend that we’ve been seeing now for a number of years,” said Bob Quinn, vice president of government affairs for the New Hampshire Association of Realtors. “A contributing factor in that – but certainly no one is suggesting the only factor – has been the challenges developers have when going to certain municipalities to try to get permits.”
Lengthy, Pricey Appeals Reduce New Building State legislators want to address this issue. In March, the state Senate overwhelmingly passed a bill that would create a Housing Appeals Board. If approved by the House of Representatives, the board would give developers and property owners an alternative to Superior Court when appealing land-use decisions.
Members of the real estate and affordable housing industries say the state’s often-lengthy process to appeal decisions by local zoning and planning boards is reducing the amount of new home construction, contributing to the state’s housing shortage.
Sen. Bob Giuda, R-Warren, sponsored Senate Bill 306. For Giuda, New Hampshire’s lack of workforce housing is a key reason for creating the statewide board. He said prospective employers want to know whether New Hampshire has adequate housing for employees. The answer, he said, is “no.” “Obviously there’s a supply shortage,” Giuda said. “That’s detrimental to the state’s economy; it’s detrimental to families.” He said one reason for the supply shortage is “the overapplication of zoning and planning board regulations.” “Sometimes whimsical, arbitrary conditions and requirements are levied,” he said.
The proposed legislation would establish a three-person board consisting of one real estate attorney, one engineer or surveyor, and another person, all chosen by the New Hampshire Supreme Court. After all local options have been exhausted, the applicant could appeal either in Superior Court or to the Housing Appeals Board. If choosing the Housing Appeals Board, the applicant would have to file within 30 days of the final municipal rejection, and the board would hear the appeal within 90 days. The board’s decision would then be made within 60 days.
NEW HAMPSHIRE MARKET STATISTICS
TRANSACTIONS THRU
3 Belknap ���������������������������� 04/23/19 3 Carroll ���������������������������� 04/23/19 4 Cheshire ������������������������ 04/23/19 5 Coos �������������������������������� 04/23/19 5 Grafton ���������������������������� 04/23/19 6 Hillsborough ������������������ 04/23/19 8 Merrimack ���������������������� 04/23/19 9 Rockingham ������������������ 04/23/19 11 Strafford ������������������������ 04/23/19 12 Sullivan �������������������������� 04/23/19 12 Bankruptcies 13 Lien & Attachments 14 Foreclosure, Mortgagee & Other Lien Auctions 14 Requests for Bids & Proposals
Continued on Page 16
TO OUR READERS
T
Single-Family Median Sales Price
he Registry Review has for many years been a terrific source of
real estate data in New Hampshire,
$300,000 300000
but it has the potential to be much more. The newspaper now features
$280,000 280000
REAL ESTATE RECORDS PG COUNTY
REGISTRY REVIEW STAFF
articles from the staff of The Warren Group, publisher of The Registry Re-
$260,000 260000
view; news briefs from real estate and financial institutions throughout the
$240,000 240000
state; and analytics from The Warren Group’s proprietary data prod-
$220,000 220000
Mar. Apr. Apr. May May June June July July Aug. Aug. Sept. Sept. Oct. Oct. Nov. Nov. Dec. Dec. Jan. Feb. Feb. Mar. Mar. Mar. ’18
’19
Number
news, feedback and story ideas to us at editorial@thewarrengroup.com.
300000 of Sales $300,000 240000 $240,000
Year
Median Price
180000 $180,000
Mar. 2015
$209,000
10.29%
120000 $120,000
Mar. 2016
$215,000
2.6%
60000 $60,000
Mar. 2017
$232,000
7.91%
Mar. 2018
$242,000
4.31%
Mar. 2019
$260,000
7.44%
$00
ucts. We invite readers to submit their
Mar.
Mar. ’15
Mar.
Mar. ’16
Mar.
Mar.
Mar. ’17
Mar.
Mar. ’18
Mar.
Mar. ’19
Change Prior Year
q Statistics based on single-family home sales of $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.
Sincerely, Cassidy Norton Associate Publisher The Warren Group