The Registry Review: May 30, 2022

Page 1

Vol.44, No.22

www.thewarrengroup.com

W E E K O F M O N D A Y, M A Y 3 0 , 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

INVESTMENT PROPERTIES

Institutional Investors Are Buying NH Houses, but Where?

Laconia 220 UNION AVE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $10,368,400 B: Milestone NH Holdings LLC S: CNLV 2 Cvlacnh LLC Use: Retail-service, Lot: 69260sf

Nashua 10 SAINT LAURENT ST U:1. . . . . . . . . . . . . . . . . . . . . $3,786,000 B: Store Master Funding 26 LLC S: Double 9 Property 2 LLC & 99 Remainder 2 LLC Mtg: Citibank Na $3,797,989 Use: Restaurant/bar, Lot: 40598sf

Sun Belt States See Most of the Action BY JAMES SANNA REGISTRY REVIEW STAFF

Manchester

W

ith home prices spiraling upwards and stories about the growing single-family rental industry percolating in local and national media alike, concern is rising about the impact institutional investors might be having on the housing market. But are there really that many in New Hampshire? New research from the National Association of Realtors’ economics team sheds light on the question. NAR researchers used property deeds provided by real estate data firm Black Knight to estimate institutional buyers’ market share in counties across the nation in 2020 and 2021, and announced their findings Tuesday. Nation-wide, institutional buyers – which researchers defined as “companies, corporations, or LLCs” – made up 13.2 percent of residential purchases in 2021, and saw their market share grow in nearly all states compared to 2020. However, while this is an increase of 1.5 percentage points over 2020, it is far from a high. The NAR report says investors made up between 14 percent and 15.7 percent of all residential purchases across America between 2011 and 2019.

1685 S WILLOW ST. . . . . . . . . . . . . . . . . . . . . . . . . . . $3,426,533 B: Store Master Funding 26 LLC S: Double 9 Property 2 LLC & 99 Remainder LLC Mtg: Citibank Na $3,426,528 Use: Restaurant/bar, Lot: 70000sf

Hooksett 1308 HOOKSETT RD. . . . . . . . . . . . . . . . . . . . . . . . . . $3,197,533 B: Store Master Funding 26 LLC S: Double 9 Property 2 LLC & 99 Remainder LLC Mtg: Citibank Na $3,197,529

Franklin 951 CENTRAL ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,025,000 B: Stevens Mill Landowner LLC S: RX Franklin NH Invest LLC Mtg: Northway Bank $2,420,000 Use: Commercial Building, Lot: 77537sf

North Hampton 17 POND PATH. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$2,500,000 B: Daniel Horne & Barbara Horne S: Sandra L Wadsworth Tr, Tr for Sandra L Wadsworth T

Franklin 20 CANAL ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,200,000 B: Stevens Mill Landowner S: Stevens Mill LLC Mtg: Franklin Svgs Bank NH $1,320,000 Use: Commercial Building, Lot: 105415sf

Bedford 24 WELLESLEY DR . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,000,000 B: Jwalant Vadalia & Bhavna Vadalia S: John R Monson Tr, Tr for Susan B Monson T Mtg: United Wholesale Mtg $1,508,960 Use: Residential-multiple Bldgs, Lot: 1031065sf

Ossipee 1 TERRACE PINES RD. . . . . . . . . . . . . . . . . . . . . . . . . $2,000,000 B: Terrace Pines Rv LLC S: Jane M Wright Tr, Tr for Jane M Wright RET Mtg: Bank of New Hampshire $4,280,000 Use: Mixed Use-prim Comm & Other, Lot: 5419735sf

7,000 7000

7000

Belknap �������������������������� 05/13/22 Carroll ���������������������������� 05/13/22 Cheshire ������������������������ 05/13/22 Coos �������������������������������� 05/13/22 Grafton ���������������������������� 05/13/22 Hillsborough ������������������ 05/13/22 Merrimack ���������������������� 05/13/22 Rockingham ������������������ 05/13/22 Strafford ������������������������ 05/13/22 Sullivan �������������������������� 05/13/22 Bankruptcies Lien & Attachments Foreclosure, Mortgagee & Other Lien Auctions Requests for Bids & Proposals

2000 1000 0

April May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. April

2,000 2000

Continued on Page 12

Want to see your news Both featured in a Refinance future issue of Purchase The Registry Review?

1,000 1000

00

Apr. May May June June July July Aug. Aug. Sept. Sept. Oct. Oct. Nov. Nov. Dec. Dec. Jan. Jan. Feb. Feb. Mar. Mar. April Apr. April ’21

’22

6000 6,000

BothMonth

Purchase

Refinance

Both

Apr. 2018

1,015

1,072

2,087

3000 3,000

Apr. 2019

989

1,265

2,254

2000 2,000

Apr. 2020

815

3,407

4,222

1000 1,000

Apr. 2021

778

4,661

5,439

Apr. 2022

657

2,444

3,101

Both

5000 5,000

5000 4000 3000

Refinance

Refinance

Purchase

4000 4,000

2000 1000

Apr. 18

3000

3,000 3000

6000

0

Purchase

4000

4,000 4000

TRANSACTIONS THRU

Refinance

5000

5,000 5000

REAL ESTATE RECORDS

Both

6000

6,000 6000

INDEX 3 3 4 4 5 5 7 8 9 10 10 10 10 10

ings were down 7 percent year-over-year as of March 2022, whereas listings were only down 4 percent year-over-year in counties where the share of institutional buyers was below the national average. And areas where institutional investors were more active in buying homes, renters made up 30 percent of households on average, compared to 27 percent of households where institutional investors weren’t as active.

Number of Mortgages for Single-Family Homes

528 OCEAN BLVD . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,950,000 B: Charter Street LLC S: SaRuN-Sh LLC Mtg: Enterprise Bk & Tr Co $800,000 Use: Mixed Use-prim Comm & Other, Lot: 22216sf

COUNTY

The median price these buyers paid was typically 26 percent below the state median price, NAR said, but that shrank to 20 percent in states where more than 13 percent of homes were sold to institutional buyers. Below that threshold, it sank to 30 percent. The research also found evidence that these institutional investors were helping tighten the housing market. In counties where the investor share was higher than the national average, list-

NEW HAMPSHIRE MARKET STATISTICS

Hampton

PG

Despite the national furor over the influence of large investors on the single-family housing market, very few New Hampshire homes were bought by institutional buyers last year.

Apr. 19

Apr. 20

Apr. 21

Purchase

Apr. 22

00

Apr. 18 Apr.

Apr. Apr.19

’18

’19

Apr. Apr.20

’20

Apr. Apr.21

Apr. Apr.22

’21

’22

❑ Statistics based on single-family home sales ❑ Source: The Warren Group

©2022 The Warren Group Inc. All rights reserved. No part of this publication may be reproduced without the written consent of the publisher.

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