Vol.44, No.27
www.thewarrengroup.com
W E E K O F M O N D A Y, J U LY 4 , 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
HOT PROPERTIES
Final Offer Promises Buyers Transparency. Will Sellers Bite?
Seabrook
47 WEARE RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $14,650,000 B: Makor Windjammer LLC S: 47 Weare Road LLC Mtg: Berkeley Pnt Cap LLC $9,686,000 Use: Apartment Bldg - 9 + Units, Lot: 209500sf 11 COLLINS ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $5,600,000 B: Makor Manor LLC S: 11 Collins Street LLC Mtg: Berkeley Pnt Cap LLC $3,697,000 Use: Apartment Bldg - 9 + Units, Lot: 73616sf
New England-Grown Bidding War-Management Tool Launches
Concord
BY CAMERON SPERANCE
PENACOOK ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,323,000 B: 81 Hall Street LLC S: Chelmsford Concord LLC
SPECIAL TO THE REGISTRY REVIEW
A
group of real estate agents and technology experts launched a homebuying platform in Boston this spring that banks on the idea pulling back the curtain on the bidding process could be a disruptive success in residential real estate. But in the region’s hotly a competitive real estate market, it remains to be seen if total transparency ends up leaving money on the table for sellers wanting to maximize their profits. Final Offer, which bills itself as bringing greater transparency to the bidding process for a home, launched in April with a 3,368 square-foot home in a Boston suburb that listed on the local MLS at $1.75 million and ended up with a winning bid for $1.83 million. An over-asking sale in the suburbs may not seem like anything disruptive to the residential real estate space. But it’s how the home sold that Final Offer’s founders say can bring much-needed change to an industry that leaves a lot of people feeling like they’re left in the dark. “It just kept coming back to the whole
Exeter
1 FRANKLIN ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,400,000 B: AC Hospitality LLC S: Porches At Exeter LLC Mtg: Kennebunk Svgs Bank $2,080,000 Use: Mixed Use-prim Res & Comm, Lot: 27879sf
Conway
1814 WHITE MOUNTAIN HWY. . . . . . . . . . . . . . . . . . . $3,400,000 B: Olympia Golden Gables LLC S: Jan G Filip 4th Mtg: Bar Harbor Bk & Tr $4,100,000 Use: Mixed Use-prim Comm & Other, Lot: 165528sf
Claremont
73 PLEASANT ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,338,000 B: SJN Claremont Prop Assoc S: PJC Realty Co Inc Mtg: NBT Bank NA $2,333,333 Use: Retail-any, Lot: 61420sf
New Castle
34 OLIVER ST . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,100,000 B: Richard Pressman TR, Tr for Ronald R Pressman RET S: Amy L Gworek Tr, Tr for Agnes L Palmer RET Use: 4 Bdrm Conventional, Lot: 78408sf
Concord
1 GRANITE PL. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,882,000 B: 81 Hall Street LLC S: Granite Concord Prop LLC Mtg: Bank of New Hampshire $10,884,000 Use: Commercial Warehouse, Lot: 1797721sf 81 HALL ST U:2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,850,000 B: NHT 2022 LLC S: 81 Hall Street LLC Mtg: Enterprise Bk & Tr Co $5,650,000 Use: Condo
Strafford
45 BOW VIEW DR . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,707,000 B: Stephen J Walch Tr, Tr for Stephen J Walch RET S: Keith E Venezia Tr, Tr for Keith E Venezia RET Use: 4 Bdrm Contemporary, Lot: 15246sf
7,000 7000
3000 2000 1000 0
May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. April May
2,000 2000
Continued on Page 16
Want to see your news Both featured in a Refinance future issue of Purchase The Registry Review?
1,000 1000
00
May June June July July Aug. Aug. Sept. Sept. Oct. Oct. Nov. Nov. Dec. Dec. Jan. Jan. Feb. Feb. Mar. Mar. April Apr. May May May ’21
’22
6000 6,000
BothMonth
Purchase
Refinance
Both
May 2018
1,298
1,739
3,037
3000 3,000
May 2019
1,309
1,875
3,184
2000 2,000
May 2020
935
4,018
4,953
1000 1,000
May 2021
932
3,848
4,780
May 2022
925
2,481
3,406
Both
5000 5,000
5000 4000 3000
Refinance
Refinance
Purchase
4000 4,000
2000 1000
May 18
Purchase
4000
3,000 3000
6000
0
Refinance
5000
4,000 4000
TRANSACTIONS THRU
Both
6000
5,000 5000
REAL ESTATE RECORDS
Belknap �������������������������� 06/17/22 Carroll ���������������������������� 06/17/22 Cheshire ������������������������ 06/17/22 Coos �������������������������������� 06/17/22 Grafton ���������������������������� 06/17/22 Hillsborough ������������������ 06/17/22 Merrimack ���������������������� 06/17/22 Rockingham ������������������ 06/17/22 Strafford ������������������������ 06/17/22 Sullivan �������������������������� 06/17/22 Bankruptcies Lien & Attachments Foreclosure, Mortgagee & Other Lien Auctions Requests for Bids & Proposals
The Final Offer team looked to other parts of the world like the UK and Austra-
7000
6,000 6000
INDEX 3 3 5 5 6 7 9 10 12 13 14 14 14 14
Inspired by Overseas Practices
lia for how the platform would be modeled. Home listings in those markets offer a window on pricing and generally what a bid would need to be successful, Quirk said. Final Offer gives buyers an idea of the seller’s bottom price for consideration as well as their ceiling, or “final offer” price. Along with a listing price, sellers also include factors that can sweeten a bid like shorter closing windows and waiving mortgage or inspection contingencies – no, those buyer “love letters” all the rage these days
Number of Mortgages for Single-Family Homes
46 DINSMOOR POINT RD . . . . . . . . . . . . . . . . . . . . . . $2,650,000 B: Robert T Lancaster & Elizabeth A Lancaster S: David L Goolgasian Jr & Dianne E Goolgasian Mtg: Berkshire Bank $2,000,000 Use: 5 Bdrm Cape Cod, Lot: 56192sf
COUNTY
offer process and negotiation process and where things weren’t transparent,” said Tim Quirk, co-CEO of Final Offer, of how the platform came to be. “A lot of times, you could leave a transaction feeling a bit sour and wondering what happened there and asking, ‘Why couldn’t my client purchase the house, or did my client get the best and top dollar for their home?’”
NEW HAMPSHIRE MARKET STATISTICS
Gilford
PG
Final Offer, created by Boston-based real estate agents and tech experts, lets home sellers stipulate what they’re looking for from buyers’ offers.
May 19
May 20
May 21
Purchase
May 22
00
May 18 May
May May19
’18
’19
May May20
’20
May May21
May May22
’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.
Send submissions for consideration to
editorial@thewarrengroup.com.