Vol.42, No.37
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W E E K O F M O N D A Y, S E P T E M B E R 1 4 , 2 0 2 0
THE REGISTRY REVIEW NEW HAMPSHIRE’S STATEWIDE REAL ESTATE & FINANCIAL NEWSPAPER A Publication of The Warren Group
WEEKLY SALES OF NOTE
FA S T 5 0
Despite Pandemic, Some Lenders Found Room to Grow
Seabrook 233 RTE 107. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $6,059,733 B: MHC 83 LLC S: Curatolo Seabrook LLC
Wolfeboro 27 UMBRELLA PT. . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,100,000 B: Stephen W Tansey & Jennifer Tansey S: John P Clancey Use: 1-Family, Lot: 130680sf
Bright Spots in Residential Could Continue for Some Time BY BRAM BERKOWITZ
Tilton
SPECIAL TO REGISTRY REVIEW
W
96 E MAIN ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,090,000 B: LAL Property 1 LLC S: Tilton Manor LLC Mtg: M&T Bank NA $2,632,000 Use: Residential Open Land, Lot: 261360sf 80 E MAIN ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,090,000 B: LAL Property 1 LLC S: Tilton Manor LLC Mtg: M&T Bank NA $2,632,000 Use: 3 Bdrm Ranch, Lot: 108900sf
hile most financial institutions likely spent much of the first half of the year focusing on credit quality and the Paycheck Protection Program, some banks and credit unions still managed to find time to grow their loan books during the coronavirus pandemic. The Fast 50, compiled from data collected by The Warren Group, publisher of The Registry Review, reveals the 50 fastest growing lenders in New Hampshire for the first six months of the year, compared with the first six months of 2019. In late 2018, Metro Credit Union, which is based in Chelsea, Massachusetts and holds over $2.4 billion in assets, expanded its field of membership into Southern New Hampshire to include Rockingham and Hillsborough counties. The move is already paying dividends. Metro originated 34 residential loans for a total volume of more than $9.2 million, representing a 367 percent increase from the first six months of 2019, according to data from The Warren Group. The Fed’s decision to rapidly drop the Federal Funds Rate from 2 percent to zero in March triggered a wave of refinancings, and then purchase activity began to accelerate later in the second quarter as more of the economy slowly re-opened, said Robert Cashman, presi-
Rochester 401 N MAIN ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,035,066 B: 401 North Main LLC S: Dicks Realty Inc
Wolfeboro 40 STONEHENGE ROAD. . . . . . . . . . . . . . . . . . . . . . . . $3,000,000 B: Funny Farm Ventures LLC S: Kathryn M Nicholson Tr, Tr for Arrowhead NT
Portsmouth 129 STATE ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,750,000 B: Bear Lake Realty LTD S: Anthony S Belisle Use: 3 Bdrm Antique, Lot: 3049sf
Bedford 12 KNOLL CREST DR. . . . . . . . . . . . . . . . . . . . . . . . . . $2,500,000 B: Kenneth Rosenfield Tr, Tr for Kenneth Rosenfield RET S: Philip B Healy Tr, Tr for Maximus RT
Tuftonboro 18 ELM PT. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,370,000 B: Benjamin T Downs & Jeanne F Downs S: Joanne E Green Tr, Tr for Joanna E Green 1998 RET
Newington 19 NIMBLE HILL RD . . . . . . . . . . . . . . . . . . . . . . . . . . $1,915,000 B: 19 Nimble Hill Realty LLC S: HD Caswell Properties LLC
ments in their home. Some of these loans are for improvements.” Cashman also said a lot of customers sought pre-approval for mortgages, which greatly helped them in a market characterized by record low inventory. “I think the pre-approval process has really helped us in getting people ready to go, and I think that’s where a lot of our volume came from,” he said.
T
$1,600 1600
800
Both
INDEX 600
Refinance
$1,200 1200
400
REAL ESTATE RECORDS TRANSACTIONS THRU
0
Feb Mar Apr May Jun Jul Aug Sep Oct 3 Belknap �������������������������� 08/31/20 4 Carroll ���������������������������� 08/31/20 5 Cheshire ������������������������ 08/31/20 6 Coos �������������������������������� 08/31/20 7 Grafton ���������������������������� 08/31/20 8 Hillsborough ������������������ 08/31/20 11 Merrimack ���������������������� 08/31/20 12 Rockingham ������������������ 08/31/20 15 Strafford ������������������������ 08/31/20 15 Sullivan �������������������������� 08/31/20 16 Bankruptcies 16 Lien & Attachments 16 Foreclosure, Mortgagee & Other Lien Auctions 16 Requests for Bids & Proposals
$800 800 $400 400
Both Refinance
1200 $1,200
250
Feb. 16
Feb. 17
Feb. 18
600 $600 300 $300
$00
July July16
’16
Month
Purchase
Refinance
Both
Both
July 2016
$303
$353
$656
July 2017 Purchase
$419
$308
$727
July 2018
$453
$255
$708
July 2019
$472
$435
$907
July 2020
$504
$952 $1,456
Refinance
Purchase
900 $900
125
Feb. 15
’20
1500 $1,500
375
Feb. 14
July Aug Aug. Sept. Oct. Nov. Dec. Jan Jan. Feb Feb. Mar Mar. Apr Apr. May May June June July July July Sep Oct Nov Dec ’19
500
0
Purchase
Nov Dec. Jan Feb
$0 0
July July17
July 18 July
July 19 July
July 20 July
’17
’18
’19
’20
Continued on Page 17
TO OUR CUSTOMERS
Volume of Mortgages for Single-Family Homes
90 SCENIC DR. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,837,000 B: Timothy Mccarthy & Chris A Dalesandro S: Kimberly A Foley Tr, Tr for Kimberly A Foley 2018 T Mtg: Primary Residentl Mtg $400,000 Use: 4 Bdrm Contemporary, Lot: 24394sf
200
dent and CEO of Metro Credit Union. “I still think there is limited supply on the market because people are hesitant to move right now, and that’s why you are seeing a lot of people maybe borrow money; pull some money out; do a home equity to refinance their home and maybe upgrade their home to spend a little bit more time there,” Cashman said. “They want to do improvements or realize they may be at home a little bit more time than normal, and as such, are making invest-
New Hampshire Market Statistics
Gilford
PG COUNTY
Despite the tough economy brought by the COVID-19 pandemic, many banks and credit unions found ways to grow their loan volume dramatically during the first six months of 2020.
❑ Dollar amounts in millions ❑ Source: The Warren Group ❑ Statistics based on single-family home sales
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he Warren Group is making every reasonable effort to collect real estate data during these unprecedented times. As more registries restrict acBoth cess and courts close down, we anticipate further collection issues and as Refinance a result you will see fewer sales, notices and liens in The Registry Review. Purchase We will publish this information as it is available. We apologize for any inconvenience this crisis may cause, and we thank you for your understanding and continued support of our newspapers. Please call or email customer service at 617-896-5388 or customerservice@thewarrengroup.com if you have any questions. All collection issues are also available on our website, www.thewarrengroup.com/data-collection-issues. Sincerely, Cassidy Norton, Associate Publisher The Warren Group