Vol.42, No.43
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W E E K O F M O N D A Y, O C T O B E R 2 6 , 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
EXTRA CASH
Portsmouth 50 CATE ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,000,000 B: Cate Street LLC S: Cate St Development LLC Mtg: Newburyport Five Cent $9,150,000
Meredith 47 HAPPY HOMES RD. . . . . . . . . . . . . . . . . . . . . . . . . $2,350,000 B: Stone Bluff Prop Hldg LLC S: Ronald Coburn & Barbara Ann Colburn Use: Residential-other, Lot: 2329589sf
Dover
Banks Find Deployment Opportunities for Excess Liquidity Lenders Flooded with Deposits Since Pandemic Began BY BRAM BERKOWITZ SPECIAL TO REGISTRY REVIEW
871 CENTRAL AVE . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,230,000 B: Dover Realty Venturesllc S: SIC Property LLC Use: Restaurant/bar, Lot: 60113sf
North Hampton 203 LAFAYETTE RD. . . . . . . . . . . . . . . . . . . . . . . . . . . $2,130,000 B: Leemaebrant Realty LLC S: Joseph Roy Realty LLC Mtg: Granite St Econ Devel $1,574,000 Use: Auto Sales, Lot: 112820sf
Lyme 711 RIVER RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,950,000 B: Helena O Taylor & Stephen R Sullivan S: Jeffrey Kuvin & Emily Kuvin Mtg: Ledyard Natl Bk $1,462,500 Use: 3 Bdrm Contemporary, Lot: 936541sf
Center Harbor CENTER HARBOR NECK RD . . . . . . . . . . . . . . . . . . . . $1,900,000 B: Sara L Pascoe Tr, Tr for Sara L Pascoe RET S: James P Carty Jr Tr, Tr for James P Carty Jr LT MOUSE RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,900,000 B: Sara L Pascoe Tr, Tr for Sara L Pascoe RET S: James P Carty Jr Tr, Tr for James P Carty Jr LT Mtg: James P Carty T $600,000
Gilford 23 DOCKHAM SHORE RD . . . . . . . . . . . . . . . . . . . . . . $1,900,000 B: Stephanie Franklin & Kenneth Casey S: Amy K Kanyuk Tr, Tr for FTS RT
New Castle 92 ABIGALE LN. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,740,000 B: Adam D Hermon & Kathleen Hermon S: Richard E Landry Jr & Elizabeth B Landry Mtg: Bank of America NA $1,044,000 Use: 4 Bdrm Contemporary, Lot: 20255sf
Meredith 116 UPPER MILE POINT DR . . . . . . . . . . . . . . . . . . . . $1,520,000 B: John G Bratschi & Deborah Bratschi S: Joseph M Frassica Tr, Tr for Jos and Kath Frassica T Mtg: HarborOne Mortgage $800,000 Use: 4 Bdrm Cape Cod, Lot: 50530sf
W
hile excess deposits are far from a banker’s primary concern, they can become problematic when there’s nowhere to deploy them, a situation many banks find themselves in as credit has tightened and business lending customers tighten their own belts due to an uncertain economic future. But despite huge growth in deposits over the last year, banks across the state say they are finding ways to put their capital to work. Total deposits in New Hampshire grew to roughly $42.4 billion at the end of June of this year, according to the FDIC, a nearly 20 percent increase from June of 2019. The nation’s banking system has been flooded with deposits as a result of government stimulus efforts, money leaving the markets, and changing consumer spending habits. Initiatives like the Paycheck Protection Program, the $1,200 federal aid checks and enhanced unemployment benefits have added to customer deposit balances. Consumers are also holding more money than they used to. The personal savings rate in the U.S., the percentage of people’s incomes left after they pay taxes and spend money, hit 14.1 percent in August, up nearly double from a year ago, although down from earlier this year. “People’s spending habits have changed during the crisis,” said Bob Montgomery-Rice, president and CEO of Bangor Savings Bank. “They are not spending at the same level: They
REAL ESTATE RECORDS
500
3 Belknap �������������������������� 10/09/20 4 Carroll ���������������������������� 10/09/20 4 Cheshire ������������������������ 10/09/20 5 Coos �������������������������������� 10/09/20 6 Grafton ���������������������������� 10/09/20 7 Hillsborough ������������������ 10/09/20 10 Merrimack ���������������������� 10/09/20 10 Rockingham ������������������ 10/09/20 13 Strafford ������������������������ 10/09/20 13 Sullivan �������������������������� 10/09/20 14 Bankruptcies 14 Lien & Attachments 14 Foreclosure, Mortgagee & Other Lien Auctions 14 Requests for Bids & Proposals
400 400 300 300 200 200
Aug. Sept. Sept. Oct. Oct. Nov. Nov. Dec. Dec. Jan Jan. Feb. Feb. Mar. Mar. Apr. Apr. May May June June July July Aug. Aug. Aug. ’19
’20
Number 650 of Sales 650 575 575 500 500 425 425
350 350 275 275 200 200
Aug. Aug. ’15
Aug. Aug. ‘16
Aug. Aug. ’17
Aug. Aug. ’18
Aug. Aug. ’19
Aug. Aug. ‘20
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2020, according to the FDIC. That’s up 35 percent year-over-year and now gives Bangor Savings Bank 0.61 percent deposit market share in New Hampshire. Montgomery-Rice said while the bank did do a lot of PPP loans, about $28 million of that deposit growth was not PPP related, meaning it’s likely from a mixture of stimulus checks, increased consumer savings, and organic growth.
Number of Condo Sales
INDEX PG COUNTY
are not going on vacation, they are not going out to eat as much as they used to, they can’t go shopping as much as they used to and so banks across the country have all sort of seen their deposits balloon.” Bangor Savings Bank, which is based in Maine but broke into the New Hampshire market with its purchase of Granite Bank in 2018, saw deposits in New Hampshire grow to more than $260 million at the end of June in
New Hampshire Market Statistics
Moultonboro 141 SWALLOW POINT DR. . . . . . . . . . . . . . . . . . . . . . $1,300,000 B: B: Guy A Pederzani Jr Tr, Tr for Guy&Candace Pederzani T S: Brendan J Moynihan & Kendall P Moynihan
Banks across the state are trying to figure out what to do with the roughly $8.44 billion increase in customer deposits statewide caused by the COVID-19 pandemic.
Year
Number of Sales
Change Prior Year
Aug. 2015 Aug. 2016 Aug. 2017 Aug. 2018 Aug. 2019 Aug. 2020
474 524 609 558 487 514
5.33% 11% 16.2% -8.37% -12.72% 5.54%
q Statistics based on condominium sales over $1,000 q Source: The Warren Group
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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 access and courts close down, we anticipate further collection issues and as a result you will see fewer sales, notices and liens in The Registry Review. 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