Vol.42, No.48
www.thewarrengroup.com
W E E K O F M O N D A Y, N O V E M B E R 3 0 , 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
LENDING REVIEW
Litchfield 476 CHARLES BANCROFT HWY. . . . . . . . . . . . . . . . . $6,750,000 B: GAB Litchfield LLC S: S&L Projects LLC
Rye 295 LAFAYETTE RD. . . . . . . . . . . . . . . . . . . . . . . . . . . $5,500,000 B: BSL Rye Investors LLC S: Evolve At Rye LLC Mtg: HarborOne Bank $9,249,000 Use: Nursing Home, Lot: 253519sf
Record Business a Bright Spot in Tough Year BY BRAM BERKOWITZ SPECIAL TO REGISTRY REVIEW
Hampton 35 DOVER AVE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,230,000 B: Michael Ward & Christine Ward S: Helena B Barthell & Burley O Barthell Use: 4 Bdrm Conventional, Lot: 5227sf
Portsmouth 292 MIDDLE RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$2,100,333 B: Robert Hillman & Katric Hillman S: Diana K Kirkpatrick & David J Kirkpatrick Mtg: Partners Bank $1,680,000 Use: 4 Bdrm Conventional, Lot: 33541sf
Tuftonboro 230 GOVERNOR WENTWORTH HWY. . . . . . . . . . . . . . $1,986,533 B: Michael Southworth & Deborah Southworth S: Joseph Bladecki Sr & Jordan Bladecki Use: 3 Bdrm Conventional, Lot: 33106sf
Moultonboro 66 ALPINE PARK RD. . . . . . . . . . . . . . . . . . . . . . . . . . $1,935,000 B: APR 66 LLC S: Colonial Pines LLC
Kensington 4 HICKORY LN. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,625,000 B: Justin Mclane & Angeline Mclane S: Charles J Chapman 4th Tr, Tr for Charles J Chapman 4th RET
Hanover 45 RIP RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,500,000 B: David R Barrette & Kaitlyn S Barrette S: Michael S Paquette
North Hampton 17 COTTON FARM LN . . . . . . . . . . . . . . . . . . . . . . . . . $1,499,000 B: Richard G Courville & Denise I Courville S: Makena B Herget Tr, Tr for Makena B Herget 1983 T
Freedom 127 HAVERHILL ST. . . . . . . . . . . . . . . . . . . . . . . . . . . $1,495,000 B: Irene O Hou Tr, Tr for Irene O Hou 2011 RET S: David L Goolgasian Jr & Dianne E Goolgasian Mtg: CMG Mortgage Inc $1,121,250 Use: 3 Bdrm Log, Lot: 25265sf
Wolfeboro 367 GOVERNOR WENTWORTH HWY. . . . . . . . . . . . . . $1,464,000 B: Joseph D Mceachern & Deidre M Mceachern S: Arthur Fraumeni Tr, Tr for Fraumeni FT
B
anks have had plenty of challenges in 2020 including lower commercial loan demand, less net interest income in the ultra-low-rate environment, and higher credit costs as a result of the coronavirus pandemic. But if there has been one silver lining, it’s in the mortgage department where loan volume has surged. Specifically, refinancing loan volume has exploded since the Federal Reserve in March dropped its benchmark lending rate to practically zero, reaching higher levels than perhaps any other time in history. New Hampshire has certainly benefited from the trend. Through the first nine months of the year, financial institutions in the Granite State have seen $17.24 billion in total residential refinancing volume. It makes sense, considering that the mortgage data firm Black Knight estimates that total mortgage nationwide volume in 2020 could surpass a record $4 trillion, driven by record refinancing volume and the highest purchase lending volume since 2005. One bank in New Hampshire that has done well is Meredith Village Savings Bank, a subsidiary of New Hampshire Mutual Bancorp (NHMB), which is also the holding company for Merrimack County Savings Bank and Savings Bank of Walpole. Through the first nine months of the year, the bank processed 431 refinance applications for total volume of close to $111 million, ac-
With mortgage interest rates plummeting, lenders of all stripes have had more refinance business than they know what to do with. But as the boom wanes, increased competition looms.
cording to data from The Warren Group, publisher of the Registry Review. Carol Bickford, senior vice president and retail lending officer for all of NHMB, says the nine-month period of refinancing volume this year by far blows away any other comparable period. “Residential has been the business of the year,” she told the Registry Review. “With the low inventory that we see, I think if rates stay
low, we could still see good volume into next year. We are very busy with construction loans as well because there is not a lot of inventory, so they are building.” Bickford said the bank didn’t need to do a lot of marketing or advertising to secure the business. In fact, the bank chose to actually keep its mortgage rates a little bit higher around 3% to slow volume, she said.
WHO’S THE BEST?
Single-Family Sales By Month
The Registry Review’s Reader Choice Awards!
2,000 2000
TRANSACTIONS THRU
3 Belknap �������������������������� 11/13/20 4 Carroll ���������������������������� 11/13/20 5 Cheshire ������������������������ 11/13/20 5 Coos �������������������������������� 11/13/20 6 Grafton ���������������������������� 11/13/20 7 Hillsborough ������������������ 11/13/20 9 Merrimack ���������������������� 11/13/20 10 Rockingham ������������������ 11/13/20 12 Strafford ������������������������ 11/13/20 13 Sullivan �������������������������� 11/13/20 14 Bankruptcies 14 Lien & Attachments 14 Foreclosure, Mortgagee & Other Lien Auctions 14 Requests for Bids & Proposals
1,250 1250 1,000 1000 750 750 500 500
Oct. Nov. Nov. Dec. Dec. Jan. Jan. Feb. Feb. Mar. Mar. Apr. Apr. May May June June July July Aug. Aug. Sept. Sept. Oct. Oct. Oct. ’19
’20
Number 1800 of 1,800 Sales 1700 1,700 1600 1,600 1500 1,500 1400 1,400
1,300 1300 1,200 1200
Introducing
W
1,500 1500
REAL ESTATE RECORDS
Continued on Page 16
New Hampshire Market Statistics
1,750 1750
INDEX PG COUNTY
Refis Soared in 2020, But Can Boom Continue?
Oct. Oct. ’15
Oct. Oct. ’16
Oct. Oct. ’17
Oct. Oct.
’18
Oct. Oct. ’19
Oct. Oct. ’20
Oct. 2015 Oct. 2016 Oct. 2017 Oct. 2018 Oct. 2019 Oct. 2020
Number of Sales
Change Prior Year
1,507 1,672 1,739 1,536 1,619 1,556
14.51% 10.95% 4.01% -11.67% 5.4% -3.89%
q Statistics based on single-family home sales of $1,000 q Source: The Warren Group
©2020 The Warren Group Inc. All rights reserved. No part of this publication may be reproduced without the written consent of the publisher.
e’re looking for the best companies in New Hampshire to recognize them for providing the best products and professional services. Winners aren’t determined by who conducts the most business, who has the most revenue or serves the most customers. Instead, it measures the loyalty and satisfaction they provide their customers. And as a Registry Review reader, we know you’re an insightful consumer, and we need to hear your opinion – this is your opportunity to speak up for those providers they believe are the best. Ballots may be cast at https://www. theregistryreview.com/rr-best-voting. Voting will close soon and results will run in December. One vote per person. We look forward to seeing who you think is The Best in 2020!