Vol.42, No.49
www.thewarrengroup.com
W E E K O F M O N D A Y, D E C E M B E R 7 , 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
W AT C H I N G , W A I T I N G
Lenders Wait for Pandemic’s Effects on Balance Sheets
Wilton 19 STONEY BROOK DRIVE . . . . . . . . . . . . . . . . . . . . . $4,000,000 B: UFP Real Estate LLC S: Stoney Brook LLC
Portsmouth 129 STATE ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,750,000 B: 129 State Street LLC S: Bear Lake Realty Ltd Use: 3 Bdrm Antique, Lot: 3049sf
Forbearance, PPP Income Pushes Problems Into 2021
Winchester
BY DIANE MCLAUGHLIN REGISTRY REVIEW STAFF
30 WARWICK RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,400,000 B: Mahavir LLC S: Kulicks Inc Mtg: Partners Bank $2,704,000 Use: Commercial Building, Lot: 723096sf
A
s another wave of COVID-19 cases threatens to deepen the nation’s twin public health and economic crises, Massachusetts community banks and credit unions continue to face uncertainties about how the coronavirus could affect their institutions. Nine months into the pandemic, community banks and credit unions have yet to see the full impact of the virus on their loan portfolios and balance sheets. As the country awaits perhaps the only solution to controlling the pandemic – the rollout of vaccines to a wide segment of the population – lenders are looking at how their customers will fare in the coming months and whether there are new lending opportunities out there. “When I talk to many banks and boards, I think in general everybody is pretty confident that they’ve got their arms around what [loans] they’re writing today, and they’re looking at it prudently and through the lens of being in a recession, this COVID recession,” said Jeffrey Reynolds, a managing director at Massachusetts-based Darling Consulting Group. “But there’s still this overhanging, gnawing feeling that credit could be an issue,
Wolfeboro 66 SEWALL RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,900,000 B: Carlisle Holdings 66 LLC S: William C Greene Tr, Tr for 66 Sewall Road RT Use: 5 Bdrm Conventional, Lot: 27007sf
Tuftonboro GOVERNOR WENTWORTH HWY L:2 . . . . . . . . . . . . . . $2,555,066 B: Scott R Kelly Tr, Tr for Scott R Kelly T S: Daniel J Smith & Pamela J Smith
Rye 1399 OCEAN BLVD . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,940,000 B: Colin Mcgee & Kara Mcgee S: Linda J Chestney Tr, Tr for Linda J Chestney RET Mtg: Key Bank NA $1,455,000 Use: 2 Bdrm Contemporary, Lot: 22588sf 229 SAGAMORE RD . . . . . . . . . . . . . . . . . . . . . . . . . . $1,900,000 B: Beth A King Tr, Tr for Beth A King 2010 T S: Richard L Strott & Debra L Strott
New Castle 108 ABIGALE LN. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,900,000 B: Michael W Dvorak Tr, Tr for Cynthia L Dvorak RET S: David M Godfrey Tr, Tr for David M Godfrey RET Mtg: Service Credit Union $220,000 Use: 3 Bdrm Cape Cod, Lot: 21301sf
Moultonboro 22 WATSON SHORE RD. . . . . . . . . . . . . . . . . . . . . . . . $1,725,000 B: William M Koffel & Jennifer M Koffel S: John J Shea Tr, Tr for John J Shea RET Mtg: Northern Bk & Tr $1,380,000 Use: Residential-multiple Bldgs, Lot: 39640sf
Meredith 147 UPPER MILE POINT DR . . . . . . . . . . . . . . . . . . . . $1,650,000 B: Karl J Slivka Tr, Tr for Slivka FT S: Susan L Pollak & Anthony G Pollak Mtg: Bank of America NA $1,000,000 Use: 3 Bdrm Contemporary, Lot: 39640sf
Problems Next Year? At the start of the pandemic, financial regulators let lenders modify loans for customers affected by the pandemic without having to account for them as troubled-debt restructuring, which let community banks and credit unions assist customers without worrying
about accounting implications or consequences with bank examiners. “Forbearance provided banks a get-out-ofjail-free card on having to classify loans that needed some assistance in the early stages of the pandemic,” Reynolds said. “I think it worked in allowing a lot of borrowers some time to find their way in the COVID economy, and the regulatory community and accounting
Number of Mortgages for Single-Family Homes
547 STATE ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,505,000 B: DF State Street LLC S: Peter N Floros Tr, Tr for PNF T Mtg: Peter N Floros $1,405,000
INDEX 3000
Both e’re
WRefinance
Refinance Purchase
8,000 8000
2000
REAL ESTATE RECORDS 1000
TRANSACTIONS THRU
6,000 6000
Jan. Feb. MarchApril May June July Aug. Sept. Oct. Nov. Dec. Jan.
3 Belknap �������������������������� 11/20/20 4 Carroll ���������������������������� 11/20/20 5 Cheshire ������������������������ 11/20/20 5 Coos �������������������������������� 11/20/20 6 Grafton ���������������������������� 11/20/20 7 Hillsborough ������������������ 11/20/20 9 Merrimack ���������������������� 11/20/20 11 Rockingham ������������������ 11/20/20 13 Strafford ������������������������ 11/20/20 14 Sullivan �������������������������� 11/20/20 14 Bankruptcies 14 Lien & Attachments 14 Foreclosure, Mortgagee & Other Lien Auctions 14 Requests for Bids & Proposals
4,000 4000 2,000 2000
00
5000 4000 3000 2000 1000
0
Jan. 15
Jan. 16
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
6000
Jan. 17
7000 7,000 6000 6,000 5000 5,000 4000 4,000 3000 3,000 2000 2,000 1000 1,000 00
Jan. 18
WHO’S THE BEST? Introducing
Both
10,000 10000
4000
Continued on Page 16
The Registry Review’s Reader Choice Awards!
12,000 12000
5000
0
and I think that that has probably picked up because of this third wave of infections.”
NEW HAMPSHIRE MARKET STATISTICS
Portsmouth
PG COUNTY
With cash accumulating as customers save more and forbearances reliving pressure on balance sheets, banks are trying – but not always succeeding – to find investment opportunities.
’20
BothMonth
Both
Purchase
Refinance
Both
Oct. 2016
1,260
2,524
3,784
Oct. 2017
1,379
2,158
3,537
Oct. 2018
1,241
1,849
3,090
Oct. 2019
1,414
3,186
4,600
Oct. 2020
1,439
4,949
6,388
Refinance
Refinance
Purchase
Purchase
Jan. 19
Oct. 16 Oct.
Oct. Oct.17
Oc. Oct.18
Oct. Oct.19
Oct. Oct.20
’16
’17
’18
’19
’20
❑ Statistics based on single-family home sales ❑ 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.
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