Vol.44, No.38
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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 9 , 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
B U Y I N G C L I M AT E
Holderness 32 GREG POINT RD. . . . . . . . . . . . . . . . . . . . . . . . . . . $8,000,000 B: William F Monaghan & Alison S Monaghan S: Cyrus W Gregg Tr, Tr for Ella C Gregg T Mtg: Meredith Vlg Svgs Bk $5,600,000 Use: Residential-multiple Bldgs, Lot: 139392sf
Hudson 161 LOWELL RD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $6,600,000 B: Lowell Rd Prop Owner DE LLC S: Peter Horne Tr, Tr for 5 Way RT
Large Study: Home-Searchers Put Off by Flood Risks Researchers Say Reactions Are Foretaste of Shifts to Come BY JAMES SANNA
Rye
REGISTRY REVIEW STAFF
19 SEA ROAD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,350,000 B: Judith A Jellinek Tr, Tr for Judith A Jellinek RET S: Stephen A Johnson & Francesca R Lion
study of 17.5 million prospective homebuyers paints a concerning picture for home sellers in flood-prone areas. Buyers looking for homes among portal site Redfin’s listings became substantially less likely to make offers on high-risk homes after gaining access to flood risk data on home listings, developed by the First Street Foundation. The three-month, randomized, controlled trial saw the listing company’s “Flood Factor” flood-risk assessment tool included in listings seen by half the users involved, with the other half unable to see the tool. “We now have definitive evidence that the risks posed by climate change are affecting where Americans choose to live. Before Redfin’s experiment, that was just a hypothesis,” Redfin Chief Economist Daryl Fairweather said in a statement. “As more house hunters become aware of climate risk, homes in endangered areas will likely receive fewer offers, causing home values to fall. At the same time, we may see prices in lower-risk, inland areas rise as more Americans move there to avoid flooding.” Users who viewed homes with an average risk score of 8.5, denoting an extreme risk of flooding, prior to the study went on to bid on
Campton 0 RIVERSIDE DR. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,000,000 B: 2 Rivers Mobile Home Cmty Coop Inc S: Foothills Estates LLC
Holderness 752 US ROUTE 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,400,000 B: Shanna M Theriault Tr, Tr for Shanna M Theriault 2021 T S: Anne H Danforth Tr, Tr for Jane Bindley RET Use: 4 Bdrm Ranch, Lot: 41818sf
Wolfeboro 79 SUNSET POINT RD. . . . . . . . . . . . . . . . . . . . . . . . . $3,100,000 B: Daniel F Weidner Tr, Tr for Daniel F Weidner T S: Robert B Ftorek & Wendy J Ftorek Mtg: Rocket Mortgage LLC $1,860,000 Use: Residential-multiple Bldgs, Lot: 92347sf
Bedford OLD BEDFORD RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,801,000 B: Brook Hollow Corp S: Roman Catholic Bishop of Manchester
Newbury 213 BAY POINT RD. . . . . . . . . . . . . . . . . . . . . . . . . . . $2,600,000 B: Scott Zink S: T Joseph Goodnough Mtg: Mascoma Bank $2,080,000 Use: 3 Bdrm Contemporary, Lot: 13068sf
Freedom 61 PACKARD DRIVE . . . . . . . . . . . . . . . . . . . . . . . . . . $2,515,000 B: Kerry E Benenato Tr, Tr for Kerry & Brian Benenato LT S: Deborah K Tentindo & Stephen R Tentindo
Holderness 10 PERCH IS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,500,000 B: Michael A Bass Tr, Tr for GH T S: Cyrus W Gregg Tr, Tr for Ella C Gregg T
A
3 4 4 5 5 6 9 10 12 13 14 14 14 14
However, Redfin researchers cautioned that the behavior changes they observed only seemed to affect buyers who were already looking at homes with a severe risk of flooding, not buyers looking at less-risky homes, suggesting that buyers may only pay attention to flood risk if it’s substantial.
Single-Family Median Sales Price $450,000 450000
$400,000 400000
REAL ESTATE RECORDS COUNTY
Severe Threats Caused Buyer Reaction
But giving buyers access to flood risk data also seemed to increase their sensitivity to flood risk over time. Buyers who were viewing extremely at-risk homes, who then suddenly got access to flood risk data on home listings, shifted to looking at slightly less-risky homes, Redfin said. The effect increased over time, Redfin said, with buyers opting for homes with 7 percent less risk than the control group after one week and 27 percent less risk after nine or more weeks. “Climate-risk data may start to have an even bigger impact on homebuyer decisions now that the housing market is slowing and
$425,000 425000
INDEX PG
homes with an average score of 3.9, denoting a moderate risk, after gaining access to the flood risk data. By comparison, users who viewed homes with the same flood risk factor, but who did not get access to the flood risk data, continued to bid on those risky homes.
NEW HAMPSHIRE MARKET STATISTICS
Conway 738 EASTMAN RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,200,000 B: Omni MWV RE LLC S: Hills Realty Inc Mtg: Union Bank $1,100,000 Use: Auto Other, Lot: 104980sf
Giving buyers access to flood risk data also seemed to increase their sensitivity to flood risk over time.
TRANSACTIONS THRU
Belknap �������������������������� 09/02/22 Carroll ���������������������������� 09/02/22 Cheshire ������������������������ 09/02/22 Coos �������������������������������� 09/02/22 Grafton ���������������������������� 09/02/22 Hillsborough ������������������ 09/02/22 Merrimack ���������������������� 09/02/22 Rockingham ������������������ 09/02/22 Strafford ������������������������ 09/02/22 Sullivan �������������������������� 09/02/22 Bankruptcies Lien & Attachments Foreclosure, Mortgagee & Other Lien Auctions Requests for Bids & Proposals
$375,000 375000 $350,000 350000 $325,000 325000 $300,000 300000
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July Aug. Aug. Sept. Sept. Oct. Oct. Nov. Nov. Dec Dec. Jan. Jan. Feb. Feb. Mar. Mar. Apr. Apr. May May June June July July July ’21
’22
Number 450000 $450,000 of Sales 400000 $400,000
Year
Median Price
Change Prior Year
350000 $350,000
July 2018
$265,000
5.16%
300000 $300,000
July 2019
$282,000
6.42%
250000 $250,000
July 2020
$305,000
8.16%
July 2021
$364,933
19.65%
July 2022
$415,000
13.72%
200000 $200,000
Continued on Page 16
July
July ’18
July
July ’19
July
July ’20
July
July ’21
July
July ’22
q Statistics based on single-family home sales of $1,000 q Source: The Warren Group
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