The residential real estate business is booming right now, and this includes 1-4 unit multifamily properties as well as larger 5+ unit multifamilies. Single family homes have seen their heyday recently with little inventory and plenty of competition. While there have always been plenty of individuals looking to invest in multis, this number has recently increased, especially on smaller multifamily properties. With people being out of work due to layoffs and furloughs, many are going to look to offload their large mortgages and get into something more affordable.
One of the sectors of commercial real estate that seems to be surviving through this pandemic is the industrial sector, despite having to shut down for a period of time.
In June we saw:
• higher list-to-close ratios for sales AND leases
Normalcy in everyday life certainly seems like a distant dream for most of the United States right now. With radical changes to how we work, shop, eat and otherwise live thrown at the country so suddenly, one thing is for certain – the way we go about our lives is going to be very different once the dust has settled from this COVID-19 pandemic.
In this installment of Market Monday, we're looking at industrial properties in New Hampshire through the beginning of 2020 and how they may fair through the first half of the year.
Lucciano‘s Italian Ristorante & Bar has leased 5,100+/- SF adjacent to Shaw’s Supermarket. Owned and operated by Tina and Lou Hatsiandrou the new space is almost triple the size of their previous restaurant where they built up a local following and reputation for offering gluten free pastas and baked goods for 20 years. The new restaurant has 164 seats and a custom-designed wooden bar top that seats an additional 18 guests.
Multi Family Market Monday update!
While the multi family market remains strong into 2020, February did see a little dip in average selling price AND the number of 4+units sold.
This is the first weekly installment of "Market Monday" and to kick it off, we're taking a quick peek at some trends in the Office sector for February for NH.
Congratulations to the NH House of Representatives Municipal & County Government Committe for passing HB1629 and HB1632 addressing affordable workforce housing in the State. These bills will be voted on by the full House in the next session.
Berkshire Hathaway Home Services Verani Realty agents, staff and guests gathered Friday night, January 31, for a fun and festive 20s themed evening of dinner, dancing and celebration at the Doubletree by Hilton Hotel in downtown Manchester. The annual event celebrates the top performers for the brokerage in the year prior. The Commercial Division came away from the evening with six awards for its Advisors.
Change is inevitable. Over time we all age, and this is also true for real estate. In 1986, the Pheasant Lane Mall opened their doors to the public and, at the time, it was the only mall in the Southern New Hampshire area. People drove for miles from up north and Massachusetts to come to this major destination point. Over time, businesses began to pop up along the Daniel Webster (DW) Highway corridor in Nashua. With New Hampshire being a “tax free” state, this area experienced tremendous growth!
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