Summer is waining as we look forward to the rest of the years opportunities. Sales didn't take a vacation, as you will note from the significant increase of year to date volume. While there are fewer NHCIBOR members, those that continue to lead the market are benefiting from a much stronger demand. The Fall season looks to be very busy for the NHCIBOR membership with the third quarter meeting coming up with an exciting agenda.
Summer sales help pull 2011 well ahead of 2010 with better than a 63% increase. 2011 sales revenues to-date of $81,461,849 well exceeded the 2010 volume of $49,820,901. Agents I speak to say the closings take longer and we do more work for the fees. However, the rest of the year looks like the activity will continue to hold at this new rate.
In an interesting contrast to the revenue numbers, NHCIBOR membership is down. With the 11% loss of membership the board faces a number of tough decisions over the next couple of months pertaining to 2012. The discussion I have had with those not renewing site lower income and the rising cost of doing business. Interesting points considering the significant increase in market revenues.
The fall season looks to be a great one for NHCIBOR members. The third quarter meeting will meet at the Lobby of New England Footwear, 55 Main St., Newmarket Mills, Newmarket, on Sept. 9 at 8:30 am - 12:30 pm with a full breakfast buffet.
The Panel:
* Eric Chinburg, Chinburg Builders, developer
* Diane Hardy, town of Newmarket, planning director
* Jamie Thompson, Kennebunk Savings Bank, vice president corporate lending
* Gary Smith, Independent Fabricators & Bailey Works, owner/tenant
* Arlon Chafee, past partner, Warren & Morris Ltd.; founding member eCoast Angels; co-founder LOCO Sports; chair of the Newmarket Development Corp.
The program will evolve around the revitalization of the Newmarket Mills. The mills were purchased by Chinburg and are being redeveloped into commercial and residential spaces. The program/course will outline the process required to get a project of this nature started and completed and review the parties involved. This project required cooperation from the town planning, accesses Newmarket Tax Credits as well as other grants. There will be a pedestrian bridge constructed to access across street parking for residents and that bridge is a result of a private, public partnership and grants. There is also a waterfront component to the project providing public access to the Lamprey River as well as a private space for residents. By meeting time, they should have 35,000 s/f of commercial space occupied and a fair amount of the residential apartments near completion. The program will conclude with a tour of the building and site.
NHAR holds its annual convention in Portsmouth this month. We look forward to supporting the Seacoast location as well as the many opportunities to further our education and networking.
Bob Anderson is the 2011 president of the NH CIBOR chapter and is with Prudential Verani Realty, Portsmouth.