News: Northern New England

Deadline to apply for grant from Franklin Savings Bank May 30th

Franklin, NH Franklin Savings Bank is currently accepting applications for its Fund for Community Advancement. All grant applications must be postmarked by May 30th for consideration and can be mailed, hand delivered to any branch location, or emailed to mybanker@fsbnh.bank.  Since 1997, the bank has awarded over $942,000 in grants to projects that have enhanced the lives of people in the communities it serves.

Eligible organizations must be recognized as tax exempt under section 501(c)(3) of the Internal Revenue Code, or be a school, municipality or other subdivision of government.  

Areas of support include, but are not limited to, affordable housing, education, health care, social services, arts and humanities, human services, along with programs or services addressing the needs of children, adolescents, elders, and single-parent families.  In addition, priority consideration will be given to programs and services that address the needs of low to moderate income families and individuals.

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Northern New England

November 2024 NH CIBOR president’s message: 10 tips for commercial real estate investors - by Ethan Ash

While many Realtors will tell you what you need to do in order to sell your residential property at the highest price (clean out the junk, update bathrooms and kitchens, paint, etc.) most people don’t get easy to follow guidance on what to do to help your commercial real estate sale. Other than that advice that I
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The Greater Portland industrial mid-year market update - by Nate Roop

The Greater Portland industrial mid-year market update - by Nate Roop

The industrial market in Maine remains robust, characterized by historically low vacancy rates. As of early 2024, the vacancy rate across the state is below 2%, indicating a continued imbalance between supply and demand. This tight market environment has kept lease rates strong, with many landlords in a favorable position. Asking rates are trending around $10.50 per s/f for
Maine multifamily outlook: Opportunities in Portland, Bangor, and Lewiston-Auburn - Blake Wright and Kristie Russell

Maine multifamily outlook: Opportunities in Portland, Bangor, and Lewiston-Auburn - Blake Wright and Kristie Russell

The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units. 

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The glut of unused (and to the owners, undervalued) office space because of the advent of work from home is in the process of becoming homes themselves. Though this is an officially supported trend in Boston and other northeast locations, the conversion
Interest rates and inflation - by Matthew Bacon

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As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.