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New Hampshire rank: 37 90+ Day 2.34% 2.36% -0.7% 90+ Day 3.10% year ago 3.85% percent point change -19.6% 15.4% Top Core-Based Statistical Area MANCHESTER-NASHUA, NH 90+ Day 2.32% year ago 2.31% percent point change 0.6% -11.8% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90- plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the August 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary August 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. 2.03% Delinquency Rate august 2012 1.79% Foreclosure Rate 3.03% Delinquency Rate Foreclosure Rate august 2012 1.95% year ago 2.11% percent point change -7.6% Top County SULLIVAN COUNTY Delinquency Rate august 2012 3.50% Foreclosure Rate Unemployment Rate 5.7% 5.5% 3.6% C. Berczuk, VP of servicer oversight and product development at Wells Fargo Corporate Trust. Minemier focused on the challenges posed by languishing owner-occupant sales in concurrence with rising rental demand and how the single-family housing market is adapting to this emerging dynamic. Minemier, speaking from her viewpoint shared by Cityside Management, took the position that rentals may outpace traditional sales as the need for practical foreclosure prevention is becoming more urgent. Minemier also discussed a silver lining to the changing housing landscape—how real estate professionals can easily learn to adapt and, ultimately, be successful in this emerging rental market environment. Also attending the Five Star Conference in wholesale trade and 500 in professional, scientific, and technical services provided a boost to New Hampshire's labor market. Other economic indicators were also positive, with the state's jobless rate falling 0.2 percentage points in 2012 as of the end of the year's second quarter. Monthly initial claims for unemployment insurance in the state have also trended downward in 2012, falling to 1,300 as of June. IHS said these samples of data "paint a picture of an economy that is improving, albeit at a very sluggish pace, compared to what we observed here through most of 2011." While New Hampshire's economy is from Cityside Management were Chris Dolloff, president, and Lionel Hotard, COO. Both gentlemen conveyed they are of the same opinion as Minemier, concurring that keeping people in their homes by being creative and innovative with rental options is a good way to go. Cityside Management is based out of IN THE NEWS Cityside Director Touts Rental Strategy for Alleviating Foreclosure Effects stabilization that only occupancy can remedy," Marlene Minemier, director of national portfolio management for Cityside Management Corporation, told colleagues at the 2012 Five Star Conference and Expo in September. "It is my belief that the emerging "Hard-hit markets are aching for Manchester, New Hampshire, with five field offices throughout the United States that support the company in providing its single-source portfolio management services to high-volume real estate owners, including government agencies and private institutions. Minemier and her colleagues at Cityside Management note that as sales of REO properties decline, the long-term vacancy of these properties leads to problems such as vandalism, decay, and other issues that can contribute to serious valuation decline. According to Cityside, conversion to rentals may be the best solution in many instances. IHS Puts New Hampshire Under Microscope REO rental model is a viable, real-world solution allowing tenancy to be an attractive preservation technique," Minemier said as she presented her position during a debate-style panel discussion entitled "Disposition Destiny: Will rentals outpace traditional sales?" Joining Minemier on stage in a discussion about how best to deal with distressed residential properties in today's market environment were Dr. Alex Villacorta, director of research and analytics for Clear Capital; Rick Sharga, EVP of Carrington Mortgage Holdings; and moderator John 96 presidential swing states took up New Hampshire's relatively shaky economy. Growth performance in the Granite State has been mostly unimpressive. The state's 0.4 percent average job gain for the first two quarters of the year included payroll shrinkage across a number of sectors, including manufacturing, retail trade, finance, administrative support, and healthcare. There are a few bright spots to point out, however. Net gains of 700 positions IHS Global Insight's examination of showing signs of improvement, home prices have yet to reflect that. The seasonally adjusted purchase-only index from the Federal Housing Finance Agency (FHFA) slipped 0.6 percent in the first quarter of 2012 and was more or less flat year-over- year. In addition, the National Association of Realtors' median price index for the Manchester-Nashua metro—often used as a measure of prices in New Hampshire's real estate market—opened the year with a 0.3 percent year-over-year decline. Despite the flatness in home prices, IHS' latest forecasts for the state call for a gradual pickup in home sales activity, which should provide a boost to prices. Single-family housing starts in the Granite State have trended upward during the past year, with the state opening 2012 with a 28 percent year- over-year gain in the second quarter. The multifamily market hasn't fared quite as well, however, with starts falling nearly two-thirds year-over-year as of Q2 2012. "Looking ahead, the path to complete recovery in the New Hampshire residential real estate market will be a long one. Home construction activity is expected to pick up considerably over the next few years—our forecasts call for average growth in total housing starts of 20 percent per year during the 2012-17 period, but will be unable to recoup its previous peak anytime soon," IHS said in its report. IHS added the near-term outlook for home prices is "a bit gloomy," and the company does not expect median prices to return to their peak until 2019. As far as labor, IHS forecasts New Hampshire's private-sector payrolls will expand 1.8 percent between Q2 2012 and Q2 2013. The state unemployment rate is expected to remain largely unchanged at approximately 5 percent through the middle of 2013, its progress hindered by the labor force's expansion.