August 18, 2014 |
One in a continuing series spotlighting real estate markets in the region's communities. If a wealthy descendant of the original Swedish settlers had not dug in his heels, this borough on the Jersey side of the Delaware River from Tacony would still be called Texas . But landowner Isaiah Toy considered that name, given to the stretch of Burlington County shoreline by the Camden & Amboy Railroad, "inappropriate" and, the official...
August 17, 2014 |
Renting can set you free. I'm quoting part of a conclusion by Jed Kolko, chief economist of the real estate search engine Trulia. The full quote: "Homeownership may have many advantages, but renting might make it easier to cut housing costs if it suddenly becomes necessary. That's an important way that renting can set you free. " Since the housing bubble burst, residential real estate has shifted in favor of rentals, at least in the short term, Moody's Analytics chief economist Mark Zandi noted recently.
August 8, 2014 |
IF YOU WANTED to buy a house and maybe you were concerned that you might not have had the wherewithal to attain what has always been part of the American dream, you needed to see Clarence R. Fisher Jr. Clarence Fisher was a real-estate broker with a heart. He would bend over backward, try every financial device, to fulfill your dream of home ownership. "He wanted to make sure people got their homes," said his daughter, Tracy Worley. "He was a man of integrity, a man of his word.
August 1, 2014 |
A SWINDLER who sold houses he didn't own has a new home himself: the state correctional system. Eric Tubbs, 54, was sentenced Wednesday to nearly six years in prison for the fraud, the U.S. Attorney's Office announced yesterday. Tubbs, of Philadelphia, pleaded guilty in federal court April 22 to seven counts of wire, mail and bank fraud, identity theft and money laundering, U.S. Attorney spokeswoman Patti Hartman said. For years, Tubbs operated a fairly detailed scheme: He would find vacant properties throughout the city, write up fake deeds for them and then transfer ownership of the empty houses to his cohorts, Hartman said.
July 29, 2014 |
Peter D. Quick, 69, of Haddonfield, a former real estate executive for Philadelphia regional banks, died of cardiac arrest on Saturday, July 19, while vacationing in Ocean City, N.J. A graduate of Collingswood High School, where he played on the football team, Mr. Quick attended Susquehanna University before serving in the Army in Vietnam. He returned to complete his undergraduate studies and earn a bachelor's degree at Temple University, his wife, Sharon, said. He began his banking career at Continental Bank in Philadelphia and retired from Midlantic Bank after Midlantic Corp.
July 15, 2014 |
All signs point to the recovery of the region's real estate market after nearly eight years in the tank. With inventory short, real estate agents report sales within percentage points of asking prices, and multiple bids on properly priced listings in move-in condition. Not everyone is benefiting, however. Ask Larry Golub, of Trevose; Gayle Whittle, of Oreland; and Wendy Wirsch, of Warrington. "We've had our home on the market for over three years now, with no showings for over seven months," said Golub, whose high-end manufactured home in Trevose cost $135,000 when it was new seven years ago. Price reductions for his "as-new home" - now listed at $92,000 - haven't helped, said Golub, who lives in the Neshaminy School District.
June 6, 2014 |
Two Fox Rothschild L.L.P. lawyers are accused in a Maryland lawsuit of aiding a fraudulent real estate scheme that bilked a prominent hotel company out of more than $20 million from 2008 through 2010. The scheme allegedly involved paperwork in one transaction that bore the signature of a man who had been dead for months. Host Hotels & Resorts Inc., one of the nation's largest hotel owners, whose properties include the Four Seasons Hotel and the Airport Marriott in Philadelphia, contends in its lawsuit against Fox Rothschild that two of its partners aided a Virginia real estate broker in establishing sham partnerships, in which the broker held an undisclosed interest.
May 30, 2014 |
DELAWARE COUNTY residents of a certain age will remember Shooster's Drive-In Restaurant in Chester. It was a popular hangout for teens, but it catered to everyone with an appetite for burgers, shakes and chicken in the basket. You might have run into Bill Haley and his Comets there, the singers who were among the groups that started rock 'n' roll back in the '50s, and who had an office and studio in Chester. The ditty, "We're boosters for Shooster's," rang out from local radio ads for many years.
May 25, 2014 |
Research by a pair of professors at the University of Chicago Booth School of Business has found that "shabby urban neighborhoods are the wisest choice" for real estate investors. Savvy investors, study authors Veronica Guerrieri and Eric Hurst say, "are looking for a place to park their money in preparation for the next boom. " The most promising urban real estate can be found in rundown neighborhoods bordering upper-class areas, they say. From my observations in Philadelphia (and Chicago, New York and San Francisco)