October 18, 2014
A real estate broker from West Chester has been charged with wire and mail fraud for cheating investors out of more than $2 million in a real estate ponzi scheme, according to the U.S. Attorney's Office. Marie Mikesche Bontigao, 43, persuaded people to invest in her real estate projects and then used the money to pay personal expenses and operate her business between 2007 and 2013, according to court records. She has franchise locations of EXIT Realty in Philadelphia, New Jersey and Delaware.
October 6, 2014 |
Would you buy your college-aged or adult child a house? It's a growing trend, particularly as the real estate market rebounds. Broker Eric Rehling with Re/Max in Conshohocken says real estate may feel more stable as an investment than the capital markets. "The parents that have the means to do this are nervous the stock market is a bit overvalued, or they have a decent amount of cash in their accounts because of the run-up," Rehling says. Depending on their age and tax bracket, some parents approaching 70½ are required to start withdrawing money from retirement funds.
September 26, 2014 |
Michael J. Rozanski always had his friends, family, and community in mind. As a member of the Glassboro Parks and Recreation Committee, and a former member and president of the borough council, his vision had a huge impact, according to the mayor, including the development of Rowan Boulevard, a shopping district linking downtown and Rowan University. "He was one of the main participants in the planning," Mayor Leo McCabe said. Mr. Rozanski, 56, died from complications from heart disease Saturday, Sept.
September 22, 2014 |
Drexel University 's plan to name its law school for plaintiff's lawyer Thomas R. Kline , for his pledge of $50 million in cash and real estate, is the second time that school has sold naming rights. In 2008, Drexel said the law school would be named for 1959 grad Earle I. Mack , the real estate mogul who ran Mack-Cali Realty Corp. , in exchange for Mack's pledge of a $15 million matching grant, once Drexel found a second $15 million. The recession hammered charities and law school enrollments.
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.