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NEWS
July 14, 2014 | By Alan J. Heavens, INQUIRER REAL ESTATE WRITER
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.
NEWS
June 6, 2014 | By Chris Mondics, Inquirer Staff Writer
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.
NEWS
May 30, 2014 | BY JOHN F. MORRISON, Daily News Staff Writer morrisj@phillynews.com, 215-854-5573
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.
REAL_ESTATE
May 25, 2014 | By Alan J. Heavens, Inquirer Real Estate Writer
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)
NEWS
May 25, 2014 | By Jason Nark, Daily News Staff Writer
VINELAND, N.J. - It's the magic hour just before sunset, and the sandy soil around John DeLeonardis' shoes glows like gold, the sky a bowl of rainbow sherbet. Problems have piled up on this late Saturday afternoon, and soon the spring peepers will quit croaking and the darkness is going to settle over this empty-looking lot in Cumberland County. That's when customers in cars will expect the movie projector to kick on, to send them back like a time machine and fill their night with monsters and superheroes here at the Delsea Drive-In, the last outdoor theater open in the state that started them.
BUSINESS
May 16, 2014 | By Harold Brubaker, Inquirer Staff Writer
Gaming & Leisure Properties Inc. agreed to buy Meadows Racetrack & Casino, near Pittsburgh, from Cannery Casino Resorts L.L.C. for $465 million, the Wyomissing, Pa., company said. Meadows, in Washington Township, is the second casino in Western Pennsylvania - where new Ohio casinos have cut into revenue - to come under a sales agreement. The sale of MTR Gaming Group Inc., which owns Presque Isle Downs & Casino in Erie, is scheduled for completion in the second half of this year. Meadows opened in 2007 and has 3,317 slot machines, 61 table games and 14 poker tables.
REAL_ESTATE
May 12, 2014 | By Erin Arvedlund, Inquirer Staff Writer
Mary Harris needed a steady stream of income to help pay the cost of sending her young son to Chestnut Hill Academy. So she found a property to buy and renovate, one where she could become a landlord for the first time. When she had her first child at 40, Harris said, she realized that "I had the entrepreneurial drive, and I wanted a property I'd be excited to see everyday. " "Plus, my son was born in 2006, and I needed to pay his tuition" starting in 2012. "From an investment standpoint, I need the income for the next 16 years, and being a landlord makes a lot of sense as passive income.
NEWS
May 5, 2014
In some editions Sunday in the Real Estate section, the first name of the owner of this week's "Haven" was misspelled. Her name is Linda O'Gwynn.
REAL_ESTATE
April 20, 2014 | By Alan J. Heavens, Inquirer Real Estate Writer
The following is a no-holds-barred discussion of self-defense techniques. Or, as Israeli Krav Maga instructor Don Melnick puts it, "Get over the 'ick' factor in eye-gouging. " "This is not fluff or a demonstration of skills," but a "real-world way to save your life," says Melnick, who has trained in Israel four times. "Krav Maga is not a strength-on-strength [approach], but techniques. " It's a cold afternoon in Cherry Hill, and 14 real estate agents from Camden and Burlington Counties are lined up in four rows facing Melnick, who begins "awareness training" - the No. 1 aspect of Krav Maga, which in Hebrew means contact combat . Krav Maga is used by the Israeli Defense Forces as well as by police in many countries and by FBI agents.
BUSINESS
April 16, 2014 | By Alan J. Heavens, Inquirer Real Estate Writer
First-quarter average home values in Philadelphia declined 4 percent from the last three months of 2013 as the city's real estate market recovery continued to experience "fits and starts," economist Kevin Gillen, who tracks the market, said Monday. In his analysis of home sales recorded during the first quarter, Gillen, senior consultant at the University of Pennsylvania's Fels Institute of Government, said the recovery has been "unevenly - and inequitably - spread across" the city's neighborhoods.
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