‘Incorrigible fraudster’ to serve 9 years for housing scam, tax evasion

<!– No

tags wrapping article body –>

U.S. District Judge Michael P. Shea sentenced con man Timothy W. Burke to 9 years in prison Friday, saying the scheme in which Burke took in millions at the expense of financially troubled homeowners was one of the most serious white-collar crimes the judge had seen.

Shea went beyond the maximum eight-year prison term recommended under federal sentencing guidelines, in part he said because Burke, 65, previously had served three sentences, the longest for five years, for committing the same or similar crimes.

“Imagine, Mr. Burke, if you were robbed at gunpoint by someone who previously had received a relatively short sentence for the same crime. You’d be outraged,” Shea said.

Burke, described by victims as a charmer who would take them out to dinner, stop by their homes often and promise to relieve them of their underwater properties, would disappear as soon as the victims realized he had not fulfilled his promise, according to

... read more at: http://www.theday.com/policefirecourts/20170428/incorrigible-fraudster-to-serve-9-years-for-housing-scam-tax-evasion

No. 4A, SeaScape, 221 East Grand Ave., Old Orchard Beach

OLD ORCHARD BEACH – Here, it’s about a one-minute stroll – along the lawn’s paved path, down a short ramp, through the dunegrasses’ tiny trail – to the sand and surf of one of Maine’s finest beaches, the spectacular, seven-mile crescent of oceanfront awesomeness that arches from Prouts Neck to Biddeford Pool.

Here, you can enjoy not only the panoramic vista, but also a degree of relative quiet. The location, just inside the Scarborough town line, is significantly less foot-trafficked. In inclement weather, and indeed year-round, the heated indoor pool with accessory full kitchen and outside grills is available, and may be reserved for parties.

Here, home is a splendid condominium on the fourth level at SeaScape, high enough to ensure lofty views, but “low” enough that you always know you’re living at the beach. Especially when you’re on this unit’s 30+-foot balcony, the shorefront at your feet.

Behind

... read more at: http://www.pressherald.com/2017/04/28/no-4a-seascape-221-east-grand-ave-old-orchard-beach/

Home sellers realized average price gain of $44000 in first quarter of 2017

ATTOM Data Solutions, curator of the nation’s largest multi-sourced property database, today released its Q1 2017 U.S. Home Sales Report, which shows that homeowners who sold in the first quarter realized an average price gain of $44,000 since purchase, representing an average 24 percent return on the purchase price — the highest average price gain for home sellers in terms of both dollars and percent returns since Q3 2007.

Meanwhile the report also shows that homeowners who sold in the first quarter had owned an average of 7.97 years, down slightly from a record-high average homeownership tenure of 8.00 years in Q4 2016 but still up from 7.68 years in Q1 2016. Homeownership tenure averaged 4.26 years nationwide between Q1 2000 and Q3 2007, prior to the Great Recession.

“The first quarter of 2017 was the most profitable time to be a home seller in nearly a decade, and yet homeowners are

... read more at: http://www.buckscountycouriertimes.com/blogs/real-time/home-sellers-realized-average-price-gain-of-in-first-quarter/article_41b311d4-2a7b-11e7-b094-4ff1332c6fe3.html

U.S. Home Sellers Realized Average Price Gain Of $44000 In First Quarter Of 2017, Highest Since Q3 2007

IRVINE, Calif., April 27, 2017 /PRNewswire/ — ATTOM Data Solutions, curator of the nation’s largest multi-sourced property database, today released its Q1 2017 U.S. Home Sales Report, which shows that homeowners who sold in the first quarter realized an average price gain of $44,000 since purchase, representing an average 24 percent return on the purchase price — the highest average price gain for home sellers in terms of both dollars and percent returns since Q3 2007.

Meanwhile, the report also shows that homeowners who sold in the first quarter had owned an average of 7.97 years, down slightly from a record-high average homeownership tenure of 8.00 years in Q4 2016 but still up from 7.68 years in Q1

... read more at: http://finance.yahoo.com/news/u-home-sellers-realized-average-040100294.html

US home prices rose at the fastest pace in nearly 3 years

But for now, sales of new and existing homes are robust. Last month, sales of existing homes reached their highest level in a decade. The strong demand, however, hasn’t enticed more Americans to sell their homes. The number of houses for sale has dropped to its lowest level in nearly 20 years, which makes finding an available home the toughest challenge awaiting potential buyers in the spring home buying season.

... read more at: http://www.ajc.com/business/home-prices-rose-the-fastest-pace-nearly-years/16XBSjCkxrzk8nqaVlnOCM/

US home prices rise at the fastest pace in nearly 3 years

FILE - This Wednesday, Dec. 7, 2016, file photo shows a house for sale, in Hialeah, Fla. U.S. homes prices rose steadily upward in February 2017 as more homebuyers chased fewer available properties. The Standard  Poor's CoreLogic Case-Shiller national home price index increased 5.8 percent in February, the most in 32 months. (AP Photo/Alan Diaz, File)

A house is for sale in December in Hialeah, Fla. U.S. homes prices rose steadily upward in February as more homebuyers chased fewer properties. The Standard Poor’s CoreLogic Case-Shiller national home price index increased 5.8 percent in February, the most in 32 months. (AP File Photo/Alan Diaz)

By CHRISTOPHER S. RUGABER
AP Economics Writer

WASHINGTON (AP) — U.S. home prices rose steadily in February as more homebuyers chased fewer available properties, a trend that many analysts say may not be sustainable.

The Standard Poor’s

... read more at: http://dailyreporter.com/2017/04/25/us-home-prices-rose-at-the-fastest-pace-in-nearly-3-years/

Can Portland build its way out of a housing crunch?

It’s a common complaint about Portland’s painful housing crunch: Why are builders catering mostly to high-end buyers?

New homes, on average, command higher prices than 80 percent of the homes on the market, said Skylar Olsen, an economist with the real estate website Zillow. “Construction firms … tend to go for the luxury,” she said. “That’s how they’re going to get a better bang for their buck.”

So where does that leave those who are scouring the ads for their first home in a region where housing stocks have been drained by years of population growth and underbuilding?

New homes, already sold for a premium, don’t appreciate as quickly as existing homes, and over time the rest of the market catches up. Economists call the process “filtering,” and it explains how a home can change price tiers.

It usually takes about 30 years for a home to complete the filtering cycle and revert to

... read more at: http://www.oregonlive.com/front-porch/index.ssf/2017/04/can_portland_build_its_way_out.html

Should home sellers stash their pot plants before the open house?

Part one of a two-part series on marijuana and the real estate market.

You’re putting your home on the market. The photographer is coming. The open house is set. You’re tidying up and spot your marijuana plants. Should you remove them?

The answer depends on whom you ask and isn’t as (um) cut and dried as you might think.

The passage of Question 4 in November 2016 made it legal for people 21 or older to use marijuana for recreational purposes in Massachusetts. Each person may grow up to six plants, with a limit of 12 per household. But it’s still a federal crime, and the disparity has led to confusion in states like Colorado, where recreational marijuana has been legal since 2012.

OK, so it’s legal here (and in some form in 26 other states — soon to be 29 — and the District

... read more at: http://realestate.boston.com/news/2017/04/20/marijuana-real-estate/

Employers are having a harder time finding skilled people to hire, Fed says


Federal Reserve Chairman Janet Yellen prepares to deliver the semi-annual testimony on the
Federal
Reserve Chairman Yellen prepares to deliver the semi-annual
testimony on the “Federal Reserve’s Supervision and Regulation of
the Financial System” before the House Financial Services
Committee in Washington

Thomson
Reuters


Employers are having a harder time finding skilled workers to
hire as the labor market continues to tighten, according to the
Federal Reserve’s Beige Book released on Wednesday. 

The survey of contacts across the Fed’s 12 districts includes
several anecdotes on the US economy and was prepared ahead

... read more at: http://www.businessinsider.com/beige-book-fed-april-19-2017-4

Recent home sales in Boston and Cambridge




ALLSTON

46 Gardner St. Three-family Decker, built in 1920, 3,255 square feet, 11 rooms, 7 bedrooms, 4.5 baths, on 5,000-square-foot lot. $1,396,800

BACK BAY

225 Beacon St. One-family Row-Middle, built in 1890, 6,383 square feet, 12 rooms, 5 bedrooms, 6 baths, on 2,016-square-foot lot. $6,600,000

Advertisement

227 Marlborough St. #9 Condominium Row-Middle, built in 1880, 1,835 square feet, 8 rooms, 2 bedrooms, 2.5 baths, on 1,835-square-foot lot. $3,100,000

57 Marlborough St. #2 Condominium Row-Middle, built in 1867, 1,128 square feet, 4 rooms, 2 bedrooms, 2 baths, on 1,128-square-foot lot. $1,550,000

457 Beacon St. #2 Condominium Row-Middle, built in 1880, 1,113 square feet, 4 rooms, 2 bedrooms, 1.5 baths, on 1,113-square-foot lot. $1,250,000

415 Beacon

... read more at: https://www.bostonglobe.com/lifestyle/real-estate/2017/04/15/recent-home-sales-boston-and-cambridge/dnd9nE8SZ4cYBwS0p71kuJ/story.html