Energy-saving conference kicks off this month in A.C by ProQuest


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									                                                                                                         viding kickbacks to a contractor at
                                    N.J. Unsold Housing Inventory                                        the Manville site from 2002 to 2007.

                                                                                                                                                                                                                                    Courtesy of HomeVestors of America
                                            By Price Point                                                    n Canada-based Bennett Envi-
                                                                                                         ronmental Inc. was previously sen-
                     90                                                                    84
                     80                                                                                  tenced to pay criminal fines and resti-
                     70                                                                                  tution of more than $2.7 million, while
 Months of Supply

                     60                                                                                  Christopher Tranchina, an employee
                     50                                                  43                              of an unnamed Sewell-based compa-
                     40                                                                                  ny, got a 20-month jail sentence and
                     30                                  26                   28
                                                                                                         had to pay $154,597 in restitution.
                     20                18                       15
                           14 12            13                                                                n Frederick Landgraber, co-
                                                                                                         owner of an unnamed Martinsville
                           <$400k    $400k-$599k       $600k-$1mil     $1mil-$2.5mil       >$2.5mil      company, was previously sen-
                                                                                                         tenced to five months in jail and         The 2008 winner was from a house in Chicago. The home has since been rehabbed.
                                        2009                  2010

                                                                                                                                                   Ugly side of housing market
                                                                                                         five months of home confinement,
Unsold housing inventory in New Jersey has declined by nearly 20 percent over the past                   and ordered to pay $35,000 restitu-
year, to the equivalent of 13 months of sales, compared to 16 months one year ago.                       tion in connection with the super-
While this improvement has occurred across all home price ranges, it’s most pronounced                   fund cases. – Martin C. Daks
for homes priced at less than $600,000, due to supply constraints and the federal                                                                  HomeVestors of America Inc., a            palardo, managing member of NJ
                                                                                                                                                   Dallas-based buyer of distressed          Town Properties LLC, a local fran-
homebuyer tax credit. Sales are likely to improve over the next few months as the credit
approaches expiry, but the second half of the year is less certain, hinging on unemploy-
                                                                                                         Energy-saving conference                  homes, is accepting entries for the       chise of Homevestors.
ment and mortgage interest rate trends.                                                                  kicks off this month in A.C.              2010 Ugliest House in New Jersey       
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