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-
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.
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