News about properties and real estate
View of home as investment needs to change, expert says [Southern California] Kajal and Vishal Dharod paid $559,000 in 2006 for a new four-bedroom house built in Rancho Cucamonga, Calif. Today, it’s worth about $360,000. “We don’t know how we can come back from a loss like that,” said Kajal Dharod, 29, a first-time homeowner …
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A Toxic Drywall Antidote The company that used chlorine dioxide gas to eradicate anthrax from government buildings and mold from hospitals and houses in New Orleans said it can solve the problem of corrosive and stinky Chinese drywall without physically removing it. Sabre Technical Services said it has successfully neutralized the troublesome reduced sulfur gases …
Chinese drywall: Florida hasn’t committed to using federal money for repairs [South Florida] The Louisiana Legislature passed a law that allows the state to use $5 million in federal grants to repair homes with tainted Chinese drywall. So far, Florida lawmakers have failed to follow suit. “If Louisiana can do it, why can’t we?” asked …
Checklist: Buying a Condo Conversion I am a first-time buyer. I have just viewed a 1,050-square-foot unit in a Brooklyn, N.Y. building, built in 1957. I like it, and I also like the $442,000 asking price. But before I commit, please tell me: What are the disadvantages of buying a newly converted condo? What should …
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The new flipping: short sales [South Florida] Untold millions of dollars that banks could have recovered from the sale of distressed Florida homes have instead been pocketed as profits by a new breed of property flipper. These flippers target houses on the verge of foreclosure and persuade banks and mortgage companies to accept lowball buyouts, …
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Homeowners left in a lurch after mortgage refinancing checks bounce In early April, Jeff Franson refinanced his mortgage, switching it from Chase to SecurityNational Mortgage Co. On a sunny Saturday in early October, as he was mowing the front lawn of his Mokena, Ill., home, a process server drove up and handed Franson papers that …
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