I love New York…Brooklyn, that is..

It has long been my dream to return to Brooklyn and purchase one of my beloved Brownstones…. While I have come close in finding my true love in -Historic West End, Atlanta… my 1920 Craftsman with all it’s beautiful details (original hardwoods, 4 fireplaces, pocket doors) still can not melt my heartthe way these NY Corcoran listings do….

Brooklyn Brownstone

Take  a look:  MACON STREET 

Macon Street Rental

Quincy Street

Quincy Street #2

St Marks Ave.

St Marks

Failed Projects Turned Into Affordable Housing

Expensive cities like New York and Seattle are trying to find ways to change failed luxury projects into affordable housing for families with moderate incomes.

Seattle has a measure on the ballot in the next election that would create a fund to buy market-rate real estate developments. New York is studying a plan to subsidize unsold or half-built apartments to make them affordable for families earning between $55,000 and $158,000,

Cities need affordable housing for teachers, police, and firefighters, says Alan Berube, research director of the Brookings Institution’s metropolitan policy program.

Source: USA Today, Martha T. Moore (07/01/2009)

Top 10 Most Heavily Taxed States

It’s April, so people’s thoughts are turning to taxes, and where they live makes a big difference in how much they pay.

Here are the 10 states with the highest taxes, including property, individual income, sales, alcoholic beverages, tobacco, motor vehicles, hunting and fishing, motor fuels, death and gift taxes, as well as insurance premiums. The per capita tax was derived by adding up all the taxes and dividing the total by the number of citizens.

1. Vermont, $3,861
2. Hawaii, $3,856
3. Connecticut, $3,596
4. Minnesota, $3,203
5. New Jersey, $3,024
6. New York, $3,019
7. Massachusetts, $2,953
8. Washington, $2,553
9. Wyoming, $2,357
10. Pennsylvania, $2,223

Source: Forbes, Matt Woolsey (03/30/2009)

Mortgage Fraud Rises as Sales Decline

Mortgage fraud increased 26 percent in 2008 compared to 2007, according to a study released Monday by the Mortgage Asset Research Institute.

The increase reflects fewer loans. About $1.4 trillion in home loans were made in 2008, down a third from the previous year.

More than 60 percent of the mortgage fraud cases last year were tied to falsified applications; 28 percent reflected falsified tax returns or financial statements; and 22 percent were related to appraisals.

The fastest-growing scams, the report said, are perpetrated by foreclosure prevention specialists, who offer to rescue distressed borrowers, then flee with their money.

The 10 states with the most fraud (in descending order) were:

  • Rhode Island
  • Florida
  • Illinois
  • Georgia
  • Maryland
  • New York
  • Michigan
  • California
  • Missouri
  • Colorado


Source: The Associated Press, Alan Libel (03/19/2009)