Oct. 20, 2010
A Dorchester man convicted in a federal court for his role in a massive mortgage fraud scheme was sentenced to three-and-a-half years in jail this week. Daniel Appolon, 23, was part of a ring that prosecutors say conducted 21 bogus real estate deals in Dorchester, South Boston, Hyde Park and other communities between May 2005 and June 2006. Appolon was a recruiter for the ring, convincing people to serve as "straw" purchasers on properties. Read more
With its six stories of brick between Dorchester Avenue and Ashmont Station, The Carruth makes no attempt to rival the spacious tranquility of suburbia.
From the businesses at street level â€“ including a bank and an Italian restaurant â€“ to the views from the upper floors, there are reminders of other buildings and other people, not to mention the traffic. That is, the setting for the mixed-income development is unabashedly urban and, thanks to the Red Line, a single ride away from downtown Boston, Cambridge, and Somerville.
Completed by Trinity Financial last year, just as Dorchesterâ€™s multi-family housing market was shaken by a rash of foreclosures, The Carruth failed to meet expectations for condo sales. But what failed to attract buyers has been a hit with renters. Read more
Crosscurrents in Dorchesterâ€™s real estate market are pulling in different directionsâ€”extending the fall-off in prices of the past two years, but also showing signs of new vitality.
â€œIf someoneâ€™s telling you thereâ€™s no business, theyâ€™re not in our neighborhood,â€ says the Dorchester office manager for Jack Conway & Co., Julie Simmons.
â€œThere is a lot of activity now,â€ she says. â€œThat $8,000 tax credit is really bringing people in.â€
But even agents who vouch for people willing to buy and sell say their customers still meet obstacles. Read more