Quantcast
 
New book by Larry Connors Click here Improve your trading - See how


 

Trying to rebuild

Mon. October 13, 2008; Posted: 11:33 AM
Stocks RSS
LEE, Oct 13, 2008 (The Berkshire Eagle - McClatchy-Tribune Information Services via COMTEX) -- HOG | Quote | Chart | News | PowerRating -- Robert DuPont Sr. and his wife Rosie were out for their usual Sunday drive on Feb. 24 when "Bob" DuPont got a call on his cell phone -- your house is on fire.

"You better not be joking me," DuPont recalled telling the caller.

No joke.

The DuPonts quickly returned to Lee to find their home and rental unit at 12 Robert St. was heavily damaged by fire for the second time in 17 years at that location. In 1991, Bob DuPont also suffered a head injury from a fall.

"We couldn't believe it, until we saw the house," DuPont said of this year's fire. "I was feeling we were snakebit."

The DuPonts immediately moved into the apartment building they own in East Lee until they rebuilt the house. The tenants at 12 Robert St., Jeffrey and Lea Wickizer and their two young children, have since found another apartment.

The DuPont blaze capped a five-month stretch of four residential fires in Lee that began on Sept. 30, 2007. David Durante saw the two-family rental his family had owned for 100 years at 130 Mill St. gutted by flames.

Then in the early evening of Dec. 17, two fires broke out within 10 minutes of each other. The first blaze occurred at a six-unit apartment building on Laurel Street across from the state police barracks, followed by the fire at 130 Tamarack Ave., the Sires residence which is less than 2 miles away.

No residents were hurt in any of the fires as they

either escaped unharmed or weren't home at all.

Local and state investigators eventually ruled three of the four fires were accidental and the fourth is likely as well.

The DuPonts, Durante and the Sires are all now at different stages of rebuilding.

Two weeks ago, the DuPonts had a modular home anchored atop the basement/storage area of the original split-level house, which firefighters saved -- including Bob's custom made 2005 Harley-Davidson motorcycle. The partially re-constructed home is far from finished, but DuPont, a professional painter, can't wait to do the exterior.

"Purple and orange of course, those are my colors," he said.

Meanwhile, his wife is rebuilding her 400-piece cookie jar collection, half of which was destroyed by the fire.

"She gets five or six new ones every weekend," DuPont said.

David Durante is also ready to rebuild. He took delivery of a duplex modular last week and will set it on a new foundation on Mill Street in a couple of days, replacing a residence his family owned for 100 years.

Durante is spending $180,000 on his housing project, but it could have been more.

"I'm doing alot of the work myself," he said. "I dug for the new foundation and plan to complete all the interior work."

Durante also did his own financial homework following the fire.

"The insurance company wanted to settle quickly, so I decided to hire a private adjuster," he said. "It took longer to settle, but I got all the money up front."

The finished product will have a pair of 2-bedroom units each at $900 per month.

Durante already has several potential tenants asking about availability.

"I've had four or five inquiries," he said. "If you have a rental in Lee, you don't need to advertise."

David and Trisha Sires are rebuilding their single story house on Tamarack Avenue from the ground up. The house is nearly complete, but until then they will keep living in a trailer home parked on their property behind the unfinished structure.

Bob Holcomb will be the last of the four fire victims to rebuild. The owner of Apex Automotive in Great Barrington is gathering quotes and estimates on the cost of various options. He's deciding whether to replicate the six-unit apartment building he bought on Laurel Street or erect some other type of housing.

"I'm not in a huge hurry due to the economy," he said, referring to the expense of heating and maintaining a large rental building.

Holcomb had bought the 112-year-old residence in February 2007 and did mostly exterior renovations before the fire last December. While the blaze mostly damaged the upper floor, he still had to tear down the entire building.

A cement slab and fireplace is all that remains.

"It was very depressing," Holcomb said. "We had put allot of work into that building."

Three sets of tenants were displaced by the fire, including his son who was going to be the on-site maintenance person for the six-unit dwelling.

"My son lost all his stuff: His pictures, his yearbook, everything," recalled Holcomb.

The younger Holcomb has since found an apartment in Great Barrington.

Meanwhile, his father must decide how best to rebuild from a fire that could have been more tragic.

"No one got hurt. Everyone walked away," said Holcomb. "You can buy a two-by-four, you can buy furniture, but you can't buy people."

------

--

Dick Lindsay can be reached at rlindsay@berkshireeagle.com. or

(413) 496-6233

To see more of The Berkshire Eagle or to subscribe to the newspaper, go to http://www.berkshireeagle.com. Copyright (c) 2008, The Berkshire Eagle, Pittsfield, Mass. Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.

For full details on E. I. du Pont de Nemours and Company (DD) click here. E. I. du Pont de Nemours and Company (DD) has Short Term PowerRatings of 5. Details on E. I. du Pont de Nemours and Company (DD) Short Term PowerRatings is available at This Link.

    


More News:   Market Updates | Stock Alerts | All Trading News | Stock Index

Email
Print
Archives
Feedback
Email Article Link
Close X
Recipients email address
Your name
Your email
Add a note (optional)




Stocks RSS





Related News [DD]
PREMIER SPONSORED LINKS
TRADE CENTER
 
The TradingMarkets Directory
RELATED SITES
Nothing but forex
Please call 1-213-955-5858 ext. 1

About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
15260 Ventura Blvd., Ste. 2200
Sherman Oaks, CA 91403

© Copyright 2009 The Connors Group, Inc.


All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.

© 2009 The Connors Group, Inc.