Don’t look now but people are buying homes again. REALTOR Magazine’s October 25th issue reported that existing home sales increased in all four regions of the country, for the month of September. Here are some facts that should get you excited…
• The rate of increase ranged from 5% in the West to 14.5% in the Midwest
Read more
As a business, our job is to empower communities all over the nation. We live out that principle through getting involved in our own community here in Dallas by supporting several amazing organizations. One of our favorites is the Dallas Women’s Foundation.
The DWF strengthens the entire community by increasing the investment in women and girls and empowering women’s philanthropy. In addition, they have poured more than $13 million into 950 community service organizations in North Texas. This has made it possible to lift the hopes and lighten the load of 250,000 “at risk” women and girls in the area. Read more
We’ve been in the REO services industry since the late 80’s and we’ve seen a lot of things come in go in those years. But we’ve discovered something new that we wanted to make sure that you knew about.
Warren Buffett has built the 2nd largest Real Estate Brokerage chain in the country.
That’s right, while you were looking the other direction one of the world’s most prominent investors has decided that real estate would be a good asset and pushed his chips in that corner.
His company is called Home Services America and is based in Minneapolis, Minnesota. It is a subsidiary of Berkshire – “controlled” Mid-American Energy Holdings. The umbrella of amenities for HAS includes a plethora of settlement services, such as mortgage, title and escrow, relocation and insurance..and they are on pace to add 4-6 regional chains this year.
Here’s the other interesting wrinkle to the company. After acquisition, the local Brokerages are encouraged to keep their company names and the owners must remain involved in the business. Homes Services of America provides well thought out business systems and backend tools in to support the local brokerage. Financially, it’s like putting the best regional brands on steroids.
If Warren Buffett thinks that real estate is a profitable investment, we think that indicates something that we’ve known all along. The future for the real estate industry is bright.
What do you think?
Trevor and Stuart continued their visit in Oklahoma and Kansas on their road trip to “Getting America’s Homeownership Back on the Road!” Check out our awesome brokers!
If you needed a reason to have a real estate broker party, this would be it! We are excited about the news and wanted to make sure to share it with you.
Rod Stewart
“Since financial companies started keeping track of mortgage rates in 1971 – when GIs where being sent to fight in jungles of Vietnam, Rod Stewart was belting out Maggie May”, and the median price of a home was $24,300 – this has never happened.”
Here’s what all the buzz is about…Mortgage rates on 30-year loans can be found throughout the industry at 4.2%. Fifteen year rates are in the 3.75% range. Read more
Texas State Senator Florence Shapiro helps First Preston in building our 31st Habitat Home for deserving families.
First Preston founder, Nancy T. Richards and President Lisa Barrentine have made social responsibility a priority in the operation of their national real estate management, marketing and advisory services firm. As a matter of fact, these successful entrepreneurs set out from the beginning to make a positive difference in the lives of others through charitable contributions and community leadership in serving those most in need. As their business has grown managing homes for sale, their philanthropic contributions have expanded to include long term and significant support of many non-profit organizations. First Preston supports these and many other organizations:
Habitat for Humanity International – First Preston has funded and built 31 homes
for deserving families in nine states. The company’s employees, vendors, and subcontractors are frequent volunteers at local builds. Nancy T. Richards is a past member of the Habitat for Humanity International Women’s Build Committee. Lisa Barrentine currently serves as a board member for a local Habitat affiliate.
Dallas Women’s Foundation – This organization supports women and children in North Texas, a mission which resonates with First Preston as one of the largest women owned businesses in the country. Founder Nancy T. Richards holds a position on the Advisory Board of the Dallas Women’s Foundation and the company has contributed over $1.5 million to the organization’s programs and funds.
Cornerstone Development Corporation – Faith-based groups have made remarkable progress in improving the lives of people. In South Dallas there is no better example than the work done by Cornerstone as they offer services to the homeless, a welfare-to-work program, food bank, child care, an educational program for teens struggling in school, after school programs for young children, prison-to-work transition and medical services. With several First Preston employees involved in the community outreach of the church, the company has contributed time and funding in support of their outreach to some of the most disadvantaged residents of Dallas.
YWCA of Metropolitan Dallas – The funds donated by First Preston and its employees, vendors and subcontractors have allowed the YWCA to continue to offer free breast and cervical cancer screenings, quality childcare for working mothers, and educational programs on family finances and budgeting. First Preston has been one of the largest corporate contributors to this organization.
Grameen Foundation, USA and The Chiapas Project – The Grameen Foundation reduces poverty by funding micro-loans to small business entrepreneurs. First Preston helped to launch the micro-loan program in Dallas, is a sponsor of the Chiapas program in Mexico and has raised funds for the national foundation. The micro-loans support hundreds of businesses that provide a range of services and products including catering, printing, daycare, tailoring, and technology services.
First Preston’s contributions of time, talent and funding come from the belief that when in a position to give, one should do so. Nancy T. Richards commented that “Making these gifts is a way to share our success. The synergy between business and charity truly makes a business shine and the community a better place to live.”
First Preston Relocation Services is an integral part of First Preston Management, Inc., a privately held real estate advisory, relocation services, property management and marketing firm founded in 1988 and headquartered in Dallas, Texas.
Our company has managed 400,000 assets totaling $40 billion in value for Fortune 500 companies, banks and other lending institutions, privately held firms and various government entities. In addition to property management, valuation services, marketing of assets, we offer a full range of innovative lease management services designed for transferees and owners who prefer to lease – rather than sell- their homes. In fact, First Preston was the first company to build an end-to-end online asset and workflow management system and the first to launch an electronic marketplace complete with offer management capabilities. Read more
We’re excited to announce that First Preston’s FSM property management teams are in full operation! Now we need your help finding vendors.
The regional team managing services on HUD’s inventory in Iowa, Minnesota, Montana, North Dakota, Nebraska, South Dakota, Wyoming and Wisconsin is seeking property management vendors interested in providing the following services.
Below are all the services that we are looking for. Please have potential vendors comment on this blog.
HomeTelos is hosting an open solicitation for FHA roster appraisers to provide local valuation services. To be be considered as a HomeTelos Listing Appraiser, interested parties should complete our online registration process.
HomeTelos, L.P., a Dallas-based real estate services and technology firm, and approved GSA Schedule Contractor, has been selected by the United States Department of Housing and Urban Development (HUD) to provide new and advanced marketing strategies to sell HUD’s single-family residential portfolio in five geographic regions encompassing Alabama, Arkansas, Colorado, Delaware, District of Columbia, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Mississippi, Missouri, New Mexico, North Carolina, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia and West Virginia, including Puerto Rico and the U.S. Virgin Islands.
The snow has melted, the birds are chirping, flowers are blooming, the grass is growing and it smells like Spring. With all these wonderful transitions from the past months comes Spring indoor and outdoor chores. Here are a few reminders to assist:
Be proactive and maintain your property in the best possible condition.