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
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!
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.
Majority of borrowers, who are delinquent on their mortgage accounts, are most likely to avoid servicer calls. They probably do so, because they think there is no assistance available to them. “According to the U. S. Treasury, in more than half of the foreclosure cases where the home is lost, the borrower never knew help was available.” (Draper, 2009) In most cases, assistance is available to them to help save their homes or provide them with alternative solutions. To find out potential solutions, it is best to get in contact with the servicer as soon as possible to avoid pitfalls that may hinder the borrower from achieving a positive solution.
Reference: Draper, V. (2009, June). Home retention. Facing the Facts, 36.
It is unfortunate that there will be thousands of families without a home this Christmas. It hits closer to our heart when it is your next door neighbor, the sweet young family from church, or a family member. Yes, we can all say, “That is unfortunate”. But much more important is, what can one do? For the benefit of homeowners who are facing foreclosure, why not put a hold on all evictions during the holidays? I know that this is just a small request yet it has a huge impact on many families that are in a very stressful situation. And so, I am hoping that the spirit of giving will inspire you. I wish for a teachable spirit and warm heart, world peace, that the hungry are fed and that health prevails over illnesses. But one wish I would like to have is that each of us does something for those less fortunate than ourselves this year and continues to give for years to come.
I was on the plane traveling from Orlando to Dallas (via Houston), when, wouldn’t you know it, I found myself surrounded by Keller Williams’ brokers and associates! I know the shuttle was one classroom-in-miniature, but now I had another opportunity. I seized the day!!
I took note of the lady beside me in seat A, since she was professionally dressed on a 9pm flight. Comfort is sometimes the priority when you are “just flying”, but I’ve found that what you wear earns attention! So, of course, I paid attention (something all the women in my family seem to do). Her name badge caught my eye, _____ Keller Williams. Could this be? Have I been given another opportunity to talk real estate? With my passion for real estate, it is an enjoyable subject for me, so it’s hardly “work”.
I began my “questionnaire” … Have you utilized BidSelect, do you specialize in REO’s, how do you feel about the real estate industry today, and so forth. Then I began my explanation of “Look what is available to you and your office!” She seemed pleased with the possibilities, but shared with me that she was very overwhelmed by all the technology that was introduced at the National Convention she had attended, even after being in real estate for many years. She also told me how frustrating short sales are. My goodness, am I a natural at setting the stage or what?! I talked about BidSelect and its user-friendly features. I talked about the wonderful cooperative sale offered through HomeTelos. Then I explained how the services of our brokers in REO make them the cream of the crop (which we are always looking for!). At this point, a tap on my shoulder was followed by “May I have your card? I have been eavesdropping, and I too am a Keller Williams broker. I am very interested in what you have been saying.” I was surrounded!!!! I gave my cards out and received some. (So glad I keep my cards readily available!!! Hint, hint!)
This all began because a real estate professional wore her name badge. When I was teaching real estate classes, I would say, “One of the least expensive, yet most valuable marketing tools you can use is wearing your name badge… everywhere!” Except, perhaps, church.
Until next time, I’m back on the road. Take care, and remember to Wear Your Name Badge!
Greetings to all!
Here I am, waiting to board another plane for another adventure! I could not ask for a better job; traveling to interesting places, meeting new foks and greeting familiar acquaintances!
Speaking of which… I was coming back from the NAREB Mid-Winter Conference in Fort Lauderdale (by the way, my invitation was much appreciated, and I had a great experience interacting with well-versed and experienced brokers!), on my way to Orlando for a couple of days of R&R, and the shuttle from the airport to hotel had us all packed in – sardine style! To my delight, I found myself surrounded by several Keller Williams brokers from five different states! They were discussing their upcoming National Convention and how real estate was changing in their areas. I just could not contain myself! I introduced myself and began the inquiry of where are you from, how large is your office, what is the primary real estate service that you provide and so on… (My mother is a therapist and has taught me well on the “This Is Your Life survey”!) I had a captive and captivated audience, so I proceeded to ask if they’ve used BidSelect, are they aware of a cooperative sale, are they active in REO listings and who with and how are the technology products they use working for them? After giving a brief synopsis of BidSelect, HomeTelos, HomeTracker and First Preston HT’s services for REOs, I received quite a lot of positive inquiries about them all and handed out quite a lot of cards! Naturally, I collected as many cards as were available. What an exciting and impromptu class I had! I could do this for a lifetime!!!!
Well, I am in another airport, leaving from my mini getaway and recharged for my adventures in Tennessee! I have two upcoming HUD seminars — Nashville on the 26th and Memphis on the 27th.
Until next time, I’m back on the road.