Many people have dreams of buying their home. However, cultural barriers and housing shortages can keep these dreams from coming true. Reed Properties is working to keep those dreams alive. This new real estate brokerage will not only define success by the number of units closed and sales volume but also by whether people were helped in the process.
Claudia Reed, the owner of Reed Properties is a professional with more 15 years’ experience in Richmond Metro.
A recent Census Bureau report on the economic status of the nation’s minority groups should noted that all segments surveyed–African American, Hispanic, and Asian-Pacific–registered significant growth in average family income during the past two years. Fannie Mae reports that the number immigrant homeowners has increased by 47% between 1980 and 1995. This is in addition to the fact that it is projected to rise to 6 million more people over the next ten-years. Fannie Mae’s recent survey revealed that immigrants renting are three-times more likely than any other adult renters, to consider buying a home. Overall, immigrants are more likely to own a home than any other age group.
In Richmond, the Latino community has grown tremendously, but have not been targeted by the city’s real estate professionals. Two years ago, 27% of new entrants into Richmond’s housing market were Latino immigrants aged 25-34 years. It is profitable to target Latino buyers. Latinos will make up half the metro population within 20 years, making them the fastest-growing segment in the city’s housing market.
As the Richmond Metro section revives, Reed Properties will be a major player serving this emerging group of homeowners.
Claudia Reed will offer HUD counseling, credit repair and educational programs. A radio talk show called ‘Your New Home’ will be hosted by Reed. It focuses on affordable housing.
There are three low income housing renovation projects currently underway in Richmond. The combined total of 1,500 units will be used as affordable housing. Claudia was instrumental for helping community organizations to win the ten million dollars grant for the renovation projects.
1.1 Objectives
- Residents in the Richmond Metro Area can now open the doors to home ownership.
- Build a business that demonstrates that a real estate brokerage can thrive serving the residents of the intercity.
- Profitably capture a significant share of new business generated by renovation and building projects.
1.2 Mission
Reed Properties has the mission to increase minority homeownership across the Richmond Metro.