Although many people long to own their own home, cultural barriers as well as a lack of affordable housing are obstacles that may prevent this dream becoming reality. Reed Properties works to preserve these dreams. 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, Reed Properties’ founder, is a professional who has more than 15 year experience in the 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, a secondary market mortgage company, reported that immigrant homeowners grew by 47 percent between 1980-95 and is expected to increase 45 percent to 6.8 millions people in the next ten year. Recent Fannie Mae surveys found that renters are three times more likely to make home ownership their top priority than other renters. On the whole, immigrants are more likely than any other adult demographic group to buy a home in the next three years.
In Richmond, the Latino community has grown tremendously, but have not been targeted by the city’s real estate professionals. In Richmond, 27% of new entrants were Latinos between 25 and 34 years. Targeting Latino home buyers is good business. Latinos are expected make up half of metro population in 20 year’s, making them one of the fastest-growing segments of the city’s real estate market.
Reed Properties will continue to be a major player in the Richmond Metro area’s revival.
Claudia Reed will provide counseling, education programs, and credit repair services. Her radio talk show, “Your New Homeâ€, will feature educational programs, credit repair initiatives, and HUD counseling.
There are currently three low-income housing projects in Richmond, totaling 1,500 units. These will be sold as affordable housing. Claudia was instrumental for helping community organizations to win the ten million dollars grant for the renovation projects.
1.1 Objectives
- Open the door of home ownership to residents of the Richmond Metro area.
- A business that serves the community can be built.
- You can capture a large market share from the new business that is being created by current and future building and renovation projects.
1.2 Mission
The mission of Reed Properties is to increase minority homeownership in the Richmond Metro area.
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