While many people hope one day to purchase their own home, cultural barriers and shortages in affordable housing are just two of the issues that can prevent these dreams from materializing. Reed Properties is working to keep these dreams alive. This new real-estate brokerage will define success not only by the volume of units sold and the sales volume, but also by the extent to which people were helped.
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 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 recently found that immigrant renters are three to one more likely than other renters to think about home buying. Overall, immigrants are more likely to own a home than any other age group.
Richmond’s Latino community has seen tremendous growth but they are not being addressed by the city’s real-estate professionals. Two years ago Richmond’s housing market saw 27% new entrants from Latino immigrants aged between 25-34. It’s a good idea to target Latino home buyers. Latinos will make up half the metro population within 20 years, making them the fastest-growing segment in the city’s housing market.
Reed Properties will play a key role in the revitalization of Richmond Metro’s section.
Claudia Reed will offer educational programs, credit repair initiatives and HUD counseling. She will also host her radio talk show, “Your New Home”, which 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 to helping community organizations win the tenmillion dollar grant for the renovations.
- 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.
Reed Properties’ mission in Richmond is to increase minority homeownership.