Many people have dreams of buying their home. However, cultural barriers and housing shortages can keep these dreams from coming true. Reed Properties is committed to preserving these dreams. The success of this new brokerage in real estate will not be measured only by sales volume and units sold, but also by how many people were assisted.

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, 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. Fannie Mae recently found that immigrant renters are three to one more likely than other renters to think about home buying. The majority of immigrants are more likely than other adult demographics to purchase a house in the next three year.

In Richmond, the Latino community has grown tremendously, but have not been targeted by the city’s real estate professionals. Latino immigrants from 25 to 34 years old made up 27% of new entrants to Richmond’s housing market two years ago. It’s good business to target Latino homebuyers. 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 continue to be a major player in the Richmond Metro area’s revival.

Claudia Reed will offer HUD counseling, credit repair and educational programs. In addition, Claudia Reed will host her own radio talk program, titled #8220Your New Home. This show focuses primarily on affordable housing.

Currently, there are three low-income housing renovation projects underway in Richmond with a combined total of 1,500 units that will be sold as affordable housing. Claudia played a key role in helping community groups win the ten-million dollar grant.

1.1 Objectives

• Residents of the Richmond Metro Area are invited to apply for home ownership.
• Create a business that shows that a real-estate brokerage can succeed serving the residents of the city.
• A significant market share can be captured by the current and future construction and renovation projects.

1.2 Mission

The mission of Reed Properties is to increase minority homeownership in the Richmond Metro area.