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New Western Enters Orlando Housing Market with Plans to Revitalize $639M Affordable Homes Over Five Years

·3 min read

Company Expands its Florida Footprint with its Third Office Location in the Sunshine State

ORLANDO, Fla., July 11, 2022 /PRNewswire/ -- New Western, the largest national private source of distressed residential investment properties, announced today the opening of its third Florida office, located in Orlando. This is the 46th office opening for the real estate marketplace connecting local investors looking to rehab houses with sellers.

New Western Logo (PRNewsfoto/New Western)
New Western Logo (PRNewsfoto/New Western)

"We're incredibly excited to extend our footprint in the Florida market with the opening of the Orlando office," said Kurt Carlton, co-founder and president of New Western. "New Western partners with local real estate investors to help facilitate the revitalization of aged and vacant properties. The success we've experienced in St. Petersburg and Tampa is a testament to the value our resources and expertise bring to local real estate investors."

New Western brings market insight and its exclusive marketplace of distressed investment property inventory to help real estate investors acquire fixer-upper properties. The company's agents are helping to address the affordable housing shortage by revitalizing distressed homes across the U.S., with more than 1.4 million aged properties in the Orlando metropolitan area alone and just over 65% built before 2002. A recent report analyzing U.S. Census data shows there are 16 million vacant homes across the U.S.

Chad Ellis is the general manager (GM) leading the company's Orlando office, alongside regional director Mike Valerio. As GM, Ellis is responsible for recruiting, hiring, training and leading his team to revitalize $639 million in residential properties in the Orlando area over the next five years.

"After a successful few years in the Dallas area, I'm looking forward to becoming a part of the Orlando community and helping provide much-needed housing inventory to local investors," said Ellis. "With median home prices in the metropolitan area trending up year-over-year, my team will have the unique opportunity to help revitalize Orlando's distressed housing inventory and return affordable housing options to the market."

Ellis began his career with New Western in 2017 in its Dallas office and served as the general manager, where he successfully led market sales totaling more than $850 million for the past five years. In 2022, New Western asked Ellis to open its Orlando office. The new office is located at 300 South Orange Avenue, Suite 1000, Orlando, Florida.

New Western is the largest private source of investment properties in the nation. Since 2008, New Western has bought and sold nearly $12 billion in residential real estate.

About New Western

New Western makes real estate investing more accessible for more people. Operating in most major cities, our marketplace connects more than 100,000 local investors looking to rehab houses with sellers. As the largest private source of investment properties in the nation, we buy a home every 13 minutes. New Western delivers new opportunity for all—a fresh start for sellers, exclusive inventory for investors, and affordable housing for buyers. For more information, visit www.newwestern.com.

Cision
Cision

View original content to download multimedia:https://www.prnewswire.com/news-releases/new-western-enters-orlando-housing-market-with-plans-to-revitalize-639m-affordable-homes-over-five-years-301583527.html

SOURCE New Western