HomeVestors(R) Buys 25,000th House Nationwide

Date Posted: 10/4/2006

DALLAS, Oct 03, 2006 (BUSINESS WIRE) -- HomeVestors(R) of America, Inc., the company famous for its "We Buy Ugly Houses"(R) billboards, has bought its 25,000th house in the U.S. The purchase was made by MJS Holdings LLC, a HomeVestors franchise in Atlanta owned by Greg and Diane Justice.

"This is a huge milestone for our company," said John Hayes, president and CEO of HomeVestors. "In the last 10 years, our franchisees have changed the landscape of residential real estate by buying and transforming eyesores into beautiful homes that people can be proud to own and by helping people out of ugly real estate situations when they need our services the most."

HomeVestors is the nation's only franchise that specializes in buying, rehabbing and selling single-family homes. Today, the company includes more than 250 franchise locations in 31 states.

The Justices joined HomeVestors in November of 2003 and began buying houses immediately. Today they are part of a growing national brand and one of 19 locations in the greater Atlanta market where HomeVestors has become a household name.

"Finding out that we bought the 25,000th house is a fantastic honor for us," said Diane Justice. She added that the home was a classic example of the HomeVestors story.

"This is clearly the ugly house on a street of well kept houses," Justice said. "Our goal is to take this property from worst to first. We take great pride in renovating all of our properties to high standards so that anyone looking for a house on that street will pick ours. Personally, that's where I get my satisfaction."

While it took 10 years to reach this milestone, HomeVestors projects that its franchisees will buy the 50,000th house within three years due to the company's rapid expansion. A high percentage of homes bought by HomeVestors franchisees are rehabbed and resold or kept as rentals. The balance is wholesaled to investors who rehab the properties for sell or rent as well.

About HomeVestors(R) of America, Inc.

Founded in 1989 and franchising since 1996, Dallas-based HomeVestors(R) of America, Inc., has more than 250 franchises throughout the United States. The first franchise company of its kind, HomeVestors(R) trains and supports franchisees who specialize in buying homes in need of repair. Most commonly known as the "We Buy Ugly Houses"(R) franchise, HomeVestors(R) strives to make a positive impact in each community. More information is available at www.homevestors.com.

SOURCE: HomeVestors(R) of America, Inc.

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