Convention Planned to Educate National, Florida Home Mortgage Brokers on Hispanic Buyers
More than any other state’s housing market, ours is driven by Hispanics seeking a Florida mortgage loan. Therefore, it’s important that agents and lenders are familiar with this sector of society.
With that in mind, The National Association of Hispanic Real Estate Professionals announced its lineup for the 2006 Hispanic Marketing Convention & Expo, set for this fall at the Bally’s Las Vegas on November 2-5, 2006.
The Hispanic-themed industry event features a packed schedule of workshops, town-hall meetings and a trade show expo that will update all involved in real estate, such as mortgage brokers, on the latest products and services best suited for the 2.2 million Hispanic home buyers expected to buy homes by 2010.
Earlier this summer, we reported on similar sessions and groups meant to help Latino buyers seeking Florida home loans of all kinds. It’s important to educate such first-time home owners because they have the potential to make up a large part of the market.
The emergence of the Hispanic population as a dominant force in the marketplace has made the convention more popular with each passing year, as more companies and practitioners tailor their goods and services to attract Latino homebuyers.
Between 1995 and 2005, the number of Hispanic owner-occupied homes increased by 3.1 million, reaching a total of 6.9 million in 2005. Hispanics accounted for 50% of the nation’s population growth between 2000 and 2004 - and we live in the state that saw the most distinct impact. Many first-time Florida home mortgage applicants are Latino.
“At present, the industry is unprepared to meet the needs of Hispanic home buyers,” said Frances Martinez Myers, chairman of NAHREP. “There are not enough bilingual, bicultural professionals to work with this segment, which will comprise as much as 40 percent of the first-time home buyer pool in a few short years. This represents a business imperative for the industry and a prime opportunity for practitioners that want to broaden their business base in this slowing market.”
