The company plans to revitalize $885 million in affordable housing over five years

SALT LAKE CITY, June 28, 2022 /PRNewswire/ — new westernthe nation’s largest private source of distressed residential investment properties, today announced the opening of its 45th office in Salt Lake City, UT. Realtor.com listed Salt Lake City as the first city positioned for growth in its Top Housing Markets for 2022 listing. from utah rapid population growth and job growth are the two most important drivers of housing demand in Utah at present.

According to a recent report analyzing US census data, there are 16 million vacant homes in the United States New Western partners with local real estate investors to facilitate property revitalization.

Salt Lake City has seen an upward trend in the median home price year over year,” said kurt carlton, co-founder and president of New Western. “With our unique expertise in finding and acquiring vacant properties, combined with our value-added knowledge, New Western is well positioned to be a valuable resource for local real estate investors, sellers and buyers. Our expansion into Utah marks New Western’s presence in 21 states.”

New Western brings market insight and an exclusive distressed investment property inventory marketplace to help real estate investors acquire properties in need of repair. The company’s agents are helping address the affordable housing shortage by revitalizing struggling homes across the United States, with more than 700,000 older properties in the Salt Lake City metropolitan area only and 68.9% built before 2002.

Colin Barnes is the Chief Executive Officer (CEO) who leads the Salt Lake City office, alongside the regional director mike lam. In his new role, Barnes is responsible for recruiting, hiring, training and leading his team to revitalize $885 million in residential properties Salt Lake City region over the next five years.

“I look forward to growing and expanding our New Western team to Salt Lake City“, Barnes said. “The metro area is considered a prime market for multiple-offer situations, providing New Western with the unique opportunity to provide much-needed housing inventory to local investors and sellers.”

Barnes began his career with New Western in 2019 in his central office in Denver as a sales agent, where the team led successful market sales totaling more than $1.02 billion for three years. In April 2022New Western asked Barnes to open a Salt Lake City Desk.

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

About the new western

New Western is making real estate investing more accessible to more people. Operating in most major cities, our marketplace connects over 100,000 local investors looking to rehab homes with sellers. As the nation’s largest private source of investment properties, we buy a home every 13 minutes. New Western offers new opportunities for everyone: a fresh start for sellers, exclusive inventory for investors, and affordable homes for buyers. For more information, visit www.newwestern.com.

SOURCE New Western