AREAA, NAHREP & NAREB Announce Five Point of Action
March 27, 2008
The disproportionate economic losses impacting minorities in the housing downturn, has led the combined 70,500 members and affiliates of the Asian Real Estate Association of America (AREAA), the National Association of Hispanic Real Estate Professionals (NAHREP) and the National Association of Real Estate Brokers (NAREB) to recommend a five-point plan that protects homeownership for people of color during the NAHREP Legislative Conference in Washington DC.
AREAA, Bank of America Launch Initiative to Help Realtors
December 10, 2007
Educational Program Aims to Curb Abusive Real Estate Practices
CARLSBAD, Calif. (Dec. 10, 2007)—To ensure regulatory compliance during real estate transactions, Asian American customers may need special attention due to language and cultural barriers, according to the Asian Real Estate Association of America (AREAA), which today launched an initiative with Bank of America to help real estate firms understand and serve this fast-growing market segment.
Win a iPod Shuffle by Taking a Survey in 5 Minutes
AREAA is conducting a survey about current legislative issues affecting your day-to-day business. To let your voice be heard, please spend 5 minutes to compete the following survey online. You will have a chance to win an iPod Shuffle after submitting the survey.
This survey opens from now to 5:00PM, EST, March 26, 2008. Act now!
SEPTEMBER IS NATIONAL PREPAREDNESS MONTH: Are you Ready in Case of a Financial Emergency?
Tuesday, September 11th, 2007
"Are you Ready in Case of a Financial Emergency?"- CreditSmart Asian shows you how to be prepared for financial emergency in September, the National Preparedness Month.
Press release from CreditSmart Asian for National Preparedness Month
For more details, please visit FreddieMac.com
AREAA/UCLA Revisits Asian American Home Buying Trends With Update of Historic Study
Data presented at Wells Fargo housing symposium shows Asian American home ownership on rise, but still lags overall population
WASHINGTON, D.C. (June 14, 2007) - The Asian Real Estate Association of America (AREAA) and the UCLA Asian American Studies Center today released the first update to their historic and in-depth 2006 study of demographic trends related to home buying within the fast-growing Asian American consumer market.
Option One & AREAA Partner to Provide Multi-lingual Homeownership Educational Material
June 27, 2007
Option One Mortgage Corporation is partnering with the Asian Real Estate Association of America (AREAA) during Homeownership Awareness Month to provide consumers with mortgage education materials in Asian languages â?? Chinese and Vietnamese.
Wells Fargo President Doreen Woo Ho Honored as Asian Real Estate Association of America’s Person of the Year
Tuesday, October 2, 2007
SAN DIEGO, Calif. – Oct. 3, 2007 – Doreen Woo Ho, president of Wells Fargo Consumer Credit Group, will be honored as 2007 Person of the Year at the Asian Real Estate Association of America (AREAA) Annual Gala and Convention to be held Nov. 11-13 at the Bellagio, in Las Vegas, NV.
“AREAA is honored to present our 2007 Person of the Year award to Ms. Doreen Woo Ho. As one of the highest ranking Asian Americans in the financial services industry, Doreen has been a role model and a true leader in the real estate community,” said Jim Park, AREAA CEO. “The combination of her lifelong commitment to improving the well-being of the Asian American community and her visible role within one of the largest and most well-respected financial services companies made this year’s decision for our award an easy choice.”
With recent statistics showing Asian/Pacific Americans are the nation’s second fastest-growing minority population, Wells Fargo joins industry leaders in urging real estate professionals not to ignore this important emerging market.
“I am humbled and privileged to receive AREAA’s Person of the Year Award and offer my sincere thanks to AREAA for creating a forum where we can celebrate the contribution all Asian Americans make to the real estate industry,” said Woo Ho.
Convention activities will include presentations on demographics and economic forecasts, as well as sessions on commercial investment strategies, REO properties, mortgage options and marketing to the Asian American buyer. “This event is a one-of-a-kind forum that brings together high-profile leaders from the residential real estate, home mortgage and banking industries in the United States and Asia,” said Allen M. Okamoto, Chairman of AREAA. For more information, or to register for the convention, visit www.areaa.org.
For the Asian/Pacific American population, which is heavily concentrated in California, New York, Texas and Hawaii, common barriers to home ownership include language, lack of knowledge of home buying process, unverifiable income, lack of credit or hesitancy to use common credit-building methods, distrust of real estate professionals and housing affordability in urban areas. These impediments have resulted in a 60 percent homeownership rate among Asians nationally, trailing White Americans by approximately 15 percent.
Established in 2003, the Asian Real Estate Association of America’s membership represents a broad array of real estate, mortgage and housing-related professionals that serve the diverse Asian/Pacific-American market. AREAA is the only national trade association dedicated to representing the interest of the Asian real estate market throughout the country. It pursues initiatives that expand home ownership opportunities for more Asian/Pacific-American families, that increase business opportunities for its members, and that deliver tangible results for its national partners.
Wells Fargo’s Consumer Credit Group, a leading provider of home equity, personal credit and education finance, is a business division of Wells Fargo Bank, N.A., an Equal Housing Lender. Wells Fargo Bank, N.A. is a part of Wells Fargo & Company, a diversified financial services company with $540 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through almost 6,000 stores and the internet (wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest credit rating from both Moody’s Investors Service, "Aaa,” and Standard & Poor’s Ratings Services, “AAA.”
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AREAA Announces the Convention Co-Chairs
Carmela Ma, International Real Estate Expert, and Malcolm Morris , Chairman and Co-CEO of Stewart Information Services will serve as our Convention Co-Chairs this year. In this year, AREAA Convention will offer programs about how to break into International Real Estate business, REO & Short Sale Opportunities and Marketing to the Asian Pacific American consumers.
These are just a few of the sessions being offered at this exciting 3-day event. If you have not already done so, go to CONVENTION ONLINE REGISTRATION and check out the latest Convention session details !
