The Hispanic community is breaking population growth records and
leading the emerging
market as the dominant minority segment. Can you hear opportunity knocking?
If you are among the forward-thinking real estate professionals looking to
business plan for the changing market, you already recognize that the
future is NOW.
Hispanics will account for 1.5 million of the more than five million new
homeowners expected to enter the market in the next five years. With a
generation of young Latinos about to enter their peak home-buying years, this
means real estate professionals will require a diverse set of tools to meet the
demands of a culturally dynamic segment of homebuyers.
While today's high-tech world is fiercely competitive, Hispanic entrepreneurs are reaching out
to their culture and heritage to cater
to the exploding number of Hispanics living in the United States.
"The Hispanic market is the fastest growing segment online," says Alicia Morga,
chief executive of Consorte Media. "It's too big of a market to ignore."
Market research firm Synovate's 2009 US Diversity Market's Report estimates that
more than 55 percent
of the 35.6 million US Hispanic adults, some 19 million
people, are making purchasing decisions online.
This comes at a time when
Hispanic buying power as a whole is expected to hit $1 trillion in 2010.
HispanicMortgageBrokers.com helps Hispanic individuals and families
locate a Hispanic mortgage broker in their city. We are proud of our
mission to increase Hispanic homeownership rates in the United States.
From a recent Harvard University
During the next 20 years, 40% of all first time home buyers in the USA will
80% of all hispanic renters
surveyed plan to buy a home in the next 5 years.
The number 1 concern of hispanics
surveyed when purchasing a home is speaking in the Spanish language
to their real estate professional. Their Real Estate Agent and
Mortgage Broker must speak Spanish.
Of the United
States' estimated 30 million
Hispanic households, 48.8 percent now own their own homes
rate is growing more quickly than that of the general U.S.
population, according to the
National Association of Hispanic Real
Estate Professionals (NAHREP). Likewise, a U.S. Census Bureau
report shows that the 62 percent homeownership rate for naturalized Latin
Americans in 2002 was
nearly 6 percentage points higher than the
rate in 1994.
Recognizing the growing rate of
Hispanic home ownership, Real Estate Professionals are reaching
to the Hispanic community with several special marketing programs,
title policies, Spanish-English real estate
glossaries and educational information specifically for
homebuyers, sellers, lenders and real estate agents. Real Estate
also are designing its production processes to
accommodate Spanish-language documents.