New Western's Explosive National Growth Continues as Company Enters 20th State with Addition of its Birmingham, Alabama Office

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Jun 13, 2022, 09:03 ET

Company Sets Goal to Revitalize $474M in Residential Properties in Five Years

BIRMINGHAM, Ala., June 13, 2022 /PRNewswire/ -- New Western, the largest national private source of distressed residential investment properties, announced today the opening of its first office location in Alabama. This latest opening marks the company's presence in the 20th state across the U.S. and its 44th office location for the brand.

New Western is focused on purchasing vacant properties. According to LendingTree, there are 16 million vacant homes across the U.S., including Birmingham, which Realtor.com listed as one of the top 25 U.S. cities in its Top Housing Markets in 2022 List.

"Our company specializes in purchasing distressed or vacant homes instead of competing with traditional homebuyers," said Kurt Carlton, co-founder and president of New Western. "We pride ourselves on helping to return distressed properties to the market by partnering with local real estate investors who will rehab the properties to create more affordable housing options. On average, rehabbed properties are 31% more affordable than creating ground-up construction."

New Western brings market insight and an exclusive marketplace with distressed investment property inventory to help real estate investors acquire fixer-upper properties. The company's agents are helping to address the affordable housing shortage by revitalizing distressed homes across the U.S., with nearly half a million aged properties in the Birmingham area alone, and 78% of them built before 2001. The average age of a property that New Western will purchase is 60 years old, and the median cost is $232,000.

Gabe Long is the general manager (GM) and managing broker leading the new Birmingham office, located at 1 Chase Corporate Center, Suite 400, in Birmingham. As GM, Long is responsible for recruiting, hiring, training, and leading his team to revitalize $474 million in residential properties in the Birmingham market over the next five years.

"I'm extremely excited to be in a city with a sizable affluent suburban population with the appropriate purchasing power to invest," said Long. "Birmingham is an ideal residential real estate market because of the ease of entry via low price points, ample commercial growth, and the opportunity for appreciation."

Long began his career with New Western in 2018 in its Atlanta office as a real estate investment consultant and quickly moved his way up, becoming an acquisition specialist, then assistant general manager. In March of 2022, the company asked him to open its new Birmingham office and serve as its GM and managing broker.

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

About New Western

New Western makes real estate investing more accessible for more people. Operating in most major cities, our marketplace connects more than 100,000 local investors looking to rehab houses with sellers. As the largest private source of investment properties in the nation, we buy a home every 13 minutes. New Western delivers new opportunity for all—a fresh start for sellers, exclusive inventory for investors, and affordable housing for buyers. For more information, visit www.newwestern.com.

SOURCE New Western