BOCA RATON, Fla., Nov. 1 - Jordyn Taylor Properties, Inc. (OTC: JTPI), a full-service real estate broker in Southern Florida is experiencing the realization of its business model as the conversion of renters to buyers continue to escalate.
In September 2005, the Florida Association of Realtors produced statistics show average home prices had reached $400,000 in the West Palm Beach-Boca Raton area, a greater than 20% increase over September, 2004.
"We are excited to see the great increase in real estate values in South Florida. Our revenues are tied not only to the number of transactions we complete, but also their size. Larger transaction values mean more revenues per transaction, which of course creates operating efficiencies and better margins." According to William Luckman, CEO of JTPI, "The other side of the coin is the fact that approximately 1 of every 10 homes in our market is currently for sale. There is a glut in the residential real estate market. A healthy balance would be a factor less than 3.5%, not 10%. This current over-supply of homes for sale has created an excellent situation for the JTPI business model. Our conversion of renters into buyers is typically inhibited by a renter's lack of available cash, not credit as many suspect. By purchasing in a buyer's market, our converted renters can request large seller concessions and can benefit from 100% financing. The net result is a larger available purchase market for JTPI."
About Jordyn Taylor Properties, Inc.
JTPI is a full-service Real Estate Broker that specializes in residential landlord services. JTPI opened its offices in 2001, and has quickly become one of South Florida's fastest-growing real estate companies, successfully operating 12 locations and completing approximately 35,000 real estate transactions. For more information please visit http://www.jtpre.com .
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements, other than statements of historical facts, contained in this release which are not historical facts may be determined to be forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the Company's products and services, the availability to the Company of adequate financing to support its anticipated activities, the ability of the Company to generate cash flow from operations and the ability of the Company to manage its operations.
