IN THE NEWS
Howard Hanna reports solid activity during first half of 2009
Posted 08/03/2009Incredible efforts during the first half of 2009 have led to great results for Hanna Holdings and Howard Hanna Real Estate Services as they report their numbers for the first half of the year.
The company’s total dollar volume January through June of 2009 was $11.1 billion, 17% above the company’s performance of $9.5 billion during the first six months of last year. Units were up by an even greater percentage of 22% with the company reporting 63,529 units in the first half of 2009 as compared to 52,100 in 2008.
Howard Hanna Mortgage Service’s volume also climbed for the first half of this year, closing 3,532 mortgages with a value of $538.5 million. This represents an astounding 44% increase in units and 37% increase in volume over 2008 when the company closed 2,568 mortgages with a value of $373,840,317. “Funds are available for those who can afford to buy a home. There’s no need to worry about not getting a loan because of a credit slow down,” said Mark Steele, President of Hanna’s Mortgage Company. “Interest rates continue to be low and we have the money to lend.”
Howard Hanna Real Estate has also realized growth opportunities during the first half of 2009 with the acquisition of a Remax franchise, ReMax Real Estate Executives, in the South Hills area of Pittsburgh. This follows the company’s major acquisition of Realty One in Cleveland late last year. Realty One was Ohio’s second-and the country’s twenty-third largest real estate company. The acquisition ranked Howard Hanna as the fourth largest real estate company in the nation with 131 offices across Pennsylvania, Ohio, New York and West Virginia.
Howard Hanna also continues to invest in the communities they serve and recently completed the purchase of the building that houses their Erie Airport office, at 4248 West 12th Street in Erie. “Our acquisitions and purchases in the past 6-8 months are a clear demonstration of our company’s commitment to the regions we do business in,” said Howard W. “Hoddy” Hanna, III, Chairman and CEO of Howard Hanna Real Estate Services.