HOUSTON--(BUSINESS WIRE)--As Taylor Consulting, Inc. (OTCBB: TAYO) continues working to build its portfolio of promising real estate assets, U.S. stocks rose on Friday after a better-than-expected reading on the housing market.
U.S. home resales rose more than expected in April, and the supply of properties on the market hit its highest level in nearly two years: both hopeful signs for the housing market. Housing starts exceeded most analysts’ forecasts, and building permits climbed 8 percent to a 1.08 million annualized pace, a sign activity could accelerate in coming months.
That’s all good news for TAYO as the consulting company expands its business into the U.S. real estate market. To start, TAYO is concentrating its efforts on building a strong portfolio of assets in Texas, where a boom in oil and gas activity has helped lead some of the most explosive population growth in the country. There, strong demand for homes has kept both buyers and sellers in the market.
The company is currently negotiating letters of intent to purchase several properties in the state and maximize their revenue potential.
“Housing is a strong economic driver in this region,” said TAYO CEO Scott Wheeler. “We’re close to initiating several purchases that we believe will position us strongly to capitalize on the economic and population growth in Texas.”
Taylor Consulting, Inc., has formed a new division, Third Avenue Development, LLC, to invest in potentially lucrative real estate assets to compete in a brisk market alongside American Homes 4 Rent (AMH), Silver Bay Realty Trust Corp. (SBY), Equity Residential (EQR), Essex Property Trust Inc. (ESS) and more.
For more information on Third Avenue Development, please visit www.ThirdAvenueDevelopment.com.
About Third Avenue Development, LLC
A division of Taylor Consulting, Inc. (TAYO), Third Avenue Development, LLC, is building an emerging portfolio of real estate assets for rehabilitation and rent or resale. The company is focused on acquiring properties in the country’s top-performing housing markets in order to capitalize on the continued recovery and growth of the U.S. real estate marketplace.
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