HomeVestors Names The Ugliest House of the Year®
Rookie “We Buy Ugly Houses” Franchisees Work Makeover Magic on a Dilapidated Tudor in Queens, New York
DALLAS - (BUSINESS WIRE) - February 13, 2019 - HomeVestors has announced The Ugliest House Of The Year® as voted by the American public from among thousands of home makeovers completed by the “We Buy Ugly Houses®” company in 2018. This year’s winning property was purchased as a dilapidated 1,698 square-foot Tudor in Queens, New York last fall by Nyath Properties, a first-year independently owned and operated HomeVestors® franchise team that expertly renovated and restored the now beautiful home.
Franchisees Steve Papadakis and Michael Gatzonis bought the home as-is, complete with a giant hole in the bedroom ceiling, destroyed bathrooms, and less-than-habitable conditions throughout. The team gutted the house, salvaging its 85-year-old wood floors and exposed beams, while replacing everything else, from sheetrock, windows, electrical wiring and panels, to the roof, bathrooms, kitchen, and basement floors.
“We purchased this house from a seller who had been struggling with a sick family member that had lived in it for years, and who was grateful to find a way ‘out’ of dealing with the property,” said a proud Papadakis. “The seller didn’t have the time or resources to improve it to a condition that traditional sellers would consider. But, we were able to give her cash to get her out of her ugly situation, and were beyond thrilled with the chance to work our makeover magic.”
With more than 1,000 franchises in 168 markets nationwide, HomeVestors has purchased more than 95,000 houses since 1996, and averages about 8,000 houses bought each year. The houses are deemed “ugly” in advertisements, with the term applying not just to their condition, but also to the situations sellers often find themselves in. Houses purchased, like The Ugliest House Of The Year®, are generally rehabbed, then sold or held as investment properties, helping raise real estate values and drive community revitalization.
“HomeVestors® franchises around the country, like Nyath Properties in Queens, are reintroducing properties that many might have considered ‘lost causes’,” added David Hicks, CEO of HomeVestors. “In buying ugly houses, they ultimately help maintain a supply of desirable homes that more local buyers can reasonably afford. We pride ourselves on providing a needed service not only to these sellers, but also to the communities where our franchises live and work, driving both new development and a more affordable housing supply.”
About HomeVestors of America, Inc.
Dallas-based HomeVestors of America, Inc. is the largest professional house buying franchise in the U.S. with more than 95,000 houses bought since 1996. HomeVestors recruits, trains and supports its more than 1,000 independently owned and operated HomeVestors® franchisees that specialize in building businesses based on buying, rehabbing, selling, and holding residential properties. Most commonly known as the "We Buy Ugly Houses®" company, HomeVestors strives to make a positive impact in each of its 168 markets. The company ranked on the 2018 Inc. 5000, has appeared for 12 consecutive years on the prestigious Franchise Business Review's "Top Franchises,” and for six years on the annual Dallas 100. HomeVestors was also recognized in 2018 as the third fastest-growing franchise in America on the Franchise Times Top 200, as the 20th fastest-growing franchise by Entrepreneur Magazine, and in 2019 ranked 30 on Entrepreneur’s Franchise 500. For more information, visit www.HomeVestors.com.
SOURCE HomeVestors of America, Inc.