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AMS assists in toxic real estate crisis - MFE Online March 27, 2009
Toxic Real Estate Asset Solutions: Asset Management
Services Inc. Awarded Two GSA Property Management Contracts
AMS Donates a Home
Asset Management Specialists (AMS) donated a home to Burlington County Habitat for Humanity. The three-bedroom row home was purchased in a package from Fannie Mae. AMS was fortunate to acquire these homes at a discount from Fannie Mae. As a result of this acquisition AMS donated one of the homes to Habitat for Humanity and assisted in the rehabilitation of that home.
AMS Donates Manpower & Dumpster Services to Habitat for Humanity
On a routine bases AMS provides its company owned trash containers to Habitat for Humanity in Burlington County for their renovation projects.
Operation Unboard Philadelphia
AMS as part of a City of Philadelphia and HUD initiative has been unboarding vacant HUD homes to increase curb appeal and marketability. AMS manages over 600 HUD assets in Philadelphia for Golden Feather Realty, HUD's management and marketing contractor in Pennsylvania.
NYC 203k Property Revitalization
AMS has been managing some of HUD's toughest inventory in the country. HUD has agreed to commit $130 million to rehabilitate more than 500 buildings, which were caught up in a scandal involving unscrupulous lenders and non-profit organizations. AMS has worked hard to protect and preserve these assets for HUD as part of its teaming arrangement with Prescient, Inc. in New York.
Accolades from First Preston's President
HUD conducts annual physical property inspections of nearly 33,000 properties each year. Based on a 30 point rating system, AMS has consistently received an excellent rating in PA, DE, NJ and NY for property condition. AMS manages over 3000 properties in some of the toughest areas in the country.
The written comments of Nancy Richards, President of First Preston:
"My sincere appreciation to all the First Preston employees and our subcontractors who achieved excellence in the March property management scores in the Northeast. Your performance in the field is admired and your hard work is greatly appreciated. I know that the housing stock in the Northeast is older and requires a great deal of tenacity to achieve First Preston standards. Each of you through your hard work and commitment has made that possible. I am so proud to be working with such an outstanding group, and I thank you for allowing me the privilege of representing you, our valued employees and subcontractors."
Respectfully,
Nancy T. Richards
Partnership between NYC HPD Crime Unit & HUD
AMS, as prime marketing and management contractor for National Home Management Solutions, Inc., has been working closely with HUD, NYC HPD's Narcotics Control Unit and NYPD to recover over 80 HUD properties overrun by drug dealers, gangs and prostitution rings. HPD's Narcotics Unit has been successful in recovering over 14,000 apartments from drug dealers, has initiated over 8,000 drug investigations, commenced over 7,000 drug evictions, and stabilized over 3,000 drug infested buildings. This relationship has proven to be a tremendous success in returning HUD properties to the market, lowering court and holding costs and returning sales proceeds to the FHA Insurance Fund.
