Small Business, Individual Real Estate Investors Are Key to the U.S. Housing Market's Recovery: An Open Letter from HomeVestors, America's #1 Home Buyer, to President Obama

- Hedge Funds are Not the Answer to the Government's REO Challenge - Local Investors are Already Helping Markets Recover and Can Do Much More - What the Government Can Do to Help Small Business Real Estate Investors 

DALLAS, TX,  Aug. 29, 2011 /PRNewswire via COMTEX/ -- HomeVestors of America, Inc., known as the "We Buy Ugly Houses®" company, last week sent a letter to President Obama asking the federal government to take several steps to help small business and individual real estate investors further aid in the recovery of battered U.S. housing markets by investing in the government's excess inventory of single-family houses.

"Our solution has the benefit of being simple and having been tested," wrote the co-presidents of HomeVestors of America in response to the Obama Administration's call for input on the 'Disposition of Real Estate Owned Properties' by government enterprises.

"There is little risk to the federal government in helping small investors help the market recover, while the upside is tremendous: Local private investment in local communities and job creation to repair and rehabilitate houses, with affordable sale and rental housing produced as a result."

"In contrast," the HomeVestors executives wrote, "reliance on big, national (or even global) investors including hedge funds, and complicated programs, are less likely to produce meaningful results, more likely to take longer to execute, and more likely to cost the government more money over time."

The full text of HomeVestors' letter to President Obama may be obtained by contacting David L. Hicks (top right photo) or Kenneth Channell (bottom left photo), Co-Presidents, HomeVestors of America, at www.HomeVestors.com.