Solano Real Estate Scene: Jim Porter
Article By: Jim Porter – July 31, 2024
Attention fundraisers and nonprofits in Solano County and Yolo County: The following Wall Street companies need to start giving back to our community and this is especially important to the children-focused nonprofits that over the years have been able to count on the consistent generosity of local real estate and mortgage companies and their salespeople.
The only real estate people that have made any significant profits over the past 24 months in our markets are the Wall Street homebuilders. The rest of us that count on a healthy real estate market are just hanging on for dear life because of our lack of inventory and interest rates.
I had six totally pre-approved buyers lost to the new homebuilders in the past 45 days because the homebuilders are giving incentives to buyers – up to $40,000 in buydowns, closing costs, upgrades and monthly massages for life – but only if the buyer uses the in-house lender that is owned by the builder.
KB Homes’ net profit last year was $771 million; DR Horton, $6.3 billion; Meritage, $950 million; Richmond American, which just sold out to Sekisui, a Japanese conglomerate, $400 million; Lennar, $5 billion; Taylor Morrison, $1 billion; K. Hovnanian, $256 million; Pulte, $3.4 billion; and Tripointe Homes, $467 million.
My point is simple: These guys are making a fortune in our counties and now it is time to call every one of these awesome companies and ask them to immediately start sponsoring charity events and donating to local 501(c) nonprofits, especially the ones that support children.
The local homebuilder salespeople will not be able to make donation decisions, but they will direct legitimate fundraisers to the decision makers to avoid their company being mentioned on social media as a Scrooge.
I have been a volunteer fundraiser many times over the past 35 years. You must go after the deep pocket companies that are currently fat and happy. Every single one of these corporations gives to charity. I want some of it to come here locally because they are making a fortune in our backyard.
Our NSCAR charity golf tournament is coming up in October and it would sure be nice if we got one of these big guys to be our major sponsor for $10,000! They can afford it!
Jim Porter, NMLS No. 276412, is the branch manager of Solano Mortgage, NMLS No. 1515497, a division of American Pacific Mortgage Corporation, NMLS No. 1850, licensed in California by the Department of Financial Protection and Innovation under the CRMLA / Equal Housing Opportunity. Jim can be reached at 707-449-4777.
