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[QUOTE]Originally posted by ya ya: [QB] News for 'UNQT' - (Union Equity Introduces Home Sales Express, Inc.; Launching Real Estate Website to Attract Distress Sales and Capitalize on Internet Revenues) PALM BEACH, Fla., Jun 10, 2005 (BUSINESS WIRE) -- Union Equity Inc. (Pink Sheets:UNQT) announces the formation of its new wholly-owned subsidiary, Home Sales Express, Inc. The company's primary focus is to make select offers on homes that are not listed for sale on the open market. "The challenge was how to gain a competitive edge in a market that's going straight up," said Union Equity CEO Michael Anthony. "Pre-construction opportunities are still astonishing but existing properties that are hitting the market in South Florida are selling in record time. Playing low-ball isn't effective when a seller receives ten offers on the subject property the first week it's posted on MLS. The solution became overwhelmingly clear; aggressively and systematically pursue properties that are not listed on the open market." The primary objective of Home Sales Express, Inc. is twofold: to attract distress sales, meaning property owners who need to sell immediately due to a variety of reasons; and to attract owners of non-conforming properties, meaning properties that do not qualify for traditional financing due to structural defects, termites, title problems or zoning issues. If a property does not qualify for traditional financing it is difficult, if not impossible, for the owner to sell it on the open market unless approached by a cash buyer. Since the majority of South Florida's current real estate boom is finance driven, if the prospective buyer can't get a loan on the subject property, the property remains unsold. Within 72 hours, Home Sales Express, Inc. can conduct an inspection by a licensed General Contractor, generate an appraisal, perform a title search and then make an offer on a property. Once acquired, the property can then be renovated and resold on the open market and/or listed for sale on the company's web site. "There are still numerous houses out there that have hurricane damage from last year," Anthony said. "Our belief is that some of these people would like to step out of their properties but just don't know how." The secondary focus of Home Sales Express Inc. is to attract and approach owners of conforming properties who want a simple and speedy liquidation without the use of a real estate agent. The driving force behind Home Sales Express, Inc. will be a sophisticated yet user-friendly interactive website that is currently under construction. Some of the primary features will be an online application so homeowners can submit properties for purchase consideration; a fee-based "For-Sale-By-Owner" section that will allow property owners to list their own properties for sale; a foreclosure directory (for properties undergoing the foreclosure process); a buyer registry so real estate buyers can affiliate with the company; an extensive glossary of real estate terminology; real estate industry news; and much more. The website will be perfectly optimized for maximum search engine penetration, and promoted and advertised through traditional and contemporary means. Fee-based banner advertising will also be made available to real estate-related businesses once the website is drawing sufficient traffic. "Home Sales Express is innovative and can provide us with an unlimited growth potential via the internet," Anthony said. It reinforces Union Equity's current focus across the board and there are at least a dozen ways to build out the website to include various revenue streams. The concept was designed to be applied nationally." Over the past several weeks Anthony has been working closely with graphic arts experts, web designers and trademark attorneys to create a highly recognizable logo, develop proprietary language and secure intellectual property rights for Home Sales Express. "The website is going to be a powerhouse and should give us access to unique opportunities that may otherwise go undiscovered," Anthony said. "I've seen variations on the concept in practice but in my opinion they all fall short because the websites are not comprehensive in nature. We intend to pull out all the stops and build a dynamic internet presence. Our goal is to establish one of the premier `go-to' websites in the real estate industry." The website will debut in the coming weeks. On May 10, 2005 Anthony executed a lock-up agreement that will prohibit him from selling any of his personal company stock on the open market until November, 2006. Without the agreement in place, Anthony would have been allowed to begin selling his stock on the open market this coming November, 2005, in accordance with Rule 144. The completed lock-up agreement is currently posted on the company's web site on the Shareholder Center page. Union Equity CEO Michael Anthony met May 5, 2005 with a representative from the company's accounting firm Bagell, Josephs & Company, LLC to begin preliminary work on audited financials for the company. Due to its "non-reporting" status, Union Equity is not required to complete audited financials but has elected to do so anyway. The company's upcoming financial statements will reflect activity for the year of 2004. The company plans to continue to complete audited financial statements from this point forward in order to eventually achieve reporting status. Bagell, Josephs & Company is registered by the PCAOB (Public Company Accounting and Oversight Board) and is part of the BDO Seidman alliance of accounting firms. BDO Seidman is the fifth largest international accounting firm. Bagell, Josephs & Company was recently rated as one of the top 100 auditing and accounting firms nationwide. About Union Equity Union Equity is a national real estate development and holding company, specializing in the fields of Residential Property Development, Mortgage Finance and Construction of New Residential Properties. The company operates independently and through its wholly-owned subsidiaries Eden Development Group and Home Sales Express and plans to grow aggressively over the next two to three years through acquisitions, mergers, internal growth and the development of a dynamic internet presence. About the Industry Florida ranked fifth nationally in housing appreciation in 2004 and is the nation's ninth most expensive housing market. Las Vegas has been the fastest-growing city in the United States for nearly 20 years and is one of the top housing markets in the country. Home prices in Las Vegas increased by nearly 50 percent in the past year. [/QB][/QUOTE]
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