Escrow of the West Reports Increase in Real Estate Closings for the First Half of 2014 as a Result of Increased Activity from Residential Subdivision Projects

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Independent, full service Southern California escrow company also serving Nevada and Arizona markets is gaining traction among real estate developers for its expertise in handling high-volume tract projects

We strive to gain the confidence of developers in the early stages of the process by demonstrating our efficiency in expediting high volumes of complex closings with ease.

Escrow of the West, (http:http://www.escrowofthewest.com), a full-service escrow company operating in California, Arizona, and Nevada specializing in both residential and commercial closings, is reporting a surge in business resulting from small and large scale subdivision projects. “The increase in successful closings executed during the first half of 2014 can be directly linked to new home sales of new units coming online from recent residential housing developments,” notes Galit Ofengart, President and Principal of Escrow of the West. The company bases its findings on an analysis of year-to-date purchase price transaction data from successfully closed escrow files handled by its Beverly Hills and Woodland Hills locations.

While data for all escrow categories reflected encouraging results for 2014, closings from residential subdivisions outperformed individual single family purchases, refinances, and other transaction types Escrow of the West specializes in. Since January 1st, Escrow of the West has participated in closings for almost $250 million in transactions (based on aggregate purchase price) generated exclusively by new subdivision projects in the Southern California area. The recent success, Ofengart observes, is a result of “gaining the confidence of developers in the early stages of the process by demonstrating our efficiency in expediting high volumes of complex closings with ease.”

Closing services for residential subdivision projects is one of Escrow of the West’s core competencies, as a result of its unique approach to partnering with developers. Marc Brooks, Executive Vice President of Escrow of the West specializing in residential subdivision projects, takes pride in the strategic support they provide both developers and real estate professionals in addition to standard closing services. This includes participating in initial concept meetings prior to construction, providing guidance on regulatory issues that could impact final sale and timely closings, and application of electronic document distribution and approval utilizing DocuSign® e-document solutions. “At the end of the day,” states Brooks, “Our primary job is to work in the background to facilitate a smooth closing to the satisfaction of developers, real estate agents, and buyers. Escrow of the West gets involved at the beginning of the process to ensure the end result occurs effortlessly for all parties involved.”

About Escrow of the West

Escrow of the West, an independent escrow company specializing in residential and commercial closings with licenses in California, Arizona, and Nevada, is licensed by the Department of Business Oversight and is a member of the Escrow Agents Fidelity Corporation. Escrow of the West, through its principals, has more than 75 years' experience in both residential and commercial real estate. For more information, visit http://www.escrowofthewest.com.

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Wendell J. Grayson
Escrow of the West
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