The Five Star Institute and its sponsors capped the Five Star Conference and Expo Tuesday, as thousands of industry leaders gathered to celebrate the dream of homeownership during the Keys for Life Reception and Concert.
While Five Star CEO and President Ed Delgado said that we are currently operating in tranquil times, the industry should now begin to prepare for when the market turns.
“There will be a downward housing cycle,” Delgado said. “There will be volatility in the marketplace. Interest rates will rise again, and sadly, so will foreclosures. But we should not subscribe to the self-fulfilling prophecy of manics and crashers, we should be prepared to learn from everything that we’ve endured on this journey, and be as strong as we can possibly be.”
Delgado added that what mattered most during those times of crisis was how the leaders reacted, showing a “perseverance, resolve, and an unwavering determination to be the very best at all times.” “We fought hard to maintain the promise and reward of homeownership. We always worked together to serve the greater good,” he said. “We refused to bow to petty squabbles and arguments because we realized that together we made a difference, and that together we could accomplish anything.
“It is because of these beliefs that we are stronger as one. And we find ourselves in a better position today than we were five years ago. Than we were 10 years ago.”
Also included in the Keys for Life Reception and Concert was the awarding of mortgage-free homes. The military veterans honored with mortgage-free homes were: Navy Petty Officer Second Class Sonisha Alcide of Kerhonkson, New York; Air Force Staff Sergeant Jonathan Norena of Fort Pierce, Florida; Air Fore Staff Sergeant Mark Porter of Henderson, Nevada; Army Specialist Jessica Tutt from Madison Heights, Michigan; and Air Force Senior Airman Tiffany Walker of North Olmstead, Ohio.
"I think it's fantastic. I'm also a disabled vet, but I think it's great that we're giving back to people that are serving for us,” said Luigi Caprio a Realtor out of Sacramento, California, said of the event. “Especially in my era—from Vietnam—it wasn't the same when we came back. But I am so glad that people appreciate what the military does for us."
Rushmore Loan Management Solutions donated $25,000 to Operation Homefront, and Auction.com gave $50,000 to Operation Homefront.