Veteran Homebuilder Rick Peters Launches Firm to Guide Banks, Trustees, Land Owners and Others Through Distressed Real Estate Market

ORANGE COUNTY, CA--(Marketwire - November 10, 2008) - Veteran homebuilder and land-development expert Rick Peters has launched a consulting firm to help banks, trustees and other holders of distressed property survive and thrive in today's volatile world of real estate.

R.E. Peters Company offers its clients expertise and industry connections built over the nearly three decades Peters spent as director of construction for Fieldstone Communities Inc.'s California division. Peters is one of the most well-known and widely respected experts on the state's development scene, having overseen the design, construction and warranty of more than 12,000 homes.

"I formed R.E. Peters Company to help those associated with distressed properties overcome obstacles, solve problems and find the most productive and value-added path forward for troubled assets and projects," Peters said. "I have devoted my entire professional life to California's building industry. Now that industry and its stakeholders face challenging times. So with three decades of industry experience, my company is prepared to share its proven level of expertise with anyone facing critical decisions related to troubled properties throughout the State of California."

Peters is gearing his firm to focus on problems faced by lending institutions, land owners or court-appointed trustees after taking possession of troubled assets. Those assets could range from large, partially built residential communities, to scattered collections of single-family homes in foreclosure, to incomplete commercial projects such as shopping malls.

California's real-estate market is being flooded with such assets in the wake of the housing industry collapse and associated credit crunch.

The Peters firm's services run the gamut from initial site-assessment and cost-to-complete analysis to development services, entitlement and coordination of both horizontal and vertical construction.

Peters' reputation as a people-oriented, plugged-in executive has earned him across-the-board trust from development industry stakeholders and employees as well as government and utility officials. See testimonials. Rick was a board member for 10 years with the Home Builders Council/Building Industry Association of Southern California and co-managed one of the largest Habitat for Humanity projects to date in Southern California. He is an industry-recognized authority on every aspect of homebuilding, from systems management and purchasing to contractor and customer relations.

For more information, call 714-713-1277 or visit www.repeterscompany.com

Contact Information: Media Contact Only: Genevieve Anton Anton Communications Inc. 714-544-6503 p www.antonpr.com