New Homes Realty Appoints Industry Veteran Steve Kropper to Board of Directors.

BOSTON, May 10, 2006   -- New Homes Realty has appointed Steve Kropper to the company’s Board of Directors.  New Homes Realty, Inc. is based in Clearwater, FL, and provides Buyer's Agent services for new and resale homes in 38 states with its network of over 400 licensed real estate agents and brokers. The appointment was made at the first meeting following acquisition by Boston based Alta Communications.

Steve Kropper founded Domania which was acquired by LendingTree.  Most recently he was Senior Vice President of Equinox, a mortgage outsourcing and customer acquisition firm.  Steve is a member of the Mortgage Banker’s Association Loan Production Committee, a regular speaker and writer at national real estate and residential finance events and a contributor to the MBA's Mortgage Banking magazine. 

New Homes Realty, Inc.’s. family of Web sites, including http://www.newhomes.com, receives a million visitors per month and generates thousands of home buyer leads for its network of real estate agents and brokers. NewHomes.com was founded by Richard J. Davis in 1992 as New New Homes Real Estate in Clearwater, Florida. From the beginning, NewHomes.com developed a specialized niche by appealing to homebuyers seeking a new home. In 1994, the company launched one of the first real estate Web sites on the Internet and has developed its own network of Buyer Agents, who are licensed real estate agents, throughout the fastest growing new home markets in the United States.

“New Homes will benefit from Steve’s expertise in online mortgage media and his strategies focused on incubating leads to increase conversion”, states Val Marks, New Homes President and Chief Executive Officer.

“We are honored to be joined on the board by a online real estate veteran with the experience and caliber of Steve Kropper”, states Tim Dibble, Managing General Partner at Alta Communications.

About Alta Communications

Alta Communications is a Boston-based private equity firm formed in 1996 to focus exclusively on the media and telecommunications industries. Currently Alta has approximately $1.5 billion of capital under management in five limited partnerships. Limited partners consist primarily of large pension funds and university endowments. The investment team has more than 100 years of collective communications experience.

About New Homes Realty, Inc

Founded in 1994, Clearwater-based New Homes Realty, Inc. is a full-service online real estate company that uniquely couples lead generation/online media with a national sales network. The New Homes Realty family of web sites allows buyers to view new homes, resale homes, and floor plans, read community descriptions and school reports, and find knowledgeable Agents in their area. The New Homes Realty sales network includes over 450 licensed Real Estate Agents and Brokers in 36 states. New Homes Realty delivers exceptional home buying experiences by focusing exclusively on the buyer to help them find the perfect home.

Contact - Frank Pipolo
New Homes Realty, Inc.
1-800-251-9595
frank.pipolo@newhomes.com