A growing residential appraisal company has a new home in Richmond.
St. Paul, Minn.-based Forsythe Appraisals opened a branch in Richmond on Aug. 1. The new office, located in The Boulders office park at 7400 Beaufont Drive, marks its first in the Richmond market.
The area’s strong employment market drew the firm to the city, spokesman Brett Talbot said.
“What you need for housing to happen is people with jobs, and specifically people with good jobs who can afford a mortgage,” he said. “[We] did a market study and what [we] really saw was a very solid, very high level employment base.”
The Richmond office is staffed by three appraisers, including branch manager Andy Neeves. Richmond is one of five markets Forsythe has entered in the past few months. The company also recently opened locations in Norfolk, Philadelphia, Washington D.C. and Greensboro, N.C.
Forsythe specializes in residential appraisals and will offer its full range of services at the Richmond office. The company now has branches in 50 markets covering 29 states, Talbott said.
“The rapid housing recovery is spurring our expansion,” Talbott said. “It speaks to the fact that the housing market is becoming a lot more dynamic in many areas of the country.”