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Business Wire - Press Release
Immobel.com: Mobile, Alabama Real Estate Market Booms
12.18.07, 11:06 AM ET

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As many Real Estate markets around the country are struggling to find a way to weather the downturn, Mobile, Alabama is experiencing quite the opposite as the city has established itself as a hotbed of growth with mega-sized foreign-based investments fueling the economy.

Phoenix, Las Vegas and many areas of California are considered among the biggest "down" markets, while Mobile has quickly risen to the top of markets deemed "up," according to CNN's Money Watch.

Mobile's flourishing Real Estate market, according to Jeffrey H. Newman, executive vice president of the Mobile Area Association of Realtors(R), is deemed in part to its use of Immobel's MLS data translation services.

"We first saw the impact of having our real estate listings in foreign languages when the Alabama office of Economic Development went after the Hyundai plant," Newman said. "We were able to show Hyundai just how attractive our real estate market was, an important factor since they moved more than 50 of their Korean executives to the area. The families could see our listings in the Korean language, and it really helped make us appealing to Hyundai. Plus, it showed that we were ready to welcome them to our community by going the extra mile."

Immobel, the leading provider of multi-language technology for the real estate industry, is supporting Realtors(R), foreign-language buyers and investors by offering property listings translated into 13 different languages. Currently more than 350,000 Realtors(R) are using Immobel to translate their property listings, including those in Mobile.

In November, Germany-based ThyssenKrupp Steel broke ground on a 3,500-acre steel processing facility in northern Mobile County. The $3.7 billion dollar project, expected to open in 2010, has already awarded several site preparation contracts to local companies and when fully operational will create 2,700 permanent jobs, according to ThyssenKrupp's press announcement.

"Immobel has had a tremendous direct effect on our ability to reach international buyers and investors and to be able to tell the tale of Mobile and why it's such a great place to be," Newman added. "It shows that we are open for International Business. And that seems to be working for us"

Mobile, Alabama is located on the Gulf Coast between Florida and Texas. In 2002 Hyundai began work on a billion dollar factory there and is, now one of the largest employers in the region.

Immobel.com translates property listings into English, Spanish, Portuguese, Italian, French, German, Polish, Russian, Chinese modern, Chinese traditional, Japanese, Korean and Vietnamese. Listings are updated daily, and allow viewers to choose the currency they prefer to see prices in, as well as converting square feet to square meters for European and Latin American clients.

"Realtors(R) are able to reach out to a broader base of home and property buyers and renters by making their listings available in multiple languages," said CEO Janet Choynowski. "Mobile is a great example of how translated listings can translate into real opportunity. We like to say 'Money Talks,-it just doesn't always speak English!'"

"In any economy, reaching out to and targeting buyers with the right properties is the most important task for real estate professionals," Choynowski said. "In Mobile, Realtors(R) have every one of their property listings translated into 13 languages that can be accessed through the Web site of the Mobile Area Association of Realtors(R), which is www.MobileRealtor.com, or using www.immobel.com. It's a great tool that their Realtor Association has given them."

Immobel employs expert translators that are native to the languages they are translating No machine translation is used. Translated MLS data is available for use on Realtors'(R) own web sites, Real Estate company web sites, Realtor(R) association web sites and on the Immobel.com global portal.

About Immobel

Immobel is the leading provider of multi-language technology and services for the real estate industry. Its services are used by more than 50 Realtor(R) Associations and MLS organizations throughout the United States, including the nations largest, MRIS in greater Washington, DC with 56,000 Realtor(R) members.
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