John Cannon Homes, Inc. Announces Property Management Services Division

Friday, April 18, 2008

Homebuilder will assist in the Construction, Maintenance and Management of Other Real Estate Owned Properties

Sarasota, Florida- John Cannon, President of John Cannon Homes, announced today that he has formed John Cannon Homes Property Management Services.

This division will assist banks and other lenders with their other real estate owned properties.John Cannon Property Management Services will complete the construction on stalled, foreclosed properties; manage completed properties while overseeing necessary repairs; schedule maintenance; and assist in the marketing and selling of these properties to qualified buyers. In addition, clients will be provided monthly inspection and status reports and accounting services. John Cannon will work with the lenders' appraisers to establish the true construction costs and values.

"As a custom home builder, every day I am made aware of the unprecedented amount of foreclosures that are taking place in Southwest Florida. We recently formed this division to assist lenders within the construction, maintenance and repair these properties. For over twenty years we have been successful building custom, single family homes and most recently commercial projects. It made sense to expand upon our remodeling services to include property management," said Cannon.

Contacts

Nancy Hielscher — (941) 361-1303