Meet Theresa Ward: The Founder of New Local Realty
In our Meet the Team series, we’re covering a different New Local Realty team member each week, giving you a deep dive into the people who drive our company and community forward. This week: Theresa Ward, New Local Realty’s Founder!
As the founder of New Local Realty, Theresa Ward is passionate about transforming communities through real estate. A prolific writer on LinkedIn, where she shares her thoughts for enhancing neighborhoods and building better cities, Theresa is also Pittsburgh’s Home Girl, a name she chose for her focused commitment to creating better housing all over Pittsburgh.
We sat down with Theresa to get a better idea of who she is as a person and as a committed professional.
Theresa Ward: Personal Bio
Where were you born?
I was born at Magee Women’s Hospital, but I grew up in Greenfield!
How long have you lived in Pittsburgh?
My entire life. And most of it has been spent in Greenfield.
Where did you go to high school?
Taylor Allderdice and Seton LaSalle.
Which part of Pittsburgh do you call home today?
Pittsburgh is my home, and I even go by Pittsburgh’s Home Girl! But no matter where I go or move in this community, Greenfield will always be home to me.
What is your favorite hidden gem in Pittsburgh?
My home, which I just bought in August 2021! Not many people know about it because it’s on a dead-end street, but I love it for its location and history. It’s known as “The Sandlot House” (after the movie) because it’s right beside the Bud Hammer baseball field and the gentleman who used to live here raised big dogs in the yard!
Favorite Pittsburgh neighborhood?
If you haven’t guessed by now, it’s Greenfield! I love the community there. There are generations of families that have been there since the neighborhood started, so everyone knows each other.
I also appreciate how convenient its location is. Within 20 minutes, you can be anywhere in Pittsburgh.
Where did you go to college? What is your degree?
I’ve done everything! I started community college at CCAC right out of high school. I was a single mom working three jobs and trying to make my mortgage payments each month, and I eventually earned my associate's Degree in Liberal Arts & Sciences.
After that, I went to CMU’s program for EMTs, and then I went to Pitt for Political Science, Anthropology, and even Biomathematics. From there, I went to Duquesne to study Educational Leadership.
I love learning. I’m only 11 credits shy of earning my Bachelor’s degree, so I’d like to go back and finish that within the next few years.
Theresa Ward: Professional Bio
How did you get involved in real estate?
I was cleaning houses for investors, often getting into the homes after a tenant left or once renovations were completed.
I asked the person I was working for, “How can I make more money?”
His answer was transformational. He told me I could help find distressed properties, but I’d have to go through training and get a real estate license.
Once I earned that license, I knew I’d found the industry I wanted to work in for the rest of my life.
What are your strengths as a real estate professional?
I’m great at listening to people and really understanding what they want and need, both in the real estate transaction and in how that transaction can and should impact their life.
But I also love the numbers end of the business and trying to make puzzles work. My goal in every transaction is to develop a win-win situation for both the buyers and the sellers.
In fact, I was up until 6:00 AM this morning trying to develop a win-win outcome for our latest deal. It took us longer than we had expected because it’s a complicated scenario, but we successfully found a way to ensure everyone gets a great deal.
Why did you start New Local Realty?
I truly believe we can make a huge, community-changing difference through real estate.
In every deal, I choose to put people ahead of profits, which is different from many of the faceless corporations in this space that don’t have that human-to-human connection.
When it comes to making a difference, we’re really focused on two areas:
We’re teaching people about financial education so they can step out of poverty, become homeowners, and create generational wealth.
We’re also preventing displacement. As we always say, your network is your net worth. If you’re squeezed out of your home and neighborhood because of rent prices, you’re losing the connections you’ve built with your neighbors and local family members.
What do you like about working with New Local Realty?
I love the team and their excitement. On days when I’m starting to feel tired, their excitement over the latest closing or new opportunity helps me stay energized and focused on our larger goals.
How do you think New Local Realty will impact the real estate industry in Pittsburgh and beyond?
We’re really measuring our success by the number of tenants we turn into homeowners and the
number of homeowners we turn into investors.
Beyond that, we’re also measuring the social and environmental impact of our homes and renovations through sustainable building practices that lead to lower heating costs, lower electrical costs, and even lower notes.
What do you like about the team at New Local Realty?
There’s so much I love about each team member!
Rob Moroney genuinely cares about the people we work with, and I love how present and mindful he is in every interaction. He’s also extremely family-oriented, which has really helped build our culture at New Local Realty.
Seth Bowser brings a really high-level vision and is excellent at getting into the details. He is great at Operations, and when I have an idea, he’ll help me walk through the variables and figure out how it could work in practice.
Bruce Colwell is truly passionate about transforming our communities. He’s heavily involved in building up Swissvale and the surrounding areas, and he’s great at working with people and the local government.
Greg Barr has a wonderful spiritual groundedness, and he’s constantly going back to the higher purpose of our Why.
Marina Liston is a brand new agent who is incredibly enthusiastic and energetic. She earned her license and immediately had two closings!
Nikki Tiani is overflowing with positivity, and she’s excellent at bringing new people in and introducing them to our processes at New Local Realty.
Theresa Ward: Underdog Story
At New Local Realty, we celebrate underdog stories. As a company focused on helping individuals build wealth and go from renting to homeownership, we believe in the power of overcoming obstacles, and we’ve built our company culture on the idea that when we work together, we can do anything.
What’s your underdog story?
I bought my first home during the financial crisis a little over a decade ago. I was a single mom working at Starbucks, and I really shouldn’t have bought that property.
I ended up losing it. I tried to get the property back, but it wasn’t possible.
Then I moved into a rent-to-own situation, but the real estate agent didn’t really know what she was doing, and that eventually fell through.
I tried to stay in the same neighborhood, but home values kept appreciating, and I eventually had to leave. It was tough, especially with my youngest son.
I learned a lot about real estate through the hardships in those years, and now I’m working full-time to help people stay in the homes they love.
Theresa Ward: Her Vision for Pittsburgh
How do you think Pittsburgh will continue to evolve in the next 10 years?
I think we’re going to see the economy continue to develop and more and more jobs come to Pittsburgh. We’re already seeing that happen with Big Tech, and we’re retaining more talent from our university graduates. That has helped attract additional venture capitalists, so I think the future is bright for Pittsburgh.
But we’re also seeing business come back for blue-collar workers. There’s a clear demand for improved infrastructure, and we’re also seeing exciting projects in Petrochemicals, Manufacturing, and Transportation.
What opportunities do you see in Pittsburgh for individuals interested in the real estate industry?
I think we’re going to see more and more programs for homebuyers, especially first-time homebuyers.
A few resources for homebuyers:
Local community organizations, which may have access to funding and resources.
The Urban Redevelopment Authority, which distributes a lot of funds.
Your local bank, which may have programs for first-time homebuyers.
For investors, New Local Realty provides many resources for impact investing so that you can have a deep social and environmental impact on the community.
