Schuler Homes joins as Twentieth Member

Austin, Texas – April 9, 2001 Builder Homesite, Inc., the emerging builder-founded consortium for the new home market, today announced that the Schuler Homes has signed up as the twentieth consortium member. Schuler Homes (Builder 100 ranked 30) recently merged with Western Pacific (Builder 100 ranked 42) to become one of the top fifteen builders in the United States.

Builder Homesite is backed, endorsed and driven by a consortium of the nation’s premier homebuilders and focused on improving the home selection, buying and ownership experience through the use of online technologies. BHI products are being designed to provide consortium members with the benefits of new sources of revenue from an open, un-biased new home channel, reduced technology acquisition costs and the monetization of each builder’s home and community assets. The 20 consortium members represent over $34 billion in gross revenue for 2000 and build over 162,000 homes across the continental United States.

“We are very excited to be part of the Builder Homesite consortium,” said James Schuler, President, CEO and Co-Chairman of Schuler Homes. “We know the Internet is changing the way people shop for homes. Our participation in the consortium is right on track with our long term Internet strategy.”

“Schuler Homes is a great addition to the Builder Homesite consortium,” said Tim Costello, President and CEO of Builder Homesite. “With over fifteen of our members in the top twenty-five homebuilders, we have an unsurpassed representation of key industry players in the consortium. We are committed to developing and bringing to market innovative Internet-based solutions that meet the most critical needs of our homebuilders and their customers.”

New Home Industry

According to Hanley Woods 2000 Builder 400 Report, the top 200 builders in the United States are responsible for over $56 billion dollars in revenue (Single Family Detached Homes) with over 320,000 closing annually. The membership of the Builder Homesite consortium dominates this list and are responsible for over 50% of the homes built by the Top 200 Builders in the United State.

Paine Webber’s eBuilder Report states that builders effectively using the Internet could see profits per-home improving by up to 30% in the next ten years. Consumer use of the Internet during the home selection process is increasing–research studies show that 62% of all new homebuyers already use the web for sources of information and service. Other research has revealed that over 85% of consumers will use or plan to use the Internet to shop for homes in the next two years.

Schuler Homes

Schuler Homes designs, builds, and markets single-family attached and detached homes to entry-level and first and second move-up buyers in major suburban markets in Northern California, Southern California, Colorado, Hawaii, Oregon, Washington, and Arizona.

About Builder Homesite, Inc. and NewHomeSource.com

Founded in Austin, TX in 2000 by a consortium of 32 of the nation’s largest homebuilders, Builder Homesite, Inc. (BHI) represents over 225,000 new home sales annually. BHI’s mission is to offer improved technology and marketing solutions for the new home industry. The first product by Builder Homesite is NewHomeSource.com, a consumer website offering the most comprehensive information and selection of new homes available on the Internet. Because of the extensive distribution network, more and more builders are making BHI their entry point into the Internet. By providing data to New Home Source, builders can also participate in BHI online partner channels, including Yahoo, eBay, CitySearch, Homegain, newspaper and realtor websites.

If you are a member of the media and have a question or interview request, please contact:

• Eleanor Bowman
  (512) 413-5278