Membership in Builder Sponsored Consortium Soars to 24
Austin, Texas – April 23, 2001 Builder Homesite, Inc., the emerging builder-founded consortium for the new home market, today announced that Capital Pacific Holdings, Inc., ranked 48th in the Builder 400 2001 Housing’s Giants by Professional Builder, has signed up as the 24th consortium member.
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, unbiased new home channel, reduced technology acquisition costs and the monetization of each builder’s home and community assets. The 24 consortium members represent over $37 billion in gross revenue for 2000 and build over 174,000 homes across the continental United States.
“We look forward to participating in consortium activities,” said Hadi Makarechian, Chairman and CEO, Capital Pacific Holdings. “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.”
“It is a true measure of the value Builder Homesite provides when a builder with the stature of Capital Pacific joins the consortium,” said Tim Costello, President and CEO of Builder Homesite. “They have one of the best reputations for customer satisfaction in the industry and we look forward to their active participation in defining the future tools and products that will be required to complete the digitization of the new home market.”
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 members of the Builder Homesite consortium dominate this list and are responsible for over 50% of the homes built by the top 200 builders in the United States.
PaineWebber’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 home buyers 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.
About Capital Pacific Holdings, Inc.
Capital Pacific Holdings, Inc. is a Newport Beach-based real estate investment and development company with operations in California, Nevada, Colorado, Arizona and Texas. Capital Pacific Homes and Clark Wilson Homes, CPH’s homebuilding arms, develop new tract and semi-custom homes and have established themselves as one of the nation’s top builders of entry level, luxury and semi-custom homes.
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.
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- Eleanor Bowman