Consortium Membership Increases to 29
AUSTIN, Texas – May 11, 2001 Builder Homesite, Inc., the emerging builder-founded consortium for the new home market, today announced that McGuyer Homebuilders Inc. (MHI), ranked 37th in the Builder 100, has signed up as the 29th consortium member. MHI builds its signature brands of home, Coventry Homes, Plantation Homes, and Pioneer Homes in the five largest markets in Texas.
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 29 consortium members represent over $37 billion in gross revenue for 2000 and build over 177,000 homes across the continental United States.
“MHI is very excited about the opportunity to be part of the Builder Homesite consortium, and join with the other builders to define the future of the homebuilding market,” said Frank McGuyer, Chairman and CEO. “The Internet is an integral part of our business initiatives and many of the products and services planned by Builder Homesite are right in line with our needs. At MHI, we see exceptional market opportunity in leveraging the Internet’s potential and being able to deliver immediate value to our customers.”
BHI consortium members represent a huge cross-section of the homebuilding market,” said Tim Costello, President and CEO of Builder Homesite. “MHI is an important builder in the Texas Market. Like each member, they bring expertise that is invaluable and will help us develop the most comprehensive set of services and tools on the web and for the home building market in general.”
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 McGuyer Homebuilders, Inc.
For more than a decade, McGuyer Homebuilders, Inc. and MHI Partnership, Ltd. (MHI) have been building quality homes that have provided the foundation for what has become the company’s core identity-the mark of integrity. MHI is recognized for their home designs, interior designs and marketing programs. Building under three distinct brands Coventry Homes, Plantation Homes and Pioneer Homes, MHI homes display architectural features that enhance “lifestyle integrity” – from open, flowing floor plans to low-maintenance exteriors. MHI builds in Austin, Dallas, Fort Worth, Houston and San Antonio, Texas.
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