Consortium Membership Increases to 30
Austin, Texas – July 11, 2001 Builder Homesite, Inc., the emerging builder-founded consortium for the new home market, today announced that Standard Pacific Corporation, ranked 13 in the 2001 Builder 100 by Hanley-Woods, has signed up as the 32nd 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, un-biased new home channel, reduced technology acquisition costs and the monetization of each builder’s home and community assets. The thirty-two consortium members represent over $46 billion in gross revenue for 2000 and build over 203,000 homes across the continental United States annually.
“Technology is changing homebuilding and homebuying,” said Stephen J. Scarborough, Chairman of the board and CEO Standard Pacific Corp. “At Standard Pacific, we see the Internet as a powerful tool that will substantially improve the homebuying and homeownership experience. We are excited to join this dedicated group of builders who are focused on advancing technology initiatives for our industry.”
“We are thrilled that Standard Pacific, a top 15 builder, has joined the consortium,” said Tim Costello, President and CEO of Builder HomeSite. “We expect they will be an active participant in defining the future tools and products that will be required to complete the digitization of the entire new home lifecycle.”
New Home Industry
Currently, the new home market is estimated to be a $230 billion market 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 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.
About Standard Pacific Corp.
Standard Pacific, one of the nation’s largest homebuilders, has built homes for more than 44,000 families during it’s 35-year history. The Company focuses it efforts on constructing move-up hames with a wide range of price and size. Standard Pacific operates in some of the strongest housing markets in the country with operation throughout the major metropolitan areas in California, Texas, Arizona and Colorado. The Company also provides mortgage financing and title services to its homebuyers through its subsidiaries and joint ventures, Family Lending Services, SPH Mortgage, WRT Financial and SPH Title. For more information about the company and its new home developments please visit their website at: standardpacifichomes.com
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