Second Wave of Partners Join Consortium
AUSTIN, Texas–December 11, 2000 Builder Homesite, Inc, announced earlier this year that they have signed formal agreements with five additional members of the nation’s homebuilding community, bringing the total number of the initial consortium for this online venture to ten of the top 15 builders in the nation. New consortium members include:
• Beazer USA, Inc. (NYSE: BZH)
• Hovnanian Enterprises, Inc. (NYSE: HOV)
• M.D.C. Holdings (NYSE: MDC)
• The Ryland Group, Inc. (NYSE: RYL)
• Toll Brothers (NYSE: TOL)
“Builder Homesite welcomes the experience and expertise that these five builders bring to the consortium,” said Tim Costello, President and CEO of Builder Homesite. “Our exceptional roster of builders, the Builder Homesite executive team and business plan are being embraced by homebuilders nationwide as they support our vision and plan to use the Internet to significantly enhance the homeownership experience.”
“We are pleased to be at the forefront of fundamental changes in the homebuilding industry with Builder Homesite,” said Ara Hovnanian, President and CEO of Hovnanian Enterprises, Inc. “We believe the builder consortium will make great strides in improving the homebuilding marketplace.”
Industry-sponsored marketplaces are leading the way into the new cyber frontier, according to a recent study by Jupiter Research. Currently, the homebuilder industry is a $230 billion market in the United States. Consumer demand for technology during the homeownership process is evident in research studies that show that 62% of all new homebuyers already use the Internet for a source of information and service. Other research has shown that over 85% of consumers will use or plan to use the Internet to shop for homes in the next two years.
Presently, the new home Internet experience for the user is random, disconnected, incomplete and isolated from the actual home ownership process. Builder Homesite is an industry-sponsored marketplace that intends to change and enhance the future homebuilding experience.
About the Partners
About Beazer Homes USA, Inc.
Beazer Homes USA, Inc., based in Atlanta, Georgia, is one of the country’s ten largest single-family homebuilders with operations in Arizona, California, Florida, Georgia, Maryland, Nevada, New Jersey, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas and Virginia.
About Hovnanian Enterprises, Inc.
Hovnanian Enterprises, Inc. designs, constructs and markets single-family homes, townhomes and condominiums in planned residential communities in New Jersey, North Carolina, Pennsylvania, Virginia, Maryland, New York, California, Texas and Florida in the United States, and in Poland.
About M.D.C. Holdings
M.D.C. Holdings is one of the largest homebuilders in the United States. The Company also provides mortgage financing, primarily for M.D.C. Holdings’ homebuyers, through its wholly owned subsidiary, HomeAmerican Mortgage Corporation. M.D.C. Holdings is a major regional homebuilder with a significant presence in some of the country’s best housing markets. The Company is the largest homebuilder in metropolitan Denver; among the top five homebuilders in Northern Virginia, suburban Maryland, Tucson and Colorado Springs; and among the top ten homebuilders in Phoenix, Las Vegas, Southern California and the San Francisco Bay area.
About Ryland Group, Inc.
With headquarters in Southern California, Ryland is one of the nation’s largest homebuilders and a leading mortgage-finance company. The Company currently operates in 19 markets across the country and has built more than 170,000 homes and financed over 150,000 mortgages since its founding in 1967.
About Toll Brothers
Toll Brothers currently operates over 140 selling communities in twenty states: Arizona, California, Connecticut, Delaware, Florida, Illinois, Massachusetts, Maryland, Michigan, New Hampshire, New Jersey, Nevada, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, Tennessee, Texas, and Virginia. Toll Brothers is the only publicly traded home builder to have won all three of the industry’s highest honors: America’s Best Builder from the National Association of Home Builders, the National Housing Quality Award and Builder of the Year. For more information visit www.tollbrothers.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