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					    BUILDER                                THE 2006 TOP 100 1–10

   100                                      RANK
                                           (’05 rank)
                                                         COMPANY/CEO/ADDRESS


                                                1 D.R. HORTON (p)
                                                                                                                                  2006 U.S. 2006 GROSS WHAT THEY BUILT
                                                                                                                                  CLOSINGS REVENUE* IN THE UNITED STATES
                                                                                                                                 (VS. ’05 closings) (VS. ’05 revenue) (in units)
                                                                                                                                  53,410 $15,016                      Detached for sale: 41,741
                                                                                                                                                                                                     REGION

                                                                                                                                                                                                     Northeast
                                                (1)     Donald J. Tomnitz                                                                                             Attached for sale: 11,669      South
                                                                                                                                      4%                5%




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                                                        301 Commerce St., Suite 500, Fort Worth, TX 76102                                                             EL, MU, LUX, AA, VAC           Midwest
                                                                                                                                                                                                     Southwest




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                                                        817-390-8200 • www.drhorton.com                                                                                                              West
                                                         STILL THE nation’s largest home builder, hitting record closings and revenue ... increased condo sales 42% ... Phoenix area remains top
                                                         market with 5,607 closings … has greatly reduced homes under construction from 40,000 to less than 26,000 for 2007.
                                                2 LENNAR CORP (p)
                                                             .                                                                    49,568 $16,267                      Detached for sale: 38,477      Northeast
                                               ( 3)     Stuart A. Miller                                                                                              Attached for sale: 7,191       South
                                                                                                                                     17%                17%           For-sale condos: 3,900         Midwest
                                                        700 N.W. 107th Ave., Miami, FL 33172                                                                          EL, MU, AA                     Southwest
                                                        305-559-4000 • www.lennar.com                                                                                                                West




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                                                         ADJUSTED HOME prices to current market conditions and sold $1.2 billion worth of inventory during 2006 … leapfrogged Pulte with gain of
                                                         more than 7,000 closings … planning to hold line on construction costs in order to re-build flagging margins.
                                                3 PULTE HOMES (p)                                                                 41,487 $14,274                      Detached for sale: 30,707      Northeast
                                               ( 2)     Richard J. Dugas Jr.                                                                                          Attached for sale: 10,780      South




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Donald                    CEO                                                                                                        -9%               -3%            EL, MU, LUX, AA                Midwest
                                                        100 Bloomfield Hills Pkwy., Suite 300, Bloomfield Hills, MI 48304                                                                            Southwest
Tomnitz                   D.R. Horton                   248-644-7300 • www.pulte.com                                                                                                                 West
Rank:1                                                   CUT BACK on spec building from one-third of all starts to less than 5% ... net income (-56%), revenues (-3%), and closings (-9%) were down in




                                                                                            K
                                                         2006 … Phoenix and Las Vegas were top markets … product mix is 44% active adult, 24% move-up, 17% entry-level, and 15% luxury/custom.
       fter 29 straight years of growth,

A
                                                4 CENTEX CORP (p)
                                                             .                                                                    37,539 $14,400                      Detached for sale: 29,803      Northeast
       D.R. Horton’s machine sputtered         ( 4)     Timothy R. Eller                                                              1%               -2%
                                                                                                                                                                      Attached for sale: 7,736       South




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                                                        2728 N. Harwood St., Dallas, TX 75201                                                                         EL, MU, LUX, AA, VAC           Midwest
       in 2006, reporting its first-ever                                                                                                                                                             Southwest
                                                        214-981-5000 • www.centex.com                                                                                                                West
quarter of lower revenue and sales.
With thousands of spec homes sitting                     SOLD CENTEX Home Equity Co. … reduced speculative starts, generating cash … total speculative units down year-over-year … improved
                                                         closings by 500, but revenues fell $273 million and net income fell 64%.




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vacant, Horton turned up the heat, of-
fering significant discounts and incen-         5 KB HOME (p)                                                                     32,124 $11,004                      Detached for sale: 32,124      South
                                               ( 5)     Jeffrey T. Mezger                                                                                             EL, MU, LUX, AA, VAC           Midwest
tives to close deals.                                                                                                                 4%                17%




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                                                        10990 Wilshire Blvd., 7th Floor, Los Angeles, CA 90024                                                                                       Southwest
   At the same time, the builder made                   310-231-4000 • www.kbhome.com                                                                                                                West
good on its reputation of frugality,
                                                         NON-CASH CHARGE of $343 million to earnings in fouth quarter of 2006 to align inventory and land pipeline with current market values
scrutinizing everything from its land                    … opened two communities (in North Carolina and Georgia) in partnership with Martha Stewart.
deals and trade partner contracts to
                                                6 HOVNANIAN ENTERPRISES (p)                                                       20,201            $7,016            Detached for sale: 16,176      Northeast




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items in the snack machines to cut             ( 7)                                                                                                                   Attached for sale: 4,007       South
                                                        Ara K. Hovnanian                                                             14%               19%            For-sale condos: 18            Midwest
$200 million in costs. The effort paid                  10 Hwy. 35, P.O. Box 500, Red Bank, NJ 07701
                                                        732-747-7800 • www.khov.com                                                                                   EL, MU, LUX, AA, VAC           Southwest
off. For the second consecutive year,                                                                                                                                                                West
D.R. Horton was the only builder that                    REVENUE BOOSTED by $140.3 million in land sales … leapfrogged Beazer with 14% increase in closings and 19% increase in revenue … top
sold and closed more than 50,000                         markets were Riverside, Calif. (2,362), Fort Myers, Fla. (2,253), Washington (1,895), and Houston (1,764).
homes in a fiscal year.                         7 BEAZER HOMES USA (p)                                                            17,500            $5,159            Detached for sale: 17,500      Northeast
   The celebration was short-lived.            ( 6)     Ian J. McCarthy                                                                                               EL, MU, LUX, AA, VAC           South
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                                                                                                                                     -5%                -1%                                          Midwest
First-quarter profits for fiscal year                   1000 Abernathy Rd., Suite 1200, Atlanta, GA 30328                                                                                            Southwest
                                                        770-829-3700 • www.beazer.com




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2007 plunged 64.6 percent from the                                                                                                                                                                   West
previous quarter as the builder worked                   CLOSED MORE than 1,000 homes in Phoenix (1,496), Indianapolis (1,292), Houston (1,237), and Las Vegas (1,108) … yet left Ft. Wayne and
to reduce its unsold inventory—and                       Lafayette, Ind., along with suburban Memphis, Tenn. … reduced land both owned and optioned.
CEO Don Tomnitz hit the road to moti-           8 THE RYLAND GROUP (p)                                                            15,392            $4,757            Detached for sale: 12,880      Northeast
                                               ( 8)     R. Chad Dreier                                                                                                Attached for sale: 2,512       South
vate the sales staff. “I always raise                                                                                                -8%                -1%           EL, MU                         Midwest
                                                        24025 Park Sorrento, Suite 400, Calabasas, CA 91302                                                                                          Southwest
someone’s hand, feel their pulse and                    818-223-7500 • www.ryland.com                                                                                                                West
feel their forehead,” Tomnitz said in a
                                                         OVERHAULED WEB site for better scheduling and customer service … planning to cut cycle time in 2007 … left San Diego in 2006, but
presentation at the Citigroup Global In-                 entered Coachella Valley, Calif., and Myrtle Beach, S.C. … earned $103.2 million from financial services segment.
dustrial Manufacturing Conference in
March 2007. “I tell our salespeople, ‘If        9 NVR (p)                                                                         15,139            $6,134            Breakdown unavailable          Northeast
                                              ( 10)     Dwight Schar; Paul Saville                                                                                    EL, MU, LUX                    South
                                                                                                                                     10%                17%
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they have got a pulse and they are                      11700 Plaza America Dr., Reston, VA 20190                                                                                                    Midwest
warm, write them. Take them out of the                  703-956-4000 • www.nvrinc.com
marketplace, because if you don’t, one                   JUMPED INTO Midwest market, which went from no closings in 2005 to 24% of company’s 2006 closings ... Northeast closings dropped 19%,
of our competitors will.’”—Pat Curry                     while closings in the South fell from 20% to 15% ... earned just under $100 million in mortgage banking revenue ... posted $587 million in net income.
                                             10 M.D.C. HOLDINGS (p)                                                                13,123           $4,802            Detached for sale: 12,968      Northeast
                                               ( 9)     Larry A. Mizel; David D. Mandarich                                                                            Attached for sale: 155         South
                                                                                                                                    -14%               -2%
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                                                        4350 S. Monaco St., Denver, CO 80237                                                                          EL, MU                         Midwest
                                                        303-773-1100 • www.richmondamerican.com                                                                                                      Southwest
                                                                                                                                                                                                     West
                                                         SAW ORDERS drop in 2005 and earnings in 2006, which fell 58% ... left Dallas and Houston in 2006 … built 47% in Southwest, 35% in West,
                                                         10% in Northeast … product mix was 58% move-up, 42% entry-level … earned $105 million from financial services.
                                                        *In millions   (p) = Public    AS = Affordable/subsidized      EL = Entry-level         MU = Move-up               LUX = Luxury/custom    AA = Active adult
                                                        VAC = Vacation/Second home

156   ■   BUILDER        m ay 2 0 0 7                                                                                                                                              WWW.BUILDERONLINE.COM
    BUILDER                                  THE 2006 TOP 100 11–20

    100                                       RANK
                                             (’05 rank)
                                                           COMPANY/CEO/ADDRESS


                                                                       .
                                                1 STANDARD PACIFIC CORP ( p)
                                                 1
                                                                                                                                  2006 U.S. 2006 GROSS WHAT THEY BUILT
                                                                                                                                  CLOSINGS REVENUE* IN THE UNITED STATES
                                                                                                                                 (VS. ’05 closings) (VS. ’05 revenue) (in units)
                                                                                                                                  10,763            $4,145            Detached for sale: 10,763
                                                                                                                                                                                                     REGION

                                                                                                                                                                                                     South
                                                                                                                                                                      EL, MU, LUX                    Midwest




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                                                ( 1 1)    Stephen J. Scarborough                                                     -8%               -2%                                           Southwest
                                                          15326 Alton Pkwy., Irvine, CA 92618




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                                                          949-789-1600 • www.standardpacifichomes.com                                                                                                West

                                                          SHIFTED GEARS from pursuing growth and diversification to strengthening balance sheet … net income fell 72%, much of the decrease due
                                                          to asset impairments … biggest markets were Phoenix (1,400 closings) and Tampa-St. Petersburg, Fla. (1,301 closings).

                                                                     .
                                               12 MERITAGE HOMES CORP ( p)                                                        10,487            $3,461            Detached for sale: 10,365      South
                                                ( 13)     Steven J. Hilton                                                                                            Attached for sale: 122         Southwest
                                                                                                                                      11%              15%




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                                                          17851 N. 85th St., Scottsdale, AZ 85255                                                                     EL, MU, LUX, AA                West
                                                          480-609-3330 • www.meritagehomes.com




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                                                          BUCKED THE industry trend, increasing revenue and closings, led by 2,412 in Phoenix and big sales in Houston, Dallas, and Tucson … rene-
                                                          gotiated or abandoned optioned lots due to market softness … implemented enterprise resource planning computer system.
                                               13 TECHNICAL OLYMPIC USA ( p)                                                       9,602            $2,640            Detached for sale: 7,667       Northeast
                                                ( 12)     Antonio B. Mon                                                                                              Attached for sale: 1,935       South
                                                                                                                                      2%               -14%




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Stuart




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                           CEO                            4000 Hollywood Blvd., Suite 500N, Hollywood, FL 33021                                                       EL, MU. AA, VAC                Southwest
                                                                                                                                                                                                     West
Miller                     Lennar Corp.                   954-364-4000 • www.tousa.com
Rank:2




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                                                          WAY OFF goal of 50% closings increase but did post 2% more in 2006 … 79% of closings were single-family, 21% were townhomes … lowered
                                                          costs of building supplies through deals with suppliers … 2007 goals include rebalancing land initiatives and preserving company in bad market.
    t’s tough for a national home

I                                                                                                                                  8,601            $6,123
                                               14 TOLL BROTHERS ( p)                                                                                                  Detached for sale: 6,624       Northeast
    builder to respond quickly to a             ( 14)     Robert I. Toll                                                                                              Attached for sale: 1,977       South




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                                                                                                                                     -2%                6%




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                                                          250 Gibraltar Rd., Horsham, PA 19044                                                                        EL, MU, LUX, AA, VAC           Midwest
    changing marketplace. “Like other                                                                                                                                                                Southwest
                                                          215-938-8000 • www.tollbrothersinc.com                                                                                                     West
public home builders, we don’t adjust
like a speed boat,” CEO Stuart Miller                     ORLANDO EXPANSION in 2005 yielded 422 closings in 2006 … increased bank credit from $1.2 billion to $1.8 billion … expanded urban in-
                                                          fill/tower development … will try to make opportunistic land purchases in 2007 … look to be in position to ride market rebound when it happens.




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told industry analysts in Lennar’s sec-
ond-quarter earnings call in 2006. “We         15 WEYERHAEUSER REAL ESTATE CO. ( p)                                                5,836            $3,335            Detached for sale: 5,723       Northeast
                                                ( 17)     Dan Fulton                                                                                                  Attached for sale: 113         Southwest
adjust like a cruise ship.”                                                                                                           3%                14%



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                                                          East Campus 3-3B9, P.O. Box 9777, Federal Way, WA 98063                                                     AS, EL, MU                     West
   But after a year in which the Miami-                   253-924-2345 • www.wri-online.com
based builder saw its profits plunge,
                                                          ACQUIRED MARACAY HOMES … entered Phoenix and Tucson, Ariz., markets in 2006 … hit record closings … pricing incentives helped
Lennar has attacked the situation with                    accelerate inventory reduction … slowed starts, which improved backlog.
the aggressiveness of a battle cruiser.
                                               16 HABITAT FOR HUMANITY INTERNATIONAL                                               5,820              $374            Detached for sale: 5,700       Northeast




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Every division starts each morning with         ( 18)                                                                                                                 Attached for sale: 120         South
                                                          Jonathan Reckford                                                          19%               89%            AS                             Midwest
a review of sales starts, closings, inven-                121 Habitat St., Americus, GA 31709
                                                          229-924-6935 • www.habitat.org                                                                                                             Southwest
tory, and asset base. Every afternoon at                                                                                                                                                             West
5 p.m., an executive committee at the                     GROWING INTERNATIONAL builder closed 5,820 homes in the U.S. and 20,000 in 95 countries worldwide … built 98% single-family
home office scours those reports.                         detached in U.S.
   Top priorities are strengthening the        17 SHEA HOMES                                                                       5,755            $3,045            Detached for sale: 4,713       South
balance sheet and reengineering mar-            ( 15)     Bert Selva                                                                                                  Attached for sale: 1,042       Southwest
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                                                                                                                                    -17%               -6%            EL, MU, LUX, AA                West
gins. That effort has centered on in-                     655 Brea Canyon Rd., Walnut, CA 91789
                                                          909-594-9500 • www.sheahomes.com




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creasing salesmanship, squeezing
costs out of construction, renegotiat-                    FELT CHILL of Phoenix market, where closings fell from 2,573 to 1,845 … active-adult is 34% of product mix, move-up 32%, and entry-level
                                                          27% ... despite soft market, reduced inventory 2% ... mortgage banking business yielded $37 million in revenue.
ing land deals, and managing over-
head, including significant staff cuts.        18 DAVID WEEKLEY HOMES                                                              5,360            $1,544            Detached for sale: 5,343       South
                                               ( 20)      John Johnson                                                                                                Attached for sale: 17          Southwest
   “We’re preparing for what happens                                                                                                 16%                21%
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                                                          1111 N. Post Oak Rd., Houston, TX 77055                                                                     AS, EL
when the market turns around,” Miller                     713-963-0500 • www.davidweekleyhomes.com
said in September on CNBC. “There’s
                                                          SHIFTED FOCUS from two-thirds move-up in 2005 to 62% entry-level and 38% affordable in 2006 … entered Tallahassee, Fla., Panama City,
been an inventory build-up in the mar-                    Fla., Hilton Head, S.C., and Phoenix … Houston (1,757) and Dallas (1,472) led record year for closings.
ketplace. But this is going to correct
in due time and that’s why we think
                                               19 MORRISON HOMES ( p)                                                              4,347            $1,390            Detached for sale: 3,827       South
                                                ( 19)     Steve Parker                                                                                                Attached for sale: 520         Southwest
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                                                                                                                                    -12%               -12%
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liquidity is king. It gives you the oppor-                3655 Brookside Pkwy., Suite 400, Alpharetta, GA 30022                                                       EL, MU, VAC                    West
tunity to reload when times get good                      770-360-8700 • www.morrisonhomes.com
again.”—P.C.                                              EXPANDED INTO Reno, Nev., and Ft. Myers, Fla. … planning to enter Daytona Beach, Fla., in 2007 … offered incentives to match competi-
                                                          tion, which created sales momentum … implemented new computer software system … cut cycle time through vendor relationships.
                                               20 MERCEDES HOMES                                                                   4,264            $1,300            Detached for sale: 3,534       South
                                                ( 16)     Keith Buescher                                                                                              Attached for sale: 730         Southwest
                                                                                                                                    -25%               -16%           EL, MU
                                                          6905 N. Wickham Blvd., Suite 501, Melbourne, FL 32940
                                                          321-259-6972 • www.mercedeshomes.com

                                                          COULD NOT maintain third straight year of double-digit closing growth, as closings dipped 25% and revenues fell by $250 million … as
                                                          investors disappeared, reevaluated land commitments and walked away from some, while ceasing land acquisition.
                                                          *In millions   (p) = Public     AS = Affordable/subsidized   EL = Entry-level         MU = Move-up                LUX = Luxury/custom   AA = Active adult
                                                          VAC = Vacation/Second home

158   ■   BUILDER         m ay 2 0 0 7                                                                                                                                             WWW.BUILDERONLINE.COM
    BUILDER                                    THE 2006 TOP 100 21–30

    100                                         RANK
                                               (’05 rank)
                                                             COMPANY/CEO/ADDRESS


                                                 21 M/I HOMES ( p)
                                                                                                                                      2006 U.S. 2006 GROSS WHAT THEY BUILT
                                                                                                                                      CLOSINGS REVENUE* IN THE UNITED STATES
                                                                                                                                     (VS. ’05 closings) (VS. ’05 revenue) (in units)
                                                                                                                                       4,109            $1,350            Detached for sale: 3,709
                                                                                                                                                                                                        REGION

                                                                                                                                                                                                        Northeast
                                                  ( 21)     Robert H. Schottenstein                                                                  >
                                                                                                                                                     >                    Attached for sale: 400        South




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                                                                                                                                         -4%                0%

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                                                            3 Easton Oval, Columbus, OH 43219                                                                             AS, EL, MU, LUX, AA, VAC      Midwest




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                                                            614-418-8000 • www.mihomes.com

                                                             CONTINUED EXPANSION outside Midwest, with 38% of sales in South and 16% in Northeast … $1.2 billion in sales coming from detached homes
                                                             … looking to improve Charlotte and Raleigh, N.C., operations in 2007 … but projecting 27% decrease in closings and 26% decrease in revenue overall.
                                                 22 KIMBALL HILL HOMES                                                                 4,079             $1,172           Detached for sale: 3,960      South
                                                 ( 24)      David K. Hill                                                                                                 Attached for sale: 119        Midwest
                                                                                                                                          5%                2%            EL, MU                        Southwest




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                                                            5999 New Wilke Rd., Suite 504, Rolling Meadows, IL 60008                                                                                    West
                                                            847-364-7300 • www.kimballhillhomes.com




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                                                             LEFT CLEVELAND after 103 closings, part of redeployment of assets to growing areas … not planning to enter any new markets in 2007 ...
                                                             second straight year of no expansion into new markets ... cut cycle times in each market.
                                                 23 THE VILLAGES OF LAKE-SUMTER                                                        3,963            $1,182            Detached for sale: 3,963      South
                            CEO                  ( 22)      H. Gary Morse                                                                                                 AA




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Ara                                                                                                                                      -7%                3%




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                            Hovnanian                       1020 Lake Sumter Landing, The Villages, FL 32162
Hovnanian                   Enterprises                     352-753-2270 • www.thevillages.com
Rank:6                                                       TOOK IN $137.2 million in non-building revenue from retail, leasing, golf, newspaper, and food and beverage ... increased revenue 3%, despite




                                                                                                K
                                                             a decrease in closings … all in The Villages, a Florida active adult community.
        ra Hovnanian says that he does-

A                                                                                                                                      3,781              $825
                                                 24 PASQUINELLI CONSTRUCTION CO.                                                                                          Detached for sale: 281        South
        n’t want to sound optimistic, but        ( 26)      Bruno A. Pasquinelli                                                          2%                5%
                                                                                                                                                                          Attached for sale: 3,500      Midwest




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                                                            6880 N. Frontage Rd., Suite 100, Burr Ridge, IL 60527                                                         EL, MU, AA, VAC               Southwest
        he sees the current market con-
                                                            630-455-5400 • www.pasquinelli.com
ditions as “wonderful opportunities
cleverly disguised as problems.” And                         NEW TOP MARKET, Charlotte, N.C., with 836 closings, surpassing Charleston, S.C. (622) and Chicago (507) … used discounts and in-
                                                             centives to reduce inventory … entered Houston and Austin, Texas, in 2006.




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perhaps he’s more historian than opti-
mist. He’s looked back on the 50 years           25 MHI                                                                                3,450              $749            Detached for sale: 3,450      Southwest
                                                 ( 30)      Frank McGuyer                                                                                                 EL, MU, LUX
his company has been in home build-                                                                                                       11%              20%
                                                            7676 Woodway Dr., Suite 104, Houston, TX 77063
ing and seen how it weathered any                           713-952-6767 • www.mcguyerhomebuilders.com
number of slowdowns, stalls, and
                                                             SECOND STRAIGHT year of gains after falling back in 2004 … demonstrated strength of Texas market in 2006, with 2,150 closings in Houston,
outright recessions.                                         850 in Dallas, and 450 total between San Antonio and Austin, Texas … product mix of 40% entry-level, 40% move-up, and 20% luxury/custom.
   “We’ve been through these cycles
                                                 26 WOODSIDE GROUP                                                                     3,335            $1,345            Detached for sale: 3,035      Northeast




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many times,” Hovnanian says. “Every               ( 27)                                                                                                                   Attached for sale: 300        South
                                                            Scott Nelson                                                                 -9%               -2%
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time, we’ve emerged stronger and bet-                       39 E. Eagleridge Dr., North Salt Lake, UT 84054                                                               EL, MU, LUX                   Midwest
                                                            801-299-6700 • www.woodsidegroupinc.com                                                                                                     Southwest
ter. I’m certain we will this time as well.”                                                                                                                                                            West
   With that historical perspective, the                     AFTER CLOSING more than 400 homes in four different markets in 2005, only broke 400 in Las Vegas (843) and the company’s home
current market correction should be                          base of Salt Lake City (474) in 2006.
easier to overcome than some in the              27 C.P MORGAN COMMUNITIES                                                             3,331              $509
                                                       .                                                                                                                  Detached for sale: 3,331
                                                                                                                                                                          EL, MU
                                                                                                                                                                                                        South
                                                                                                                                                                                                        Midwest
past, he says. After all, the driving             ( 31)     Tom Eggleston                                                                10%               20%
                                                                                                                                        >
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economic indicators of job growth,                          4670 Haven Point Blvd., Indianapolis, IN 46280
                                                            317-848-4040 • www.cpmorgan.com




                          M
household formation, and interest
rates are sound.                                             CUT BACK on entry-level product, decreasing to 65% of product mix (from 75% in 2005), move-up constitutes other 35% ... entering Triad area
   So, even after a bruising year (“I                        of North Carolina and hopes to be selling by May … enhanced Web site, allowing buyers to pursue sales process over Web, resulted in 15% of sales.
can’t say 2006 stands out in my mind             28 HOLIDAY BUILDERS                                                                   3,157              $701            Detached for sale: 3,157      South
                                                 ( 25)      Kim Shelpman                                                                                                  EL, VAC                       Midwest
for achievements,” he says), Hovnan-
                                                                                                                               >


                                                                                                                                        -17%                 1%
                                                                                                                               >


                                                            2293 W. Eau Gallie Blvd., Melbourne, FL 32935                                                                                               Southwest
ian’s plan for 2007 is to focus on mak-                     321-259-3130 • www.holidaybuilders.com
ing budget and to do what it’s done for
                                                             PRODUCT SHIFT from 20% vacation homes in 2005 to 60% in 2006, and 40% entry-level … no longer offering move-up … built 90% in
years—look for opportunities to grow.                        South … Palm Bay, Fla., is top market with 681 closings … left Ohio market.
   “As the market stabilizes at the
bottom, we’ll be looking for acquisi-            29 THE DREES CO.                                                                      3,154             $1,167           Detached for sale: 2,666      Northeast
                                                 ( 32)      David G. Drees                                                                                                Attached for sale: 488        South
                                                                                                                                          4%                7%
                                                                                                                                  > >



tions,” he says. “I think there will be                     211 Grandview Dr., Fort Mitchell, KY 41011                                                                    EL, MU, LUX, AA               Midwest
                                                            859-578-4200 • www.dreeshomes.com                                                                                                           Southwest
opportunities [to buy] great compa-
nies that are tired of going through                         BUILDING PRIMARILY move-up (65%) and luxury/custom (25%) and not expanding into any new markets in 2006 ... still boosted clos-
these cycles.”—P.C.                                          ings and revenue … 36% of building in the Midwest, 29% in Southwest … top market was Cincinnati (835 closings) followed by Dallas (724).
                                                 30 PERRY HOMES, A JOINT VENTURE                                                       3,141              $729            Detached for sale: 2,817      Southwest
                                                 ( 35)      Robert Perry                                                                                                  Attached for sale: 324
                                                                                                                                         17%               23%            EL, MU, LUX
                                                            P.O. Box 34306, Houston, TX 77234
                                                            713-947-1750 • www.perryhomes.com

                                                             RELIANT ON Houston for 83% of closings … missed closings projection, but improved revenue … product mix is 61% move-up, 32% entry-
                                                             level, and 7% luxury/custom … projecting $810 million in 2007 revenue.
                                                            *In millions   (p) = Public    AS = Affordable/subsidized      EL = Entry-level         MU = Move-up               LUX = Luxury/custom   AA = Active adult
                                                            VAC = Vacation/Second home

160    ■   BUILDER          m ay 2 0 0 7                                                                                                                                               WWW.BUILDERONLINE.COM
      BUILDER                                     THE 2006 TOP 100 31–40

      100                                          RANK
                                                  (’05 rank)
                                                                COMPANY/CEO/ADDRESS


                                                    31 HIGHLAND HOMES
                                                                                                                                        2006 U.S. 2006 GROSS WHAT THEY BUILT
                                                                                                                                        CLOSINGS REVENUE* IN THE UNITED STATES
                                                                                                                                       (VS. ’05 closings) (VS. ’05 revenue) (in units)
                                                                                                                                         2,951              $878            Detached for sale: 2,951
                                                                                                                                                                                                          REGION

                                                                                                                                                                                                          Southwest
                                                    ( 37)      Rodger Sanders                                                                                               EL, MU, LUX
                                                                                                                                           12%               27%




                                                                                                                                       >
                                                                                                                                     > >
                                                               5601 Democracy Dr., Suite 300, Plano, TX 75024




                                                                                                                                                                        P
                                                               972-789-3500 • www.highlandhomes.com

                                                                SURPASSED REVENUE projections with 27% increase ... biggest market Dallas, with 2,256 closings … no more than 250 closings in any other
                                                                market … built 64% move-up, 28% entry-level, and 8% luxury/custom.
                                                    32 TAYLOR WOODROW HOMES                           ( p)                               2,900            $2,183            Detached for sale: 2,358      South
                                                    ( 23)      John Landrum                                                                                                 Attached for sale: 459        Southwest




                                                                                                                                > > >
                                                                                                                                          -26%                5%




                                                                                                                                > > >
                                                               8430 Enterprise Circle, Suite 100, Bradenton, FL 34202                                                       For-sale condos: 83           West
                                                               941-554-2000 • www.taylorwoodrowhomes.com                                                                    EL, MU, LUX, AA, VAC




                                                                                                                                                                      U
                                                                BUILT 38% in the South, 35% in the Southwest, and 27% in the West … closed 26% fewer homes in 2006, excluding Canadian operations …
                                                                domestic product mix is 47% move-up, 36% entry-level, 10% luxury/custom, and small parts vacation and active adult.
                                                    33 WILLIAM LYON HOMES                                                                2,887            $1,492            Detached for sale: 2,132      Southwest
                                                    ( 29)      William Lyon                                                                                                 Attached for sale: 755        West




                                                                                                                                  > >
                                                                                                                                          -10%              -20%




                                                                                                                                  > >
                                                               4490 Von Karman Ave., Newport Beach, CA 92660                                                                EL, MU, LUX
                                                               949-833-3600 • www.lyonhomes.com
For-Sale Detached Leaders




                                                                                                  K
                                                                FINALLY TOOK company private, after board rebuffed William Lyon’s 2005 offer … closings and revenues decreased … product mix is
RANK COMPANY                U.S. DETACHED                       60% move-up, 30% entry-level, and 10% luxury/custom ... 80% of building in West, 20% in Southwest.
                                 CLOSINGS
  1       D.R. Horton                  41,741
                                                    34 CHOICE HOMES                                                                      2,843              $413            Detached for sale: 2,439      South
                                                    ( 28)      Bob Ladd                                                                                                     Attached for sale: 404        Southwest
                                                                                                                                          -14%               -8%            EL, MU
 2        Lennar Corp.              38,477                     1600 E. Lamar Blvd., Suite 340, Arlington, TX 76011
 3        KB Home                    32,124                    817-652-5100 • www.choicehomes.com
 4        Pulte Homes               30,707                      SECOND STRAIGHT year of double-digit closings decrease … top market was Fort Worth, Texas, with 936 closings, then Houston (669), and
 5        Centex Corp.              29,803                      Dallas (563) … posted 211 closings in San Antonio, a market the company plans to leave in 2007 … product mix is 77% entry-level, 23% move-up.




                                                                                                C
 6        Beazer Homes USA           17,500
 7        Hovnanian Enterprises       16,176        35 EPCON COMMUNITIES                                                                 2,782              $501            For-sale condos: 2,782        Northeast
                                                    ( 36)      Phil Fankhauser; Ed Bacome                                                                                   AA, VAC                       South
 8        M.D.C. Holdings           12,968                                                                                                  4%                4%                                          Midwest



                                                                                                                                     > > >
                                                                                                                                     > > >
                                                               500 Stonehenge Pkwy., Dublin, OH 43017                                                                                                     Southwest
 9        The Ryland Group          12,880                     614-761-1010 • www.epconcommunities.com
10        Standard Pacific Corp. 10,763
                                                                BIG PLANS for 2007, including increasing franchises by 20, moving into six new states (Nebraska, Wyoming, New Jersey, Connecticut,
                                                                Oregon, and Montana), and aiming to move into top 20 builders … product mix is 99% active adult condos and 1% vacation/second homes.
MORE AND MORE: The lead-
                                                    36 JIM WALTER HOMES                                                                  2,567              $495            Detached for sale: 2,567      Northeast




                                                                O
ing detached builders closed                                                                 ( p)
                                                                                                                                                                            EL, MU, VAC                   South
                                                    ( 39)      Mark O'Brien
12.4% more units in 2006, despite                                                                                                           9%                9%                                          Midwest
                                                               4211 W. Boy Scout Blvd., Tampa, FL 33607                                                                                                   Southwest
D.R. Horton’s closings falling                                 813-871-4811 • www.jimwalterhomes.com
3.3%. Lennar, third on the list in                              ON-YOUR-LOT builder improved closings and revenue ... shifted product mix away from entry-level (from 88% in 2005 to 80% in 2006) and
2005, closed the gap between the                                toward move-up (from 10% in 2005 to 15% in 2006) … entered Winston-Salem and Asheboro, N.C.
two with a 5,361 unit increase.                     37 ASHTON WOODS HOMES                                                                2,471              $735            Detached for sale: 1,802      South
                                                    ( 48)      Thomas C. Krobot                                                                                             Attached for sale: 276        Southwest
                                                                                                                                           28%                41%           For-sale condos: 393
For-Sale Attached Leaders                                      1080 Holcomb Bridge Rd., Bldg. 200, Suite 350, Roswell, GA 30076                                             EL, MU, LUX
                                                               770-998-9663 • www.ashtonwoodshomes.com




                            M
RANK COMPANY                 U.S. ATTACHED
                                   CLOSINGS                     NEARLY HIT 2,500 closings projection, all in South and Southwest … improved revenues by more than $210 million … laid off workers and
  1       D. R. Horton                 11,669                   negotiated price reductions from suppliers to cut fixed costs … bought less land, helping reduce inventory.
  2       Pulte Homes                 10,780        38 JOHN LAING HOMES                                                                  2,269            $1,643            Detached for sale: 1,783      Southwest
  3       Centex Corp.                  7,736       ( 34)      H. Lawrence Webb                                                           -22%          >
                                                                                                                                                        >     0%
                                                                                                                                                                            Attached for sale: 486        West


                                                                                                                                                                >
                                                                                                                                >
                                                                                                                                >


                                                               895 Dove St., Suite 200, Newport Beach, CA 92660                                                             EL, MU, LUX, AA
  4       Lennar Corp.                    7,191
                                                               949-265-2400 • www.johnlainghomes.com
  5       Hovnanian Enterprises        4,007
  6       Pasquinelli Construction Co. 3,500                    BOUGHT BY Emaar Properties, Dubai, in June … projecting big things for 2007, including 2,438 closings and $1.8 billion in revenue … formed
  7       The Ryland Group              2,512                   corporate acquisition team in 2006 … looking to expand into three new markets in 2007: Phoenix, Houston, and the Pacific Northwest.
  8       Toll Brothers                 1,977       39 MCCAR HOMES                                                                       2,265              $628            Detached for sale: 1,655      South
  9       Technical Olympic USA         1,935       ( 40)      Keith McSwain                                                                                                Attached for sale: 610
                                                                                                                                            2%               19%
                                                                                                                                     >
                                                                                                                                     >


                                                                                                                                                                            EL, MU
 10       Shea Homes                    1,042                  4125 Old Milton Pkwy., Alpharetta, GA 30005
                                                               770-206-9100 • www.mccarhomes.com
DOWNSIZING: The top 10                                          ABANDONED PLAN to start building in Jacksonville, Fla., in 2006 … resized business plan to gain more control of overhead … offered buyer
attached builders closed 4.9%                                   and Realtor incentives to move inventory, which proved moderately successful … looking to enter Columbia, S.C.
fewer units in 2006 (52,349)                        40 WCI COMMUNITIES ( p)                                                              2,215            $2,050            Detached for sale: 1,142      Northeast
than 2005 (55,046). Hovnanian                       ( 33)      Jerry Starkey                                                                                                Attached for sale: 435        South
                                                                                                                                >
                                                                                                                                >




                                                                                                                                          -24%               -21%
                                                                                                                                >
                                                                                                                                >




                                                               24301 Walden Center Dr., Bonita Springs, FL 34134                                                            For-sale condos: 638
bucked the trend closing 24.6%                                                                                                                                              MU, AA, VAC
                                                               239-498-8066 • www.wcicommunities.com
more units, as did Pasquinelli, who
increased attached closings 6.8%,                               NET PROFITS declined 95%, led by $140 million of pre-tax land impairment charges … began construction cost initiatives, including nation-
                                                                al purchasing, better architectural efficiency, and cycle-time reductions ... planning to enter Boston in 2007.
and Centex (2.9% increase).
                                                               *In millions   (p) = Public   AS = Affordable/subsidized      EL = Entry-level         MU = Move-up               LUX = Luxury/custom   AA = Active adult
                                                               VAC = Vacation/Second home

162   ■    BUILDER             m ay 2 0 0 7                                                                                                                                              WWW.BUILDERONLINE.COM
    BUILDER                                  THE 2006 TOP 100 41–50

    100                                       RANK
                                             (’05 rank)
                                                           COMPANY/CEO/ADDRESS


                                               41 AVATAR HOLDINGS ( p)
                                                                                                                                  2006 U.S. 2006 GROSS WHAT THEY BUILT
                                                                                                                                  CLOSINGS REVENUE* IN THE UNITED STATES
                                                                                                                                 (VS. ’05 closings) (VS. ’05 revenue) (in units)
                                                                                                                                   2,122              $835            Detached for sale: 2,122
                                                                                                                                                                                                    REGION

                                                                                                                                                                                                    South
                                               ( 49)      Gerald Kelfer                                                                                               EL, LUX, AA                   Southwest
                                                                                                                                      11%              64%




                                                                                                                                 >
                                                                                                                                 >
                                                          201 Alhambra Circle, Suite 1200, Coral Gables, FL 33134




                                                                                                                                                                  P
                                                          305-442-7000 • www.avatarholdings.com

                                                           ORLANDO REMAINED the company’s top market with 1,716 closings, leading to year-over-year closings increase … company pulled in
                                                           $168.4 million in revenue from land sales, golf, recreation facilities, and title insurance.
                                               42 ORLEANS HOMEBUILDERS ( p)                                                        2,079              $925            Detached for sale: 1,750      Northeast
                                               ( 38)      Jeffrey P. Orleans                                                                                          Attached for sale: 329        South




                                                                                                                           >
                                                                                                                           >
                                                                                                                                    -18%               -6%




                                                                                                                           >
                                                                                                                           >
                                                          One Greenwood Square, Suite 101, 3333 Street Rd., Bensalem, PA 19020                                        EL, MU, LUX                   Midwest
                                                          215-245-7500 • www.orleanshomes.com




                                                                                                                                                                U
                                                           PRODUCT MIX is 85% move-up, 14% luxury/custom, and 1% entry-level … 84% of for-sale housing is single-family, 15% townhomes … built
                                                           46% in South, 42% in Northeast, and 13% in Midwest … still planning to enter Phoenix.
                           CEO &               43 MCBRIDE & SON ENTERPRISES                                                        2,028              $638            Detached for sale: 1,413      South
                           President           ( 50)      John F. Eilermann Jr.                                                                                       Attached for sale: 499        Midwest
                                                                                                                                     12%                9%
Kim




                                                                                                                                     > >
                                                                                                                                       >
                                                          1 McBride and Son Center Dr., Chesterfield, MO 63005                                                        For-sale condos: 116
                           Holiday                                                                                                                                    EL, MU, LUX
Shelpman                   Builders                       636-537-2000 • www.mcbridehomes.com
Rank:28                                                    CONDO SALES shot up 480%, helping lead big boost in revenues … used aggressive marketing and price reductions to boost sales and




                                                                                            K
                                                           reduce inventory of home lots … but did see net margins dip.
        tepping in as CEO and president

S
                                               44 FIELDSTONE COMMUNITIES                                                           1,900              $605            Detached for sale: 1,900      Southwest
        of a home building company in          ( 58)      Frank Foster                                                                                                EL, MU                        West




                                                                                                                                           >
                                                                                                                                     17%               -5%




                                                                                                                                           >
        mid-2006 was a little like taking                 14 Corporate Plaza, Newport Beach, CA 92660
                                                          949-759-5400 • www.fieldstone-homes.com
over as fire chief with a wildfire raging.
But Holiday Builders board member                          PICKING UP steam in leading markets, San Antonio (723 closings) and Salt Lake City (606) … big fall-off in third market, Riverside, Calif.
                                                           (380) … product mix is 70% entry-level, 30% move-up.




                                                                                          C
Kim Shelpman answered the call when
president Richard Hawkes resigned on           45 AMERICAN WEST DEVELOPMENT                                                        1,889              $750            Detached for sale: 1,889      Midwest
                                                ( 43)     Lawrence D. Canarelli                                                                                       EL, MU                        Southwest
Aug. 17 and immediately began battling                                                                                    >
                                                                                                                          >         -14%                4%




                                                                                                                                 > >
                                                          250 Pilot Rd., Suite 140, Las Vegas, NV 89119                                                                                             West
the blaze on all fronts.                                  702-736-6434 • www.americanwesthomes.com
    Top priority was protecting the bal-
                                                           SOLD MORE than $187 million worth of land … which helped the company shrug off a 14% decline in closings in 2006 from 2005 … and still
ance sheet. Holiday concentrated on                        increase gross revenues by more than $30 million.
its backlog, weeding out as many in-
                                               46 ROYCE HOMES                                                                      1,837              $432            Detached for sale: 1,799      South




                                                           O
vestor contracts as possible. Employee         ( 56)                                                                                                                  Attached for sale: 38         Southwest
                                                          John Speer                                                                  9%                7%
                                                                                                                                 >
teams rolled out a company-wide cus-                      7850 N. Sam Houston Pkwy. W., Houston, TX 77064                                                             EL, MU, LUX
tomer service focus, “which was a little                  281-569-1111 • www.roycebuilders.com
on the waning side because of the                          CAME UP really short of goal to increase closings 87%, but did see a 9% increase … aiming for a 35% increase in 2007 closings despite weak
frenzy of building,” she says. They also                   market … company planning to use new office automation system to grow satellite markets ... Houston made up 92% of closings in 2006.
revamped the product line, forged              47 CROSSWINDS COMMUNITIES                                                           1,750              $360            Detached for sale: 869        South
strong relationships with the local Re-         ( 42)     Bernard Glieberman                                                                                          Attached for sale: 258        Midwest
                                                                                                                                    -20%              -32%
                                                                                                                          > >
                                                                                                                          >
                                                                                                                          > >
                                                                                                                          >
                                                          41050 Vincenti Court, Novi, MI 48375                                                                        For-sale condos: 623          West
altor community, and beefed up sales                      248-615-1313 • www.crosswinds.com                                                                           EL, MU, LUX, VAC




                         M
and construction training.
    In 2007, Holiday is focusing on its                    HURT BY slowdown with a big drop-off in closings and revenues … entered North Carolina, San Antonio, and Nashville, Tenn., but saw no
                                                           closings in any of those markets in 2006 … planning to enter Phoenix in 2007 and will look to develop land in Houston.
key differentiator, its status as an em-
ployee stock ownership plan (ESOP)             48 BOWEN FAMILY HOMES                                                               1,728              $404            Detached for sale: 1,392      South
                                               ( 52)      David J. Bowen                                                                                              Attached for sale: 336        Southwest
company. “Everyone has a vested in-                                                                                                  -2%                17%
                                                                                                                                 > > >

                                                          6650 Sugarloaf Pkwy., Suite 200, Duluth, GA 30097                                                           EL, MU
terest,” Shelpman says. “We care                          678-325-4500 • www.bowenfamilyhomes.com
about how every house turns out. A lot
                                                           AGGRESSIVE SALES and marketing campaigns, along with increased sales training, allowed company to keep up with 2005 sales levels and
[of the] employees lost sight of that in                   increase revenue 17% ... cut construction costs, avoiding the need to lay off employees.
the frenzy—[they were] just cranking
it out. With the slowdown, it’s a great
                                               49 FIRST TEXAS HOMES                                                                1,691              $402            Detached for sale: 1,691      Southwest
                                               ( 60)      Randall Van Wolfswinkel                                                                                     EL, MU
                                                                                                                                     18%               27%
                                                                                                                                   >



opportunity to refocus on where we                        2221 E. Lamar Blvd., Suite 960, Arlington, TX 76006
came from and why we’re here.”—P.C.                       817-640-3166 • www.firsttexashomes.com

                                                           CUT PRICES to sell more homes, all in Dallas and Houston areas … strategy worked, closings increased 18% ... estimating same level of clos-
                                                           ings for 2007 … product mix split 60% entry-level, 40% move-up … looking to improve technology in 2007.
                                               50 LEVITT AND SONS ( p)                                                             1,660              $505            Detached for sale: 1,512      South
                                                ( 51)     Elliott Wiener                                                                                              Attached for sale: 148
                                                                                                                                     -7%                14%
                                                                                                                          >
                                                                                                                          >




                                                          2200 W. Cypress Creek Rd., Ft. Lauderdale, FL 33309                                                         EL, MU, AA
                                                          954-958-1800 • www.levittandsons.com

                                                           SOLD TO BFC Financial Corp. in January 2007 for an estimated value of $286 million, though at press time deal had yet to close … pumped up
                                                           gross revenue by 14%, despite 7% decrease in closings … though company entered South Carolina in 2005, saw no closings there in 2006.
                                                          *In millions   (p) = Public   AS = Affordable/subsidized     EL = Entry-level         MU = Move-up               LUX = Luxury/custom   AA = Active adult
                                                          VAC = Vacation/Second home

164    ■   BUILDER         m ay 2 0 0 7                                                                                                                                            WWW.BUILDERONLINE.COM
      BUILDER                                  THE 2006 TOP 100 51–60

      100                                       RANK
                                               (’05 rank)
                                                             COMPANY/CEO/ADDRESS


                                                 51 THE CORKY MCMILLIN COS.
                                                                                                                                      2006 U.S. 2006 GROSS WHAT THEY BUILT
                                                                                                                                      CLOSINGS REVENUE* IN THE UNITED STATES
                                                                                                                                     (VS. ’05 closings) (VS. ’05 revenue) (in units)
                                                                                                                                       1,586            $1,100            Detached for sale: 1,586
                                                                                                                                                                                                        REGION

                                                                                                                                                                                                        Southwest
                                                 ( 45)      Mark McMillin; Scott McMillin                                                                                 MU                            West
                                                                                                                                        -20%               25%




                                                                                                                               > > >
                                                                                                                               > > >
                                                                                                                                                    >
                                                            2750 Womble Rd., San Diego, CA 92186




                                                                                                                                                                      P
                                                            619-477-4117 • www.mcmillin.com

                                                             GREW NEW market, San Antonio, into 391 closings, making it the company’s No. 2 market behind San Diego (505) … increased revenues
                                                             25%, despite 387 fewer closings … much of additional revenue came from land sales ($195.3 million) and management services ($142.4 million).
                                                 52 CENTRUM PROPERTIES                                                                 1,560              $621            Detached for sale: 2          Northeast
                                                    ( -)    Larry Ashkin; Sol Barket; Arthur Slaven; John McLinden                                                        For-sale condos: 1,558        South
                                                                                                                                        -26%               -15%




                                                                                                                                 > >
                                                                                                                                 > >
                                                            225 W. Hubbard St., Chicago, IL 60610                                                                         EL, MU, LUX, VAC              Midwest
                                                            312-832-2500 • www.centrumproperties.com                                                                                                    Southwest




                                                                                                                                                                    U
                                                             NOT IN Kansas City anymore, left in 2006 … separate entity, but often works in tandem with MCZ Development … product mix is 40%
                                                             luxury/custom, rest split evenly between entry-level, move-up, and vacation/second home.
                                                 53 CAPITAL PACIFIC HOLDINGS                                                           1,502              $555            Detached for sale: 1,502      Southwest
                                                 ( 54)      Hadi Makarechian                                                                                              AS, EL, MU                    West
                                                                                                                                        -12%              -20%
                                                            4100 MacArthur Blvd., Suite 150, Newport Beach, CA 92660
                                                            949-622-8400 • www.cph-inc.com




                                                                                                  K
                                                             MISSED 5% INCREASED closings projection, instead closings decreased 12% ... revenues fell 20% ... projecting to sell off 3,136 lots
                                                             in 2007 … anticipating closings to remain steady … Austin, Texas, was company’s top market with 491 closings, with Phoenix (427) second.
                                                 54 SCENIC HOMES                                                                       1,474              $272            Detached for sale: 1,474      South
                                                 ( 62)      Paul Meng                                                                                                     EL, MU
                                                                                                                                          6%               23%




                                                                                                                                   > >
                                                                                                                                   > >
                                                            2321 Henry Clover Blvd., Snellville, GA 30039
                                                            770-985-5084 • www.scenicnewhomes.com

                                                             BOOSTED CLOSINGS from 1,385 to 1,474 in 2006, despite weakness in the company’s primary market, Atlanta, where closings dropped to
                                                             987 from 1,065 … improved closings in Charlotte, N.C., by 38% ... 60% of all closings were move-up, the rest were entry-level.




                                                                                                C
                                                 55 ROBSON COMMUNITIES                                                                 1,473              $638            Detached for sale: 1,473      Southwest
                                                 ( 63)      Edward J. Robson                                                                                              AA, VAC                       West
                                                                                                                                          11%              16%
                                                            9532 E. Riggs Rd., Sun Lakes, AZ 85248
                                                            480-895-9200 • www.robson.com

                                                             REBOUNDED FROM decreases in closings and revenues in 2005 to increase closings 11% and home building revenues by 16% ... building
                                                             90% active adult in Arizona and Texas … plans for 2007 include increased marketing to drive more sales and raising prices to maintain margins.
                                                 56 JOHN WIELAND HOMES AND NEIGHBORHOODS                                               1,468              $753            Detached for sale: 1,106      South




                                                             O
                                                 ( 55)      John Wieland                                                                                                  Attached for sale: 337
                                                                                                                                        -14%                -1%
                                                                                                                               >
                                                                                                                               >
                                                                                                                               >
                                                                                                                               >
                                                            1950 Sullivan Rd., Atlanta, GA 30337                                                                          For-sale condos: 25
                                                            770-996-1400 • www.jwhomes.com                                                                                MU, LUX

                                                             LEAVING LOUISVILLE, KY., after starting a division there and closing 12 homes … focusing on market research to inform product and
                                                             sales strategies … training entire company to be better at sales and marketing … 94% of product mix is move-up, 6% luxury/custom.
                                                 57 G.L. HOMES                                                                         1,443              $872            Detached for sale: 1,443      South
                                                 ( 64)      Itchko Ezratti                                                                                                MU, AA
                                                                                                                                         12%               40%
                                                                                                                                   > >
                                                                                                                                   > >
For-Sale Condo Leaders                                      1600 Sawgrass Corporate Pkwy., Suite 300, Sunrise, FL 33323
                                                            954-753-1730 • www.glhomes.com




                           M
RANK COMPANY                   U.S. CONDO
                                CLOSINGS                     TOP MARKET was West Palm Beach/Boca Raton, Fla., area with 1,122 closings … rebounded from losses in 2005 to improve both revenue
  1        Lennar Corp.              3,900                   and closings … will focus on controlling costs and sales in 2007 … product mix is 67% move-up, 33% active adult.
  2        Epcon Communities         2,782       58 LEGEND HOME CORP.                                                                  1,404              $226            Detached for sale: 1,404      Southwest
  3        Centrum Properties         1,558      ( 76)      Mike Wilkinson                                                                                                EL, MU
                                                                                                                                         30%               34%
  4        The Enterprise Cos.         1,215                10410 Windermere Lakes Blvd., Houston, TX 77065
                                                            281-671-9000 • www.legendhomecorp.com
  5        MCZ Development Corp. 1,205
  6        Novare Group               1,004                  EXPANSION ACROSS Texas from company’s primary market (Houston, all 1,404 closings) hit snag, with no closings in San Antonio or
  7        Wood Partners                866                  Austin, Texas … projecting 1,600 closings and $250 million in revenue in 2007 … increased net margins.
  8        Pacific West Companies        771     59 NEUMANN HOMES                                                                      1,378              $425            Detached for sale: 932        Midwest
  9        WCI Communities              638      ( 46)      Kenneth P. Neumann                                                                                            Attached for sale: 446        Southwest
                                                                                                                                        -29%               -18%
                                                                                                                               > >
                                                                                                                               > >
                                                                                                                               > >
                                                                                                                               > >



                                                            4355 Weaver Pkwy., Warrenville, IL 60555                                                                      EL, MU, AA
 10        Crosswinds Communities 623
                                                            630-281-2000 • www.neumannhomes.com
BIG LOSSES, BIG GAINS:                                       SLIDING DOWN as closings fell 29% and revenues were off 18% ... reduced specs and sold off land … closings in Chicago, Denver, and Detroit
Lennar’s condo closings fell                                 … product mix was 50% move-up, 45% entry-level, and 5% active adult … projecting even fewer closings and significantly less revenue in 2007.
57.8%, but others gained in a                    60 DOMINION HOMES ( p)                                                                1,335              $257            Detached for sale: 1,285      Midwest
big way. The Enterprise Cos., a                  ( 44)      Douglas G. Borror                                                                                             Attached for sale: 50
                                                                                                                                        -38%              -38%            EL, MU, AA
Chicago-based builder, rode its                             5000 Tuttle Crossing Blvd., Dublin, OH 43016
                                                            614-356-5000 • www.dominionhomes.com
condo closings to No. 64 on this
year’s BUILDER 100 after being                               SUFFERED SECOND straight big drop as Midwest continues to struggle … increased discounts to match competitors ... reduced size of com-
                                                             pany to match lower sales … held onto most of its land … looking to drop land, increase sales, and return to profitability in 2007.
143 last year.
                                                            *In millions   (p) = Public      AS = Affordable/subsidized    EL = Entry-level         MU = Move-up               LUX = Luxury/custom   AA = Active adult
                                                            VAC = Vacation/Second home

166    ■     BUILDER          m ay 2 0 0 7                                                                                                                                             WWW.BUILDERONLINE.COM
    BUILDER                                  THE 2006 TOP 100 61–70

    100                                       RANK
                                             (’05 rank)
                                                           COMPANY/CEO/ADDRESS


                                               61 FISCHER HOMES
                                                                                                                                  2006 U.S. 2006 GROSS WHAT THEY BUILT
                                                                                                                                  CLOSINGS REVENUE* IN THE UNITED STATES
                                                                                                                                 (VS. ’05 closings) (VS. ’05 revenue) (in units)
                                                                                                                                   1,310              $281            Detached for sale: 790
                                                                                                                                                                                                    REGION

                                                                                                                                                                                                    Midwest
                                               ( 73)      Henry K. Fischer                                                                                            Attached for sale: 32
                                                                                                                                     14%               15%




                                                                                                                              > >
                                                                                                                                                                      For-sale condos: 488




                                                                                                                              > >
                                                          2670 Chancellor Dr., Suite 300, Crestview Hills, KY 41017




                                                                                                                                                                  P
                                                          859-341-4709 • www.fischerhomes.com                                                                         EL, MU, LUX

                                                           INCENTIVIZED SALES to cut inventory in a sluggish Cincinnati market, the company’s sole focus … improved closings 14%, selling more
                                                           detached and condos than in 2005 … planning continued expansion in Cincinnati … yet projecting a 27% decrease in closings.
                                               62 EASTWOOD HOMES                                                                   1,275              $223            Detached for sale: 1,125      South
                                               ( 94)      Joseph K. Stewart                                                                                           Attached for sale: 150
                                                                                                                                     45%               63%            EL, MU
                                                          2865 Westport Rd., Charlotte, NC, 28208
                                                          704-399-4663 • www.eastwoodhomes.com




                                                                                                                                                                U
                                                           JUMP-UP in closings led to 63% increase in gross revenues ... all $223 million dollars of which came from home building … all business in the
                                                           Carolinas … and planning to enter Wilmington, N.C., and Myrtle Beach, S.C., in 2007.

                           CEO
                                               63 ICI HOMES                                                                        1,265              $502            Detached for sale: 783        South
                                               ( 47)      Mori Hosseini                                                                                               Attached for sale: 252
Jerry




                                                                                                                            >
                                                                                                                            >
                                                                                                                                    -35%              -24%




                                                                                                                            >
                                                                                                                            >
                           WCI                            2379 Beville Rd., Daytona Beach, FL 32119                                                                   For-sale condos: 230
                                                                                                                                                                      MU, LUX, AA, VAC
Starkey                    Communities                    386-788-0820 • www.icihomes.com
Rank:40                                                    KEPT CANCELLATIONS low by requiring a standard 20% deposit … but in tough Florida market saw closings drop 35%, and revenue fall




                                                                                               K
                                                           by $160 million … 2007 plan calls for renegotiating with subcontractors to cut costs and lower prices.
        here’s just no getting around the

T
                                               64 THE ENTERPRISE COS.                                                              1,215              $558            For-sale condos: 1,215        Midwest
        fact that 2006 was a horrendous       ( 143)      Ronald B. Shipka Sr., John Shipka, Ronald B. Shipka Jr.                   139%               99%
                                                                                                                                                                      AS, EL, MU




                                                                                                                                > > >
                                                                                                                              > > > >
        year for WCI Communities. With                    600 W. Chicago Ave., Suite 750, Chicago, IL 60610
                                                          312-670-3800 • www.theenterprisecompanies.com
the bulk of its business concentrated
in the extremely soft Florida market,                      MOVED UP the BUILDER 100 from No. 143 in 2005 with a 139% increase in closings and a 99% increase in gross revenues—all from the
                                                           company’s only market, Chicago … but ready to start closing townhomes in 2007 in a new market, Palm Springs, Calif.




                                                                                             C
the Bonita Springs, Fla.–based builder
reported a 95 percent drop in profits          65 MCZ DEVELOPMENT CORP.                                                            1,205            $1,600            For-sale condos : 1,205       Northeast
                                               ( 83)      Michael Lerner                                                                                              EL, MU, VAC                   South
over the previous year. Cancellations                                                                                                21%               10%                                          Midwest
                                                          1555 N. Sheffield Ave., Chicago, IL 60622                                                                                                 Southwest
and defaults resulted in negative net                     312-573-1122 • www.mczdevelopment.com
sales in the fourth quarter.
                                                           REMARKABLE REVENUE of $1.6 billion for only 1,205 closings … all units closed were condos … product mix is 50% vacation/second
    “When America wakes up from this                       home, 35% move-up, and 15% entry-level … entered Alabama, Arizona, and New Jersey in 2006.
slump and this fear of buying homes, I
                                               66 IVORY HOMES                                                                      1,203              $440            Detached for sale: 1,203      Southwest




                                                           O
think we’ll see Florida return to one of       ( 86)                                                                                                                  EL, MU, LUX
                                                          Clark D. Ivory                                                             26%               38%
the top home building markets in the                      978 E. Woodoak Lane, Salt Lake City, UT 84117
country, as it has been historically,”                    801-747-7000 • www.ivoryhomes.com
CEO Jerry Starkey told industry ana-                       HIT PROJECTIONS, closing 26% more homes and generating 38% more gross revenue … used monthly cost-control meetings to keep
lysts in its fourth-quarter earnings call.                 handle on construction costs … created townhome division and will push sales in 2007.
    While the year was tough on several        67 CBH HOMES                                                                        1,194              $250            Detached for sale: 1,194      Midwest
fronts, it wasn’t without its highlights.      ( 57)      Corey Barton                                                                                                EL, MU, LUX
                                                                                                                                    -27%               24%
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Key accomplishments for 2006 includ-                      P.O. Box 369, Meridian, ID 83642
                                                          208-288-5560 • www.cbhhomes.com




                         M
ed a major initiative to reduce con-
struction costs. A top goal for 2007 is                    CLOSINGS DECREASED in Boise, Idaho, its only market … formerly Corey Barton Homes … implemented new communication system,
                                                           linking field and office through technology … increased move-up product from half of mix to 80%, entry-level was 16%, and luxury/custom 4%.
the completion of eight high-rise tow-
ers and the subsequent collection of           68 BROOKFIELD HOMES CORP.                           ( p)                            1,159              $888            Detached for sale: 822        Northeast
                                               ( 59)      Ian Cockwell                                                                                                Attached for sale: 337        West
                                                                                                                              >


$1 billion from purchasers at closing.                                                                                              -27%              -28%
                                                                                                                              >


                                                          8500 Executive Park Ave., Suite 300, Fairfax, VA 22031                                                      EL, MU, LUX, AA, VAC
    WCI recently retained Goldman                         703-270-1400 • www.brookfieldhomes.com
Sachs as an advisor to assess its
                                                           RESISTED BUYING any lots in 2006, focusing instead on selling inventory, including sale of 834 lots for net income of $28 million … bought
strategic options, including a sale to                     roughly one million common shares and dividends for $49 million … saw closings decrease and revenues drop.
another company. The first prospective
buyer already has appeared. Billionaire
                                               69 HISTORY MAKER HOMES                                                               1,151             $160            Detached for sale: 1,151      Southwest
                                                  ( -)    Bryan N. Mitchell Sr.                                                                                       EL, MU
                                                                                                                                     n/a                n/a
investor Carl Icahn made a $955.9 mil-                    9001 Airport Freeway, Suite 400, North Richland Hills, TX 76180
                                                          817-507-1100 • www.historymaker.com
lion offer in mid-March that called for
the ouster of Starkey and the entire                       BACK ON list after falling out of top 200 last year … built 90% entry-level and 10% move-up … all closings in Dallas/Ft. Worth area … improved
board.—P.C.                                                process management and gained efficiencies … looking to add information technology capabilities in 2007.
                                               70 OBRA HOMES                                                                       1,127              $135            Detached for sale: 1,127      Southwest
                                               ( 87)      David O. Rogers III                                                                                         EL, MU
                                                                                                                                     22%               42%
                                                                                                                               >
                                                                                                                               >



                                                          3900 N. 10th St., Suite 850, McAllen, TX 78501
                                                          956-644-4000 • www.obrahomes.com

                                                           SOLD SAN ANTONIO division to Sivage Community Development … still boosted closings and revenue, with two primary markets, Houston
                                                           (602 closings) and McAllen, Texas (525) … 90% of product mix is entry-level, 10% move-up.
                                                          *In millions   (p) = Public     AS = Affordable/subsidized   EL = Entry-level         MU = Move-up               LUX = Luxury/custom   AA = Active adult
                                                          VAC = Vacation/Second home

168    ■   BUILDER         m ay 2 0 0 7                                                                                                                                            WWW.BUILDERONLINE.COM
    BUILDER                                THE 2006 TOP 100 71–80

   100                                      RANK
                                           (’05 rank)
                                                         COMPANY/CEO/ADDRESS


                                             71 AMERICA’S FIRST HOME
                                                                                                                                 2006 U.S. 2006 GROSS WHAT THEY BUILT
                                                                                                                                 CLOSINGS REVENUE* IN THE UNITED STATES
                                                                                                                                (VS. ’05 closings) (VS. ’05 revenue) (in units)
                                                                                                                                  1,095              $273            Detached for sale: 1,095
                                                                                                                                                                                                   REGION

                                                                                                                                                                                                   South
                                              ( 74)     Ronald Wilson                                                                                                AS, EL, MU, VAC
                                                                                                                                    -3%               33%




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                                                                                                                                                >
                                                        385 Douglas Ave., Suite 3350, Altamonte Springs, FL 32714




                                                                                                                                                                 P
                                                        407-262-7900 • www.americasfirsthome.net

                                                         INCREASED TRAINING for sales team led to 70% reduction of standing inventory … boosted revenue 33% ... will integrate software
                                                         platforms and business processes in 2007 for better efficiency.
                                             72 FULTON HOMES                                                                      1,090              $381            Detached for sale: 1,090      Southwest
                                              ( 41)     Ira A. Fulton                                                                                                EL, MU, LUX
                                                                                                                                   -51%              -36%




                                                                                                                             > >
                                                                                                                             > >
                                                        9140 S. Kyrene Rd., Tempe, AZ 85284
                                                        480-753-6789 • www.fultonhomes.com




                                                                                                                                                               U
                                                         MISSED THE MARK in closings, projected a drop from 2005’s 2,202 to 1,450, but closed only 1,090 in 2006 … only builds in Phoenix market
                                                         … luxury/custom went from one-third of product mix in 2005 to just 15% in 2006, rest of product mix is 45% move-up, 40% entry-level.
                                             73 WARMINGTON HOMES                                                                  1,078              $673            Detached for sale: 880        West
                                             ( 68)      Timothy P. Hogan                                                                                             For-sale condos: 198
                                                                                                                                   -12%               -12%           AS, EL, MU, LUX
                                                        3090 Pullman St., Costa Mesa, CA 92626
                                                        714-557-5511 • www.warmingtonhomesca.com




                                                                                           K
                                                         MOVE-UP was 64% of product mix, luxury/custom decreased from 38% to 20% ... offered incentives to boost demand, which helped cut
                                                         inventory, but margins decreased … looking for smart land option deals.
                                             74 BILL CLARK HOMES                                                                  1,059              $229            Detached for sale: 678        South
                                             ( 93)      William H. Clark                                                                                             Attached for sale: 150
                                                                                                                                    20%               34%




                                                                                                                              >
                                                                                                                              >
                                                        200 E. Arlington Blvd., Suite A, Greenville, NC 27858                                                        For-sale condos: 231
                                                        252-355-2000 • www.billclarkhomes.com                                                                        EL, MU, LUX, AA, VAC

                                                         ADDED ACTIVE ADULT offerings, which made up 40% of closings … increased closings 41% in Myrtle Beach, S.C., company’s top market
On the Margin                                            … increased market share in select markets … projecting just 724 closings in 2007.




                                                                                         C
                                             75 THE ROTTLUND CO.                                                                  1,025              $259            Detached for sale: 66         South
                                              ( 71)     David Rotter                                                                                                 Attached for sale: 877        Midwest
       eal estate consultant John

R
                                                                                                                           > >     -14%               -14%



                                                                                                                           > >
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                                                                                                                           > >
                                                        3065 Centre Pointe Dr., Roseville, MN 55113                                                                  For-sale condos: 82
       Burns is predicting 2007 will be                 651-638-0500 • www.rottlundhomes.com                                                                         EL, MU, LUX, AA
       the year that builders’ profits
                                                         SHIFTING AWAY from active adult, which decreased from 25% of company’s product mix to 10% ... rest of mix is 65% entry-level, 15%
erode, but some saw that start in                        luxury/custom, and 10% move-up … planning to revise company Web site in 2007 … top market is Minneapolis with 49% of closings.
2006. Only nine builders saw gross
                                             76 PARK SQUARE HOMES                                                                 1,013              $400            Detached for sale: 810        South




                                                         O
margins of 20% or less in 2005, where        ( 69)                                                                                                                   For-sales condos: 203
                                                        Suresh Gupta                                                               -17%               -3%            EL, MU, VAC
23 builders fall into that category this                5200 Vineland Rd., Suite 200, Orlando, FL 32811
year. Last year 37 builders reported                    407-529-3000 • www.parksquarehomes.com
net margins of at least 13%, in 2006                     BRANCHING OUT for 2007, planning to start selling in Tampa, Fla., which the company entered in 2006 … also planning to enter
just 20 made that claim.                                 Jacksonville, Fla., in 2007 … but still projecting an overall 16% decrease in closings and a 31% drop in revenue.
                                             77 NOVARE GROUP                                                                      1,004              $251            For-sale condos: 1,004        South
  GROSS MARGIN              NUMBER OF       ( 107)      James R. Borders                                                                                             EL                            Southwest
                                                                                                                                    34%               20%
                                                                                                                                > > >
                                                                                                                              > > > >
                             BUILDERS*                  817 W. Peachtree St., Suite 400, Atlanta, GA 30308
  Less than 10%                      0                  404-815-1234 • www.novaregroup.com




                          M
  10%–15%                            7                   DIVERSIFYING FROM entry-level, currently 100% of product mix, into luxury, though no closings there yet … looking to move into the West …
  16%–20%                           16                   targeted marketing to specific audiences … started five new projects … acquired land for future urban market projects.
  21%–25%                           23
  26%–30%                           13       78 POLYGON NORTHWEST CO.                                                               994              $306            Detached for sale: 312        West
                                             ( 85)      Jeffery D. Gow                                                                                               Attached for sale: 412
  31%–35%                            5                                                                                               4%               20%            For-sale condos: 270
                                                        11624 S.E. 5th St., Suite 200, Bellevue, WA 98005                                                            EL, MU, AA
  36%–40%                            0                  425-586-7700 • www.polygonhomes.com
  More than 40%                      3
                                                         HIT THE MARK, by increasing revenues 20%, beating last year’s projection of a 19% increase … increased closings 4% from 959 … nearly
*67 builders responding
                                                         doubled attached closings from 208 in 2005 … still projecting a decrease to $300 million in 2007 revenue.
  NET MARGIN                NUMBER OF        79 MAIN STREET HOMES                                                                   991              $127            Detached for sale: 991        Southwest
                             BUILDERS*      ( 150)      David LeBoeuf                                                                                                AS
                                                                                                                                    111%             123%
  Less than 0%                       1                  3815 S. Capital of Texas Hwy., Suite 100, Austin, TX 78704
                                                        512-327-8620 • www.mainstreethomes.com
  0%–3%                              4
  4%                                 2                   REBOUNDED FROM No. 150 on last year’s list, with a huge increase in closings, and 123% jump in revenue, almost all from home building
  5%                                 2                   in San Antonio and Austin, Texas … added new computer system … aiming to cut home building cycle time in 2007.
  6%                                 6       80 ARMADILLO HOMES                                                                     973              $160            Detached for sale: 973        Southwest
  7%–9%                              9       ( 84)      Robert P. Gutierrez                                                                                          EL, MU
                                                                                                                           >




                                                                                                                                     -1%              10%
                                                                                                                           >




  10%–12%                           15                  14206 Northbrook Dr., San Antonio, TX 78232
                                                        210-662-0066 • www.armadillohomes.com
  13%–15%                            9
  16%–18%                            2                   SLIGHT DECREASE in closings, but 10% increase in revenue … increased pre-tax margin to 6% … goals for 2007 include lowering leverage
  More than 18%                      9                   and decreasing general and administrative expenses.
*59 builders reporting
                                                        *In millions   (p) = Public   AS = Affordable/subsidized      EL = Entry-level         MU = Move-up               LUX = Luxury/custom   AA = Active adult
                                                        VAC = Vacation/Second home

170    ■   BUILDER        m ay 2 0 0 7                                                                                                                                            WWW.BUILDERONLINE.COM
    BUILDER                                 THE 2006 TOP 100 81–90

   100                                       RANK
                                            (’05 rank)
                                                          COMPANY/CEO/ADDRESS


                                              81 THE MITCHELL CO.
                                                                                                                                  2006 U.S. 2006 GROSS WHAT THEY BUILT
                                                                                                                                  CLOSINGS REVENUE* IN THE UNITED STATES
                                                                                                                                 (VS. ’05 closings) (VS. ’05 revenue) (in units)
                                                                                                                                     965              $301            Detached for sale: 824
                                                                                                                                                                                                    REGION

                                                                                                                                                                                                    South
                                               ( 61)     John B. Saint                                                                                                Attached for sale: 42
                                                                                                                                    -32%               -11%




                                                                                                                           >
                                                                                                                           >
                                                                                                                           >
                                                                                                                           >
                                                         P.O. Box 160306, Mobile, AL 36616                                                                            For-sale condos: 99




                                                                                                                                                                  P
                                                         251-380-2929 • www.mitchellcompany.com                                                                       AS, EL, MU, LUX, VAC

                                                          HALTED NEW CONSTRUCTION, which helped company reduce inventory 30% despite offering no price cuts or special incentives …
                                                          started 332 apartments, 260 for investors … expanded resort development, which makes up 10% of product mix, 60% was entry-level.
                                              82 CASA LINDA HOMES                                                                    940              $104            Detached for sale: 940        Southwest
                                                 ( -)    Mark Dizdar                                                                                                  EL, MU
                                                                                                                                     n/a                n/a
                                                         1409 N. Main St., McAllen, TX 78501
                                                         956-631-6000 • www.casalindahomes.com




                                                                                                                                                                U
                                                          WELCOME TO the top 100, with 720 closings in McAllen, Texas, and 230 in Houston area … hired a new IT director and conducted a technology
                                                          overhaul … looking to expand within Texas in 2007, planning to enter Laredo and Corpus Christi … product mix 75% entry-level, 25% move-up.
                                              82 COMSTOCK HOMEBUILDING COS.                              ( p)                        940              $243            Detached for sale: 256        Northeast
                                             ( 120)      Christopher Clemente                                                                                         Attached for sale: 239        South
Alan B.                   CEO                                                                                                        53%                8%




                                                                                                                                 > >
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                                                         11465 Sunset Hills Rd., 5th Floor, Reston, VA 20190                                                          For-sale condos: 445
                                                                                                                                                                      EL, MU
Levan                     Levitt Corp.                   703-230-1146 • www.comstockhomebuilding.com
Rank:50




                                                                                            K
                                                          ACQUIRED CAPITOL HOMES (Raleigh, N.C.) and Parker Chandler Homes (Atlanta), helping company enter three new markets: Atlanta,
                                                          Charlotte, N.C., and Myrtle Beach, S.C. … projecting $350 million revenue for 2007 … biggest market still Washington (701 closings).
      evitt and Sons already was in

L                                                                                                                                    933              $333
                                              84 FRONTIER HOMES                                                                                                       Detached for sale: 933        West
      slow-growth mode when the mar-         ( 104)      James L. Previti                                                            18%                8%
                                                                                                                                                                      EL, MU
      ket stalled in 2006. Parent com-                   3536 Concours St., Suite 320, Ontario, CA 91764
                                                         909-354-8000 • www.frontierhomes.com
pany Levitt Corp. had tapped the
brakes in 2004 after a rapid increase                     BOUNCED ON TO top 100 ... 781 closings in top market (Ontario/Riverside, Calif.) … retrained salesforce and controlled starts, maintaining ab-
                                                          sorption rate in falling market … entered Arizona market in March 2007 by purchasing subdivisions from bankrupt Turner-Dunn Homes for $29 million.




                                                                                          C
in sales to make sure its internal sys-
tems could support long-term goals.           85 TREND HOMES                                                                         926              $303            Detached for sale: 926        Southwest
                                              ( 75)      Reed Porter                                                                                                  EL, MU, LUX
   The company was reorganized, key                                                                                        >
                                                                                                                           >        -16%                6%
                                                         890 W. Elliot Rd., Gilbert, AZ 85233
management positions were filled, and                    480-782-7250 • www.trendhomes.com
computer platforms were unified. All
                                                          FAILURE TO bring two projects to market in 2006 kept company’s sales and closings below projections ... company will bring entry-level
those costs, along with poor sales,                       homes to the market at lower prices than it did in 2006 and is projecting 1,536 closings in 2007.
contributed to a net loss of $9.2 million
                                              86 WILLIAM RYAN HOMES                                                                  910              $256            Detached for sale: 871        South




                                                          O
in 2006.                                      ( 92)                                                                                              >
                                                                                                                                                 >                    Attached for sale: 39         Midwest
                                                         William J. Ryan                                                              2%                0%

                                                                                                                                                         >
                                                                                                                               >
   “Sales are anemic, and we’ve in-                      945 N. Plum Grove Rd., Schaumburg, IL 60173                                                                  MU                            Southwest
creased our overhead in order to have                    847-995-8700 • www.ryanbldgrp.com
a better infrastructure,” CEO Alan B.                     IMPLEMENTED COMPUTER scheduling system to cut cycle time … to reduce inventory, company wrote off deposits and tried to
Levan says. “While we’re suffering                        renegotiate with buyers … builds 100% move-up … top market was Chicago, 395 closings ... projecting decline to 850 closings in 2007.
through a fair amount of pain today, we       87 WESTPORT HOMES                                                                      906              $158            Detached for sale: 906        South
feel we are in a much better position to         ( -)    John Scheumann                                                                                               EL, MU                        Midwest
                                                                                                                                     n/a                n/a
deal with these challenges today than                    9210 N. Meridian St., Indianapolis, IN 46260
                                                         317-844-0433 • www.westport-home.com




                        M
we would have been two years ago.”
   Efforts in 2006 to address the flag-                   FOUNDED IN 2003, company makes first appearance on BUILDER 100 … aiming for a 24% increase in closings to 1,120 next year … top markets
                                                          are Indianapolis (381 closings) and Charlotte, N.C. (310) … product mix is 70% entry-level, 30% move-up.
ging market ranged from incentives to
cutting headcount, but the biggest im-        88 BALL HOMES                                                                          874              $169            Detached for sale: 874        Midwest
                                              ( 77)      Ray Ball                                                                                                     EL, MU
pact came from returning to the basics                                                                                              -19%               -12%
                                                                                                                           > > >
                                                                                                                           > >
                                                                                                                           > > >
                                                                                                                           > >


                                                         3609 Walden Dr., Lexington, KY 40517
of selling houses instead of just taking                 859-268-1191 • www.ballhomes.com
orders for contracts. “We’re back to
                                                          KENTUCKY-ONLY builder closed 692 homes in Lexington and 182 in Louisville … product mix is 67% move-up, 33% entry-level … projecting
sales and marketing 101,” Levan says.                     similar closings in 2007, but $14 million decrease in revenue.
   In January 2007, Levan’s BFC Fi-
nancial, a financial holding company
                                              89 CASTLE & COOKE                                                                      869              $598            Detached for sale: 792        South
                                              ( 80)      David Murdock                                                                                                Attached for sale: 77         Southwest
                                                                                                                                    -14%               -4%            EL, MU, LUX, AA, VAC          West
that already owned roughly 17 percent                    10900 Wilshire Blvd., Suite 1600, Los Angeles, CA 90024
of Levitt, bought the builder outright,                  310-208-3636 • www.castlecooke.net
improving its debt picture and giving it                  STEEP DECLINE in for-sale luxury homes in product mix from 40% in 2004 to 10% in 2005 to just 1% last year … increased focus on entry-
access to new capital.—P.C.                               level … planning to be more aggressive in marketing to increase sales in 2007 … looking to contain inventory by controlling production levels.
                                              90 WOOD PARTNERS                                                                       866               $96            For-sale condos: 866          South
                                              ( 90)      Leonard W. Wood                                                                                              EL, MU                        Southwest
                                                                                                                                     -4%                71%
                                                                                                                                                >



                                                         1110 Northchase Pkwy., Suite 150, Marietta, GA 30067                                                                                       West
                                                         770-951-8989 • www.woodpartners.com

                                                          APARTMENTS WILL be the focus in 2007 … after closing 866 condos in 2006, company plans to leave market behind in 2007 … will concen-
                                                          trate on rentals and look to sell remaining condos this year … started 2,439 apartments in 2006 … built 87% move-up, 13% entry-level.
                                                         *In millions   (p) = Public   AS = Affordable/subsidized      EL = Entry-level         MU = Move-up               LUX = Luxury/custom   AA = Active adult
                                                         VAC = Vacation/Second home

172   ■   BUILDER         m ay 2 0 0 7                                                                                                                                             WWW.BUILDERONLINE.COM
   BUILDER                               THE 2006 TOP 100 91–100

   100                                    RANK
                                         (’05 rank)
                                                       COMPANY/CEO/ADDRESS


                                           91 ELLIOTT HOMES
                                                                                                                              2006 U.S. 2006 GROSS WHAT THEY BUILT
                                                                                                                              CLOSINGS REVENUE* IN THE UNITED STATES
                                                                                                                             (VS. ’05 closings) (VS. ’05 revenue) (in units)
                                                                                                                                 840              $656            Detached for sale: 840
                                                                                                                                                                                                REGION

                                                                                                                                                                                                Southwest
                                           ( 65)      Harry C. Elliott III                                                                                        EL, MU, LUX                   West
                                                                                                                                -34%               19%




                                                                                                                      > > >
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                                                                                                                                            >
                                                      80 Iron Point Circle, Suite 110, Folsom, CA 95670




                                                                                                                                                              P
                                                      919-984-1300 • www.elliotthomes.com

                                                       PURCHASED The Development Group and expanded into Yuma, Ariz. ... closings fell … projecting 850 closings for 2007 … closed homes in
                                                       two markets, Sacramento, Calif., and Phoenix … product mix is 60% move-up, 20% entry-level, and 20% luxury/custom.
                                           92 LAKEWOOD HOMES                                                                     837              $201            Detached for sale: 536        Midwest
                                           ( 53)      Buz Hoffman                                                                                                 Attached for sale: 301
                                                                                                                                -51%              -52%




                                                                                                                        > > >
                                                                                                                        > > >
                                                      2700 W. Higgins Rd., Suite 100, Hoffman Estates, IL 60195                                                   EL, MU
                                                      847-884-8800 • www.lakewoodhomes.com




                                                                                                                                                            U
                                                       BIG FALL-OFF in closings, down 51%, and an equally drastic 52% drop in revenues from 2005’s $415 million … while the company projected
                                                       a rebound in sales a year ago for 2007, this year’s projection is far more modest, just 825 closings.

Greatest Drop in                           93 BROWN FAMILY COMMUNITIES                                                           826              $262            Detached for sale: 826        Southwest
                                           ( 82)      David M. Brown                                                                                              EL, MU
Closings                                                                                                                        -18%              -26%
                                                      2164 E. Broadway Rd., Suite 300, Tempe, AZ 85282
                                                      480-921-1400 • www.homebfc.com
 BUILDER                     PERCENT




                                                                                        K
                            DECREASE                   ROLLING DOWNHILL, company is projecting another big drop in closings to 600 in 2007 … Southwest builder’s product mix is 70%
                                                       move-up, 30% entry-level.
 Lakewood Homes                  -51%
 Fulton Homes                    -51%      94 THE OLSON CO.                                                                      787              $400            Breakdown unavailable         West
 Dominion Homes                 -38%          ( -)    Mark Buckland                                                         >
                                                                                                                            >     0%               -4%
                                                                                                                                                                  EL
 Matthews Homes
 ICI Homes
 Elliott Homes
                                -35%
                                -35%
                                -34%
                                                      3020 Old Ranch Pkwy., Suite 400, Seal Beach, CA 90740
                                                      562-596-4770 • www.olsonhomes.com
                                                                                                                                      >
                                                       CONSOLIDATED TWO California divisions, Orange County and Los Angeles County into one Southern California division ... trying to lower
                                                       price points and shooting for 801 closings in 2007, but projecting lower revenue due to decreased prices.




                                                                                      C
 The Mitchell Co.               -32%
 Neumann Homes                  -29%       95 HUBBLE HOMES                                                                       775              $141            Detached for sale: 775        Midwest
 CBH Homes                      -27%      ( 109)      E. Don Hubble                                                                                               EL, MU
                                                                                                                                  6%               33%



                                                                                                                           >
                                                                                                                           >
 Brookfield Homes Corp.         -27%                  701 S. Allen St., Meridian, ID 83642
                                                      208-433-8800 • www.hubblehomes.com

                                                       IDAHO-BASED builder increased profits and closings in soft Midwest market and plans to hold the line with 754 closings in 2007 … hit profit
Greatest Drop in                                       goals for 2006 … working to weed out would-be investor buyers … set up training process for salesforce.
Revenue
                                           96 GRAND HOMES                                                                        773              $259            Detached for sale: 773        Southwest




                                                       O
                                            ( 91)     Stephen H. Brooks                                                                                           EL, MU
 BUILDER                     PERCENT                                                                                            -14%               -8%
                                                                                                                      >
                                                                                                                      >
                                                                                                                      >
                                                                                                                      >
                                                      15950 N. Dallas Pkwy., Suite 600, Dallas, TX 75248
                            DECREASE                  214-750-6528 • www.grandhomes.com
 Lakewood Homes                 -52%
 Dominion Homes                 -38%                   TO MAKE salesforce more effective, instituted follow-up process with customers … builds only in Dallas, where 80% of closings were move-
 Fulton Homes                   -36%                   up, 20% entry-level … projecting closings of 739 for 2007.
 Crosswinds Communities         -32%       97 PACIFIC WEST COS.                                                                  771              $205            For-sale condos: 771          West
 Brookfield Homes Corp.         -28%          ( -)    William D. Pennington                                                                                       AS, EL, MU, AA, VAC
                                                                                                                                 n/a                n/a
 Brown Family Communities       -26%                  8700 Technology Way, Reno, NV 89521
                                                      775-851-6600 • www.pacificwest.com




                          M
 ICI Homes                      -24%
 WCI Communities                 -21%                  INAUGURAL APPEARANCE on the BUILDER 100 … closed all homes in Sacramento, Calif. (421) and Reno, Nev. (350) … planning to enter
 Matthews Homes                  -21%                  Fresno, Calif., and Phoenix markets in 2007 … offered a free home give-away promotion to entice traffic.
 William Lyon Homes             -20%       98 GEMCRAFT HOMES                                                                     770              $265            Detached for sale: 500        Northeast
                                           ( 89)      William R. Luther Jr.                                                                                       Attached for sale: 270
                                                                                                                                -16%               -13%
                                                                                                                      > >
                                                                                                                      > >
                                                                                                                      > >
                                                                                                                      > >


                                                      2205 Commerce Rd., Suite A, Forest Hill, MD 21050                                                           EL, MU, LUX, AA, VAC
BAD NEWS BUILDERS: Since                              410-893-8458 • www.gemcrafthomes.com
the BUILDER 100 closed 3,948 few-
                                                       BOUGHT ASSETS of CDG Homes of Shrewsbury, Pa. … missed the mark on closings projection by almost 50% ... Philadelphia (company’s top
er homes in 2006 than 2005, it                         market in 2005) was off big … entered Richmond, Va. … sold excess land to national builders … increased incentives to move spec home inventory.
should come as no surprise that a
number of the country’s top 100            99 MATTHEWS HOMES                                                                     770              $360            Detached for sale: 770        West
                                           ( 72)      Pat Matthews                                                                                                EL, MU, VAC
                                                                                                                                -35%               -21%
builders saw their closings de-                       3202 W. March Lane, Stockton, CA 95219
cline this year. So how many saw                      209-951-5444 • www.matthewshomes.com
their closings fall? Forty-eight                       CUT PRICES and reduced inventory 40% ... closings and revenues off from 2005 levels … entered Las Vegas, closing 29 homes … also closed
members of the BUILDER 100, while                      five units in Bakersfield, Calif., another new market ... looking for continued California expansion in 2007.
35 saw their revenues fall off this      100 OLE SOUTH PROPERTIES                                                                743              $113            Detached for sale: 358        South
year. Above are the companies on           ( 112)     John Floyd                                                                                                  Attached for sale: 385
                                                                                                                                  9%               20%
                                                                                                                           >




                                                                                                                                                                  EL, MU, LUX
                                                                                                                           >




the BUILDER 100 that fell off the                     275 Robert Rose Dr., Murfreesboro, TN 37128
                                                      615-896-0019 • www.olesouth.com
most. Those falling to the Next
100 were not included.                                 NASHVILLE WAS good for all of company’s 743 closings … looking to expand into neighboring Wilson County and northern and western
                                                       Davidson County … opened a joint venture mortgage company with SunTrust Mortgage, starting to see promotions pay off.
                                                      *In millions   (p) = Public   AS = Affordable/subsidized     EL = Entry-level         MU = Move-up               LUX = Luxury/custom   AA = Active adult
                                                      VAC = Vacation/Second home

174   ■   BUILDER         m ay 2 0 0 7                                                                                                                                         WWW.BUILDERONLINE.COM

				
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