Housing Giants - November 10, 2008 - (Page 27) “we will never be at that bottom level. we won’t discount just for the sake of the sale. it’s not all about price. the home still has to fit their needs, and it takes more than price to deliver that.” — Carolyn Morrison Here are key strategies Mattamy’s Arizona division follows: 1. Look to tHe LocaLs While some industry veterans might question the company’s decision to expand into a new market while the market soured, others readily see the up side to such a move. For example, with many trades out of work, Mattamy has used “local industry professionals, people who have been through the market and its changes,” says Morrison. 2. target Your market Mattamy has chosen its target market carefully, too. Because many existing homeowners are having trouble selling their homes these days, Mattamy has focused more heavily on first-time home buyers and renters. About 95 percent of the customers have been first-time home buyers, Morrison says. homes per month as of September 2008. About 60 home buyers have moved into the Mattamy community, ahead of the desired 50 homes per year in the 242home site development. About 46 of those have moved in since January, and Mattamy has been averaging about five new homeowners a month. Around mid October, another 17 homes were in the process of being built. “We are above our closing budget for our fiscal year and are already in the process for picking up two to three more parcels and planning for future growth,” says Carolyn Morrison, vice president of operations. 3. keep inventorY Mattamy tries to keep homes in inventory for buyers who need to close fast, such as renters who suddenly find out that their landlord’s property has been foreclosed. www.Housinggiants.com 11.10.08 Housing giants 27 http://www.housinggiants.com
Table of Contents Feed for the Digital Edition of Housing Giants - November 10, 2008 Housing Giants - November 10, 2008 Contents Viewpoint News & Moves Tech M&A Takeaways Housing Giants - November 10, 2008 Housing Giants - November 10, 2008 - Housing Giants - November 10, 2008 (Page Cover1) Housing Giants - November 10, 2008 - Housing Giants - November 10, 2008 (Page Cover2) Housing Giants - November 10, 2008 - Housing Giants - November 10, 2008 (Page 3) Housing Giants - November 10, 2008 - Housing Giants - November 10, 2008 (Page 4) Housing Giants - November 10, 2008 - Contents (Page 5) Housing Giants - November 10, 2008 - Contents (Page 6) Housing Giants - November 10, 2008 - Viewpoint (Page 7) Housing Giants - November 10, 2008 - Viewpoint (Page 8) Housing Giants - November 10, 2008 - Viewpoint (Page 9) Housing Giants - November 10, 2008 - News & Moves (Page 10) Housing Giants - November 10, 2008 - News & Moves (Page 11) Housing Giants - November 10, 2008 - News & Moves (Page 12) Housing Giants - November 10, 2008 - News & Moves (Page 13) Housing Giants - November 10, 2008 - Tech (Page 14) Housing Giants - November 10, 2008 - Tech (Page 15) Housing Giants - November 10, 2008 - Tech (Page 16) Housing Giants - November 10, 2008 - Tech (Page 17) Housing Giants - November 10, 2008 - M&A (Page 18) Housing Giants - November 10, 2008 - M&A (Page 19) Housing Giants - November 10, 2008 - M&A (Page 20) Housing Giants - November 10, 2008 - M&A (Page 21) Housing Giants - November 10, 2008 - Takeaways (Page 22) Housing Giants - November 10, 2008 - Takeaways (Page 23) Housing Giants - November 10, 2008 - Takeaways (Page 24) Housing Giants - November 10, 2008 - Takeaways (Page 25) Housing Giants - November 10, 2008 - Takeaways (Page 26) Housing Giants - November 10, 2008 - Takeaways (Page 27) Housing Giants - November 10, 2008 - Takeaways (Page 28) Housing Giants - November 10, 2008 - Takeaways (Page 29) Housing Giants - November 10, 2008 - Takeaways (Page 30) Housing Giants - November 10, 2008 - Takeaways (Page 31) Housing Giants - November 10, 2008 - Takeaways (Page 32)
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