Seal Beach, CA. – January 26, 2012 – Olson Homes, Southern California’s leading developer of in-town living, announces recently released affordable flats in its new, stylish Citrus Walk community, located in Covina’s quaint downtown area. Demand is anticipated to be high for these flats, one of few affordable options currently available in Southern California.
Olson is offering 8 of its 12 single level flats as moderate-income affordable housing units. With prices starting at $240,400, these flats are $70,000 and $80,000 below market rate for comparable homes of this size and spec level, and monthly payments will be comparable to rent in the area.
“As redevelopment agencies go through re-structuring and have limited access to funds, affordable housing will become increasingly rare,” said Scott Laurie, President of Olson Homes. “Olson Homes is proud to build communities that fill cities’ needs and help make dreams come true. These flats are an incredible opportunity for moderate income families that are renting now, looking for their next step.”
Positioned over the new Olson retail storefronts in Covina’s revitalized downtown, the 8 affordable flats offer up to 1,311 square feet, 2-3 bedrooms and offer single level living above a 2-car garage. The flats, built to exceed LEED green living standards, feature energy efficient amenities including Energy Star appliances; water efficient and lead-free faucets; highly water efficient toilets; auto shut-off motion sensors in all baths, space saving tankless water heaters, and built-in recycle bins, among many other features.
The Olson Company’s numerous successful urban living developments across Southern California over the last 22 years reflect its commitment to today’s homebuyer. The Olson Company has garnered prestigious Eliant Awards for homeowner satisfaction, including a recent overall win for Mosaic Walk, which was in first place from almost 900 nationwide home communities. The Olson Company believes in “livability,” and implements a thoughtful and detail-oriented approach from concept through execution. As part of their unique approach to creating these communities, The Olson Company understands all that goes into buying a new home and provides ongoing tailored services to support the needs of its homeowners, including financial education and the exclusive Homeowner Champion Program.
For more information on the City of Covina’s affordable housing program, and how to apply and join the interest list, please visit CitrusWalk.com. To qualify, families need to have incomes in the moderate-income range, as determined by the California Department of Housing and Community Development (HCD).
About The Olson Company
Established in 1988, The Olson Company and the Olson Homes brand are nationally recognized for creating unique in-town neighborhoods in urban communities throughout California. Headquartered in Seal Beach, California, The Olson Company has successfully partnered with governmental agencies and private landowners to create innovative housing solutions designed to fulfill the lifestyle needs of today’s buyer.
SEAL BEACH, CA. – The Olson Company, the leading developer of in-town urban living, announces plans for two new residential communities in the Los Angeles area. Closing on two plots in the areas of Westchester and El Segundo for the planned communities of “Gateway Walk” and “Pacific Walk“, Olson plans to complete construction by 2012.
Olson Homes plans to create a 14 unit single family detached residential community in Westchester, with homes between 1,800 and 1,821 sq. ft., featuring 3 bedrooms with additional loft space, 2.5 baths, and 2 car garages. The new El Segundo community will consist of 12 attached townhomes, ranging in size from 1,597 to 1,622 sq. ft., with 3 bedrooms, 2.5 baths, and 2 car side-by-side or tandem garages.
Expected to be completed in 2012, both new home communities will offer desirable commutes to the nearby employment centers in the South Bay – including Los Angeles, Hawthorn, Manhattan Beach, and Marina Del Rey, as well as close proximity to the nearby beaches, and many retail, dining and entertainment options. With simultaneous construction, potential home owners interested in the South Bay will have the choice of townhome or single family detached living.
The homes, built to exceed LEED green living standards, will include energy efficient amenities including Energy Star appliances; water efficient and lead-free faucets; highly water efficient toilets; auto shut-off motion sensors in all baths, space saving tank-less water heaters, and built-in recycle bins, among many other features.
“Olson Homes looks forward to building competitively priced homes in the Westchester and El Segundo communities, our fourth and fifth communities in the South Bay area,” said Steve Olson, Chairman/CEO of The Olson Company. “The new communities will create jobs and fill a need for affordable housing in the area, as well as further underscore our commitment to building in ‘walkable’ areas.”
The Olson Company’s numerous successful urban living developments across Southern California over the last 22 years reflect its commitment to the homebuyer as top priority. With its notable homeowner satisfaction, The Olson Company has garnered prestigious Eliant Awards in six categories in 2010, including a number one ranking for the “Design Selection” experience, and second for delivering an incredible experience during the Purchase, Construction, and Customer Service phases, and ranked second for “Overall Quality” and “Sales from Referrals.” The Olson Company believes in “livability,” and implements a thoughtful and detail-oriented approach from concept through execution. As part of their unique approach to providing these communities, The Olson Company understands all that goes into buying a new home and provides tailored services to support the needs of homebuyers, such as financial education and continued support services.
To learn more about Olson Homes please visit www.OlsonHomes.com.
About The Olson Company
Established in 1988, The Olson Company and the Olson Homes brand are nationally recognized for creating unique in-town neighborhoods in urban communities throughout California. Headquartered in Seal Beach, California, The Olson Company has successfully partnered with governmental agencies and private landowners to create innovative housing solutions designed to fulfill the lifestyle needs of today’s buyer. The company works diligently with community and neighborhood groups to build a high level of awareness and broad-range community consensus around its neighborhoods. The Olson Company was awarded the prestigious “Builder of the Year” award by Professional Builder Magazine and the National Association of Home Builders.
Black Friday is upon us! While merchants are busy gearing up for a record Black Friday filled with sales, Olson Homes wants to spell out 10 reasons why shoppers should buy a new home instead. So here are our 10 reasons why it’s good to buy a home and skip the big box Black Friday sales.
1. Home shoppers have waited long enough. Good deals are available for the asking.
In case home shoppers may have missed this, this is the best buyer’s market we have seen on over 30 years. If home shoppers are waiting for the bottom, they may have already missed it! No one will ever catch the bottom mostly because no one knows where that is. The truth is it doesn’t really matter so much in the long haul.
2. Mortgages are cheap. Very cheap.
Home shoppers can get a 30-year loan for around 4.3%. In some cases home shoppers may find special buy down rates that get down to 3.75% What’s not to like about low interest rates? These are the lowest rates on record. As recently as two years ago they were about 6.3%. That drop slashes your monthly repayment by a fifth. If inflation picks up, home shoppers won’t see these mortgage rates again in their lifetime. And if we get deflation, and rates fall further, homeowners can always refinance.
3 Home shoppers will save on taxes. Tax breaks for itemization.
Here is a plus. Home shoppers can deduct the mortgage interest from their income taxes. Try doing that on your standard holiday purchases. With a new home purchase, home shoppers can deduct their real estate taxes. And they’ll get a tax break on capital gains–if any–when they sell. Sure, home shoppers need to do the math. Homeowners only get the income tax break if they itemize their tax deductions, and many people may be better off taking the standard deduction instead. The breaks are more valuable the more people earn, and the bigger their mortgage. But savvy homeowners will find that these tax breaks mean owning costs them less, often a lot less, than renting.
4. This time it’s personal! That new home is a design showcase.
Get in early enough on a new home and home shoppers can have the kitchen and bathrooms they really want. Homeowners can upgrade to their hearts content. They can get the flooring, window treatments, and upgraded appliances they have dreamed about. New home ownership also allows homeowners to add these items to their monthly mortgage payments at a cost that adds only a bit more to their monthly mortgage payments. Black Friday shoppers should try this instead of maxing out their credit cards at 22% interest rates. Consider that fact when in the check out line that this purchase won’t will be paid back for many years to come. Hmmm, maybe buying a new home instead does make more sense?
5. Home shoppers get a better home. Much Better!
Renting a place gives people a place to rest their heads and a space to park their belongings, but generally speaking, if they want the best home in the best neighborhood, most people are better off buying a new home. Plus new homeowners get that great new home smell!
6. It offers some inflation protection.
Black Fridays come and go but studies by Professor Karl “Chip” Case (of Case-Shiller), and others, suggest that over the long-term housing has tended to beat inflation by a couple of percentage points a year. That’s valuable inflation insurance, especially if raising a young family and thinking about the next 30 or 40 years. The rule of thumb is if anyone that plans on living in a place for 5 years or more, they may be better off buying than renting. If someone is planning on moving every few years they may want to re-think that strategy and lock-in home ownership while it is still affordable and within reach.
7. It’s risk capital. That is comfort now, equity later.
No, a home isn’t the stock market and no one should view it as the way to get rich. Thats what got people into the mess we see on the news. But current indicators suggest that the economy may surprise us all and start booming, sooner or later real estate prices will head up again, too. Long after the Black Friday sale items are forgotten in the back of a closet, your new home will have gained equity. One lesson from the last few years is that stocks are incredibly hard for most normal people to own in large quantities–for practical as well as psychological reasons. Equity in a home is another way of linking part of a portfolio to the long-term growth of the economy–if it happens–and still managing to sleep at night.
8. It’s forced savings. Pay yourself first!
Suppose one can rent an apartment for $2,000 month instead of buying one for $2,400 a month, renting may make sense. But will people save that $400 for their future? A lot of people won’t. People have to do the math, but need to remember that part of a mortgage payment that goes to principal repayment isn’t a cost. Homeowners are just paying themselves by building equity. As a forced monthly saving, it’s a good discipline.
9. There is a lot to choose from. 4 New home communities to be exact!
Olson Homes may be biased, but when it comes to home affordability, home shoppers should consider one of our great new Southern California new home communities. From the mid $300s Olson Homes has the best selling Citrus Walk in Covina visit Citruswalk.com, from the high $200s Olson Homes has 2 new home communities; the final phase of Rio Walk in Montebello visit RioWalkHomes.com, and the very last home at Heritage Walk in Paramount visit HeritageWalkParamount.com, and in Garden Grove from the low $300s there is the nearly sold out Mosaic Walk visit MosaicWalk.com. Any of these communities offer great locations and great value for new home shoppers.
10. Sooner or later, the market will clear. Be there when it does.
Demand and supply will meet. The population is forecast to grow by more than 100 million people over the next 40 years. That means maybe 40 million new households looking for homes. Meanwhile, today’s home shoppers will be so happy they bought a new home now, and be able to brag about how smart they were way back when people without vision let this once in a lifetime home ownership opportunity pass them by.
So there it is! 10 great reasons not to shop on Black Friday and buy a new home instead.
Paramount, CA (PRWEB) September 15, 2011 – Heritage Walk in Paramount announced today that they are releasing two affordable units priced below market value. The affordable pricing is being offered through City of Paramount’s Affordable Program. Heritage Walk is a new home community of 17 single family homes currently under construction in Paramount by The Olson Company. The community is being built to provide affordable and market rate, LEED Certified, Spanish architectural homes to the residents of Paramount. Heritage Walk offers homebuyers 3 bedrooms, 2.5 baths, attached 2-car garages, private rear yards, and square footage from1,302 s.f.
The affordable pricing is based on a below market rate sales price of $234,990. Income and other restrictions apply. Buyers must qualify for the Affordable Housing Program through the City of Paramount. Homebuyers can learn more about the program by visiting Heritage Walk. Sales Counselors at Heritage Walk have been busy assisting potential homeowners on how to apply for the program. Home shoppers are encouraged to apply in person or visit the heritagewalkparamount.com website for complete details. To get the monthly payment of $1,775*, Heritage Walk is using an interest rate of 4.250%, with an APR 5.105%, and requires a total down payment due at the close of escrow of $8,260. The $1,775 monthly payment Includes principle, interest, taxes, insurance, and HOA fees. Certain income restrictions apply.
Heritage Walk’s cozy tree-lined neighborhood captures the city’s small-town feel and appeals to a variety of lifestyles and families seeking the right mix of extra space and privacy. As a gateway to Los Angeles County, Heritage Walk is conveniently located near four major freeways, the Los Angeles International Airport, the ports of Long Beach and Los Angeles and provides easy access to both downtown Los Angeles and Orange County. The community is ideally located just minutes from the area’s most exciting restaurants, nightlife, shopping, recreation, and entertainment.
Heritage Walk’s new home prices start in the mid $200’s. Heritage Walk is located at 15542 Orange Street, Paramount, CA 90723. To learn more about Heritage Walk visit HeritageWalkParamount.com
About The Olson Company – Founded in 1988, The Olson Company is California’s leading developer of innovative and affordable in-town communities in established neighborhoods. The Olson Company creates uniquely designed communities which redevelop and enhance neighborhoods utilizing transit-oriented developments, live/work, mixed use developments, brownstones, single family attached and detached homes in partnerships with cities and other agencies.
Headquartered in Southern California with communities throughout the state, Olson is a recipient of America’s “Builder of the Year.” Further information about Olson Homes can be obtained online at OlsonHomes.com.
COVINA, CA. – July 28, 2011 – The Olson Company, the leading developer of in-town urban living, announces the debut of two communities within a 20 minute commute to downtown Los Angeles. Citrus Walk, located in the heart of downtown Covina and within walking distance to shops, restaurants, and MetroLink, and Rio Walk in Montebello just 8 miles from LA Civic Center. Both communities offer LEED Certified homes that are innovatively designed to fit active, urban lifestyles.
Citrus Walk is The Olson Company’s fifth new urban living residential development in the Covina area. The Citrus Walk community will offer 37 townhomes and 8,000 square feet of new retail space along downtown Covina’s Citrus Avenue, with 12 flats over the new retail storefronts. The townhomes, each with approximately 1,580 square feet and three stories, will have 2-3 bedrooms, 2 baths and 1-2 powder rooms, and 2-car garages. Metrolink’s Express service from the Covina station is a fast pass to downtown LA and just a short walk from Citrus Walk’s front door.
With prices starting in the high $290,000’s, Rio Walk is an exceptional value and highly desirable option for prospective homebuyers looking to live in the heart of Los Angeles County close to employment centers, retail, dining, transportation, recreation and entertainment.
Rio Walk is located in historic Montebello and just 8 miles from downtown Los Angeles and the newly opened L.A. Live Entertainment Complex adjacent at Staples Center. Montebello’s neighborhood community features rolling hills, bike baths and much more while providing quick access to the newly created downtown Los Angeles entertainment district, giving many young homebuyers the option of having the best of both worlds close at hand. Combine this great location, affordable pricing, and under 20 minute commute to LA; the choice for selecting a new home becomes clear to understand.
The homes, built to exceed LEED green living standards, feature energy efficient amenities including Energy Star appliances; water efficient and lead-free faucets; highly water efficient toilets; auto shut-off motion sensors in all baths, space saving tank-less water heaters, and built-in recycle bins, among many other features.
“The Citrus Walk community represents the culmination of years of work with the City of Covina to create a new brand of ‘walkable’ community within Covina’s downtown, offering the best of an in-town lifestyle,” said Steve Olson, Chairman/CEO of The Olson Company. “Located close to shops, restaurants, and MetroLink’s new San Bernardino Express line, Citrus Walk embraces and caters to active lifestyles.”
The Olson Company’s numerous successful urban living developments across Southern California over the last 22 years reflect its commitment to the homebuyer as top priority. With its notable homeowner satisfaction, The Olson Company has garnered prestigious Eliant Awards in six categories in 2010, including a number one ranking for the “Design Selection” experience, and second for delivering an incredible experience during the Purchase, Construction, and Customer Service phases, and ranked second for “Overall Quality” and “Sales from Referrals.” The Olson Company believes in “livability,” and implements a thoughtful and detail-oriented approach from concept through execution. As part of their unique approach to providing these communities, The Olson Company understands all that goes into buying a new home and provides tailored services to support the needs of homebuyers, such as financial education and continued support services.
The Citrus Walk sales center is located at 158 Clementine Court Covina, CA 91723. To learn more about Citrus Walk please visit CitrusWalk.com.
The Rio Walk sales center is located 945 S. Bluff Road Montebello, CA 90640. To learn more about Rio Walk please visit riowalkhomes.com.
LEED Certified Townhomes and Flats Now Open for Tours; Grand Opening Event June 25
COVINA, CA. – June 16, 2011 – The Olson Company, the leading developer of in-town urban living, announces the debut of two model homes in its newest residential community, Citrus Walk. Located in the heart of downtown Covina and within walking distance to shops, restaurants, and MetroLink, Citrus Walk will offer affordable, LEED Certified homes that are innovatively designed to fit active, urban lifestyles.
Olson Homes will host its “Rockin’ Grand Opening” event to offer potential residents the opportunity to tour the model homes and experience the Covina community on Saturday, June 25, from 11am to 3pm.
Up and coming local bands will entertain the crowd, including a featured performance by 7Lions, the popular fusion hip-hop, alternative rock, and electronica band. Taco Bell, as well as local eateries Red Devil Pizza, 3 Vino’s, Chad Max, Claro’s Italian Market, Sweet and Savory Café & Bakery, and Casa Moreno will all provide food for the crowd, and there will be exciting carnival games for guests to enjoy.
Citrus Walk is Olson Homes fifth new urban living residential development in the Covina area. The Citrus Walk community will offer 37 townhomes and 8,000 square feet of new retail space along downtown Covina’s Citrus Avenue, with 12 flats over the new retail storefronts. The townhomes, each with approximately 1,580 square feet and three stories, will have 2-3 bedrooms, 2 baths and 1-2 powder rooms, and 2-car garages.
The homes, built to exceed LEED green living standards, feature energy efficient amenities including Energy Star appliances; water efficient and lead-free faucets; highly water efficient toilets; auto shut-off motion sensors in all baths, space saving tank-less water heaters, and built-in recycle bins, among many other features.
“The Citrus Walk community represents the culmination of years of work with the City of Covina to create a new brand of ‘walkable’ community within Covina’s downtown, offering the best of an in-town lifestyle,” said Steve Olson, Chairman/CEO of The Olson Company. “Located close to shops, restaurants, and MetroLink’s new San Bernardino Express line, Citrus Walk embraces and caters to active lifestyles.”
The Olson Company’s numerous successful urban living developments across Southern California over the last 22 years reflect its commitment to the homebuyer as top priority. With its notable homeowner satisfaction, The Olson Company has garnered prestigious Eliant Awards in six categories in 2010, including a number one ranking for the “Design Selection” experience, and second for delivering an incredible experience during the Purchase, Construction, and Customer Service phases, and ranked second for “Overall Quality” and “Sales from Referrals.” The Olson Company believes in “livability,” and implements a thoughtful and detail-oriented approach from concept through execution. As part of their unique approach to providing these communities, The Olson Company understands all that goes into buying a new home and provides tailored services to support the needs of homebuyers, such as financial education and continued support services.
The Citrus Walk sales center is located at 137 E. Italia Street, Covina, CA 91723. To learn more about Citrus Walk please visit CitrusWalk.com.
About The Olson Company
Established in 1988, The Olson Company and the Olson Homes brand are nationally recognized for creating unique in-town neighborhoods in urban communities throughout California. Headquartered in Seal Beach, California, The Olson Company has successfully partnered with governmental agencies and private landowners to create innovative housing solutions designed to fulfill the lifestyle needs of today’s buyer. The company works diligently with community and neighborhood groups to build a high level of awareness and broad-range community consensus around its neighborhoods. The Olson Company was awarded the prestigious “Builder of the Year” award by Professional Builder Magazine and the National Association of Home Builders.
Contributed by: Christopher Callard, Paramount Journal
PARAMOUNT, CA. June 2, 2011—When the City of Paramount purchased and demolished a number of rundown and blighted properties across Orange Ave. from Zamboni School, it went looking for a partner to develop a quality neighborhood of single-family, detached homes on the cleared site.
It was very important to the City that the houses be constructed with the highest quality and best craftsmanship, but also be affordable enough to keep the dream of homeownership within reach of the community’s particular demographics.
Paramount found its ideal collaborator in Olson Homes, a local developer that has specialized in creating innovative and affordable in-town communities in established neighborhoods for over 20 years. The company – recipient of America’s “Builder of the Year” Award – is creating Heritage Walk, the first development of its size and scope in Paramount since the mid-1990s.
“Our company was founded specifically to assist cities in solving the critical shortage of affordable housing in urban areas,” said Scott Laurie, Olson Homes’ President and COO. “Working with the officials in Paramount has been extremely smooth and productive. Everybody has been on the same page from day one, wanting to improve the housing stock with a superior project. It’s very exciting, and Heritage Walk will be a jewel for that part of the city.”
The grand opening for the model home at was held May 14. Not only did hundreds of community members come out to take a tour and enjoy the festive Country Fair theme with food, games and other fun events, but four of the soon-to-be-built homes were sold on the spot.
“The City of Paramount has done a tremendous amount of work and planning over the years to highlight its finest qualities, qualities that are the
epitome of small-town America,” noted Vice President of Forward Planning Allison Kunz Olson. “Heritage Walk, with its 17 homes and tree-lined streets, echoes this feeling and will appeal to a variety of lifestyles and families seeking the right mix of extra space and privacy.”
The homes will be LEED Certified (Leadership in Energy and Environmental Design, an internationally-recognized “green” building certification system). With Spanish-styled architecture, they will offer 3 bedrooms, 2.5 baths, attached 2-car garages, private rear yards and 1,302 square feet of living space.
“Olson Homes’ uniquely designed communities have been a bright spot in the housing market over the last few years,” said Joe Perez, Community Development Director with the City. “The idea of helping cities revitalize themselves with creativity and thoughtful solutions, while making home ownership attainable for a wide number of people, has led to our projects being very successful. Heritage Walk in Paramount is a perfect realization of this goal.
“Everyone in the community is encouraged to visit the site,” Perez continued. “As we like to say, Heritage Walk is where life is ‘paramount.’
And everyone is welcome.”
Visit HeritageWalkParamount.com to see and learn more.
Seal Beach, CA (Vocus/PRWEB) April 13, 2011 – It happens this time every year. Thousands of landlords across the southland send notification to their tenants that an increase of up to 10% will be added to their current monthly payment for rent. While a common reaction will be to just bite the bullet and renew at the higher payment, many smart homebuyers are weighing the option of making a home purchase instead. For those individuals, Olson Homes is offering 6 new home communities with payments comparable to what the landlord wants for rent. Michelle Johnson VP of Sales and Marketing for the Olson Company points out “With landlords raising rents again, many renters are considering home ownership as a way to control costs”
“But looking for a great loan just got a bit harder” said Michelle Johnson remarking on the recent FHA move. “One of the best loan programs out there today is from FHA, which allows buyers to purchase a home with only 3.5% down combined with flexible guidelines. However, with two critical FHA guidelines about to change, securing these loans will become increasingly difficult. Financial institutions are urging homebuyers who plan to take advantage of FHA financing to lock in their purchases now before the changes take effect later this month. This is why Olson Homes is trying to educate buyers on the value of home ownership over renting.” Michelle also points out that Olson Homes understands what today’s young buyer is looking for and builds communities based on today’s lifestyle values.
Adding to the challenge is a second change the FHA will be rolling out this month. “The FHA is severely limiting the number of loans they will allow in a condominium community to only 30%, which means the FHA is anticipating that they will be running out of loans before the summer even begins” says Ruby Johnson, VP of DRE/Escrow for Olson Homes. “With only a finite number of cases available many home shoppers will have to go with higher cost conventional financing. When the money runs out, most buyers will need to put 10%-20% down for conventional financing.” In this economy, that may put potential homeowners out of the market and right back into the rental market. The choices are either pay the rent increase or move again in search of an affordable alternative.
Many worry that with interest rates set to rise, with that in mind, they are moving forward with a home purchase now rather than wait. This way they are locking in an interest rate below 5%, making their monthly payments comparable to what they were paying in rent.
With 6 great new home communities located throughout Southern California, Olson Homes has a new home community perfect for young urban lifestyles designed to help kick the rental habit.
Olson Homes is currently helping new homebuyers fire their landlords with the following communities: Mosaic Walk in Garden Grove, from the low $300,000′s, Rio Walk in Montebello, California priced from the 290,000′s, Willow Walk in Compton, California priced from the mid $200,000′s, Sycamore Walk in Garden Grove, California priced from the mid $400,000’s, Citrus Walk in Covina, California now forming an interest list with new townhomes and flats from the mid $300,000′s, and Heritage Walk in Paramount, California offering new single family detached homes from the high $200,000′s.
To learn more about these Olson Homes communities, visit OlsonHomes.com/smartbuy.
The wait is over for Heritage Walk in Paramount! The sales office officially opens its doors this Saturday March 19th. If you have driven by our latest new home community Heritage Walk in Paramount lately, you probably witnessed a flurry of activity as preparations for our sales office opening comes to a crescendo. Starting MARCH 19th at 10AM homebuyers can get a first look at this quaint community of just 17 single family homes.
It pays to be early! So far more than 300 people have registered on our interest list. With only 17 homes in all, only a few lucky ones will be able to call Heritage Walk home. Will you be one of them?
Don’t delay, visit Heritage Walk on Saturday! Visit HERITAGE WALK PARAMOUNT
SAN CLEMENTE, CA – Many home builders are finding that the best way to stimulate sales is to create referrals from delighted customers. The building industry’s “new breed” has learned to deliver an extraordinary purchase and ownership experience to their customers, thereby generating up to 35-40% of their sales from referrals, according to Robert Mirman, founder and Chief Executive Officer of Eliant, a ‘customer experience management’ company that has been surveying buyers of new homes for 27 years.
In partnership with Newport Beach, CA-based Real Estate Temps, Eliant has announced the results of more than 55,000 surveys which were administered in 2010 to all recent home owners from over 190 major homebuilders across the nation.
The surveys were used to determine the winners of the 2011 Eliant Homebuyers’ Choice Awards in which 134 builders received a sufficient number of surveys to qualify for this 14th annual competition.
Mirman, whose firm was the first to systematically conduct nationwide surveys of new-home buyers in 1984, said that the survey results confirm the growing commitment of home builders to the delivery of an extraordinary customer experience.
“No one understands more about a home’s quality or the customer service experience than the people living in the new home,” Mirman said. “Based on our survey results, these recent homebuyers are increasingly pleased with the quality of their new homes and the level of service they received from the homebuilder’s representatives throughout the first year after move-in. In order to develop a competitive advantage in their markets, homebuilders are developing new ways to truly delight homebuyers so they become ‘customer advocates’ who actively promote their new neighborhood to their friends.”
The best-performing builders based on the survey results were announced on January 18 by Eliant. Although 41 different builders or divisions were identified as being the best in the industry, this year’s awards were dominated by Richmond American Homes (based in Denver, CO, with operations in 10 states; 16 awards); Pardee Homes (based in Los Angeles, CA, with divisions in two states; 8 awards); Rosewood Homes (Scottsdale, AZ; 6 awards), MBK Homes (Irvine, CA; 6 awards) and The Olson Company (Seal Beach, CA; 6 awards)
Mirman said each Eliant Homebuyers’ Choice Award category was divided into three volume-segments based on the size of the homebuilder: High Volume Builders, which included companies and builder divisions that sold more than 250 homes a year in 2010; Large Builders, which sold between 101 and 249 homes; and Medium Builders, which sold less than 100 homes.
Lynda Lane, CEO of Real Estate Temps and a long-term partner with Eliant on this award program, said: “We were pleased to note that the scores of this year’s winners are even higher than last year, confirming that home builders are not just promising a wonderful home buying experience, they are delivering on this promise. Moreover, these surveys show the size of the builder and its status as a public or private company has little to do with the successful execution of that commitment.”
Mirman added: “In fact, one of our shining stars again this year is Rosewood Homes, a medium-size privately owned builder headquartered in Scottsdale, AZ. Rosewood Homes ranked number one in five of our seven categories in its volume- segment, a tremendous accomplishment regardless of size. Rosewood Homes is the undisputed leader in the delivery of an extraordinary customer experience.”
For the second year in a row, Rosewood Homes is this year’s recipient of the “The Eliant”, the “Best Overall Customer Experience” award for single division builders.
The other recipient of “The Eliant” for “Best Overall Customer Experience” in the multi-divisional builder segment was MBK Homes (Irvine, CA). While this is the second consecutive year in which MBK has won this top award, this firm has developed legendary status based on its high ratings on Eliant’s surveys during the last 15 years. Of all multi-divisional builders, MBK Homes was ranked by homebuyers as delivering the highest rated “Purchase Experience.” MBK also received second place awards for “Home Quality” and the “Customer Service” experience.
Of all multi-divisional builders, one of the clear customer-favorites was highly rated Denver, CO-based Richmond American Homes. Three of its divisions (California, Phoenix, and Nevada) were ranked number one in several key categories, and the company won 16 of the 63 total awards. Mirman pointed out that “With five of Richmond American’s divisions winning awards and another three divisions receiving ‘Honorable Mentions,’ this firm has demonstrated an uncommon level of consistency in delivering outstanding customer experiences across many regions and differing buyer segments.”
Pardee Homes (Los Angeles, CA) earned its way into the top echelons of the industry with eight awards being captured by its divisions in Las Vegas, San Diego, and the Inland Empire. The Las Vegas division won four awards in the High-Volume segment, including the number one customer satisfaction rating for its nationally acclaimed “Customer Service” program. Pardee Homes’ San Diego division was ranked number one in the all-important category of “Percent of Sales from Referrals”, with 36% of its sales coming from home owner referrals and local word-of-mouth.
The Olson Company (Seal Beach, CA) garnered awards in six categories, including a number one ranking for the “Design Selection” experience. Within its segment, the firm also ranked second or third for delivering an incredible experience during the Purchase, Construction, and Customer Service phases, and ranked second for “Overall Quality” and “Sales from Referrals.”
“We are honored to have received 6 Eliant Awards for 2010 as this is a testament to the dedication of The Olson Homes team and the commitment to our home buyers,” said Scott Laurie, President/COO of The Olson Company.”
Other builders with strong customer satisfaction ratings were William Lyon Homes (Newport Beach, CA; four awards) and Greth Homes (Reading, PA; three awards).
Explaining the value of an award based on the customer experience, Mirman said “In essence, each survey represents a direct vote that the homebuyer gives to their builder. These award winners are not being selected by a panel of industry judges, but have been identified by their customers…the ultimate judges. The builders who ranked high in this survey have every right to be extremely proud of this achievement.”
