Viva Las MAME This year, family owned Van Metre Homes has more to celebrate than just its 50th year in business. The company vanquished the MAME Awards competition by pulling in 14 awards. Three Van Metre communities garnered the most attention. Stone Ridge, a master planned community in Loudoun County, Va., won six awards, while the Broadlands in Ashburn, Va., and the resort-style community Lansdowne in Leesburg, Va., each received two awards. The three communities also won an Award of Merit for best direct mail.
Beazer Homes came in second, receiving eight awards across various categories. Winchester Homes, a subsidiary of Weyerhaeuser Real Estate Company, and K. Hovnanian tied for third with seven awards each.
The awards honor those responsible for providing the best new home sales achievement and marketing efforts in the Washington, D.C., metropolitan area. The complete list of honorees is available at www.wmsmcmame.com
Spanish Success Taking the lead from builders such as KB Home and Beazer, Builder Homesite upped its Hispanic marketing effort through the creation of Casasnuevasaqui.com. The Web site gives Hispanic home buyers a searchable database—in Spanish—of new home listing from top builders. Since the site's launch at the end of 2004, Builder Homesite estimates that more than 1,500 new communities have been listed. The initative has proved strategic, the consortium's COO Melissa Morman said, noting traffic to the site has increased as well.
Welcome to the Club Following in the footsteps of Centex, KB Home, and Pulte Homes, Fort Worth, Texas-based D.R. Horton just earned itself a place on the Standard & Poor's 500. The home builder will replace Veritas Software Corp., which was acquired by Symantec Corp., also on the S&P 500. Macerich Co. will take D.R. Horton's spot in the S&P MidCap 400.
To be considered for the S&P 500, companies must be U.S. based, have a market cap of at least $4 billion, exhibit financial viability, have adequate liquidity and reasonable price, maintain a public float of at least 50 percent, demonstrate sector representation, and be in operation. UBS analyst Margaret Whelan says that based on these criteria, Lennar is the next builder she expects to be added to the S&P 500.
Hot Retirement Spots According to the 2005 Del Webb Baby Boomer survey, approximately half of responding boomers said they planned to move to another state to retire. Sixty-six percent of those expecting to move indicated that a better community lifestyle would draw them to a different location, while 54 percent would be lured by a warmer climate. Other issues such as affordability—no state income tax certainly appeals to many—and closeness to family also ranked high on the list of considerations for moving out of state for retirment. The most popular retirement destinations are as follows:
The full survey report is available at http://onlinepressroom.net/pulte/babyboomer.
What Will It Cost? A recently published paper from Harvard Law School professor and author Guhan Subramanian says there has been a drastic increase in the occurrence of “freeze-outs,” a transaction where a controlling shareholder buys out the minority shareholders, since the stock market downturn of 2000 and the Sarbanes-Oxley Act of 2002. And his research says it's costing plenty. The enigma at hand: How much more should a controlling interest pay to push out the minority? After studying 96 freeze-out transactions, Subramanian reports that the controlling shareholders closed their deals by upping their initial bids, on average, another 14 percent.
In Memory Gary Milgard, 69, co-founder, CEO, and chairman of the board of Milgard Manufacturing, died July 13 following a long struggle with illness. Milgard, a resident of Tacoma, Wash., and Palm Springs, Calif., is survived by his wife Carol Berry Milgard, son Mark, daughters Cari and Lori, and his brother, Jim.
Milgard founded Milgard Glass Co. in 1958 with his father, Maurice Milgard Jr. In 1962, Milgard established Milgard Manufacturing, a window fabricating company. The company grew into one of the largest window manufacturers in the United States, with more than 5,000 employees and a reputation for excellent customer service. Michigan-based Masco Corp. bought the window company in 2001.