|12/12/2012 – PRE-PRESS RELEASE TO SALT LAKE HOME BUILDERS ASSOCIATION MEMBERS
Utah-based Woodside Homes is one of the nation’s largest private builders and one of the few that declared bankruptcy in 2008 that is still up and running (and doing better than ever)!
A quick scan of five major public home building company stock prices from October 2011 to October 2012 show that prices have tripled in most cases: Lennar went from $12.14 in October 2011 to $39.25 a year later; KB Homes from $5.02 to $17.30; Toll Bros from $13.16 to $35.99; Pulte from $3.29 to $18.30; and D.R. Horton from $8.03 to $22.32. Wow.
2. As home building starts to ramp up again, Woodside Homes is in a great position to discuss what they’re planning for 2013 and what lies ahead for the industry. What are the trends? Where are the hot spots? What about the new money in home building?
3. Like many home building companies in 2008, Woodside declared bankruptcy and had to restructure its entire operations, but unlike many (John Laing Homes for example), Woodside has emerged stronger than ever. There are few, if any home builders that have accomplished this; most are defunct or were sold. In less than three years since emerging from a complicated chapter 11 reorganization, Woodside is well positioned to capture the momentum of a recovering market. Several big name investors are looking for profitable, private home building companies like Woodside where they can put their money since real estate is looking like a good bet again. Woodside Homes President Joel Shine can discuss this in great detail.
HISTORY: Founded in 1977, restructured in 2010, and recapitalized in 2012, with the business objective to plan, develop, construct and market high-quality homes and communities.
DIVISIONS: Operating in five states with divisions in Phoenix AZ, Riverside, Fresno, and Sacramento CA, Las Vegas NV, San Antonio TX, and Salt Lake City UT. As one of America’s top private home builders, Woodside Homes has approximately 200 employees and has built over 28,000 new homes in Arizona, California, Florida, Maryland, Minnesota, Nevada, Texas, Utah and Virginia.
Total Lots: Approximately 4,500 in various development stages
CURRENT MARKET: Woodside now operates in Arizona, California, Nevada, Texas, and Utah. The company is outperforming the market in many of its communities, including Andalusia in Summerlin, NV; Countryside in Yuba County, CA; Bella Brisas in Sacramento, CA; Lindsay Park in Mesa, AZ; and Arrowood in San Antonio, TX.
Woodside’s Belvista community, located in Temecula, California, is the top-selling attached new home community in the Inland Empire. The community attracts first-time homebuyers and mature buyers looking for a maintenance-free lifestyle. Woodside has sold over 60 homes since the community opening in April, and prices have increased approximately five percent since opening.
In Utah, Woodside’s Foxboro community is one of the largest master planned communities in the state. Their redesign of the community tripled the sales pace and sparked a rejuvenation of the community.
We want to thank the Salt Lake Home Builders Assoc. for this announcement.