Though the economic crisis is now impacting nearly every segment of the housing industry, there are some builders around the country who are managing to find success through unique business strategies.
Building on market strength: Danville, Pa.-based Meridian Builders reports a strong market and increased demand for its services locally, with seven homes in progress as of early December 2008 and another four in its backlog. Meridian president Gray Montana attributes his company’s success to a strong local economy and employment stability provided by large companies in the area. Read the story.
Low overhead equals survival: Custom builder Jon Wall of Paradise Valley, Az.-based JM Wall Development has found success and managed to survive by running his office out of his home, retaining no employees, keeping pace with his clients’ expectations for reduced prices, and taking on any work that comes his way—big or small. Read the story.
Building homeowner trust and confidence: Gehman Custom Remodeling of Harleysville, Pa., publishes a monthly electronic newsletter chock-full of useful information for past and potential clients, establishing itself as an industry expert while keeping its name in front of homeowners’ eyes—viral marketing at its most effective. Read the story.
Adjusting to the market: Jacksonville, Fla.-based custom home builder J.L. Smith Construction has shifted its focus to remodeling jobs rather than new-home builds to accommodate the local market’s demands and stay competitive. Read the story.
Careful positioning in a healthy market: The Portland, Ore., market for urban infill housing—unlike suburban markets—is doing just fine, reports infill home builder Randall Palazzo of Palazzo Custom Homes. Demand for new homes in Portland’s core neighborhoods is healthy and strong. Palazzo sold 70 homes in 2008. The company has positioned itself advantageously to cater to a clientele that values an urban, transit-oriented lifestyle with well-priced, green-built, vintage reproduction single-family homes that blend seamlessly into old, established neighborhoods. A diverse marketing strategy that includes television advertising, a Facebook profile, and a series of YouTube videos spreads its message and brand. Palazzo also hopes to connect with potential clients through a Twitter page. “Everybody does a Google search these days,” Palazzo says. “I subscribe to the shotgun approach [to marketing]: Do everything you possibly can.” In other words, use a variety of marketing mediums to hit the widest target possible.
