The New Home Company Inc. (NYSE: NWHM) today announced selected preliminary results for the 2020 third quarter. These estimated results are preliminary and unaudited.
Preliminary 2020 Third Quarter Financial Highlights (Estimated Results)
Net new orders of 251 as compared to 124 in the 2019 third quarter, a 102% increase
Monthly sales absorption of 3.5 per community as compared to 2.0 per community in the 2019 third quarter, a 75% increase
September net new orders of 99, a 106% increase compared to September 2019
Homes in backlog of 329 homes, representing $207.1 million in backlog value, as compared to 207 homes at the end of the 2019 third quarter, a 59% increase
Ending actively selling community count of 25, a 14% increase compared to the end of the 2019 third quarter
Homes sales revenue of $117.4 million as compared to $118.8 million for the 2019 third quarter
Deliveries of 157 as
TULSA, Okla. — Unemployment in Oklahoma decreases each week, but about 80,000 people are still without a job.
2 Works for You is highlighting a company that started small 42 years ago doing siding and windows. Now, as demand grew due to the coronavirus pandemic, business is booming.
Burnett Home Improvement said they used to make a few hundred thousand dollars a year, but hit company records this summer. Last month, they made nearly $700,000. They said the increase is because people are at home, restless, with no places to vacation.
So they’ve seen people spending extra funds on remodeling their home.
Vice President Shawn Donahue has been with the company for almost two years and wants to encourage people to apply. Their faith-based company prides itself on treatment and fairness.
Burnett Home Improvement employee Vasilik Napelenok said, “Most of the people are Christian here, so I think that’s really
Ruth Haller was on her hands and knees, crawling as she pulled the heavy-duty construction material up from the floor of the home she is remodeling in Barrio Logan.
“As you can see, it’s not glamorous,” she said of the work.
The teacher-turned-renovator now runs a home-remodeling company called Girls with Power Tools with her friend, Pamela Macias.
The pair have been working on the South 26th Street home for more than a month. They plan to finish next week and place the 1930s Craftsman up for sale.
The work is not all for profit.
The Girls with Power Tools proprietors plan to use 10 percent of the proceeds from the sale of the home to purchase laptop computers for students in the neighborhood or in other parts of San Diego. They are also considering purchasing wireless internet cards for needy families.
Haller will dedicate another 10 percent to Guitars
Mr. Cabinet Care, a family-owned and operated kitchen and bathroom renovation company, was recently announced the Orange County Register’s “Best Kitchen & Bath Company” for 2020.
Oct 2, 2020 – Anaheim, CA – Mr. Cabinet Care, a family-owned and operated kitchen and bathroom renovation company, was recently announced the Orange County Register’s “Best Kitchen & Bath Company” for 2020.
The annual Best of Orange County readers’ choice award celebrates the area’s most popular attractions, restaurants, and businesses. The Orange County Register asks readers to cast votes for their favorite local businesses who continuously excel in service and quality. A 14-time winner, Mr. Cabinet Care was again named the winner and voted #1 in the “Best Kitchen & Bath Company” category at the 27th Best of Orange County Awards, which reaffirms its commitment to local clients and acknowledges its leadership and exceptional quality and service.
“We want to thank all of
Nearly two years ago, Ocwen acquired PHH Corporation, and Glen Messina became the president and CEO of the newly combined companies. Today, Ocwen Financial Corporation is a leading non-bank mortgage servicer and originator providing solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage. HousingWire spoke with Messina on the progress that’s been made in reshaping the mortgage servicer and originator, its evolving business model and its progress in turning around the company.
HousingWire: How does the Ocwen of today compare to the companies that merged two years ago?
Glen Messina: The Ocwen of today is a different organization, and I believe we are stronger, more efficient and more diversified. We’ve transformed the business to be both a lender and servicer, and our originations business is growing at a very fast clip to keep up with demand.
In servicing, we are one of the largest and most experienced special
MT. JULIET, Tenn. (WKRN) — Metro police have arrested the owner of a Mt. Juliet roofing company accused of scamming a Nashville homeowner out of nearly $1,200.
James Kenton, the owner of Tennessee Metal Roofing, was booked into the Metro jail Saturday on a felony charge of home improvement fraud.
According to an arrest warrant, a company employee completed an estimate for a new roof on a Nashville residence in late April. The representative quoted the homeowner $11,990 for the new roof, so he paid a $1,190 deposit and signed a contract, the paperwork states.
Following an inspection of the homeowner’s current roof, the resident told police he was informed by the company that his contract was no longer valid and a new contract would need to be completed with a “significantly higher” price. The homeowner said he refused to sign the new contract and requested a refund, but he
STEVENS POINT – Meijer won’t open next year in Stevens Point, but the company still plans to build a new store eventually.
Meijer purchased 28 acres of land in 2017 on the northeast corner of Portage County R and HH, near the shopping plaza that is home to Walmart Supercenter, Kohl’s and Lowe’s Home Improvement. According to city documents filed in 2019, the company was in its planning stages and started applying for sign permits. Documents at that time indicated the store would likely open in 2021.
Frank Guglielmi, the senior director of corporate communications for Meijer, told a Stevens Point Journal reporter the company still owns the land and plans to eventually build a store. Guglielmi said the company’s building schedule can be fluid, and it has no timeline yet for construction or opening. Meijer is currently focused on construction for its 2021 stores, he said.
Compiling a targeting strategy for a home remodeling company requires dividing the potential market into segments based on commonalities, selecting the segments with the best sales prospects and devising the most appropriate product and methods with which to approach each target segment. Statistics from market research organizations can provide you with the number of people who fall into each of the categories you identify.
Segmenting the Market
Segmentation involves identifying the group or groups of prospective customers that are most likely to need home remodeling services. This enables you to create a targeted, strategic marketing program. Visualize your company’s ideal customer, based on identifying demographic factors such as age group, income, marital status and home ownership. For example, students renting their first studio apartment are unlikely to need home remodeling, so segmentation should eliminate them as a group. Break the larger segments up into subsets based on specific needs.