TAYLOR MORRISON MOVING FORWARD, POSITIONING ITSELF FOR LONG TERM;
- Home Builder Reduced Home Inventory by 29 Percent in Second Half of 2007;
Sarasota Division Posted 153 Percent Sales Increase Over 1Q07 -
SARASOTA, FL – North American home builder Taylor Morrison reported today a 29 percent reduction in its speculative home inventory over the final six months of 2007. The announcement came as part of the home builder’s parent company Taylor Wimpey’s full-year results announcement. The reduction came as the Top 15 home builder successfully and significantly reduced costs following its July 2007 merger of Taylor Woodrow and Morrison Homes, strengthening the company’s current position through the streamlining of its corporate structure, the active adjustment of its local market pricing and the renegotiation of its option contracts, primarily in Florida, Texas and California, according to Sheryl Palmer, Taylor Morrison’s president and chief executive officer.
The Sarasota Division--an area encompassing six communities from Parrish to Sarasota--has posted significant year-over-year increases according to Jeff Cooper, the Division’s Vice President of Sales & Marketing. In the first quarter of 2008, Taylor Morrison sales have increased by 153 percent over 2007, he reports.
While some builders are pulling back, buyer demand has led Taylor Morrison to release additional town home buildings at Bradford Manor in North Sarasota as well as more luxury coach home buildings and single-family homes in Palma Sola Trace, three miles from Anna Maria Island, Cooper says. He attributes the increased interest to a number of factors including highly amenitized desirable locations, favorable pricing and interest rates and a broad selection of quality home designs. In the 2008 Parade of Homes, for example, judges chose two homes as "Best Overall" in their price categories: the Scarborough model at Aberdeen in Parrish, which was also honored for Best Master Suite, Floor Plan and Architectural Detail; and the Avalon at Bradford Manor, which took additional awards for Best Curb Appeal, Best Kitchen, Best Master Suite, Best Floor Plan and Best Architectural Detail. Other Parade Awards went to the Dumont at Palma Sola Trace for Best Curb Appeal and Floor Plan and the Siena in The Founders Club for Best Master Suite.
Cooper also credits the company's success in part to the high rate of customer satisfaction among its home owners. Rob Shiver, Vice President of Construction, says, “Our division placed in the top 5% in the nation for customer satisfaction among Taylor Morrison buyers in 2007.” He cites positive responses from buyers when asked if they would recommend the builder to another person, as well as the buyers' overall satisfaction with sales, mortgages, construction and the warranty process.
"The primary reason for Taylor Morrison’s success had been our focus and dedication on our family of customers and our family of employees,” Shiver says. “This core philosophy starts with our CEO and is carried through all of our divisions.
To learn more about Taylor Morrison in the Sarasota and Bradenton Area, call 941- 371-3008, visit taylormorrison.com or write to info@taylormorrison.com.
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Taylor Morrison, Inc., is one of the top homebuilders in North America, building a wide range of product for discerning homebuyers across the country. With more than 280 communities in Arizona, California, Colorado, Florida, Nevada and Texas, Taylor Morrison, Inc., offers first-time, mid-market and mid-to-upscale housing in both master-planned communities and urban infill neighborhoods. The company also operates under the Monarch brand in Ontario, Canada, where it builds single-family homes and high-rise condominiums. Taylor Morrison, Inc., is a wholly owned subsidiary of Taylor Wimpey plc (LON: TW), a homebuilding company with 125 years of experience and operations in the United Kingdom, North America, Spain and Gibraltar. For more information visit www.taylormorrison.com.
Taylor Morrison is building homes on Florida’s Gulf Coast at prices ranging from $150K to over $1 million. In Southwest Florida, the builder currently offers homes in Parrish (Aberdeen, River Plantation); Palmetto (Crystal Lakes,); Bradenton (Palma Sola Trace) and Sarasota (Bradford Manor, The Founders Club).
