Taylor Morrison Geared for Growth in Housing Market

July 28, 2011 - PRLog -- With local real estate news trending in a positive direction, Steve Kempton, president of Taylor Morrison West Florida, is looking forward to a stabilizing demand among new homebuyers and has been carefully laying the groundwork to capitalize on the growing market recovery including hiring people and buying land.

“We are seeing definite and significant improvement,” said Kempton. “Despite a continued softness in the national housing scene, we are still seeing a real movement of people who want to buy a new home and realize that now is the time to do it.”

Last year, the company reported 498 sold homes and 564 closings in a region stretching from Tampa to Naples. At the midpoint of 2011, sales projections put them on track to comfortably meet or exceed those numbers, including 262 net home sales year-to-date.

Instead of shutting its doors during difficult times, Taylor Morrison began planning for the future, making the strategic decisions that are paying off today and positioning the company for rapid growth in the months and years to come.

Under Kempton’s leadership, the company expanded its inventory of floor plans to offer customers greater flexibility in size, price and options, and included more entry-levels homes to improve cash flow. They also took a close look at the process by which they select communities to build in, determined to participate only in those communities that offer the very best in location and amenities.

During this metamorphic process, Taylor Morrison did two things that appear to directly contradict national trends, but perhaps are the most indicative of their current success. They hired people, and they bought land.

The company has been adding staff – now has over 65 employees in the division – and has stepped up its training program. “We have been fortunate to attract and retain some of the best people in the business – people who are well-educated, experienced, and willing to help each other and our customers through any challenge.” said Kempton.
Taylor Morrison has also been investing in land and will spend more than $20 million in land development this year alone. They currently control over 6,500 lots with little to no associated debt and expect to control 7,000 by year’s end.

“Having control and possession of our own land puts us in a very solid financial position,” Kempton said. “However, we tend to be very selective when it comes to the land we own. Our goal is create neighborhoods where people want to live, so we put a lot of effort and research into picking the best locations and being good environmental stewards of that land.”

Things are certainly busy at Taylor Morrison these days. The West Florida division is building in 24 active communities and making plans to add four new ones. One of the new communities will be the first active lifestyle community in Lakewood Ranch, Florida which will break ground in August.  

About Taylor Morrison
Taylor Morrison was named the No. 1 private homebuilder in the United States in 2010 and 2011 by Builder magazine and builds a wide range of product for discerning home buyers across the country. With more than 130 communities in Arizona, California, Colorado, Florida and Texas, Taylor Morrison offers first-time, mid-market and mid-to-upscale housing in both master-planned communities and urban infill neighborhoods. The company also operates one of Canada’s largest homebuilding companies, Monarch, in Ontario, Canada, where it builds single-family homes and high-rise condominiums in Toronto and Ottawa.  For more information about Taylor Morrison communities in West Florida contact 866-495-6006 or visit taylormorrison.com.

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