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Have You Heard?
"The trend that concerns me is the movement of new home mortgage finance away from fixed-rate into ARMs and 'interest-only' loans literally overnight. ARMs were 15% to 20% of the market until last December, when they suddenly shot up to 41%." - Ivy Zelman, Housing Stock Analyst, Credit Suisse First Boston |
How do the GIANTS stack up against each other? Which performance measures separate one group from another? Where do opportunities for improvement lie within each organization, within each group? Check out the data below from the 2004 GIANTS and see where your organization rates. Other pertinent facts about the 2004 GIANT 400:
* No. 58 MCZ Development (Chicago), up 139 places.
* No. 113 Young Homes LLC (Rancho Cucamonga, Calif.), up 168 places.
* No. 190 Wathen-Castanos Inc. (Fresno, Calif.), up 103 places.
* No. 197 Fluornoy Construction Co. LLC (Columbus, Ga.), up 156 places.
* No. 201 Probuilt Homes Inc. (Bakersfield, Calif.), up 115 places.
* No. 254 LeCesse Development Corp. (Winter Park, Fla.), up 130 places.
|
Unit Costs
(for 2003 activity) |
Total
GIANT 400 |
Masters of
the Universe (GIANTS #1-20) |
Rich and
Famous (GIANTS #21-125) |
Achievers
(GIANTS #126-275) |
Strivers
(GIANTS #276-400) |
|
Land/Entitlement/Financing Expenses
|
|||||
|
Raw Land
|
9.44%
|
9.02%
|
9.32%
|
9.64%
|
9.33%
|
|
Land Improvements
|
5.08%
|
1.50%
|
5.88%
|
5.57%
|
4.38%
|
|
Improved Lot Costs
|
5.83%
|
13.10%
|
6.23%
|
5.76%
|
4.76%
|
|
Fees (permits, impact)
|
2.16%
|
0.93%
|
2.38%
|
2.51%
|
1.72%
|
|
Financing Costs
|
2.54%
|
1.97%
|
2.78%
|
2.57%
|
2.42%
|
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Hard Costs
|
|||||
|
Materials
|
28.23%
|
26.25%
|
26.34%
|
28.00%
|
30.01%
|
|
Construction Labor
|
22.12%
|
20.77%
|
21.48%
|
21.75%
|
23.17%
|
|
Indirect
Construction Costs |
2.53%
|
0.45%
|
2.61%
|
2.34%
|
2.98%
|
|
Sales/Marketing Expenses
|
|||||
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Advertising
|
1.18%
|
1.17%
|
1.13%
|
1.08%
|
1.34%
|
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Marketing
|
1.15%
|
1.14%
|
1.33%
|
1.14%
|
1.04%
|
|
Model Merchandising
|
0.86%
|
0.75%
|
0.86%
|
0.84%
|
0.89%
|
|
Sales Commissions
|
2.93%
|
2.59%
|
2.49%
|
2.98%
|
3.20%
|
|
Overhead/Miscellaneous/Profit
|
|||||
|
Overhead Expense
|
5.46%
|
6.22%
|
4.84%
|
5.26%
|
6.03%
|
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Miscellaneous
|
0.66%
|
0.75%
|
1.06%
|
0.55%
|
0.53%
|
|
Profit
|
9.81%
|
13.39%
|
11.28%
|
10.01%
|
8.17%
|
|
Total
|
100.00%
|
100.00%
|
100.00%
|
100.00%
|
100.00%
|