| Here is our retirement communities 2009 year in | | | | but the builders are increasingly adding energy saving |
| review. There is a saying, "when the going gets | | | | features, not wanting to get far behind in this |
| tough, the tough get going," and that is no truer than | | | | important area. |
| in the year 2009. It was a tough year for the home | | | | - Customer Service Improves Major surveys showed |
| builders, but the best are gearing up to compete, to | | | | companies improved their customer service in 2009. |
| improve their bottom lines and be ready for when | | | | It makes sense in this market. Every customer |
| the economy improves. Here are some highlights of | | | | counts and there is no room for bad customer |
| this roller-coaster year: | | | | service. Meeting home building deadlines improved |
| - The Economy The biggest change was, like | | | | substantially as well as communication with the |
| everything else, affected by the derailed economy, | | | | customer. The companies are also eager to add |
| and for retirement communities developers that | | | | more flexibility in their floor plans. This means more |
| means one major factor: prices were lowered at | | | | options, more features, and better service. |
| most communities and inventories of homes | | | | Communities were also holding seminars on how to |
| increased. Retirement communities had to remain | | | | sell your home and a wide variety of subjects helpful |
| competitive with home sales of foreclosures and | | | | to making a sale. |
| bankruptcies. This meant some really good deals | | | | - More incentives and Marketing If you didn't notice |
| existed, but financing was hard to get and existing | | | | the giveaways, free offers, and creative marketing, |
| homes hard to sell. The suddenness of the change in | | | | you weren't watching. With more inventory on the |
| the economy drove some companies to the edge of | | | | books, there were more incentives offered. |
| bankruptcy. Retirement community builders and | | | | - Internet marketing The internet has been slow |
| developers were taking a huge "hit." There were | | | | starting and we are still at the beginning of knowing |
| some major mergers, bankruptcies and cutbacks in | | | | how to best use it, but more communities have |
| the number of communities being built. Builders were | | | | websites, and with a seriousness of purpose they did |
| selling land they had been holding, not developing | | | | not have before. Most people will go first to the |
| more communities, and, overall, just watching their | | | | internet to do research. More communities need an |
| bottom line. Their goal being to come back stronger | | | | internet presence. |
| when the economy improved. Some industry | | | | This is the end of not only a year but a decade. This |
| improvement happened in the middle of the year | | | | decade has gone from one of fantastic momentum |
| attributed to the Homebuyers Tax Credit and | | | | for active adult communities to one of great |
| pent-up demand. The Tax Credit was extended and | | | | challenges to builders in 2009. The best communities |
| expanded through the early part of next year in | | | | are building on their experiences and improving which |
| order to help the industry. | | | | will eventually be good for the home building industry. |
| - Energy Even before the global warming crisis gained | | | | The future: We predict the improved customer |
| momentum at the end of the year, this became the | | | | service will remain strong for a long time. In 2009, we |
| year our communities entered the main stream with | | | | learned we must be continually wary of the solvency |
| more green building and home energy savings | | | | of the companies we buy from as much as how |
| features. Large brand names began to be involved | | | | much we love the community. In 2010, we should |
| and continued experimentation in this area. The | | | | ask more about the green features of the home. |
| companies felt that if you do not include green | | | | The best communities will continue to deliver on your |
| features you may no longer compete in this tough | | | | needs. |
| economy. The public demand still may be lukewarm, | | | | |