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These excerpts taken from the BZH 10-K filed Dec 2, 2008. Competition
The development and sale of residential properties is highly
competitive and fragmented, particularly in the current weak
housing environment. We compete for residential sales on the
basis of a number of interrelated factors, including location,
reputation, amenities, design, quality and price, with numerous
large and small homebuilders, including some homebuilders with
nationwide operations and greater financial resources
and/or lower
costs than us. We also compete for residential sales with
individual resales of existing homes (including a growing number
of foreclosed homes offered at substantially reduced prices),
available rental housing and, to a lesser extent, resales of
condominiums. In recent months, short sales (a transaction in
which the seller’s mortgage lender agrees to accept a
payoff of less than the balance due on the loan) and
foreclosures have become a sizable portion of the existing home
market.
We utilize our experience within our geographic markets and
breadth of product line to vary our regional product offerings
to reflect changing market conditions. We strive to respond to
market conditions and to capitalize on the opportunities for
advantageous land acquisitions in desirable locations. To
further strengthen our competitive position, we rely on quality
design, construction and service to provide customers with a
higher measure of home.
Competition The development and sale of residential properties is highly competitive and fragmented, particularly in the current weak housing environment. We compete for residential sales on the basis of a number of interrelated factors, including location, reputation, amenities, design, quality and price, with numerous large and small homebuilders, including some homebuilders with nationwide operations and greater financial resources and/or lower costs than us. We also compete for residential sales with individual resales of existing homes (including a growing number of foreclosed homes offered at substantially reduced prices), available rental housing and, to a lesser extent, resales of condominiums. In recent months, short sales (a transaction in which the seller’s mortgage lender agrees to accept a payoff of less than the balance due on the loan) and foreclosures have become a sizable portion of the existing home market. We utilize our experience within our geographic markets and breadth of product line to vary our regional product offerings to reflect changing market conditions. We strive to respond to market conditions and to capitalize on the opportunities for advantageous land acquisitions in desirable locations. To further strengthen our competitive position, we rely on quality design, construction and service to provide customers with a higher measure of home. | EXCERPTS ON THIS PAGE:
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