Ryland Homes Growth and Deveolopment
Ryland Homes was founded in 1967 by James P. Ryan. Ryland started out building 67 homes in its first year. During its first decade, Ryland built more than 10,000 homes and increased its earnings from $46,000 to $4.7 million. They have continued to grow into new markets in Florida, Arizona, the Carolinas, Colorado, Texas and California. Ryland Homes strategy focused on what homebuyers in individual markets wanted most. This consistent strategy helped Ryland marked its seventh consecutive year of record-setting performance in 2005.
The Ryland Group constructs its homebuilding business on a firm foundation -- expanding within its existing markets and targeting entry-level, first- and second-time move-up, and active retired-adult buyers. As a leading US homebuilder, Ryland built about 11,000 homes in 2006 that ranged in price from $98,000 to more than $800,000 (averaging $295,000). Subcontractors perform virtually all of the construction, which is monitored by Ryland supervisors. The group also provides mortgage-finance services, including title search, settlement, escrow, and homeowners insurance, through Ryland Mortgage.
In 2000 Ryland joined other major US homebuilders in an Internet-based marketing cooperative. The builder continued to surf the Net the next year as it invested $1 million in online sales company iBidCo, after using iBidCo's system to sell 14 California homes for a total of nearly $11 million.
Company chairman and CEO Dreier scored in 2002 with a new employment agreement, which gave him an annual base salary of $1 million through the year 2007. Ryland posted record revenue and closings results in 2003, a trend since 2000. Ryland opened 152 new communities (a 5% to 10% i ...