Heads Above Water

To assure buyers that they're getting the best possible price and to create a reason to buy now, William Ryan lowered its prices across all of its communities and created a price protection program. If a buyer purchases a home now and there's a better deal on the base price and incentives when the buyer gets to 21 days before closing, the builder will give the buyer the better deal.

“There are no strings attached,” Dombrowski says. “When we adjusted prices, we went to our entire backlog and reduced their prices, as well. We felt it was the right thing to do. We talked to so many buyers and told them, ‘We're not setting the market, we're reacting to it.' We're trying to find a place where we can continue to make sales. There's no benefit to sitting on lots.”

The developer has been particularly impressed with how Los Angeles–based KB Home adapted its elevations to meet the architectural guidelines of the community—and how quickly the builder completed its five models, which were finished in just 60 days, on time to open in conjunction with the lake-naming ceremony.

FINISHING TOUCHES: KB Home met the challenge presented to it by developer Land-Mar Group to create elevations that would be unique to BridgeWater. A sophisticated color palette and beefed-up architectural detailing fit the bill nicely.

KB isn't a builder partner Doyle normally would have considered. KB is a national production builder that generally focuses on first-time buyers. LandMar brands itself as a country club community developer. But KB already had a contract in place from the previous landowner, Doyle says. “We looked at it pretty hard and said, ‘How can we be successful and still be true to our brand?' We went to KB and said, ‘The floor plans and the value inside are great. Can you step it up a notch on the elevation?' And they did. I was absolutely tickled when I saw it.”

Dean Luce, vice president of sales and marketing for KB Home's Orlando division, says the builder's success comes from listening to its customers through extensive surveying on a regular basis and using a colorist in the builder's architectural division to create a sophisticated color palette for the elevations. Each house has up to five complementary color tones on the front elevation. The stucco may be painted a lighter color on the top than at the bottom, with another color on the window bands, the porch or entryway, and the shutters.

“You'll see soffit-matched paint, wonderful overhangs, and elevations with a lot of contours to them,” Luce says. “It's very savvy. We really think it distinguishes us in the market.”

KB Home's 10 floor plans range from 1,900 to 3,200 square feet, with a base price of $228,000 to $286,000. Some of the floor plans are unique to BridgeWater and others have been successful in other communities with similar target markets. Buyers have ranged from first-time homeowners to empty-nesters, who respond to the open floor plans, ample storage, large master bedrooms and baths, and KB's extensive option program, which allows buyers to design the house around their lifestyle and stage of life.

“Our market survey told us what to do; we did it and it's going well,” Luce says.

All together, the combination of location, a great site plan that takes advantage of its lakes, various amenities, strong product, good pricing, and the inspiration of five exceptional women have helped BridgeWater maintain a steady sales pace without piling on incentives or slashing prices.

“We did aggressive pricing so builders could come in at an aggressive price,” Doyle notes. “When you're selling stuff for a little over $100 a square foot, that's pretty good. I don't know that you'll find a lot of projects in Florida doing 15 [sales] a month without [pitching], ‘Save $90,000.'”