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High-scoring LEED home completed in Miami Beach

BY HBSDEALER Staff

At a score of 120/89.5, the 2020 Alton home in Miami Beach, Fla., is reportedly the highest-scoring LEED home in the nation, according to CGI Windows & Doors.

The home, completed by developer Matthew Lahn of the Florida Green Home Design Group and architect Ari Sklar of Sklarchitecture, was recently awarded LEED Platinum status for its ambitious adherence to the LEED point checklist.

"When building a home like 2020 Alton, material selection is key," said Lahn. "Finding windows that achieve a maximum level of impact resistance while remaining super energy efficient and airtight is no easy task."

CGI Windows & Doors, which manufactured all doors and windows used in the project, contributed to the energy efficiency rating of the home.

"Our Estate Collection windows and doors were the perfect match for this fantastic project," said Steven E. Dawson, executive vice president, sales, for CGI Windows & Doors. "We’re proud to be a contributor to this historic LEED achievement. The wide range of our product that is included – casements, fixed windows, project-outs, French doors and sliding glass doors in clear anodized finish using insulated laminated Lo E 366 high-performance glass – illustrates clearly that not only are our windows beautiful and well-made, they are the best choice when it comes to energy efficiency."

The home measures 3,200 sq. ft. with an exposed masonry wall adding an additional buffer on the north and west sides of the home. It also has a HERS (Home Energy Rating System) Index of -8 and is Home Innovation Research Labs Green Certified at the highest level (Emerald), indicating energy savings of 60% or more. It is also Indor airPLUS certified and Florida Green Building Coalition (FGBC) Platinum certified.

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Lennar’s earnings up 38.4% in Q3

BY HBSDEALER Staff

Major national homebuilder Lennar Corporation reported revenues up 46% and earnings up 38.4% for the third quarter.

With total revenues at $1.60 billion for the quarter, growth was looking strong compared to 2012’s third quarter revenues of $1.09 billion.

Total net earnings for the third quarter attributable to Lennar Corporation were $120.7 million, up from year-ago figures of $87.1 million.

CEO Stuart Miller conceded that the company’s sales pace had moderated during the quarter, but cited a 14% increase in new home orders and a 16% increase in average sales price as a means toward increasing the dollar value of new home orders.

"We continue to see long-term fundamental demand in the market driven by the significant shortfall of new single-family and multi-family homes built over the last five years," said Miller. "While there may be bumps along the road that may impact the short-term pace of the recovery, the long-term outlook for our business remains extremely bright."

Miller was also optimistic about Lennar’s ancillary capital management business, Rialto, which has raised $640 million in capital.

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KB Home’s revenues up 29% in Q3

BY HBSDEALER Staff

KB Home reported growth in both revenue and income for the third quarter, with total revenue up 29% to $549 million, compared with a third-quarter 2012 reading of $424.5 million.

The average selling price of a home increased 22% to $299,100, year-over-year. This represents 13 consecutive quarters of year-ago gains.

Net income increased to $27.3 million, up drastically from year-ago figures of $3.3 million. When considering the nine-month period ended Aug. 31, net income went from a loss of $66.7 million in 2012 to a positive net of $11.8 million this year.

The company partially attributed the growth to its investment in land-constrained growth markets in higher-income areas.

"The fundamentals of the current housing recovery are firmly in place, supported by low inventory levels, an improving economy and positive demographic trends," said president and CEO Jeffrey Mezger. "Given these factors, we believe that the recent slower pace of the recovery caused by an uptick in mortgage interest rates is a temporary effect, and we expect to see steady upward demand for housing as consumers adjust to both higher rates and pricing. In balancing community count, sales pace and margin expansion in this environment, our revenues and net income improved substantially during the third quarter, while our net orders moderated. Nonetheless, we believe there is tremendous potential in our served markets and that we are well-positioned for future growth."

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