KHov.com Residential home building company.
Hovnanian Enterprises, Inc.
Founded in 1959, Hovnanian Enterprises, Inc. has two operating groups activating in homebuilding and financial services. The company’s main operations are held in the eastern and southern areas, where it develops home solutions under names such as K. Hovnanian, K. Hovnanian's Four Seasons, K. Hovnanian's Metroliving, K. Hovnanian's Build on Your Lot or Ours, Oster Homes, Forecast Homes, First Homebuilders of Florida, CraftBuilt Homes, Windward Homes, Parkside Builders, Brighton Homes and Town & Country Homes. The company takes pride in the leadership ensured by the Hovnanian family, now in its second generation, with Kevork Hovnanian as Founder and Chairman and Ara Hovnanian as President and CEO.
Homebuilding Services
The company designs, constructs, and sells a variety of housing in about 420 communities in 19 states, ranging from single-family detached homes and attached condominiums to high-rise condominium apartments. In several geographic regions, the company also builds homes on private land. Hovnanian builds more than 20,000 homes a year for active adults, move-up, first-time or luxury buyers. As of 2006, the base prices range between $42,000 and $2.1 million, averaging at about $329,000. Thanks to its $6.1 billion generated on home deliveries in 2006, the company entered the Fortune 500 and now ranks high among the largest homebuilders in the U.S.
Financial Services
The company’s K. Hovnanian American Mortgage unit offers clients mortgage financing as well as title services. As a seasoned mortgage lender, the company offers more than 200 loan programs to satisfy every homebuyer’s financial needs. Moreover, the majority of loan programs benefit from long term lock, reducing the uncertainty of changing interest rates. Striving to offer unparalleled value to their customers, K. Hovnanian American Mortgage does not charge fees for applications or credit reports.
Acquisitions
An essential component of the company has been its success in integrating new companies, a core Hovnanian strength. With 15 companies acquired by mid-2006, Hovnanian enhanced its geographic diversification and significantly expanded its scale. Although the company leverages the local brands and management expertise, it also works hard to introduce the corporate best practices in all business units. This way, quality and efficiency are characteristic of every region in which the company is active.
Operating Policies and Procedures
Hovnanian attempts to reduce the inherent risks in the industry by following a series of policies and procedures. The Training Department, for instance, regularly conducts trainings in sales, administration, construction, and managerial skills. Complete comparative analyses and studies are carried out in order to evaluate the economic feasibility of all land purchases, while diversity in home design is achieved through different textures, colors, and architecture. General contractors are employed to manage the construction of high-rise buildings, and costs are rigorously controlled through computer monitoring systems.
Strategy
Hovnanian’s strategy is to meet the needs of the American homebuyer by offering one of the most diversified product portfolios on the market. While the company’s active adult communities target the population aged 55 and over, the urban infill communities address consumers looking for the amenities and excitement of urban areas. By establishing a large presence in each area, Hovnanian achieves stable performance with higher margins. The profit sources are then further expanded through mortgage and title services provided to homebuyers.
Languages
English
Address
- 10 State Route 35
- Red Bank NJ 07701 US
Contact
- . Hovnanian Enterprises, Inc.
-
- +1 732 747 7800, Fax: +1 123 123 1234
Additional Information
Related Domains
External Links
- Stock: HOV
- Alexa: Khov.com
- WHOIS for Khov.com
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