Weyerhaeuser Real Estate Company Eighteenth Builder to Join Builder Homesite Consortium

Apr 02, 2001, 01:00 ET from Builder Homesite, Inc.

    AUSTIN, Texas, April 2 /PRNewswire/ -- Builder Homesite, Inc., the
 emerging builder-founded consortium for the new home market, today announced
 that Weyerhaeuser Real Estate Company, ranked 22 in the 2000 Builder 100, has
 signed up as the eighteenth consortium member.
     Builder Homesite is backed, endorsed and driven by a consortium of the
 nation's premier homebuilders and focused on improving the home selection,
 buying and ownership experience through the use of online technologies.  BHI
 products are being designed to provide consortium members with the benefits of
 new sources of revenue from an open, un-biased new home channel, reduced
 technology acquisition costs and the monetization of each builder's home and
 community assets.  The eighteen consortium members represent over $33 billion
 in gross revenue for 2000 and build over 155,000 homes across the continental
 United States.
     "Technology is changing homebuilding and homebuying," said C. Stephen
 Lewis, President and CEO of Weyerhaeuser Real Estate Company.  "At
 Weyerhaeuser Real Estate, we see the Internet as a powerful tool that will
 substantially improve the homebuying and homeownership experience.  We believe
 that all members will benefit from the activities of the consortium."
     "We are thrilled that Weyerhaeuser Real Estate, a top 25 builder, has
 joined the consortium," said Tim Costello, President and CEO of Builder
 HomeSite.  "We expect they will be an active participant in defining the
 future tools and products that will be required to complete the digitization
 of the entire new home lifecycle."
 
     New Home Industry
     Currently, the new home market is estimated to be a $230 billion market in
 the United States.  PaineWebber's eBuilder Report states that builders
 effectively using the Internet could see profits per-home improving by up to
 30% in the next ten years.  Consumer use of the Internet during the home
 selection process is increasing -- research studies show that 62% of all new
 homebuyers already use the web for sources of information and service.  Other
 research has revealed that over 85% of consumers will use or plan to use the
 Internet to shop for homes in the next two years.
 
     About Weyerhaeuser Real Estate Company
     Weyerhaeuser Real Estate Company (WRECO), was formed in 1969 as a wholly
 owned subsidiary of Weyerhaeuser Company.  Over the past 30 years it has grown
 to be one of the larger homebuilding companies in the United States.  WRECO's
 primary goal is to provide high-quality, moderate-to-medium-priced homes and
 planned communities while providing a competitive return to its shareholder,
 Weyerhaeuser Company.
     Weyerhaeuser Company (NYSE:   WY), one of the world's largest integrated
 forest products companies, was incorporated in 1900.  In 2000, sales were
 $16 billion.  It has offices or operations in 17 countries, with customers
 worldwide.  Weyerhaeuser is principally engaged in the growing and harvesting
 of timber; the manufacture, distribution and sale of forest products; and real
 estate construction, development and related activities."
 
     About Builder Homesite
     Founded in the spring of 2000, Builder Homesite is funded by the following
 top national builders: Beazer Homes USA, Inc. (NYSE:   BZH), Centex Corporation
 (NYSE:   CTX), D.R. Horton, Inc. (NYSE:   DHI), David Weekley Homes, Gateway
 Homes, Highland Homes, Hovnanian Enterprises, Inc., KB Home (NYSE:   KBH),
 Lennar Corporation (NYSE:   LEN), M.D.C. Holdings (NYSE:   MDC), Medallion Homes,
 Morrison Homes, Pulte Homes (NYSE:   PHM), Ryan Building Group, The Ryland
 Group, Inc. (NYSE:   RYL), Sivage Thomas Homes, Toll Brothers (NYSE:   TOL) and
 Weyerhaeuser Real Estate (NYSE:   WY).  Builder Homesite will serve the
 interests of new homebuilders by providing products, tools and services that
 make finding, owning and living in a new home easier, simpler and more
 convenient.  The company is headquartered in Austin, Texas.
 
      Editorial Contacts:
      Builder Homesite, Inc.             Weyerhaeuser Real Estate Company
      Mary Browning                      C. Stephen Lewis
      (512) 651-8812                     253 924 3034
      mbrowning@builderhomesite.com      steve.lewis@wrecol.com
 
 

SOURCE Builder Homesite, Inc.
    AUSTIN, Texas, April 2 /PRNewswire/ -- Builder Homesite, Inc., the
 emerging builder-founded consortium for the new home market, today announced
 that Weyerhaeuser Real Estate Company, ranked 22 in the 2000 Builder 100, has
 signed up as the eighteenth consortium member.
     Builder Homesite is backed, endorsed and driven by a consortium of the
 nation's premier homebuilders and focused on improving the home selection,
 buying and ownership experience through the use of online technologies.  BHI
 products are being designed to provide consortium members with the benefits of
 new sources of revenue from an open, un-biased new home channel, reduced
 technology acquisition costs and the monetization of each builder's home and
 community assets.  The eighteen consortium members represent over $33 billion
 in gross revenue for 2000 and build over 155,000 homes across the continental
 United States.
     "Technology is changing homebuilding and homebuying," said C. Stephen
 Lewis, President and CEO of Weyerhaeuser Real Estate Company.  "At
 Weyerhaeuser Real Estate, we see the Internet as a powerful tool that will
 substantially improve the homebuying and homeownership experience.  We believe
 that all members will benefit from the activities of the consortium."
     "We are thrilled that Weyerhaeuser Real Estate, a top 25 builder, has
 joined the consortium," said Tim Costello, President and CEO of Builder
 HomeSite.  "We expect they will be an active participant in defining the
 future tools and products that will be required to complete the digitization
 of the entire new home lifecycle."
 
     New Home Industry
     Currently, the new home market is estimated to be a $230 billion market in
 the United States.  PaineWebber's eBuilder Report states that builders
 effectively using the Internet could see profits per-home improving by up to
 30% in the next ten years.  Consumer use of the Internet during the home
 selection process is increasing -- research studies show that 62% of all new
 homebuyers already use the web for sources of information and service.  Other
 research has revealed that over 85% of consumers will use or plan to use the
 Internet to shop for homes in the next two years.
 
     About Weyerhaeuser Real Estate Company
     Weyerhaeuser Real Estate Company (WRECO), was formed in 1969 as a wholly
 owned subsidiary of Weyerhaeuser Company.  Over the past 30 years it has grown
 to be one of the larger homebuilding companies in the United States.  WRECO's
 primary goal is to provide high-quality, moderate-to-medium-priced homes and
 planned communities while providing a competitive return to its shareholder,
 Weyerhaeuser Company.
     Weyerhaeuser Company (NYSE:   WY), one of the world's largest integrated
 forest products companies, was incorporated in 1900.  In 2000, sales were
 $16 billion.  It has offices or operations in 17 countries, with customers
 worldwide.  Weyerhaeuser is principally engaged in the growing and harvesting
 of timber; the manufacture, distribution and sale of forest products; and real
 estate construction, development and related activities."
 
     About Builder Homesite
     Founded in the spring of 2000, Builder Homesite is funded by the following
 top national builders: Beazer Homes USA, Inc. (NYSE:   BZH), Centex Corporation
 (NYSE:   CTX), D.R. Horton, Inc. (NYSE:   DHI), David Weekley Homes, Gateway
 Homes, Highland Homes, Hovnanian Enterprises, Inc., KB Home (NYSE:   KBH),
 Lennar Corporation (NYSE:   LEN), M.D.C. Holdings (NYSE:   MDC), Medallion Homes,
 Morrison Homes, Pulte Homes (NYSE:   PHM), Ryan Building Group, The Ryland
 Group, Inc. (NYSE:   RYL), Sivage Thomas Homes, Toll Brothers (NYSE:   TOL) and
 Weyerhaeuser Real Estate (NYSE:   WY).  Builder Homesite will serve the
 interests of new homebuilders by providing products, tools and services that
 make finding, owning and living in a new home easier, simpler and more
 convenient.  The company is headquartered in Austin, Texas.
 
      Editorial Contacts:
      Builder Homesite, Inc.             Weyerhaeuser Real Estate Company
      Mary Browning                      C. Stephen Lewis
      (512) 651-8812                     253 924 3034
      mbrowning@builderhomesite.com      steve.lewis@wrecol.com
 
 SOURCE  Builder Homesite, Inc.

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