David Weekley Homes has always been financially conservative. We don’t follow the crowd. We don’t take unnecessary risks. And, we never lose sight of who we are. Nearly 40 years of booms and busts have taught us that if you stick to what you know, you’ll not only survive tough times, you’ll emerge from them even stronger.
As a privately-held company, David Weekley Homes is not burdened by irrational pressure to deliver short-term profits at any cost. During the depths of the 1980s recession, many home builders were folding. We sustained some short-term losses but kept our eye on the horizon and persevered. Within a few short years, David Weekley Homes emerged stronger and with an even greater market share.
During the heady days of the real estate bubble, many home builders gambled by increasing their landholdings to unhealthy levels. We did not. Why? Because we have always remembered that we’re a home builder, not a land speculator. As land values have declined, we have not been affected to the degree of other builders.
Our conservative values have led to a significant equity build-up during a time when more aggressive builders have found themselves over-leveraged and under-capitalized. During the recent credit crunch, others are having difficulty obtaining loans while we’ve tapped less than half of our sizeable credit lines.
The real estate market is stabilizing. Thanks to minimal land exposure, sizable equity, vast credit resources and conservative business practices, we are happy to say that the future of David Weekley Homes is brighter than ever.