Dec. 6, 2007

Richardson Housing Group is Now Fourth Largest Gwinnett Builder

Now approaching its 35^th year in business, Lawrenceville-based residential builder & developer posts positive performance for third quarter

(LAWRENCEVILLE) – The latest sales data from the Metro Atlanta real estate market ranks Lawrenceville-based Richardson Housing Group as Gwinnett County's fourth largest residential builder, based on the number of homes closed during the third quarter of this year.

            According to SmartNumbers, Richardson Housing Group sold 40 homes during the third quarter of the year. Richardson now ranks 37 in market share among Metro Atlanta's 2,500 homebuilders.  SmartNumbers provides residential real estate information, analysis and forecasting for brokers, builder/developers, and mortgage and banking professionals.

            Richardson's positive performance comes amid continued difficulties in the mortgage market, with the resulting financial ripples and homebuyers' hesitation hitting some homebuilders hard.

            Just weeks away from marking its 35^th year in business, Richardson Housing Founder and President Allen Richardson has a positive message for home buyers.

            "We've built 3,000 homes in this market over more than three decades. Home buyers can count on us to be here for the long term," says Richardson. "Despite the current trends in the real estate and residential building marketing, we're having a solid year."

            Richardson attributes their success to several factors, the first relating to that old real estate adage – location, location, location. "Certainly, Gwinnett County is still a strong market and we've been very strategic about where we've chosen to develop our communities," he says.

            During the third quarter, Richardson Housing Group has opened neighborhoods in Grayson – Hollowstone – and just announced its newest development in Buford, called Castleberry Hills. RHG is also building Brookwood Village in Snellville, Haynescrest in Grayson, Oakland Downs and Wynterberry Park in Lawrenceville, Thorncrest in Tucker, and Overlook at Apalachee in Dacula.

            "We also put a tremendous focus on quality construction, excellent customer service and innovative, extremely livable floor plans and design elements," adds Richardson.

Just last month, Richardson Housing Group was awarded two OBIE Awards by the Sales and Marketing Council of the Greater Atlanta Home Builders Association – both for floor plan design. The company received a gold award for the Danielson floor plan at its Thorncrest community and a silver award for the Walker plan at the Wynterberry Parke neighborhood. This is the third consecutive year that Richardson Housing has won at least one gold award at the OBIEs.

            Building homes at an attractive price point for Gwinnett families, says Richardson, is also a contributing factor to the company's consistent success. For instance, four-bedroom plans in the company's new Castleberry Hills community start from the $190s.

            Last year was a record year for Richardson, with 209 homes sold. For 2007, the company expects to sell about 200 homes – and is on track to meet that projection. Also in 2007, Richardson Housing Group was named the U.S. Small Business Administration's Family-Owned Business of the Year in Georgia. Allen's wife Ann serves as the company's vice president, son Mark is vice president of development, and son-in-law Jason West serves as vice president of corporate affairs.

            A Gwinnett-based homebuilder established in 1973, Richardson learned the basics of the business from his father, Melvin. Father and son teamed to start Richardson Housing Group, building ten houses in the company's first year. More than three decades later, Richardson Housing Group has built more than 3,000 homes in Gwinnett County and has grown to over 35 employees, who have an average tenure in the company of nine years.

For more information on Richardson Housing Group contact 770-963-0359, ext. 323 or visit www.rhghomes.com.

About Richardson Housing Group
The family-owned and operated Richardson Housing Group has been serving homebuyers in north metro Atlanta and Gwinnett County for three decades. Since 1973, the company has built more than 3,000 homes.
            Richardson Housing Group is Georgia's 2007 Jeffrey Butland Family-Owned Business of the Year, an award bestowed by the US Small Business Administration. The company was also honored last year by Governor Sonny Perdue as a Georgia Small Business of Excellence, and Allen Richardson was named Builder Member of the Year by the Georgia Home Builders Association. In 2005, Richardson was a finalist for the Georgia Family Business of the Year, an award of the Cox Family Enterprise Center which recognizes family-owned enterprises for business and family success.

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