Sales of New Homes in '88 Set Fast Pace

By DICK TURPIN

March 19, 1989 12 AM PT

Sales of new homes throughout the Southland in 1988 continued at an unprecedented pace while production expectations for 1989 soared to another high.

The 18th annual Times survey of residential construction of a seven-county Southern California area reveals high optimism among home builders, who project a 29.5% increase in sales during the current year. Actual sales in 1988 increased 21.2% over 1987.

Builders, although wary of rising interest rates affecting their sales and conscious of a possible year-end slowdown, nevertheless expressed confidence in offering their firms’ projections for 1989 to The Times. (See accompanying story.)

The survey showed 1988 to be the fifth consecutive year of housing production, topping sales and projection marks established during the hectic period of sales and construction in the 1977-81 span, based upon an index devised by The Times Marketing Research Department.

Because participation in the survey is voluntary and the number of firms taking part varies every year, an index of median sales and projected sales has been computed for all participating firms in each of the 18 Times surveys.

By making the 1971 median sales and the 1972 median sales projections (both from the first survey) equal to 100.0, the median sales and projections from each survey have been compared to this base, creating an index. (See Page 23).

Upward Trend Continues

This allows for an overall trend comparison rather than a dollar comparison, which would not be meaningful. The median for actual 1988 sales for the 194 firms reporting sales was $29.6 million. The median projection for the 190 firms projecting sales for 1989 was $28.9 million. The indexes show the trends from 1971 and 1972.

The 1988 sales volume index of 321.7 marks an all-time high as the upward trend continues with a 22.7% increase over the previous survey.

The index for 1989 projections is 225.8, which is 7.4% higher than the 210.2 figure projected for 1988.

But some things didn’t change. The William Lyon Co. of Newport Beach and Watt Industries of Santa Monica repeated their respective places as leader and runner-up among the record 194 companies participating and ranked in 18th annual survey.

Lyon reported sales of $655.5 million; its 1987 sales figure was $506.3 million. The company exceeded its 1988 sales projections of $577 million by $78.5 million, building a total of 4,564 units--34% of them single-family homes, 53.4% apartments and 12.6% condominiums.

Total Southland sales--in Los Angeles, Orange, San Diego, Ventura, Riverside, San Bernardino and Kern counties--hit the $11.4-billion mark for the 194 reporting firms. That was a 21.2% increase over the $9.4 billion figure recorded by 177 companies in the 1987 survey.

In major shifts among the builders, Barratt American Inc. of Irvine advanced from 19th place in last year’s ranking to 8th in the new survey, while Pacific Scene Inc. of San Diego dropped from 9th to 62nd place.

Hampton Development of Valencia, ranked 194th (last place), is expecting the largest gain in sales this year--1,700%. It had only $300,000 in 1988 but has set its sights on a $5.4-million goal in 1989. RWR Development Inc. of Van Nuys, ranked 124th, is projecting the largest dollar increase, $152 million from $17.4 million in 1988 to $169.4 million in 1989, a 873.6% jump in home sales.

Seventh-ranked Kaufman & Broad Home Corp. of Los Angeles predicts it will have the second largest dollar increase, $150.4 million, from $249.6 million last year to $400 million in 1989, up 60.3%.

The Southland builders produced 74,402 housing units last year--up only 1% from the 1987 output of 73,652 units, even though there were 17 more firms reporting building activity in the current survey.

Of that output, single-family construction represented the largest number--36,316--or 48.8% of the total, up slightly from the 48.1% reported for 1987 construction.

Most Single-Family Homes

Kaufman & Broad recorded the largest number of single-family homes, 1,833, built last year. That figure accounted for 90.5% of the firm’s total production while third-ranked Lewis Homes Group of Companies of Upland completed 1,580 single-family homes, 68.7% of its 1988 output.

Of the 190 firms that reported sales for 1988 and projections for 1989, 80% (152 companies) forecast an increase in their production, expressing a bit more optimism than the 79.5% of the 171 builders who made projections in the previous survey. Apartment construction totaled 27,601 units, or 37.1% of all building activity during 1988, slightly below the 1987 figure of 38%. The Lyon Co. built 2,439 apartment units, topping the field and that figure amounted to 53.4% of its total output.

Eighty-one developers (41.8%) reported building apartment units last year, compared to 73 firms, or 41.2%, in 1987. Among the 81, 27, or 33.3%, constructed apartment units exclusively. A total of 74 firms (38.1%) built condominiums during 1988. That was a drop from the previous survey’s 41.2%. There were 10,485 condominium units built, representing 14.1% of all housing units built last year. In 1987, the corresponding figures were 10,303 or 14%. Griffin Homes of Calabasas, ranked 18th, led all builders in this category, producing 746 units, or 51.7% of the total.

Among the 194 firms’ plans for this year, 164, or 84.5%, plan some activity in single-family homes and 66 companies, or 40.2%, of the builders plan to build single-family units only. Seventy-seven, or 47%, will build apartments and of those, 19 builders, or 26.7%, will construct apartments only. In the condominium category, 82 builders, or 42.3%, plan to build such units and of that number, only five, or 6.1%, will build condominiums exclusively.

Thirty-one builders, or 16%, plan building activity in all three housing types this year.

Completed and unsold inventory at the end of the firms accounting periods totaled 4,429 units, an increase of 1,022 units from the previous year’s survey count of 3,407. Well over half, or 62.9% of the 194 companies, reported no inventory at the conclusion of their accounting periods.

Calmark Development Corp. of Los Angeles, ranked 27th, had the largest number of unsold units, 1,248. Century West Development Inc. of Santa Monica, ranked 51st, was second, with 740 unsold units.

A marked increase in the production of manufactured housing is expected this year, although the total numbers involved are still quite small. Eight companies expect to build 1,118 units this year, a jump of 204.6% from the 367 units forecast for 1988.

The No. 1 ranked Lyon Co., after producing 729 manufactured housing units last year, or 70.2% of that total, does not plan to build any such units this year, having sold its interest in a manufacturing firm, Golden West.

Eight firms built 1,039 manufactured homes during 1988, representing 4.1% of the survey participants. In 1987, four (2.3%) reporting firms produced 2,338 units. Although the number of firms involved in manufactured housing doubled, the total number of units built dropped by more than 50% from 1987-1988.

In the solar-equipped units category, 18 builders, or 9.3% of all firms taking part in the survey, plan to construct housing units or pools equipped with active solar-energy systems this year. Last year, 10.2% of 177 firms reported plans to use solar systems. This year, one firm reported it will use the system for pools and spas only.

Pardee Construction Co. of Los Angeles, ranked 15th, anticipates using the largest number of solar-equipped units this year, 1,024 divided among 608 apartments and 416 condominiums. Weinstock Construction Corp. of Studio City, ranked 78th, is a close second, with 953 units planned, 53 in single-family houses and 900 in apartments.

As has been the case since the beginning of the survey, a number of firms--12 this year--submitted incomplete information on the single-sheet form and could not be ranked. And again this year, many firms failed to meet the deadline.

Participation Rate

The survey revealed that 119 companies participated in both the current and 17th annual survey, a 61.3% participation rate compared with the 65.5% figure between the 16th and 17th surveys.

Of those 119 companies, sales increased for 78 firms, declined for 40 and remained the same for one. Sales totaled over $9 billion, up 21.4% from the previous year’s total of $7.4 billion for companies reporting two consecutive years.

The largest percentage increase among firms participating in the consecutive surveys was for the Tom Egerer Development Co. of Manhattan Beach, ranked 142nd, up 475% from $2 million in 1987 to $11.5 million in 1988. Western Capital Development Inc. of Los Angeles, ranked 176th, experienced the largest percentage decrease, 75.7%, from $14 million in 1987 to $3.4 million in 1988. The Lyon firm had the largest dollar increase of $149.2 million for a 29.5% increase over 1987. The largest dollar decrease was $153.9 million reported by Pacific Scene Inc. a drop of 75.1%.

Among those 119 companies, 117 made projections for 1988. Fifty-one, or 43.6%, topped their predictions, 64, or 54.7%, did not and two firms, or 1.7%, exactly met their 1988 forecast.

In 1988, the 119 firms participating in 1987 and 1988 built 55,157 housing units, 1.3% fewer than the 1987 total of 55,865 and 54, or 45.4%, of them built more units in 1988 than in 1987. Fifty-nine companies (49.6%) built fewer units in 1988 than in 1987, while six builders (5%) built the same number. In last year’s survey, 56% built more units while only 42.2% built less.

Technical Support

Technical support for the 18th annual Times survey of residential construction in Southern California was provided by Claudia Brennan, VC Hines and Clif Tanaka of the Times’ Marketing Research Department.

BUILDING LEADERS

Sales in millions 1988 Company 1988 1989 Rank Address, Key Officer Volume Projection 1 Lyon (William) Co., The $655.5 $747.1 Newport Beach, William Lyon 2 Watt Industries Inc. 532.0 540.0 Santa Monica, R.A. Watt/K.R. Ramsey 3 Lewis Homes Group of Cos. 370.8 330.0 Upland, Richard A. Lewis 4 Brock (M.J.) & Sons Inc. 290.0 0.0 Los Angeles, Jack R. Harter 5 CoastFed Properties* 273.8 306.0 Beverly Hills, Alan I. Casden 6 Presley Cos., The 262.4 259.8 Irvine, Wade Cable 7 Kaufman & Broad Home Corp.* 249.6 400.0 Los Angeles, Bruce Karatz 8 Barratt American Inc. 216.7 252.0 Irvine, Mark L. Frazier 9 Urban West Communities 212.0 70.0 Santa Monica, Stephen Gunther 10 Fieldstone Co., The 207.5 280.0 Newport Beach, Peter M. Ochs 11 Warmington Homes 203.2 340.0 Costa Mesa, James P. Warmington 12 McMillin Cos.+ 195.0 210.0 National City, Macey L. McMillin Jr. 13 Homestead Group Associates, The 190.0 105.0 Los Angeles, Haskel Iny 14 Bramalea California Inc.* 186.9 196.3 Costa Mesa, Peter B. Perrin 15 Pardee Construction Co.* 182.9 262.6 Los Angeles, David E. Landon 16 Buie Corp., The 181.7 225.0 San Diego, Robert F. Buie 17 Lusk Co., The 173.6 240.3 Irvine, J.D. Lusk/D.D. Huennekens 18 Griffin Homes* 162.0 230.0 Calabasas, Paul E. Griffin Jr. 19 Baldwin Co., The 157.0 147.5 Irvine, Al Baldwin 20 Woodcrest Development Inc.* 152.0 250.0 Irvine, Ronald J. Gilles 21 Paragon Homes Inc. 151.6 202.5 Santa Monica, Irwin E. Garfield 22 Lycon Group 146.3 125.0 Sherman Oaks, Francescon/Francescon/Lyons 23 Shea Homes 142.6 129.1 Walnut, Roy Humphreys 24 Lincoln Property Co. 137.1 179.2 Huntington Beach, William W. Hirsch 25 San-T Development Corp. 127.5 125.0 Santee, M. Larry Lawrence/Art Thompson 26 Ahmanson Developments Inc. 127.3 176.5 Covina, Jeffrey A. Slavin 27 Calmark Development Corp.* 125.4 252.7 Los Angeles, John M. Huskey 28 Leisure Technology Inc.* 125.0 260.0 Los Angeles, Michael L. Tenzer 29 Sunrise Co.* 123.0 193.0 Palm Desert, William Bone 30 A-M Homes 117.4 133.3 Santa Barbara, Michael Muench/James Araujo 31 GBW Properties Inc. 116.7 167.6 Los Angeles, Jay H. Wilton 32 Marlborough Development Corp. 112.7 208.0 Los Angeles, Donald B. Edwards 33 California Communities Inc. 112.0 178.0 Irvine, George R. Meeker Jr. 34 Goldrich & Kest Industries 111.6 100.0 Culver City, Jona Goldrich 35 GLENFED Development Corp. 103.5 105.0 Encino, Terry Hess/Mel Wynn 36 Larwin Co. 102.3 140.0 Encino, Michael I. Keston 37 Newhall Land & Farming Company, The 102.1 128.0 Valencia, Thomas L. Lee 38 Anastasi Construction Co. Inc. 95.3 100.0 Redondo Beach, Wayne G. Anastasi 39 Thompson (Kathryn G.) Development Co. 89.0 110.0 Irvine, Kathryn G. Thompson 40 Forest City Development 85.2 112.5 Los Angeles, Steven P. Albert 41 Harris Bros. 83.8 59.5 Irvine, Willard V. Harris Jr./Ben C. Harris 42 First Financial Group Inc. 82.3 72.4 Encino, Jack Shine 43 Western National Properties 80.9 75.0 Orange, Michael K. Hayde 44 Cayman Development Co. 80.5 81.5 Irvine, Raymond J. Rutter 45 J.C.C. Development+ 78.0 100.0 Torrance, Jack C. Cameron 46 Citation Builders 76.4 102.0 Tustin, Anthony Allen 47 Davidson Communities Inc. 67.3 80.2 San Diego, William A. Davidson 48 Richmond American 67.0 118.3 Irvine, Jack Davidson 49 Forecast Mortgage Corp.* 63.6 130.0 Rancho Cucamonga, James P. Previti 50 Raznick & Sons Inc. 62.4 70.0 Woodland Hills, Aaron L. Raznick 51 Century West Development Inc. 62.0 72.0 Santa Monica, Mow/Dudzinsky/Cook 52 Covington Development Group Inc.+ 61.3 83.3 Fullerton, Loran D. Covington 53 Century Homes 58.3 75.0 Riverside, John Pavelak 54 Amir Development Co. 58.0 60.0 Beverly Hills, Paul Amir 54 McComic (R.B.) Inc. 58.0 70.0 San Diego, R. Barry McComic/Gary Copson 56 Pacific Landmark Development Corp. 57.4 70.4 Newport Beach, Mark B. David 57 Whitehawk Partnership Inc., The 57.0 30.0 Pasadena, James W. Oates/L.R. Schield Jr. 58 Signature Homes Inc. 55.1 79.0 El Toro, Norman Stuard 59 Weston Development Corp.+ 53.6 61.0 Los Angeles, John A. Ashkar 60 JBR Development Co. 52.5 32.0 Beverly Hills, Jack Rosenberg 61 Century American 51.2 21.0 Orange, Roger C. Hobbs 62 Pacific Scene Inc. 51.1 110.0 San Diego, Tawfiq N. Khoury 63 Van Daele Development Corp. 50.5 110.0 Riverside, Michael B. Van Daele 64 Wilma Pacific Inc. 49.5 20.0 Westlake Village, Joseph M. Bowman 65 Inco Homes 49.4 69.5 Upland, Ira C. Norris 66 Woodview Development Co. Inc. 49.2 112.0 Santa Ana, Tom C. Siffermann 67 Hillside Residential Inc.* 48.0 70.0 Lancaster, Alain B. Rogier 68 Selko (Martin) Co.* 46.6 51.7 Beverly Hills, Martin P. Selko 69 Costain Homes Inc. 46.0 52.4 Newport Beach, Jack Dangelo 69 Zellner Communities Inc.* 46.0 52.5 Costa Mesa, Donald G. Zellner 71 Allred (Douglas) Co.* 45.4 35.8 San Diego, Douglas O. Allred 72 Homestead Land Development Corp. 45.0 75.0 Corona, Richard L. Crook 72 Laing (John) Homes (California) Inc. 45.0 100.0 Laguna Hills, Robert Fritts 74 Friedman Homes Inc. 42.3 53.0 Rancho Cucamonga, Paul Friedman 74 West Venture Development Co. 42.3 60.5 Encino, Bob Miller/Lou Berkowitz 76 Manning Co.* 41.1 75.0 Santa Ana Heights, James C. Manning 77 Wurtzel & Fox Investment Co. 40.0 50.0 Los Angeles, David L. Fox 78 Weinstock Construction Corp. 37.9 49.1 Studio City, Julian Weinstock/ Brian Weinstock 79 Columbia Residential Development 37.1 53.0 Beverly Hills, Dr. Alan J. Khedari 80 D&S; Development Corp. 36.2 74.0 Santa Monica, Byron Lasky 81 IDM Corp. 35.0 100.0 Long Beach, M.J. Choppin 81 Pacifica Corp., The 35.0 65.0 Westlake Village, Dana Arnold 81 Selby/Fowlkes Partners 35.0 60.0 Los Angeles, Richard W. Selby 84 Yariv Enterprises 34.5 0.0 Sherman Oaks, Meir Yariv 85 JL Construction Co. 34.3 100.3 Carlsbad, James Loren Franklin 86 Andrew (Michael) Group Inc., The 34.0 103.0 San Diego, R.M. Scharringhausen 86 Aziz and Abrams Corp., The* 34.0 38.0 Irvine, Aziz S. Aziz/Mark Abrams 86 Fassberg Construction Co.* 34.0 36.0 Los Angeles, Abraham S. Fassberg 89 All Valley Financial Corp. 33.2 60.5 Tarzana, Howard W. Speer 90 Franciscan West Developments Inc. 33.0 20.0 Santa Barbara, John J. Schuck 91 Institutional Property Investor Inc. 32.5 28.0 Irvine, David Michelson 91 Rhoades (J.P.) Development 32.5 32.0 Santa Ana, Jeffrey P. Rhoades 91 Stratham Group, The 32.5 20.0 Newport Beach, Ali Razi 94 MacLeod Development Co. 31.0 35.0 Pasadena, Richard H. MacLeod 95 Surfside Development Inc. 30.8 28.9 Hermosa Beach, Morton Sinnott 96 Grupe Development Co.-Southern California 30.6 48.4 Costa Mesa, William K. Hobin 97 RGC-Recreactions Group of Cos. 29.6 50.0 Newport Beach, E. James Murar 98 Pacer Homes 28.8 38.0 Fullerton, J. Randolph Poag 99 Coast Construction Co. Inc. 28.3 20.0 Brea, Nat S. Harty 100 Spielman-Cohen Builders 28.0 30.0 Beverly Hills, Howard Cohen/ Sanford Spielman 101 888 Development Co. 27.4 30.0 Santa Ana, Tsutomu (Tom) Fukushima 102 Summerhill Development Co.* 27.1 20.0 Newport Beach, Thomas E. Christensen 103 Broadmoor Homes+ 27.0 41.0 San Diego, George J. Nicholas 103 Cunningham-Barisic Development Corp. 27.0 20.0 Orange, David. M. Cunningham 105 Heers (John C.) Inc.* 26.0 26.0 Colton, William R. Heers 106 Harlon West Inc. 25.5 47.8 Los Angeles, Lon B. Rubin 107 Raider Planning & Construction Inc. 24.1 30.0 Canoga Park, Theodore Stein Jr. 108 Republic Development Co. 23.4 67.0 Anaheim, John R. Hartung 109 Jess Ranch Development Co.* 22.6 22.8 Apple Valley, Bruce W. Gillam 110 Patrick Development Ltd. 22.5 88.0 San Diego, Patrick Kruer 111 Saddleback Homes Inc.* 22.3 25.0 Santa Ana, Tom Williams 112 Hill Williams Development Corp.* 22.2 55.0 Anaheim Hills, Donald H. Williams Jr. 113 Rancho Vista Development Co. 22.0 40.0 Palmdale, R. Gregg Anderson 114 Wingate Real Estate Investments Inc.* 21.9 23.4 El Segundo, Dennis H. Wingate 115 McClellan Development* 21.4 15.0 Orange, Michael W. McClellan 116 Projects West Corp.* 21.2 35.0 Encino, Gary C. Simons 117 S & M Builders Co. Inc.* 21.0 25.0 Rancho Cucamonga, Sherman Ralph Dennis 118 EPAC Development 20.8 17.6 Costa Mesa, Rick Doremus 119 A R Development Co. 20.5 31.0 Beverly Hills, Al Dick/Rob Dick 120 USA Properties Fund Inc. 20.1 22.0 Pomona, J.B. Brown 121 LDM Development Inc. 20.0 40.7 Laguna HIlls, Laurence R. Lizotte 122 Pacific World Corp. 19.5 22.0 Los Angeles, Roger M. Temple 123 Wilshire West Inc. 18.9 22.0 Los Angeles, Sarah G. Berg 124 RWR Development Inc. 17.4 169.4 Van Nuys, Bill Rheinschild 125 Baywood Development Group 16.2 22.1 Newport Beach, William R. Watt 125 Sumitomo Realty & Development CA. Inc.*+ 16.2 43.1 Laguna Hills, Kazuo Masuoka 127 Russell/Packard 16.0 30.0 Development&Construction; Inc. Glendale, Lawrence M. Russell 128 Ved Corp., The 15.8 35.0 Yorba Linda, Jay Ved 129 Costa Group, The 15.0 9.0 Carlsbad, William J. Koll 130 PDC Housing Group* 14.7 41.6 City of Industry, Vincent Petralia 131 Alpha Construction Co. Inc.* 14.5 15.6 Van Nuys, Irvin Laxineta 132 Sirco Development Inc. 14.1 9.0 Garden Grove, Robert Soloman 133 California Community Builders Inc. 14.0 63.1 Santa Monica, W.A. Fruehling/F.H. Countner 133 Concorde Development* 14.0 40.0 Irvine, Barry Gross/Dennis Gage 133 Korda Construction Co. 14.0 16.0 Los Angeles, Joseph Korda/Robert Korda 133 Morrison Homes-Southern Division 14.0 45.6 Escondido, Bud H. Fink 137 Calstar Equities Inc.+ 12.8 12.8 Los Angeles, Howard A. Jacobs 138 Construction & Development Systems Inc. 12.5 12.0 Sherman Oaks, Ernest L. Kossacoff 138 Rigney Development Co. Inc. 12.5 26.0 Northridge, F. Daniel Rigney 138 Southwest Development Corp.* 12.5 0.0 Manhattan Beach, Mark P. Mitchell 141 Cantwell-Anderson Inc. 12.0 4.0 Altadena, Thomas R. Cantwell/ Greg I. Anderson 142 Egerer (Tom) Development Co. 11.5 7.0 Manhattan Beach, Tom Egerer 142 Laguna Pacific Development Corp. 11.5 24.0 Oxnard, Darrel W. Wright 144 Barrinson Development Inc. 11.2 30.7 Newport Beach, Gene Barrow/Wil Wilkinson 145 Alexander/Catania Development Inc. 10.5 15.0 Azusa, Guy Alexander/Phil Catania 146 Newport Harbor Builders Inc. 10.3 25.0 Costa Mesa, John L. Peterka 147 Trider Corp. 10.0 26.4 Newport Beach, Alan Trider 148 Lan Ron Builders 9.7 17.2 Laguna Hills, Grover C. Brown Jr. 149 Ash Inc.* 9.5 10.0 Woodland Hills, Albert S. Howell 149 D&J; Development Co. 9.5 12.8 Van Nuys, Douglas V. Zaer/James H. Cole 149 Structural Builder’s Inc.* 9.5 21.8 Los Angeles, Bill Mayer 152 Unique Construction Inc.* 9.0 12.0 Los Angeles, Chong Lee 153 Bowden Development Inc.* 8.8 22.0 Monrovia, Fred E. Bowden 153 Johnson (A.E.) Development Inc. 8.8 13.0 Huntington Beach, Al Johnson 155 Golden State Investments* 8.6 14.0 Lancaster, P. Mohanan 156 Terra Industries Inc.* 8.3 18.6 San Diego, Robert E. Kreis 157 Iny Development Corp. 7.7 10.8 Los Angeles, Abraham Iny 157 Sierra Bahia Corp. 7.7 14.0 Montebello, Donald Schriver 159 Allwest Development Corp. 7.5 0.0 Pasadena, Bernard Krasik 159 Talcove & Familian Co. 7.5 21.5 Sherman Oaks, Bruce Familian 161 Hix Development Corp. 7.4 9.0 San Dimas, Ernest H. Hix 162 Desert Bay Properties Inc. 6.8 32.2 Redondo Beach, Fabian A. Abram 163 Jeffrey Group Inc.* 6.5 21.5 Dana Point, Doyle J. Barker 164 Lilco Homes* 6.3 5.0 Huntington Beach, L.M. Lilly III 164 New View Development Inc.* 6.3 6.5 Woodland Hills, Craig Stevens/ Richard Vamos 166 C.A.S. Development Corp. 5.9 7.5 Fountain Valley, Terry W. Smith 167 Frontrunner Homes 5.7 6.2 Newport Beach, L. Vincent Mayell 168 Far West Development Inc.* 5.4 10.7 Tustin, Gary M. Gits 169 Alamo Homes Inc. 5.1 29.0 Canoga Park, Hans Lampart 170 Quorum Properties 4.8 15.0 Los Angeles, Alexander Furlotti 171 Bulmer (S.H.) & Associates Inc.* 4.5 20.0 Calabasas, Stanley H. Bulmer 172 Heck Enterprises Inc. 4.0 15.0 Rancho Mirage, M. Paul Heck 173 Crusberg (Robert L.) Development Co. Inc. 3.8 13.7 Calabasas, Robert L. Crusberg 173 Zentmyer (Gary) Development* 3.8 4.5 La Canada, Gary A. Zentmyer 175 Fucci Construction Co. 3.5 10.0 Redondo Beach, Dominic Fucci 176 Western Captial Development Inc. 3.4 28.4 Los Angeles, Kenneth Pressberg 177 Manuelli & Stratton Inc.* 3.2 2.0 Sierra Madre, Bruce Stratton 177 Weiss Engineering & Development Co. Inc. 3.2 8.3 Sherman Oaks, Bernard S. Weiss 179 California Diversified Building 3.1 2.6 Systems Inc.* Redondo Beach, Robert T. Mathews 179 Odle & Son Construction 3.1 3.9 Redondo Beach, J. David Odle 179 Upton Development Corp. 3.1 5.7 Irvine, James S. Upton 182 Campbell Contractors*+ 2.8 3.6 Rolling Hills Estates, Roy Campbell 182 Quintessence Development Co. 2.8 17.0 Riverside, Joseph H. Quinn 182 Western Pacific Development* 2.8 3.0 Corona, Mahan Eshaiker 185 Krenz (Ed) Corp. 2.7 6.0 Pasadena, Ed Krenz 186 Lencrest Developments Inc. 2.6 6.0 Encino, Len Weksler 187 Banks Development Corp.* 2.1 5.6 Long Beach, Conrad Banks 188 Stucker Construction 2.0 4.5 Tarzana, Lee Stucker 189 Colonial Construction Co. 1.6 8.6 Pasadena, William H. Bucher 190 Uptown Development Inc. 1.4 2.5 San Diego, Duncan J. McNeil 191 Dena Development Inc. 1.3 1.2 Los Angeles, Bahman Fakhimi 192 Ann Arbor Homes 1.2 6.9 Vista, George L. Helms 193 W.B. Construction 0.6 1.6 Ventura, Garfield Sorenson 194 Hampton Development 0.3 5.4 Valencia, Gregory J. Weirich

1988 Rank Total 1 4,564 2 2,033 3 2,300 4 1,007 5 1,444 6 1,762 7 2,025 8 1,166 9 720 10 1,230 11 1,024 12 417 13 984 14 835 15 1,142 16 613 17 1,033 18 1,444 19 687 20 835 21 743 22 928 23 875 24 1,808 25 1,494 26 707 27 2,101 28 780 29 347 30 607 31 1,875 32 690 33 561 34 745 35 720 36 520 37 756 38 398 39 441 40 809 41 1,056 42 502 43 952 44 176 45 289 46 605 47 300 48 373 49 720 50 278 51 570 52 458 53 600 54 246 54 225 56 825 57 244 58 277 59 419 60 173 61 296 62 363 63 462 64 166 65 432 66 297 67 360 68 14 69 117 69 252 71 424 72 350 72 388 74 342 74 291 76 209 77 381 78 453 79 10 80 284 81 385 81 125 81 300 84 230 85 224 86 292 86 486 86 341 89 160 90 207 91 677 91 163 91 468 94 265 95 411 96 397 97 241 98 103 99 145 100 84 101 175 102 216 103 165 103 160 105 243 106 235 107 259 108 150 109 226 110 360 111 124 112 142 113 110 114 61 115 140 116 209 117 114 118 86 119 103 120 276 121 97 122 2 123 88 124 26 125 100 125 47 127 66 128 147 129 116 130 93 131 240 132 157 133 81 133 54 133 137 133 142 137 41 138 208 138 63 138 96 141 347 142 34 142 130 144 90 145 51 146 27 147 34 148 120 149 152 149 88 149 3 152 359 153 50 153 87 155 83 156 72 157 96 157 58 159 72 159 40 161 37 162 86 163 17 164 58 164 5 166 38 167 49 168 39 169 25 170 18 171 60 172 25 173 4 173 22 175 40 176 61 177 8 177 12 179 19 179 5 179 7 182 2 182 18 182 44 185 6 186 32 187 24 188 6 189 11 190 16 191 2 192 2 193 2 194 1

Units constructed in 1988 1988 Company Single Rank Address, Key Officer family Apts. Condos 1 Lyon (William) Co., The 1,551 2,439 574 Newport Beach, William Lyon (34.0%) (53.4%) (12.6%) 2 Watt Industries Inc. 1,485 0 548 Santa Monica, R.A. Watt/ (73.0%) (0.0%) (27.0%) K.R. Ramsey 3 Lewis Homes Group of Cos. 1,580 254 466 Upland, Richard A. Lewis (68.7%) (11.0%) (20.3%) 4 Brock (M.J.) & Sons Inc. 1,007 0 0 Los Angeles, Jack R. Harter (100%) (0.0%) (0.0%) 5 CoastFed Properties* 202 1,242 0 Beverly Hills, Alan I. Casden (14.0%) (86.0%) (0.0%) 6 Presley Cos., The 1,324 0 438 Irvine, Wade Cable (75.1%) (0.0%) (24.9%) 7 Kaufman & Broad Home Corp.* 1,833 192 0 Los Angeles, Bruce Karatz (90.5%) (9.5%) (0.0%) 8 Barratt American Inc. 758 0 408 Irvine, Mark L. Frazier (65.0%) (0.0%) (35.0%) 9 Urban West Communities 530 0 190 Santa Monica, Stephen Gunther (73.6%) (0.0%) (26.4%) 10 Fieldstone Co., The 1,040 0 190 Newport Beach, Peter M. Ochs (84.6%) (0.0%) (15.4%) 11 Warmington Homes 789 0 235 Costa Mesa, James P. Warmington (77.1%) (0.0%) (22.9%) 12 McMillin Cos.+ 417 0 0 National City, Macey L. McMillin Jr. (100%) (0.0%) (0.0%) 13 Homestead Group Associates, The 0 984 0 Los Angeles, Haskel Iny (0.0%) (100%) (0.0%) 14 Bramalea California Inc.* 733 0 102 Costa Mesa, Peter B. Perrin (87.8%) (0.0%) (12.2%) 15 Pardee Construction Co.* 714 80 348 Los Angeles, David E. Landon (62.5%) (7.0%) (30.5%) 16 Buie Corp., The 543 0 70 San Diego, Robert F. Buie (88.6%) (0.0%) (11.4%) 17 Lusk Co., The 748 158 127 Irvine, J.D. Lusk/D.D. Huennekens (72.4%) (15.3%) (12.3%) 18 Griffin Homes* 698 0 746 Calabasas, Paul E. Griffin Jr. (48.3%) (0.0%) (51.7%) 19 Baldwin Co., The 370 0 317 Irvine, Al Baldwin (53.9%) (0.0%) (46.1%) 20 Woodcrest Development Inc.* 759 0 76 Irvine, Ronald J. Gilles (90.9%) (0.0%) (9.1%) 21 Paragon Homes Inc. 473 0 270 Santa Monica, Irwin E. Garfield (63.7%) (0.0%) (36.3%) 22 Lycon Group 10 918 0 Sherman Oaks, Francescon/ (1.1%) (98.9%) (0.0%) Francescon/Lyons 23 Shea Homes 438 354 83 Walnut, Roy Humphreys (50.1%) (40.5%) (9.5%) 24 Lincoln Property Co. 0 1,808 0 Huntington Beach, (0.0%) (100%) (0.0%) William W. Hirsch 25 San-T Development Corp. 450 504 540 Santee, M. Larry Lawrence/ (30.1%) (33.7%) (36.1%) Art Thompson 26 Ahmanson Developments Inc. 648 0 59 Covina, Jeffrey A. Slavin (91.7%) (0.0%) (8.3%) 27 Calmark Development Corp.* 40 2,041 20 Los Angeles, John M. Huskey (1.9%) (97.1%) (1.0%) 28 Leisure Technology Inc.* 780 0 0 Los Angeles, Michael L. Tenzer (100%) (0.0%) (0.0%) 29 Sunrise Co.* 0 0 347 Palm Desert, William Bone (0.0%) (0.0%) (100%) 30 A-M Homes 214 337 56 Santa Barbara, Michael Muench/ (35.3%) (55.5%) (9.2%) James Araujo 31 GBW Properties Inc. 0 1,875 0 Los Angeles, Jay H. Wilton (0.0%) (100%) (0.0%) 32 Marlborough Development Corp. 510 0 180 Los Angeles, Donald B. Edwards (73.9%) (0.0%) (26.1%) 33 California Communities Inc. 444 0 117 Irvine, George R. Meeker Jr. (79.1%) (0.0%) (20.9%) 34 Goldrich & Kest Industries 23 592 130 Culver City, Jona Goldrich (3.1%) (79.5%) (17.4%) 35 GLENFED Development Corp. 366 81 273 Encino, Terry Hess/Mel Wynn (50.8%) (11.3%) (37.9%) 36 Larwin Co. 520 0 0 Encino, Michael I. Keston (100%) (0.0%) (0.0%) 37 Newhall Land & 237 234 285 Farming Company, The (31.3%) (31.0%) (37.7%) Valencia, Thomas L. Lee 38 Anastasi Construction Co. Inc. 53 208 137 Redondo Beach, (13.3%) (52.3%) (34.4%) Wayne G. Anastasi 39 Thompson (Kathryn G.) 289 0 152 Development Co., Irvine (65.5%) (0.0%) (34.5%) Kathryn G. Thompson 40 Forest City Development 0 809 0 Los Angeles, Steven P. Albert (0.0%) (100%) (0.0%) 41 Harris Bros. 95 961** 0 Irvine, Willard V. Harris Jr./ (9.0%) (91.0%) (0.0%) Ben C. Harris 42 First Financial Group Inc. 372 0 130 Encino, Jack Shine (74.1%) (0.0%) (25.9%) 43 Western National Properties 0 952 0 Orange, Michael K. Hayde (0.0%) (100%) (0.0%) 44 Cayman Development Co. 65 0 111 Irvine, Raymond J. Rutter (36.9%) (0.0%) (63.1%) 45 J.C.C. Development+ 189 0 100 Torrance, Jack C. Cameron (65.4%) (0.0%) (34.6%) 46 Citation Builders 512 0 93 Tustin, Anthony Allen (84.6%) (0.0%) (15.4%) 47 Davidson Communities Inc. 178 0 122 San Diego, William A. Davidson (59.3%) (0.0%) (40.7%) 48 Richmond American 373 0 0 Irvine, Jack Davidson (100%) (0.0%) (0.0%) 49 Forecast Mortgage Corp.* 720 0 0 Rancho Cucamonga, James P. Previti (100%) (0.0%) (0.0%) 50 Raznick & Sons Inc. 262 0 16 Woodland Hills, Aaron L. Raznick (94.2%) (0.0%) (5.8%) 51 Century West Development Inc. 4 566 0 Santa Monica, Mow/Dudzinsky/Cook (0.7%) (99.3%) (0.0%) 52 Covington Development Group Inc.+ 292 80 86 Fullerton, Loran D. Covington (63.8%) (17.5%) (18.8%) 53 Century Homes 600 0 0 Riverside, John Pavelak (100%) (0.0%) (0.0%) 54 Amir Development Co. 0 246 0 Beverly Hills, Paul Amir (0.0%) (100%) (0.0%) 54 McComic (R.B.) Inc. 225 0 0 San Diego, R. Barry McComic/ (100%) (0.0%) (0.0%) Gary Copson 56 Pacific Landmark Development Corp. 199 626 0 Newport Beach, Mark B. David (24.1%) (75.9%) (0.0%) 57 Whitehawk Partnership Inc., The 176 60 8 Pasadena, James W. Oates/ (72.1%) (24.6%) (3.3%) L.R. Schield Jr. 58 Signature Homes Inc. 165 0 112 El Toro, Norman Stuard (59.6%) (0.0%) (40.4%) 59 Weston Development Corp.+ 29 216 174 Los Angeles, John A. Ashkar (6.9%) (51.6%) (41.5%) 60 JBR Development Co. 137 0 36 Beverly Hills, Jack Rosenberg (79.2%) (0.0%) (20.8%) 61 Century American 137 21 138 Orange, Roger C. Hobbs (46.3%) (7.1%) (46.6%) 62 Pacific Scene Inc. 299 64 0 San Diego, Tawfiq N. Khoury (82.4%) (17.6%) (0.0%) 63 Van Daele Development Corp. 300 162 0 Riverside, Michael B. Van Daele (64.9%) (35.1%) (0.0%) 64 Wilma Pacific Inc. 166 0 0 Westlake Village, Joseph M. Bowman (100%) (0.0%) (0.0%) 65 Inco Homes 432 0 0 Upland, Ira C. Norris (100%) (0.0%) (0.0%) 66 Woodview Development Co. Inc. 239 58 0 Santa Ana, Tom C. Siffermann (80.5%) (19.5%) (0.0%) 67 Hillside Residential Inc.* 360 0 0 Lancaster, Alain B. Rogier (100%) (0.0%) (0.0%) 68 Selko (Martin) Co.* 14 0 0 Beverly Hills, Martin P. Selko (100%) (0.0%) (0.0%) 69 Costain Homes Inc. 117 0 0 Newport Beach, Jack Dangelo (100%) (0.0%) (0.0%) 69 Zellner Communities Inc.* 198 0 54 Costa Mesa, Donald G. Zellner (78.6%) (0.0%) (21.4%) 71 Allred (Douglas) Co.* 16 408 0 San Diego, Douglas O. Allred (3.8%) (96.2%) (0.0%) 72 Homestead Land Development Corp. 350 0 0 Corona, Richard L. Crook (100%) (0.0%) (0.0%) 72 Laing (John) Homes 314 0 74 (California) Inc., Laguna Hills, (80.9%) (0.0%) (19.1%) Robert Fritts 74 Friedman Homes Inc. 342 0 0 Rancho Cucamonga, Paul Friedman (100%) (0.0%) (0.0%) 74 West Venture Development Co. 291 0 0 Encino, Bob Miller/Lou Berkowitz (100%) (0.0%) (0.0%) 76 Manning Co.* Santa Ana Heights 194 0 15 James C. Manning (92.8%) (0.0%) (7.2%) 77 Wurtzel & Fox Investment Co. 0 353 28 Los Angeles, David L. Fox (0.0%) (92.7%) (7.3%) 78 Weinstock Construction Corp. 31 422 0 Studio City, Julian Weinstock/ (6.8%) (93.2%) (0.0%) Brian Weinstock 79 Columbia Residential Development 10 0 0 Beverly Hills, Dr. Alan J. Khedari (100%) (0.0%) (0.0%) 80 D&S; Development Corp. 197 0 87 Santa Monica, Byron Lasky (69.4%) (0.0%) (30.6%) 81 IDM Corp. 0 385 0 Long Beach, M.J. Choppin (0.0%) (100%) (0.0%) 81 Pacifica Corp., The 125 0 0 Westlake Village, Dana Arnold (100%) (0.0%) (0.0%) 81 Selby/Fowlkes Partners 0 300 0 Los Angeles, Richard W. Selby (0.0%) (100%) (0.0%) 84 Yariv Enterprises 0 230 0 Sherman Oaks, Meir Yariv (0.0%) (100%) (0.0%) 85 JL Construction Co. 0 224 0 Carlsbad, James Loren Franklin (0.0%) (100%) (0.0%) 86 Andrew (Michael) Group Inc., The 17 45 230 San Diego, R.M. Scharringhausen (5.8%) (15.4%) (78.8%) 86 Aziz and Abrams Corp., The* 0 486 0 Irvine, Aziz S. Aziz/Mark Abrams (0.0%) (100%) (0.0%) 86 Fassberg Construction Co.* 2 265 74 Los Angeles, Abraham S. Fassberg (0.6%) (77.7%) (21.7%) 89 All Valley Financial Corp. 155 0 5 Tarzana, Howard W. Speer (96.9%) (0.0%) (3.1%) 90 Franciscan West Developments Inc. 0 111 96 Santa Barbara, John J. Schuck (0.0%) (53.6%) (46.4%) 91 Institutional Property Investor Inc. 0 677 0 Irvine, David Michelson (0.0%) (100%) (0.0%) 91 Rhoades (J.P.) Development 163 0 0 Santa Ana, Jeffrey P. Rhoades (100%) (0.0%) (0.0%) 91 Stratham Group, The 80 284 104 Newport Beach, Ali Razi (17.1%) (60.7%) (22.2%) 94 MacLeod Development Co. 195 0 70 Pasadena, Richard H. MacLeod (73.6%) (0.0%) (26.4%) 95 Surfside Development Inc. 0 411 0 Hermosa Beach, Morton Sinnott (0.0%) (100%) (0.0%) 96 Grupe Development Co.-Southern 117 280 0 California (29.5%) (70.5%) (0.0%) Costa Mesa, William K. Hobin 97 RGC-Recreactions Group of Cos. 0 0 241 Newport Beach, E. James Murar (0.0%) (0.0%) (100%) 98 Pacer Homes 103 0 0 Fullerton, J. Randolph Poag (100%) (0.0%) (0.0%) 99 Coast Construction Co. Inc. 18 0 127 Brea, Nat S. Harty (12.4%) (0.0%) (87.6%) 100 Spielman-Cohen Builders 6 78 0 Beverly Hills, Howard Cohen/ (7.1%) (92.9%) (0.0%) Sanford Spielman 101 888 Development Co. 175 0 0 Santa Ana, Tsutomu (Tom) Fukushima (100%) (0.0%) (0.0%) 102 Summerhill Development Co.* 0 162 54 Newport Beach, Thomas E. Christensen (0.0%) (75.0%) (25.0%) 103 Broadmoor Homes+ 165 0 0 San Diego, George J. Nicholas (100%) (0.0%) (0.0%) 103 Cunningham-Barisic Development Corp. 160 0 0 Orange, David. M. Cunningham (100%) (0.0%) (0.0%) 105 Heers (John C.) Inc.* 243 0 0 Colton, William R. Heers (100%) (0.0%) (0.0%) 106 Harlon West Inc. 0 235 0 Los Angeles, Lon B. Rubin (0.0%) (100%) (0.0%) 107 Raider Planning & Construction Inc. 19 240 0 Canoga Park, Theodore Stein Jr. (7.3%) (92.7%) (0.0%) 108 Republic Development Co. 150 0 0 Anaheim, John R. Hartung (100%) (0.0%) (0.0%) 109 Jess Ranch Development Co.* 189 37 0 Apple Valley, Bruce W. Gillam (83.6%) (16.4%) (0.0%) 110 Patrick Development Ltd. 0 360 0 San Diego, Patrick Kruer (0.0%) (100%) (0.0%) 111 Saddleback Homes Inc.* 124 0 0 Santa Ana, Tom Williams (100%) (0.0%) (0.0%) 112 Hill Williams Development Corp.* 82 0 60 Anaheim Hills, (57.7%) (0.0%) (42.3%) Donald H. Williams Jr. 113 Rancho Vista Development Co. 110 0 0 Palmdale, R. Gregg Anderson (100%) (0.0%) (0.0%) 114 Wingate * 0 61 0 Real Estate Investments Inc. (0.0%) (100%) (0.0%) El Segundo, Dennis H. Wingate 115 McClellan Development* 140 0 0 Orange, Michael W. McClellan (100%) (0.0%) (0.0%) 116 Projects West Corp.* 0 209 0 Encino, Gary C. Simons (0.0%) (100%) (0.0%) 117 S & M Builders Co. Inc.* 66 48 0 Rancho Cucamonga, (57.9%) (42.1%) (0.0%) Sherman Ralph Dennis 118 EPAC Development 86 0 0 Costa Mesa, Rick Doremus (100%) (0.0%) (0.0%) 119 A R Development Co. 103 0 0 Beverly Hills, Al Dick/Rob Dick (100%) (0.0%) (0.0%) 120 USA Properties Fund Inc. 156 120 0 Pomona, J.B. Brown (56.5%) (43.5%) (0.0%) 121 LDM Development Inc. 97 0 0 Laguna HIlls, Laurence R. Lizotte (100%) (0.0%) (0.0%) 122 Pacific World Corp. 2 0 0 Los Angeles, Roger M. Temple (100%) (0.0%) (0.0%) 123 Wilshire West Inc. 46 42 0 Los Angeles, Sarah G. Berg (52.3%) (47.7%) (0.0%) 124 RWR Development Inc. 26 0 0 Van Nuys, Bill Rheinschild (100%) (0.0%) (0.0%) 125 Baywood Development Group 53 0 47 Newport Beach, William R. Watt (53.0%) (0.0%) (47.0%) 125 Sumitomo Realty *+ 42 0 5 & Development CA. Inc. (89.4%) (0.0%) (10.6%) Laguna Hills, Kazuo Masuoka 127 Russell/Packard 66 0 0 Development&Construction; Inc. Glendale, Lawrence M. Russell (100%) (0.0%) (0.0%) 128 Ved Corp., The 147 0 0 Yorba Linda, Jay Ved (100%) (0.0%) (0.0%) 129 Costa Group, The 116 0 0 Carlsbad, William J. Koll (100%) (0.0%) (0.0%) 130 PDC Housing Group* 93 0 0 City of Industry, Vincent Petralia (100%) (0.0%) (0.0%) 131 Alpha Construction Co. Inc.* 0 240 0 Van Nuys, Irvin Laxineta (0.0%) (100%) (0.0%) 132 Sirco Development Inc. 157 0 0 Garden Grove, Robert Soloman (100%) (0.0%) (0.0%) 133 California Community Builders Inc. 81 0 0 Santa Monica, W.A. Fruehling/ (100%) (0.0%) (0.0%) F.H. Countner 133 Concorde Development* 54 0 0 Irvine, Barry Gross/Dennis Gage (100%) (0.0%) (0.0%) 133 Korda Construction Co. 0 120 17 Los Angeles, Joseph Korda/ (0.0%) (87.6%) (12.4%) Robert Korda 133 Morrison Homes- 121 0 21 Southern Division (85.2%) (0.0%) (14.8%) Escondido, Bud H. Fink 137 Calstar Equities Inc.+ 1 40 0 Los Angeles, Howard A. Jacobs (2.4%) (97.6%) (0.0%) 138 Construction & Development 0 208 0 Systems Inc. (0.0%) (100%) (0.0%) Sherman Oaks, Ernest L. Kossacoff 138 Rigney Development Co. Inc. 63 0 0 Northridge, F. Daniel Rigney (100%) (0.0%) (0.0%) 138 Southwest Development Corp.* 0 0 96 Manhattan Beach, Mark P. Mitchell (0.0%) (0.0%) (100%) 141 Cantwell-Anderson Inc. 0 280 67 Altadena, Thomas R. Cantwell/ (0.0%) (80.7%) (19.3%) Greg I. Anderson 142 Egerer (Tom) Development Co. 6 26 2 Manhattan Beach, Tom Egerer (17.6%) (76.5%) (5.9%) 142 Laguna Pacific Development Corp. 130 0 0 Oxnard, Darrel W. Wright (100%) (0.0%) (0.0%) 144 Barrinson Development Inc. 90 0 0 Newport Beach, Gene Barrow/ (100%) (0.0%) (0.0%) Wil Wilkinson 145 Alexander/Catania Development Inc. 51 0 0 Azusa, Guy Alexander/Phil Catania (100%) (0.0%) (0.0%) 146 Newport Harbor Builders Inc. 27 0 0 Costa Mesa, John L. Peterka (100%) (0.0%) (0.0%) 147 Trider Corp. 34 0 0 Newport Beach, Alan Trider (100%) (0.0%) (0.0%) 148 Lan Ron Builders 120 0 0 Laguna Hills, Grover C. Brown Jr. (100%) (0.0%) (0.0%) 149 Ash Inc.* 0 152 0 Woodland Hills, Albert S. Howell (0.0%) (100%) (0.0%) 149 D&J; Development Co. 50 38 0 Van Nuys, Douglas V. Zaer/ (56.8%) (43.2%) (0.0%) James H. Cole 149 Structural Builder’s Inc.* 3 0 0 Los Angeles, Bill Mayer (100%) (0.0%) (0.0%) 152 Unique Construction Inc.* 0 350 9 Los Angeles, Chong Lee (0.0%) (97.5%) (2.5%) 153 Bowden Development Inc.* 50 0 0 Monrovia, Fred E. Bowden (100%) (0.0%) (0.0%) 153 Johnson (A.E.) Development Inc. 87 0 0 Huntington Beach, Al Johnson (100%) (0.0%) (0.0%) 155 Golden State Investments* 42 41 0 Lancaster, P. Mohanan (50.6%) (49.4%) (0.0%) 156 Terra Industries Inc.* 0 0 72 San Diego, Robert E. Kreis (0.0%) (0.0%) (100%) 157 Iny Development Corp. 0 96 0 Los Angeles, Abraham Iny (0.0%) (100%) (0.0%) 157 Sierra Bahia Corp. 7 10 41 Montebello, Donald Schriver (12.1%) (17.2%) (70.7%) 159 Allwest Development Corp. 0 0 72 Pasadena, Bernard Krasik (0.0%) (0.0%) (100%) 159 Talcove & Familian Co. 0 40 0 Sherman Oaks, Bruce Familian (0.0%) (100%) (0.0%) 161 Hix Development Corp. 37 0 0 San Dimas, Ernest H. Hix (100%) (0.0%) (0.0%) 162 Desert Bay Properties Inc. 2 72 12 Redondo Beach, Fabian A. Abram (2.3%) (83.7%) (14.0%) 163 Jeffrey Group Inc.* 17 0 0 Dana Point, Doyle J. Barker (100%) (0.0%) (0.0%) 164 Lilco Homes* 58 0 0 Huntington Beach, L.M. Lilly III (100%) (0.0%) (0.0%) 164 New View Development Inc.* 5 0 0 Woodland Hills, Craig Stevens/ (100%) (0.0%) (0.0%) Richard Vamos 166 C.A.S. Development Corp. 3 8 27 Fountain Valley, Terry W. Smith (7.9%) (21.1%) (71.1%) 167 Frontrunner Homes 49 0 0 Newport Beach, L. Vincent Mayell (100%) (0.0%) (0.0%) 168 Far West Development Inc.* 39 0 0 Tustin, Gary M. Gits (100%) (0.0%) (0.0%) 169 Alamo Homes Inc. 13 0 12 Canoga Park, Hans Lampart (52.0%) (0.0%) (48.0%) 170 Quorum Properties 0 0 18 Los Angeles, Alexander Furlotti (0.0%) (0.0%) (100%) 171 Bulmer (S.H.) & Associates Inc.* 0 60 0 Calabasas, Stanley H. Bulmer (0.0%) (100%) (0.0%) 172 Heck Enterprises Inc. 25 0 0 Rancho Mirage, M. Paul Heck (100%) (0.0%) (0.0%) 173 Crusberg (Robert L.) 4 0 0 Development Co. Inc. (100%) (0.0%) (0.0%) Calabasas, Robert L. Crusberg 173 Zentmyer (Gary) Development* 3 19 0 La Canada, Gary A. Zentmyer (13.6%) (86.4%) (0.0%) 175 Fucci Construction Co. 0 30 10 Redondo Beach, Dominic Fucci (0.0%) (75.0%) (25.0%) 176 Western Captial Development Inc. 0 61 0 Los Angeles, Kenneth Pressberg (0.0%) (100%) (0.0%) 177 Manuelli & Stratton Inc.* 5 3 0 Sierra Madre, Bruce Stratton (62.5%) (37.5%) (0.0%) 177 Weiss Engineering & 1 0 11 Development Co. Inc. (8.3%) (0.0%) (91.7%) Sherman Oaks, Bernard S. Weiss 179 California Diversified * 13 0 6 Building Systems Inc. (68.4%) (0.0%) (31.6%) Redondo Beach, Robert T. Mathews 179 Odle & Son Construction 5 0 0 Redondo Beach, J. David Odle (100%) (0.0%) (0.0%) 179 Upton Development Corp. 7 0 0 Irvine, James S. Upton (100%) (0.0%) (0.0%) 182 Campbell Contractors*+ 2 0 0 Rolling Hills Estates, (100%) (0.0%) (0.0%) Roy Campbell 182 Quintessence Development Co. 18 0 0 Riverside, Joseph H. Quinn (100%) (0.0%) (0.0%) 182 Western Pacific Development* 0 44 0 Corona, Mahan Eshaiker (0.0%) (100%) (0.0%) 185 Krenz (Ed) Corp. 6 0 0 Pasadena, Ed Krenz (100%) (0.0%) (0.0%) 186 Lencrest Developments Inc. 0 32 0 Encino, Len Weksler (0.0%) (100%) (0.0%) 187 Banks Development Corp.* 0 24 0 Long Beach, Conrad Banks (0.0%) (100%) (0.0%) 188 Stucker Construction 6 0 0 Tarzana, Lee Stucker (100%) (0.0%) (0.0%) 189 Colonial Construction Co. 0 0 11 Pasadena, William H. Bucher (0.0%) (0.0%) (100%) 190 Uptown Development Inc. 4 12 0 San Diego, Duncan J. McNeil (25.0%) (75.0%) (0.0%) 191 Dena Development Inc. 2 0 0 Los Angeles, Bahman Fakhimi (100%) (0.0%) (0.0%) 192 Ann Arbor Homes 2 0 0 Vista, George L. Helms (100%) (0.0%) (0.0%) 193 W.B. Construction 2 0 0 Ventura, Garfield Sorenson (100%) (0.0%) (0.0%) 194 Hampton Development 1 0 0 Valencia, Gregory J. Weirich (100%) (0.0%) (0.0%)

1988 Year-end Rank Inventory 1 0 2 22 3 60 4 37 5 0 6 0 7 26 8 44 9 0 10 22 11 2 12 0 13 0 14 0 15 11 16 50 17 9 18 42 19 0 20 2 21 0 22 0 23 0 24 0 25 0 26 0 27 1,248 28 25 29 24 30 1 31 0 32 3 33 0 34 40 35 0 36 2 37 0 38 47 39 0 40 0 41 0 42 0 43 0 44 0 45 79 46 0 47 50 48 21 49 28 50 37 51 740 52 8 53 0 54 0 54 0 56 0 57 0 58 0 59 0 60 0 61 0 62 0 63 0 64 10 65 0 66 13 67 40 68 1 69 0 69 0 71 0 72 50 72 36 74 0 74 4 76 0 77 0 78 0 79 1 80 51 81 0 81 0 81 0 84 0 85 224 86 9 86 0 86 0 89 39 90 4 91 0 91 0 91 0 94 5 95 411 96 0 97 0 98 0 99 9 100 0 101 0 102 4 103 3 103 0 105 81 106 0 107 19 108 0 109 6 110 0 111 0 112 10 113 0 114 70 115 0 116 0 117 0 118 0 119 0 120 9 121 0 122 0 123 0 124 1 125 26 125 0 127 0 128 9 129 0 130 0 131 0 132 0 133 0 133 0 133 4 133 26 137 1 138 42 138 0 138 0 141 0 142 0 142 2 144 0 145 5 146 1 147 4 148 5 149 152 149 0 149 0 152 218 153 6 153 0 155 0 156 0 157 38 157 0 159 0 159 0 161 0 162 4 163 0 164 0 164 0 166 0 167 3 168 0 169 0 170 0 171 60 172 0 173 0 173 0 175 0 176 27 177 0 177 0 179 0 179 0 179 1 182 0 182 5 182 0 185 0 186 0 187 0 188 0 189 0 190 0 191 0 192 0 193 0 194 0

KEY TO RESIDENTIAL BUILDERS ROSTER--The name of each company is followed by its headquarters city and then by its principal officer. Sales figures are given for 1988 and have been confined to residential sales in Kern, Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura counties. Sales projections are for anticipated residential sales in the above-mentioned counties for 1989. The number of units constructed in 1988 includes units completed for sale during 1988 and is broken out by number and percent of each type of unit: single-family homes, apartments and condominiums (including units in planned unit developments). Inventory includes any units completed for sale that were unsold by the end of the accounting period.

NOTES FOR THE 18th ANNUAL SURVEY RESIDENTIAL BUILDING

Note: Ranking based on rounded sales figures. Subtotals may not add to 100% due to computer rounding. Firms with the same 1988 sales volume are ranked in alphabetical order.

* Firm reporting on fiscal-year basis.

** Includes an 80-unit dormitory at Whittier College.

+ The following builders changed their name in 1988: Broadmoor Homes from Broadmoor Homes Southwest Inc.; Calstar Equities Inc. from Calstar Construction Inc.; Campbell Contractors from Campbell General Contractors; Covington Development Group Inc. From Covington Technologies; D&S; Development Corp. from D&S; Co.; J.C.C. Development from J.C.C. Enterprises Inc.; Sumitomo Realty & Development Ca. Inc. from La Solana Corp.; Weston Development Corp. from Weston Communities.

ALPHABETICAL LISTINGS

Following is an alphabetical listing of the building leaders included in The Times’ 18th annual survey, with the rank of each firm. Asterisk indicates a tie in the ranking.

Company Name 1988 Rank Ahmanson Developments Inc. 26 Alamo Homes Inc. 169 Alexander/Catania Development Inc. 145 All Valley Financial Corp. 89 Allred (Douglas) Co. 71 Allwest Development Corp. 159 ++ Alpha Construction Co. Inc. 131 Amir Development Co. 54 ++ A-M Homes 30 Anastasi Construction Co. Inc. 38 Andrew (Michael) Group Inc., The 86 ++ Ann Arbor Homes 192 A R Development Co. 119 Ash Inc. 149 ++ Aziz and Abrams Corp., The 86 ++ Baldwin Co., The 19 Banks Development Corp. 187 Barratt American Inc. 8 Barrinson Development Inc. 144 Baywood Development Group 125 ++ Bowden Development Inc. 153 ++ Bramalea California Inc. 14 Broadmoor Homes 103 ++ Brock (M.J.) & Sons Inc. 4 Buie Corp., The 16 Bulmer (S.H.) & Associates Inc. 171 California Communities Inc. 33 California Community Builders Inc. 133 ++ California Diversified Building Systems Inc. 179 ++ Calmark Development Corp. 27 Calstar Equities Inc. 137 Campbell Contractors 182 ++ C.A.S. Development Corp. 166 Cantwell-Anderson Inc. 141 Cayman Development Co. 44 Century American 61 Century Homes 53 Century West Development Inc. 51 Citation Builders 46 Coast Construction Co. Inc. 99 CoastFed Properties 5 Colonial Construction Co. 189 Columbia Residential Development 79 Concorde Development 133 ++ Construction & Development Systems Inc. 138 ++ Costa Group, The 129 Costain Homes Inc. 69 ++ Covington Development Group Inc. 52 Crusberg (Robert L.) Development Co. Inc. 173 ++ Cunningham-Barisic Develop. Corp. 103 ++ Davidson Communities Inc. 47 Dena Development Inc. 191 Desert Bay Properties Inc. 162 D&J; Development Co. 149 ++ D&S; Development Corp. 80 Egerer (Tom) Development Co. 142 ++ 888 Development Co. 101 EPAC Development 118 Far West Development Inc. 168 Fassberg Construction Co. 86 ++ Fieldstone Co., The 10 First Financial Group Inc. 42 Forecast Mortgage Corp. 49 Forest City Development 40 Franciscan West Developments Inc. 90 Friedman Homes Inc. 74 ++ Frontrunner Homes 167 Fucci Construction Co. 175 GBW Properties Inc. 31 GLENFED Development Corp. 35 Golden State Investments 155 Goldrich & Kest Industries 34 Griffin Homes 18 Grupe Development Co.-Southern California 96 Hampton Development 194 Harlon West Inc. 106 Harris Bros. 41 Heck Enterprises Inc. 172 Heers (John C.) Inc. 105 Hill Williams Development Corp. 112 Hillside Residential Inc. 67 Hix Development Corp. 161 Homestead Group Associates, The 13 Homestead Land Development Corp. 72 ++ IDM Corp. 81 ++ Inco Homes 65 Institutional Property Investor Inc. 91 ++ Iny Development Corp. 157 ++ JBR Development Co. 60 J.C.C. Development 45 Jeffrey Group Inc. 163 Jess Ranch Development Co. 109 JL Construction Co. 85 Johnson (A.E.) Development Inc. 153 ++ Kaufman & Broad Home Corp. 7 Korda Construction Co. 133 ++ Krenz (Ed) Corp. 185 Laguna Pacific Development Corp. 142 ++ Laing (John) Homes (California) Inc. 72 ++ Lan Ron Builders 148 Larwin Co. 36 LDM Development Inc. 121 Leisure Technology Inc. 28 Lencrest Developments Inc. 186 Lewis Homes Group of Cos. 3 Lilco Homes 164 ++ Lincoln Property Co. 24 Lusk Co., The 17 Lycon Group 22 Lyon (William) Co., The 1 MacLeod Development Co. 94 Manning Co. 76 Manuelli & Stratton Inc. 177 ++ Marlborough Development Corp. 32 McClellan Development 115 McComic (R.B.) Inc. 54 ++ McMillin Cos. 12 Morrison Homes-Southern Division 133 ++ New View Development Inc. 164 ++ Newhall Land & Farming Co., The 37 Newport Harbor Builders Inc. 146 Odle & Son Construction 179 ++ Pacer Homes 98 Pacific Landmark Development Corp. 56 Pacific Scene Inc. 62 Pacific World Corp. 122 Pacifica Corp., The 81 ++ Paragon Homes Inc. 21 Pardee Construction Co. 15 Patrick Development Ltd. 110 PDC Housing Group 130 Presley Cos., The 6 Projects West Corp. 116 Quintessence Development Co. 182 ++ Quorum Properties 170 Raider Planning & Construction Inc. 107 Rancho Vista Development Co. 113 Raznick & Sons Inc. 50 Republic Development Co. 108 RGC-Recreactions Group of Cos. 97 Rhoades (J.P.) Development 91 ++ Richmond American 48 Rigney Development Co. Inc. 138 ++ Russell/Packard Development & Construction Inc. 127 RWR Development Inc. 124 S & M Builders Co. Inc. 117 Saddleback Homes Inc. 111 San-T Development Corp. 25 Selby/Fowlkes Partners 81 ++ Selko (Martin) Co. 68 Shea Homes 23 Sierra Bahia Corp. 157 ++ Signature Homes Inc. 58 Sirco Development Inc. 132 Southwest Development Corp. 138 ++ Spielman-Cohen Builders 100 Stratham Group, The 91 ++ Structural Builder’s Inc. 149 ++ Stucker Construction 188 Sumitomo Realty & Develop. CA. Inc. 125 ++ Summerhill Development Co. 102 Sunrise Co. 29 Surfside Development Inc. 95 Talcove & Familian Co. 159 ++ Terra Industries Inc. 156 Thompson (Kathryn G.) Develop. Co. 39 Trider Corp. 147 Unique Construction Inc. 152 Upton Development Corp. 179 ++ Uptown Development Inc. 190 Urban West Communities 9 USA Properties Fund Inc. 120 Van Daele Development Corp. 63 Ved Corp., The 128 Warmington Homes 11 Watt Industries Inc. 2 W.B. Construction 193 Weinstock Construction Corp. 78 Weiss Engineering & Development Co. Inc. 177 ++ West Venture Development Co. 74 ++ Western Captial Development Inc. 176 Western National Properties 43 Western Pacific Development 182 ++ Weston Development Corp. 59 Whitehawk Partnership Inc., The 57 Wilma Pacific Inc. 64 Wilshire West Inc. 123 Wingate Real Estate Investments Inc. 114 Woodcrest Development Inc. 20 Woodview Development Co. Inc. 66 Wurtzel & Fox Investment Co. 77 Yariv Enterprises 84 Zellner Communities Inc. 69 ++ Zentmyer (Gary) Development 173 ++

++ Indicates tie in ranking

SALES INDEX

Index of median sales volume and projected sales volume in Southern California for firms participating in The Times’ 1972-’89 residential building surveys.

Sales Volume Sales Projections (1971=100.0) (1972=100.0) 1971 100.0 1972 100.0 1972 104.3 1973 97.7 1973 97.8 1974 89.8 1974 85.9 1975 78.1 1975 76.1 1976 81.3 1976 105.4 1977 142.2 1977 141.3 1978 156.3 1978 144.6 1979 151.6 1979 144.0 1980 125.0 1980 142.4 1981 125.0 1981 91.3 1982 78.1 1982 80.4 1983 96.1 1983 83.7 1984 140.6 1984 128.3 1985 157.0 1985 196.7* 1986 196.1+ 1986 260.9 1987 213.3 1987 262.1 1988 210.2 1988 321.7 1989 225.8

NOTE: Southern California includes Kern, Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura counties.

* Based on revised sales volume for 1985. + Based on revised sales volume projections for 1986.