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Bannock County hosts public certification of ballot tabulation machines
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On HorizonTV this week, Managing Director Julie Hancock of Camelot Homes shares how a goal to diversify the luxury production home builder s revenue landed on building detached single-family rentals for infill locations.
Camelot Homes found a niche in the luxury Scottsdale, Arizona market, but even that market can go soft. To maintain the builder’s brand, it opened Arcadia Communities, which focuses on single-family rentals.
“We found ourselves being very niche-oriented to high-end luxury,” says Hancock. “We were predominantly a million and a half dollar single-family homes and we realized, as generous and good as that market has been for us, we really felt the need to diversify to cycle protect. One of our long-term strategies for our company is to cycle protect so that if the high end softens, we had something to balance that out and that’s what led us to both doing a custom home remodeling division, which is different than our pr
Camelot Homes
One of Camelot Homes’ strategic challenges has been to find opportunities to diversify its business. For 50 years, the third-generation family-owned and -operated builder in Scottsdale, Ariz., has occupied a high-end luxury market niche by appealing to buyers who don’t want the hassle of a custom build yet want to personalize their home beyond what production builders in the area typically offer or allow. Camelot Homes has successfully attracted and catered to this buyer segment, as reflected in the builder’s high customer-satisfaction rankings from surveys by Eliant Experience Management.
But even the high-end market can soften. To hedge, Camelot started building detached homes on infill lots as small as an acre to rent under a new brand, Arcadia Communities. The first 12 rental homes, featuring a backyard and a garage, were built in 2020 in Phoenix and were rented within 30 days after completion. Managing director Julie Hancock talks more about Camelot’s gr