ANNUAL REPORT 2009

QUITE A YEAR Dear Quadrant Associates, What a great year its been Yes, I mean it. We have done incredible work to reposition the Company for the future. Weve made some hard decisions and said goodbye to some friends and colleagues. Yet, we have sold more homes than any single builder in the State of Washington, and 98 of our customers would do it again. We used this time to innovate, fix, simplify, bolster, save and find another way. Im both refreshed and encouraged by the creativity shown on ev

VISION At Quadrant Homes we are in the business of building the American Dream. We provide more house to more homebuyers for less money than they ever thought possible. To listen to our buyer and provide more square feet for less money, delivering the freedom of choice while fulfilling the expectation of a hasslefree process. We are committed to providing a safe and healthy work environment. We respect and develop our Quadrant Homes team members. We listen to our buyer and pursue cust

BUILDING COMMUNITY Quadrant Homes builds great homes, but were also committed to being an active and meaningful corporate citizen. While Quadrant as a company provides support to charities and nonprofit organizations throughout the Puget Sound, many of our team members also volunteer their personal time at local churches, schools and civic organizations, enabling us to enhance the meaning of community. BUILDING THE AMERICAN DREAM The goal of Seattles Union Gospel Mission is to provide badly nee

2 RAMPATHON This May, Quadrant assisted a 15year old Renton girl confined to a wheelchair by building a ramp to her front door. Over 20 Quadrant Associates and vendor partners collaborated to design and build a beautiful ramp giving her easy entry and exit to and from her home. This is the sixth year we have been involved with Rampathon, a program sponsored by the Master Builders Care Foundation. HOPELINK This November, Quadrant Homes partnered with Hopelink to raise donations for hunger reli

BUILDING COMMUNITY ST. PATRICKS DAY DASH Thanks to Quadrant Homes and other sponsors, thousands of Puget Sound residents literally dashed through the snow at the St. Patricks Day Dash 10k and Fun Run in downtown Seattle. Many of our Quadrant faithful braved the elements and, as always, our hats were hard to miss St. ry ay Hen ricks D Pat nh Wei s ard h Das For the seventh straight year, Quadrant rang in the New Year in style by hosting the New Years at the Needle fireworks celebration. The

4 Quadrant Home Loans participated as a firsttime sponsor of the Toys for Tots Drive during the month of December. A total of 373 new, unwrapped toys were collected by QHL Home Mortgage Consultants at 13 Quadrant locations. These generous gifts will be distributed by the US Marines to children in need throughout the Puget Sound region. Quadrant Associates participated for the eighth consecutive year in the United Way Workplace Campaign, by making generous donations to local nonprofit organizat

BEST COMPANY TO WORK FOR For several years Quadrant has been recognized as one of the best places to work. Whether we enter the latest contest or not, the photos to follow certainly suggest that we belong at the top of the list 40 YEARS You know youre doing something right when youve been around for forty years. Quadrant Homes has been a part of the Pacific Northwest real estate community since the 1960s. For over four decades Quadrant Homes and its predecessor companies have created places for

6 ALL COMPANY MEETINGS The entire Quadrant Homes team gathered for All Company Meetings four times this year to celebrate our success, learn more about company initiatives and, every once in a while GET OUR WIFFLE ON Associates braved near hundreddegree heat at the third annual Synergicnic held in July at Snoqualmies Centennial Park. CHARACTER IS KEY As always, Character remains one of the four cornerstones of the Quadrant Way and the foundation upon which all other aspects of the company is b

MAJOR MILESTONES In a company that leads its industry, a lot happens in one year that might otherwise be overlooked. The following are some of our major milestones that reflect how much we accomplished in 2009. THE QUADRANT IDEA QUOTIENT Q.I.Q. Innovating from where you stand continued to take shape in 2009 with the submissions of IDEA Briefs Investigate, Design, Execute, Adjust. The focus of QIQ is to unlock each Associates potential to create and innovate, uncovering 1,000 small ways to make

8 THE QUADRANT WAY The Quadrant Way represents our most deeply held beliefs and values. It embodies the principles that define us as a unique organization, and that guide how we perform our work and how we treat each other. Each quarter, an Associate or team is chosen as winner of the Quadrant Way Award in one of these four areas Always Safe, Team Synergy, Flawless Execution and Character. Below are the winners for 2009. ALWAYS SAFE 2009.1 2009.2 2009.3 2009.4 CHRIS RILEY SHANA RAY STEVE WATERS

MAJOR MILESTONES LIVING SOUND Quadrant continued its commitment to environmental responsibility with its leadership in sustainable practices through the Living Sound Program. Even more green options and features have been added to our New Home Showrooms, including the Energy Sound and Energy Star packages that help our customers save on their utility bills and benefit the environment through energy conservation. In 2009, 28 of our buyers took advantage of this fantastic program. In addition to o

10 REVIT AND THE HALLMARK COLLECTION To ensure the greatest breadth in marketshare, the Hallmark collection was created to reach the firsttime buyer. Built to offer the most square footage at the lowest price point 1,500 3,400 SF, Hallmark offers two plans in a series with a twocar garage and two plans in the series with a onecar garage. One of the strategies for achieving a lower price point is using a consistent palette of vanities, windows, cabinets and kitchen layouts in all plans. Taking

MAJOR MILESTONES NEW COMMUNITIESDIVISIONS Northwest Landing Hoffman Hill Division 5 DuPont, WA August, 2009 Ridge at McCormick Woods Division 3 Port Orchard, WA September, 2009 Redmond Ridge East Division 5 Redmond, WA December, 2009 We loved our experience with Quadrant and happily refer them to our friends. We are still thrilled about the value and quality. Jeremy and Sheri Silver, The Ridge at McCormick Woods

12 NORTHWEST COMMUNITIES SNOQUALMIE RIDGE Released 25 bonds worth more than 12 million Closed a 5 million land sale to Snoqualmie Valley Hospital Completed construction of a bio solids treatment facility Transferred millions of dollars of plat and infrastructure improvements to the City of Snoqualmie five acre church tract totaling 7 million Entered into purchase contracts for 13acre multifamily tract and NORTHWEST LANDING Opened Hoffman Hill 4.5.2 62 lots to sales in August Released 2

BUILDING THE BRAND We take great care to manage our brand so we retain our competitive advantages, while ensuring that homebuyers understand our value proposition. CAMPAIGNS In March of 2009 we gave homebuyers 16,000 reasons to buy a new Quadrant Home. Marketing launched its new 16K promotional campaign, courtesy of Uncle Sam and Quadrant Homes. Quadrant matched the governments 8,000 homebuyer tax credit with an additional 8,000 for a 16,000 MegaStimulus offer, proving that it really is the bes

14 WEB The Quadrant Homes website continued to bring in big traffic numbers. A number of notable redesigns and enhancements put an emphasis on lead capture and live chat. Community pages were refreshed and given video, large photos and fullcolor community maps. Social media became the fourth highest referrer of traffic to the site in 2009, totaling over 8,500 referrals in only six months. Unique Vistors Pageviews Pages viewed per visit 177,595 1,241,849 4.8 SOCIAL MEDIA Quadrants social medi

KEY MEASURES MILESTONES SAFETY RIR SALES TRAFFIC HOMEBUYERS SOLUTIONS SALES WILLINGNESS TO REFER ACTUAL REFERRAL RATE 0 633 5,762 372 98 32 MARKET PROFILE AVERAGE PRICE PER HOME AVERAGE SF PER HOME OPEN COMMUNITIES SOLDOUT COMMUNITIES MARKETS COUNTIES RANK BY SALES 271,234 2,112 18 5 KING, PIERCE, SNOHOMISH, KITSAP, THURSTON, SKAGIT 1 I am very happy with what Quadrant has done for me and my family. I am very pleased with their service and their professionalism. Ricky and Ruth McCarthy, Northw

16 WHERE WE BUILT Mount Vernon 9 20 SKAGIT HIGHLANDS Oak Harbor 530 Stanwood Arlington Port Townsend 20 101 Marysville BERRYWOODS 525 9 92 Everett PASADERA 526 2 Lake Stevens PASADERA HEIGHTS Snohomish FOXGLOVE MEADOW 2 Mill Creek STENDAHL RIDGE Edmonds Poulsbo Lynnwood 527 9 522 Monroe CASCARA AT THE VILLAGES REDMOND RIDGE EAST 3 101 Redmond 202 520 203 Carnation Seattle THE RIDGE AT MCCORMICK WOODS Bellevue Snoqualmie 18 Port Orchard Burien 16 99 Renton 167 Issaquah

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