Signature Homes

4 BUSINESS VIEW MAGAZINE VOLUME 9, ISSUE 8 S IGNATURE HOMES As things have changed in the industry, they’ve also changed at Signature Homes. Sadly, Wendy passed away a number of years ago. Richard happily retired after serving 45 plus years in the industry (which included the prestigious Silver Nuggets Lifetime Achievement Award from the Southern Nevada Home Builders Association). Just over two years ago, Rick Barron accepted an invitation to join the team as their new President. He is quick to point out that “Richard is still a very active participant in the company, especially in our strategic planning.” Barron proudly states that they are still able to glean sage advice from Richard regularly. He notes, “Richard had the foresight to really be concerned about rising land prices and some of the concerns with lending that led to the crash. He was one of the innovators here locally on build-for-rent as he built his last community of approximately 90 homes as single-family rental homes.” While Signature Homes sold those houses a couple years after they completed building them, they actually just repurchased them – nearly 15 years after first selling them. “The due diligence was pretty straightforward,” Barron states with a chuckle. “We felt comfortable in that we had built the homes and we’ve always looked for value-add opportunities on our rental side. Doing renovation fits well within our construction side, as well.” As the economy shifted, Signature Homes went into hibernation mode on their home building side and dove deeper into building and renovating apartments as they discovered opportunities along the way. “Today we have about 1,200 apartment units that we own and self-manage and we accumulated a number of single family-for-rent homes throughout the Las Vegas valley,” Barron reveals. “When you add those to the 90 homes we repurchased that Richard built, we now have about 180 single family homes-for-rent, too.” President, Rick Barron