John F. Buchan Homes

Specialty: High-end residential
Principals: John Buchan, chair; Lewis Howard, vice president of marketing and sales
Year founded: 1962
Local office: Bellevue
Largest project in 2002: Highlands at Newcastle

While the commercial market is sagging, business at John F. Buchan Homes has remained steady. This winter and spring, Buchan Homes launches construction on Whistler’s Ridge in Redmond and River Crossing in Mill Creek, as well as Issaquah Highlands and Highlands at Newcastle.

Highlands at Newcastle Phase III will offer 15 homes, Whistler’s Ridge will include 62 and Issaquah Highlands will have 58.

“We’re certainly hitting our target, in terms of the number of homes we want to sell,” said Lewis Howard, vice president of marketing and sales. “For the most part, the economy doesn’t hurt us; our buyers tend to be more affluent.”

There is weakness in sales of homes selling in the mid-$600,000 to $700,000 range, he said. Howard estimated this may be fallout still from the dot-com implosion — Microsoft or other techies whose stock options have shrunk since 2000.

But the homes priced above $800,000 and below $500,000 are still moving well, Howard said. “We pretty much expect to maintain sales, with no substantial jumps or lulls,” he said.

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