Changes in Latitude

For nearly 30 years, Raymond Scalero built mid-priced homes in the Fort Myers area under the Oyster Bay Homes banner.

He was building and selling more than 100 homes a year until the housing collapse, when sales dropped to a mere half dozen. But while many builders went out of business, Scalero boldly built a model home in Cape Coral in 2008, the epicenter of the bust, and formed a new homebuilding company called Latitude 26 to target higher-end customers.

The courageous moves paid off. So far this year, Latitude 26 sold 24 new homes, double what it sold in all of 2010. “Everybody says the market has picked up this year, and we've seen it too,” says Robin Scalero, who runs the business with her husband.