The other day, I shared a list posted on the website of the Arizona Department of Real Estate of builders having financial difficulties. Today, there were two articles for two separate builders in our Phoenix Valley filing bankruptcy - Chapter 11.....
1. Woodside Homes based out of Utah which have several communities going....one in Mesa, Arizona. The link to that article is from the Salt Lake Tribune. Hopefully Woodside Homes will be able to work itself out of bankruptcy, and sell some homes. I didn't realize they built in so many states. Woodside floorplans have always been some of my favorite.
2. Charlevoix Homes is another builder, and that article is found in the Arizona Republic.
Bottom line, everyone is struggling in this market, though I have see positive signs of our market. These builders, along with others, are finding it difficult to sell their homes. Words to the wise: Make certain that you are informed when purchasing a new home by checking online, or on the Department of Real Estate website for any information you can find on the status of builders in your area.
Mesa, Arizona Real Estate. Call me at: 480.216-3334 for information on purchasing or selling a home in Mesa, Arizona or surrounding towns. OR email me: Teri@TeriEllis.com. Feel free to visit one of my websites: HomesAzRE.com, MoveToMesaAz.com or MoveToSunnyAz.com. Or stop by my blogs at: Active Rain; or Phoenix Valley Real Estate Blog.
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Hi Teri - Unfortunately this is becoming a more and more common theme across the country. Hopefully the economy will turn somewhat after the election.
Bill, you're so right...very unfortunate! We just all have to be very careful. ;-)
Hi Teri,
Excellent advice on this one. Checking the the DRE is something I would imagine very few people would even think about. Truthfully I wouldn't have without your post, THANKS!
Lynda, I think it's becoming more and more of a necessity to be familiar with what is going on out there. ;-)
we have several in our area in huge financial trouble... it is very sad
Thesa, we have so many new home builders here, and it seems as if quite a few are struggling.
Hello Teri, I just forwarded the article about woodside to my husband. He has some of their stock.....Thanks for all of the great info on your post. I would like to add you as an assiciate. :)
Hi Jane, glad this was of help to you. I'd be glad to be an associate; however, I don't add them 'cause I do it wrong. If someone wants to walk me through the how, I'll add you as well...;-)