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Old 01-08-2008, 08:37 PM
 
77 posts, read 208,467 times
Reputation: 32

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In The Range Of 2oo,ooo To 250,ooo
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Old 01-09-2008, 06:38 AM
 
3,972 posts, read 12,605,780 times
Reputation: 1470
Right now -- none of them. I would, not in a million years, buy a home in a subdivision that wasn't completed -- perhaps you could buy one of the last homes to be built in a subdivision, and be ok.

The last real estate slow down saw builders regularly abandoning half finished projects and selling off the remaining land cheaply and the new owners built less expensive homes. There was a lot less development back then.

This time you really have to worry that a subdivision may not be built out. Definitely don't buy in one where the amentities package isn't complete unless that swim/tennis isn't really that important to you.

If you must have a new home, your safest bet is to buy one that is already completed in a neighborhood that is done or nearly done.
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Old 01-09-2008, 07:02 AM
 
Location: Atlanta
281 posts, read 1,051,629 times
Reputation: 206
I can tell you that DR Horton is managing their subdivisions in Atlanta very carefully. lastminutemom's statement was a bit broad, but almost on the money. This is a very volatile price range as the Atlanta inventory is flooded with houses in this price range. Go with a very large builder that has the cash flow to see them through this time. In my experience in working on the financial side of residential construction, the smart builders saw this coming 2 years ago. Send me a PM with specific names and I can let you know if they have a good reputation.

Signs to watch for in a subdivision...warning signs....tons of inventory and cannot throw up the houses fast enough (sign the builder is living off draw money from their bank)

Tons of construction material and equipment but no workers.

Good luck

Last edited by CreditWitch; 01-09-2008 at 07:02 AM.. Reason: grammer
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Old 02-17-2008, 10:13 PM
 
3 posts, read 15,692 times
Reputation: 11
Default new home builder

what about ryland or silver creek? The latter seems to give you more for the money, but what about quality?
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Old 02-18-2008, 12:28 PM
 
Location: Johns Creek, GA
17,404 posts, read 65,560,365 times
Reputation: 23516
Quote:
Originally Posted by mom636 View Post
what about ryland or silver creek? The latter seems to give you more for the money, but what about quality?
I'm surprised you'd put the two names in the same sentence. Overall, Ryland is a much better builder. A little broader spectrum of price point, and plan choices.
Silver Creek falls into that same catagory as Legacy, Homelife, etc. A lot of sq/ft bang for the buck- but no bells or whistles, and questionable quality.
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Old 02-18-2008, 12:50 PM
 
Location: Triangle, North Carolina
2,819 posts, read 10,369,225 times
Reputation: 1518
Quote:
Originally Posted by mom636 View Post
what about ryland or silver creek? The latter seems to give you more for the money, but what about quality?
YOu will be hard pressed to find a Ryland home in the price range of 200-250k
Ryland builds as sold only and has few inventory homes, only by contract fall through.
I love their homes and quality, but expect to spend north of 250k.
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Old 02-18-2008, 12:52 PM
 
352 posts, read 1,421,397 times
Reputation: 105
Quote:
Originally Posted by lastminutemom View Post
Right now -- none of them. I would, not in a million years, buy a home in a subdivision that wasn't completed -- perhaps you could buy one of the last homes to be built in a subdivision, and be ok.

The last real estate slow down saw builders regularly abandoning half finished projects and selling off the remaining land cheaply and the new owners built less expensive homes. There was a lot less development back then.

This time you really have to worry that a subdivision may not be built out. Definitely don't buy in one where the amentities package isn't complete unless that swim/tennis isn't really that important to you.

If you must have a new home, your safest bet is to buy one that is already completed in a neighborhood that is done or nearly done.
Agree with everything you wrote. Much better bet to buy an older home in an establised neighbourhood in a better location. The house will be better built aswell especially if its 60s or older.
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Old 02-19-2008, 07:13 AM
 
Location: Earth
539 posts, read 2,094,936 times
Reputation: 284
I can tell you which home builder to stay away from.... Scenic Homes. If you would like more info please feel free to contact me.
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Old 02-20-2008, 11:06 PM
 
6 posts, read 24,200 times
Reputation: 12
One sign to look for in selecting a stable builder is if the builder is traded on the NYSE there is probably sufficient financial backing to sustain them through the tough times. Some smaller builders have been foreclosed on and some of the larger builders have sold out to smaller builders. I recently had to do an inspection on a house where the builder had been foreclosed and the bank owned the house. This was last week.
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Old 03-31-2008, 04:44 PM
 
2 posts, read 6,315 times
Reputation: 10
Default DR Horton

What can you tell me about DR Horton? We are considering buying one of their homes in Covington, GA. Comments would be appreciated. They offer an incentive package which I'm confused about.
Thank you.

Quote:
Originally Posted by CreditWitch View Post
I can tell you that DR Horton is managing their subdivisions in Atlanta very carefully. lastminutemom's statement was a bit broad, but almost on the money. This is a very volatile price range as the Atlanta inventory is flooded with houses in this price range. Go with a very large builder that has the cash flow to see them through this time. In my experience in working on the financial side of residential construction, the smart builders saw this coming 2 years ago. Send me a PM with specific names and I can let you know if they have a good reputation.

Signs to watch for in a subdivision...warning signs....tons of inventory and cannot throw up the houses fast enough (sign the builder is living off draw money from their bank)

Tons of construction material and equipment but no workers.

Good luck
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