Ryan Homes in trouble? (Charlotte, Belmont: for sale, HOA, relocation company)

[Stokes718]

We have recently become interested in Belmont and began looking at homes in that area. I've always loved the look of Ryan homes so we visited their South Point Ridge community. There were lots of beautiful homes....but many many for sale signs. We saw rows of homes for sale, all right next to each other. There was no sales office and the office phone number went right to voicemail. One of the neighbors told us that people had been trying to call for a few days with no response.
When we came home, we decided to tour the Ryan homes near us. Their number was disconnected.
Is there a problem with Ryan? We checked out Lennar and overheard that some large builders are in trouble.
Are the for sale signs a sign of the economic stress or a community issue?

[jaa1684]

As someone who spent the last year to 18 months looking for our house, I can tell you that many builders are starting to pull out of neighborhoods. I believe Ryan is/has pulled out of several and is concentrating on only several neighborhoods. Unfortunately, I have no specific information for you in regards to Ryan homes.

[rxdiva]

I know times must be tough. I live in a Ryan home in Ayrsley (southwest charlotte). They are still building in this community but are now only selling a much cheaper, downgraded version. Most things that came standard in my home are now upgrades in the new model.

[Patti1042]

Stokes.

I am a realtor, I live in South Point Ridge and am their HOA president. So please feel free to ask any questions that you have.
Ryan homes just pulled out of the model in the neighborhood about 2 weeks ago. The model is listed for sale.
As to the row of homes on SouthRidge that are for sale....they each have their own story as to why they are for sale. A couple are relocations...the families have already moved on and now the relocation company is selling. Others are listed as they need to move for personal reasons.

This is a fantastic neighborhood and I have made many friends here. If you are interested in the neighborhood then don't let the row of homes scare you away as it is not an issue with the community.

Ryan, as well as many other home builders, are having their share of issues and they have restructured their organization and have pulled out of several devolpments. There are only about 6 lots still for sale by Ryan in South Point Ridge. The homes that you saw here are all resales. Hope this helps you some. Best wishes.
Patti

[Stokes718]

Thank you for the advice and info guys! The neighborhood is beautiful and I still love the homes built by Ryan. I am especially impressed by the Belmont school system. Patti, how do you like the area? Any issues with crime?

[ZnGuy]

I heard a Ryan Homes rep say that the company is getting out of the higher end market and positioning itself back into entry level or lower end market.

[blabber]

Ryan Homes just happens to be one of the strongest builders in the country..as far as financial strength. That being said they're constantly dropping and adding communities in Charlotte to try and build momentum. They did well at South Pointe Ridge when times were good but now and for every other builder the sales pace doesn't justify the fixed costs associated with staffing a model, etc. Additionally home prices have fallen to the point where it also doesnt make sense to lose money on every home sale. Its easier just to walk away. Additionally, Ryan Homes doesn't own the models an investor does and now that investor is trying to sell the model. He/She will lose money.

If I lived in SPR, I'd be concerned with who takes their place. After the developer can't sell the lots for what they were selling them to Ryan, they'll probably sell to the highest bidder which may include a starter home builder. I dont know how many lots are remaining out there however. I don't think there are many which may actually benefit the community.

Additionally, Ryan doesn't build specs so many of the for sale signs you see might be from some of the semi-custom builders who purchased some of the larger lots..

Time will tell and I hope we pull through this to prevent such an event from occuring.

[guyfromcharlotte]

Hi everyone,
I work for HVAC company, and we do 100% of HVAC installation on Ryan Homes jobs. As ZnGuy says , Ryan Homes is downgrading and adjusting them selfs for this economic time.
As far as model homes at South Point Ridge, they are trying to cut down on costs. There is onother neighborhood not far away, called Bethesda Oaks, that has a model open, if you are interested.
I can say all good about Ryan Homes because they stay behind there product.

[CouponJack]

Originally Posted by blabber

.

If I lived in SPR, I'd be concerned with who takes their place..

ANY development that loses a builder who did not finish the neighborhood is cause for concern. This is becoming more common nowadays...

Originally Posted by blabber

.Time will tell and I hope we pull through this to prevent such an event from occuring.

Well, we all do....

hopefully, one is not FORCED to sell in this market. In the long term we should be ok....short term (2-4 yrs imo) you better have a strong stomach...

[Patti1042]

There were two builders in this neighborhood. Ryan has built the majority of the homes, and James Custom Builders built a handful too (on clark hill and some on victoria blake). As I stated, there are only about 6 lots remaining that have not been built on.

My children attend the Belmont schools and I just can not say enough about our experiences so far.

Crime...the lieutenant lives in the neighborhood as well as several other officers. I would recommend that you contact the Belmont police department to ask for crime statisics.

I love where I live and do not plan on leaving anytime soon. Hope this helps!!

Originally Posted by Stokes718

Thank you for the advice and info guys! The neighborhood is beautiful and I still love the homes built by Ryan. I am especially impressed by the Belmont school system. Patti, how do you like the area? Any issues with crime?