Wall Homes (Houston, Dallas, San Antonio: home builders, neighborhoods, buying)

[COmama]

Good morning. My family is planning on moving to Houston soon, and we've seen a few Wall Homes developments. Has anyone had any experience with them? Anything we need to watch out for - be aware of? Thanks.

[bds]

I can tell you this, as a Wall Home owner, this is the best product in this price range. You pay roughly around $150k for a product that looks like a $300k builder. I am very pleased with my home and love the fact that you can change the cookie cutter the way you'd like to. That makes it nice when your in a neighborhood and every house looks different even though there are only a dozen different models to choose from.

Since they are new as far as the company established date, they are really trying to make a name for themselves by doing pretty much whatever the customer wants. But the owner and several top employees have a lot of experience. Have you looked at their press release page on their website? It is very informative, stating who invested in the start up of the company and all major changes since.

They also do a 2 year warranty where all other builders do 1 year. Just keep in mind, no one builds a perfect house, the real question is, do they stand behind their product and deal with the issues, and I must say "yes" to that question. I find things here and there and send the request in and they take care of it.

Hope this information helps.

[sanson1]

Buyer be ware! In July, Wall Homes posted less than 10 net DFW sales. There were 26 active communities during the month; cancellation rates reached a record high of more than 80%. A division of this size should be selling a minimum of 18-20 net homes a week. Although the product is okay, I would be concerned about buying a Wall home as the current internal scrambling to reorganize is a sign of extreme crisis.

Your biggest worry would be a valid warranty. Although Mr. Wall's goal is to build a 100 year company, rumors abound that Warburg Pincus shareholders are unhappy. The reason: Mr. Wall bit off more than he could chew when he bought Newmark's flailing assets in DFW. Since the acquisition, Mr. Wall has fired his Operations VP (okay officially he quit, hmm right....) , downsized several positions and is now reverting to the business model he knows from Choice. The problem? Few, perhaps two to three of his people understand how to run the business this way. In a tough, highly efficient market, inexperience and trial and error cannot compete. If DFW doesn't make it, Houston and San Antonio and Austin won't either. I suggest you look for another builder, it's a buyer's market and lots of inventory on the ground. Choose a builder with a proven track record and longevity. My gut tells me Wall won't make it. Then again, who knows what the future might hold. Good luck.

[AustinDoc]

Originally Posted by sanson1

Buyer be ware! In July, Wall Homes posted less than 10 net DFW sales. There were 26 active communities during the month; cancellation rates reached a record high of more than 80%. A division of this size should be selling a minimum of 18-20 net homes a week. Although the product is okay, I would be concerned about buying a Wall home as the current internal scrambling to reorganize is a sign of extreme crisis.

Your biggest worry would be a valid warranty. Although Mr. Wall's goal is to build a 100 year company, rumors abound that Warburg Pincus shareholders are unhappy. The reason: Mr. Wall bit off more than he could chew when he bought Newmark's flailing assets in DFW. Since the acquisition, Mr. Wall has fired his Operations VP (okay officially he quit, hmm right....) , downsized several positions and is now reverting to the business model he knows from Choice. The problem? Few, perhaps two to three of his people understand how to run the business this way. In a tough, highly efficient market, inexperience and trial and error cannot compete. If DFW doesn't make it, Houston and San Antonio and Austin won't either. I suggest you look for another builder, it's a buyer's market and lots of inventory on the ground. Choose a builder with a proven track record and longevity. My gut tells me Wall won't make it. Then again, who knows what the future might hold. Good luck.

I am moving my practice to San Antonio and have been considering buying from Wall. Can you contact me privately so we can discuss this further? The items you mention are troubling. Thank you for looking out for the consumer.

[Zmehappy]

Originally Posted by COmama

Good morning. My family is planning on moving to Houston soon, and we've seen a few Wall Homes developments. Has anyone had any experience with them? Anything we need to watch out for - be aware of? Thanks.

Both Sanson and Bds had some good input. Do your home work before diving in.

Suggestions for your new home search:

1. Use an online New Home Wish List including all your wants and needs. Provide this to each builder you are getting quotes from. Also, attach the wish list signed and dated by all parties to the final purchase agreement. This will protect you and the builder from discrepancies of verbal agreements which don't hold any water in court. Request that the wish list is referred to in the builder quote.

With today's economy builders are desperate and some times find ways to be the low bidder only to sock it to the buyer after construction has started, which sounds like what you may have ran into. A wish list off all your needs will help to eliminate some of these over runs. The builder that under bids the next builder by $10k isn't always the best choice. It's not the bottom line that the buyer should be looking at!

2. Utilize a Builder Interview and Rating System to choose the builder that best fits your needs. Get references from previous clients of the builder.

3. Check with the local Home Builders Association (HBA) and/or the Better Business Bureau. Ask the HBA if there have been ethics complaints against the builder.

4. Use search engines to check for any postings or news about the builder. You have a good start here.

5. Have a plan that each builder is bidding from. Best approach is to have a plan drawn, but also the most costly if the plan isn't within your budget. Next choice, plans from magazines or online. Once you have the general cost of the home then have a plan drawn. Once the completed plan is finished it may change the price up or down as plans from magazines square footage can fluctuate when put on paper. Many builders include the plan as part of the building process. Plus the builder may have stock plans for you to choose from.

6. Tour the builders homes that are under construction, not just the model homes. For liability purposes the builder will most likely want to bring you on these tours.

7. Check with the local building inspector, many times they can't add their two cents, but some will.

Do your home work in advance, get organized, provide your wishes, protect yourself and GET IT IN WRITING!

Best of luck in your search.

[stevn009]

Although a relatively new 2 year old company, the managment team has well over 100 years experience. Being in the new home industry in Dallas for over 20 years, this company is committed to taking care of their customers and has the most open communication of any homebuilder in DFW. They are committed to doing what they say and back it up more importantly with actions. They will succeed.

[mrkg]

As a salesperson for a competing builder (it's better if I don't say which one) I have a few years experience in the home building industry, and I wouldn't have a problem building a Wall Home. Having driven through some of their neighborhoods and model homes, and spoken with some of their salespeople, I've experienced a very professional attitude and seen a high level of building quality. I might have a more discerning eye than a person from outside the industry, and I can say that I would be very confident building a Wall Home.

[chris_ut]

I was considering looking at a Wall Home but they had the highest cost per sq ft. on their houses than any of the other comparable builders in the area.