new home builds (credit, buying, new construction)

[tiffers1982]

Has anyone gotten a new build from the ground up and had it built in less time then quoted? I just signed a contract andw as told it would take 6 months to complete and they cannot guarantee me that it will be close of excrow by nov 30th which is the end date to receive the $8,000 credit. I was wondering baout anyone elses experiences. I am hopeful they can get it done on time, but have heard nightmare stories of them taking longer.

[andrzejn]

most of the nightmare stories happened during 05/06 when they were building like crazy and not enough contractors to do the work. One thing that I do worry about buying a new home is earnest deposit is quite large and who knows if the builder is still going to be in business 6 months down the road.

To me http://www.eastvalleytribune.com/story/134664 (broken link) would be the biggest issue. If you really want to live in that community there are 6 homes already finished or closed to be finished that I would buy before starting new construction.
Another item that I would worry about would be warranty on the house. If they do stay long enough in business to finish your home will they still be in business to do any repairs during warranty period.