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Old 03-20-2010, 02:52 PM
 
Location: Charlton, MA
1,384 posts, read 4,383,751 times
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I was surprised to see that Lennar has started building at the Park at West Lake.

The Park at West Lake New Home Community - Cary - Raleigh, North Carolina | Lennar Homes

What sort of reputation does this builder have?
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Old 03-20-2010, 03:38 PM
 
Location: Cary, NC
31,648 posts, read 55,388,070 times
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Quote:
Originally Posted by KellyCrash View Post
I was surprised to see that Lennar has started building at the Park at West Lake.

The Park at West Lake New Home Community - Cary - Raleigh, North Carolina | Lennar Homes

What sort of reputation does this builder have?

Interesting that many of these lots passed through L and L of Raleigh 18 days before Lennar bought them.
I.e., Ownership History - 0377926
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Old 03-20-2010, 04:44 PM
 
616 posts, read 1,265,798 times
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The small custom builders are in a world of hurt. the only companies with money have the pull at the banks for any loan money. Tract builders will be taking over most of the building here for the forbeable future. Weekly and royal oaks are now the only people building here in lakestone village in Fuquay.
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Old 03-20-2010, 07:43 PM
 
Location: North Carolina
93 posts, read 187,593 times
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Quote:
Originally Posted by KellyCrash View Post
I was surprised to see that Lennar has started building at the Park at West Lake.

The Park at West Lake New Home Community - Cary - Raleigh, North Carolina | Lennar Homes

What sort of reputation does this builder have?
That is not good. It seems to be happening to more and more developments. I wonder if anyone has a list of developments which are still only custom builders and if they are still building? I have seen some custom builder developments that seem to be at a stand still. They only build pre-sales, which is pretty slow.
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Old 03-21-2010, 08:16 AM
 
1,843 posts, read 4,097,806 times
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If there has to be a tract builder I'll take Lennar over Pulte/Centex, KB, or many others.
This really should not have a huge effect on the Heritage and Woodlands sections-they are pretty much built out. Just a few lots left in those sections.
It doesn't appear as if L and L are pulling out but they simply don't have the volume to complete the Commons quickly enough for the developer. John Brown has demonstrated a willingness to sell out his local builders before (see Hilliard Forest).
Lennar's price points don't seem to be significantly undercutting the other PAWL builders either. Their model home is already up and it's not exactly a sore thumb-Hardiplank, decent detailing, etc.
I think this is simply a case of Lennar having the resources that L&L didn't, and if it enables the neighborhood to build out that much quicker that's ok. PAWL is far enough along that Lennar can't redefine it at this point.
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Old 03-21-2010, 01:09 PM
 
1,112 posts, read 2,490,432 times
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Quote:
Originally Posted by MikeJaquish View Post
Interesting that many of these lots passed through L and L of Raleigh 18 days before Lennar bought them.
I.e., Ownership History - 0377926
a nice 19% return for L&L for 18 days investment
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