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Old 01-08-2008, 10:11 AM
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Default Building leaving San Antonio
First builder to completely pull out of this market:

MySA.com: Real Estate (broken link)

We looked in some of their neighborhoods and didn't really like the product and lack of 100% brick exteriors. I feel for the folks who bought in communities to now find out they will have a different builder assuming these lots.
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Old 01-08-2008, 10:13 AM
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Well, firstly, it can't be assumed they've pulled out of the market. Second, all this mean is a new (and in my opinion) better builder has entered the market.
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Old 01-08-2008, 10:23 AM
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They have pulled out of many markets. It seems they may be having financial troubles.
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Old 01-08-2008, 10:27 AM
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They're not doing well. Rumors are circling about another one or two closing their doors soon, but I'm not going to perpetuate anything until I know for sure.
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Old 01-08-2008, 10:32 AM
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Saw the title "Building leaving SA"...was wondering just where the BUILDING thought it would be happier!!

Did the building fall in love with another building up in Austin or something?
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Old 01-08-2008, 10:34 AM
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Quote:
Originally Posted by firstclassflyer View Post
Saw the title "Building leaving SA"...was wondering just where the BUILDING thought it would be happier!!

Did the building fall in love with another building up in Austin or something?
I thought the same thing.
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Old 01-08-2008, 10:38 AM
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It's based in florida, so I wouldn't be surprised if they're hurting financially. Seems most of that state is and I can't really say I feel sorry for them and their greedy ways..
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Old 01-08-2008, 10:39 AM
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Haa Haa Firstclass good one.. I didnt catch that!
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Old 01-08-2008, 10:42 AM
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Quote:
Originally Posted by firstclassflyer View Post
Saw the title "Building leaving SA"...was wondering just where the BUILDING thought it would be happier!!

Did the building fall in love with another building up in Austin or something?
Didn't catch it as I typed it and the site won't let me change it...oh well. My bad.
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Old 01-08-2008, 10:46 AM
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Quote:
Originally Posted by kevcrawford View Post
They're not doing well. Rumors are circling about another one or two closing their doors soon, but I'm not going to perpetuate anything until I know for sure.
Are you talking about other builders pulling out of SA? They are all hurting right now. If they can hold out they will do well as SA is poised for continued growth thanks to the local job market and the coming influx of people at Fort Sam over the next few years.

The small builders must really be hurting as it is even harder for them to compete with the big guys. My builder - KB - posted their fourth quarter numbers today and showed a huge loss. Now the top six builders have all posted huge year end losses. Imagine how the little guy must also be hurting. I know that KB has really modified their business model now charging a higher earnest money up front and scaling back their bargain pricing. It looks like they are looking for fewer but more profitable sales. This next year is going to be interesting for all those involved.
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