D.R. Horton Creekview community in Cedar Park

[missudpat]

The FTC has documented D R Horton's mortgage fraud/predatory lending in 17 states. JD Powers has documented that D R Horton customer satisfaction ratings regarding construction quality and warranty are in the bottom 25% throughout the nation. Just the undeniable facts that the "building issues" are very, very widespread.

[ForeverTexan]

My sister has lived in Creekview for approx. 1 1/2 years and seems to really enjoy living there. I am happy to ask her any specific questions about the neighborhood that you may have, so feel free to message me.

Regarding her D R Horton home... It was inspected twice - once before closing and once before living there a year - and the inspectors (from two different companies) did not find anything concerning. I am happy to ask her for more specifics on this, if you are interested.

[JanetAhmad]

missud:
I don't understand why you would recommend Centex/Pulte or any builder for that matter, especially in Texas where builders are totally unregulated. Understand homebuilders are not licensed. While there are some good builder recommending any is very unwise.
As for relying on JD Powers or even the BBB; imagine that the notorious KB Home is often named by JD Powers as the #1 Builder in Texas. What does that say about all the other builders, which includes DR Horton, who use JD Powers as a marketing service? The BBB gives builders high marks as well. Builders pay a lot for thir marketing services.

[hound 109]

Originally Posted by missudpat

The FTC has documented D R Horton's mortgage fraud/predatory lending in 17 states. JD Powers has documented that D R Horton customer satisfaction ratings regarding construction quality and warranty are in the bottom 25% throughout the nation. Just the undeniable facts that the "building issues" are very, very widespread.

I don't know squat about how well a DR Horton home is built....but the statement above concerns me (& should concern anyone who buys a DR Horton home or lives near one of their communities). These national builders who have their own in house mortgage companies have created much of the problems going on nationwide in the real estate industry.

The in-house mortgage companies (who the little first time buyer is coerced to use) have two goals...to make money & to get fannies into homes. When people put little or -0- down & get a home with 6% real estate commision built in & 10K of "upgrades", the little new home buyer has 15-20K in fluff or air in the home the day they move in. If the market tilts just a little....or if someone loses their job or has to move & are unable to sell (because they're under water).....they'll walk. The result is deflating values throughout the immediate & surrounding neighborhoods.

DR Horton isn't the only national builder who has in house mortgage companies & affiliated title companies, but they are one of the largest. & I agree that there are probably building/financial/mortgage issues with ALL the national builders (even the high end ones).

Personally, I wouldn't buy a home in a neighborhood where the significant builders have in-house mortgage companies (especially if the feds continue to subsidize -0- or 3% down mortgages). Even if my selected builder didn't have one.... if the builder down the street has an in house mtg. company then I'd be affected. If the economy or real estate market tumbles just a little...those communities will be the first to see higher foreclosure rates & significant asset deterioration. But then again in this market, there's no way i would buy in ANY new home development.

Finally, i don't get why people are giving misud a hard time for posting information on DR Horton. I agree that all builders (for the most part) suck....but the OP asked specifically about DR Horton & misud responded with info on that company. I hope when someone asks about Pulte or Perry or some other crap track home builder.... that mis ud or someone else provides data for all of us to chew on.

[sxrckr]

Originally Posted by FalconheadWest

As for actual resale values, I hope your Realtor is explaining things to you.

Question.. Is it being recommended to not buy in new communities right now still being built (not just this one, but any)? Where will the resale values be on these new communities, in 5-7 years from now?

[FalconheadWest]

Originally Posted by sxrckr

Question.. Is it being recommended to not buy in new communities right now still being built (not just this one, but any)? Where will the resale values be on these new communities, in 5-7 years from now?

From my experience, it's best to buy into a neighborhood at the very beginning and at the very end. At the beginning, the builders are adding equity for you by raising their prices every quarter. If you plan on being in a home for 5+ years, this is great.

Also, at the end during the close-out sales, sometimes they're giving houses away just to get out of the community. That might be 3 years into that community, or it might be 5 years.

I'm in Falconhead West. Falconhead started in 2002-2003. They are still building brand new homes in that section, but their initial buying prices were much lower than what they're selling for now. Falconhead West builders just opened phase 2 and they're selling like hotcakes. They're not deep discounting to sell those, and when they're done, my house will have tons of equity!

Just my professional opinion, and others have other opinions.