Uh Oh Stapleton (cheap house, neighborhood, construction)

[formercalifornian]

This is no great surprise. Builders all over the metro area are struggling to stay above water. Stapleton is not immune.

[SheridanL]

1 million dollars for a home in Stapleton...are you serious?!!!!!!!!!!!
I used to cut hair at Stapleton Plaza ( Sophisticuts),,,the homes around there were a little??????????able!!
Good idea to make the old airport ( Stapleton ) an airport again!!!!!!!!!!!!HA!!

[Katarina Witt]

Originally Posted by movementarian

I always thought the Stapleton area would be a good place to build an airport. DIA is starting to show its age. Maybe they can do that if this doesn't work out.

It sure would be more convenient for those of us on the west side of the metro, LOL!

[murof]

let's mow it down, and have a do-over.

[denverian]

Originally Posted by murof

let's mow it down, and have a do-over.

Well, since I live there, and enjoy living there, I'll have to veto that idea

[Noahma]

Originally Posted by steveindenver

Looks like your run of good luck might be ending.

First Forest City puts a stop to spec building; then Forest City hits a rough patch with creditors which remains unresolved.

Then the high dollar Urban Estate auctions start happening and now ...

John Laing homes has closed up shop (for all intents and purposes). No new homes, no completion of homes currently under construction (even those within days) and it looks as if most homes that closed recently also have liens on them. No warranty work, nada.

Let's play a guessing game. I'm guessing McStain goes next followed by Parkwood. I think most people would agree they would love to see KB fold up shop but that seems less likely. They produce trash with better margins than most -- because they produce trash.

Note, I still love the concept that Stapleton offers and suspect they will do much better than other areas in the near, mid and long terms. This sort of things is nothing new in the exurbs of Denver; I was just surprised to see it happen in what has been (and may continue to be) a pocket of appreciating new homes in the urban core.

Also to be fair, John Laing was in my view a good reputable and quality builder. They have no doubt suffered some serious setbacks with their exposire in CA and AZ, and I am surprised that a company which sold for over a billion dollars just a couple years back to the Dubai based Emaar properties would so quickly crumble, but it is a ****ty world out there right now all around.

I would not base the reason they are closing up shop in Stapleton solely on Stapleton, John Laing has several sub-divisions that are selling squat up north, Mcstain has one just off the turnpike they completed the show homes and pulled out.

[Noahma]

Originally Posted by denverian

And seriously, referring to peoples' homes as "trash" is, well, trashy. I know plenty of people who've worked hard to buy a KB home and they don't have issues with them, and they look just fine. You come across as some sort of snob toward people who can "only afford" a $375K house.

I own a KB home, and well..... it is trash, so much so that our HOA is tied up in a lawsuit over construction defects.

[MantaRay]

Originally Posted by movementarian

I always thought the Stapleton area would be a good place to build an airport. DIA is starting to show its age. Maybe they can do that if this doesn't work out.

That's funny!

[denverian]

Originally Posted by Noahma

I would not base the reason they are closing up shop in Stapleton solely on Stapleton, John Laing has several sub-divisions that are selling squat up north, Mcstain has one just off the turnpike they completed the show homes and pulled out.

They build a lot in CA and AZ, where prices are falling much more than here, so that could add to Laing's problems.

[denverian]

Originally Posted by Noahma

I own a KB home, and well..... it is trash, so much so that our HOA is tied up in a lawsuit over construction defects.

I never hear anyone I know complaining about their KBs in Stapleton, and they look nice. But they do have a bad repution, so it must be based on something. I just wouldn't refer to anyone's home as "trash" - seems offensive. What types of problems?