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Old 08-25-2007, 11:04 PM
 
3 posts, read 12,858 times
Reputation: 10

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We're looking into buying an already completed home in Palm Valley Stage 5 from Lennar Homes. It seems like a decent deal as the home comes standard with granite countertops and stainless steel appliances as well as other upgrades. I've heard some people have had problems with builders and new homes so I wanted to check out opinions on this company and hear other peoples experiences with this company.
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Old 08-12-2008, 12:23 AM
 
32 posts, read 100,897 times
Reputation: 12
Wow - no responses? I'm surprised. We are also looking at a Lennar home, and would appreciate any comments.

This site lists Lennar as close to going under. The Home Builder Implode-O-Meter - tracking the home building industry implosion
Is that true? We are looking at a Lennar home already built. I'm not sure i'd give them any $$ to build a house if they are in bad shape.

What happens to the home warranty if Lennar goes out of business? Any recourse at all? We have a Centex home now (Fox and Jacobs) and they are also listed. Ugh, can any builder be considered "safe" from going under?
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Old 08-12-2008, 08:52 AM
 
Location: SUNNY AZ
4,589 posts, read 12,358,690 times
Reputation: 1843
If Lennar goes under every home builder should expect the same as Lennar is definitly more prestegious than most. We own a Lennar home (2nd home) and we love it.....it's about a year old now and i have not heard anything from then regarding going out of business.....hmm....but, in today's market, I guess anything is possible
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Old 08-12-2008, 09:31 AM
 
682 posts, read 2,388,770 times
Reputation: 342
If I were going to buy a new home, I would wait until after the November election to find out if the referendum passes which will make the builders warranty their construction for 10 years instead of the current 1 year.

Warranty is a big deal to me, especially after reading about all of the problems found with shoddy work and bad soil in the Phoenix metro area. If this passes, the builders are either going to have to build better houses and stand behind them or pack up and leave Arizona.

Lennar is one of the builders, as are many others, building in this area that are hanging on by a string. The sales people are pretty much clueless about the strength of the company, so you don't have a good way to get info unless you read such articles as posted above.

There is also a lot of info on financial strength of homebuilders on the business sites. As always, "Buyer Beware".

altus2006
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Old 08-12-2008, 10:21 AM
 
Location: Goodyear, Arizona
864 posts, read 2,197,987 times
Reputation: 379
We bought a Lennar home Palm Valley Phase 5 in Nov. 2007 and have been very pleased with it. We had a couple of minor problems (vertical blinds with crease, door that would stick) and Lennar fixed them with no problems. Haven't heard of any complaints from our neighbors.
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Old 10-12-2008, 07:44 PM
 
410 posts, read 1,554,172 times
Reputation: 101
To check out complaints on builders to Homeowners for Better Building and Homeowners against Deficient Dwellings. Also google the builder name and words like problems, defects etc. You may want to see a site in regards to Huttopark in Texas and what happened there.
Do your homework carefully and just know if problems arise you may not go to court with your builder, you will have to adhere to a mandatory binding arbitration clasue in your contract.
Good Luck whatever you decide.
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