Slope failure saga in Hills of Rivermist subdivision (San Antonio, Ingram: gated, organic) - Texas (TX) - Page 33 - City-Data Forum

Orincarnia · 03-09-2010, 08:47 AM

really, if the local government stops the building, all it will do is hurt the builders bottom line in the long run. the wall that fell was holding up uncompacted soil. the place where they are continuing to build is limestone.

i believe these home owners should get their own appraisers, reevaluate the homes worth and be given the difference in cash by pulte. if i were a conservative judge, i would find that fair. if i were a home owner in rivermist i would still want them to buy it back, but the compensation would make the drop in value easier to handle. that is the capatilistic way to do it.

majormadmax · 03-09-2010, 08:51 AM

I agree, this is a matter between the homeowners and the builder; the only government involvement should be the judiciary system where the case is heard…

Cheers! M²

scammed1 · 03-09-2010, 06:46 PM

..and I am sure if you were one of the homeowners you would feel the same way, right?
Let me reiterate, P/C was supposed to have a permit to build the wall (cities responsibility) they did not and continued to build.
They trespassed on people's property and w/o permission did work that made a bad situation worse- (law enforcement on that one)
Do you think it would have been between builder and homeowner had those houses tumbled?
City protecting builder in my opinion. This should have been a no brainer, but this is Texas, land of a "law free zone' when it comes to the HBI.
New houses are being built in THAT subdivision. Where else would you have houses sliding down a hill and a builder continuing to build- No where but Texas!

Hoot Owl · 03-10-2010, 04:05 PM

BIG NEWS!!!

Rivermist homeowners to get buyback offer (http://www.mysanantonio.com/business/Centex_makes_buyback_offer.html - broken link)

Centex Homes will offer to buy back 27 homes in a Northwest Side neighborhood and plans to spend $4 million to $5 million to rebuild a massive retaining wall that collapsed Jan. 24.

The buyback offers are being extended to owners of the homes in Rivermist and The Hills of Rivermist where certificates of occupancy were revoked after ground cracked and shifted. Those homeowners have been living in hotels, apartments and rental homes for more than six weeks with limited access to their property, and were facing the prospect of living away from home for an extended time.

More... (http://www.mysanantonio.com/business/Centex_makes_buyback_offer.html - broken link)

RGJ · 03-10-2010, 04:28 PM

Well good for Pulte.....This is gonna cost them 8-10million plus the 4-5million to fix the wall. Guess their attorneys did the math and figured by the time it was all said and done, a buyback won't be near as expensive as litigation....

scuba steve · 03-10-2010, 04:37 PM

They probably also realized that either way they act as a company this case is the sort of material that will make national news and probably textbooks on corporate ethics for years to come. They can either look good like Tylenol did long ago, or be the villain.

Hope they're able to salvage some of the materials and whatnot before the bulldozers arrive. The re-house places would probably enjoy having the almost new windows, doors, cabinets and fixtures.

scammed1 · 03-11-2010, 03:16 AM

I agree with SR Liebowitz. Those homeowners better know what they are signing and almost assuredly the buyback papers will have a shut-up clause it.
But am I reading correctly P/C are not demolishing the houses? They will be fixed and a new retaining wall will be built. Wonder if a disclosure will be given to new homeowners?
I do not believe this is over by any means.

Lee W. · 03-12-2010, 12:32 PM

Some of those houses should be bulldozed now. They're not structurally sound.

scammed1 · 03-12-2010, 04:21 PM

Pulte stock fell-gee, wonder why?
Homeowners that were below the mass of bad houses have problems too.
Cracks, foundations starting to go bad, etc.
What will the city answer to SR Leibotwitz?
They just turned their heads on all this.

huckster · 03-15-2010, 04:56 PM

It will not cost 5-6 million to fix the wall , where on arth did you get that information. It would not have cost that much to develop the entire site.

Quote:

Originally Posted by RGJ

Well good for Pulte.....This is gonna cost them 8-10million plus the 4-5million to fix the wall. Guess their attorneys did the math and figured by the time it was all said and done, a buyback won't be near as expensive as litigation....