Comments on: Phoenix: Another Homebuilder Closes Their Doors

By: twist

twist — Fri, 31 Oct 2008 01:00:57 +0000

Russ-

I wonder if it was the era. We used to own a 1989 Shea home in Chandler. We used to swear that squares and levels had been banned from the site. The house had “issues”.

By: Russ

Russ — Wed, 29 Oct 2008 16:59:55 +0000

My aunt lives in one of the Dave Brown houses in North Phoenix that she and my uncle bought new in the early 1990s. They found out years later that the attic space was completely uninsulated. As she spoke to others in the same subdivision, it turns out that they neglected to do this in most/possibly all the houses in the small subdivision.

By: hd

hd — Tue, 28 Oct 2008 21:29:12 +0000

Thought this one was intersting too: Pulte founder sells shares to meet margin call

By: twist

twist — Tue, 28 Oct 2008 20:53:51 +0000

HD-

Brown's website is down, but I was able to find it courtesy the "Wayback Machine". In 2007, their website listed communities in Maricopa, Casa Grande and Goodyear- among other Valley locations- all areas that saw big drops in land values.

It's just a rough environment to do business in.

Yes Igor, "collapse" pretty much sums it up.

By: hd

hd — Tue, 28 Oct 2008 20:19:15 +0000

Didn’t they have a large investment in land/houses in Maricopa, AZ? I wonder if they got into land purchases out there after the boom started. It’s interesting to see houses out there where sellers would have been asking, and possibly getting, $200,000+ in 2004 and 2005 are now being listed for $70,000 – $80,000. And they’re still not really moving at these prices…