Davis Homes Going Bellyup?

If you found this blog post, you are no doubt concerned about Davis Homes going bankrupt.  Read this post, then you must also read the most up to date post about Davis Homes getting homeowers strapped with mechanic's liens.




At this point it is pure rumor and speculation, however, word on the street is that Davis Homes in Indianapolis is going down.  Knowing quite a few people in the industry, the consensus seems to be that Davis Homes is struggling and may be headed towards bankruptcy.  I have heard a few unverified stories about people writing contracts and not having the home started for months.  Supposedly, some of the vendors that deal with Davis homes are on a COD basis and won’t deliver anything until they get paid. 

While I don’t want to spread any untrue rumors, I do think I should let potential homeowners of any possible risk they might fact when entering a contract.  If you are considering building a new Davis home, I would really really do your research and try to talk to some people who have recently signed contracts.  You also may want to consider looking at other Indianapolis new homes. 

Date: 2007-11-12 08:16:23
Views: 4231

Comments

Sam Chapman

Seeing lenders go down is no surprise. I've been wondering about builders. Some of the high end custom builders in Austin have me curious. The high end isn't moving well and I wonder how long some of these guys can hang on.

Mike Taylor

If Davis goes down here, this will be the second major builder within a year. Honestly, I really think this would be good for the area. Less builders = less competition. Builders over-saturating the market with a glut of new homes and crazy incentives are a major factor to our current market conditions.

Sam Chapman

I can't find an rss feed on your blog. Do you have one?

Mike Taylor

Sam -
I do have one, it can be found here: http://www.indyrebaterealestate.com/blog/mike-taylor/rss/
I just haven't installed the button yet.

Richard

There are sooooo many builders going out of business in our area, its crazy. However, its great for our buyer clients

Bill Gibbons

Builders in the Destin Florida area are have a very tough time. The real story here is the condo glut. Also, 2004-2005 real estate buyers are now using short sales to get out of properties that they cannot afford.
However, in about one year the market will be severely over corrected and provide a tremendous buying opportunity. After all many of these are a waterfront and beachfront properties.

TNJ

I have heard many rumors about Indianapolis Builders many of which have come and gone throughout the year. The biggest one that I keep hearing about is Beazer!

carolyn stump

We had a deposit on a Davis home at Brighton Knoll and got our money back after after 6 months of excuses from Davis. There has been no new building activity at Brighton Knoll for about 4 months now.

XO

Davis is offically out of business-I live in one of their unfinished neighborhoods- and all the signs have been pulled and the offices cleaned out.