I frequently visit Arizona's Department of Real Estate website so I can be aware of any updates or changes coming down the pike. I found this article dated December 19, 2008, itemizing builders and communities that are experiencing problems.
Of particular interest to me is that the Department has itemized each builder, community and status. Note that several are experiencing Mechanic's Liens. Many consumers are not accustomed or familiar with Mechanic's Liens - A Mechanic's Lien means that the builder did not pay the particular plumbing, electrical, or other contractor hired for that home or community. The contractor then files a Mechanic's Lien on the property - thus creating a lien on the property purchased by a new buyer.A few years ago, I was aware of Mechanic's Liens filed on properties in the east valley. The builder walked, and the home owners were stuck with a lien on their home.
Foreclosures, Trustees Sales, Bankruptcies and Suspended Sales, which seem to be self-explanatory round out the status of the builders and their communities. As a Realtor, it is important that I keep apprised of the very latest information available to protect my buyers. I've copied and pasted the actual graphic for the six pages, but you can visit it in person in the article here. I recommend to buyers and/or agents reading this, to keep up with what's going on with the Department of Real Estate so we can be informed! I do not like to put any more negative news out there, but the consumer needs to be aware, that even more than ever, they need to work with a Realtor that is up to date with what is going on!
I love working with new home builders, and many of my sales have been in new home communities. I know most of the reputations of the builders in the Phoenix and Mesa, Arizona area. As in anything else, reputations exist whether good or bad - 'cause the consumer shares the information with all of us.
Hopefully this list will help at least one consumer! Just going to the link that I provided will be useful to a home buyer - that link is constantly updated.
Mesa, Arizona Real Estate. Call me at: 480.216-3334 for information on purchasing or selling a home in Mesa, Arizona or surrounding towns. OR email me: Teri@TeriEllis.com. Feel free to visit one of my websites: HomesAzRE.com, MoveToMesaAz.com or MoveToSunnyAz.com. Or stop by my blogs at: Active Rain; or Phoenix Valley Real Estate Blog
Comments(7)