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Another one bites the dust???

By League City, TX - Worrell Team, REALTORS, GRI, CNE

Real Estate Agent with RE/MAX 1st Class 0542725

March 19, 2009 11:46 AM

Yet another major home builder joins the list to make it 71 Builders that have "Imploded" - this according to www.Builder-Implode.com

This builder seems to be primarily in the Raleigh Durham metro areas... Here's the story:

Anderson Homes (website andersonhomesnc.com), a top 200 home builder in both 2007 and 2006 per builderonline.com closing on around 350 and 300 homes in those years, respectively, has filed for Chapter 11 bankruptcy. The filing is in concert with sister company Vanguard Homes per the Triangle Business Journal...

CLICK HERE FOR COMPLETE STORY

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Also see my previous post to learn all about these builders in financial boiling water... it has the complete list of the first 70 builders in hot water. CLICK HERE

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Thomas R. Martin Broker/Owner ICPM

Investors Choice Property Management - Sacramento, CA

Property Management the way it SHOULD be.

A friend said now was a good time to invest in builder stocks...I don't think so...

Mar 19, 2009 12:12 PM

Lynda Hysong

Connestee Falls Realty - Brevard, NC

Live Where You Play in NC Mountains!

We see a few spec builders in our that unfortunately got caught when the market started to turn. We are not experiencing on the level it is in other parts of the county, but I know we all are feeling the effects in one way or another. Thanks for your post - we have to look at the glass 1/2 full!

Mar 19, 2009 12:13 PM

Joanne O'Donnell

Chic Home Interiors - Oakland, CA

Brian, just one more sad note on the current economy, one more nail in the coffin... But I believe it will soon start to change.

Mar 19, 2009 12:23 PM

Tim and Pam Cash

Crye-Leike (Sango) - Clarksville, TN

Real Estate Professionals - Clarksville TN

Builders are having to make severe concessions in many areas to keep afloat. It is very disheartening when some of the major builders go under. They did not get to that status without years of hard work.

Mar 19, 2009 12:29 PM

Donna Harris

Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com - Austin, TX

Realtor,Mediator,Ombudsman,Property Tax Arbitrator

I just sold off all my builder stocks a couple of weeks ago... lost too much to keep waiting for them to go back up.

Mar 19, 2009 12:56 PM

League City, TX - Worrell Team, REALTORS, GRI, CNE

RE/MAX 1st Class - League City, TX

The good news is that by protecting our buyers, and staying current on the health of these builders, we can help mitigate any further real estate woes. The economy is already on it's way back up. BUT, if we don't do the hard work and research necessary, things won't recover as fast as they could. We unfortunately have to let the dying companies die... otherwise, they will only take down our client's earnest money in the process and further spread bad news. Surprisingly in my area, sales are great!! It seems to be only national builders that are having more problems than the local ones... also, for some of the national builders, their sales in Texas may be helping to keep them stable whereas in other states they may be suffering some losses.

Mar 22, 2009 04:22 PM

Another one bites the dust???

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