TortosaGuy
Posts:660
 | | 05/05/2008 7:07 AM |
 Alert | I saw in another thread about Engle homes that Elite is or was filing for bankruptcy. Anyone able to confirm or deny this? | |
*formerly known as inyrfce2*
Senior Member
Posts: 797
Joined: Dec 2006 | |
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darin45
Posts:145
| | 05/05/2008 7:24 AM |
Alert | oh man I hope not...I know Trend, Lennar and a few others have gone through BK. I wonder how this will affect the Elite homes in the area or if they will continue to build? | |
"...you knew that before you came here"- The 85239.com's stupid answer to every comment" | |
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hendersona
Posts:385
| | 05/05/2008 7:30 AM |
Alert | | I hope not we are due for our 1yr check | | | |
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darin45
Posts:145
| | 05/05/2008 7:31 AM |
Alert | | ours is this month as well.... | |
"...you knew that before you came here"- The 85239.com's stupid answer to every comment" | |
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TortosaGuy
Posts:660
| | 05/05/2008 8:38 PM |
Alert | | ours has been an ongoing one year check for the last month and a half...with some things getting done and others not... | |
*formerly known as inyrfce2*
Senior Member
Posts: 797
Joined: Dec 2006 | |
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STUDGLOVE
Posts:150
| | 05/05/2008 11:19 PM |
Alert | | i have not heard that but it would not shock me. I know that they aren't paying thier bills as some have read on another thread about the liens that were put on my property. I know they were trying to find another bank to back them up financially but if that doesn't happen I would count them as gone. | | | |
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caveman
Posts:998
| | 05/05/2008 11:34 PM |
Alert | | Ok instead of referencing other threads how about you guys bring some real evidence to this one. | | | |
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STUDGLOVE
Posts:150
| | 05/06/2008 9:09 AM |
Alert | | you mean like the 20k in liens filed on MY elite property? I think thats pretty good evidence that they are in trouble. | | | |
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darin45
Posts:145
| | 05/06/2008 9:54 AM |
Alert | here is what Elite told me via email:
There is no truth to the rumor that Elite Communities is filing for bankruptcy. The industry has suffered as a whole and Elite Communities has been forced to deal with the realities that face every builder in the greater Phoenix market. Elite Communities will continue to operate and build and provide warranties for quality homes. Please pass this information on as there are quite a few incorrect rumors being spread about. Thank you for the opportunity to answer your question.
Sincerely,
Scott Holland
Elite Communities | |
"...you knew that before you came here"- The 85239.com's stupid answer to every comment" | |
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caveman
Posts:998
| | 05/06/2008 10:15 AM |
Alert | Posted By STUDGLOVE on 05/06/2008 9:09 AM
you mean like the 20k in liens filed on MY elite property? I think thats pretty good evidence that they are in trouble.
Why are there liens on your property? What is going on with your property? If you would properly explain your situation then perhaps the rest of us would have a better idea of how to judge this whole thing. | | | |
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STUDGLOVE
Posts:150
| | 05/06/2008 11:50 AM |
Alert | | I closed escrow on feb 29th. Elite has not paid the contractors who worked on my house (ex: drywallers, painters, air condtitioning, the door company, the concrete layers). Since they haven't paid their bills, the trades people have put mechanic's liens on the property. It's not only me that this has happened to with Elite. It's anyone who closed with them on a new build recently. Since Elite has no money, anytime they close on a spec home or whatever the title company is using that money to pay off liens that have been placed on previously closed homes, like mine. They may not have filed yet, but I assure you they are very very close. | | | |
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TortosaGuy
Posts:660
| | 05/06/2008 5:11 PM |
Alert | | Caveman....i found the original comment about elite filing was done by leonpotter under the villages at rancho el dorado thread under engle homes....other then that all is speculation at this point...but based on studgloves recent troubles...it wouldnt surprise me if leonpotter is right about elite filing bankruptcy soon | |
*formerly known as inyrfce2*
Senior Member
Posts: 797
Joined: Dec 2006 | |
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mariJOEpa
Posts:13
| | 05/07/2008 6:15 PM |
Alert | I suspect that Elite may be having some sort of financial problems. I noticed no one has been working on the 1 house that they have under construction in my neighborhood for some time now..it is only about 1/2 done. I sometimes go look around marbella as well, because I have no life and I want to see how their infamous $90,000 homes are selling...and it appears that they have stopped work on those homes as well. I noticed the first two on the left when you drive in have been in the "framing" stages for quite some time and there are others that only had the holes dug for the pluming, etc weeks ago that are still in the same status of construction. I'm not home during the day so I don't know if they aren't working on them at all or if they just cut back their workforce a lot.
I would think that this would be a busier time for new homes starts than during the winter as people with children would likely want to move during summer break, but it definately has slowed down since late fal when they lowered the prices... | | | |
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charann
Posts:203
| | 06/26/2008 6:57 PM |
Alert | I dont know if its just my computer, since we have a new one and maybe the website isn't working completely, but the floor plans on Elite are no longer available. one of our friends is buying a home back in PA and i wanted to send her what our included features were cause she asked and sure enough, not one of the floor plans is listed.
I think something is going on with Elite, whether its bankruptcy or just simply slowing down due to the market, something is going on. plus, i can't even remember the last time i saw anyone in the office. on several occasions we walked by and there was a sign in saying, "due to illness please see Marbella". Saw that sign on about 4 occasions.
i guess it's a good thing we got our 1 year warranty stuff done. not sure if anything would have been done at this point. | | | |
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jeeptj02
Posts:97
| | 06/27/2008 4:06 AM |
Alert | | glad i let them keep my deposit! i knew they were fishy when i found out they own maricopa broadband to! | | | |
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TortosaGuy
Posts:660
| | 06/27/2008 6:28 AM |
Alert | yes something is indeed going on...we still have a few things that they did not get done during their warranty work...and the gentlmen from AZ Warranty...said he used to have 12 employees and Emily would answer the phones...well all of the employees are gone and Emily is as well according to what he said though he said he would still try and get the things done that needed to be done....he also said to his knowledge Elite has not sold a new home in the past three months....which I can partially attest too because there are 2 homes on Barcelona lane that have been sitting in the same state of "completeness" for the last 2-3 months...they are both specs now as well....kinda scary what will happen now...thank god most of the things that needed to be addressed were....if worse comes to worse i can do the paint touch ups myself if they never come back to finish this... | |
*formerly known as inyrfce2*
Senior Member
Posts: 797
Joined: Dec 2006 | |
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hendersona
Posts:385
| | 06/27/2008 8:55 AM |
Alert | | thier plans aren't linked anymore but the rest of the site still works?? | | | |
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charann
Posts:203
| | 06/27/2008 12:10 PM |
Alert | We were lucky, we actually contacted them in December for our 1 year in Feb, so in January, most of our stuff got finished and then the rest in Feb. I have seen several homes in Barcelona, you can see where they did the stucco touch ups, but haven't been painted. there is one house by our mailbox that has the stucco stuff on it for a few months now.
I guess it's the market. Its funny, i've seen people come and look at the models a few weeks ago, so you would think, either they would close the models for now or something. I guess that explains why the sales guy isn't always there anymore.
But in general, it's scary for the whole market, just a bit scary, cause this is our builder we're talking about. But i am keeping the faith things will get better eventually.
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STUDGLOVE
Posts:150
| | 06/27/2008 10:54 PM |
Alert | | marbella is the only sales office open anymore and its only fri-sun. They are done building out here. They will finish houses currently under construction and thats it. I talked to the sales lady today. I was told that the empty lots will go to auction. | | | |
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charann
Posts:203
| | 06/28/2008 12:01 AM |
Alert | I have a question and maybe someone can explain this...something I've been wondering about. So, Elite auctions off the available lots...can anyone buy the lots or can only other homebuilders buy them? If we had the money, could we as just ordinary people buy the lots? If so, if we were to buy say, 3 lots next to each other...could we build one huge house or do we have to stick to the floor plans Elite has submitted to the city/county?
if only other builders can buy the lots...do they have to stick to the floorplans or can they change to their own? Example, Pulte decides to buy the lots in Tortosa...they have their own floor plans, but Elite already submitted floorplans for permit approvals...can Pulte then come in, change the remaining floorplans on the remaining lots or do they have to stick to what Elite had?
only reason im curious, years ago when we had first looked at homes in Queen Creek, back in like 2003, we found a Centex home we did like, but i think it was guest bathroom we hated and we had asked if we could do other stuff to it (forget what) and remember the sales guy saying, no, that they have to go by the floor prints that was approved by either the city or the county. so, now im just being curious about this.
i did see a sign on the door in Barcelona today, that Marbella is the sales office to visit and that they are only showing models by appointment Friday-Sunday. at least there is a positive thing about having our community only about a quarter full...at least our neighborhood will stay quiet and not have as many problems as other communities. at least that's a positive thing. | | | |
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