Home builders mired in slump

Sleazer Homes, I mean Beazer Homes, got what they had coming to them. If you treat people badly for long enough, people will start treating you badly. You can only balance extremely low pay and high expectations of quality for so long before it all comes crashing down.

There goes the Star with an agenda which is hard to understand. Toll Brothers does not build in our market and Beazer has a horrible reputation amongst realtors. Despite that...they were not down in units. What is up the Star. It is no wonder not many people read the newspaper anymore. I don't...but did receive an email about this negative story.

I find that when a carpenter with 25 years experience can't find a job, it usually means we're heading into a depression. Like when republicans take over the goverment, or a presidential election is near. It appears the republicans have busted the economy again.

Beazer Homes, is selling a major part of it's homes to California investment groups. When real homeowners find out how many rental properites are next door to them they will be sick. If you are buying you need to make a very low offer, because they are deeply discounting and you don't want to leave any money on the table.

I work for Beazer Homes and they are down on units sold. The management team is weak in Indy..so much for 2006 in 2006! Way to go Mike!

I built and own a Beazer Home. They were fantanstic and I would reccommend them to anyone! On the contrary, the realtor I worked with highly reccommended Beazer Homes, and I am glad she did!

I just happened to stumble along this forum but thought I would put my two cents in. I do not about Beazer or any of the others; however I took my time in researching. I finally was sold on a Ron James Homes custom home. At first I was price shopping and I came across the McDavid Home company then I found out about there Super Energy Efficient Model. Thats what sold me, and aside from the new fridge needing to be returned... Its been a great experience. Oh and PS: My energy bill for July was under 200.

I am an x-employee of Beazer Homes. Out in the Central West region, it is run on greed! Cusomers and employees are not treated like they should be. Upper management is only concerned about their bonuses. I could not beleive how many unhappy customers Beazer has, UNBELEIVABLE! I would not buy a Beazer Home, I had my chance, and I would not recommend one. Employee or not, the truth is the truth, Shame on Beazer Homes...

Sandy is right LOYAL EMPLOYEE OF BEAZER. I also work for Beazer in Indy and the head management has no idea what they are doing. There is alot of walking around acting high and mighty and games, but no real leadership and trust!

too many expensive homes noone can afford to buy, that are poorly constructed. make better quality homes for less profit, and therefore less cost to the homeowner. maybe use floorplans that don't make use of a "great room"?
companies don't have to jump to "geodesic domes" for new ideas; explore customer service instead

Scott wrote:

I find that when a carpenter with 25 years experience can't find a job, it usually means we're heading into a depression. Like when republicans take over the goverment, or a presidential election is near. It appears the republicans have busted the economy again.

It's going to be tough to frame ANY new construction when it's too wet for foundations to be dug and poured. I don't think the republican president or the democratic majority congress had anything to do with the abundance of rain we're having this year. I am upset that today's home builders aggressively target first time (young) homebuyers that have no business owning a new home that maxes out their income earning ability. Back in the day, young people bought "fixer-uppers" that were more appropriate for their earning ability and built equity to eventually get that new home after years of hard work. There were far fewer forclosures and fewer neighborhoods in decline.

Shelly wrote:

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It's going to be tough to frame ANY new construction when it's too wet for foundations to be dug and poured. I don't think the republican president or the democratic majority congress had anything to do with the abundance of rain we're having this year. I am upset that today's home builders aggressively target first time (young) homebuyers that have no business owning a new home that maxes out their income earning ability. Back in the day, young people bought "fixer-uppers" that were more appropriate for their earning ability and built equity to eventually get that new home after years of hard work. There were far fewer forclosures and fewer neighborhoods in decline.

Yes, it is a shame about all of the foreclosures. It was, and still is the government that was trying to keep the economy going after the stock market bust in 2000. It is the Federal government that insured those risky loans. The builders just jumped on the opportunity, considering that it would be the government taking the loss, not them. Governmental slogans like "Everyone deserves to own their own home", is just as incorrect as "No child left behind". It has a nice ring to it, but it is a fraud. "Not everyone should or does deserves to own a home", and "every child pulled behind" is the truth in the matter.

This is an old story, notice that the Star no longer has it on the web, but it was a national story, not a local. Indianapolis has not experienced the same challenge as the parts of the country that had such huge double digit inflation, that is now correcting.
As to the Indianapolis Beazer management team, they were left over Crossmann managers. Many have been recently dispatched. I left that company years ago, because the Peter Principle was in full force there. Where people were promoted to and past their level of incompetency.

Jim wrote:

This is an old story, notice that the Star no longer has it on the web, but it was a national story, not a local. Indianapolis has not experienced the same challenge as the parts of the country that had such huge double digit inflation, that is now correcting.
As to the Indianapolis Beazer management team, they were left over Crossmann managers. Many have been recently dispatched. I left that company years ago, because the Peter Principle was in full force there. Where people were promoted to and past their level of incompetency.

what? they escaped the recession of the past 7 years? maybe this is just a sign of the housing market's largely unacknowledged housing bubble after all. maybe willow grove's market will tumble soon, and I can afford a house soon, as well.(ignore the locations this board shows; I have a nice proxy)

nobody wrote:

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what? they escaped the recession of the past 7 years? maybe this is just a sign of the housing market's largely unacknowledged housing bubble after all. maybe willow grove's market will tumble soon, and I can afford a house soon, as well.(ignore the locations this board shows; I have a nice proxy)

What recession of the past seven years? Indianapolis and the rest of the Nation has enjoyed nearly the best home market in history over those same years, only last year was a correction seen. In Indy's market we were only off 1% even in the worst of it in 06.

Hey, hey, hey...it's the economy...not their quality...plus Bush must have something to do with it also. Must be this "recession" everyone is talking about. Too many new homes being built and bought...just ran them right into the ground.

Bob

I want to know if beazer is a sczm.I see a lot of quick delivery homes and I was told that meant that the mortgage fell through and the person does not get there money back.They say that they pull your credit and then they approve you, you put down the initial 25,000.00 and then when it comes around to the the final decision and they deny you the loan and keep your money.Has anyone heard of this,because they have my 25 grand.

I think Beazer runs a low class operation here in Indianapolis. I sell about 40 homes per year so I think I have some standing with that comment. My guess is you have the wrong impression. Building contracts usually have a provision that if your financing fails, you get your earnest money back. If you proceeded without a realtor representing you, then you are going to have a more difficult time. Realtors are almost always free to a buyer, so you made a huge error if you wrote the contract unrepresented. Honestly, if a buyer of mine wanted to purchase a Beazer home with me as their realtor, I would make them sign a "hold harmless" against me. They are that bad in Indianapolis.

jackie wrote:

I want to know if beazer is a sczm.I see a lot of quick delivery homes and I was told that meant that the mortgage fell through and the person does not get there money back.They say that they pull your credit and then they approve you, you put down the initial 25,000.00 and then when it comes around to the the final decision and they deny you the loan and keep your money.Has anyone heard of this,because they have my 25 grand.

I have been in the new home industry for 25 years, and worked for Beazer for 15 days after being with a company that was bought out by them. I have heard of some less than scrupulous things in the industry, but never what you described.

I have seen very few who would have put down anywhere near the sum of money you mention, and if someone was putting that much down, it is hard to believe you couldn't get them a loan.

When you see a lot of "quick delivery" homes it can mean a lot of things, it could be the business model a builder uses to carry a large inventory, or it could be caused by interest rates climbing fast and people who did qualify no longer do. However, we haven't seen that recently the rates have been pretty stable.

Sounds like there is more to your story, fill in more details and I will try to answer accordingly.