Kennedy Homes lays off staff

Feb 19, 2008 | Posted by: roboblogger | Full story: Daily Herald

“We have a financial situation but (we) intend on building all our homes under construction”

Another landmark builder of the Northwest suburbs is laying off workers as it struggles to survive the worst housing depression in years. via Daily Herald

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scott

Gurnee, IL

#1 Feb 20, 2008
these people at kennedy homes are good people to work for.ive been doing siding for 17 years and would say these people are one of my fav developers to work for.i predict they will survive.i have been laid off since nov and sure hope this market changes for all my union brothers and our employers.

Since: Feb 08

Rockford, IL

#2 Feb 20, 2008
I wish you, Kennedy Homes, Kimball Hill, and all other home builderst the best.
Jay

Chicago, IL

#3 Feb 20, 2008
I wonder???
I know that some of these builders have homes that are still for sale.
My question...
Is it safe to buy a home from them at this point???
I mean, what prevents them from accepting payment and keeping title of the home or maybe subcontractors have liens agains the homes for non paid wages.
Anyone have info on this??
scott

Gurnee, IL

#4 Feb 21, 2008
i wonder that too.thats a question you should ask your banker or lawyer.you would think that there is someway to protect yourself from that.cant you deposit your money somewhere and they could only get it upon finishing the building of your home without any of these problems.if you have a good banker or mortgage co. wouldnt they be willing to protect you?
Neustoneshire Resident

Galesburg, IL

#5 Feb 21, 2008
As someone who has been through the Neumann Homes bankruptcy fiasco, as long as you purchase title insurance at closing, (which is usually standard) you are protected against any mechanics liens which are filed against your home. They are still a pain though, every time you get one you have to fill out paper work and send them to the title company. I would worry about handing over a large deposit prior to closing. If they do declare banruptcy prior to you closing on your home, it could take many months for you to get your deposit back, if at all. Also, be aware that any warranties that are not through on outside company will probably be null and void if they declare bankruptcy. We had a 1 year warranty through Neumann which is gone with the bankruptcy, our 10 year structural warranty is through an outside company so it is still good. So there are some risks involved, but they may be worth it if the home is a steal.

Since: Feb 08

Rockford, IL

#6 Feb 21, 2008
Iím glad to here that your structural warranty is with an outside company. At the end of the day that is probably better than if it were just the 1yr non structural warranty. It still sucks though. Its like everybody at your work getting a $2,000 bonus but you only getting a $1,000. You are still great full to have something but it would be better to have it all. I heard that some of the Neumann homes that were started are now starting to get worked on again. For those customers, I hope that is true.
jeff

Morgan Hill, CA

#7 Feb 23, 2008
what happening with knnedy hoes in Waterman ,il my wif ad I were thinking of buying a home there theyseem to be very nice homes and big and too expensive . Wdrove b todayand the office was closed did they go bankrupt too?
jeff

Morgan Hill, CA

#8 Feb 23, 2008
sorry not very good on this thing some spelling mistakes Imeant to say Kennedy Homes and that they nice and not too expensive
Jerry

AOL

#9 Feb 24, 2008
I had a Kennedy Home built and lived in for several years. Overall, it was a good experience. The house I now live in (not a Kennedy) is the same age but I've had some expensive problems come up that were a direct result of very poor workmanship by the builder. No builder is perfect, but I now appreciate the respectable work that Kennedy did for me that much more. Best of luck to all the employees and their families at Kennedy Homes getting through this crisis.
Stuck with a Mess

United States

#10 Feb 26, 2008
Kennedy has all but ceased to exist in their Richard's Crossing development in Coal City. We learned that leins are being filed for work dont on the home we purchased late last year. Thank GOD for title insurance. They still haven't sone the work they promised us though and we moved here for a bike path that is supposed to wind around the property...of which there isn't one. The roads have gone to hell with the winter weather and no one is here to give us any answers. What do we do from here? Any advise?
scott

Gurnee, IL

#11 Feb 26, 2008
i have been every where looking for work.i tell you almost every subdivision is like a ghost town for tradesmen.if this continues we are all in trouble.forget about the bike paths and the road and worry about your job and your house because if this continues just about every walk of life is going to feel the pinch.almost every builder wants to do everything as planned but right now i see no clear path.my advise for all these people that are so concerned about whats not done in their developments is to not make the builders look bad because they will not sale any homes.if the builders dont sale homes they go bankrupt and then who knows if everything goes as planned or not.my advice is to hope that kennedy sales some homes and gets on their feet again.also if you decide to sale and their is alot of hype about the problems in your particular subdivision you may decrease the value of your home and or make it hard to sale.and to honest i just want all my union brothers and myself to get back to work so we can finish your subdivisions as planned.

Since: Feb 08

Birmingham, AL

#12 Feb 26, 2008
We found out that the house we were building in richards crossing has liens against it cant get any answers from kennedy luckily we hadnt closed on our original date
Jay

Chicago, IL

#13 Feb 27, 2008
Hello all,
I have some questions for all of you. Here is my story...

I have an appointment to see two Kennedy homes in Richards Crossing. The two homes are a model home and a homes that was built and supposedly the buyer was not able to get financed. Now, after hearing about all the liens and warranty work not being performed, I am at a crossroads. Not at all sure what to do. I love the Coal city area and really like what was being done in Richards Crossing.

Jeff,...
I too was looking at homes in Waterman. I was working with Jose V. He was a really nice person to deal with. When I called to ask him a few questions, I noticed that none of the numbers were working. Than's when I googled and found that they closed all their sales offices and layed off 20 employees. Personally, I did not like waterman. The schools were not kept up. I was shocked that the police and fire station was closed on Sunday @ 11:00am. I said to the wife.. "Is their no crime on Sunday!"

Stuck with a Mess,...
Can you emplain what you mean by "The roads have gone to hell with the winter weather..." I was there last about 2 weeks ago and other them the stalled work on Sprint road and Shirley street, I did not see anything wrong. I also met on my first outing there about 5 weeks ago a guy named Eric who told me he was sending out a petition for a homeowners association. He explained that it was a nice area and that Kennedy was feel the market like most other builders. I am driving out there tomorrow (Thursday) morning to check the neighborhood. I would really like to speak to other homeowners.

Below Ground,...
How did you find out about the Liens??
Who have you spoken to @ Kennedy Builders??

To all, I will be driving out to Richards Crossing tomorrow morning. If any of you see a blue Uplander van arounf 10:00am and wish to wave me down and discuss what's going on, I would like to hear from you.
Chad

Mchenry, IL

#14 Feb 28, 2008
Hello All,
I was a project super the last number of years for Kennedy homes sites up north. I was laid off last May, however I can tell you that out of all the builders that I did work for Kennedy was the best a thousand times over. Kennedy treated all of us like family and really did care about the family's moving into their homes ( I heard this at every weekly production meeting we had). Every builder is facing troubles right now and everthing is going to be a risk. Kennedy on the other hand will do the best they can for any homeowner. I on the otherhand am going overseas to be a field engineer and hope that I can make use of my 85,000 dollars worth of college and hope to wade this thing out. Kennedy is the one homebuilder that I would consider working with again and please do not listen to all the bad hipe about them. They do care and I know this from personal experiance.
RICHARD

Elgin, IL

#15 Feb 28, 2008
I live in a Kennedy Home in Bourbonnais and we have a couple of new homes currently being built and it appears, although I cannot confirm this due to the inclement weather, that the contstruction has stopped. Again I want to emphasize that I do not know why construction has stopped--it may be due to the bad weather here. The other thing I have noticed is that this subdivision has 2 houses that have caught on fire, 4 foreclosures and a handful of abandoned houses which includes houses that were built and never sold, houses where people have moved out and are trying to sell and houses where the ownwers no longer live there.

The houses built here are fine I am just concerned about the foreclosures since I am sure that there will be more. The subdivision currently has about 10% of these foreclosure/abandoned homes.

The other thing I have noticed is that the sales office appears to be closed also, but I cannot confirm this either.

The Village of Bourbonnais is also considering updating the code requirements which states that the first floor of a residential structure has to have at least 1350 square feet wtih a 1350 square foot basement. Also, 50% of the first floor structure must be brick. I am not sure if any of the current Kennedy homes built will be able to meet these requirements since at least 3 sides of the first floor must be brick. The square footage requirements means that only the largest houses will be able to built here.
Stuck with a Mess

United States

#16 Feb 28, 2008
scott wrote:
i have been every where looking for work.i tell you almost every subdivision is like a ghost town for tradesmen.if this continues we are all in trouble.forget about the bike paths and the road and worry about your job and your house because if this continues just about every walk of life is going to feel the pinch.almost every builder wants to do everything as planned but right now i see no clear path.my advise for all these people that are so concerned about whats not done in their developments is to not make the builders look bad because they will not sale any homes.if the builders dont sale homes they go bankrupt and then who knows if everything goes as planned or not.my advice is to hope that kennedy sales some homes and gets on their feet again.also if you decide to sale and their is alot of hype about the problems in your particular subdivision you may decrease the value of your home and or make it hard to sale.and to honest i just want all my union brothers and myself to get back to work so we can finish your subdivisions as planned.
Well let me tell you Mr Union, go get all your brothers and figure out what is wrong with the economy, then report back to me. I agree, no one wants to see a failed development. But I purchased a place that was supposed to have an abundance of amenities (which are incomplete) and now I am the person at a loss. Too bad they don't come redo the road (Spring Road) like they are supposed to do for everyone who travels out here, maybe then your happy a$$ could get to work. My job is secure and just fine but thanks for all your concern anyway.
scott

Gurnee, IL

#17 Feb 29, 2008
stuck with a mess you are right when they fix that road i will probably be back to work.im also glad to hear your job is secure.as for me and my union brothers most of us are not the people to fix the economy but alot of us will be there to make all those problems go away when every thing starts moving again,which i would like as soon as you.
Stuck with a Mess

Springfield, WI

#18 Feb 29, 2008
OK Scott....truce. I hope that you get back at it and I hope that this stuff gets fixed. Trouble is, I have no idea if Kennedy is gonna pull out of it. Step One, get rid of Bush.
RCHomeowner

United States

#19 Mar 3, 2008
Just some comments from a Richard's Crossing homeowner, and a lifelong Coal City resident - Spring Road is messed up as a result of a sewage lift station install worked on this winter. This work was done by a private contractor independant of Kennedy Homes, and I believe the road will be addressed as soon as the weather permits. It's a pain, but I'm not real concerned about it. Also, I heard last week that there was a meeting between Kennedy and some of the contractors, and it looks like headway was made towards finishing homes that are currently in progress.

Unfortunately, there were a lot of promises made up front on Kennedy's end that don't appear like they will be followed up on any time soon (bike path's/park/etc.), but it's hard to get too upset in this economic climate. For the most part Kennedy was good to deal with, and my family is happy with our house. It's a great neighborhood, and hopefully things get back on track for Kennedy soon.

Since: Feb 08

Peoria, IL

#20 Mar 3, 2008
We too were happy with Kennedy with thier customer service and friendly attitude they have bonds to complete all road work so they will be finished. my issue with kennedy is that i kept hearing that they will finish on time there are no problems and a week b efore walk thru i got a call saying it wont be done and have no idea when it will, I like the homes and the neighborhood there are many nice people there i just hope for it to be done with. And i also hope the trades get back to work soon as there are too many people out of work.
Jay,
I saw your uplander out there this morning i didnt have time to stop and talk i ended up meeting an inspector and a trustee from the village and ran out of timme as far as the leins you can call grundy county clerk to check that information.

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