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NewHomeDallas
Dyn-o-mite!


Joined: 05 Jan 2009
Posts: 404

Re: San Antonio
PostPosted: Mon Mar 14, 2011 6:19 pm Reply with quoteBack to top

mahalo guy:

In the DFW area, LGI bought lots that had been written down and now is building homes at 66% of the former builders. There are other builders doing the same thing.

Go to the sales office and count sold dots on the map. They should sell 70% of the yearly sales in Jan., Feb., March, and April. Ask the sales person how long they have been at the site. If they are new, it's not a good sign.

Remember, that with 300 homes built, the builder is competing with resales. Check with a Realtor or Realtor.com and see how many are listed, especially the same model that you are looking at.

I and Houston Builder aren't trying to kill your dream, just making sure you don't get burned.
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mahalo guy
Demolition Man


Joined: 28 Jun 2008
Posts: 2082
Location: Honolulu

Re: San Antonio
PostPosted: Mon Mar 14, 2011 8:13 pm Reply with quoteBack to top

NewHomeDallas wrote:
mahalo guy:

In the DFW area, LGI bought lots that had been written down and now is building homes at 66% of the former builders. There are other builders doing the same thing.

Go to the sales office and count sold dots on the map. They should sell 70% of the yearly sales in Jan., Feb., March, and April. Ask the sales person how long they have been at the site. If they are new, it's not a good sign.

Remember, that with 300 homes built, the builder is competing with resales. Check with a Realtor or Realtor.com and see how many are listed, especially the same model that you are looking at.

I and Houston Builder aren't trying to kill your dream, just making sure you don't get burned.


And, I understand, and thank both of you. Thank God I'm not a first time home buyer. There are only a handful of resales. The developer has been at the sight for 6 years, not sure how long the sales person has been there.

I expressed my concerns to the sales person. She said there is nothing to stop them from walking or selling the remaining lots. She did say that they bought this phase's land 1.5 years ago and have 45 more to build. She did not see the nuclear option as being likely. She also stated they are looking to buy more land near or in the site.
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