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Donald1701
Dud?


Joined: 30 Sep 2008
Posts: 20
Location: Greensboro, NC

Re: They are out of bankruptcy
PostPosted: Tue Sep 08, 2009 5:23 pm Reply with quoteBack to top

So the end of this month will be a year since Portrait Homes stopped building at Robyn's Glen in Greensboro, NC. Anyone know if this new company CB Jeni plans to return to the Triad area of NC?
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dfwbuyer
Dud?


Joined: 23 Dec 2008
Posts: 6
Location: Plano - Frisco

Willow Crest update
PostPosted: Wed Sep 30, 2009 12:18 am Reply with quoteBack to top

Family came back a couple weeks ago - M & D bought a build in their next townhome building, the biggest plan, I think it's called Valencia - really nice. The first build in the new community with CB JENI Homes. Named after the children like someone else mentioned. What a difference several weeks makes after our first visit out there - it is looking super nice again and sales are happening, mostly in their inventory. My Sister is coming back in a few weeks hoping one of the 2-bedrooms is still left as her first choice, if not, she will build also. I'll help make design choices while they come when they can from Calif. They upgraded the standard features for the new builds, and the design allowance is nice. The workmanship is more like a single family product, we were all very impressed. Got to meet the construction manager and reallly liked him alot. We love the salesperson too - this is a small group starting the community back up again, and we are very impressed with their dedication and caring for people. We got to meet two couples that live there who walked in to introduce themselves to her and got to chat with them for awhile. Super nice people who love living there, so that just impressed us more. They were very upset at what happened with Portrait, but said they've been extremely pleased with CB JENI's actions starting up. From what I can gather by what the homeowners said, I don't think Portrait filed bankrupcy? The rumors they heard was that Texas was doing extremely well, and when the other parts of the country were doing poorly, the banks demanded the Texas assets and choked the Texas Portrait operations cashflow. That makes alot more sense to me. I'm just happy to get my family here so we are all close again!!

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mikestrong
Cherry Bomb


Joined: 07 Oct 2008
Posts: 118

Re: Willow Crest update
PostPosted: Sun Oct 11, 2009 5:43 pm Reply with quoteBack to top

dfwbuyer wrote:
Family came back a couple weeks ago - M & D bought a build in their next townhome building, the biggest plan, I think it's called Valencia - really nice. The first build in the new community with CB JENI Homes. Named after the children like someone else mentioned. What a difference several weeks makes after our first visit out there - it is looking super nice again and sales are happening, mostly in their inventory. My Sister is coming back in a few weeks hoping one of the 2-bedrooms is still left as her first choice, if not, she will build also. I'll help make design choices while they come when they can from Calif. They upgraded the standard features for the new builds, and the design allowance is nice. The workmanship is more like a single family product, we were all very impressed. Got to meet the construction manager and reallly liked him alot. We love the salesperson too - this is a small group starting the community back up again, and we are very impressed with their dedication and caring for people. We got to meet two couples that live there who walked in to introduce themselves to her and got to chat with them for awhile. Super nice people who love living there, so that just impressed us more. They were very upset at what happened with Portrait, but said they've been extremely pleased with CB JENI's actions starting up. From what I can gather by what the homeowners said, I don't think Portrait filed bankrupcy? The rumors they heard was that Texas was doing extremely well, and when the other parts of the country were doing poorly, the banks demanded the Texas assets and choked the Texas Portrait operations cashflow. That makes alot more sense to me. I'm just happy to get my family here so we are all close again!!


FYI. They did go under. I think you made a big mistake in taking this chance. There are plently of other builders that you wouldn't have to worry about, but you pick one that could easily go under again. To each is own.
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dfwbuyer
Dud?


Joined: 23 Dec 2008
Posts: 6
Location: Plano - Frisco

Re: Discussion on Pasquinelli Homes
PostPosted: Sat Nov 07, 2009 7:48 pm Reply with quoteBack to top

Hmmm, yeah, realize Portrait "went under" - as in ceasing operations. I can find no records that they have filed bankruptcy - in any of the states they were operating in. Which is why the explanation that some of the homeowner's in WC found out, i.e., that they simply ran out of money, makes sense.

Actually, my family and I are very happy with the choices to buy in Willow Crest with CB JENI. Sis just closed on one of the inventory - the plan she was hoping for. And we did quite extensive searching for this product, built with this same quality, with this type of neighborhood amenities, with a location as unbeatable - for this price point. Quite frankly, it doesn't exist in our minds from what we saw in Carrollton, Plano, Frisco and Allen. There is a close in quality with IMO a tiny bit higher finish out with a builder in shops at Legacy - but astronomical prices to match - no thanks. Willow Crest plans, location, and community amenities are much better, and the quality of construction is very similar. When I was a Realtor, I would never recommend that kind of price point differential - $40-$80K for basically finish out. We found product in a quite a lower PP also - but substantially less finish out and quality. Again, no thanks.

I'd much rather have what I want for a good price, and maybe take a chance on a community that is restarting that was No. 1 at one time. These days, I have more respect for the smaller start-ups I'm seeing out there who impress me alot more than the mammoth big guys who's only concern seems to be volume. guess what? Volume at the expense of quality and personal service is what I'm seeing.

So yeah, to each their own. Thank goodness!!

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houston
Nitroglycerin


Joined: 02 Dec 2008
Posts: 661
Location: Houston, Texas

Re: Discussion on Pasquinelli Homes
PostPosted: Sat Jan 16, 2010 2:57 pm Reply with quoteBack to top

You were right - they never declared bankruptcy. They just closed the door. Their lenders refused to shoulder the risk and Bruno Pasquinelli would not put any more skin in the game.

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Russell Upsomgrubb
Dud?


Joined: 28 Jul 2009
Posts: 2

Re: Discussion on Pasquinelli Homes
PostPosted: Wed Jan 20, 2010 6:19 pm Reply with quoteBack to top

panhead98 wrote:
Russell - shouldn't ALOT of your complaints be directed to the municipal inspectors who allowed this type of quality to be built in the first place? Ductless returns are allowed in MANY Chicago suburbs - it sounds like every other track home builder in that market.


Had an inspector from the village come out initially when I bught the place for another issue unrelated to those I mentioned. Probably some kickbacks going on there. Point is moot, however, since Pasquinelli is bankrupt.
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houston
Nitroglycerin


Joined: 02 Dec 2008
Posts: 661
Location: Houston, Texas

Re: They are out of bankruptcy
PostPosted: Wed Feb 10, 2010 7:13 pm Reply with quoteBack to top

Donald1701 wrote:
So the end of this month will be a year since Portrait Homes stopped building at Robyn's Glen in Greensboro, NC. Anyone know if this new company CB Jeni plans to return to the Triad area of NC?


CB Jeni only builds in Dallas and is owned by Bruno Pasquinelli, Jr. who started the company after his Portrait Homes Division was shut down by the corporate office.

They have no plans to expand to North Carolina at this time.

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