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longdriver
Dud?


Joined: 02 May 2009
Posts: 5

Inverness
PostPosted: Thu Jun 11, 2009 8:36 pm Reply with quoteBack to top

So do you guys think that there is any possibility that a low end builder would be able to take these lots. My fear is that something is built next to me that is no where close to the same value. Hopefully Village or someone takes these and builds a comparable product to that of the larger lots in the back.
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Xcellent
Dud?


Joined: 07 Jun 2009
Posts: 8

Inverness
PostPosted: Fri Jun 12, 2009 1:38 am Reply with quoteBack to top

for sure as it stands right now those lots sell to builders at about 900.00 per front foot. if they have no builder's willing to pay that - which is likely they will or rather the bank that holds the paper may write them down in price to move them and pay back some of the loan. It all depends on the developer's pockets? It is very common to see this happen and any builder with money is in the driver's seat! Generally, you want you land to be 20% of you total sales price. My guess is the 50' lots will have homes starting in the 140k range and the 65's at 175k the 80's who knows. the good thing is there are not too many lots on the ground towards the back. So it will likely get sold cheap or "moth balled"

Too bad the past mercedes president who was supposed to turn things around based on his extensive knowledge of the Houston market bombed Question it would have been sooo much better w/o all the critcal judgement calls he made. As a competitor it made my job easier. What get me is they had all this stength with the top guy X Meritage then this fellow from Pulte then Beazer...What happened Question
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longdriver
Dud?


Joined: 02 May 2009
Posts: 5

Inverness Estates
PostPosted: Fri Jun 12, 2009 12:32 pm Reply with quoteBack to top

Well I hope that they don't give those lots away. I paid in the 250K range and I don't need some c**p builder with a c**p home moving in next door. With it being this late in the building season I really can't see anything happening real quickly.
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tjasholdem
Flash in the pan


Joined: 03 Mar 2009
Posts: 37

Inverness Estates
PostPosted: Fri Jun 12, 2009 6:09 pm Reply with quoteBack to top

All depends on the banks! There seems to be some return of confidence among the big builders and land is getting bought up. Albeit small amounts but it is happening. Regarding what get's built next to you - ya that's a gamble. I would call the HOA and see what they know. Who is paying the bills there? it looks like the common area is still being maintained well so I hope that is a good sign. I used to interact with 2 previous Mercedes folkes Ron and JC - they seemed to have good intentions with Inverness and wanted to grow Houston in general. I don't know what happened to them? I attended a presentation once where some Dallas people along with the person who replaced someone at Mercedes can't recall who but I didnt get the warm and fuzzies from them! It seemed like a lot of show. I don't think they are even there now?
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Xcellent
Dud?


Joined: 07 Jun 2009
Posts: 8

good community gone bad
PostPosted: Sat Jun 13, 2009 1:49 am Reply with quoteBack to top

you can thank the big brain in Dallas for this foul ball or strike out. They could never get their strategy together! Then the local DP was just too disconnected from it all. I mean he worked from his home. didnt know operations, sales or marketing! Just thought he could muscle his way through Florida and big stu. There is absolutely no reason this should not have worked. They had some great product out there but we could never get it built in Houston. Austin, San An and OF course stu's place all got it first. they disliked Houston and never supported it. Shame on them all the money they wasted and the negative impact on people lives. All while stu remains cool and comfy in Preston hollow. Oh how could I forget the recruits the X DP brought in to save the day - what a house of cards. This company and division arent worthy of a post any longer. The only people hurt are past employees and the home owner's that have no warranty or clear title. WAY TOO GO GUYS!!!! I would be very cautious on those GREAT DEALS in Spring Trails, Inverness, Park Lakes, Sienna Plantation and Alania you better make the contract subject to review and approval of a real estate attorney.
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longdriver
Dud?


Joined: 02 May 2009
Posts: 5

Inverness Estates
PostPosted: Sun Jun 28, 2009 3:26 pm Reply with quoteBack to top

Anyone have any updates? Looks like they are finished with the model/home for sale and the two others are finally getting their brick. Any more info on Village coming back in?
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Cali~girl
Dyn-o-mite!


Joined: 01 Dec 2008
Posts: 370
Location: Texas

Mercedes Homes
PostPosted: Tue Jul 21, 2009 8:20 pm Reply with quoteBack to top

Just in case you thought I was banned, nope!

Have one last thing to say about Mercedes Homes - I don't own one any longer, life goes on!

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TX Homebuilder
Dyn-o-mite!


Joined: 09 Feb 2009
Posts: 276
Location: Houston Metro

Good for Cali Girl
PostPosted: Wed Jul 22, 2009 4:35 pm Reply with quoteBack to top

Cali...congrats on seperating yourself from your Mercedes Home nightmare.

Regardless of the reason why, I think it's like any other bad experience. You entered the relationship with good intentions. The relationship went bad. You tried various ways to fix it. But, in the end you had to decide what was most important to you and your well being. (Been there...done that. That's why my divorce attorney sends me a Christmas card.LOL:<)

It isn't important who was right and wrong. It's just best it's done and gone.

By the way...contrary to a post I made much earlier in the year...I hope you stay in Texas and find the home of your dreams.
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Cali~girl
Dyn-o-mite!


Joined: 01 Dec 2008
Posts: 370
Location: Texas

Re: Good for Cali Girl
PostPosted: Wed Jul 22, 2009 10:27 pm Reply with quoteBack to top

TX Homebuilder wrote:
Cali...congrats on seperating yourself from your Mercedes Home nightmare.

Regardless of the reason why, I think it's like any other bad experience. You entered the relationship with good intentions. The relationship went bad. You tried various ways to fix it. But, in the end you had to decide what was most important to you and your well being. (Been there...done that. That's why my divorce attorney sends me a Christmas card.LOL:<)

It isn't important who was right and wrong. It's just best it's done and gone.

By the way...contrary to a post I made much earlier in the year...I hope you stay in Texas and find the home of your dreams.


Thanks, it does feel good to be out of a nightmare which felt at times, as if I would never wake up!

Loved your comparison to a divorce...(laughing)...that was a good one!

I think, I said in one of my earlier posts, I am half Texan...Now that I am back from California, I not leaving Texas it's now my home!!!

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Triedntrue
Flash in the pan


Joined: 25 Jan 2009
Posts: 79

Welcome Back Cali-Girl
PostPosted: Thu Jul 23, 2009 1:28 am Reply with quoteBack to top

Or should I say Calex-Girl. Glad to hear all is well!!
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