Homebuilder-Bankruptcy.com

Recent equity research on DR Horton suggested that the stock is over-valued as sales trends in Q2 of 2009 might decline as much as 47%. The problem, as the analyst cited, isn’t that people are not buying homes. Prospective home buyers have gravitated to foreclosures, rather than newly-constructed properties.
It is not merely foreclosures resulting from [...]

The bankruptcy court dismissed the case of EnCap Golf Holdings on Feb 3, 2009. With this dismissal, the secured creditor, Wachovia Bank, can now pursue foreclosure of the properties of the real estate developer. Earlier last year, EnCap Golf filed for bankruptcy to forestall foreclosure action by Wachovia. Wachovia had then begun foreclosure in Jan’08.

There has been escalating conflict between Village Homes of Colorado (which filed for Chapter 11 in Nov’08) and its lenders. See our earlier post – Fight between Lenders and Home Builder Over Short Sales.
The builder has been in a precarious position, given that it is unable to reach an agreement on post-petition financing from existing [...]

Sun River Mesa Condominiums, which filed for Chapter 11 in Jun’08, is the developer of a 150-unit condo complex in Bullhead City, AZ. At the time of bankruptcy, the property consisted of 13 finished townhomes, 6 partially-finished townhouse, 57 partially-finished townhome lots and 64 partially-finished condominium lots.
The “as is” appraisal of the property was $2.55 [...]