Comments on: Woodside Homes files chapter 11 bankruptcy

By: Fulton Homes in Chapter 11 Bankruptcy « Tempe Agent News

Fulton Homes in Chapter 11 Bankruptcy « Tempe Agent News — Wed, 28 Jan 2009 16:53:35 +0000

[...] as they restructure. This filing follows several other builders going either Chapter 11 like Woodside Homes or Chapter 7 as Classic Stellar Homes recently [...]

By: Classic Stellar Homes Files Chapter 7 Bankruptcy « Tempe Agent News

Classic Stellar Homes Files Chapter 7 Bankruptcy « Tempe Agent News — Mon, 19 Jan 2009 05:27:43 +0000

[...] assets to pay off creditors in a priority order. Chapter 11, as is currently the case for Woodside Homes, allows the entity to reorganize and continue business while restructuring dept [...]

By: Rod Rebello

Rod Rebello — Wed, 10 Dec 2008 19:49:58 +0000

Steve, they have been fairly aggressive on pricing so far, and are open to “reasonable” offers. They are about half sold out at this point, and they need to keep momentum especially with the bankruptcy issue hanging over them. I think they will adjust pricing as needed to bring in sales.

The best deals are the spec homes – you can check out the ones they put in the MLS on my RE website Neighborhood Listings page.

By: Steve

Steve — Wed, 10 Dec 2008 19:21:11 +0000

Rod,

Do you anticipate Woodside lowering their prices on the Tempe Village development as it gets closer to completion?

By: Rod Rebello

Rod Rebello — Sun, 07 Dec 2008 18:48:23 +0000

I recently had a chance to visit Tempe Village with a client and found out that in addition to the standard Woodside Homes warranty, they also provide “backup” warranty coverage with a third party warranty company. So if for some reason Woodside is ever unable to continue warranty service, you will have another source of independent warranty support.

By: Rod Rebello

Rod Rebello — Mon, 29 Sep 2008 01:48:36 +0000

Here’s what I got from my Woodside contact:

“It’s business as usual. They reorganized with the Chapter 11. We are still selling, warranting the homes, closing them, etc. (Engle Homes has been in Chapter 11 for a year now and nothing has changed with them either.) Woodside is not going out of business.”

Of course, employees of Woodside are biased to be optimistic. You have to decide if a purchase is worth any risk you may feel is involved with a a builder in this situation. To me, it’s not much different than buying other distressed properties, such as bank-owned homes. The basic question is, are you getting sufficient value for your money?

By: Rod Rebello

Rod Rebello — Sat, 27 Sep 2008 22:15:28 +0000

None at this time. I’ll check with a contact there to see if anything new.

By: Dhruvit Patel

Dhruvit Patel — Sat, 27 Sep 2008 21:44:33 +0000

Any news on the woodside homes bankruptcy? Any updates?

By: List of Arizona homebuilders in financial trouble « Tempe Agent News

List of Arizona homebuilders in financial trouble « Tempe Agent News — Sun, 31 Aug 2008 20:39:41 +0000

[...] 31, 2008 by Rod Rebello With the recent news of the Woodside Homes bankruptcy filing, I thought you may want to be aware of other homebuilders in financial trouble. Here’s a [...]

By: Rod Rebello

Rod Rebello — Fri, 29 Aug 2008 19:54:45 +0000

Thanks Jennifer, I appreciate your advice. I also recommend that anyone considering a purchase from a home builder in bankruptcy consult with legal counsel to fully consider the specific situation and their options.