Here is an update of changes since my post last month to the list of homebuilders and specific communities in trouble across the Phoenix real estate market. This information is maintained by the Arizona Department of Real Estate as of January 29th.
Any homebuilder on this list is required by ADRE to place all earnest money and down payments made by home purchasers with a neutral depository (title company).
This list does not take into consideration any homebuilder whose current financial condition and outlook may appear questionable. It takes a specific legal action to get on this list or the ADRE identifies the community as generally in financial trouble.
A couple important points and definitions.
- A Trustee Sale indicates that the community is heading to foreclosure at some set date in the future.
- A Mechanic’s Lien is a lien that a contractor, subcontractor, or supplier has placed on a property or community to guarantee payment for services rendered or materials provided. The Mechanic’s Lien is a legal process by which these providers go about putting a “cloud” on the property’s title until payment is received.
- Chapter 11 Bankruptcy entails bankruptcy protection so that a company may reorganize under the hopes of reemerging from bankruptcy in the future. However, just because a company may reemerge from Chapter 11 this does not mean that that homebuilder will guarantee home warranties of its prior clients or have the same obligations it had prior to declaring bankruptcy. See my story on Trend Homes as an example of what can happen.
Note: Fulton Homes which just announced its filing for Chapter 11 bankruptcy protection is not mentioned here. This could be due to the entity that actually filed Chapter 11 protection is the company that acquires land and actually performs construction of the homes (possibly not tied to any specific community) or that ADRE simply has not yet included Fulton Homes in the list below.
Avondale Real Estate
- Jackson Properties - Estrella Vista at Buckeye, Trustee Sale
- Randall Martin Homes - Roosevelt Park, Trustee Sale
Buckeye Real Estate
- Hacienda Builders - Verrado 3.409, Mechanics Lien
- Hacienda Builders - Tartesso, Unit 2b, Trustee Sale
Carefree
- New - Classic Stellar Homes, Inc. - 1940 E. Thunderbird Road, Suite 105 - Chapter 7 Bankruptcy
Casa Grande Real Estate
- Brown Family Communities - Los Portales, Mechanics Liens
Cave Creek Real Estate
- Village at Surrey Hills, LLC - The Village at Surrey Hills Condo, Foreclosure
Chandler Real Estate
- Brown Family Communities - Markwood Parcel 6, Mechanics Liens
- Brown Family Communities - Markwood Parcel 9A, Mechanics Liens
- Brown Family Communities - Markwood Parcel 8, Mechanics Liens
- Brown Family Communities - Whispering Heights, Mechanics Liens
- Weinstein Communities - Santana Ridge, Trustee Sale
- Randall Martin Homes – Portello, Trustee Sale
- Woodside Homes - Chandler Village, Chapter 11 Bankruptcy
- New - Cornerstone Lone Tree, LLC - Villas at Lone Tree - Mechanics Liens
- New - Vintage Villas Holdings Inc. - Vintage Villas - Trustee Sale
El Mirage Real Estate
- Namwest‐Palms LLC - The 3J’s Country Estates, Chapter 11 Bankruptcy
Gilbert Real Estate
- Lighthouse Land & Development LLC - Avalon Estates, Returned to Lender
- Element Homes - Power Ranch Neighborhood 8, Trustee Sale
- Sunwest/Stratland - Stratland Estates, Chapter 11 Bankruptcy
- Elite Homes - Sun Groves, Trustee Sale
- Randall Martin Homes - Higley Park, Trustee Sale
Glendale Real Estate
- Brown Family Communities - Orangewood Vista Views, Mechanics Liens
- Biltmore Westglen LLC - Westglen Villas - Mechanics Liens
Goodyear Real Estate
- Brown Family Communities - Canyon Trails, Mechanics Liens
- Brown Family Communities - Travis Park, Mechanics Liens
Litchfield Park Real Estate
- Zacher Homes - The Cottages at Palm Valley, Trustee Sale
Maricopa County
- New - Courtland Homes Inc. - Crossriver Unit 1 and Unit 2 - Mechanics Lien
Maricopa Real Estate
- Elite Homes – Tortosa, Trustee Sale
Mesa Real Estate
- Brown Family Communities - Bella Via, Mechanics liens
- Sun River Mesa Condo - Sun River Mesa Condo Tract 5142, Trustee Sale
- Tucscany Villas at Painted Mountain LLC - Tuscany Villas at Patinted Mesa, Trustee Sale
- Lindsay Park Development, LLC - Lindsay Park Townhomes, Trustee Sale
- Randall Martin Homes - Dobson Crossing, Chapter 11 Bankruptcy
- Woodside Homes - Jackrabbit Estates, Chapter 11 Bankruptcy
Peoria Real Estate
- Montalbano Homes – Travata, Mechanics Liens
- Ashton Woods Home - Vistancia Village A Parcel G3 - Mechanics Liens
- Element Homes - Sonoran Mountain Ranch Parcel 10, Sonoran - Trustee Sale
- New - Courtland Homes Inc. - Rock Springs II Phase 1 - Mechanics Lien
Phoenix Real Estate
- Charlevoix - Meridian Hills, Chapter 7 Bankruptcy
- Charlevoix - Buena Vista II, Chapter 7 Bankruptcy
- JJ&T Baseline LLC - Baseline Mountain Ranch, Foreclosure
- Brown Family Communities - Paseo Pointe, Mechanics Liens
- Brown Family Communities - Rogers Ranch Parcel 4, Mechanics Liens
- Brown Family Communities - Rogers Ranch Parcel 8, Mechanics Liens
- PCG‐Savannah, LLC - Savannah, Mechanics Liens
- Cambria Homes - Los Somantos, Trustee Sale
- Hacienda Builders - Cortessa, Trustee Sale
- Ponticello,LLC - Tramonto Parcel #‐1, aka Monticello, Trustee Sale
- V & M Homes, LLC - Roeser Park, Trustee Sale
- Zacher Homes - The Residences on Maryland, Trustee Sale
- Zacher Homes - Residences on Missouri, Trustee Sale
- Earlie Home Sales LLC - Bella Casa Manor, Trustee Sales
- Santa Anna Homes - Tuscano P.C.D. Phase 2 Parcel B, Trustee Sales
- Santa Anna Homes - Tuscano P.C.D. Phase 2 Parcel C, Trustees Sales
- Woodside Homes - Nova Vista, Chapter 11 Bankruptcy
- Destiny Homes Marketing LLC - Mountainside Estates - Chapter 11 Bankruptcy
Pinal County
- Lyle Anderson LLC - Prospector Village at Superstition Foothills, No longer in control of project
- Lyle Anderson LLC - The Casitas at First Water Village, No longer in control of project
- Lyle Anderson LLC - The Club Villas at Superstition Foothills, No longer in control of project
- Brown Family Communities - San Tan Heights Parcel D, Mechanics Liens
- Royce Homes, Phoenix LLC - Dominion Creek, Out of Business
Queen Creek Real Estate
- Elite Homes - San Tan Heights - Trustee Sale
- New - The Jorde Management Group LLC - Ash Creek Estates - Trustee Sale
Scottsdale Real Estate
- Quantum at Troon North - The Ridge at Troon North A Condo, Trustee Sale
- Earlie Home Sales LLC - Cactus Cove at 90th Street, Trustee Sale
- Wijomi Development LLC - Lone Mountain Estates, Trustee Sale
- Turquesa Equestrian Estates, LLC - Turquesa Equestrian Estates - Trustee Sale
Surprise Real Estate
- Brown Family Communities - Greer Ranch Phase I, Mechanics liens
- Brown Family Communities - Greer Ranch Phase II, Mechanics liens
- American Partnership, LLC/Keystone - Desert Oasis of Surprise Parcel B4, Trustee Sale
- Elite Homes - Rancho Silverado, Trustee Sale
- Randall Martin Homes - Marley Park Parcel 1, Trustee Sale
- Engle Homes - Marley Park Parcel 4, Chapter 11 Bankruptcy
Tempe Real Estate
- Woodside Homes - Tempe Village, Chapter 11 Bankruptcy
- Tempe Land Company, LLC - Centerpoint Phase 1 Condominiums - Chapter 11 Bankruptcy
- New - Cornerstone Skyline Ranch LLC - Centerpoint Phase 1 Condominium - Chapter 11 Bankruptcy
Homebuilders or Communities Off the List
The following dropped off the list since the last revision. This is not any indication as to the financial health or presence or lack of presence of any liens but just to recognize companies that don’t currently appear on the ADRE’s list of homebuilders in trouble.
- Tempe - Newberry Terrace Barton LLC - Newberry Terrace, Mechanics Lien
- Phoenix - Maryland Development, LLC - Maryland Manor Condo Phase IV & V, Trustee Sale
- Buckeye - Ashton Woods Home - Verrado 3.204- Mechanics Liens
- Buckeye - Ashton Woods Home - Verrado Parcel 4.501 - Mechanics Liens
- Buckeye - Ashton Woods Home - Verrado Parcel 4.503 - Mechanics Liens
- Buckeye - Ashton Woods Home - Verrado Parcel 4.504 - Mechanics Liens
- Buckeye - Ashton Woods Home - Verrado Parcel 4.602 - Mechanics Liens
- Maricopa County - Engle Homes – Province, Chapter 11 Bankruptcy
- Ashton Woods Home - Marley Park Parcel 1
- Ashton Woods Home - Marley Park Parcel 9
- Gilbert - Ashton Woods Home - Lakeview Trails (North) at Morrison Ranch - Mechanics Liens
- Goodyear - Ashton Woods Home - Coronado Village at Estrella Mountain Parcel 7.7 - Mechanics Liens
- Goodyear - Ashton Woods Home - Estrella Mountain Ranch Parcel 100A - Mechanics Liens
Email this Post
