Yikes, times continue to be rough in the real estate market, especially for new home builders & lenders.  Yesterday another good builder in central Ohio closed its doors for good.  C.V. Perry & Co. has gone out of business due to serious financial troubles.

C.V. Perry & Co. was a good, solid builder that had been around for 60 years.  C.V. Perry “folding up” was not as unexpected as Centex Homes leaving the central Ohio          New Build Housemarket last year.  Centex Homes leaving our market was a total surprise to many people.  I’m pretty confident that C.V. Perry probably won’t be the last builder in central Ohio to call it quits or to be bought out by a competitor.

Hmmm, let me guess, maybe Dominion Homes might be the next fatality.  It seems like Dominion Homes has been hemorrhaging cash forever and has had a “ton” of lending problems  (see additional links below).  If you are new home buyer in this market please make sure you are protected.  You need to make sure you fully understand your builders deposit policy.  Don’t risk losing your deposit money.  Contact a real estate attorney ASAP if you have any questions.  Good Luck!

Additional info:

Dominion 5.9 million in red for 3rd quarter

M/I Homes post 21.7 million 3rd quarter loss

Dominion Homes sales drop nearly 25%

Beazer Homes report weak earnings

HomeBuyer Advocate Mike

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