Posts tagged The first builder “transition”

The first significant builder “transition” in Charlottesville

Wade Builders, Inc. will be transitioning their company from a predominately Residential Retail Home Builder to a Property Management Business during the remainder of 2007 and throughout 2008….  Wade Builder will perform on all contracts, warranties and deliver the quality construction we have come to expect.And – Courteney Stuart has an excellent cover article about Wade’s transition in today’sHooK.Indeed, in recent days, several other local builders acknowledged they’ve had to cut their own workforce and that in the upcoming year they expect to build about half the number of houses they’ve completed in other years.  Mike Gaffney, of Gaffney Homes, says he’s cut his staff by about half and is discounting some of his existing inventory and converting others to lease-purchase options.  Church Hill Homes has cut staff and plans to build about 50 homes this year, down from 80 annually in recent years.How long before buyers (and good Buyers’ Agents) start asking for financial proof that the builders will be in existence long enough to service their warranties?

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