Brown Family Homes closes its doors
October 30th, 2008 categories: Home Buyers, Home Sellers, Real Estate News
Home-builder Dave Brown of Brown Family Communities announced on Monday that he was forced to closed his doors because his lenders called his outstanding loans due and payable.
Brown has been a home builder in the Phoenix Metro area since 1975 and expanded to Prescott Valley a few years ago and developed the Pronghorn Ranch subdivision.
One major challenge to home builders in Arizona is that buyers are scarce. “Nothing is selling, and I’m giving away $100,000 to anyone who will buy a house” quoted Brown.
His numbers reflect that. Brown completed and delivered 522 homes for $156 million dollars in 2007, and expected to close only 225 homes this year. Brown Family Communities had their best year in 2006, closing 826 homes.
This leaves many homeowners wondering what to do next. If you own a home built by Brown Family Communities and have questions or problems with your home, contact the Registrar of Contractors. Homeowners have a two year window to file complaints with the state agency. Visit the ROC web site, or visit the ROC office in Prescott located at 240 S. Montezuma St, Suite B. The phone number for that office is 928.445.5710.
We personally did not sell any Brown Family Homes but I only heard good things about Dave Brown and his company. He built a nice looking home and kept the prices affordable. In the past few months, according to our MLS, Brown Family Homes appeared to be selling. I guess it was too little too late.
Sherry and Sue–thank you for your kind words so long ago. I am beginning to enjoy blogging and I love reading your posts–the more posts I read the more ideas I have. Love, Ruth