'07 Parade fails to make a sale

Lack of interest in five homes hints at high-end market woes in suburbs

By John Rebchook, Rocky Mountain News (Contact)

Wednesday, April 16, 2008

George Kochaniec Jr. / The Rocky

A Remarc-built home, right, at 27371 E. Lakeview Drive is in foreclosure. The Hollyberry-built home next door, 27351 E. Lakeview Drive, could be in trouble.

Everyone loves a parade.

But maybe not so much if you were one of the five builders in the 2007 Parade of Homes.

The "parade," which featured five display homes in the $2 million range in Southshore near Aurora Reservoir, illustrates the plight of the struggling, upper-end market in the suburbs.

More than six months after the end of the parade on Labor Day, none of the five homes has sold. One is in foreclosure. Another is expected to end up there after its builder dissolved his construction company.

On April 7, Remarc Homes put its 7,200-square-foot home called Celebrations into foreclosure, according to public records.

Remarc initially borrowed $1.182 million at a 9.25 percent interest rate and now owes Steele Street State Bank $1.232 million, according to records.

"I'm not sure I want to be advertising to the public right now" that the home is in the initial stages of foreclosure, said Debbie Cramer, an owner of Remarc.

She said the foreclosure is a result of liens filed by vendors, and she expects the home either to be sold or the disputes settled before the sale, allowing it to emerge from foreclosure.

The home, which features a "woman's getaway space - a place for solitude, renaissance and peace," according to advertisement literature, is on the market for $1.825 million.

Cramer attributed the sluggish sales activity to a number of factors.

"I think the land was a little overpriced," she said. "We all had appraisals that said it could support homes of over $2 million."

The collapse of the subprime market also was a big part of the problem, she said.

"Obviously, the clientele for these homes weren't affected. But people below these buyers couldn't sell their homes, in order to move up," Cramer said. "It was a reverse-domino effect."

Ever since the "whole mortgage mess, it's been real hard to sell homes," Cramer added. "People are real skeptical, and the media has been playing it up like it is the end of the world - when it isn't."

Faun Hauptman is listing the Boat House next door for $2.2 million, down from the original asking price of $2.4 million. The 7,189-square-foot house, which includes a backyard swimming pool with a three-tier gazebo towering over it, was built by Hollyberry Homes.

Kevin Albright, principal of Hollyberry, dissolved the company Jan. 16, according to public records. All of Albright's previous phone numbers have been disconnected and his Web page has been taken down, though records still list Hollyberry as the owner.

Hauptman of West 5280 Sotheby International Realty said she has wondered whether the home was going into foreclosure. But the last time she spoke to Albright, he said it had not been taken back by the lender.

A "combination of things," has hampered sales at last year's parade, Hauptman said. "The overall market has been very challenging. I think in the past two years we have seen more a trend of moving closer to the city center, not away from it. And it is possible that this part of town has become overbuilt. This is an area that is competing with all of the high-transaction dollar homes in more traditional areas, such as Cherry Creek in Denver and Cherry Hills in the suburbs."

The appeal of Southshore is "that it is on beautiful lake-front property that is very rare in the metro area," Hauptman said. "We need that very specific buyer who wants to be on a lake."

Wayde Jester, consulting director for Metrostudy, a Houston- based realty-research firm that has been tracking the Denver area for seven years, said the problem "may be one of simple supply and demand. There's been a lot of building out there. If someone wants to invest $2 million in a home, it might not be southeast Aurora for most people."

Also, Parade of Homes often do more for the entire community where they are held, than for the individual parade homes, Jester said. "Sometimes builders' egos get caught up in the parade home, and they get carried away."

Byron Koste, director of the CU Real Estate Center, agreed.

"Quite often in a parade, a builder wants to make a statement, and they're inclined to overbuild for that specific neighborhood. "If home prices keep going up, that's usually not too bad. But when prices are moving in the other direction, the difference is magnified."

"Unfortunately, in difficult times like these, people can't afford excesses," Koste added. "And some of these homes might be what you would consider to be excessive."

This is not the first time parade homes have run into trouble. At the 2002 Parade of Homes in Castle Rock, two homes faced foreclosure in the sluggish sales in the wake of the 9/11 terrorist attacks and the high-tech collapse that cost the area about 70,000 high-paying jobs.

That also was the first year of the current foreclosure crisis. In 2002, there were 6,574 foreclosures, 55.7 percent more than the 4,222 in 2001.

There were 7,459 foreclosures in the seven-county area in the first quarter this year and a record 26,326 foreclosure filings in 2007.

The 2008 Parade of Homes will be held at Solterra, a 280-acre development along Alameda Parkway at the western edge of Lakewood.

rebchookj@RockyMountainNews.com or 303-954-5207

On the edge

The Boat House

* Price: $2.2 million

* Builder: Hollyberry Homes

* Square feet: 7,189

With an Eastern seaboard-style design, the grand entrance reveals views of the Rocky Mountains.

Features a three-story gazebo surrounded by a swim river with a swim-up bar, a second-level outdoor gourmet kitchen and laundry facilities in every room.

In foreclosure

Celebrations

* Price: $1.825 million

* Builder: Remarc Homes

* Square feet: 7,200

Large front-porch verandas on the first and second floors provide shade in the summertime, cutting down on the need for air conditioning.

Special features include a "getaway" space - designed for an art studio, a study or a personal library - and private decks.

The other 2007 Parade of Homes

These three homes are not in foreclosure, but none has sold:

Shore House

* Price: $1.95 million

* Builder: Village Homes

* Architect: Knudson Gloss Architects

* Square feet: 6,168

Designed to emulate a NewEngland coastal-style home, it includes hand-laid wood plank ceilings; a screened porch with sliding-glass walls; a master-suite spa with floor-to-ceiling marble tile; and a lower-level activity room complete with wet bar, walk-in wine cellar and billiard room.

Montauk Point

* Price: $1.9 million

* Builder: Rocky Mountain

Custom Homes Inc.

* Architect: Godden|Sudik

Architects

* Square feet: 6,200

Named for a famous lighthouse on NewYork's Long Island, the two-story, Hamptons-style house features a caterer's kitchen, two-story study with a widow's walk and a spiral staircase that leads from the master bedroom to a spa area complete with a steam shower and massage table.

Trade Winds

* Price: $1.7 million

* Builder: John Laing Homes

* Architect: Woodley Architectural Group

* Square feet: 3,796

The smallest home at the parade, it was designed with open living and dining areas and large sliding-glass doors that open into an expansive outdoor living area. A private seating area adjacent to the master bedroom offers access to a covered balcony with a 270-degree view.

• April 16, 2008

  9:57 p.m.

  Suggest removal

  WarrenJimmyBuffett writes:

  Next year it should be called the "Bankruptcy Parade of Homes." Then, after that, the "Future Home for Squatters Parade of Homes."

• April 17, 2008

  1:19 a.m.

  Suggest removal

  MissSio writes:

  All I know is that when I saw the homes, I thought they were beautiful. But when I saw they were in Aurora I knew they'd have a hell of a time selling. If I had a few million to throw at a house, it would certainly never be in Aurora. Cherry Hills, MAYBE Cherry Creek or Ken Caryl. But Aurora?? No. (Don't get me wrong, I like Aurora well enough, I do live out here... but if I were wealthy I wouldn't.)

• April 17, 2008

  7:15 a.m.

  Suggest removal

  Froward69 writes:

  Nail hit squarely MissSio!

• April 17, 2008

  7:19 a.m.

  Suggest removal

  ham writes:

  Just a guess, but I would say the decision to build million dollar homes within 15' of each other would be the mistake that was made. Whoever decided on the plot layout screwed up. Why in the world would somebody spend that much money so that they could listen to the neighbors talking on their deck?

• April 17, 2008

  7:58 a.m.

  Suggest removal

  Scott writes:

  Maybe they should try building homes that more of us could afford instead of these yuppie mansions.

  Scott

• April 17, 2008

  8:03 a.m.

  Suggest removal

  MrsA100 writes:

  My husband and I are builders and in reading this I see some "rookie" mistakes.

  1. Location location location.

  2. Know your market.

  3. Don't over extend. Pay those venders as the draws come in.

  We have entered 2 homes in the parade this year. Last year we had one. Nothing over a million dollars, that's for sure.

• April 17, 2008

  8:08 a.m.

  Suggest removal

  Spencer writes:

  I've never been to Aurora Reservoir but I could guarantee that if I am going to buy a $2M home it is probably going to be in Evergreen or Genessee. Maybe Castle Rock but certainly not out on the eastern plains.

• April 17, 2008

  8:13 a.m.

  Suggest removal

  HolierThanThou writes:

  Like most regions south and east of Denver, the whole place is an architectural pig sty. Individual buildings may have appealing qualities but overall planning for the area is either not done or performed by trained monkeys.

  There are no transportation options other than driving a private motor vehicle. While there are recreational parks set aside for walking, you're risking life and limb if you dare the unpleasant slog on foot or bicycle to the store. The only rail option is near I-25. The East-West transportation link is perpetually constipated. Traffic in any direction is horrendous, leaving the whole region covered in a toxic brown pall.

  No one who is gifted with the rare combination of money and good sense would choose to live in such a miserable excuse for a neighborhood.

• April 17, 2008

  8:26 a.m.

  Suggest removal

  PMSXpress writes:

  Anyone building on spec should be aware of the risks. And a pretty high pricetag for that area. A buyer with that kind of money to throw around will be looking elsewhere, especially since those houses look like they're right on top of each other... lake or no lake. I think they missed the mark on the market estimation.

• April 17, 2008

  9:14 a.m.

  Suggest removal

  Ztliano writes:

  I live in Aurora and would NEVER spend $2million on a house anywhere in the city, especially by the E-470, why would anyone choose to live by a freeway that would cost you extra to drive on?

• April 17, 2008

  9:16 a.m.

  Suggest removal

  WarrenJimmyBuffett writes:

  Mrs.A100,
  Hopefully, you will try selling your parade homes for negative margins, otherwise you will be out-of-luck. Any monkey can build and sell houses during a 13 year boom. Likewise, anybody who thinks they know more than others during an historic bust will lose their shirt. Remember, that pink home insulation makes stylish coats when it gets cold.

• April 17, 2008

  9:23 a.m.

  Suggest removal

  RainbowWarrior writes:

  Trade Winds; $447.00 per square foot

  Shore House; $316.00 per square foot

  Boat House & Montauk Pt; $306.00 per square foot

  WTF?

  What happen to Built Green and Affordable Housing???

  Owner Built Load Bearing Straw Bale w/solar panels, natural earth plasters, thermal mass passive solar rammed earth flooring, 1350 square feet... $500.00 credit on the books from the electric company, 60 gallons of propane for cooking and domectic hot water when the solar couldn't max out;

  $80.00 per square foot to build!!!

  If you add 12 acres of land in Pagosa Springs, CO and a high tech dousing septic system that puts out near potable water for gardening;

  $129.00 per square foot...

  You people on the front range are a ship of fools floating down the river of no return.

  How very very sad!

• April 17, 2008

  9:25 a.m.

  Suggest removal

  RightOn writes:

  WarrenJimmyBuffett

  I sell between 20-25 a year of my own product, at a profit.

  We don't reap a huge profit on every home. I have 27 crew members who need steady income. Better to take a small profit on 20 homes and keep everyone employed and bills paid than a huge profit on one.

  I see so many "established" builders going out of business because they are greedy. I don't mean to bash any other builders, it's just common sense to build more at a smaller profit.

  My most popular price range is between $500K-$700K. 95% of my clients are over 55.

  These are the people who come in with their financing in place and don't need to sell something first.

  Also, over 80% of my clients are buying 2nd or 3rd homes.

  We just happened to be in the "right" market in a bad time. I feel it's 25% luck and 75% hard work.

• April 17, 2008

  9:29 a.m.

  Suggest removal

  RightOn writes:

  Rainbow Warrior - WOW on those figures.

  Our average is just under about $190psf. Sheesh, no wonder builders can't sell their stuff.

  One other thing Jimmy- I have one home we are listing at under $300K and I am getting less showings on that than my more expensive homes.

• April 17, 2008

  9:30 a.m.

  Suggest removal

  RightOn writes:

  Green build is on average 25% more expensive to build. It's a crock of you know what.

• April 17, 2008

  9:33 a.m.

  Suggest removal

  HRguru writes:

  I live in Southshore and I'm a little disappointed that there are some Aurora residents who enjoy bashing the city. FYI---the neighborhood won national and local awards and was voted 2007 and 2008 community of the year! And I love the neighborhood!!! Such a shame some of you can't take pride in your neighborhoods and cities! The parade homes might be overpriced but the neighborhood itself is really a great place to be!

• April 17, 2008

  9:33 a.m.

  Suggest removal

  jibbons writes:

  How could any millionaires pass up an opportunity to live on the banks of a hole in the mud?

• April 17, 2008

  9:36 a.m.

  Suggest removal

  MrsA100 writes:

  Hey RightOn- I didn't see you here. Right On has been working for me for almost 10 years now and can attest to the careful planning involved with this tricky market.

  I thought our psf was closer to $200 but we are still way below some of these others.

  My banker told me things aren't as dismal as the paper reports.

  We have had the best April sales since 2002. I hope that's a good sign for everyone, not just the home market.

• April 17, 2008

  10:27 a.m.

  Suggest removal

  ldandeg writes:

  Not sure if anyone noticed, but it appears they are changing the names of the homes to reflect the state of the development.

  Shore House is being changed to Mud Hut. The Boat House becomes The Titanic. Trade Winds is being renamed Sinkholes. Montauk Point becomes Hollow Point. And lastly, Celebrations is being changed to Frat Party.

  Hopefully this will give potential buyers a better indication of what they're really purchasing.

• April 17, 2008

  11:02 a.m.

  Suggest removal

  MrsA100 writes:

  I think most people in that price range are savvy, that's why these aren't selling.

• April 17, 2008

  11:22 a.m.

  Suggest removal

  civilguy writes:

  Don't feel any compassion for Mr. Albright. He flat out stole money from my home he was building to help fund the "Boat House". When all was said and done he cost me $300k. I am one of about a half a dozen people he lied to and stole from. Douglas County is currently building a criminal case against him. Hopefully he'll get what is coming to him in the end. I thought of him as a friend, but he was nothing more than a thief.

• April 17, 2008

  12:01 p.m.

  Suggest removal

  Scott writes:

  civilguy,

  If Albright goes to prison he will definitely get what's "coming to in 'the end'" ;-)

  The dirtballs that developed my area back in the late 50s early 60s, Dream House Acres near Franklin & 84th, spent a few years in the slammer "getting it in the end." To bad it doesn't happen more often to the developers that are crooks.

  Scott

• April 17, 2008

  12:54 p.m.

  Suggest removal

  hikingartist writes:

  This could be an opportunity for the industrious folks at ELF to redeem themselves.

• April 17, 2008

  1:10 p.m.

  Suggest removal

  davies writes:

  This is W's fault. He's president, isn't he? Print some more money and prop up some more subprime lenders. If lower class people can't buy more house than they can afford, it's eventually going to trickle up to the higher classes. And that ain't right.

• April 17, 2008

  1:54 p.m.

  Suggest removal

  Gene writes:

  hikingartist,
  You are not funny.

• April 17, 2008

  4:35 p.m.

  Suggest removal

  medina88 writes:

  HR Guru I live out West and would never move to Aurora. I wouldn't put my boys in Aurora schools. know way? Because the media scares me away from Aurora. It could be a great place where you live, but "Aurora" is Aurora and some of us are taking no chances. These homes are never going to sell for the asking price.

• April 17, 2008

  5:13 p.m.

  Suggest removal

  RainbowWarrior writes:

  Green is not 25% more, that is the crock of you know what. Many of the original Built Green concepts, materials and methods are now so mainstream and common they are no longer associated with green, environmentalism or sustainablility. The Built Green program by the HBA of Metro Denver in conjunction with Austin Texas in the early 1990's was the original. It has expanded to become an International Standard.

  No wonder you bone heads can't sell houses, you are ignorant fools.

  Fricking planet rapers.
  Natuaral resource wasting idots.
  You build today at the expenses of the well being of your own great grand children.

  Go out of business and just fade away...

  A new day is dawning for home building, wake up and smell the coffee!

• April 17, 2008

  5:41 p.m.

  Suggest removal

  aurorarealtor writes:

  For those who haven't seen Aurora lately, you might want to take a look before criticizing the area. This area has plenty to offer with great shopping, recreation, building standards, and the southeast Aurora area is in the Cherry Creek School District. The area where these homes are located is in zip code 80016 with the highest income and net worth averages of the Denver metro area.

• April 17, 2008

  5:42 p.m.

  Suggest removal

  USANumber1 writes:

  I love how everyone has their own comments on how they would or wouldn't do something, where they live, how they live & that's cool.....However, if it makes you feel bigger to bash another.....& you know who you are - Not so cool!!!
  (Most of the comments here represent how putting down another person, group, place makes you look & sound like a bunch of clowns)

• April 17, 2008

  6:23 p.m.

  Suggest removal

  MrsA100 writes:

  Rainbow warrior - my company tries to build green. They have certain elements that have to be observed to be call a green build.

  Recycled glass counter tops are in the same range as mid-high end granite. Lyptus wood counter tops, same price range.

  AGA appliances, green, $6K for the range, $2k for the dishwasher, $3,700 refrig.

  We use Energy Star rated appliances everywhere else.

  Lighting that qualifies as "night sky friendly" at least 20% more than the same light before they called it night sky friendly.

  I sell between 20-25 per year, so I'm not complaining. I keep 27 people employed and have had the best april since 2002.

  Most of my business is 2nd home buyers who want don't need another house and come to me on referral from other customers. We must be doing something right.

  Don't kid yourself, the "green" industries are making a killing.

• April 17, 2008

  6:36 p.m.

  Suggest removal

  raysmom writes:

  The houses ARE beautiful, but they are HUGE! I couldn't afford one, anyway, but even if I could, I would rather have a smaller, more efficient home with more privacy. When my son goes to college next year, I want QUIET and fewer bathrooms to clean! That's some of the problem, I think- the wealthiest groups in our country are older, or empty nesters who are looking for LESS to care for, not MORE.

• April 17, 2008

  8:59 p.m.

  Suggest removal

  jay writes:

  LOL...what did they think was going to happen?

  Who buys $2 million dollars houses in AURORA?

  you might as well live in cleveland.

• April 18, 2008

  9:27 a.m.

  Suggest removal

  R8R_H8R writes:

  "the plight of the struggling, upper-end market in the suburbs." . . Wow, that's a REAL Tear-jerker story there. 80,000 jobs lost last month, but that's nothing! compared to the plight of the upper end market in the suburbs.

• April 18, 2008

  9:44 a.m.

  Suggest removal

  OhBrother writes:

  what's wrong with Aurora? it's a good area with good schools, why is it a place that snobs always look down on?

• April 18, 2008

  10:25 a.m.

  Suggest removal

  Gene writes:

  Liberals are elitists, and that is why they are snobby to places where most people live.

• April 18, 2008

  10:58 a.m.

  Suggest removal

  RainbowWarrior writes:

  I apologize for being antagonized too easily... an Aga range is not green, sorry. The fact that it comes from overseas and weighs a ton should clue you into that fact.

  Tha Parade of Homes has become a cruel joke on the average person. Most people leave felling like a second class citizen because they know they will never own a home like that.

  Why can't the Parade be a showcase of the best materials, applications and methods that real people could use and addresses our very real problems we must soon find practical solutions to before the worst case senerios kick in?

  I am proud to be a liberal Gene, it means I can think out of the box and change my mind anytime a better idea is available. My elitist passion is to replace mobile homes in SW Colorado with affordable super efficient load bearing straw bale homes that people can build them selves form a kit. Use the property they already own along with the exsisting infra structure; spetic, water and power... many of the items from the old trailer can be recycled into the new home, even the roof in many cases. Too bad you live so far away, because I would even want to help you.

• April 18, 2008

  10:58 a.m.

  Suggest removal

  USANumber1 writes:

  Jay - where do you live?

• April 18, 2008

  11:29 a.m.

  Suggest removal

  Gene writes:

  Dear Rainbow Warrior,

  I love SW Colorado. I have lived in Delta, Colorado and Aurora, Colorado. I would observe, that that many people live in the Denver metro area, in production housing, and live there for what it offers; availability, value and location. I have nothing against your type of construction. There is the case to be made on environmental basis, that consolidation of growth in the urban areas would take pressure off building in scenic natural rural areas of SW Colorado? But I really don't like to make such a case, as I believe there is room for everybody, wherever they like to live. P.S., I won't mention to my wife that you offered to help me add onto our home using old trailer parts - she would think it was my idea ! and she would kill me !

• April 18, 2008

  11:34 a.m.

  Suggest removal

  HRguru writes:

  Posted by medina88 on April 17, 2008 at 4:35 p.m. (Suggest removal)
  HR Guru I live out West and would never move to Aurora. I wouldn't put my boys in Aurora schools. know way? Because the media scares me away from Aurora. It could be a great place where you live, but "Aurora" is Aurora and some of us are taking no chances. These homes are never going to sell for the asking price.

  REGARDING YOUR COMMENT MEDINA88---it's not in the Aurora Public Schoold District! It's in the award winning and nationally accredited CHERRY CREEK SCHOOL DISTRICT! But..nice try:) You like where you live, I like where I live...it's just that simple.
  IT IS located in zip code 80016 with the highest income and net worth averages of the Denver metro area. All I know is MY zip code was the only one in the area where housing prices didn't DROP most recently! That says A LOT! The community itself is why we live where we live, the Lakehouse, The Boathouse, the family activities and all of the ammenities that are offered. I don't know anywhere else where I can spend my summer evenings at a salt water treated pool or at the fire pit roasting marshmallows or anywhere else that offers fitness/family classes and activities in such a beautiful setting. We have a private paddle boat lake, a movie theatre, a fitness center, a club house and cafe and all because we are part of this GREAT COMMUNITY SOUTHSHORE! :-) I'm happy!

• April 18, 2008

  12:16 p.m.

  Suggest removal

  MrsA100 writes:

  Rainbow warrior - AGA IS green. I've done a great deal of homework and FACT finding. I don't base my decision making upon emotional rantings.

  Say hi to puff.

• April 18, 2008

  2:36 p.m.

  Suggest removal

  Sportz133 writes:

  Rainbow-

  Hate to tell ya but MrsA100 is right about AGA. Go to their website. They use "Scrap-Iron" in the construction of their appliances......oh, and by the way they are made in Ontario. So they don't have to be shipped "overseas".

  Sure, they do weigh a ton......but soesn't that mean MORE scrap iron is being recycled???

  "Some" green products are becoming more mainstream in new builds (blown-in insulation for one) but many are still too overpriced/labor intesive for builders to switch to. As in everything, builders have to keep the price of the home in mind and many of the green products are not "mainstream" enough yet to signify a complete changeover.

• April 18, 2008

  3:45 p.m.

  Suggest removal

  RainbowWarrior writes:

  I stand corrected and apologize for my emotional rant. Gene is right about saving our wild and open spaces. He speaks with great wisdom on urbanization... Our problem here in Artchuleta county is that 65% of home ownership is in second homes that out of state owners spend less than 6 weeks a year in. They build big stupid ugly houses in the middle of the most beatiful places and treat the locals like low life scum. I have neighbors that are 8th generation Pagosans living in 40 year old mobile homes that still out-gas from toxic formaldahyde foam insulation, which lost it's r-value 20 years ago so they must burn 3 or 4 cords of wood each winter to stay warm. Forgive me because I care about these people.

  The Parade of Homes has become a cruel joke, it is a graphic demonstration of John Edward's 2 Americas. Most people could only afford a 7,000 square foot Mac Mansion for 2 if they won the loto, and most are smart enough to do better than piss it away on a green washed energy hog.

  So Aga may be a shade of green, but is it really a viable green solution at $6,000,00 a copy? So what was your point about price again??? More green washing if you ask me! I could build you a natural earth plaster bread oven with a burlap bag and good base stone for free. I'll bring the half dozen pieces of fire wood, you bring the pizza stuff and let's have a party. I beat the natural smoke flavor would blow the same pizza cooked in an Aga away by a mile... Difference in price; $6,012.00 to $12.00 and don't give me crap about burning a little wood in an open fire while many of your nieghbors will soon be roasting hot dogs over an open flame in one of those ornamental fire pits they just picked up at the big box store!

  And people who live in cities wonder about why there's bitterness in rural America.

• April 18, 2008

  4:56 p.m.

  Suggest removal

  MrsA100 writes:

  AGA also doesn't have self clean, which wastes about a months worth of energy in a home. Instead they have pull out trays that are easily hand washed or you can put them in the dishwasher.

  Very green.

  My point is regarding the green, the greener it is the more expensive it is.

• April 18, 2008

  4:58 p.m.

  Suggest removal

  MrsA100 writes:

  Oh it's the big house that gets you?

  You can like me more now, ours was only 2,800sf and as green as we could afford and still keep the price under $500K.

• April 18, 2008

  5:01 p.m.

  Suggest removal

  MrsA100 writes:

  Environmental impact is less if you keep your subdivisions more dense.

  If I have 25 houses on 100 acres but leave 80 acres as open space then my 25 houses on 20 acres require less roads, asphalt etc.

• April 18, 2008

  11:44 p.m.

  Suggest removal

  luxbuild writes:

  There are plain and simple facts regarding the demise of the 07 Parade Builders.

  1. They paid too much for the land
  2. The construction and architecture of the houses was marginal at best and certainly not commensurate with a $2M home
  3. The community is billed as "lakefront living". Aurora Reservoir is not a lake and to call those homes "lakefront" is an insult. The "lake" is over 1,000 yards away from the closest home.
  4. The builders got greedy. There were promises made to suppliers (i.e. give me the material and I will gladly pay you when the parade is over) and as is the case with the Remarc home... They owe the bank $1.2M but they are asking $1.8M. Get over yourself. Cut your losses and get out. Instead, the home is in foreclosure.
  5. As a luxury homebuilder you need to ask yourself certain questions...The most important question is if your clientele will want to live where you are building. This is not a knock on Southshore but no one in their right mind would pay $1.8M-$2.6M to live there.
  6. The homebuilders got themselves into this by not doing their research, building an inferior product and basically making poor decisions. Village and John Laing were in the parade to support the community that they build in and that is understandable. No one put a gun to Remarc, Hollyberry and Rocky Mountain Custom Homes to build in this parade. They made the decision for themselves.

  I am a luxury homecrafter... and that is precisely who I market to and sell to. We build as green as we possibly can build and Rainbowwarrior is right... Our houses still use a ton of energy and they are expensive to build. Someday soon, geothermal and solar will be viable energy sources and they will be put to great use in our market. Until then we do the best we can with what we have available.

  The true luxury home market is fine. The houses that were built in Aurora were not luxury homes. This is not a knock on Village Homes... But when a "production" builder sweeps almost every award in a Parade then there is a problem.

  We have built in past Parades and we are currently building in the '08 Parade. Our experience in years past and currently with the Parade has been nothing but positive and I hope that the '08 Parade brings the lustre back.

• April 21, 2008

  7:57 a.m.

  Suggest removal

  Sportz133 writes:

  Bitterness in rural America........sounds more like craziness!!!