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David Powers Homes - Texas home builder

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2009-03-07

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stories: chron.com

The Houston Chronicle has reported that David Powers Homes has dwindled down from 120 employees at peak to "just four or five" and has moved its offices into a model home. Per the article:

The high-end builder is now trying to finish the 36 homes it has in various stages of construction.

"We're trying to work our way through it," said David Powers. "We're just alive, awake and pressing forward every day."

Over his 20-year-plus career, Powers has built more than 3,000 homes worth a total of more than $1 billion.

Several years ago, the company was selling between 300 and 400 houses a year.

Last year, it closed on an estimated 138.

David Powers Home was on builderonline.com's top 200 builders list in 2006 and 2007.

Ongoing discussion regarding David Powers Homes has been occuring on our forums. If you have any additional information regarding their operations, please comment below or email us!

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Comments:

James Connery at 13:08 2008-12-08 said:
I heard today they are closing it's doors. Is this true???? Permalink
LOHOUSTON at 12:00 2008-12-09 said:
Did this happen? Anybody have any news on this? Permalink
shaqdiezel at 00:26 2008-12-11 said:
Not sure about that. They decided to cancel the contract they had with me an year in advance. They are basically baling out of $45,000-$50,000 dollars. If they can not pay their small vendors im not sure how long they will last.

I know their office was open today but David was no where to be found. May be they did. I guess if they owe you anything just get a judgement against them and get in line. Permalink

Robin at 18:54 2008-12-12 said:
I found a little bit of info, but much more still need to confirm rumbles going on. A tipster told us today they heard from a Realtor that furnishings were being moved out of at least one model home.

Anyone got more? Email or pm. Permalink

shaqdiezel at 12:08 2008-12-15 said:
that would be the model home they sold to me. they are trying to break the lease Permalink
shaqdiezel at 12:12 2008-12-15 said:
i dont think they are going out of business the bank is just loaning them money for limited things only and for right now and they are trying to cut their expenses. Permalink
th71 at 09:40 2009-01-21 said:
they haven't closed their doors, but they have moved out of their corporate office and moved into a model home in lakes of bella terra.

David did, however, shut down his racing team on January 8th. Permalink

th71 at 12:36 2009-02-25 said:
Now I am told that DPH is still in business (after being told yesterday that they closed last Friday) and they have contracted with a company here in Houston to complete all the homes he has under constrcution.

The individual who oversees all construction for DPH is no longer employed...I hear he was fired last Friday.

So if you're building a home with DPH, who is now in charge???

This continues to be the most expensive lesson I have ever learned. Permalink

th71 at 08:58 2009-02-26 said:
David Powers Homes has enlisted Buildology to complete the homes that are under construction.

You won't believe the information you'll find at http://ibuildology.com/ Permalink

Cali~girl at 10:07 2009-02-26 said:
Here is what I found out about this website, it looks a little fishy.

Untitled Document

Protocol: Hyper Text Transfer Protocol

Type: HTML Document

Connection: Not Encrpted Address: http://ibuildology.com/ (URL) Size: 425 bytes

Created: 2/26/09

Modified: 2/26/09 Permalink

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Important: Ailing Builders haven't shut down, but they've suffered significant valuation declines, temporarily halted redemptions, or faced other major business hurdles. Builders on watch may not even have unusual declines relative to peers, but may be posted if it is felt there may be risk of developing a more serious condition in the near future.