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Buescher Homes - Home Builder

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2008-02-15

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stories: wfaa.com

Update, 2008-05-12: An update on Buescher can be found here (Abandoned homes, some lots bought up, some vandalized, weeds aplenty).

Update, 2008-03-11: A reader (who bought a house from Buescher but now cannot get in touch with them) sent us an informative set of links related to Buescher:

A number of people also pointed out that Buescher apparently holds a high percentage (1/5-1/4) of vacant homes in Tarrant county. See this screenshot someone sent in for an example, and also check out the Collin Central Appraisal link below for more.

Update 2008-03-10: We have received word that Buescher Homes has filed for bankruptcy. Here is the relevant information: Buescher Homes - US Bankruptcy Court District of Northern District of Texas Case # 08-30781-sgj11.

One tipster pointed us in the direction of the Collin Central Appraisal District where a search of Buescher properties turned up 281 results.

We have received word from various tipsters that Dallas/Fort Worth-based Buescher Homes (buescherhomes.com — site down - archive) has put "ALL BUSINESS OPERATIONS ARE CURRENTLY ON HOLD." From one email, apparently sent from a Buescher Homes email address:

Unfortunately, as of Friday, February 15, 2008, Buescher Homes is undergoing a reorganization. At this time, we cannot anticipate when operations will return to normal.

ALL BUSINESS OPERATIONS ARE CURRENTLY ON HOLD. Mechanical warranty work will be honored by the company who originally performed the installation on the home.

We recieved further, separate correspondence regarding Buescher Homes indicating closure. From one such tipster:

I beleive Buecher Homes in Dallas/Fort Worth are in trouble. They have pulled out of the Fort Worth Market with 15-20 lots under purchase contracts that they cannot move. Additional they have 3 homes in Fort Worth they have sold but cannot complete contstruction on because they are on credit freeze with their Suppliers and contractors. I have also been told they are holding $20 million worth of property in Collin County which would be a 10 year build out for them.

I have not seen any articles about them because they are a family owned and closely held company. But for a home builder to take 150 days to get houses to the sheet rock stage and have them sit for 45-60 days at a time with no work being done there is something wrong.

Regarding Buescher's size, another informant has indicated they close as many as 250 homes a year.

Finally, another tipster has speculated that Buescher was forced into bankruptcy. However, we have as of February 29, 2008, been unable to corroborate this rumor:

It looks like they were forced into filing Chapter 7 liquidation by some of their subs on 2/15/08. Most of the homes built within the past year have mechanic liens on them.

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Comments:

aminooee at 10:40 2009-10-02 said:
Hi there,

I am trying to find wall paint information that the builder used. I have had 0 luck so far. Is there any information about this that anyone can assist me with? Really would like to match the paint! :) Permalink

Pooge at 16:18 2009-10-02 said:
Hi there,

I am trying to find wall paint information that the builder used. I have had 0 luck so far. Is there any information about this that anyone can assist me with? Really would like to match the paint! :)

If worse comes to worse and no one knows, chip off a sample and take it to Home Despot, Lowes, or a paint specialty store to get it matched. Even if you had a can now, the exposure to light, air, daily traffic, etc. changes the color. Permalink

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Important: This company is on our list of builder operations that have "imploded" (see also ailing lenders). This is a somewhat subjective call, and does not necessarily mean total shutdown or bankruptcy. It can also mean steep and rapid declines in enterprise value; or abnormal "bail-out" by corporate parents or peers in order to continue to operate. The builders may be residential or commercial.