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2009-01-26

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stories: bizjournals.com

One of the largest home builders in the country (Ranked 20 in 2007 per builderonline.com), Mercedes Homes (mercedeshomes.com) has filed for Chapter 11 bankruptcy protection. The Florida-based builder:

Mercedes Homes said it hopes to operate normally as it reorganizes. In a statement, the company said it "expects to move quickly through the reorganization process and to emerge from its reorganization proceedings better capitalized and financially stronger."

The 25-year-old company employs approximately 400 people who sell, and construct, homes in more than 80 communities in Florida, Texas, North Carolina and South Carolina.

Mercedes Homes closed over 4,200 homes in 2006 and 2,300 homes in 2007. The company seems to have fallen in the wake of the ongoing housing bust. If you have any more information on their listing, please comment below or email us.

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Comments:

Ms Nosy at 11:28 2008-11-13 said:
Anybody know what's going on here? I'm hearing some really strange stuff. Thanks Permalink
Pooge at 14:25 2008-11-13 said:
What geographic area are you hearing the "really strange stuff" from? Permalink
Ms Nosy at 15:13 2008-11-13 said:
Southeast-Was advised to "dig deeper". Permalink
Ms Nosy at 09:19 2008-11-14 said:
If anyone knows anything, I would appreciate it! They are "hot and heavy" looking to purchase and haven't done business with us in a couple of years, they want material "yesterday", without even being quoted.

Ms Nosy Permalink

messanger777 at 10:16 2008-11-14 said:
I was informed that the "owners" were in NC recently and "had cash to buy" properties- raw land or, preferably, developed lots. I am skeptical as they have been resoundingly unsuccessful outside of FL... Permalink
Cali~girl at 10:24 2008-12-01 said:
Anybody know what's going on here? I'm hearing some really strange stuff. Thanks

"The Aliana Master-Planned Community broke ground in 2008 and will eventually cover around 2000 acres with a wonderful mixture of exclusive homes, beautiful landscaping and amenities the developer claim are the best of their kind."

Keep digging you will find that Mercedes Homes has moved into Texas. The ad above does not tell the whole story nor the truth about Aliana and for sure Mercedes Homes is not telling the truth. :roll: Permalink

Moan Alot at 12:36 2008-12-01 said:
I recently called one of their most seasoned builders in the Dallas area and the phone had been disconnected. I know that means little considering present market conditions; I will dig deeper. Permalink
Cali~girl at 12:58 2008-12-01 said:
I recently called one of their most seasoned builders in the Dallas area and the phone had been disconnected. I know that means little considering present market conditions; I will dig deeper.
Mercedes Homes was looking and may have started in the Dallas area, not sure. In the Houston area alone Mercedes Homes is building in five different locations which includes 'Aliana'... Keep digging and keep reporting. Permalink
topsales at 13:55 2008-12-01 said:
last I heard Mercedes was doing well in Dallas and Houston in fact I know the VP in the Houston office they reported positive sales numbers in Dallas and Houston Permalink
Cali~girl at 14:06 2008-12-01 said:
last I heard Mercedes was doing well in Dallas and Houston in fact I know the VP in the Houston office they reported positive sales numbers in Dallas and Houston
Oh really? Why no names, no areas, no information? If you know the VP in the Houston office so well, then you should have some numbers. Do you? 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.