This is a notice sent by the Department of Real Estate today:
"1. The Department has been notified that Randall Martin Homes' subdivision lot holdings are going into foreclosure. According to Randall Bury, owner of Randall Martin Homes, the company is "walking away" from its holdings in Marley Park, Roosevelt Park, Valley at Dobson Crossing (aka Portello at Dobson Crossing) and Higley Park. It is anticipated that the lien holder(s) will assume ownership.
No complaints have been filed regarding Randall Martin Homes; however, we believe that it is important to alert Consumers and Industry of the company's intentions. ADRE is proactively taking steps to ensure consumer protection. Should consumers have questions or concerns, please contact Cindy Ferrin, Manager-Development Services at cferrin@azre.gov."
2. Audit of Re/Max 2000 Completed -The Department of Real Estate has concluded an audit of the company's trust accounts and records and finds them to be in good standing."
It is so important that buyers purchasing new homes be aware of the status of builders in this market. Several builders are struggling, and problems can be felt along the way by the buyers of those homes. I subscribe to the email alert from the Arizona Department of Real Estate in order to be aware of problems in our industry.
For those Realtors in Arizona who do not already do so, please sign up for those alerts. It may very well help you protect your buyers/clients.
Mesa, Arizona Real Estate. Call me at: 480.216-3334 for information on purchasing or selling a home in Mesa, Arizona or surrounding towns. OR email me: Teri@TeriEllis.com. Feel free to visit one of my websites: HomesAzRE.com, MoveToMesaAz.com or MoveToSunnyAz.com. Or stop by my blogs at: MesaAzRealEstateVoice; or Phoenix Valley Real Estate Blog
Mesa, Arizona Real Estate. Call me at: 480.382-8711 for information on purchasing or selling a home in Mesa, Arizona or surrounding towns. OR email me: Teri@TeriEllis.com. Feel free to visit my website: HomesAzRE.com, or stop by my blogs at: MesaAzRealEstateVoice and AzLadyInRed!
