Under its corporate name of Taylor Wimpey, the organization sold off all of its operations, which include Taylor Woodrow Holdings and Taylor Wimpey Holdings of Canada Corp., to TMM Holdings Ltd. Partnership, which is the investment side of JH Investments and a couple of other companies for $957 million. That includes Taylor Morrison, which has more than 280 communities throughout six states and is based in Scottsdale AZ.

Suffice it to say this is a big deal, and it highlights just how rough the housing industry had it over the past few years. When the original companies of Taylor Woodrow and Morrison Homes merged in 2008, they became one of the largest home building companies in the world at a time when the yearning for new homes was on the way down. Taylor Wimpey borrowed heavily to get into the deal, and will use proceeds from the sale to help pay down their debt. They will also concentrate more on their holdings in the United Kingdom, where housing has also suffered, but not to the degree it has in the U.S., and where even before the sale they were listed as only the #3 home builder in their country.

What this does for Taylor Morrison is gives them the reserves needed to ride out the worst of the housing debacle while still being able to provide more new homes in communities they believe are ready to sustain them in both the United States and Canada. It seems that both entities are extremely happy with the move, and in our opinion it was probably a life sustaining move beneficial to the American housing market long term.

Defective Chinese Drywall

Lennar Corp, one of Florida’s largest single-family home builders, recently disclosed that they have been named in a class action lawsuit involving defective Chinese drywall, according to Securities and Exchange Commission (SEC) filings on Monday.

The lawsuit was filed in the U.S. District Court for the Southern District of Florida. Two plaintiffs claim to have purchased new homes from Lennar with defective Chinese drywall, which apparently emits sulfur gases, fumes, and erodes air conditioning connectors.

Lennar Corp was one of the first large home builders to address the situation, and has been working with homeowners to replace the defective drywall. In Lennar’s SEC filings, the company has stated that a reserve fund account will be used to replace drywall imported from China and any additional costs will be covered by insurance.

Lennar is not the only builder to have been affected by the defective drywall. National builders and prominent Florida home builders have also constructed thousands of homes with Chinese drywall, including Meritage Homes, Standard Pacific, Ryland Homes, Transeastern, Taylor Morrison, and WCI.

Some analysts suggest that enough Chinese drywall was imported to construct over 100,000 homes. The states affected include Florida, Louisiana, Mississippi, and Virginia.

See more:

http://www.newhomessection.com/blog/chinese-drywall-suit-names-lennar-corp/2009/04/21/

http://www.justicenewsflash.com/2009/04/23/lawsuit-filed-south-florida-homebuilder-lennar-corporation_200904231163.html

http://www.heraldtribune.com/article/20090423/ARTICLE/904231089/-1/NEWSSITEMAP

Sacramento Home Builders

Welcome to our home builder page for Sacramento, California homebuilders. Here you will be able to find out information about Sacramento homes for sale, Sacramento home builders and Sacramento new home communities below. Thank you for visiting Home-Builders-List.com during your search for new Sacramento homebuilders and homes.

Grendahl Construction Inc. – The focus behind Grendahl Construction Inc. is to build only the absolute finest when it comes to new custom homes. Grendahl Construction was started more than 30 years ago by Thor Grendahl Sr. with a simple philosophy that was built both on honesty and on integrity. His personal commitment was to provide value, fairness and efficiency, and these same values are still the cornerstone of his company. These same core values are still being maintained today, and the people behind the Grendahl Construction name are proud and privileged to carry this legacy on. For more information about Grendahl Construction’s current projects in Sacramento, California, visit their personal website.

Taylor Morrison – Taylor Morrison knows that there is more to a home than its simple bricks and mortar, but rather that a home is a reflection of who we are. For that reason, Taylor Morrison is dedicated to creating the most exciting possible living spaces and putting them in the most vibrant neighborhoods so that families can really begin to invest in their dreams. Offering exquisite craftsmanship and truly exceptional design concepts, Taylor Morrison homes are meant to be the absolute best that Sacramento home design and construction can offer. For more information about their current projects in the Sacramento, California area, visit their website.

John Laing Homes – John Laing’s roots in the home building industry date as far back as 1848, which is when John Laing’s father built his very first home in the English countryside. After becoming a respected building in Great Britain, John Laing took his home building legacy to the United States in 1984. John Laing Homes merged in 1998 with Watt Homes, now contributing to the country as one of the largest home builders in the nation. For more information about John Laing homes and Watt Homes and their current Sacramento, California home building projects, visit their website.

The information that has been cited above was gathered from each individual home builder’s personal website in September of 2008, and is considered to be reliable accordingly. If you want to find out more information about single-family homes in Sacramento for sale visit each home builder online.

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