Regency Homes Lays Off ALL Employee's
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    Regency Homes Lays Off ALL Employee's

    Cash gap paralyzes Regency, Iowa's top home builder | DesMoinesRegister.com | The Des Moines Register

    I realize that the housing market is tough, but this was a big surprise to me.

    I wonder what people who just moved into a new Regency home will do for warranty service... I have a feeling that they will be out of luck.

    It also sounds like many contractors may be out money owed to them by Regency as well.



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    Re: Regency Homes Lays Off ALL Employee's

    Wow, that seems like a shock even given the current conditions.


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    Re: Regency Homes Lays Off ALL Employee's

    Jamie was not a great business man so this isnt a shock to me. Regency was a pretty poor group to do business with.



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    Re: Regency Homes Lays Off ALL Employee's

    Nice, they lay off everyone but the execs... I guess they will have a lot of work to do. Maybe the CEO will be doing the warranty work.


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    Re: Regency Homes Lays Off ALL Employee's

    Quote Originally Posted by brianhos View Post
    Nice, they lay off everyone but the execs... I guess they will have a lot of work to do. Maybe the CEO will be doing the warranty work.

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    Re: Regency Homes Lays Off ALL Employee's

    Quote Originally Posted by ketchupnmustard View Post
    "...because character counts."
    Nice jab! I had forgotten about that one. Every one of those ads made me throw up in my mouth. What bs.



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    Re: Regency Homes Lays Off ALL Employee's

    Quote Originally Posted by drmwevr08 View Post
    Jamie was not a great business man so this isnt a shock to me. Regency was a pretty poor group to do business with.

    I concur with this. Jamie and Robbie were not experienced running a business (especially one of this size). Unfortunately, due to their father passing away, they were thrown into the fire earlier than they should have been.



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    Re: Regency Homes Lays Off ALL Employee's

    What I do not get is how did these companies not see this coming? I know very little about the housing market and I was yelling about this 3 years ago!


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    Re: Regency Homes Lays Off ALL Employee's

    I feel bad for the employees but I saw this coming a long time ago. Regency overbuilt and from what I heard the quality was not that great either.



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    Re: Regency Homes Lays Off ALL Employee's

    Quote Originally Posted by superdorf View Post
    I wonder what people who just moved into a new Regency home will do for warranty service... I have a feeling that they will be out of luck.
    They are going to need the warranty service too, but they should have known that going into buying a Regency Home.


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    Re: Regency Homes Lays Off ALL Employee's

    It seems as though the larger builders have been the ones that are hit the hardest. A really large one in Omaha went down last year. I can only imagine what their monthly expenses were. Trying to heat 100 or more empty houses when nothing is selling has got to be tough. On a lighter note, that will probably relieve a lot of pressure from other builders in the area, once the unsold inventory is gone.



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    Re: Regency Homes Lays Off ALL Employee's

    My guess is that a good deal is in order for someone that could finish the house themselves or find good contractors. Hmmmm, we just had our second child on Tuesday, we need more room. Anyone want to rebuild our deck so we can sell?



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    Re: Regency Homes Lays Off ALL Employee's

    Quote Originally Posted by Cyclonepride View Post
    It seems as though the larger builders have been the ones that are hit the hardest. A really large one in Omaha went down last year. I can only imagine what their monthly expenses were. Trying to heat 100 or more empty houses when nothing is selling has got to be tough. On a lighter note, that will probably relieve a lot of pressure from other builders in the area, once the unsold inventory is gone.

    The one in Omaha was more of a midsize builder who had expanded too much. Regency is much larger and should have been more able to balance themselves for the market dip.



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    Re: Regency Homes Lays Off ALL Employee's

    I guess I must be the rare person that has bought a Regency without any problems. We bought new 3 years ago and haven't had any problems besides some driveway issues, which I don't think is going to cause any issues. Most of my neighbors had either Regency or their upscale division build there house and I haven't heard any problems form them either. Regency was the biggest builder in Des Moines for a lot of years so if you build enough homes people are going to complain.

    On the other hand, we had a Grubb townhouse that had all kinds of trouble.



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    Re: Regency Homes Lays Off ALL Employee's

    Quote Originally Posted by drmwevr08 View Post
    The one in Omaha was more of a midsize builder who had expanded too much. Regency is much larger and should have been more able to balance themselves for the market dip.

    Especially the minimum dip that Iowa is experiencing as compared to other areas of the coutry. This is more about poor business planning than the economy driving Regency into this situation.



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