negative reviews Landsea Homes Corporation

• Reddit post titled “Landsea Homes construction/buyers’ experience”
• Posted 3 years ago in r/bayarea subreddit
• User asks for feedback and insights from people who considered/purchased homes from Landsea Homes Corporation in the east bay area.
• One user responded saying that they are also buying a Landsea house in SoCal and chose them over other builders because of the quality, design, and overall feel of the community.
• Customer service with Landsea is described as horrible/non-existent and they have shady business practices.
• Down south, Landsea makes buyers wait in line for the release of new homes instead of being put on a waitlist.
• Another user asks for more information on why Landsea felt better in terms of build quality compared to other builders like Lennar, Brookfield, Taylor Morrison, and Pulte.
• One user responds saying they are no expert in build quality, but it was the “feel” of the house layout, how they utilized the square footage, and default inclusions (such as quartz countertops) that swayed them towards Landsea. Landsea also won some awards for some SoCal communities and people are lining up for their houses.
• Other recommended builders mentioned by users include Lennar, Brookfield, Taylor Morrison, and Pulte.
• It is noted that these other builders are highly commended on build quality in the US.
• One user mentions that they also considered a Lennar community but found the showers to be super off and smaller and shorter than typical ones. The Landsea elevations (outside look of the house) were also good across the board.
• People have mixed opinions on the Landsea Homes Corporation.
• One user does mention that Landsea needs to fix their company culture and customer service.
• The post has 6 comments and a total of 4 karma points.

Notes:

• Landsea Homes Corporation was discussed in a post on Reddit’s r/grahamsnetnets page.
• One user expresses skepticism after noting the company’s strong financials, share buyback, insider buying, and discount to NCAV. Another user provides some insight and concerns, which give reason for caution.
• The company sells finished houses, which may inflate the market value of its assets. It completed two big acquisitions in 2020 and 2021, which could be near the peak of the current housing mania.
• Landsea Homes Corporation has a net margin of 6.1%, and a significant drop in housing prices could result in a loss.
• Additional insights and concerns raised by the users on Reddit include:
  • The company’s inventories may be overvalued based on historical pricing and locations of its properties.
  • The Case-Shiller HPI has risen almost 40% over the past two years and is starting to revert, so the company may be vulnerable to a housing market correction.
  • There is no information on the quality of the company’s assets or the cash flow it generates.
  • Housing prices were already very high in 2020 when adjusted for inflation, and the market could experience a crash similar to that of 2008 in that event.
  • Landsea Homes Corporation is a controlled company with a short public history and no dividend payout.
• Despite its insider buying and attractive surface appearance, there are concerns that Landsea Homes Corporation may not be a solid investment due to the risks and uncertainties in the housing market.

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• The webpage displays a picture of the Landsea Homes Corporation logo and states the corporation’s location as located in Dallas, TX.
• The webpage lists multiple categories of businesses, including restaurants, home services, auto services, and other types of services.
• Landsea Homes Corporation is listed under the “Home Services” category.
• Apart from the basic information provided, there is no mention of the services provided by Landsea Homes Corporation.
• The website displays the corporation’s hours of operation as 10:00 AM - 5:00 PM Monday through Friday, 10:00 AM - 6:00 PM on Saturdays, and 10:00 AM - 6:00 PM on Sundays.
• The corporation’s rating is displayed as 1.2 stars out of five, based on 23 reviews.
• There are five other reviews that are not currently recommended.
• As of the time of viewing, there are no questions in the “Ask the Community” section related to Landsea Homes Corporation.

• URL: https://www.reddit.com/r/RealEstate/comments/n04mad/anyone_have_any_experience_buying_from_landsea/
• Post from 2 years ago asking for experiences buying from Landsea Homes
• Yelp reviews of Landsea Homes are all 1-star
• Multiple comments describing negative experiences and poor workmanship
• Issues with unresponsive customer service, inferior contractors, and poor quality materials
• Complaints about non-existent or insufficient solutions to problems like mold, flooding, and electrical issues
• Suggestions to avoid Landsea Homes and choose other companies like Lennar instead
• Some people recommend having an outside inspector check the home before buying
• People suggest filing complaints with regulatory agencies like the ROC or involving the media if necessary
• Some people discuss potential legal actions and class action lawsuits
• Some people suggest contacting the Landsea Homes CEO, John Ho, but others mention a lack of response
• Discussion about Landsea Homes developments in specific locations like Northern Farms in Waddell, AZ and Landsea Harvest in Queen Creek, AZ
• Some comments express relief at having “dodged a bullet” by choosing not to buy from Landsea Homes
• Discussion about HOAs in Landsea Homes developments, including complaints about high fees and poor management
• Mention of Landsea Homes changing its name from Vintage Estates Homes at some point in the past
• Discussion about Landsea Homes threatening to stop construction or involving their attorneys in disputes
• Comments about difficulties in finding good builders and negative reviews being more common than positive ones

Not used in article

• Signs of a bad real estate agent:
  • Drops the ball on communication:
    • Delays in responding to calls, texts, or emails.
    • Does not address questions and concerns.
    • Rushed, irritated, or not forthcoming during conversations.
    • Sugar-coats situations and tells clients what they want to hear.
    • Adheres to a channel of communication that is not preferred, ignores requests.
    • (Monica Campbell advises that the agent needs to be okay with delivering uncomfortable news.)
  • Does real estate as a side gig.
  • Has their own agenda and gets pushy about it.
  • Unfamiliar with the market.
  • Runs late or is a no-show for appointments.
  • Not a great negotiator.
  • Lacks marketing skills.
  • Tells lies or half-truths.
  • Is overeager to please.
  • Acts as a messenger rather than guiding you through the process.
  • Doesn’t ask you any questions.
• Monica Campbell advises:
  • As the seller, you need to know exactly what’s going on, good or bad.
• Jessica Boswell advises against using an agent that is doing this part-time and hasn’t really immersed themselves in the work.
• Boswell lists honesty as the number one thing to look for in a real estate agent.
• Boswell collects and organizes the offers before showing them to her client.
  • She also does the legwork for each offer — screens the lenders, makes sure the buyer has pre-approval, and investigates the buyer’s agent to make sure everything is in order.
• HomeLight can connect you with two or three top-rated Realtors or real estate agents near you in two minutes.
• Always check your listing agreement contract before hiring a new agent.
• Monica Campbell:
  • Sells properties 59% faster than the average agent in her area.
• Jessica Boswell:
  • Closed on 90 deals last year alone.
• Boswell makes sure to communicate with people in the way that they are used to.
• Campbell always asks her clients how they want to receive their information and updates, whether it’s via phone, text, or email.

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Top 3 negative reviews of Landsea Homes Corporation