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Just out today: the 2006 J.D. Power New-Home Builder Customer Satisfaction Study. If you’re thinking of buying a new home, you owe it to yourself to check out this rich trove of information. (Full disclosure: J.D. Power is a sister unit of BusinessWeek in the McGraw-Hill Companies).
You can find a press release about the study here.
Pulte Homes and Centex Homes come out smelling like roses in sawdust. Pulte, including its Del Webb and DiVosta brands, ranks highest in 14 of 34 markets included in the study. Centex Homes ranks highest in 13 markets.
Buying a new home can be frustrating. See if this blurb from J.D. Power comports with your own experience:
More than 90 percent of new-home buyers report experiencing at least one construction problem with their new home. The most frequently occurring construction problems involve landscaping, kitchen cabinet quality and finish, and heating and air conditioning ….
Want to know the lowest-ranked builders in each market? For that you have to do a little digging through the J.D. Powers website. On the third page of the press release for each market is a bar chart with all the major builders that operate in that market ranked. In San Diego, for example, Cornerstone Communities is dead last, just ahead of D.R. Horton.
BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.