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Praise For Ryland Homes Homeowner's Insurance - Brokerblogger

If the "wind and hail" of a hurricane came along and replaced your house with a pile of sand from the beach (as simulated in the photo above), you would need a good homeowner's insurance policy.  The problem is that it can cost a lot of money if you are in Zone 1 or 2 of the "Windpool" as determined by the South Carolina Wind and Hail Underwriting Association.

Ryland Homes passes on their buying power to their new home buyers by having a relationship with Balboa Insurance Company.  Even though my wife and I are located within Zone 2 of the S.C. "Windpool", our Homeowner's Insurance policy is only $958 per year which includes "wind and hail" insurance.  We got this insurance as a result of a contingency by Ryland Homes that we had to buy homeowner's insurance through them if we wanted up to $3,000 in non-recurring closing costs, and $10,000 in free upgrade options on our new Ryand Home.

When sellers pass on their buying power on anything which results in saving for the consumer, this is a "win-win" situation.  Of course, those savings are not passed on when it comes to the pricing of those upgrade options.  When I comparison shopped some of them, they were very high priced by Ryland Homes (as they are with all new home builders).  But, you do have the convenience of having them in your new home when you close escrow vs. having to deal with them afterwards.  The plus side to doing the upgrades afterwards is that your property taxes will be lower, since they are based on the selling price you pay a builder.  The downside is that you should contact your homeowner's insurance company to make sure you are not under-insured.

Before you finish reading this post, please be aware that my wife and I did not enjoy our first year of Ryland Home ownership.  See "My Last Ryland Homes Blog Post & My Attempt To Help Ryland Homes!" to get a better overview of our Ryland Home complaint to the BBB, and links to the over 100 Ryland Home problems that were all eventually fixed after 13 months of having much of our time wasted.

Ryland's Verbal vs. Written Sales Incentives - Brokerblogger

The photo is of a graphical depiction of a park that will be built close to the Ryland development they are selling.  It is an "in writing snapshot" of future plans by the developer to build a "buyer benefit" for all the new home builders in the development.  This is what new home buyers need to have a visual, permanent record of what they are being verbally told should happen eventually.

However, when it comes to sales incentives like Ryland Homes paying up to $3,000 in "non-recurring closing costs" (Ryland's definition of what specifically is "non-recurring" should be in writing), and $10,000 in free Ryland upgrades, there are no written documents (online or on paper) that state the details and contingencies of those incentives to get them when someone buys a Ryland home.  This places a burden on the Ryland sales agents that have to remember to verbally tell all prospective buyers all the contingencies that materially affect that incentive offering in a clear, conspicuous, comprehensive, comprehendable, and upfront way.  Hopefully, no buyer or seller wants any "misunderstandings", and last minute surprises.

I strongly suggest that Ryland Homes insure that they have proof that they are following FTC guidelines about "Advertising" by putting these details and contingencies on their web site, so that they can be easily changed, as the incentive dates and details evolve.  The only thing on Ryland's web site about these things related to Ryland's in house financing incentive of a lower rate when I put a deposit down on my Ryland home, and I did not use Ryland financing when I bought.

Before you finish reading this post, please be aware that my wife and I did not enjoy our first year of Ryland Home ownership.  See "My Last Ryland Homes Blog Post & My Attempt To Help Ryland Homes!" to get a better overview of our Ryland Home complaint to the BBB, and links to the over 100 Ryland Home problems that were all eventually fixed after 13 months of having much of our time wasted.

Ryland Homes Sales Policies (Problems & Kudos) - Brokerblogger

Most of what you see in the photo above of a Ryland Homes model home (as well as with most builder's model homes) is an upgrade, like the wood floor, backsplash, kitchen sink faucet, kitchen cabinetry, and pendant lights.  Yet, there is no way for the prospective buyer to know these material facts.  Some builders put a sheet of paper on an acrylic stand in every room that tells exactly what is an upgrade for each room.  Home buyers want to know what will be the approximate TOTAL COST of their prospective home, so they don't want to be unintentionally misled and have their expectations set improperly. 

Before you read the rest of this post, please be aware that my wife and I did not enjoy our first year of Ryland Home ownership.  See "My Last Ryland Homes Blog Post & My Attempt To Help Ryland Homes!" to get a better overview of our Ryland Home complaint to the BBB, and links to the over 100 Ryland Home problems that were all eventually fixed after 13 months of having much of our time wasted. 

The Ryland sales reps are not always available to deliniate an upgrade from something standard that comes with the base price of the home.  It should not be their responsibility anyway.  Model homes are a form of advertising, and the FTC says that advertising must have clear, conspicuous, comprehensive, and comprehendable disclosure about the "material facts" of the offering.

The Federal Trade Commission has a "FTC Policy Statement On Deception" regarding their "enforcement policy against deceptive acts or practices."  Notice, this is NOT just for the more traditional forms of "advertising".  The summary goes on to say "First, there must be a representation, omission or practice that is likely to mislead the consumer."

Now, as far as kudos goes, Ryland has a wise sales policy that greatly helped in my decision to buy a Ryland home (See Next Page).

My Ryland Homes New Home Buying Experience - Brokerblogger

Since I just closed escrow yesterday on my new Ryland Home, this series of blog posts will be an ongoing dialog of whether Ryland Homes can withstand the "Test of Time", when it comes to "Appropriate Workmanship Standards and Specifications" concerns (See "IMPORTANT FINAL RYLAND HOMES BLOG POST").  But first, let me say that I will do my best to be objective vs. subjective, and to keep in mind that my intent is to help Ryland Homes, since the more homes they sell in my new neighborhood the better it is for me.  Also, I want to make it clear that if I have to use tough love and constructive criticism, as well as praise and kudos, it will be done with research first and comprehensive attention to detail.

Today's post is intended to say that dealing with any new builder is a challenge that requires an INFORMED CONSUMER who has done his homework, and has set his own expectations properly.  I say this because I personally know people who have bought a Toll Brothers luxury home for over one million dollars, and another who bought a Beazer Home for a little less than my Ryland Home.  Both had similar mutual communication, buyer expectation, and  "appropriate workmanship standards and specifications" concerns.  They also had some praise for their builders. 

On the second page of this first post will be a short background leading up to my purchase of a new home from Ryland Group Inc. (RYL - stock symbol), which owns Ryland Homes.  Notice how R. Chad Dreier (CEO) says:  "Our constant aim is to deliver quality, value and an enjoyable customer experience with every home we build."  The upcoming "test of time" will uncover if what Mr. Dreier says is just disingenuous "corporate speak" or the truth, the whole truth, and nothing but the truth. 

All new home builders are going to have to learn and adjust to the "Age of Information", and what is said in the "Cluetrain Manifesto".  The beginning of it goes:  "A powerful global conversation has begun. Through the Internet, people are discovering and inventing new ways to share relevant knowledge with blinding speed. As a direct result, markets are getting smarter—and getting smarter faster than most companies."

Here are the events leading up to my Ryland Homes new home purchase in a "buyer's market" with cost cutting going on with most builders during this Real Estate downturn time.