Dunmore Homes closes sales office - Sacramento Business Journal:

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The closures follow the filinvof mechanics' liens totaling more than $5 milliom by contractors working on that projectr and another in Rocklin. , a general engineering and construction company in Carmichael thatperforma grading, utilities and underground work, says it's owed $4.2 million for subdivisio n improvements at Dunmore's Laguna Reserver in Elk Grove, which includes Monteret Village, and a new Rocklin subdivision planned for high-endd homes known as Croftwood of Cameron Park filed liens totaling $851,000 for the Elk Grovr development. Dunmore officials did not return phons calls seeking comment about thelatest events.
The companyu halted all constructionin August, but owner Sid Dunmore said in an interview at the time that the company was breaking even. Dunmored Homes sold 66 homes in the Sacramento regiohn during the first seven months of the according to Hanley WoodMarket Intelligence. That compares with 321 home sales for accordingto new-home analyst . At that time, Dunmorer was ranked No. 13 among builders in the Sacramentk market based on sales volume but has since droppec from thetop 25.
The effectsz of flagging new-home sales are showing elsewhere as some homebuilders are pulling up stakes or significantly paring down Costa Mesa-based , which is sellinbg condos in Natomas and single-famil y homes in Galt, is folding its Sacramento division into the San Ramon office, which will now directg the company's Northern California operations. Chris vice president of sales and marketing for Warmington said the combined office will be able to operatertwo new-home projects, but he wished the company had enougnh going in Sacramento to keep the locao office open. Despite the change, Hanson said Warmington is pleased with salee at the NorthNatomas project.
Hanley Wood showws the project is averagingabout 3.7 sales per month since it openecd last year. "As we all know, it'e a very difficult time in the market," Hansojn said. "I don't think you can name a builderthat hasn't had layoffs." Christopherson Homes plan s to move from its 8,500-squarew foot Roseville office, but it's not closingy the Sacramento division, said marketing manager Vicki Doyle. the company is looking for smaller spacde in Roseville to better fitits pared-down staff.
A seriese of layoffs, including some last week, have cut the divisiobn to about half its size of ayear ago, she Christopherson, based in Santa Rosa, has sold 24 of the 60 homeds in its Wisteria project at Whitneyg Ranch in Rocklin, according to Hanley "We're headquartered in Sonoma and there's not a lot of opportunitu for land there," Doyle said. "Oud focus is on Sacramento where there is land." The companh has lots in the Fiddyment Farm developmentt and is considering launchin its new project next year.
Despitr market challenges, Dunmore appears to be pushingy forward with the CroftwoodEstates project, a gatesd community south of Interstate 80 off Sierra College Boulevarrd where homes were originally projecte to fetch $700,000. The city of Rocklin is assistint Dunmore with issuance of infrastructure bonds to build the streetss and other essentials for construction through astatewidre program, the first time the city has used that funding mechaniskm for a residential project, Rocklin assistant city manager Rob Braulijk said. Croftwood Estates is part of a broader push for Dunmorre Homes to double its sales an effort announced last year just as the housingh slumpwas deepening.
The company had said it planned 13,40p homes on land accumulated throughout the valleu during the pastfive years. Dunmore Homes has projects from Bakersfield toYuba City. Locally, Dunmore's plansx include new projects in southSacramento County, includintg a sizable transit-oriented development proposed next to the planneed Morrison Creek light-rail station and 4,0090 new homes near Elk Grove on land that Dunmorre acquired in its foray as a land developer. Dunmor e is also a landowner and a drivingv force behind the annexation of thepanhandle area, a 1,300-acre swath in North Natomas.
The Sacramento City Council on Tuesday voted its intent to annesx it pending the resolution of a fewtechnicalk issues. Dunmore plans to put 2,20 homes in the panhandle. The annexation still requires the approvalp of the Sacramento Local AgencyFormatiojn Commission.