Georgia Bankruptcy Blog

The Atlanta Business Chronicle has an article in the latest edition entitled "Home builder Expected to Liquidate." 

Robert Harris Homes Inc. in Woodstock, which ranked as metro Atlanta’s 19th-largest home builder according to Atlanta Business Chronicle’s 2007-2008 Book of Lists, closed its doors in July and is making “an orderly wind-down to a liquidation,” said attorney L. Matt Wilson, who is representing the company. He expects the firm will file for bankruptcy by the end of the year, or possibly early in 2009 for tax reasons, he said. “There will probably be a couple of [bankruptcy] filings, one for the company and some or all of its subsidiaries.” The company has about $80 million in debt and about $60 million in property, which was once worth double that, Wilson said...

Several other builders are having similar problems, according to the article -

During the same time period, Hedgewood Properties Inc. in Cumming had 326 liens filed against it, while Homeland Legacy Inc. in Norcross had 293 filed against it and some of its affiliates...

Homeland Legacy, which is metro Atlanta’s 24th-largest home builder according to the Chronicle’s Aug. 15 top home builders list, did not return several calls for comment. Quantum Homes Inc., which filed Chapter 7 bankruptcy liquidation Sept. 4, had 189 liens filed against it and its various affiliates, a lien search shows. ..

But some builders are probably in worse financial trouble than lien filings would show, said Michael Davis, partner in the construction law division of Chamberlain, Hrdlicka, White, Williams & Martin P.C. in Atlanta.  As entire subdivisions go into foreclosure, he said, liens are virtually wiped out as banks take the majority of the assets.  Bankruptcies by home builders are also curtailing lien filings, Davis said.

How did this happen to Mr. Harris? I love his homes. What's going to happent to the model on Ebenezer in Marietta?
I pray that all will work out for him.

He is done. So is Hedgewood. Many people lost their deposits since he has no money to give. Many people lost more than he did since he still retains his money but the people who put money into escrow are out of their money.

Actually you are WRONG - Robert Harris returned EVERY penny of earnest money, NOT A SINGLE PERSON was 'out' any money -RHH made sure of that personally. Maybe know your facts next time. Its UNinformed people like YOU that has caused this economy to be like it is a the 'negative' attitude of the market 'rebounding'...again, next time KNOW YOUR FACTS

This was an outstanding company to work for Mr. Harris was a great man. It was very sad when all this took place and I still have not found a company with the values that RHH had. I would drop everything and work for him again if he was able to rebound in this market.

What happens to the HOA dues when a builder files BK and it has not been turnover to the residence?

I live in a Robert Harris nightmare house. Most of the homes in Centennial Commons were built by day labors. I have not sole plate and my home the air was too small for the size, sheet rock streaks and tape showing. Cobb bond was up in 3 months after purchased. House wired with phone wiring. Who passed all of these expections. Poor cheap buliders got greedy. Good for greed. Glad thaty are out of buiness. And yes they kept my friend money all 25,000.00 no house.

I love to work for RHH,I'm sad all this happen.MR and MRS Harris are really nice persons. I hope I can work for them again!!! God bless them