Troubled properties listed in NW Valley

When lenders foreclosed on fourof home builder Randall Martin Homes' Valley developments in February, some of the company's customers thought they were left with too many unanswered questions.

Some wondered when, or if, their communities would ever be built to completion. Others wanted to know who would clean up and maintain the vacant land parcels remaining throughout their neighborhoods. A few clients had no idea if their home warranties were still viable.

Though a handful of Randall Martin customers still have frustrations, the Arizona Department of Real Estate forced the builder to give customers some answers.

To avoid future situations similar to the Randall Martin debacle, the department has compiled a list of home builders in financial trouble and the properties that are affected.

Three Northwest Valley developments, including a Randall Martin project within DMB's master-planned Marley Park community, made the list.

Earlier this year, Marley Park general manager Dan Kelly said all of Randall Martin's Surprise properties were sold before the foreclosures, causing few problems. The home builder filed for bankruptcy in March and is no longer selling anywhere in the Valley, said Jerome Jordan, the state real estate department's assistant commissioner of operations.

American Partnership, LLC's Desert Oasis of Surprise, parcel B4, located roughly near 163rd Avenue and Jomax Road, is also on the list. The department acted on a tip from an area Realtor who reported that the property was going into foreclosure, Jordan said. The department continues to investigate the project's financial status and advises any interested buyers to check the Maricopa County Recorder's Office for property liens or trustee sales.

The third Northwest Valley community on the list is the Rancho Silverado development by Elite Homes. However, Scott Holland, the company's vice president of sales, said this week that the company is not affiliated with that project.

Rancho Silverado is just outside of Surprise's city limits. Jordan said a property lien was discovered on one of the community's units that were for sale.