Pulte Homes To Buy CP Morgan?Posted by Mike Taylor on Thursday, February 19th, 2009 at 9:54am.
This just a quick follow up post to the CP Morgan going Bankrupt I did a few days ago. The most recent scuttlebutt is the Pulte Homes is looking into purchasing CP Morgan. I have also heard that CP has not started building a home this year, but does have a backlog of buyers waiting to start construction.
This is still rumor, but I am fairly confident that Pulte is at least looking into the possibility of purchasing CP Morgan. The word on the street is that if this does go through, Pulte would keep the CP name and operate it as a separate entity under the Pulte umbrella.
Personally, I am not so sure this would be a good move for Pulte. CP’s name has been dragged through the mud and I think it is safe to say that locally, CP does not have the best reputation. Back in the day, their business model was wildly successful and their efficiency with which they were able to build homes was the envy of the industry. Pulte would have a long way to go to reestablish the CP Morgan name should they choose to buy it.
Perhaps I am wrong, maybe just the Pulte name can bolster enough confidence in the CP name that people would feel safe purchasing CP Morgan homes again. What are your thoughts?
Mike Taylor is the broker / owner of Red Door Real Estate which is a full service real estate office for buyers and sellers in the greater Indianapolis real estate market. Two of the areas Red Door Real Estate focuses on are Geist real estate and Fishers real estate among many others.