Through foreclosure on the original developer of Vickery, Wells Fargo is now the owner of the vast majority of lots in our community. Our Covenants give Wells Fargo (as the “Declarant”) full control over the operation of Vickery and decisions regarding what is built on these lots -until (1) all the lots are sold, (2) Wells gives control to another party, or (3) the year 2025. It is believed that Wells Fargo has entered into an exclusive agreement with John Weiland Homes to build on the remaining lots. A visit to the first 3 homes on Cordery Road will demonstrate what Wieland is planning to build. These tract-style homes do not meet the spirit of unique design, mixed materials (stone, shingle, siding, etc.) and overall quality of current Vickery homes. One of the homes actually has been fitted with undersized plastic shutters. If this building continues, Vickery will become just another suburban subdivision and will lose its desireability as a unique place to live – and our home values will decline.
While Vickery representatives have tried to work with Wells Fargo and Wieland, the resulting first 3 homes are a huge disappointment and demonstate Wieland’s intent to build to the bare minimum of Vickery requirements. Two other builders, T-Olive Properties and Luxe Properties, are building homes on the few lots that Wells Fargo does not control. These homes meet the spirit of design in Vickery and will support our home values over time. T-Olive has sold 21 lots, proving that there is demand for Vickery-quality homes, even in this difficult market. These builders, and others, have expressed interest in purchasing the Wells-owned lots but have been turned away by Wells Fargo.
Interestingly, the Wells Fargo corporate website contains the following ethics statement:
“We strive for the highest ethical standards with our team members, customers, our communities and shareholders”.
However, despite the outcry from the Vickery community, Wells continues to favor Wieland’s strategy to build tract homes and refuses to release lots to others who will build homes that support the community. It would appear that there is some relationship between Wells and Wieland that is facilitating the construction of inferior homes. The John Wieland website (www.jwhomes.com) reveals that Wieland has a joint venture with Wells Fargo whereby Wells can provide mortgages on Wieland homes. We can each draw our own conclusions about the nature of this relationship and why Wells Fargo would support the construction of substandard homes in Vickery despite the outcry of those who live here.
In the mean time, Vickery residents are paying association dues but not receiving the representation that one would expect through the payment of these dues. The Vickery Board of Directors consists of Sean Stefan (Wells Fargo), Lance Johnson (Wells Fargo) and Svein Romsted (Cannon Equities – hired by Wells Fargo as an asset manager) – all appointed by Wells Fargo. No Vickery residents are on the Board of Directors. In short, Vickery residents live in an environment where a single entity (Wells Fargo) can demand payment from its residents and do as it wishes, despite the outcry of those in the community.
What do Vickery residents want? It’s quite simple. They want (1) all builders, including Wieland, to be held to the same design, individuality and quality standards that other Vickery homes have been held to, (2) for other builders who will support the community to be allowed to build here, and (3) representation as dues-paying members with the most at stake in Vickery. This is no more than any Wells Fargo employee would want for their own community. It has been proven that there is a market for true “Vickery” homes as those being constructed by T-Olive and Luxe. However, for some reason, this simple, logical request is being ignored by Wells Fargo.
What can you do? Participate in individual and group activities to convey your concerns to Wells Fargo and other participants in this situation. Review the blog titled “Who’s who and Contact Information” for details on the various entities involved in this situation and contacts you can make to help preserve Vickery. Wells Fargo, Wieland, Cannon Equities and Lew Oliver Inc, all play an important role in what Vickery will become.
In addition, blogs posted on this site titled “EVENT” or “TAKE ACTION” will provide information on organized events you can particpate in.
The future: If Wieland is allowed to continue building tract homes in Vickery, our community will be forever changed and our investments will be affected. It’s up to us to preserve Vickery and the time to act is now. With each tract-style Wieland home, the unique beauty of Vickery is eroded.