Kb     Actually, KB Homes has pulled out of Charles County and the entire Mid-Atlantic Region, it seems.  In addition to MD, DC, and Virginia, they have also shuttered operations in Chicago, IL, and Albuquerque as well.  This is in addition to a previous announcement that they have decided to cease operations in California.

     What does this mean for people with KB contracts?  They said they are finishing construction of lots that are being built, but they are not accepting new contracts, or fulfilling contingent contracts.  It underscores the risk involved in purchasing new construction.  You need to be sure that your builder is solvent in the current market!

~Jonathan Benya
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000
301-653-8116
Waldorf and Southern Maryland Real Estate
www.teambenya.com

 

5 Comments on KB Homes Pulls Out Of More Markets

KB's stock has dropped from 58 to 24 very quickly.  I think they forgot what customer service is.

J.

03/19/2008 10:48 AM by Jeff Kessler ABR,GRI, Texas 512.801.5666 (Austin Homes Realtors)

They're celebrating 50 years right now.... I wonder if they'll make 51....

03/19/2008 10:52 AM by Southern Maryland Real Estate~ Jonathan Benya (Century 21 New Millennium)

KB should build more spec homes then lose more money using their inhouse mortgage company so they can over price the homes

03/19/2008 10:54 AM by Dave Woodson (Indigo Financial Group Inc.)

I live in the Raleigh NC market - and KB is doing well here.  Could it be the local market - or because they have good dirt and are partnered with Martha Stewart??

03/19/2008 11:04 AM by Eleanor Thorne, Cary Mortgage Loans (Meridian Residential)

entirely possible.  I was surprised to hear they were pulling out of our region, we're in much better shape market-wise than places like CA and FL

03/19/2008 01:12 PM by Southern Maryland Real Estate~ Jonathan Benya (Century 21 New Millennium)

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Real Estate Agent: Southern Maryland Real Estate~ Jonathan Benya (Century 21 New Millennium)
Southern Maryland Real Estate~ Jonathan Benya
Waldorf, MD
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