A few days ago, I found out that KB Homes was pulling out of their Martin's Chase community in Loudoun County. Since then, a fellow Loudoun County real estate agent, Heather Elias reports on her blog, LoCo Real Estate Musings that Equity Homes and Basheer & Edgemoore are also on the way out the door.
"...I noticed that the inventory homes for Equity Homes, a builder with communities under construction in Purcellville and Round Hill, were now listed as owned by a trustee, including the model home at the Highlands in Round Hill. I did some digging but could only come up with a news article regarding the builder pulling out of a community in Westmoreland County, saying that they had ceased business operations."
"...Basheer & Edgemoore, a luxury home builder working on a community called Park Meadows just outside of Leesburg, is now selling 3 to 9 acre lots within the community from $325,000. I'm not sure how many finished homes they have there, but they were certainly billing it as an exclusive community (only 17 home sites) when they started marketing it; I'm hoping there are some restrictions on what can be built on those lots so that the folks that have already moved in there are living in a community that reflects what they thought they were purchasing."
Though these three builders are "outta here", most seem to be sticking around. For now...
Further Resources:
Park Meadows community - Basheer & Edgemoore
Equity Homes - Loudoun County communities
For more information about the buying/selling process and real estate market in Loudoun County, Virginia, check out www.LoudounStats.com and www.LoudounForeclosures.com.
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