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KB Homes Inspirada - New Homes with Foreclosure Pricing? Photo Tour
With so much news and focus on foreclosures, it's possible home buyers may be overlooking excellent value in other areas of the market, including new homes. KB Homes at Inspirada in southwest Henderson is a perfect example of great pricing currently available from a builder. There are new homes found there that at the moment are base priced at under $100 a square foot, in the range of bank owned homes here in Las Vegas. Town homes start in the mid $100k's, single family garden homes the mid $200k's, and many models to chose from under $300,000.
So what other differences might you find in comparing a foreclosure purchase to one of these new homes? First a foreclosure is sold as-is, and without any disclosures provided. This is true of most any corporate owned home in Nevada, since the owner didn't actually live in the home. Foreclosed home's conditions will vary, from immaculate, to fixer-upper, to in need of extensive repair. Purchased home warranties may be available, but may not cover items determined to be pre-existing conditions. So yes, there may be some risk and additional expense involved in purchasing an REO, and why you need to determine if it offers you ... more

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