KB Homes drops prices 30% in French Valley

[newguy]

Asianautica

It took me twice to fully understand what you meant. While the door handles are an option before and after the price slash, there are some options that you have to get. So while the 453K is the base price of their 3500 sf home, KB homes are not building homes with no options. Instead, they only have homes with granite table tops etc making their price now 499K. So in a way, it’s misleading.

And 23109VC is right about the options. When you enter the model homes, there’s a list on the right of the entry listing all of the options…and that list is long. I saw the standard options, and there’s nothing to be going crazy about. I would have no idea how you would be able to imagine all of their options etc etc and settle on what you would eventually want.

[23109VC]

my point is that the prices are misleading. whether it was the BEFORE the price reduction or AFTER – the KB system is misleading. who knows what you really got for $650 or 700 “before”… was that a stripped house too? or loaded with options?

i have looked at several KB developments over teh past several years and I’ve found them all to be the same – beautiful models – reasonable prices advertised ont eh price sheets – and everything is optional. stuff that seems flat out silly to be an option is…. an option. oh you wanted an extra light fixture over the kitchen sink… OPTION. you want an electical outlet in the garage – OPTION.

i’m not kidding – some of their option packages are plain silly. i can see granite, etc…costing extra… although in the current market, most builders are thrwoing that in….

you buy a KB home… you option it up the way you want..spend a lot of money on your house – then the rest of the neighborhood moved in and b ought stripped houses… you paid a lot..care about your house..and most of your neighbors are losers who bought a POS stripped house and are in completely different economic circles than you are. no thanks.

[23109VC]

my point is that the prices are misleading. whether it was the BEFORE the price reduction or AFTER – the KB system is misleading. who knows what you really got for $650 or 700 “before”… was that a stripped house too? or loaded with options?

i have looked at several KB developments over teh past several years and I’ve found them all to be the same – beautiful models – reasonable prices advertised ont eh price sheets – and everything is optional. stuff that seems flat out silly to be an option is…. an option. oh you wanted an extra light fixture over the kitchen sink… OPTION. you want an electical outlet in the garage – OPTION.

i’m not kidding – some of their option packages are plain silly. i can see granite, etc…costing extra… although in the current market, most builders are thrwoing that in….

you buy a KB home… you option it up the way you want..spend a lot of money on your house – then the rest of the neighborhood moved in and b ought stripped houses… you paid a lot..care about your house..and most of your neighbors are losers who bought a POS stripped house and are in completely different economic circles than you are. no thanks.

[gn]

It’s true that KB is using some gimmicks to make their house seem less expensive. It’s also true that things are “not that bad” in Temecula yet.

Now, the actions of the builders in Temecula speak very loudly: they are getting desperate.

The “battle field” is just starting in Temecula. I suspect that, by this time next year, it will be a carnage. And the battle field will continue to move south toward San Diego.

[gn]

It’s true that KB is using some gimmicks to make their house seem less expensive. It’s also true that things are “not that bad” in Temecula yet.

Now, the actions of the builders in Temecula speak very loudly: they are getting desperate.

The “battle field” is just starting in Temecula. I suspect that, by this time next year, it will be a carnage. And the battle field will continue to move south toward San Diego.

[mydogsarelazy]

We own a 2 story KB Home in Murrieta, which we purchased in 2003 for $360k.

We spent about $20k on options — the carpet upgrades were essential — and are very happy with the home. KB has given great warranty service on the few small items that needed it.

It also took at least $20k more for a patio, a back lawn, a patio cover and window coverings.

So, if I were buying a KB home now I would budget $40 to 50k to allow for options and work on the yard.

JS

[mydogsarelazy]

We own a 2 story KB Home in Murrieta, which we purchased in 2003 for $360k.

We spent about $20k on options — the carpet upgrades were essential — and are very happy with the home. KB has given great warranty service on the few small items that needed it.

It also took at least $20k more for a patio, a back lawn, a patio cover and window coverings.

So, if I were buying a KB home now I would budget $40 to 50k to allow for options and work on the yard.

JS

[Bugs]

$20k for options is nothing. Seriously, it’s almost not enough to even be considering. Prior to peaking out a while back, a new home wouldn’t go out the door with less than $50k in options and upgrades, and it wasn’t at all unusual to see 15% increases for what I would consider to be 5% worth of stuff. I mean, $75k in a $750k purchase was almost standard for a while.

[Bugs]

$20k for options is nothing. Seriously, it’s almost not enough to even be considering. Prior to peaking out a while back, a new home wouldn’t go out the door with less than $50k in options and upgrades, and it wasn’t at all unusual to see 15% increases for what I would consider to be 5% worth of stuff. I mean, $75k in a $750k purchase was almost standard for a while.

[recordsclerk]

I’m not planning to buy, just window shopping until the 50%off sales start. So here is some info from the weekend window shopping.

Prices for Wolf Creek as of Sunday, May 27.

Aspen by Standard Pacific Homes
3,090 sqft $526,780 includes Stainless Steel and granite kitchen.
3,090 sqft model $557,900 (reserved/already sold)
3,210 sqft $550,000 includes Stainless/granite
3,428 sqft 576k-583K Stainless/granite, wrought iron staircase, tile detail in master and secondary bath
3,627 to 3,901 sqft 601k-620k Stainless/granite, wrought iron stair case, upgraded tile in master bath and sec bath, upgraded cabinets kitchen.
20K in incentives, 40K for non-contingent contract signed this weekend only.

Redwood by Standard Pacific Homes
3,322 to 3,437 sqft $575,450 includes granite kitchen, blk/white appliances.
3,506 to 3,812 sqft $605,330
3,733 to 4,051 sqft $634,900
4,519 sqft 3 story $712,645

No incentives on price sheet. I did not ask.

Stonebriar by Lennar
2,928 sqft $474,990
3,357 sqft $517,990
3,605 sqft $525,990

No incentives on price sheet. I did not ask.

My friend just moved into a Stonebriar home and purchased a plan 2 for 480K. So I am sure they are willing to negotiate. I just didn’t want to get into a conversation with the sales rep. I did have a conversation with the sales rep. at Aspen. They were giving incentives up to 40k for buyers willing to sign contracts this weekend with no contingences. He didn’t seem too bright, referred to National City as “Nasty City”, used slogans like “More bang for the buck”. I think Aspen homes had 8ft ceilings upstairs.

I also went to Gallery Reserve by Gallery Homes

These are semi-customs homes on an acre lot just north of Wolf Creek/South 79.

4,301 sqft 1.3 million single story 4-car
5,686 sqft 1.6 million two story 4-car
No mello roos, No HOA
These are very nice homes built in the hills north of 79S. That area is very nice, just custom homes. I would love to buy one of these if I can get one for 50% off. There is definitely a distinct difference between 500K homes and the high end homes.

[recordsclerk]

I’m not planning to buy, just window shopping until the 50%off sales start. So here is some info from the weekend window shopping.

Prices for Wolf Creek as of Sunday, May 27.

Aspen by Standard Pacific Homes
3,090 sqft $526,780 includes Stainless Steel and granite kitchen.
3,090 sqft model $557,900 (reserved/already sold)
3,210 sqft $550,000 includes Stainless/granite
3,428 sqft 576k-583K Stainless/granite, wrought iron staircase, tile detail in master and secondary bath
3,627 to 3,901 sqft 601k-620k Stainless/granite, wrought iron stair case, upgraded tile in master bath and sec bath, upgraded cabinets kitchen.
20K in incentives, 40K for non-contingent contract signed this weekend only.

Redwood by Standard Pacific Homes
3,322 to 3,437 sqft $575,450 includes granite kitchen, blk/white appliances.
3,506 to 3,812 sqft $605,330
3,733 to 4,051 sqft $634,900
4,519 sqft 3 story $712,645

No incentives on price sheet. I did not ask.

Stonebriar by Lennar
2,928 sqft $474,990
3,357 sqft $517,990
3,605 sqft $525,990

No incentives on price sheet. I did not ask.

My friend just moved into a Stonebriar home and purchased a plan 2 for 480K. So I am sure they are willing to negotiate. I just didn’t want to get into a conversation with the sales rep. I did have a conversation with the sales rep. at Aspen. They were giving incentives up to 40k for buyers willing to sign contracts this weekend with no contingences. He didn’t seem too bright, referred to National City as “Nasty City”, used slogans like “More bang for the buck”. I think Aspen homes had 8ft ceilings upstairs.

I also went to Gallery Reserve by Gallery Homes

These are semi-customs homes on an acre lot just north of Wolf Creek/South 79.

4,301 sqft 1.3 million single story 4-car
5,686 sqft 1.6 million two story 4-car
No mello roos, No HOA
These are very nice homes built in the hills north of 79S. That area is very nice, just custom homes. I would love to buy one of these if I can get one for 50% off. There is definitely a distinct difference between 500K homes and the high end homes.

[newguy]

Thanks for the pricing recordsclerk.

I’ve always wanted to go to Wolf’s Creek, but I’ve never had time (I have to drive from Diamond Bar…it’s about an hour away). Let us know if you hear anything else.

Just curious, for your friend that moved into the plan 2 for 480K…is that including closing costs? And for the other homes that are offering 20K-40K incentives, can that be directly taken off the home price? or do you have to use it on their “design center” etc?

[newguy]

Thanks for the pricing recordsclerk.

I’ve always wanted to go to Wolf’s Creek, but I’ve never had time (I have to drive from Diamond Bar…it’s about an hour away). Let us know if you hear anything else.

Just curious, for your friend that moved into the plan 2 for 480K…is that including closing costs? And for the other homes that are offering 20K-40K incentives, can that be directly taken off the home price? or do you have to use it on their “design center” etc?

[recordsclerk]

The incentives can be used towards closing and upgrades. I think you can buy down the interest rate. I will try to get more details from my friend regarding her purchase.

[recordsclerk]

The incentives can be used towards closing and upgrades. I think you can buy down the interest rate. I will try to get more details from my friend regarding her purchase.

[Author]

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