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KB Home Goes on SoCal Buying Spree

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Four homes in the $300,000s at the Alpine community

Yesterday, home builder KB Home announced it is purchasing 664 Southern California sites, all part of a plan to add on to existing communities. More via the Los Angeles Business Journal: "The land purchase includes 174 home sites at the Shady Trails master plan in North Fontana and 490 sites that will be part of a new master plan called The Enclave, adjacent to KB Home’s Alpine at Willow Ranch community in Eastvale near Corona."

The homes planned are part of KB Home's lower priced homes, a line called Open Series, and a group of homes "priced to compete with resale and foreclosure homes," according to the LABJ. As the Associated Press notes, "Several of the industry's largest companies, including Hovnanian Enterprises Inc., Toll Brothers Inc., and Ryland Group Inc., have been taking advantage of falling land values to buy home sites in recent months."
· KB Home Makes Large SoCal Land Purchase [LAB]
· KB Home inks deal to buy 664 SoCal land parcels [AP]