KB Homes is pulling out of it Martin's Chase community in Loudoun County, as well as the entire mid-Atlantic region due to poor market performance. KB Homes said the move will help it hold on to cash reserves and ride out the housing crash.
The builder has 5 communities in the mid-Atlantic region including Martin's Chase. The Martin's Chase community is located between Belmont Ridge Rd and Evergreen Mills Rd just down the street from Brambleton.
I called KB Homes this morning to get more information on what was going on with Martin's Chase. Here's what they told me:
- They are only selling the model homes and current inventory/spec homes. Inventory/spec homes are homes that are already under construction, but the buyer pulled out of their contract
- They will not be building any new homes from scratch
- They have closed their sales center
- All calls are being directed to their call center and their "Home Finder Center"
According to the person on the phone, whether we'll see KB Homes back in the area again is "yet to be determined".
-Danilo
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