ARIZONA DAILY STAR: Thurs., April 9, 2009

Low-priced new homes are built to compete

By Josh Brodesky

With warranty, local starters can beat trashed foreclosures

With foreclosures flooding the housing market and bringing new-home construction to a halt, KB Home has launched a new line of starter homes that are priced to compete with bank-owned properties. A number of big builders have targeted foreclosures as their competition, citing the potential costs to buyers for picking up and restoring a home that may have been gutted by the previous owner.

The get-you-in-the-door price for KB Home's "Open Series" ranges from $100,000 for a two-bedroom home to $150,000 for a four-bedroom home before upgrades and extras, which can raise the price significantly. The line comes with a 10-year warranty and allows prospective buyers to customize their floor plans, which give the various models a wide-open feeling with high ceilings and room to roam.

FULL STORY: http://www.azstarnet.com/allheadlines/288061