The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Business Wire

KB Homes Are a Big Deal in Central Florida

<p class='bwalignc'> <b>Area builder sees average size of new homes grow by 28% since 2010</b> </p>

Wednesday, June 27, 2012

KB Homes Are a Big Deal in Central Florida08:00 EDT Wednesday, June 27, 2012 ORLANDO, Fla. (Business Wire) -- The average size of new homes sold by KB Home in Central Florida has increased substantially in the last two years — from 1,736 square feet in 2010 to 2,224 as of the first quarter of 2012. And while a bigger home carries a bigger price tag, these larger homes can be remarkably affordable compared to their smaller counterparts. For instance, at KB Home's Sawgrass Plantation community in Orlando, a four bedroom, three bath, 2,792 square foot home is priced at $215,990 with an estimated monthly mortgage payment of $1,564. A six bedroom, four bath, 3,512 square foot home is priced at $220,990, with an estimated monthly mortgage payment of $1,600. So, for an additional 720 square feet of living space, the monthly payment would only increase by $36.* “Two things are at play here — consumers' desire for more room for them and their families as well as our refined business model and economies of scale that allow us to offer them additional space for a nominal incremental cost,” said George Glance, president of KB Home's Central Florida division. “And the best part is that, thanks to our Built to Order process and flexible home designs, when a buyer chooses one of our bigger floor plans, they can choose how they want to use that extra square footage — whether for an additional bedroom, an expanded outdoor living area or a home office. Our personalized Built to Order customer experience and building efficiency are at the core of how we at KB Home can meet homebuyers' needs,” continued Glance. To learn more and view floor plans available at KB Home communities throughout Central Florida, visit kbhome.com or call 888-KB-HOMES. *Estimated monthly payments are based on sales prices, and include only PITI and estimated mortgage insurance premium; assumes qualification for an FHA 30-year fixed-rate mortgage loan of (a)$212,078, (b)$216,360 with interest rate of (a)3.75%, (b)3.75% and APR of (a)4.01%, (b)4.01% for the life of the loan and pays 3.5% down payment and payment of estimated closing costs of 3% of sales price. Minimum credit scores, underwriting guidelines and other terms and conditions apply. Not all buyers/applicants may qualify. This is not a commitment to lend. Rates effective 6/14/2012 and subject to change without notice. Nationstar Mortgage LLC, 350 Highland Drive, Lewisville, TX 75067. NMLS Unique Identifier #2119. About KB Home KB Home is one of the largest and most recognized homebuilding companies in the United States. Since its founding in 1957, the company has built more than half a million quality homes. KB Home's signature Built to Order™ approach lets each buyer customize their new home from lot location to floor plan and design features. In addition to meeting strict ENERGY STAR® guidelines, all KB homes are highly energy efficient to help lower monthly utility costs for homeowners, which the company demonstrates with its proprietary KB Home Energy Performance Guide® (EPG®). A leader in utilizing state-of-the-art sustainable building practices, KB Home was named the #1 Green Homebuilder in the most recent study by Calvert Investments and the #1 Homebuilder on FORTUNE magazine's 2011 World's Most Admired Companies list. Los Angeles-based KB Home was the first homebuilder listed on the New York Stock Exchange, and trades under the ticker symbol “KBH.” For more information about KB Home's new home communities, call 888-KB-HOMES or visit www.kbhome.com. KB HomeCara Kane, 321-299-6844ckane@kbhome.com