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Unread 07-07-2008, 01:17 PM
 
8 posts, read 9,023 times
Reputation: 16
Quote:
Originally Posted by banker View Post
To your point - there are quite a few people that moved in from out of town - California, Nevada and Virgina to be exact. All those places are/were very high priced. People that moved in over the past two years were moving out of very high priced homes and even at full price these houses were quite a good deal with lots of luxury touches.
My point was you would have to be an uneducated consumer from out of town with no Realtor to think that some of these homes were near the $600k price point. It has nothing to do with the amount of money they have to spend. Any one familiar with the San Antonio real estate market wanting to purchase a new home can easily drive the neighborhood and see that these are not $600k homes. You can get alot more home for $500k about 1-2 miles north on 281 than what is offered in this neighborhood, even 18 months ago when you say these were purchased.

 
Unread 07-07-2008, 01:20 PM
 
3,570 posts, read 4,721,669 times
Reputation: 1340
Quote:
Originally Posted by playmaker7206 View Post
My point was you would have to be an uneducated consumer from out of town with no Realtor to think that some of these homes were near the $600k price point. It has nothing to do with the amount of money they have to spend. Any one familiar with the San Antonio real estate market wanting to purchase a new home can easily drive the neighborhood and see that these are not $600k homes. You can get alot more home for $500k about 1-2 miles north on 281 than what is offered in this neighborhood, even 18 months ago when you say these were purchased.
I'm not falling down on either side of this argument, really, fascinating though it is, but I can see an uneducated consumer from a high cost of living area coming to SA and seeing what we'd think is outrageous as a good deal.

When you come from a place where a 1000 SF 2/2 is $500K, your perspective is skewed. Now, presumably one would educate themselves before buying, but as we clearly know, many many buyers do NOT educate themselves before buying.
 
Unread 07-07-2008, 01:29 PM
 
8 posts, read 9,023 times
Reputation: 16
Quote:
Originally Posted by Chaka View Post
I'm not falling down on either side of this argument, really, fascinating though it is, but I can see an uneducated consumer from a high cost of living area coming to SA and seeing what we'd think is outrageous as a good deal.

When you come from a place where a 1000 SF 2/2 is $500K, your perspective is skewed. Now, presumably one would educate themselves before buying, but as we clearly know, many many buyers do NOT educate themselves before buying.
True. You would have to be from out of town with out a Realtor to not know that these homes were not selling for $500-600k. The sales reps in the model feast on folks from out of town with no Realtor because they have no sense of value in this market. "Banker" talks like he is form San Antonio, and has lost credibility on this forum by stating he thinks many homes in this neighborhood sold for $500-600k, and common sense with a quick drive by in the neighborhood would say otherwise. He is a salesman wet dream because he believed everything at face value, and will not see the truth while still drinking KB Kool Aid served at the model home.
 
Unread 07-07-2008, 02:45 PM
 
Location: San Antonio
5,475 posts, read 7,898,404 times
Reputation: 13640
HomeOwners for Better Building - KB Homes

Interesting reading with multiple new stories about complaints against KB (and other) builders, but KB sure is taking the brunt of complaints/lawsuits according to this info.

Go to the latest news link on the left hand side...LOTS of SA info.
 
Unread 07-07-2008, 03:18 PM
 
1,740 posts, read 3,633,891 times
Reputation: 305
I may be totally off base - but I am not the crude term you called me. I too found out that there are other communities north up 281 that give more home for the dollar - but most were more than two miles...anyway - part of the premium we paid was not to be too far north of 1604. The toll road project and the price of gas were big drivers to keep us as close to being inside the loop as possible and still get a new energy efficient house on the North Central side of town. There are people that are willing to pay that premium to not commute up 281 with everyone else in the heat of rush hour. That will only get worse and more expensive if you ask me.

As to the home sales prices...please do not post people's personal info on this site. Posting addresses is bad enough. Those that know, know there are lots of ways to find out what a home sold for. One way is to look at the county clerks website. You can back into purchase prices by looking at the mortgage amounts. This works for some and not others. For example - if a person puts down a larger than normal down payment it is hard to back into what his purchase price would be. But if they do an 80/20 or VA loan at 100% it is easy. If it is a large mortgage and not VA then more than likely the buyer put 20% down - which makes an easy calculation to figure out. I am not sure where the figures you are looking at came from - so I can't argue or defend your position. You may very well be correct that most of the homes were in the low $400K range. If that is the case - then most of the people got really good deals considering the quality of homes the Estate line is. Heck, even the Liberty houses could easily be optioned up to the $400K range, as can the new Empire collection - just look at the horrid prices in The Woods of Alon before upgrades!! So - I will back away from my position in an effort to take the high road and not turn this thread into a giant argument.

There are lots of folks in the Quarry from out of town and may have seen the value of the large lots, quality construction (on the Liberty's and Estates') and excellent location just south of the horrible 281 expansion project that even 18-24 months ago you knew was coming. I am from San Antonio and after a six month search decided on the value that the Quarry and KB offered. Believe me - there is nothing in the immediate area that matched the features and value combined with large lots and location that this community offered.

As to the new product - I don't really like it - but don't find it offensive. I feel like I am getting a good home in very nice neighborhood. This isn't drinking the kool aid as some have suggested. We are all entitled to our own opinion - and it should come without immature name calling.
 
Unread 07-07-2008, 03:32 PM
 
1,740 posts, read 3,633,891 times
Reputation: 305
Quote:
Originally Posted by playmaker7206 View Post
$500-600k!! WHAT!!! I hope that wasn't the sales pitch given to you to get you to purchase your home.

There is not one single home in the Quarry that has sold for over $500k. Don't believe the KB sales staff if that is your source. The only home that MIGHT break the $500k mark is the 2 story estate model, but it recently came back on the market.
By the way - in defense of the sales staff...they never told me anything. I am basing my information from other sources, lot premiums and from the numerous browser packages and historical base prices for the community. I wasn't lied to. The sales staff went out of their way to give me the facts - even giving me a heads up that the floor plans were changing before I signed my contract. You are jumping to a lot of conclusions about me and KB. For one that thinks I have lost all credibility - you are headed that way as well. I could be wrong about the prices - but I really don't think I am as far off base as you insist. I appreciate your input and would be very curious to know your source for the final sales prices.
 
Unread 07-12-2008, 11:38 AM
 
45 posts, read 238,588 times
Reputation: 38
Another opinionated quote by banker:

"Believe me - there is nothing in the immediate area that matched the features and value combined with large lots and location that this community offered."

You get defensive when people post stuff about you, but then you post these highly opinionated quotes like you are some real estate expert. There are others on these boards that have also done the research and disagree with you.

I disagree with your assertion. You got a good deal, but the original owners in The Quarry got screwed by KB.
 
Unread 07-12-2008, 11:50 AM
 
Location: Earth
224 posts, read 547,552 times
Reputation: 81
Quote:
Originally Posted by JZ31171 View Post
Another opinionated quote by banker:

"Believe me - there is nothing in the immediate area that matched the features and value combined with large lots and location that this community offered."

You get defensive when people post stuff about you, but then you post these highly opinionated quotes like you are some real estate expert. There are others on these boards that have also done the research and disagree with you.

I disagree with your assertion. You got a good deal, but the original owners in The Quarry got screwed by KB.
I disagree that the original homeowners got screwed by KB. KB would build 400K+ homes if they were selling fast and they were able to make a significant profit. The market "tanked" and like any builder they are going to do what it takes to stay in business. KB tried to enter the semi custom market and it failed. An educated consumer would have not gambled with KB San Antonio who had ZERO track record in the semi custom market.

I will say that Banker was touting KB as a builder was on par with builders at the 400K price point. No they aren't on par, it wasn't their core competency. Thats why they went back to there bread and butter box homes.

If the original home owners who bought in the Quarry read their subdivision disclosure statement it will state that the builder has a right to change the product. KB did just that. Whenever you build in a brand new subdivision, you don't know what the final product will be in the 3-10 years that it takes to build it out.
 
Unread 07-12-2008, 02:14 PM
 
Location: Charleston, SC
4,990 posts, read 6,698,001 times
Reputation: 2178
So what other builders in the country are comparable to KB? Something like Quadrant Homes (their ads focused solely on size)?
 
Unread 07-12-2008, 02:27 PM
 
Location: North Central SA
734 posts, read 1,933,745 times
Reputation: 194
500K homes in the Quarry?

There is an awesome home on 2 acres in Fossil Ridge (that I want, but can't have right now!) 3000+ sq ft, 5 bedrooms, single story - $455K

I SOOO want that house, but oh well. I will stay in my KB neighborhood, that I do throughly enjoy and wait for this housing slump to break.
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