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The Wizard
Cherry Bomb


Joined: 22 Feb 2008
Posts: 114

KB Homes reducing neighborhood counts Texas 5 or 8 per City
PostPosted: Fri Feb 22, 2008 10:20 pm Reply with quoteBack to top

KB Homes has defaulted on one land position in Houston and is in the process of defaulting in another 2 in the DFW Metroplex.

The Write-offs are still not over.

KB insider said goal is to sell off new and exisiting property being sold and built on in order to reduce neighborhood counts to 5-8 by years end specifically in Texas.


Could not confirm that this is nationwide trend for KB Homes

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Last edited by The Wizard on Sun Apr 06, 2008 4:20 am; edited 1 time in total
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The Wizard
Cherry Bomb


Joined: 22 Feb 2008
Posts: 114

Re: KB Homes reducing neighborhood counts Texas 5 or 8 per City
PostPosted: Fri Mar 07, 2008 2:21 am Reply with quoteBack to top

KB closing Ft. Myer-Florida and both Lousiana Operations.

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The Wizard
Cherry Bomb


Joined: 22 Feb 2008
Posts: 114

Re: KB Homes reducing neighborhood counts Texas 5 or 8 per City
PostPosted: Fri Mar 07, 2008 7:42 pm Reply with quoteBack to top

Any input on this matter from anyone?

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The Wizard
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Pooge
Flash in the pan


Joined: 28 Feb 2008
Posts: 90

Re: KB Homes reducing neighborhood counts Texas 5 or 8 per City
PostPosted: Fri Mar 07, 2008 10:18 pm Reply with quoteBack to top

http://www.bigbuilderonline.co.....eID=669022
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Steamer
Dud?


Joined: 08 Mar 2008
Posts: 14

Re: KB Homes reducing neighborhood counts Texas 5 or 8 per City
PostPosted: Sat Mar 08, 2008 1:14 am Reply with quoteBack to top

I have heard same regarding reductions in neighborhood count for KB in Texas. High level in KB says they are going with low-end strategy to establish foundation to grow again. Says they are sitting on lots of cash with which to make new acquisitions, however, they have been recently defaulted on DFW property they had hoped to keep. Appears typical big builder run around.
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The Wizard
Cherry Bomb


Joined: 22 Feb 2008
Posts: 114

Re: KB Homes reducing neighborhood counts Texas 5 or 8 per City
PostPosted: Mon Mar 10, 2008 3:40 pm Reply with quoteBack to top

Departure from New Mexico, Chicago and Virginia was planned in early 2008 but was just made public.

Lousiana and Fort Myer will be made public soon.

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The Wizard
Cherry Bomb


Joined: 22 Feb 2008
Posts: 114

Re: KB Homes reducing neighborhood counts Texas 5 or 8 per City
PostPosted: Sun Mar 16, 2008 4:05 am Reply with quoteBack to top

KB defaults JV Land Contracts in Las Vegas, it is also being discussed leaving Mid-Atlantic cities.

Texas market continues to dwindle and may see a city branch close.

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The Wizard
Cherry Bomb


Joined: 22 Feb 2008
Posts: 114

Re: KB Homes reducing neighborhood counts Texas 5 or 8 per City
PostPosted: Sun Apr 06, 2008 4:22 am Reply with quoteBack to top

KB to make announcement by end of April with signinficant changes to its' stucture and mortgage partnership(s).

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BuilderGirl
Flash in the pan


Joined: 07 Apr 2008
Posts: 52

Re: KB Homes reducing neighborhood counts Texas 5 or 8 per City
PostPosted: Fri Apr 25, 2008 11:22 am Reply with quoteBack to top

Whatever happened to waiting till end of April, two good friends of mine quit KB in Dallas to go work at Centex.

KB stopped buying lots in Plano community (and others) while promising the sales people that they would move them to another neighborhoods that were selling.

Big fat lie, they were left to sell the last homes and close it out. My friend was told by someone in the office that he was to be fired in April since they had so many employees still hanging around and were going to.
They only have 7 active communities and want to only have 5 before the year is over.

Good for you, you left before that they fired you. My other friend was not as lucky and got fired because she waited around.

How come the President can hang around an continue to run it into the ground.
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Aristotle
Nitroglycerin


Joined: 05 Dec 2007
Posts: 594
Location: On a sand dune, sipping a cold soda

How Big Home Builders Treat Employees/Sales Agents
PostPosted: Fri Apr 25, 2008 11:09 pm Reply with quoteBack to top

[quote="BuilderGirl"]Whatever happened to waiting till end of April, two good friends of mine quit KB in Dallas to go work at Centex.

KB stopped buying lots in Plano community (and others) while promising the sales people that they would move them to another neighborhoods that were selling.

Big fat lie, they were left to sell the last homes and close it out. My friend was told by someone in the office that he was to be fired in April since they had so many employees still hanging around and were going to.
They only have 7 active communities and want to only have 5 before the year is over.

Good for you, you left before that they fired you. My other friend was not as lucky and got fired because she waited around.

How come the President can hang around an continue to run it into the ground.[/quote]


This is my 5th recession (ouch, I'm old). I can tell you that with big corporate builders, employees and independent contractor sales agents are just like computer monitors, appliances to be turned off whenever it's time to reduce the electric bill.

The way big home builders are managed there is no emotional attachment to employees, and no sad feelings when a hard working loyal employee/agent is let go.

It's just like unplugging a computer monitor and putting it in a closet, or in the dumpster.

I'm so sorry that's how the world works. If it's any consolation, employees of all large and mid sized corporations are treated the same way.

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Aristotle

As Yogi Berra said "It's like deja vu all over again."
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