The wages of depreciation: "Starting at $99,000"
Oh, brother. Who would have thought we'd ever see new homes selling for less than $100,000 again? KB Home is marketing town homes with 2 bedrooms in its Wedgewood community in Valrico "starting at $99,000." Similar prices prevail at the Willowbrook community in Bradenton.
While I'm happy that new house hunters can find such retro prices, it's a sock to the gut of a housing market that's lost 30- to 40 perent of its value the past couple years. On the other hand, $99,000 will get you only a relatively stripped down town home. KB advertises bare bones starting prices. Modest upgrades - ceiling fans anyone? - quickly inflate the price.
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Housing market news is the focus of the (Un)Real Estate blog. It offers an inside look at the Florida housing market and real estate news, with a focus on Tampa Bay. Its goal? Simple: To help you keep a roof over your head without losing your shirt.
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